Bozeman Real Estate Blog: Montana Real Estate Blogs

The 13,400 acre, private golf and ski enclave, Yellowstone Club (YC) sale to CrossHarbor Capital is finalized at a price of $115 million, according to Yellowstone Mountain Club's CB Richard Ellis. The Big Sky, Montana bankruptcy sale was finalized August 5, 2009, ending a long battle for control between Sam Byrne and Edra Blixseth.

The many Yellowstone Club real estate and Montana luxury home choices include large homesites on which to build your own, custom luxury estate; on-the-mountain chalets; single-family custom homes; private ranches, or condos in either The Enclave or at Sunrise Ridge. Many of this Yellowstone Club real estate offers golf course property or ski and snowboard access, too.

Dine at one of three rustic Yellowstone Mountain Club lodges; choose the Rainbow Lodge with its own outdoor, heated pool and views of Lone Peak; the Warren Miller Lodge at the base, offering the most elegant mountain dining in Montana; or the Timberline Café, right off the main lift for a quick, gourmet lunch before skiing undiscovered powder in the back-side trees.

The YC maintains a 24-hour professional security staff, public safety and traffic staff, Fire Department, and EMT - Emergency Medical Team.

At Pioneer Mountain's base, the 143,000-square-foot Warren Miller Lodge includes over 20 elegant condos; grand dining room; comfortable lounge; ski shop: retail and office space; business center; world-class spa; exercise room; casual café with games, TV,  tables, and bar; and teen center.

The Yellowstone Club boasts more than 2,700 vertical feet of skiing, 60 skiing and snowboarding trails, children's instruction area, Magic Carpet kids' lift, terrain snow park with rollers, jumps, rails, boxes and more, and all on the 2,200 acres of ski and snowboard terrain, boasting an over 300 inch average annual snowfall.

Taunya Fagan Prudential Big Sky, Montana Real Estate, Bozeman, MT

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Members of the exclusive Big Sky, Montana Yellowstone Club recently came together and reached out in a big way to the Big Sky, Montana community, donating over $100,000 to The Big Sky LIFT Fund, a relief fund created to assist Big Sky families in these tough financial times.

Those eligible for the one-time Big Sky LIFT grant, must live or work in the Big Sky Resort Area Tax District.

Basically, it appears you could apply if you can demonstrate a reasonable financial need. You may be able to qualify if you have been adversely affected by the economy: for instance, you lost your job, you cannot pay your rent, medical or work-related bills. Grants are available up to $1,000 for Big Sky individuals and $2,500 for Big Sky, MT families only.

Helena-based "Montana Community Foundation" will administrate the Big Sky LIFT fund and reviewing of applications will be done by a local group of Big Sky, Montana residents. You will need to supply: 2007 tax return, and, if related, a letter of job termination and any other documents that would help demonstrate your need.

For more information on the application guidelines and rules, contact MCF at 406-443-8313. To print out the application, go to: http://www.mtcf.org/pdfs/App_LIFT_Print.pdf

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Taunya Fagan For Big Sky Real Estate For Sale - Montana Real Estate

From Moonlight Basin to the Yellowstone Club, most of the Big Sky, Montana ski resort concerns have been fixed for the winter and it's snowing here in southwest Montana. The skis are sharp, the bodies are willing, and 2-4 inches of snow are forecast for this evening; Big Sky's skiing and snowboarding season is here.

Even the Yellowstone Club is back in business, which means work through the winter for its many employees. Because of a Loan by Boston's CrossHarbor Capital of $20 Million, the Yellowstone Club in Big Sky, Montana will survive winter 2008-2009. Bankruptcy Judge for the District of Montana, Ralph B. Kirscher, Esquire, approved short-term financing Wed., November 27, 2008 that will allow the exclusive Yellowstone Club, Big Sky, MT, to keep its doors open through the Big Sky, Montana 2008-2009 ski season.

Judge Kirscher, said he will let CrossHarbor Capital of Boston, Massachusetts lend the Yellowstone Mountain Club $20 million at 15% interest, enough to pay its 600 or so employees through the winter, all of which means the Big Sky economy should remain busy and fairly vibrant through Spring 2009. The Yellowstone Club's debts hover around $400 million, with about 77% of that owed to a Credit Suisse-managed investor group.

The Butte, Montana judge was unconcerned, to the chagrin of Credit Suisse, that the ruling would give Cross Harbor additional control over the Club, which is not what Credit Suisse was hoping for. Judge Kirscher wrote that even if the true value of the Yellowstone Club's "assets is only half" of what it claims, "Credit Suisse is still over-secured."

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Taunya Fagan Big Sky Homes - Big Sky Montana Real Estate

Two financial entities are battling for control of Big Sky, Montana's Yellowstone Club, which boasts memberships by some of the world's wealthiest...

Both Credit Suisse and CrossHarbor Capital with financial help offered by some Club members, are battling for control of Edra Blixseth's bankrupt Big Sky, Montana Yellowstone Mountain Club:

Credit Suisse, failing in its attempt to setup a seven-figure loan plan, argues that because it's owed over $300M by the Club it should maintain control and is trying to block a financing deal from Boston-based CrossHarbor Capital, which has offered $20 million to maintain the club through the winter skiing and snowboarding season. Some Club members, siding with CrossHarbor Capital and Sam Byrne, showed up for the Tuesday, November 25th court proceedings, agreeing to inject an additional $5 million into Cross Harbor Capital's plan.

Credit Suisse, with substantially more owed it and carrying more weight into the court room as primary creditor, is in a parlous state because if the judge sides with CrossHarbor's plan, Credit Suisse will lose its primary creditor status, which means it wouldn't be paid first, if and when the Yellowstone Club is solvent again.

In a sort of "geometric strategy," Credit Suisse offered to continue financing the club into the first week of
December 2008, hoping it may be able to scrape up enough cash to gain control, possibly close, and sell the Yellowstone Club...

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Yellowstone Club Real Estate  - Yellowstone Club Homes

September 2, 2008 - Edra Blixseth, who recently won control of Big Sky, Montana's Yellowstone Club, and Sam Byrne, another major owner, have hired the Arizona-based Discovery Land Company. led by Michael Meldman, to manage the private golf and ski club in an effort to build infrastructure and improve amenities; finish construction projects postponed or delayed; and begin land planning and development projects, adding 450 residential, condo, and townhome residences in the coming months.

Included in these endeavors are a Family Village adjacent to the Warren Miller Lodge, additional ski facilities on Eglise Mountain, completing the previously planned golf clubhouse, building a luxury spa, finishing the ice rink planned above the parking structure adjacent to the Warren Miller Lodge, creating a baseball field, and improving programs such as fly fishing, camping, and wakeboarding.

Acording to Edra Blixseth:

Today marks a historic milestone for Yellowstone Club as we embark on the next phase of Club enhancements and infrastructure development that will fulfill The Yellowstone Club's original vision and provide our members, their families and guest with and unmatched Montana outdoor lifestyle.

I am delighted to be working with Michael Meldman and Discovery, which I know shares our vision and has the experience and creativity to enhance the mountain living and recreation lifestyle and amenities for our members and their families. This venture will help secure our position as the world’s most exclusive skiing, golf and outdoor recreation community.

Sam Byrne, of CrossHarbor Capital Partners, stated:

We are extremely pleased to have a partner like Discovery Land Company bring its world-renown[d] expertise in developing premier living and lifestyle communities. This is great news for current and future club members and their families and we look forward to a long and mutually beneficial partnership with Michael and his management team...

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Taunya Fagan Bozeman Homes - Bozeman Relocation Services

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