Crescent Resources Golf Course Sale Update

The group with the casino connection pulled out. A group from California is rumored to have a letter of intent in place.

Palm Coast, FL – February 15, 2011 – Rumor: Crescent Resources has done a commendable job of keeping everyone, including me, in the dark about their attempts to find a buyer for its Florida and Georgia golf courses. I’m told that the group with casino connections has pulled out to be replaced by a California-based golf company. The new potential buyer is said to have a letter of intent in place. The name I’ve heard is LL Golf which is based in California.  
The letter of intent is reportedly for the purchase of Grand Haven and The Grand Club, both in Palm Coast, FL, and South Hampton, North Hampton, and Osprey Cove. Crescent Resources has been doing a lot of personnel juggling at the upper levels of its organization, so may not be in a position to address an offer at this time.
Rumor: (noun) a current story or statement withoutl confirmation or certainty as to facts

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