In a small town in Montana, nestled behind the doors of the Yellowstone Club, lies a luxurious lounge featuring a scale model of the club. Managed by the Boston-based real estate firm CrossHarbor Capital, the club boasts an array of amenities including skiing, golfing, concerts, high-end restaurants, and more. With investments totaling at least $4 billion over the past 15 years, CrossHarbor has acquired various properties in Big Sky, turning it into one of the largest ski resorts in the country.
CrossHarbor’s investments in Big Sky have not only transformed the town but also made it the region’s most significant private ownership, representing 75% of the local tax base. With a population of about 3,300 residents and no official municipal government, CrossHarbor’s influence in the town continues to grow. The firm’s principal owner, Sam Byrne, has been leading the charge in this growth, investing in various projects and developments in the area.
The Yellowstone Club, originally founded by Tim Blixseth, fell into bankruptcy due to financial mismanagement. CrossHarbor seized the opportunity and, along with other club members, purchased the club for a fraction of its previous value. Since then, the firm has gone on to acquire other properties in the area, expanding its footprint and investing in luxury hotels and developments to attract high-end clientele.
Despite the challenges posed by the Covid-19 pandemic and a slowdown in growth, CrossHarbor remains optimistic about the future of Big Sky. The firm continues to expand its investments, with plans for new hotels, residential developments, and recreational amenities in the pipeline. With a focus on community-based infrastructure investments and sustainable growth, CrossHarbor aims to maintain its position as a major player in the Big Sky real estate market.
As they look towards the future, CrossHarbor remains committed to the long-term success and sustainability of Big Sky. With plans to further develop properties in the area and expand into new ventures, the firm’s impact on the town and its residents continues to grow. From luxury hotels to residential communities, CrossHarbor’s investments in Big Sky are shaping the future of this exclusive resort town.
