The Yellowstone Club, an exclusive haven for the ultrarich now under federal bankruptcy protection, would be sold for $100 million to a Boston financial firm, under a deal outlined in court documents.
From The Hays Daily News:
BILLINGS, Mont. (AP) — The Yellowstone Club, an exclusive haven for the ultrarich now under federal bankruptcy protection, would be sold for $100 million to a Boston financial firm, under a deal outlined in court documents.
Documents filed by club attorneys show CrossHarbor Capital Partners LLC would pay $30 million in cash and $70 million in a promissory note for the 13,600 acre club near Yellowstone National Park.
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CrossHarbor also has agreed to invest an additional $50 million in capital improvements at the club and $25 million for other expenses.
The club counts Dan Quayle and Bill Gates among its 340 members, yet had been only partially developed when it fell more than $400 million in debt last year.
To read the full story, visit The Hays Daily News.
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