Great Southern Golf Club has new owner, but future remains uncertain
GULFPORT, Miss. (WLOX) - The Great Southern Golf Club in Gulfport is now under new ownership, but the future of the oldest golf course in Mississippi is still uncertain.
Because the golf club could not reach a deal with two different developers interested in the 129-acre property, a public auction was held Friday afternoon at the Gulfport courthouse. In a disappointing move for stockholders, mortgage holder Great Southern Investments LLC foreclosed on the property.
Lenny Sawyer, managing partner of Great Southern Investments LLC, submitted a bid of just over $4.7 million - the amount of the mortgage owed.
“We didn’t have any other bidders, so now we’ve got to go make plans because we didn’t know we were going to wind back up with it,” Sawyer explained. “We were hoping somebody would outbid us and own the property and do something with it.”
The LLC will begin discussions next week on future plans for the property, which could include a sale or development.
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