By Joseph T. O’Connor Explore Big Sky Senior Editor

BIG SKY – Makar Properties, a Newport Beach, Calif.-based real estate company, announced on Nov. 26 its purchase of Lone Mountain Ranch from Lehman Brothers Holdings.

The full-service dude ranch and cross-country ski resort is listed on the National Register of Historic Places and had been owned by Lehman Brothers since 2009.

“We are simply honored for the opportunity to add Lone Mountain Ranch to our portfolio of properties,” said Paul Makarechian, CEO of Makar Properties. “The Ranch is rich with heritage, shared experiences and stunning natural beauty … we are committed to continuing this tradition of creating cherished memories with impeccable and personal service for our guests.”

Makar owns and operates – among other properties – the Korakia Pensione Hotel in Palm Springs and is planning to reopen in 2014 Hotel Goleta, a destination surf lodge in Santa Barbara, Calif., according to a press release announcing the purchase of LMR.