Home for John Denver foundation sells for $8.5M

ASPEN, Colo. - The 957-acre Colorado property that the late singer John Denver once bought to serve as headquarters for The Windstar Foundation has sold for $8.5 million.

The property in Old Snowmass had been listed for $13.5 million in September.

The Aspen Times reports (http://bit.ly/11Zpga8 ) a deed recorded with Pitkin County shows the property was sold Monday to Five Valley Farm. Attorney Herb Klein, who represented the buyer, declined to say who is behind Five Valley Farm.

Denver co-founded the foundation as an environmental education and humanitarian organization.  The property has a conservation easement attached to it that prohibits development on 927 acres and on the remaining 30 acres allowing for a 13.500 square foot home.

Klein says the institute plans to lease back part of the property, as it works on building a new office in Basalt.

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