US: Lender puts Bellisimo Vineyard into receivership
US: Lender puts Bellisimo Vineyard into receivership
Oct 31, 2011 6
(NBBJ) - The 153-acre Bellisimo Vineyard estate Sonoma County’s Knights Valley attracted attention in early 2008 when a publicly traded Chinese agriculture company purchased it for $14.75 million more than three years ago, but it passed quietly into receivership as this harvest was about to begin.
China Organic Agriculture, Inc., based in northeast China, acquired the luxurious estate and 75 acres of vines at 8322 Franz Valley Road in February 2008, announced plans to import wine to that continent and took a majority stake in a wine marketing company in China. But on Sept. 14 of this year, an affiliate of Iowa-based insurer Transamerica, which financed $8.52 million of the purchase price, filed a notice of default, claiming $508,374 in missed monthly payments and other costs since June, according to public records. A receiver was appointed for the property on Sept. 20
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