Blue Mountain Ski Area has secured financing from Community Bank as part of a debt refinancing. EdgePoint identified financing sources, led the negotiations and served as exclusive financial advisor to Blue Mountain Ski Area. Terms of the transaction were not disclosed.
Originally named Little Gap Ski Area in 1977, the area was re-established as Blue Mountain in 1989. As the largest ski area by vertical feet in Pennsylvania, Blue Mountain is currently home to 164 acres of skiable terrain and boasts the highest vertical drop in the state at 1,082 vertical feet. In addition to the 39 ski trails, 16 lifts, and 22 tubing lanes, Blue Mountain maintains a full-service mountain top restaurant, 21 lift access bike trails, three disc golf courses, four ropes courses, and three outdoor laser tag fields – the variety of amenities makes Blue Mountain a true four-season resort.
Community Bank, N.A. is the wholly-owned national banking subsidiary of Community Bank System, Inc. (CBSI), whose predecessor bank was the St. Lawrence National Bank, chartered in 1866. Community Bank maintains its headquarters in DeWitt, New York and is a full-service financial institution, offering complete consumer, business, and financial services. Community Bank has over $7 billion in assets and more than 180 customer facilities across Upstate New York and Northeastern Pennsylvania.
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