Sports Club A Done Deal
advertisement
Interact With Us
Best of 2011
Top Stories of 2011
The most popular stories of 2011. Did your favorites make our list?
Resource Center
Buyers Guide
Find industry businesses by product or service categories, view company profiles and more.
Club Industry Trade Show
Club Industry Show and Conference, held each October, is the premier event for fitness and wellness professionals. Find out more about Exhibitors, Events, and Education.
Industry Events & Trade Shows
The industry-wide calendar features listings for educational events, trade shows and more.
Classifieds
View classified ads for health club equipment and services, plus business opportunities and job postings.
Current Issue
Read stories from the latest print issue of Club Industry magazine.
Club info and News
Read news about some of the biggest names in the industry.
- 24 Hour Fitness
- Anytime Fitness
- Bally Total Fitness
- Crunch Fitness
- Club One
- Curves
- Equinox
- Gold's Gym
- Health Fitness Corp.
- LA Fitness
- Life Time Fitness
- Lifestyle Family Fitness
- Planet Fitness
- Plus One Management
- Powerhouse Gyms
- Snap Fitness
- Spectrum Athletic Clubs
- Sport & Health
- Town Sports International
- Sports Club Co.
- Urban Active
- Wellbridge
- Western Athletic Clubs
- World Gym
E-Newsletter Signup
Breaking news on the industry, people on the move, mergers and acquisitions and much more. Delivered weekly.
NEW YORK — Last month, Millennium Partners completed its $80 million purchase of five of the Sports Club Co.'s clubs. Millennium Partners is a real-estate developer and the company's largest shareholder.
Sports Club Co. received $50 million in cash from the sale (before transaction related costs) and two notes from Millennium for the remaining $30 million, the first note of which was due Jan. 31. Concurrent with the sale, Sports Club Co. completed a $60 million financing of the Sports Club/LA — Los Angeles property. Proceeds from these transactions were used to retire the company's $100 million senior secured notes that were due to mature in March.
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
Acceptable Use Policy blog comments powered by Disqus