Brighton sold
- Thread starter Admin
- Start date
Why did this company buy Brighton if it can't create much in the way of real estate? Are they just betting that the value is going to increase, with the buyback option as a worst-case scenario?
ChrisC
Well-known member
This transaction is complete BS.
$35M seems very low. I bet Brighton is cash cow - in a growing state like Utah, no snowmaking needed, SLC build-out, etc
What is going on here?
A long-term lease like this is the same as owning the resort of Brighton - especially accounting-wise. So Boyne is not changing anything.
The REIT - CNL - is most likely f-ed these days - looking for investments in an over inflated real estate market. Due to the disparity between rent/buy prices, it is great to become a rental landlord - especially if you can get the asset for a cheap price. And that's what they did.
So now Boyne has $35M to play with.
And you know where that is going? Other Boyne properties with a better economic future...unlike Brighton.
Crystal Mountain, WA and Big Sky, MT
Me likey master plan for Crystal...although goodbye North Country.
Me no likey stamps for free sw.
$35M seems very low. I bet Brighton is cash cow - in a growing state like Utah, no snowmaking needed, SLC build-out, etc
What is going on here?
A long-term lease like this is the same as owning the resort of Brighton - especially accounting-wise. So Boyne is not changing anything.
The REIT - CNL - is most likely f-ed these days - looking for investments in an over inflated real estate market. Due to the disparity between rent/buy prices, it is great to become a rental landlord - especially if you can get the asset for a cheap price. And that's what they did.
So now Boyne has $35M to play with.
And you know where that is going? Other Boyne properties with a better economic future...unlike Brighton.
Crystal Mountain, WA and Big Sky, MT
Me likey master plan for Crystal...although goodbye North Country.
Me no likey stamps for free sw.