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BREAKING NEWS UPDATE: Grand Palace For Sale Again

By: Monte Schisler, News Director
Posted: Friday, July 29, 2011

HometownDailyNews.com has learned Branson’s largest theatre is for sale again. A spokesperson for the FDIC, the trustee for the financially troubled Grand Palace theatre, said in an email this morning (Friday) that the high bidder at last month’s foreclosure auction on the courthouse steps wasn’t able to come up with the cash needed.

The Branson realtor representing Nashville-based Kingdom Wealth Builders declined comment, saying his client was still trying to put the money together for its original 5-point-4 million dollar bid.

The FDIC says it’s now working with a real estate broker in Los Angeles in hopes of trying to sell the theatre outright. In an exclusive interview with HometownDailyNews.com, Dan Feldman with Colliers International, said that Kingdom Wealth Builders can eventually make an offer if the company still wants to buy the theatre...

Dan Feldman Y710   (:16)     ….eligible buyer.

Feldman says a listing price for the Grand Palace hasn’t been determined. He said a local real estate company will be hired to handle the transaction. Feldman wasn’t sure how long it would take to sell the theatre.

=====(2nd Version)=====

Branson’s largest theatre is for sale, again. Nashville-based Kingdom Wealth Builders bid 5-point-4 million dollars for the Grand Palace last month during a foreclosure auction on the steps of the Taney County Courthouse. But HometownDailyNews.com has learned the company hasn’t come up with the cash required for the sale. In an email from the FDIC, the trustee for the financially troubled theatre, a spokesman said the government agency is in control of the asset, and is in the pre-marketing stage.

The FDIC has retained a Los Angeles real estate broker to help with the current sale.

In an exclusive interview with HometownDailyNews.com, Dan Feldman with Colliers International, was asked if selling the Grand Palace outright is easier than trying another foreclosure auction at the courthouse...

Dan Feldman Y711    (:20)   ….on the market.

Kingdom Wealth Builders has declined several requests for an interview, but the company’s Branson based realtor said the group is still interested in buying the Grand Palace, and is meeting early next week in Texas to try and secure the cash needed to make a contract offer.

=====(3rd version)=====

The Grand Palace on Highway 76 in Branson is for sale. This time plans call for the troubled theatre to be sold through a regular real estate transaction, rather than a foreclosure auction.

Nashville-based Kingdom Wealth Builders bid 5-point-4 million dollars last month on the steps of the Taney County Courthouse. HometownDailyNews.com has learned the company didn’t come up with the cash needed to close the sale, so the FDIC is still in control of the theatre and surrounding property.

Dan Feldman with Colliers International out of Los Angelesis the real estate broker retained by the foreclosure trustee to oversee the sale. In an exclusive interview with HometownDailyNews.com he said a list price hasn’t been established...

Dan Feldman Y712   (:31)   ….take it to market.

The Grand Palace was originally listed by another local real estate company for 10-million dollars before foreclosure proceedings started earlier this year. Feldman wasn’t sure how long it would take to sell the theatre now.

=====(4th Version)=====

The Grand Palace on Highway 76 in Branson is for sale. This time plans call for the troubled theatre to be sold through a regular real estate transaction, rather than a foreclosure auction.

Nashville based Kingdom Wealth Builders bid 5-point-4 million dollars last month on the steps of the Taney County Courthouse. HometownDailyNews.com has learned the company didn’t come up with the cash needed to close the sale, so the FDIC is still in control of the theatre and surrounding property, and has retained a Los Angeles-based real estate broker to help.

Kingdom Wealth Builders has declined comment.


Wait a minute.... - 07/29/2011 11:55:37 AM
I don't know how the FDIC would say the announcement of the sale was premature, when it sold at a foreclosure. A foreclosure they authorized. There was one bid submitted by other than the FDIC for 5.4 million dollars. It was declared sold and the money was due no later than 5pm the day of sale. Now if the FDIC isn't sure what happened, just who is? Does the left hand of the FDIC know what the right hand is doing? Dave R
McAwfull - 07/29/2011 8:18:12 PM
Maybe "Nelly" can come back to Branson and save the place.
nobody cares anymore - 07/30/2011 6:55:09 PM
who cares anymore the general public has been told so many lies about that place that hardly anyone cares anymore
pmd - 07/31/2011 4:00:04 PM
This info is so incorrect its to the point of amusing-Why report this when you were told the deal was still intact.Obviously the crowd against the Palace surfaces again...Its not hard to figure out which theatre is behind this mud...
xoxoxo - 08/02/2011 7:16:19 AM
Hey Mcawful,To my knowledge the Nelly concert has been the only sell-out in Branson in years,its people like you why numbers are down and Branson becoming a show city of the past,You and all your negative posse step up and do sumthing homess...