CHERRY HILL, NJ-The Union League of Philadelphia has expressed interest in acquiring the bankrupt Woodcrest Country Club here.
Edmond George, an attorney for The Union League of Philadelphia, says the league, if successful in acquiring the property, would continue to operate it as a golf course, according to The Inquirer.
A Marlton-based real estate group has entered into an agreement with a bankruptcy trustee to acquire the Woodcrest club for $6.25 million, which will serve as the minimum bid. A May 16th deadline has been set for bids on the club.
U.S. Bankruptcy Judge Judith H. Wizmur issued a ruling on Monday that interested buyers will have to bid at least $100,000 above the offer made by Cherry Hill Land Associates L.L.C., a subsidiary of First Montgomery Group. See story in The Inquirer.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.