The 1,273-acre Grenelefe Golf & Tennis Resort in Haines City, Fla. is being marketed for sale by Westgate Resorts, a time-share owner based in Orlando, reports the Tampa Bay Business Journal.
While there’s no set asking price, the sale isn’t expected to come close to the $50 million price tag agreed to by a previous suitor that was unable to consummate the deal after financing fell through, said Steve Ekovich, director of the National Golf and Resort Group at Marcus & Millichap Real Estate Investment Services.
Marcus & Millichap listed the property for sale on Dec. 11.
Westgate bought the Grenelefe resort, including 1,000 condominiums, an undeveloped 277 acres and a 3.57-acre marina site on Lake Marion in a foreclosure sale not long before Hurricane Charley hit the region in 2004. Much of the damage to the conference center, tennis center and guest registration center hasn’t yet been repaired, according to a Marcus & Millichap statement.