The news that the owners of Deerhurst resort have put the property for sale released came as a shock to the entire real estate community.
Online PR News – 15-July-2010 – – Owners of Deerhurst Resort Cornerstone Real Estate Advisers LLC and MassMutual Financial Group declared today morning that they wish to put the property for sale. The 400 room resort is located in Huntsville and was host to world leaders at the G8 Summit. The owners feel that this is the right time to put property for sale as its popularity will result in higher price bids.
Real Estate Advisers LLC and MassMutual Financial Group had purchased the property in 1990’s and have since then invested $60 million on its infrastructure. Today when the lavish real estate property is for sale it has two 18 hole golf courses, seven restaurants, conference facilities, salon, a spa and 3,000-foot airstrip.
The owners have still not disclosed the price at which Deerhurst Resort is put for sale. They are waiting to receive quotes from companies interested in buying it. Anyone interested in buying the real estate property can call the resort and enquire. There are chances that they would give prospective buyers indications about what they expect.
The reason for putting the property for sale as per the owners is not financial crisis but the improvement in the global financial situations. They have been waiting for the perfect time to sell the real estate property. However they were disappointed when recession hit most parts of the world which made it difficult for them to realize an appropriate value for the property. As the economy seems to grow in recent times they feel this is the right time to sell.
Tough the price remains undisclosed industry giants are trying to judge its price and many opine that it is difficult to judge the price of the 114 years old resort as the industry has not seen many big sales this year. Putting a property for sale is of course not a very easy job. It requires lot of consideration and careful thinking. Deerhurst Resort is one of the biggest properties put for sale and has the potential to fetch good price.