Nearly four years into the ownership tenure that helped rejuvenate Ridgemark Golf & Country Club, the property is for sale and listed at $12 million.
It has been under the ownership of JMK Investments – run by John Kehriotis and his son Alex Kehriotis – since the spring of 2009. The listing on landandfarm.com offers the 287 acres for $12 million and it has been posted for more than two months.
Their ownership had provided renewed optimism for the Ridgemark property. They pumped millions of dollars into the golf course, buildings and other grounds, and had plans for a commercial center as well.
Alex Kehritos when reached this week said they would decline to comment at this point.
While Alex Kehriotis has been the face of Ridgemark for much of their tenure to this point, his father in 2009 absorbed the failing corporation’s debt and took over the ownership.
That came after the former Ridgemark board of directors agreed to pursue Chapter 11 bankruptcy on behalf of the 850 or so shareholders. JMK Investments then bought the deed from Fremont Bank.
