Selling the timeshare resort to benefit owners is another example of Lemonjuice delivering the best outcome for owners and the community. It also verifies the value proposition for the timeshare industry as a whole.
ORLANDO, Fla. (PRWEB)
April 12, 2022
Lemonjuice Capital and Solutions has announced the sale of the Palm Beach Resort & Beach Club (PBR) timeshare complex in Palm Beach, Florida for $9.75 million. Timeshare owners will receive an average of over $6,400 per timeshare interest.
The Palm Beach Resort & Beach Club has operated on a timeshare basis for the past 40 years. When the board retained the Lemonjuice team in 2015, a third of their intervals were underperforming. The station had an operating deficit of $200,000. Lemonjuice Capital and Solutions invested to renovate the property. In 2020, the station had an operating surplus of $85,000. Reserves went from zero to $290,000.
In early 2021, the owners voted to end the timeshare plan. The board has asked Lemonjuice to oversee the settlement process.
Court order required
The station documents required a court order to sell the entire property. The attorneys originally filed a lawsuit in Florida Circuit Court (Case No. 502020CA011561XXXXMB).
Lemonjuice arranged for attorneys from his past cases to provide additional advice. As a result of these additional guidelines, the case was remanded to the US Bankruptcy Court (Case No. 21-15555-BKC-EPK). PBR was financially sound, but the bankruptcy court is more experienced and efficient than most state courts in the settlement process. Lemonjuice painstakingly researched 1,508 individual timeshare titles and then obtained title insurance for the entire property. Without title insurance, the sale could not take place. Finally, he marketed the resort and got the best possible value for timeshare owners.
Alexander Krakovsky, CEO of Lemonjuice, said, “The sale of the timeshare resort to benefit owners is another example of Lemonjuice delivering the best outcome for owners and the community. It also verifies the value proposition for the timeshare industry as a whole.
About lemon juice:
Lemonjuice Capital and Solutions provides professional management and investment capital to vacation timeshare properties.
Lemonjuice is a solutions-oriented company, not just a paid service manager. It aligns its interests with those of all stakeholders by investing its own capital and resources. The company’s Resorts Reimagined™ program deploys extensive expertise and capital to revitalize older timeshare resorts and create value for their owners.
To learn more about Resorts Reimagined™ and all Lemonjuice Capital and Solutions services, contact Jan Barrow at 863-602-8804 or email [email protected]
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