OT - Forest Dunes & Black Lake

[Bob_Garvelink]

These are def two of my favorite courses in Northern Michigan and Its always a treat to play both.  I found two articles recently that provided how much cash was invested into each property. 


Forest Dunes Article


https://www.freep.com/story/money/business/2019/11/12/risky-deals-carpenters-union-pension-crisis/3907578002/


Black Lake Article


https://www.freep.com/story/money/cars/2019/11/13/uaw-ethics-reform-corruption-scandal/4179706002/

[Tom_Doak]

These types of investments are either busts or home runs.  The electrical workers' union in NYC used the Sebonack prperty as a summer camp for members' kids for many years, then sold the land near the peak of the market for $45m.