Area leisure industry brokers tell GlobeSt.com on condition of anonymity Finova will probably be the lone bidder at the $24.3 million public foreclosure sale at the St. Johns County Courthouse in St. Augustine. Orlando-based Vistana WGV Ltd., owned by Starwood Vacation Ownership Inc., owes the debt.
Finova sued Vistana WGV Ltd. May 2 in St. Johns Circuit Court and won a foreclosure judgment June 7.
Starwood discontinued timeshare sales at the four-year-old property in August 2001 after disappointing customer traffic. The company was banking on a projected visitor count of one million per year at World Golf Village to generate timeshare unit sales. That number never materialized.
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