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Crescent Resources LLC Repositions Ownership of Grand Haven Golf Club

Crescent Resources is beginning shift assets to meet their post-bankruptcy plan.

By Toby Tobin
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Palm Coast, FL – June 21, 2010 – After emerging from Chapter 11 bankruptcy, Crescent Resources LLC has begun repositioning its assets to fit its restructured business plan. A deed signed June 9, 2010 and filed in Flagler County, FL on June, 14, 2010 documents the transfer of ownership of the Grand Haven Golf Club from Crescent Resources, LLC to Grand Haven Golf Club LLC.
Two of Crescent's Florida golf communities were recently sold; Southern Hills and River Hall. It's widely believed that Crescent will be selling off many of its Florida and Georgia holdings.
reader comments
Reply to Lonnie
Posted by Toby
Nov 16, 2013, 3:23 pm
That's true. On May 18th I wrote:

"Membership Agreement and Golf Club Membership Deposit Refund Programs" will remain intact at both the Grand Haven Golf Club and The Grand Club.
Reply to Golf1
Posted by Toby
Nov 16, 2013, 3:23 pm
The buyer is documented as Grand Haven Golf Club LLC, a Delaware Corporation. You can go to the Delaware Dept of State website, but you have to pay for any information beyond whether of not a corporation is 'Active.'

There is no information about The Grand Club selling, however there was a sale of a single Palm Coast lot from Landmar to The Grand Club.
Grand Haven
Posted by Golf I
Jun 22, 2010, 10:45 am
So who really owns GH now? Crescent/LandMar or ????
Did the Grand Club also get spun off?
See ya! Down the middle - Golf I
conversation with lawyer
Posted by Lonnie Ritzer
Jun 22, 2010, 7:13 am
According to my conversation with the lawyers for Crescent, the membership contracts with the golf club are not affected by the plan or organization. I spoke with them after receiving the order of confirmation.

 
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Don "Toby" Tobin is a licensed real estate professional affiliated with Grand Living Realty. Toby is a member of the Flagler County Association of Realtors®, the Florida Association of Realtors, Enterprise Flagler, Flagler Home Builders Association, and the National Association of Realtors.

GoToby.com proivdes real estate news, commentary, and analysis for Palm Coast and Flagler Country Florida, as well as Realtor® referrals and consultation to buyers, sellers, and developers.