Financing was provided by CIB Bank. Many of the individual investors were making 1031 Exchanges.

Meghan Rutledge, spokeswoman for Syndicated Equities, tells GlobeSt.com that the purchase price will not be disclosed. She says that Syndicated Equities will have nothing to do with the operation of the club, which will continue to be conducted by Lakeshore Management, the Chicago-based company that developed the facility.

"Lakeshore remains an owner," she explains to GlobeSt.com. "We just bought some of the equity." Published reports at the time of the club's opening valued the development at $26 million. Known as Lakeshore Athletic Club-Flatiron, it is located about eight miles from the center of Boulder and 17 miles from Downtown Denver.