Posted: Oct 6, 2013 3:06 PM by Jamie Leary - MTN News
Updated: Oct 6, 2013 6:15 PM
One of the largest real estate deals in history of Gallatin and Madison counties is now official. The sale of Moonlight Basin marks the merger between CrossHarbor Capital and Boyne.
CrossHarbor Capital and Boyne, in partnership, are in a purchase and sale agreement with a subsidiary of Lehman Brothers.
The deal closed on October 1st and things are changing beginning with one mountain, undivided with Liberty and Headwaters for all. The single ski mountain would outdo Vail by about 400 acres.
Starting October 7th, Season Pass upgrades to all 5750 acres go from as low as $199 for Big Sky Resort passholders.
Moonlight Passholders can upgrade for as low as $549. Those who have already purchased both passes, get taken care of too.
Before the official announcement, while talks were still underway, separate statements were released about the much awaited merger.
Managing Partner of CrossHarbor Capital, Sam Byrne had said, "In the near term, the transaction will provide some much needed stability to Moonlight Basin. But the investment also reflects the broader potential we see for the region and sets the foundation for long-term growth."
President of Boyne, Steve Kircher had said, "Another long-term strategic player in the Big Sky area creates the opportunity for a stable and coordinated effort in helping the community and the region fulfill its experiential and economic potential."
The purchase amount is currently unknown but we will keep you posted as new information becomes available.
For more information on lift tickets, passes and what to expect, visit this website.
[Photo by Big Sky Resort]