Ginn May Be Back On to Buy Bulow Shores

Also, Centex Executive Looking to Buy Marineland

April 21, 2007 – Two rumors for the price of one.

1.  I’m told by a source close to both parties that Bobby Ginn is buying Bulow Shores from Centex Destination Properties (CDP). Bulow Shores was part of the original rumor that became a story which ultimately brought us Ginn’s purchase of the Ocean Hammock Golf Course and Lodge at Ocean Hammock. in a recent written document to the City of Palm Coast, CDP stated their position and plans for other local properties. Mention of Bulow Shores was conspicuously absent from that communication. Bulow Shores proximity to the Gardens at Hammock Beach development on John Anderson and its several large Intracoastal and Intracoastal access lots make it naturally desirable for Ginn. At this time, construction has not commenced at Bulow Shores. Site development work at The Gardens is well underway and properties have been released.

2.  Another CDP project has given birth to a second rumor – A current Centex executive is trying to arrange financing to purchase the Marineland condominium project from CDP. CDP revealed its plan to seek a buyer for this project in the above mentioned document to the City. No construction has begun at this time.