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Saddleback

deadheadskier

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The same reason why the State of NH is backing the financing of the Balsams; the risk is too great for a private lender to take on.
 

Jully

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Can't imagine the ROI timeframe the Berrys are looking at right now. Bought the place for 8 million and put 40 million more in. Place is in no way worth that now.
 

mbedle

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Does seem odd that they are selling the place for so cheap, compared to what they invested in it. Really interested in knowing who the potential buyer(s) is for the resort.
 
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Can't imagine the ROI timeframe the Berrys are looking at right now. Bought the place for 8 million and put 40 million more in. Place is in no way worth that now.

I'd be curious to know how much of this includes condos that they've already seen the profit from though.... Whoops looks like someone just about said that.
 

xwhaler

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In the years since they've owned the mountain, haven't they sold some of the real estate near the base to recoup some of the monies they spent?

Yes, and they have built additional condos and sold some of those as well. They had a much more extensive build out proposed that didn't come to fruition which has hampered the cash flow.
 

Jully

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Yes, and they have built additional condos and sold some of those as well. They had a much more extensive build out proposed that didn't come to fruition which has hampered the cash flow.

However it's in no way $48 million in sales. Additionally if they have been operating the resort at a loss for awhile l, then the real estate sales might just be covering those losses and maybe not even.
 

thetrailboss

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The same reason why the State of NH is backing the financing of the Balsams; the risk is too great for a private lender to take on.

 
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I thought they were only selling the ski area and keeping some land and real estate. So its not a total loss.

This strikes me as a value-destroying proposition. I can't imagine anyone wanting to buy the place at all without the option to develop real estate. I've heard the same thing too- seems to be the prevailing rumor. It just doesn't make any sense from the perspective of the buyer.
 

Jully

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On a serious note, weren't they considering doing an EB-5 offering?

I remember hearing something about it awhile back too. I believe they got Franklin County all ready for EB-5 investment. Don't know what happened. Certainly can qualify as a high priority area or whatever making a $500,000 investment possible
 

steamboat1

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I don't believe new lifts qualify for EB-5 because they wouldn't create enough jobs. In the case of Saddleback needing $3m that means at least 6 (propably 7 after application fees) investors. Since each EB-5 investment is supposed to create at least 10 full time jobs I don't think 60-70 jobs would be created by a lift.
 

thetrailboss

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I don't believe new lifts qualify for EB-5 because they wouldn't create enough jobs. In the case of Saddleback needing $3m that means at least 6 (propably 7 after application fees) investors. Since each EB-5 investment is supposed to create at least 10 full time jobs I don't think 60-70 jobs would be created by a lift.

Right, but EB-5 for their entire project....not just lifts. I think that they had started going down the EB-5 road but lost interest.
 

Smellytele

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I don't believe new lifts qualify for EB-5 because they wouldn't create enough jobs. In the case of Saddleback needing $3m that means at least 6 (propably 7 after application fees) investors. Since each EB-5 investment is supposed to create at least 10 full time jobs I don't think 60-70 jobs would be created by a lift.

well if they close then apply for eb-5 it would create more than 7 jobs.
 
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