Colorado course sells to make way for refinancing of project

Trinidad Golf LLC sold Cougar Canyon Golf Course in Trinidad, Colorado to National Services Administration, a privately owned, Minneapolis-based financial services company, The Trinidad Times reported.

Pete Schrepfer, an executive with Trinidad Golf, told the Trinidad Times that the sale is part of a refinancing project and that operations will continue as usual at the course. Schrepfer said there was no debt involved with the golf course, and that the sale was made to make it easier to refinance the project.

“The partners decided it was in the best interests of Cougar Canyon to allow NSA to purchase the golf course to make the refinancing process, which is occurring, easier and more seamless with the bank and all parties involved,” Trinidad Golf stated in a press release.

NSA took over the failed Bank of Wyoming, original backer of the Cougar Canyon development project, which was declared bankrupt in April 2009.

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