June Lake Rodeo Grounds in escrow

The Rodeo Grounds property in June Lake is currently in escrow.

The 87-acre property, which is located across the street from June Mountain Ski Area, is currently owned by Intrawest. Dan Scidmore of Daum Commercial, the brokerage team retained by Intrawest to sell the property, confirmed the escrow but was unable to provide details since the deal is still in progress.

“According to the MLS [Multiple Listing Service] the close date for the escrow is July 27,” said Lynn Morton, of Sierra Crest Real Estate in June Lake.

Sources have identified the buyers as the Roski family, second homeowners in June Lake for generations.

The family owns and operates Majestic Realty Co., one of the oldest and largest privately held real estate companies in the United States. Currently at the helm of the company is Edward P. Roski, Jr., President and Chairman of the Board.

According to losangelesfootballstadium.com, “As co-owner of the Los Angeles Lakers and Kings, Roski’s expertise in real estate development played a key role in the development of the STAPLES Center. Majestic Realty Co. led the efforts to create the STAPLES Center, a landmark in Downtown Los Angeles.”

June Lake local and former Mono County Supervisor Vikki Bauer described the Roskis as “long-time June Lake second homeowners” who “care deeply about, and understand June Lake.”

Bauer said around the Loop, “we just know them as the Roskis.”

Mammoth Mountain Ski Area allowed its right of first refusal on the Rodeo Grounds property to expire on March 15, allowing Intrawest to sell the property without notification.

The Rodeo Grounds are considered by many to be a key piece of property in June Lake. According to loopnet.com, “The June Lake Rodeo Grounds represent a unique development opportunity at the base of June Mountain Ski Area (JMSA). This property is located within the June Lake Rodeo Grounds Specific Plan, and is the largest available land parcel in the Mammoth Lakes/June Lake area. The Seller had previously worked on a general plan amendment that would have led the way to a ‘Village type’ development consisting of almost 400K sf of new residential space, almost 25K of new commercial space, and a direct access to JMSA via a gondola.”

The property was listed for $2.9 million.