DAVID DISHNEAU Associated Press
November 09, 2012 - 4:30 pm EST
They filed for Chapter 11 bankruptcy protection in October 2011 after defaulting on nearly $30 million in loans they had received from BB&T Corp. of Winston-Salem, N.C., to build a golf course community near the ski hill. The partners say home sites in the Lodestone golf-course development didn't' sell as well as expected in the recession.
The deal with Entertainment Properties doesn't include the Lodestone development, Myers said. The deal would include a purchase of about 600 acres and long-term leases on another 250 acres, she said.
Entertainment Properties or its subsidiaries own 11 other ski areas in Indiana, Missouri, New Hampshire, Ohio, Pennsylvania and Vermont, according to the firm's 2011 annual report. Its other investments include multiplex theaters, entertainment retail centers, wineries and public charter schools.
The publicly traded company reported total revenue of $301.7 million in 2011, up 4 percent from $289.8 million the previous year.
Entertainment Properties said last month it will change its name on Nov. 12 to EPR Properties.