Siegel selling $350M in assets

(Orlando Business Journal)  The Carlton Group Ltd. has been retained by timeshare mogul David Siegel, president and CEO of Westgate Resorts, to handle bids for 59 asset properties valued at more than $350 million, including a number of properties in Central Florida.

Some of the Orlando-area properties being offered via the Carlton Exchange real estate platform include:
• The Reserve at Westgate Lakes, a 57-acre, 1,729 timeshares and 10,000-square-foot retail space planned development site on Big Sand Lake that is less than 2 miles from both SeaWorld and Universal Studios.
• The Grenelefe Resort, a golf and tennis resort community with two championship 18-hole golf courses, 593 rental condominiums and development rights for 1,800 additional units — located near Cypress Gardens.
• The International Drive Commerce Center, a 41-acre development site adjacent to the International Drive tourist corridor that is approved for up to 500 tourist hotel units, 415 timeshare condos and 600,000 square feet of tourist retail space.
• Sutton Lakes, a 140-acre site near Walt Disney World. The site is approved for 800 timeshare units.

Details about the properties can be found at www.carltonexchange.com.

Westgate was Central Florida’s largest privately held business in 2009, with revenue of $1.2 billion.

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