BET Co-founder To Buy Westin Innisbrook Resort For $35-Million

PALM HARBOR -- Three companies controlled by Sheila C. Johnson, the co-founder of the Black Entertainment Television Network, have agreed to pay $35-million for the Westin Innisbrook Resort.

As part of the agreement, Johnson's companies -- Salamander Innisbrook Securities LLC, Salamander Innisbrook Condominium LLC and Salamander Innisbrook LLC -- has made a $3-million non-refundable deposit. The sale is expected to close July 16.

The resort's current owner is Golf Trust of America, a publicly traded real estate investment trust based in Charleston, S.C. Golf Trust of America has been working to liquidate its portfolio of golf courses around the country. Its president declined to comment further Tuesday.

"We are subject to a confidentiality agreement with the potential buyer and we will adhere to that," Golf Trust president and CEO W. Bradley Blair II said.

Johnson owns interests in the NBA's Washington Wizards and the NHL's Washington Capitals, and she is president and managing partner of the WNBA's Washington Mystics. Her new lodging company, Salamander Hospitality owns the Woodlands Resort & Inn in Summerville, S.C., the 340-acre Salamander Resort & Spa being developed in Middleburg, Va., and Salamander Management Services, which provides development and management expertise for independent hotels and resorts throughout the country.

Salamander Hospitality president Prem Devadas said that Johnson is in London and the company planned not to discuss the purchase further until the closing.

"We signed the purchase asset agreement, made a non-refundable deposit and fully intend to buy it," Devadas said.

And Bob Johnson is one of the largest minority franchisees for Marriott.

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Salamander Hospitality owns the Woodlands Resort & Inn in Summerville, S.C.,

I didn't even know this place was there. I'll have to check it out during Labor Day weekend when I go see my peeps in SC.