The Real Estate Industry team advised Boyne Resorts on the completion of its acquisition of six mountain resorts and a scenic chairlift attraction from Ski Resort Holdings, LLC, an affiliate of Oz Real Estate. Included in the transaction are Brighton Resort in Big Cottonwood Canyon near Salt Lake City, Utah; Cypress Mountain in Vancouver, B.C.; Gatlinburg SkyLift in Gatlinburg, Tennessee; Loon Mountain Resort in New Hampshire; Sugarloaf and Sunday River Resort in Maine; and The Summit at Snoqualmie near Seattle, Washington. Financial terms were not disclosed.
Goodwin previously represented Boyne Resorts in connection with its $400 million private offering of second lien senior secured notes, due 2025, and also represented Boyne Resorts in connection with obtaining a revolving credit facility for an undisclosed amount. The proceeds will be used to finance the acquisition of six mountain resorts and a scenic chairlift attraction from Ski Resort Holdings, LLC, an affiliate of Oz Real Estate, to refinance certain existing indebtedness and for general corporate purposes including fees and expenses related to the foregoing. The team advising on the private offering included partners James Barri, Ettore Santucci; counsel Audrey Leigh; and associate Tiffany Williamson. Partner Milena Tantcheva and associate Elizabeth Jordan worked on the revolving credit facility.
Boyne Resorts is the third largest mountain resort company in North America by total skier visits. A Michigan-based corporation, Boyne Resorts owns and/or operates award-winning mountain and golf resorts and attractions throughout the United States and Canada.