28 Acres Near Universal Orlando Going on Block

ORLANDO-A prime 28-acre property across the street from Universal Orlando’s 2,500-acre complex in southwest Orlando will be on the market shortly after owners Can Partners Orlando LLC of Los Angeles file a foreclosure suit this week to either sell or retake the 29-year-old, 800-room shuttered Delta Orlando Resort.

The hotel owners owe Can Partners $26.9 million. The hotel at 5715 W. Major Blvd., one-quarter of a mile from tourist-themed International Drive and 15 minutes from Walt Disney World, has been closed since December. U.S. Bankruptcy Court Judge Karen S. Jennemann paved the way last week for the foreclosure suit by refusing to allow the hotel owners to file for Chapter 11 protection from creditors under the U.S. Bankruptcy Code.

The judge ruled Winter Park, FL-based Universal Partners LLC had no employees; a skeleton maintenance staff; $1,000 in its bank account; and a $220,000 annual business insurance premium payment coming due Feb. 6, all insufficient factors for a realistic reorganization.