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 […]
Your vote counts every day. Help our local baseball field get the Kelloggs Frosted Flakes grant. Read how to vote Palm Coast, Florida – May 3, 2009 – The Flagler County P.A.L. Baseball Newsletter announces that their local baseball field made the cut. It was selected as one of the 100 semi-finalists in a Kelloggs Frosted […]
Newsletter: Single–family home sales stable while condo and lots sales show sales improvement. Foreclosure of high value properties accelerates. Palm Coast, Florida – May 1, 2009 – The Palm Coast and Flagler County real estate market began to show some new signs of life in April. The number of building lots sold through MLS was […]
The rumor mill tells me that Darden Restaurants is looking at a location near the SuperTarget for an Olive Garden. Palm Coast, Florida – May 1, 2009 – Rumor: A previously reliable source tells me that Darden Restaurants is close to a deal that will put an Olive Garden in Palm Coast, FL. The location is […]
Ginn wants to modify the previously approved Ocean Hammock development agreement, reallocating residential density to allow a hotel and/or condos along 16th Rd and on some existing golf property. Palm Coast, Florida – April 30, 2009 – Real estate developer, Ginn-LA (Ginn plus financial partner Lubert Adler) has riled Ocean Hammock and Hammock Beach residents […]