The Chapter 11 Trustee engaged SSG in February 2013 to explore all strategic alternatives, including a sale of substantially all of the Club’s assets. With the Club’s highly coveted property acting as an attractive investment opportunity to a wide variety of buyers, SSG marketed Woodcrest and all of its assets to a wide range of golf course operators, real estate developers and various financial parties, ultimately receiving several offers. SSG delivered a stalking horse bidder for the club’s assets and produced multiple bidders (four), culminating in a 363 auction with robust bidding. Cherry Hill Land Associates LLC, an affiliate of the First Montgomery Group, produced the highest bid, acquiring the Club’s property and all of its assets. The final purchase price totaled $10.1 million.