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Online now: 0 members ; 10 anonymousDiscussion: Bell Park (Legacy Cares) gets new life
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| Jan. 5 Bruce M Men's 55 140 posts | Bell Park (Legacy Cares) gets new life As many know, Legacy Cares Park in Mesa Arizona filed for Chapter 11 Bankruptcy just 16 months after opening. "Mismanagement" was one of the causes claimed in the court filing. Blame was being tossed back and forth a lot. Looks like the park has now been sold. The new owner, AZ Athletic Associates LLC, a company founded by San Francisco-based private equity firm Burke Operating Partners LLC and Rocky Mountain Resources, closed its $25.8 million acquisition of the park on Dec. 14, 2023. With the transaction complete, the park has been renamed and rebranded as Arizona Athletic Grounds at Mesa Campus, or AAG. (Apparently, they wanted to keep the "Bell Park" name, but the bank no longer wanted its name associated with the failed enterprise). It would be interesting to know the root causes for the failure. I'm hoping other investors can learn from the mistakes that were made. Looks like a great park. I'm hoping to play there one day. It appears to have 2 Quads of Softball/Baseball including a stadium. The astroturf was intended to be state of the art. It's reported the park has reservations through 2030. I'm rooting for its success. |
