SAM Magazine—Jackson, N.H., Sept. 23, 2025—After Indy Pass and Entabeni Systems acquired the Black Mountain ski area business and its assets (equipment, buildings, lifts, and other infrastructure) last year, the Black Mountain Community Corporation—the entity formed as the financial vehicle to fund and run the ski area—has now closed on its purchase of three parcels of land on which the ski area sits. The land was owned by John Fichera, who owned and operated Black Mountain for about 30 years. 

A handful of investors, all of which met the Securities and Exchange Commission definition of an accredited investor, who provided part of the capital for the two transactions involved became shareholders of the corporation. 

Indy and Entabeni owner Erik Mogensen told SAM it was a complicated transaction due to the involvement of communication and cell towers at the summit, which are on one of the three parcels that was acquired from Fichera, as well as various other previously pending issues including property line disputes and questions about land use. 

Mogensen said those issues needed to be cleaned up before the acquisition could go through and the corporation could move forward with its plan to offer ownership shares of Black Mountain to the public, which has been the plan since last year. 

“We continue to move forward with our SEC Regulation A filing,” Mogensen said in a letter announcing the land acquisition. “This exemption will allow us to offer shares to the general public with certain limitations, ensuring that the community can have a part and say in the ownership and direction of the mountain.”

The total land area encompasses about 175 acres. Mogensen said there is developable property as part of it, but there aren’t any plans for development in the near future. The cell towers, which were purchased in a related deal, were sold to a communications group shortly after closing, said Mogensen. Black Mountain Community Corporation retained control of the land they’re on.