Life Time Acquires Cherry Creek Athletic Club

Life Time, Chanhassen, Minnesota, has acquired Denver-based Cherry Creek Athletic Club for an undisclosed sum, Cherry Creek Athletic Club recently disclosed on its website.

Cherry Creek Athletic Club's transition as a Life Time property went into effect on Sept. 6, and members are being required to change their memberships. Cherry Creek Athletic Club was owned by Denver-based Millice Group Ltd., a commercial real estate investment group, since 1994.

"Cherry Creek Athletic members can expect a seamless transition with the same club access privileges they have today in addition to access to all other Life Time clubs in the Denver market, along with other Life Time destinations across North America," the website statement reads.

A Life Time spokesperson said that the only announcement it put out about the purchase was an announcement sent to members, but Life Time declined to share that announcement with Club Industry. The Millice Group did not immediately respond to Club Industry's request for comment.

Cherry Creek Athletic Club ranked No. 73 on Club Industry's Top 100 Health Clubs of 2019 list with $9.30 million in reported 2018 revenue, while Life Time ranked No. 2 with $1.750 billion. These were year-over-year increases of 0 percent and 12.9 percent, respectively.

Cherry Creek Athletic Club is the second community-centric athletic club business Life Time has acquired during the summer of 2019. In July, Life Time entered into a collaboration agreement with the owners of New York Health & Racquet Club, New York, to transition four New York Health & Racquet locations to Life Time HRC. As of July, Life Time claimed 144 locations across 39 markets in the United States and Canada.

In other local news, luxury club Pura Vida—located less than two miles north of Cherry Creek Athletic Club—closed in April due to financial struggles. In February, Club Greenwood—located eight miles south of Cherry Creek Athletic Club in Greenwood Village—completed a rebranding project that changed its name from Greenwood Athletic and Tennis Club.