LEWISBURG – The Greenbrier Resort will remain in the hands of Gov. Jim Justice’s family.
The Justice family issued a press release October 15 announcing it had “completely satisfied” its obligations to Beltway Capital. That means the scheduled auction set for October 25 has been cancelled.
“This significant achievement comes as part of the family's ongoing commitment to ensure the long-term stability and prosperity of their holdings, including The Greenbrier Resort, America's Premier Resort,” the family statement said. “The Justices made all required payments well in advance of their due dates under the settlement agreement. This proactive approach has not only strengthened the Justice family's financial position, but also reaffirmed their dedication to the future of The Greenbrier Resort and Glade Springs Resort.”
The Justice family said it now can focus on enhancing the guest experience and operational excellence at the resort.
“Having completed this process, the Justices will be in a position to provide extended stability for The Greenbrier’s operations, enabling continued investment in the resort's facilities and services,” the family said in its release. “The Justice family remains committed to upholding the legacy of The Greenbrier as a premier destination for guests from around the world.”
The governor’s children – Dr. Jill Justice and Jay Justice – also commented on the news.
“We are excited to have successfully paid in full our obligations to Beltway Capital and look forward to the future of The Greenbrier and Glade Springs,” they said. “This will allow us to invest further in our operations and enhance the experiences we provide to our guests.
“We appreciate the continued support from our partners, the patience of our valued team members, for whom we know this was a stressful period, and we look forward to welcoming visitors for many years to come.”
The auction had been scheduled for 11 days before the general 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 60.5 acres of property included 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 Capital.
In his latest campaign financial disclosure, Justice listed 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.