ASSET PURCHASE AGREEMENTAsset Purchase Agreement • June 26th, 2007 • Golf Trust of America Inc • Real estate investment trusts • Florida
THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is dated as of June 25, 2007 (the “Execution Date”), by and among (1) (i) Golf Trust of America, Inc., a Maryland corporation (“GTA”), (ii) GTA-IB, LLC, a Florida limited liability company (“Seller”), (iii) Golf Trust of America, L.P., a Delaware limited partnership and the indirect parent of Seller (“Parent”), (iv) GTA-IB Golf Resort, LLC, a Florida limited liability company (“Holding Company”), (v) GTA-IB Condominium, LLC, a Florida limited liability company (“Condo Owner”), and (vi) GTA-IB Management, LLC, a Florida limited liability company (“Management Company”, and (i) through (vi) together the “Seller Entities”), and (2) (i) Salamander Innisbrook Securities, LLC, a Florida limited liability company (“SIS”), (ii) Salamander Innisbrook Condominium, LLC, a Florida limited liability company (“SIC”), and (iii) Salamander Innisbrook, LLC, a Florida limited liability company (“SI”, and together with SIS and SIC, “Buyer”).
