History
Silverleaf Vacation Club, Inc. was founded in 1977 by real estate developer Robert E. Mead in Tyler, Texas. the company changed its name to Silverleaf Resorts Incorporated and introduced seven resort properties; by 1998, the company was operating 13 Properties in Texas, Missouri, Massachusetts, Illinois, Georgia, and Florida. In 1998, Silverleaf Resorts, Inc. moved from a privately held company to a publicly traded company on the New York Stock Exchange; in 2001, the company traded on the American Stock Exchange; later, until 2011, it traded on the NASDAQ.
Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings, or housing." It is a legal term used in jurisdictions whose legal system is derived from English common law, such as India, England, Wales, Northern Ireland, United States, Canada, Pakistan, Australia, and New Zealand.
Missouri is a state in the Midwestern United States. With over six million residents, it is the 18th-most populous state of the Union. The largest urban areas are St. Louis, Kansas City, Springfield, and Columbia; the capital is Jefferson City. The state is the 21st-most extensive in area. In the South are the Ozarks, a forested highland, providing timber, minerals, and recreation. The Missouri River, after which the state is named, flows through the center of the state into the Mississippi River, which makes up Missouri's eastern border.
Massachusetts, officially the Commonwealth of Massachusetts, is the most populous state in the New England region of the northeastern United States. It borders on the Atlantic Ocean to the east, the states of Connecticut and Rhode Island to the south, New Hampshire and Vermont to the north, and New York to the west. The state is named after the Massachusett tribe, which once inhabited the east side of the area, and is one of the original thirteen states. The capital of Massachusetts is Boston, which is also the most populous city in New England. Over 80% of Massachusetts's population lives in the Greater Boston metropolitan area, a region influential upon American history, academia, and industry. Originally dependent on agriculture, fishing and trade, Massachusetts was transformed into a manufacturing center during the Industrial Revolution. During the 20th century, Massachusetts's economy shifted from manufacturing to services. Modern Massachusetts is a global leader in biotechnology, engineering, higher education, finance, and maritime trade.
In May 2011, Silverleaf Resorts, Inc. was acquired by Hedge Fund and Private Equity firm Cerberus Capital Management, LP for [2] $94.4 million and taken private. In subsequent months, Thomas J. Morris assumed the role of the company's CEO.
Cerberus Capital Management, L.P. is an American private equity firm, specializing in "distressed investing". The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992 with William L. Richter, who currently serves as a senior managing director. The firm has affiliate and/or advisory offices in the United States, Europe and Asia.
On May 20, 2015, Orange Lake Resorts acquired Silverleaf Resorts from Cerberus Capital Management. Orange Lake Resorts, who also owns the Holiday Inn Club Vacations brand, announced a plan shortly afterwards to re-brand each Silverleaf Resort property to the Holiday Inn Club Vacations brand. In November 2016, the last Silverleaf Resort property was re-branded to Holiday Inn Club Vacations. Although Silverleaf Resorts still exists as a subsidiary of Orange Lake Resorts, the brand has effectively been phased out.
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