Loch Lomond Up For Sale**
/The credit crunch forces Lyle Anderson's hand...
Its 700-strong membership is thought to include no more than 100 UK members, each paying fees of up to £40,000.
In a letter to members, Mr Anderson said: "I am confident the bank shares my view that Loch Lomond Golf Club is one of a kind in the world.
"I have explored many alternatives, including restructured loan arrangements and potential sources and terms for additional equity.
"Regrettably, I have been unable to conclude arrangements for a restructured credit facility with the Bank and have been unable to raise new equity or debt."
He wrote that plans to take "a co-operative approach with the bank" to avoid disruption at the club and said he had agreed to "facilitate change of ownership at the appropriate time".
Mr Anderson added that he is pursuing his own "vigorous independent search for new equity or debt funding for the communities and clubs."
And it's not just Loch Lomond:
Upscale golf course community developer Lyle Anderson Cos. has lost control of four large projects including Superstition Mountain in the southeast Valley.
The other properties include Las Campanas in Santa Fe, N.M., Hokuli'a in Hawaii and Loch Lomond Golf Club of Scotland.
The Scottsdale-based developer's lender and partner in the projects, the Bank of Scotland, has taken control of the properties and handed over management to a firm named Oasis Management Resources.
