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Bob_Garvelink

  • Karma: +0/-0
OT - Forest Dunes & Black Lake
« on: November 13, 2019, 02:51:52 PM »
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/
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Tom_Doak

  • Karma: +1/-1
Re: OT - Forest Dunes & Black Lake
« Reply #1 on: November 13, 2019, 03:11:28 PM »
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.
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