Lewiston Colisée sold to investment firm with expertise in hockey rinks

An investment firm headquartered in Saratoga Springs, N.Y., acquired the Colisée, a sport and entertainment venue in Lewiston. Upgrades and new programs are already underway. Recovery Real Estate Holdings LLC acquired the Colisée, at 190 Birch St., from Firland Management Colisee LLC for an undisclosed price. The acquisition was financed through private investment. Marc Brunelle of SVN the Masiello Group brokered the deal. “The Colisée was a complicated listing,” said Brunelle, who represented the seller. “My client and I worked through the challenges of many interested buyers from across the country. During the time we had to navigate team and league charters as well as two operating tenants who had the opportunity to purchase the property. “Ultimately, Recovery Real Estate Holdings was very professional and well-capitalized to follow through on the purchase.” Ali-Liston match “We see a lot of opportunity here for hockey, for the community and for the building itself,” said Luc Choquette, Recovery’s vice president. “Our focus is on creating a strong future for the Colisée and making sure it continues to be a place where people want to come, whether they’re playing, watching a game or attending an event.” The Colisée has been at the center of Lewiston’s hockey history for generations, hosting professional and junior hockey, along with youth programs, concerts and community events. The 54,547-square-foot building, on 9.47 acres, was listed for $6.2 million. Formerly called the Androscoggin Bank Colisée and the Central Maine Youth Center, the building dates to 1958. It was the venue for the heavyweight boxing championship rematch between Sonny Liston and Muhammad Ali in 1965. In addition to providing an ice surface and long known for hockey, the property features a well-maintained main arena, built to accommodate a variety of large-scale events, from concerts and sporting events to tradeshows, exhibitions and community gatherings, according to the offering summary. In addition to the main venue, the sale included a 5,000-square-foot engineered utility building and recently built accommodations for athletes and coaches. Marketing materials listed investment highlights that included parking for 500 vehicles, full-section video wall panels with sound throughout, a videotron with 11 camera angles, a full-service bar at the mezzanine level of seating, a first-level cafeteria style restaurant and seating for up to 4,000. The property operates under lease agreements that include hockey groups such as the Maine Nordiques Academy for student-age players; along with revenue from events, concessions and operating equipment. Hockey enthusiasts The buyer, Recovery Real Estate Holdings, is a group of investors that owns a variety of commercial and industrial properties. In 2024, it began acquiring hockey facilities and operations in other markets, including four in upstate New York and one in Connecticut, along with the acquisition of youth hockey programs and teams. “One of the owners and I are both into hockey,” said Choquette. Earlier this year, Recovery began conversations with the seller, Firland Management Colisee LLC. The parties worked out a one-year lease and a purchase-and-sale agreement simultaneously, a strategy that allowed Recovery to take over operations and upgrades immediately while details of the acquisition were worked out. Since becoming involved with the Colisée, improvements have been completed throughout the facility, including the addition of a new Zamboni, new lighting over the ice surface and throughout the building, updates to the pro shop, creation of an in-person apparel store and freshly painted locker rooms. “Becoming the owner of the Colisée gives us an opportunity to look at the building with a long-term perspective,” Choquette said. Plans are in the works to upgrade locker rooms, create an apparel shop and a pro shop and bring in hockey vending machines, so players can access tape, wax other accessories. Arcade games are coming. “In the near future, we’ll have to look at the ice-making equipment,” he said. A new look is being planned for the upstairs club area. East Coast Sign & Design in Lewiston is creating wall art that will include images such as old newspaper articles and local landmarks. Good bones “The bones of the building are good,” he said. “There’s a new roof and a new parking lot that’s been repaved and sealed. The back of house needs a little attention.” As a native Vermonter, Choquette often vacations in Maine, but none of the investors had been to the Colisée before they began exploring acquisition. “Our first time, we came and fell in love and said, ‘Okay, we’ve got to do this,’” he said. Recovery’s other arenas are standard recreational rinks with year-round ice and about 200 seats on average. The Colisée serves both as an ice and an entertainment venue, with about 3,500 seats. The ice comes out in the spring and the space hosts entertainment and community activities. “We’re pretty excited to work with the city and try to create some summer venue entertainment,” he said. In addition to expanding hockey programs, the plan is to open the rink to public skating, with rental skates available. The buyer is in conversations with local community groups to promote youth skating. The acquisition builds on Recovery’s involvement with the Lewiston MAINEiacs and its broader experience in hockey operations and player development. As the organization moves forward, its focus will be on strengthening the Colisée as a destination for hockey, events and the community, with additional plans and opportunities to be announced as they are finalized.