Billionaire Picks Up Frederica Development
Filed under: Real Estate Developments
The troubled Frederica Club has a new owner, billionaire businessman and former Miami Dolphins majority owner Wayne Huizenga. Wells Fargo & Co., foreclosed on the 2,500-acre golf resort last November. The price he paid was not disclosed. Earlier this year, Huizenga was said to be among the bidders for the entire assets of the Sea Island Co. before the developer of the iconic Georgia coastal resort went into bankruptcy. According to the article in the Atlanta Journal Constitution, Huizenga formerly owned the Boca Raton Resort and Club, the Arizona Biltmore, and the Floridian Golf Club and Marina. He currently owns the Diamond Creek Golf Club in Banner Elk, N.C.The Frederica Club on St. Simons Island has an equestrian center, a freshwater lake of more than 300 acres and one of the top golf courses in the world. Homesites available in the development start at just under $1 million.
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