SilverLeaf Financial Acquires Cornerstone Golf/Equestrian Community

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(MONTROSE, CO) -- SilverLeaf Financial, a private equity firm specializing in buying distressed debt, recently announced the acquisition of Cornerstone, a 6,000 acre luxury master planned community in western Colorado. The development is located approximately one hour north of the Telluride ski community.

The distressed property was purchased fee simple with clear title, for an undisclosed price, according to SilverLeaf. Cornerstone began development in 2006, and the community's Greg Norman-designed golf course and 6,000-square-foot golf clubhouse opened in the summer of 2008

Cornerstone features 125 fully improved lots, 56 of which have sold, leaving 69 currently available for sale. There are an additional 287 lots in various levels of improvement within the development. The development is planned for a total of 412 "Homestead" lots ranging in size from 1/4 acre to over 100 acres.

Included in the purchase were four custom built cabins constructed by the developer. Each large cabin is fully furnished with four master suites and shared amenity space. All four of these "Foursome Cabins" are currently available for sale.  The private luxury community includes a high-end 18-hole championship golf course and 20-acre practice/training area. The clubhouse includes a dining area, pro shop, men's and women's locker areas, fitness area and swimming pool/beach area.

The Cornerstone club also features a 40-acre meadow with stables and horse boarding facilities, located in the northeast and southwest portions of the development. Community residents can enjoy guided horse rides either on-site, or on over 1 million acres of public lands nearby.

The community also features an exclusive clubhouse in the nearby ski town Telluride, known as the "Mountain Club." Built to accommodate Cornerstone members for year-round use, the Clubhouse is located in the heart of the village, just steps from the ski gondola. The developer has set aside approximately 3,000 acres as open space within the development. Community residents can hike, bike and ride miles of trails with a diverse terrain.

Through its wildlife management plan, wildlife can move freely throughout the area. Cornerstone's focus on sustaining and protecting the health of the property's wildlife and natural environments is evident through their wetlands restoration, forest management, wildlife monitoring and water quality monitoring efforts inside the development.