Heber Springs Man Allegedly Claims Legendary Gold

by George Waldon  on Monday, Jun. 6, 2011 12:00 am  

Joe Blankenship: "Let's do this deal and get everyone whole."

In February, Delta Trust & Bank of Little Rock sold Blankenship's 40 percent stake in the 185-acre spread 6 miles south of Lonoke near Bayou Meto for $285,000. The bank recovered his share in Red Sky in February 2009 after Blankenship defaulted on a $269,500 mortgage claim.


Snug Harbor Marina and Condominiums

Metropolitan National Bank recovered the 4.6-acre property along U.S. 98B in Panama City, Fla., in April 2010. The bank holds a $5.2 million deficiency judgment. The Snug Harbor site has 705 feet of waterfront on Watson Bayou, a deep-water inlet with access to St. Andrews Bay and the Gulf of Mexico beyond.

Never fulfilled plans called for 393 luxury condos, 140 boat slips and a dry dock storage building with 120 spaces.

Blankenship's WBBC LLC bought the property for $7 million in July 2005. Metropolitan loaned the limited liability company $7 million in August 2006.



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