Osprey moves forward with renovation plans and upgrades
GAYLORD, MI – (February 23, 2007) – Osprey Recreational Properties is pleased to announce that it has finalized the purchase of the Otsego Club & Resort located in Gaylord, Michigan. Acquisition of the property includes Otsego’s "core" facilities consisting of the main lodge, restaurants, hotel / lodging accommodations, special event center, two world class golf courses, and the Midwest’s only private ski club. This acquisition will make Osprey Recreation one of the largest owner/operators of golf and resort facilities in Michigan. Terms of the purchase were not disclosed.
"We are thrilled with the opportunity to acquire this property. The Otsego Club compliments our existing Recreation Portfolio through economies of scale and furthers Osprey’s investment strategy in this area of our business", said Michael J. Biber, Managing Partner of Osprey S.A. Ltd.
Osprey is already making an impact on the property with multi-million dollar renovations. Preliminary renovations are underway in the main lodge and guest rooms. John Meusling, with Osprey’s Construction and Development group has been directly overseeing the improvements.
"On a lot of days, we have had more than 100 guys here working at any one given time, I think that people are really going to be impressed with some of the things that we have been able to accomplish in just the last month".
Among the many projects Meusling is overseeing include new interior finishes, furniture, heated walkways leading into the lodge, and the private dining areas for small groups. Renovations are also underway outside on the private ski slopes including new tubing runs, improved lighting, and multiple fire pits. The popular après-ski destination, the "River Cabin" located at the base of the ski slopes is undergoing improvements as well.
"One of our primary short-term goals was to maintain Otsego’s old world charm, while at the same time immediately providing amenities and noticeable improvements that would enhance every member and guest’s visit to the property." stated Biber.
Otsego Club & Resort has been a fixture in northern Michigan.
Founded in 1939, Otsego Club & Resort has remained a prominent fixture in the Gaylord area ever since. In its present state, the Otsego Club is a year round full service resort home to 36 holes of championship golf, which includes the Classic course and the scenic Tribute course designed by NBC commentator Gary Koch. Otsego Club is equally well known as a family winter destination, boasting the Midwest’s only full-service private ski facility with 28 runs, five chairlifts and a top-notch challenging terrain park.
In addition, the resort offers 117 lodge rooms, suites, and condominiums, over 24,000 square feet of meeting space, and three restaurants, including the award-winning Duck Blind Grille and The Pontresina, a multi year winner of the Wine Spectator Award of Excellence.
Detroit News readers recently named the Otsego Club "Michigan’s Best Golf Resort". For more information on The Otsego Club and Resort, please visit www.otsegoclub.com or call 800.752.5510.
Osprey Recreation brings a wealth of knowledge in the golf and resort industry.
Osprey’s recreational properties division owns a number of other resort and golf properties around Michigan giving them a wealth of knowledge in the industry and the Michigan market. Osprey’s properties include Manistee National Golf and Resort featuring Canthooke Valley and Cutter’s Ridge in Manistee, Black Forest and Wilderness Valley in Gaylord; The Medalist in Marshall; and Ridgeview Golf Course in Kalamazoo.
Osprey is a privately held real estate investment company that owns, develops, leases and manages commercial real estate for various "Osprey" holding companies and partnerships in Michigan, Florida, North Carolina, and other areas in the Southeast United States.
For more information on Osprey Recreation, please visit www.golfosprey.com.
Contact:
Jason Biber, (810) 225-9660, jbiber@ospresysa.com
Media Contacts:
Resort & Golf Marketing
Kevin Frisch (989) 614-0241, kevin@resortandgolf.com
Dave Richards (248) 642-6420, dave@resortandgolf.com