Posted: Aug 14, 2013 10:57 PM by MTN News
The sale of Moonlight Basin marks one of the biggest real estate deals in the history of Gallatin County.
CrossHarbor Capital and Boyne, in partnership, are in a purchase and sale agreement with a subsidiary of Lehman Brothers.
Moonlight Basin and Big Sky Resort will be combining their operations and the two companies plan to merge them into one mountain resort.
The resultant mountain resort would outdo Vail by over 400 acres, making it the most ski-able terrain in the country.
This agreement comes close on the heels of the acquisition of The Club at Spanish Peaks through the same company.
In a statement released today, Managing Partner of CrossHarbor Capital, Sam Byrne said, "In the near term, the transaction will provide some much needed stability to Moonlight Basin. But the investment also reflects the broader potential we see for the region and sets the foundation for long-term growth."
President of Boyne, Steve Kircher said, "Another long-term strategic player in the Big Sky area creates the opportunity for a stable and coordinated effort in helping the community and the region fulfill its experiential and economic potential."
The purchase amount currently remains undisclosed and the sale is scheduled to be official on October 1st.