LEWISBURG – The Greenbrier is scheduled for the auction block again.
According to a legal advertisement published in Lewisburg’s West Virginia Daily News, the resort owned by Gov. Jim Justice’s family, will be up for sale October 25 at the front door of the Greenbrier County Courthouse.
That’s just 11 days before the election in which Justice, a Republican, is the frontrunner for the U.S. Senate seat currently held by Sen. Joe Manchin (I-W.Va.).
The legal notice says the highest bidder must pay cash in hand on the day of the sale.
The 60.5 acres of property being foreclosed on does not include the entire Greenbrier complex. Basically, it includes the world-famous hotel and the parking. The rest of the property – including the golf courses, tennis and medical facilities – are owned by other Justice entities.
The property previously was scheduled to be auctioned this summer because of default on the terms of a loan through JPMorgan Chase. But a few weeks before the auction, the bank sold the deed of trust to McCormick 101, a credit collection company linked to Beltway Capitol.
The Greenbrier then said it reached an agreement to halt the sale.
“Beltway Capital will receive a specific amount to be paid in full by October 24, 2024, which Justice has already secured this funding,” the company said at the time. “Beltway reserves its rights if the Justice family fails to perform. Upon full performance, all issues concerning The Greenbrier and Glade Springs are concluded.”
An attorney representing the Greenbrier says the company will make its final payment before October 24, thus canceling the planned auction.
“As The Greenbrier previously announced, its agreement with Beltway Capital provides for a final payment to be made by October 24, 2024,” Steve Ruby said in a statement to The West Virginia Record. “The Greenbrier remains on track to make that payment.
“Today’s advertisement is merely a procedural matter. It in no way reflects any change in the parties’ relationship or The Greenbrier’s plans regarding payment,” Ruby stated on behalf of The Greenbrier Hotel Corporation.
In his latest campaign financial disclosure, Justice lists personal debt of $25 million to $50 million to McCormick 101. Beltway Capital is the loan servicer for McCormick 101, and they share an address. Beltway has asked for what remains to be paid on the loan, which is says is $24 million in principal and $16 million in interest.
In other Justice financial news, thousands of acres of property owned by the family in Greenbrier and Monroe counties are for sale.
Bellwood Corporation, another of Justice’s companies, is selling the land in a November 7 auction in Lewisburg. The 3,377 acres is spread over 21 tracts of land. Most of the land is in Monroe County. Wolz & Associates is handling the sale.
Justice, a two-term governor, is running for the U.S. Senate. Democrat Glenn Elliott, who is the mayor of Wheeling, and Libertarian David Moran, a retired engineer who operates a Preston County sheep and alpaca farm, are the other candidates on the November 5 ballot.