Florida marina fails to sell at auction

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Gulf Coast Community Bank has taken over the Pensacola Beach Marina after the Florida Panhandle property was not sold Tuesday in an auction.

The highest bid, $1.2 million, fell short of the $2.8 million owed on the property.

Click here for the full report.

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Comments

4 comments on “Florida marina fails to sell at auction

  1. deep sea fisher

    Does anyone know anything about this property?  What kind of condition is it in?  Is it in useable condition?  Why was the bid so low?

  2. boatman11

    Deep Sea Fisher,
    Why was the bid so low? The marina was purchased in 2007. They paid too much for it then. The bank wants too much for it now. The marina is not making money. Thats why the bid was so low.

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