ST. AUGUSTINE, Fla. – A well-known northeast Florida developer that sought to buy the Marineland Dolphin Adventure at a bankruptcy auction is now taking a back seat to a bidder that offered to pay more than double the developer’s initial bid.
At a bankruptcy auction conducted Monday, Delightful Development LLC offered a $7.1 million cash bid for the attraction near the St. Johns-Flagler county line that dates back to 1938.
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Marineland has been owned by The Dolphin Company since 2019. In March, the company, which is based in Mexico and operates marine life attractions in eight countries, filed for bankruptcy.
As part of the bankruptcy process, initial bids on Marineland and other company assets were sought. Bankruptcy court documents filed last week indicated a “stalking horse” purchase agreement with The Hutson Companies, for $3.5 million. Stalking horse bids are initial bids on a bankrupt company’s assets that are used to set a baseline for a bankruptcy auction.
The Hutson Companies has developed projects, including master-planned communities OakLeaf Plantation and SilverLeaf. News4JAX reached out to The Hutson Companies about its potential plans for the property, but did not hear back. However, a purchase agreement filed with last week’s court document indicated the seller would have an obligation to relocate all animals within 90 days.
Though Delightful Development LLC is listed as the successful bidder, Hutson Companies remains listed as a backup bidder. A court hearing is scheduled for Oct. 27 in Delaware to consider the sale to the successful bidder.
The Florida Secretary of State’s corporation records do not show any listings for a Delightful Development LLC. Several other states show companies registered with that name, but it is not yet clear which of them may have been the bidder in the Marineland bankruptcy auction.
Monday’s bankruptcy auction also dealt with Gulf World Marine Park in Panama City Beach, also owned by The Dolphin Company. A Panama City Beach-based company, By the Sea Resorts, Inc., had submitted a $3.3 million stalking horse bid for that attraction, which closed down in May following several dolphin deaths. By the Sea Resorts ended up being the successful bidder in that auction, though at a higher purchase price of $4,550,000. The Crotty Company LLC is listed as a backup bidder in that sale.