You may want to scroll along down here and open up this post after the break.
The docs are presented in a large format and so, as has become potentially usual, you'll want to collapse the menu on the right hand side.
It will aid reading.
So, B-50 Investments, LLC got the remaining Ballard lot. What's conspicuous here is that the real estate formerly known as Mars Hill U-District isn't in the transaction Lot listings. But in order to establish that we have to look at the 2014 document.
Which is below the break:
But readers may have noticed there's no mention of the U-District real estate in the recently presented transaction.
And here we've got ...
Note the Lots 6 through 11 in the sale to Quest.
Obviouly the entirety of all the pertinent docs have not been quoted/presented. The most salient detail in the recent transaction between MH and B-50 is that the U-District isn't in the deal.
What has happened or will happen to the U-District property is not yet clear. There's no indication from county records it has changed ownership just yet, and yet Mars Hill formally expired at the end of the last calendar year, more or less.
A few years back it was reported to Wenatchee The Hatchet via comments that Mars Hill had basically cross-collateralized all its property debt into a single loan. This was either a great or a terrible idea depending on how reliably payments could be made, if memory serves. For some reason thoughts about Chris Rosebrough's remark on something like multi-site churches operating on leveraged debt comes to mind. For as long as Mars Hill could ensure meteoric numerical growth it could try to keep things together.
But there's that 2012 memo in which it was explained that the patterns Mars Hill had committed to were not sustainable.
Whatever B-50 Investments, LLC is/was had to do with the agreement from 2014. That may not give readers much more to work with or learn but regular readers will know that the real estate transactions and financials of Mars Hill occasionally have a history of being opaque. Maybe there's nothing much to see except a church that bunched properties together in a loan and that real estate had to be given to the lender because the corporation that borrowed closed its doors.