It’s official. The historic Stanley Hotel in Estes Park has sold.

The Colorado Education and Cultural Facilities Authority (CECFA) announced Thursday the complicated bond deal to purchase the iconic property has closed after months of work to get the public entity to buy the site in its biggest deal ever.

The Stanley Hotel was the inspiration of Stephen King’s book “The Shining” that was later adapted into a horror film classic by famed director Stanley Kubrick and featuring Jack Nicholson.

The deal hopes to help make the famous property into a bigger tourist attraction for the state.

The Stanley Hotel sold to the Stanley Partnership for Art Culture and Education LLC., or SPACE for short, an organization made up by CECFA (a state bond issuer), private bond investors and the hotel’s former owner John Cullen.

Cullen will still lead operations as the chair and CEO of SPACE.

“I have owned The Stanley for almost 30 years and can’t imagine a better way to both preserve and grow it for generations to come,” Cullen said in a news release.

The sale went through with a nearly $400 million bond offering, which not only bought the site but also will help fund a major expansion of two of the hotel’s buildings to add 65 rooms and developing the 65,000-square-foot Stanley Film Center.

The film center will include an auditorium and a horror film museum curated by Blumhouse Productions (the studio behind major horror films such as “Five Night at Freddy’s,” “M3GAN,” “The Purge,” “Insidious” and more).

The film center will be partially funded through $46 million from Colorado’s Regional Tourism Act program, as the effort hopes to attract more tourists and generate more sales tax revenue for the state.

Earlier this year, the deal was on a “razor’s edge.” Stakeholders of the deal had to make major concessions to move the sale forward.

After bond documents to attract investors became public last month, a state economic official said one unnamed institutional investor said the deal hinged on the event center and Regional Tourism Act funding to generate future revenues and asked the state’s Economic Development Commission to put extra protections for the expansion project.

The EDC approved placing a land use restrictive covenant on the Stanley Hotel and Film Center once the deal closes requiring any future owners of the building to operate under terms consistent with the Regional Tourism Act.

But the commission also waived the EDC’s future right to approve a new owner if the bonds default and the hotel has to go through foreclosure.

The Stanley Film Center is expected to boost the Stanley Hotel’s economic and cultural impact for the state, said CECFA Executive Director and SPACE Chief Administrative Officer Mark Heller in the announcement.

“Just as importantly, this project will generate approximately $45 million over the term of the bonds to support the public educational and cultural missions of CECFA and SPACE,” he added, “which will be the stewards of The Stanley forever.”