ATLANTA, GA (July 12, 2012) – Bull Realty has brokered the $1.575 million sale of Seaside Ave Bed and Breakfast, a nine-bedroom, nine-bathroom facility inside Seaside, a prestigious master planned community on Florida’s Gulf Coast. Rob Whitmire (top right photo), Partner and Senior Vice President of Special Asset Services for Bull Realty, and Cindy Cole (lower left photo) of Destin, Fla.-based Cindy Cole Fine Homes represented the seller, a super regional bank.
The purchaser, 38 Seaside LLC, is a group of investors headquartered in Texas. The purchaser is considering several options, including plans to convert the property into a single-family home at the end of the summer. The renovation is expected to cost more than $300,000. “The client is extremely pleased by this transaction,” Whitmire said. “Since the bed and breakfast’s revenues had declined in recent years, the seller was ready to move on and the purchaser has the resources and capital available to improve the asset. This transaction is another example of Bull Realty’s expertise and skill in moving a distressed asset.”
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