Investors express interest in Vermont ski resort
NEWFANE, Vt. (AP) — Two investors have expressed interest in a private Vermont ski resort that filed for foreclosure.
The Brattleboro Reformer reports Rich Bonnanzio, of Milford, Connecticut, extended a $26 million term sheet. An attorney for Hermitage founder Jim Barnes says Connecticut developer Mark Greenberg plans to make an offer to Berkshire Bank on Tuesday.
Attorneys for Berkshire Bank say the property still needs a receiver even though investors have submitted offers. They say a receiver will maintain the resort’s value and ensure the property is protected.
The resort was foreclosed on in February after failing to make payments on more than $16 million in loans.
The Hermitage Club hosted “The Bachelor Winter Games,” a four-episode spin-off of “The Bachelor” that ran in conjunction with the Olympics.
Information from: Brattleboro Reformer, http://www.reformer.com/