Yellowstone Club Sells For $115M
ADMIN
- May 25 2009
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According to the Wall Street Journal:
A private-equity firm agreed to acquire the Yellowstone Club for about $115 million, capping a yearlong legal drama that included dueling accusations of fraud and conspiracy.
![[CrossHarbor to Buy Yellowstone Club]](http://s.wsj.net/public/resources/images/OB-DR895_yellow_D_20090518153246.jpg)
Aerial view of the Yellowstone Club
Boston-based CrossHarbor Capital Partners LLC reached a deal Monday with Yellowstone’s lenders and creditors to buy the private golf and ski resort out of bankruptcy court. Under terms of the agreement, CrossHarbor will assume $80 million in debt owed to Credit Suisse Group AG and will pay $35 million in cash. CrossHarbor will also provide as much as $75 million in working capital for the club.
The pact brings a truce to the fight over Yellowstone, the once-private haven for billionaires in Montana’s Rocky Mountains that became a highly public battleground following the real-estate downturn and divorce of founders Tim and Edra Blixseth.
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