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Auction set for Amelia Island PlantationJuly 15, 2010 By: Staff Travel Agent
The Plasencia Group, Inc., a hospitality investment and advisory firm, announced that a date has been set for the auction of Amelia Island Plantation. The U.S. Bankruptcy Court for the Middle District of Florida scheduled August 23 at 3:00 p.m. Eastern Time as the date and time for the auction to sell the asset to a qualified bidder or bidders.
Amelia Island Company retained The Plasencia Group to conduct an auction pursuant to section 363 of Chapter 11 of the U.S. Bankruptcy Code. Through this process, Noble Hospitality Fund Acquisitions, LLC has emerged as the stalking horse bidder at $47.4 million.
Parties interested in participating in the sale process at the final auction must qualify as an acceptable bidder. The deadline to prequalify as a bidder is July 22. Due diligence must be completed by the date set forth in the bid procedures documents.
The sale procedures order/auction bidding procedures and related information may be obtained online at www.tpghotels.com and at www.loganandco.com.