Two months after Royal Bank of Canada (RBC) foreclosed on the Upper Bundoran manor and put the Georgian mansion back on the market, Wells Fargo purchased more than 2,000 acres of southern Albemarle’s preservation development at auction for $7.5 million.
"Still, the current developers are hopeful Wells Fargo will continue their vision," reports the C’ville Bubble Blog. "No Biscuit Run-style bailout here, and no Donald Trump bailout, either"—referring to competing assessments for land preservation tax credits and the Kluge Estate Winery & Vineyard, respectively.
From the start of this year, 13 Bundoran lots (not including the mansion that RBC bought back) sold—including 12 in February to the same Richmond-based limited liability company.