Union buys Hillcrest Golf Club for $4.3M

23 Feb 2011 21:27 #1 by outdoor338
A local pipefitters union has snapped up the old Hillcrest Golf Club in St. Paul, paying $4.3 million for the private club and vowing to keep it private for at least two years.

The union said it hopes to breathe new life into the business, which has been in the red with sliding membership. The all-cash deal closed earlier this month.

"They've kept a very pristine course with a limited budget," said Gary Erlander, business manager for the Steamfitters Pipefitters Local 455 in St. Paul. "We've been saving money for a long time to own something."

http://www.startribune.com/business/116783973.html

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23 Feb 2011 22:18 #2 by archer
Sounds like it could be a good investment.....real estate usually is, especially when prices are down

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