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Article: Golf Trust of America, Inc. Announces Expiration of Agreements to Sell Three Golf Courses to Emerald Dunes Golf Group.
- Article from:
- Business Wire
- Article date:
- February 1, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors/Real Estate Writers
CHARLESTON, S.C.--(BUSINESS WIRE)--Feb. 1, 2001
Golf Trust of America, Inc. (AMEX:GTA) today announced that its agreements to sell the Emerald Dunes, Polo Trace and Cypress Creek golf courses have expired as a result of a failure by the proposed purchasers to satisfy applicable closing conditions in a timely manner.
The three golf courses are located in the Palm Beach area of South Florida and the proposed purchasers are the current lessees of the golf courses, or their affiliates in the Emerald Dunes Golf Group.
W. Bradley Blair, II, president and chief executive officer, stated, "Emerald Dunes, ...