Orlando-based developer buying properties at The Colony

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Posted: Tuesday, July 15, 2014 9:45 am

LONGBOAT KEY, Fla. -- The Colony Beach and Tennis Resort could be one step closer to having a new owner.

The Longboat Key News reports developer Unicorp has acquired critical assets of the property at auction.

The Orlando-based Unicorp placed a high-bid of around $15.2 million dollars, and also bought several pieces of collateral.

Unicorp plans to take steps to acquire the assets remaining under another bankruptcy hearing.

The company intends to redevelop the property left dormant since 2010.

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