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Bluegreen Corporation Acquires Marathon Resort and Marina |
| Property to be renamed "The Hammocks at Marathon" |
Bluegreen Corporation (NYSE: BXG) today announced that it has purchased the Marathon Resort and Marina located in the Florida Keys. Terms of the acquisition were not disclosed.
Marathon Resort and Marina, located at 1688 Overseas Highway, is a three-floor, 79-room beachfront resort in the quaint family-oriented community of Marathon, FL, within easy reach of Miami and Key West. Bluegreen expects to commence renovations immediately to transform this property into 58 one- and two-bedroom vacation residences offering such amenities as a pool, boat slips, outside tiki bar and a variety of water sport recreational vehicle rentals.
The renovated property will be renamed The Hammocks at Marathon, a Bluegreen Vacation Club(R) Resort. Sales through the Bluegreen Vacation Club are expected to commence in the first quarter of 2004.
Bluegreen Corporation (NYSE:BXG) is one of the leading companies engaged in the acquisition, development, marketing and sale of vacation ownership resorts and residential communities. For more information contact Bluegreen Corporation at www.bluegreenonline.com
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