Saturday, November 28, 2015

Golf wars: Hershey shuts, Woodcrest for sale

Overpriced trophy properties will be developed

Golf wars: Hershey shuts, Woodcrest for sale


Milton Hershey School is shutting the golf course the $9 billion-asset charity bought at an above-market price from an insider back in 2005, my colleague Bob Fernandez, who's chronicled a string of Hershey transactions, reports here. The school is under scrutiny by state Attorney General Kathleen Kane, first Democrat elected to that post to probe an institution that's long been the subject of protective actions by her Republican predecessors.

Separately, the Brown family's fight to get hold of Cherry Hill's historically Jewish country club, Woodcrest, appears to be succeeding, as a South Jersey judge confirms a trustee favorable to the Brown's Sun National Bank and other creditors, my colleague Joe Gambardello reports here.

The club has remained open though the trustee, Blank Rome lawyer Bonnie Glantz Fell, is moving toward offering the 155-acre property for sale. The Brown family (patriarch Bernie, senior son Sid) have been wrestling Woodcrest club chairman Irv Richter (of Hill International) and his allies for control of the rare open suburban property since Woodcrest defaulted on an $8 million Sun loan that funded a financially unsuccessful clubhouse project a few years back, as I reported here in 2010.

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About this blog

PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

Reach Joseph N. at, 215.854.5194, @PhillyJoeD. Read his blog posts at and his Inquirer columns at Bloomberg posts his items at NH BLG_PHILLYDEAL.

Reach Joseph at or 215 854 5194.

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