Posted by Jochen | Posted in Real Estate News | Posted on Wednesday, February 4, 2009
On January 27, 2009, the Sapphire Valley Master Association (SVMA) purchased Red Bird Golf Course. Included in the purchase were about 30 acres of land, the pro shop building, carts, and other maintenance equipment. The SVMA also owns the Sapphire Recreation Center, the Sapphire Community Center, and the ski area. The association refinanced their existing debt and purchased the golf course with a new note in the amount of $3,153,853 . According to the president of the SVMA, Mr. Walt Green, the association will save approximately $6,500 per month because of favorable interest rates.