NBC Portland: 'Money isn't there' for Majella Group Saddleback Purchase
Saddleback's current ownership's 'instructions are not to say anything.'
Tuesday, November 21, 2017, NewEnglandSkiIndustry.com
Majella Group Global Headquarters in Australia
In an investigative piece released this evening, NBC's Portland affiliate WCSH6 is reporting that it has "learned exclusively that the money isn’t there" for the proposed Saddleback sale.
Reporter Kristina Rex visited Irene Berry, co-owner of the resort, who stated on camera, "our instructions are not to say anything."
Rex also contacted the prospective buyer of the resort, Majella Group CEO Sebastian Monsour, who via phone stated, "this is a complex deal that has many conditions to the sale that we are working through with our finances."
Rex concluded the report by stating, "if the group doesn't come up with the money soon, the deal could fall apart entirely" and that further investigative reporting is forthcoming.
Shortly after the NBC report, Saddleback Mountain Foundation Executive Director Crystal Canney posted on Facebook: "The Saddleback Mountain Foundation has great respect for the Berry Family and is not privileged to any ongoing negotiations. We will not be commenting on these posts surrounding news stories. As always, we hope for the best outcome for the mountain and the surrounding communities."
As reported last week on NewEnglandSkiIndustry.com News, the Saddleback Mountain Foundation has remained in tact, despite its purchase offer being passed over by the Berry family in favor of the Majella Group in June. The Saddleback Mountain Foundation received 501(c)(3) non profit status from the IRS earlier this month.
Despite being touted as "the leading developer in southeast Queensland, Australia," Majella Property Development has only completed one project in its homeland, the controversial Radius Apartments development in 2014.
In the United States, the Majella Group redeveloped the Williston-West Church, which has twice had tax liens slapped on it by the City of Portland.