Financing was provided by CIB Bank. Many of the individualinvestors were making 1031 Exchanges.
Meghan Rutledge, spokeswoman for Syndicated Equities, tellsGlobeSt.com that the purchase price will not be disclosed. She saysthat Syndicated Equities will have nothing to do with the operationof the club, which will continue to be conducted by LakeshoreManagement, the Chicago-based company that developed thefacility.
"Lakeshore remains an owner," she explains to GlobeSt.com. "Wejust bought some of the equity." Published reports at the time ofthe club's opening valued the development at $26 million. Known asLakeshore Athletic Club-Flatiron, it is located about eight milesfrom the center of Boulder and 17 miles from Downtown Denver.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
