Lots of Mississippi License Plates Checking Out Crescent Resources’ Osprey Cove

From a couple different sources, it looks like a group from near Biloxi is the ‘pending’ buyer for Osprey Cove, Winding River, and maybe The Grand Club.

Palm Coast, FL – November 16, 2010 – From RUMOR CENTRAL: Multiple sources have contacted me about the pending buyers for Osprey Cove, one of the Hampton Golf-run courses being divested by recently bankrupt Crescent Resources. Details from each source vary, but the underlying theme is buyers from Mississippi and a possible casino connection.
One source has three individuals from Biloxi showing up at Osprey Cove for due diligence. On their first day, neither had business cards. They apparently had new cards done in time for the next day’s meeting. The company name on the new cards was Stone Mountain Development LLC. The Mississippi Dept. of State website lists no such company as of this afternoon. The three individuals are:
  • Dave Cicioccio – responsible for Marketing. A call to him for additional information has not been returned.
  • Frank W Johnson, Jr. – President and CEO – Mr. Johnson has not returned a phone inquiry. Johnson is listed as an officer of FJ Development, LLC and Southern Golf, LLC., both Mississippi based.
  • Patrick A. Sheehan – Principal – Mr Sheehan seems to be the same Patrick A. Sheehan who has a law practice near Biloxi, Mississippi. Internet searches indicate Sheehan specializes in real estate law, real estate development, casino interests, and Indian gaming law.

The same source indicated that the group was also the "pending buyer" for The Grand Club in Palm Coast, FL. and has shown interest in the recently bankrupt Laurel Island Links in Kingsland, Ga. That course was designed by Davis Love.

Second Source
Another source verified the Mississippi connection, commenting on the number of Mississippi license plates in the area. His version of the story included Osprey Cove, but had the name of the buyer as Mississippi Management, who also reportedly operates the King and Prince Resort on St. Simons Island, Ga. They are also rumored to be the "pending buyer for Winding River, another Georgia course owned by Crescent Resources.

Rumor: (noun) a current story or statement without confirmation or certainty as to facts

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