Quantcast
Don't Miss

Judge OKs sale of Wisp resort to Kansas group

HAGERSTOWN — A bankruptcy court judge has approved the sale of Maryland’s only ski resort to a unit of a Kansas City-based real-estate investment trust for $23.5 million.

A judge in Greenbelt approved the sale of the Wisp resort to EPT Ski Properties, a unit of EPR Properties, on Tuesday. The judge also approved the sale of a golf course and other land to National Land Partners for $6.1 million.

The resort filed for Chapter 11 bankruptcy protection in 2011 after defaulting on nearly $30 million in loans it had received from BB&T Corp. of Winston-Salem, N.C., to build a golf course community near the ski hill. Home sites in the Lodestone golf-course development didn’t sell as well as expected.

Formal closing dates for the sales are expected in December.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

 
Scroll To Top