Crescent Bankruptcy Documents Reveal Grand Haven Golf Club Ownership

And the owner is: Crescent Resources, LLC

Palm Coast, FL – July 18, 2009 – Crescent Resources LLC and 130 associated entities, including its local real estate development subsidiary LandMar Group LLC filed for protection from creditors under Chapter 11 bandruptcy. tried to find out how the bankruptcy might affect the Grand Haven Golf Course. Toby is a member and his home overlooks a lake and the 11th fairway. Two separate corporate sources affirmed the fact that the Grand Haven course and clubhouse were not part of the bankruptcy. However, subsequently filed bankruptcy documents providing a list of Crescent Resources LLC’s assets tell a different story. The list includes the following:
"The golf course and related amenities associated with the Grand Haven community in Flagler County, FL, having the following tax parcel numbers: 15-11-31-2985-00000-0000, 22-11-31-5903-00000-00F0, and 22-11-5902-00000-00C0."
These parcels define the 218-acre 18-hole Grand Haven golf course and 15,558 square foot clubhouse. The Flagler County Property Appraisers 2008 assessed value for the combined parcels is $7,046,242.

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4 replies
  1. George Edward Chuddy
    George Edward Chuddy says:

    River Bend

    Dear Toby:
    Was ‘Grand Haven’ started as ‘Rver Bend’ or River something?
    Initially, was it an ITT CDC offering?
    Thank you.

  2. Dave Sullivan
    Dave Sullivan says:

    Crescent Grand Haven Ownership

    I don’t think the article plows any new ground that we don’t already know. I think Crescent had to list all their holdings under Landmar since some of then were undergoing Chapter 11 Bankruptcy. No point in being alarmist when there is really nothing new here.

  3. Toby
    Toby says:

    Reply to Rich

    You are correct about the county website data, However, Crescent Resources, INC is no longer an active company either in Florida or in SC where is was chartered. It was merged into Crescent Resources of Georgia LLC in 2000. Crescent Resources LLC does list the course and clubhouse among its assets.

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