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Grenelefe Buyer's Contract Falls Through

ORLANDO-Princeton, NJ investor Peter A. Marks offered $15.25 million for the 42-year-old, 750-room, 1,000-acre property in Haines City, FL, 30 minutes from Walt Disney World. But Marks missed a May 17 deadline and another one May 20 to make a total $750,000 deposit on his bid. The public auction is set for 10 a.m., June 18 in Tampa.

By Alex Finkelstein | Updated on May 21, 2002

ORLANDO-The 42-year-old, 750-room, 1,000-acre Grenelefe Golf and Tennis Resort expects to have its fourth owner shortly if a U.S. Bankruptcy Court auction goes off as scheduled June 18 in Tampa, FL.

Princeton, NJ investor Peter A. Marks was the lead bidder. He initially offered $15.25 million for the three-golf course property in Haines City, FL, northeast Polk County, 30 minutes from Walt Disney World and 50 miles south of Downtown Orlando.

But Marks missed a May 17 deadline and another one May 20 to make a total $750,000 deposit on his bid. He deposited $250,000 May 8 and was scheduled to put down another $500,000 last Friday. Marks couldn’t be reached at GlobeSt.com’s publication deadline.

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