Make us your home page

$8 million buys Belleview Biltmore, assets

BELLEAIR — The new owner of the Belleview Biltmore said his group paid a little more than $8 million to buy the hotel and its assets.

The hotel's assets include the historic Biltmore, its 136-acre golf club on Indian Rocks Road and the Cabana Club on Sand Key.

Raphael Ades, a Miami investor, said he plans to work full time after the new year to deal with the hotel's roof problems and improve the golf club.

A lien was filed by the town of Belleair last year after the owner was fined for the hotel's dilapidated roof.

"We bought the properties with this problem," Ades said. "We think we can solve the problem with the right time and dedication."

At Tuesday night's town meeting, Roger Schwenke, an attorney representing Ades and his partners, said his clients wanted to meet one on one with individual commissioners to discuss the lien.

Schwenke had previously asked town leaders to consider lifting the lien if his client put aside $200,000 in an escrow account for roof repairs. Tuesday, he said his clients may modify their request.

He said the matter didn't need to be rushed because his clients had closed on the property.

Mayor Gary Katica said he looked forward to meeting with them and moving things along.

"It's been too long of a time that there have been cyclone fences around properties that are very valuable in the area," Katica said.

The owner got control of the property by buying the mortgage, which was originally $26.8 million, records show.

On Wednesday, special warranty deeds in lieu of foreclosure were recorded for the hotel and golf club. The deeds are between the new owners, BB Golf LLC and BB Hotel LLC, and Belleview Biltmore Owner LLC, a company created by the former owner, Latitude Management Real Estate Investors.

A leasehold estate assignment agreement in lieu of foreclosure also was filed for the Cabana Club property on Sand Key. The Biltmore has a 100-year lease on the Cabana Club property that extends through 2182 and is automatically renewable for another 100 years.

Rae Claire Johnson, a resident who has fought for the restoration of the hotel, said she has spoken with the new owners and trusts their intentions.

"I think they're very ethical people who want to do the right thing by the property and the people of Belleair," Johnson said. "So far I've been impressed by the way they've handled things.

Lorri Helfand can be reached at [email protected] or (727) 445-4155.

$8 million buys Belleview Biltmore, assets 12/22/10 [Last modified: Wednesday, December 22, 2010 7:58pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Carrollwood fitness center employs scientific protocol to help clients


    In 2005, Al Roach and Virginia Phillips, husband and wife, opened 20 Minutes to Fitness in Lakewood Ranch, and last month they opened the doors to their new location in Carrollwood.

    Preston Fisher, a personal fitness coach at 20 Minutes To Fitness, stands with an iPad while general manager/owner Angela Begin conducts an equipment demonstration. The iPad is used to track each client's information and progress. I also included one shot of just the equipment. The center recently opened in Carrollwood. Photo by Danielle Hauser.
  2. Olive Tree branches out to Wesley Chapel


    WESLEY CHAPEL — When it came time to open a second location of The Olive Tree, owners John and Donna Woelfel, decided that Wesley Chapel was the perfect place.

    The Olive Tree expands its offerings of "ultra premium?€ extra virgin olive oils (EVOO) to a second location in Wesley Chapel. Photo by Danielle Hauser.
  3. Massachusetts firm buys Tampa's Element apartment tower

    Real Estate

    TAMPA — Downtown Tampa's Element apartment tower sold this week to a Massachusetts-based real estate investment company that plans to upgrade the skyscraper's amenities and operate it long-term as a rental community.

    The Element apartment high-rise at 808 N Franklin St. in downtown Tampa has been sold to a Northland Investment Corp., a Massachusetts-based real estate investment company. JIM DAMASKE  |  Times
  4. New York town approves Legoland proposal


    GOSHEN, N.Y. — New York is one step closer to a Lego dreamland. Goshen, a small town about fifty miles northwest of the Big Apple, has approved the site plan for a $500 million Legoland amusement park.

    A small New York town, Goshen approved the site plan for a $500 million Legoland amusement park. Legoland Florida is in Winter Haven. [Times file  photo]
  5. Jordan Park to get $20 million makeover and new senior housing

    Real Estate


    Times Staff Writer

    ST. PETERSBURG —The St. Petersburg Housing Authority, which bought back the troubled Jordan Park public housing complex this year, plans to spend about $20 million to improve the 237-unit property and construct a new three-story building for …

    Jordan Park, the historic public housing complex, is back in the hands of the St. Petersburg Housing Authority. The agency is working to improve the 237-unit complex. But the latest plan to build a new three-story building for seniors will mean 31 families have to find new homes. [LARA CERRI   |   Tampa Bay Times]