By Ryan Conley, Ocala Star-Banner, Fla. Knight Ridder/Tribune Business News
Feb. 6--OFFER MADE FOR COUNTRY CLUB: A stipulated purchase offer of $8.75 million is on the table for Lake Diamond Golf & Country Club, a move that is among the latest actions rising from the bankruptcy case involving the property's current owner.
Maitland-based Pine Properties & Development has entered into an agreement to acquire the property affiliated with Lake Diamond Associates LLC, which filed for Chapter 11 reorganization last year.
The sale faces several legal hurdles before it can be approved, including a separate motion calling for the property to be auctioned. A court hearing on that motion is scheduled for Feb. 24 in Jacksonville.