GlobeSt.com UPDATE: Blue Tree Resort Gets $10 Mil Offer

ORLANDO-REH Capital Partners LLC, a newly-formed Fort Lauderdale, FL-based investment and consulting firm, is offering to buy a financially ailing timeshare resort in Orlando for $10 million, but declines to identify the property until the deal is done.

GlobeSt.com, however, has learned from hospitality industry sources the asset being sought is the 400-unit, 10-year-old Blue Tree Resort near Walt Disney World, owned by Tokyo-based Aoki Corp. The global construction company is currently restructuring and shedding all hospitality assets, as GlobeSt.com reported Jan. 2.

REH “recently submitted a $10 million bid to a Japanese bankruptcy trustee to purchase a troubled, mixed-use resort and timeshare project in Orlando,” REH chairman/CEO Frank Nardozza says in a prepared statement.