Billionaire buys Frederica golf resort

By: AP
By: AP

Thursday October 7, 2010

ST. SIMONS ISLAND, Ga. (AP) -- Billionaire entrpreneur Wayne
Huizenga is the new owner of coastal Georgia's Frederica Club, a
2,500-acre golf resort built by the Sea Island Co.

Wells Fargo & Co. announced the sale to the former Miami
Dolphins majority owner Thursday, nearly a year after it foreclosed
on the property on St. Simons Island.

The sale price for the Frederica Club was not disclosed.

Huizenga also owns the Diamond Creek Golf Club in North
Carolina. He formerly owned the Boca Raton Resort and Club, the
Arizona Biltmore and the Floridian Golf Club and Marina.

The Frederica Club foreclosure happened before Sea Island filed
for bankruptcy protection in August. The company's remaining assets
are scheduled to be sold at auction Monday in Atlanta.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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