Time-share mogul Siegel’s assets open to the public
June 7, 2010
Sara K. Clarke, Orlando Sentinel
The auction house that’s hawking $350 million worth of property owned by time-share mogul David Siegel is opening the properties for public inspection.
Carlton Exchange says it has organized open houses for the top assets in the portfolio, including several in Central Florida. Siegel has said the assets are extraneous to his core business of time-share development and management.
“We’ve already received offers,” said Scott Stay, a Carlton senior vice president. “We’re starting to see that the market is turning, buyers are out.”
A 500-room Ramada hotel in Kissimmee is drawing the most attention, mainly because of its location near Walt Disney World, Stay said. The 9 a.m.-to-noon open houses include:
•Grenelefe Resort, a golf-and-tennis resort in Polk County, Thursday and April 29.
•Westgate River Ranch, a 1,700-acre dude ranch near the Kissimmee River in Polk County, Friday and April 30.
•The Ramada, April 27.
In addition to the hospitality assets, Siegel is selling multifamily properties, vacant land and office space. Indicative bids are due April 30. More information is available online at cartlonexchange.com.
