Jan
12

Summerville’s Woodlands Inn Avoids Foreclosure

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Facing the threat of foreclosure, the acclaimed Woodlands Inn in Summerville has slipped back into the deep pockets of its previous owner. A hospitality firm owned by Virginia billionaire Sheila C. Johnson recently reclaimed its full interest in the tony getaway from a company led by Charleston attorney and Flowertown resident Johnny Linton.

Linton’s Summerville Inns of Grandeur LLC bought the high-end lodging and dining spot to much fanfare less than 18 months ago from Johnson’s Salamander Hotels and Resorts.

Most of the financial details from the September 2010 sale were not disclosed, but Linton’s family-owned business paid slightly more than $2 million for the real estate, property records show. Johnson helped finance the deal, and her firm retained a minority stake in Woodlands. Also, her resort management business continued to run the top-rated inn and dining room.

The company said in a written statement provided Wednesday that Summerville Inns of Grandeur voluntarily relinquished the deed to Woodlands on Dec. 22 to avoid letting the property fall into foreclosure.

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