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Terry, Linda Bollea at odds over condo deal

The Bolleas, from left, Linda, Brooke, Terry and Nick, in happier times at their Belleair home during 2005.

DIRK SHADD | Times

The Bolleas, from left, Linda, Brooke, Terry and Nick, in happier times at their Belleair home during 2005.

CLEARWATER — The latest point of contention in the celebrity divorce of Terry and Linda Bollea concerns the couple's onetime plan to buy a $4.2-million condominium in Las Vegas.

In 2005, the couple paid a $840,000 deposit on the condo at Palms Place, a 47-story tower connected to the Palms Casino. But they did not close on the purchase, as scheduled, this spring.

Pinellas-Pasco Circuit Judge George Greer signed an order in April requiring Terry Bollea, who wrestled professionally as Hulk Hogan, to close on the property.

But Terry Bollea's attorney said in a hearing Tuesday that her client went along with the decision because he hadn't received his own appraisal of the property. Now he thinks it would be a terrible investment.

"They don't have the kind of wealth that you would think," said Ann Kerr, Terry Bollea's attorney. She did not say, however, what kind of wealth the couple does have.

Linda Bollea, on the other hand, sees the condo as a good buy, her attorneys say, and she wants to go ahead with the purchase despite the soft condo market. Because of the couple's celebrity status, the couple's properties tend to sell at a premium, said A.J. Barranco Jr., a Miami attorney who represents Linda Bollea.

Greer said he would decide within several days whether to order Terry Bollea again to participate in the condo's closing.

Both Bolleas attended the hearing, he in a black suit, but without his trademark bandana, she in a pale blue top and black pants. Neither spoke during the hearing or to each other.

Linda Bollea filed for divorce in November, seeking half of the couple's assets, which include the Las Vegas condominium, as well as a nearly 17,000-square-foot mansion on Willadel Drive in Belleair and a 3,474-square-foot home on Eldorado Avenue on Clearwater Beach.

Pinellas property appraisers have estimated that the Belleair mansion would sell for $7.247-million and the Eldorado Avenue house would sell for $2.238-million.

The Web site for Palms Place, the Las Vegas condominium, said the tower's 599 units range from 600 to 7,000 square feet and go for $500,000 to $7-million.

Terry, Linda Bollea at odds over condo deal 07/08/08 [Last modified: Thursday, July 10, 2008 9:28pm]
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