|Published: 11:50 AM, 09/17/2012
Source: The Blowing Rocket
Southeast LandCo Acquisition Fund, a fund sponsored by Reynolds Capital Group, announced Sept. 4 the acquisition of Lubert-Adler’s remaining interests in Blue Ridge Mountain Club.
SELAF now owns 100 percent of Blue Ridge Mountain Club, a debt-free private mountain community located outside Blowing Rock.
SELAF and Lubert-Adler were joint owners of the community since 2008.
“Lubert-Adler has been a great partner and helped start what is now Blue Ridge Mountain Club,” said Scott Denbow, managing director of Reynolds Capital Group. “This acquisition demonstrates our continued commitment to this exceptional community. We look forward to the future as we strive to transform Blue Ridge Mountain Club into the premier private club community in the High Country.”
Blue Ridge Mountain Club is a 6,200-acre, private mountain community situated just off the Blue Ridge Parkway. With completed infrastructure in place, BRMC features views, abundant natural amenities and a variety of real estate options ranging from home sites to cottages and estate homes.
“There are so many exciting things happening at Blue Ridge Mountain Club,” said general manager Jim Pitts. “The established sense of community and ongoing home construction is evidence of the enthusiasm our members and the marketplace have for this special place. This, combined with our strong financial footing, reinforces the security for our owners. Knowing that the community will continue to thrive and move forward enables us to turn our focus to the future and grow this wonderful place situated right in the heart of the High Country.”
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