Bluefin Bay Family of Resorts

Three lakeside resorts. One family.
Tofte, MN
235 Bedrooms • Trophy Asset on Lake Superior
Sold
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SVN | Northco was engaged as the seller’s representative for the sale of the Bluefin Bay Family of Resorts property located in Tofte, MN on the North Shore of Lake Superior (“Bluefin Bay”), and was able to successfully transact the 30+ year old resort to a buyer that grew up in the area.

Since its inception in 1984, Bluefin Bay has won numerous top accolades including “Minnesota’s Favorite Resort” and “Most Romantic Resort in Minnesota” in a number of notable publications including Minnesota Monthly Magazine and the Star Tribune. The property has 229 bedrooms and consists of three resorts – Bluefin Bay, Surfside, and Temperance Landing - numerous award-winning restaurants, pools, a spa, event facilities, numerous indoor and outdoor resort amenities, retail, significant employee housing, and more. The property has a capacity of 704 guests.

SVN | Northco was able to help advise on numerous matters including association management, business analysis and financing in order to help get the transaction closed.

"I highly recommend the SVN Northco team to anyone considering buying or selling a resort property."

“When I decided to sell the Bluefin Bay Family of Resorts, with which I have been involved since its inception in 1984, I reached out to various industry contacts to seek recommendations on the best broker to use.

SVN Northco was recommended highly and repeatedly so I gave them a call. I met initially with Frank Jermusek and Cameron Peterson, a team soon joined by Edward Rupp. Frank and team proved to be very knowledgeable about the midwestern resort industry. They understand how properties like ours operate, how to value them, and how to best present them to prospective buyers. They provided excellent assistance to me in assembling the necessary information, and put together a very thorough and professional looking presentation on our resorts.

SVN had dozens of inquiries on our property and were very helpful in screening prospective buyers to make sure we spent time only with those with reasonable financial and operating capabilities. We ended up in serious discussions with several buying groups and were able to choose one that we believe will successfully carry on the traditions of quality, hospitality and customer service that have defined the Bluefin Bay Family of Resorts. I highly recommend the SVN Northco team to anyone considering buying or selling a resort property."

Dennis Rysdahl
Owner of Bluefin Bay Family of Resorts, Seller

"SVN Northco was professional and knowledgeable surrounding selling the top tier Minnesota Resort property."

“SVN Northco was professional and knowledgeable surrounding selling the top tier Minnesota Resort property. They were aware of the complexity of a full service property with multiple key stakeholders in the Bluefin Bay family of Resorts community.

They had advised the seller surrounding the needed documentation for the process and that was also very helpful as the succession plan of Bluefin Bay came together. SVN was aware of what this property means to the seller, the guests and the owners at Bluefin Bay and were responsive with our questions as buyers."

Joe Swanson
Partner, BFB Management, Buyer

Press Article

Bluefin Bay Family of Resorts
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