Daryl Hagler has emerged as a white knight for struggling landlords lately. He’s now on the verge of turning into the savior of a preferred summer time camp in upstate New York.
Hagler’s entity, DHAN Masores, provided $5.6 million to accumulate Camp Mesorah, an Orthodox Jewish summer time camp in Guilford, New York, from Simad Holdings. Simad, the proprietor of 30 camps, is promoting its camps by way of chapter. Hagler beforehand supplied the camp with debtor-in-possession financing to maintain operations, permitting him to make a credit score bid. He plans to inject $2.2 million into the camp, in keeping with a Tel Aviv Inventory Change submitting.
Camp Mesorah was valued at $6.1 million in 2025 with projected income of over $4 million a 12 months. The camp sits on greater than 100 acres of land and fees about $6,000 per session.
Hagler is including to his diversified traces of enterprise. He made his fortune working Facilities Well being Care together with his enterprise accomplice Kenneth Rozenberg, and now serves as vice chairman of the Israeli nationwide airline El Al, which Rozenberg owns. Hagler has additionally backed prolific Brooklyn dealmaker Isaac Hager, and supplied debtor-in-possession financing for Moshe Silber’s struggling actual property portfolio.
Hagler nor his legal professional Jeffrey Zwick returned a request to remark. Camp Mesorah didn’t instantly return a request for remark.
Simad, led by Michael and David Shabsels, raised about $200 million from Israeli bondholders in December. The corporate missed its first fee in Could and revealed about $34 million of funds had been diverted to the Shabselses corporations. Simad and the brothers filed chapter in June. Simad, now run by a restructuring officer, faces legal investigation from the Israel Securities Authority and the US Division of Justice.
The camps have acquired intensive curiosity from traders, in keeping with courtroom filings. 5 of the stalking horse bids have come from current camp operators, or co-owners of the camps. Thus far, eight camps have received offers, both by way of a stalking horse bid, which units a worth ground for an public sale, or a private sale. Objections to the stalking horse bids are due Friday. A sale listening to is scheduled for Aug. 4.
Some objections have already been filed in chapter courtroom filings. Camp mother and father filed dozens of emails to the chapter courtroom choose objecting to Ohel Youngsters’s Residence and Household Companies’ stalking horse bid of $12 million to accumulate Camp Echo. Ohel, a non-profit Jewish social providers company, shouldn’t be planning to proceed Camp Echo beneath its current model, in keeping with a chapter courtroom submitting. A board of administrators of a neighboring neighborhood of fifty houses additionally despatched a letter to the choose, fearful in regards to the affect.
“What’s to stop OHEL from pulling down the camp and changing it with excessive density housing?” the letter mentioned. “The place is the priority for the current neighbors and neighborhood and our properties?”
In one other objection, Enhanced Capital Pennsylvania Rural Fund described the way it had supplied a $2 million mortgage to Simad’s Camp Inexperienced Lane however allegedly had a assure backed by the property of one other camp, Camp Chen-a-Wanda. Enhanced Capital’s allegations present the complexity and messiness of the Simad chapter, through which Simad and the Shabselses seem to have double pledged and cross collateralized debt, which means a number of lenders might declare a lien on the identical property.
| Camp | Bidder | Supply | Appraised Worth |
|---|---|---|---|
| Achim | Camp Achim LLC, Joseph Willner | $7M | $6.3M |
| Island Lake | CMAO, LLC, Craig Odiorne | $10M | $14.4M |
| Mesorah | DHAN Masores LLC, Daryl Hagler | $5.6M | $6.1M |
| Mohawk | Grandview Ventures, David Zaslav | $68M | $85.8M |
| Pine Forest, Timber Tops, Lake Owego | Mitchell Black, Camp Administration Companies | ~$12.8 million + Assumption of Wayne Financial institution debt | $34.4M |
| Chen-a-Wanda | Eleven11 Holdings LLC, Jon Grabow | $17 million | $15.1 million |
| Echo | Ohel Youngsters’s Residence and Household Companies, Inc. | $12 million | $9.8 million |
| Lokanda | 18 Lions LLC, Ronen and Dana Gabbay | $18.15 million | $18.5 million |
Supply: 2025 appraisal performed by the U.S.-based Leitner Berman, courtroom paperwork
SSG, the funding agency dealing with advertising and marketing of the gross sales course of, had contact with about 70 potential purchasers as of late June, in keeping with courtroom filings, although Simad hasn’t publicly shared bidders for 21 different camps in its portfolio. One Simad camp, Willow Lake, shouldn’t be a part of the chapter proceedings.
Spencer Davis contributed reporting.
Learn extra
Summer camp sales mark the next chapter in Simad’s collapse
DOJ launches criminal investigation into camps owner Simad Holdings, David and Michael Shabsels
“They loved debt”: How the Shabselses’ play to leverage a half-billion-dollar summer camp empire spiraled into bankruptcy
