CrossHarbor wins plush private resort with $115 million bid. Unsecured creditors will be paid before Credit Suisse sees any money. Palm Coast, Florida – May 19, 2009 – The Yellowstone Club, a millionaires-only private ski and golf community near Big Sky, Montana now belongs to Boston-based CrossHarbor. CrossHarbor had provided debtor in possession financing for the […]
For borrowers who are unable to retain their home under the Making Home Affordable Loan Modification Program, the loan servicer may consider a short sale or, if that is not successful, a deed-in-lieu Palm Coast, Florida – May 18, 2009 – Help is on the way for many homeowners who are facing foreclosure, thanks to […]
When supply (inventory) drops in a supply and demand market, it’s a positive indicator. At 1,499, Flagler MLS listed homes for sale is down 38% from Oct ’07 and 13.5% from only twelve weeks ago. Palm Coast, Florida – May 17, 2009 – Two key real estate market indicators continue to provide hope for the […]
LandMar faces a foreclosure in Jacksonville and Crescent shuts down construction of a nearly completed Tennessee office building. Palm Coast, Florida – May 15, 2009 – The recent announcement by Duke Energy that its real estate joint venture may file for bankruptcy raised eyebrows in Palm Coast, Florida where Crescent Resources and its local subsidiary […]
A preliminary ruling in the Yellowstone Club bankruptcy subordinates Credit Suisse’s claim to those of unsecured creditors. The loan was similar to a $675M Credit Suisse loan to the Ginn Company Palm Coast, Florida – May 14, 2009 – US Bankruptcy judge presiding over the Yellowstone Club case ruled Tuesday that Credit Suisse would have […]
Crescent Resources, parent of LandMar Group and one of Flagler County’s largest real estate developers is high up in the tax delinquency list. Ginn is not on the list. Palm Coast, Florida – May 13, 2009 – Flagler County real estate taxes are billed in November, due on January 1 and become delinquent on April […]
Communication hints that changes are on the horizon. Members are hopeful things will get better. Palm Coast, Florida – May 11, 2009 – Hammock Beach Club members received a May 8th communication from Reynolds Management Group. Reynolds was recently engaged to provide consulting services for both Hammock Beach and Reunion Resorts, owned by real estate […]
Kemper Sports meets with the City Manager, Project Manager and Friends of Golf Steering Committee. Hoped for Labor Day opening depends on Mother Nature. Palm Coast, Florida – May 9, 2009 – A meeting was held on Thursday, May 7, between Kemper Sports representatives, the City Manager, the City Project Manager for Palm Harbor, and members of […]
Course operators no longer hold the cards in a buyers’ market. High fixed operating costs make them particularly vulnerable to declining revenue. Members may be the big losers. Palm Coast, Florida – May 5, 2009 – Real estate developers used golf courses and other high end club amenities to leverage property sales during the real […]
LandMar and Crescent own several properties in Flagler County, including Grand Haven, Grand Landing, and the majority of the Grand Club. Palm Coast, Florida – May 6, 2009 – The Charlotte Observer reports today that bankruptcy is a possibility for Crescent Resources, the joint venture of Duke Energy and the Morgan Stanley Real Estate Fund […]