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Bluefin Bay's resorts on the North Shore have sold

Jul 03, 2020 08:44AM ● By Editor
Photo: Bluefin Bay

  – Staff writer, Minneapolis / St. Paul Business Journal  -July 2, 2020

The Bluefin Bay family of resorts on Lake Superior's North Shore have sold.

The resorts, located in Tofte, Minn., were on the market for more than a year. The buyers — Joe Swanson and Pipasu Soni, two business professionals who formed a management company, BFB LLC, for the deal — purchased the Bluefin properties on Tuesday. Affiliated parties agreed to not disclose the sale price, according to a news release.

Dennis Rysdahl, who co-founded and managed the properties since Bluefin Bay's start in 1984, will remain on as a consultant for at least a year to help ease the transition and mentor the management team, particularly through the Covid-19 pandemic. Rysdahl plans to retire after serving in this role.

"I’m confident we’ve selected an ownership team that is deeply committed to continuing the Bluefin Bay tradition of creating memorable vacation experiences for guests for years to come,” Rysdahl said in the release.

The sale includes all three resorts — Bluefin Bay, Surfside and Temperance Landing — as well as its restaurants, pools and other amenities. In total, the resorts have 229 bedrooms that can fit 704 guests. These include condos, suites, guest rooms and town homes.

Swanson is a North Shore native who worked at the resorts for seven years during high school and college.

To read more on this story and see related business reporting, follow this link to the Minneapolis//St. Paul Business Journal website.