Wyndham Timesharing Ginn’s Remaining Reunion Villas

Rumor: 300 Villas still owned by Ginn-LA reportedly will be timeshared by Wyndham Resorts.

Palm Coast, FL – October 3, 2009 – Three hundred unsold villas in Reunion Resort near Orlando, FL remain in the hands of real estate developer Ginn-LA (Bobby Ginn plus his financial partner Lubert Adler). GoToby hears from a source close to the Ginn Company that Wyndham Resorts might be "taking over" as marketer of the villas and plans to offer them as "timeshared" properties.
The source did not know how the rumored takeover would affect ownership of the project. The villas are reportedly encumbered by a mortgage with Morgan Stanley. The villas were priced at more than $600 thousand when introduced to the market. Lender-owned and short sale units are now available well below $300 thousand.

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

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