Burke Mountain now under ownership of Bear Den Partners
BURKE, Vt. (ABC22/FOX44) – After a near-decade of government ownership, Burke Mountain Resort has new owners.
Bear Den Partners announced 'a new era' for the slopes on Burke Mountain's website. Members of BDP include the Schaefer family, Burke Mountain Academy and the Graham family, who bought the area in 2000 to save it from shutting down.
The resort reportedly sold for $11.5 million.
In a release, BDP wrote that they plan to go after 'systemic issues' that have been ongoing problems at the mountain like 'ride lifts up, ride trails down, eat good food and sleep.'
This purchase comes years after the EB-5 scandal, and the receivership which began in 2016. The EB-5 incident, in which foreign investors lost billions of dollars, is considered one of the biggest cases of fraud ever in Vermont.
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