Cal-Bay International in Negotiations for Sale of Aspen Cove Resort, Utah, Properties Tuesday January 23, 12:23 pm ET
CARLSBAD, Calif.--(BUSINESS WIRE)--Cal-Bay International (OTCBB:CBAY - News) announces that it is negotiations for the sale of its Aspen Cove Resort properties, on Panguich Lake, Utah. The Aspen Cove properties consist of an operational lakefront lodge and a 33-acre hilltop parcel that has been mapped for 21 luxury vacation homes. ADVERTISEMENT
The offer for purchase is approximately $5M, and the transaction is contemplated to close upon satisfactory final due diligence by the buyer.
At the request of the tentative buyer, the terms of the negotiations are to remain confidential until the close.
Cal-Bay originally purchased the Aspen Cove properties in early 2005, for a price of $2.6 million.tteil:
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