Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ST. SIMONS ISLAND, GA-Sea Island Co. is selling off its assets to Los Angeles-based Oaktree Capital Management LP and New York City-based Avenue Capital Group, who have agreed to pay an amount of $197.5 million.

Sea Island has been suffering from financial problems since being unable to repay the debt taken for the renovation and expansion of the resort in 2006 and 2007. This deal will cause creditors to let go of $340 million in loans held by the resort. For the full story, go to the Wall Street Journal.

GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.