BILLINGS – The Yellowstone Club, an exclusive haven for the ultrarich now under federal bankruptcy protection, would be sold for $100 million to a Boston financial firm under a deal outlined in court documents.
Documents filed by club attorneys show CrossHarbor Capital Partners LLC would pay $30 million in cash and $70 million in a promissory note for the 13,600 acre club near Yellowstone National Park.
CrossHarbor also has agreed to invest an additional $50 million in capital improvements at the club and $25 million for other expenses.
The deal is contingent on court approval and other purchase offers.
The club counts Dan Quayle and Bill Gates among its 340 members, yet had been only partially developed when it fell more than $400 million in debt last year.
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