Alpine Valley Music Theatre in Walworth County sold for $7.5 million to Florida real estate investor Consolidated-Tomoka Land Co., and will continue to be managed by events promoter Live Nation Entertainment Inc.

Consolidated-Tomoka announced the acquisition Tuesday. It is the company’s first purchase in Wisconsin, but it owns more than $444 million of properties in 15 other states.

Alpine Valley, with 195 acres and a capacity of about 37,000 people, is leased to event promoter Live Nation Entertainment. Live Nation has 11 more years remaining on its lease, according to Consolidated-Tomoka.

The sale ends the about 25-year ownership of the music venue by Zilber Property Group in Milwaukee. Zilber in 2014 had announced its effort to sell the East Troy venue.

Read the entire article at Milwaukee Business Journal