Ever on the prowl for under-performing vacation properties, Northlight Financial LLC has acquired a controlling interest in the Seven Canyons resort community in Sedona, Arizona. The community features a Tom Weiskopf-designed golf course that had been highly regarded until its previous owners stopped watering it.
“It’s a beautiful golf course in one of the most spectacular settings in North America,” a Northlight official said in a press release. “The potential is enormous.”
Northlight, which was founded by former executives from GE Capital, acquired Seven Canyons in a bankruptcy court proceeding. The company also claims to have a financial stake in two other golf properties, Quintero Golf & Country Club in suburban Phoenix, Arizona and Snake River Sporting Club outside Jackson, Wyoming. The course at Seven Canyon is now open to the public, but it was originally the centerpiece of a private club where initiation fees ranged as high as $175,000.
