MCC Partners LLC bought the 106-year-old property from members. The purchase price has not been revealed, but the investors paid some of the debt that the club owed to a local bank, which was “just north of $3 million.”
A group of local investors known as MCC Partners LLC are now the owners of the 106-year-old Muskegon (Mich.) Country Club, Michigan Live reported.
The club had been a non-profit organization owned by its membership, but it became a for-profit company when the 12-member group paid some of the the club’s debt owed to Community Shores Bank, which was “just north of $3 million” according to the groups’ attorney Paul Jackson.
Jackson couldn’t say the exact amount the ownership group paid to Community Shores Bank to expunge the debt and take control of the club and all of its assets. The identities of the ownership group has not been released, Live reported.
The deal with the group of investors, operating out of Spring Lake, Mich., became official on November 10, Jackson said.
Jackson added that the ownership group is in the process of bringing more investors from the club’s membership into the fold, Live reported.
Members of the club likely won’t notice any drastic changes in terms of operations and dues, but Jackson said several improvements have already been made to the club. Among them are the repaving of the parking lot, the replacing of the club’s boilers and preliminary redesigning of the club’s interior, Live reported.
A conditional liquor license has also been approved and more changes are in the works, Jackson said.
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