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Sterling Sells to Encore Enterprises

DESTIN, FL-The Dallas-based firm will handle hospitality and management at various resort properties.

By Carl Cronan | Updated on September 11, 2008

(Carl Cronan is editor of Real EstateFlorida.)

DESTIN, FL-Encore Enterprises has acquired two units of the locally based Sterling Cos. through a stock purchase agreement. Sterling Resorts LLC and Sterling Realty LLC will become part of the Encore Hospitality subsidiary as a result of the deal, for which the value was not disclosed.

Bharat Sangani, chairman and founder of Dallas-based Encore, says his company already manages 900 luxury condominium units in three different beachside resorts in Destin, located in the far west end of the Florida Panhandle. The Sterling acquisition will allow it to grow its hospitality segment across the country, he says.

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