Interest in purchasing Fishermen’s Village continues to rise, and as of July 19, SVN Commercial Partners received 50 executed documents after sending out 80 requested nondisclosure agreements, SVN Managing Partner Ashley Bloom said.
SVN is selling the property through a call for offers process, which is a closed bid auction.
The property was previously owned by Jonathan Larmore, CEO of Arizona-based Arciterra Companies LLC, who was removed from control of the property in favor of court-appointed receiver Jeffrey Kolessar of PGFL Associates LLC in October 2023.
Constructed in 1980 on the site of early 20th century fish packing plants, the waterfront shopping and dining destination has 85,549 square feet of retail space, 47 hotel rooms, a marina with 116 wet slips and 604 parking spaces.
Although there was speculation that the property’s selling price could be as high as $30 million, it would depend on market conditions and the offers that come in, Bloom said.
The sale wouldn’t necessarily go to the highest bidder. While price would be considered, terms and conditions also will be part of the determination, Bloom explained.
For instance, if there is a cash buyer whose offer is lower than an interested party who offers more money but seeks financing or perhaps certain conditions, the property could be sold to the bidder offering less money.
The call for offers ends Sept. 2, and all bids must be received by 5 p.m. that day, Bloom said.
Larmore, of Punta Gorda, lost control of Fishermen’s Village and other shopping malls and properties across the nation after facing federal charges.
He purchased Fishermen’s Village for a reported $8.1 million in 2012, but afterward he had personal and professional troubles and filed for bankruptcy for his various holdings, including Fishermen’s Village.
Larmore was hit with a restraining order in a $35 million fraud case in December 2023, and in March 2024, he was charged federally for stock fraud.
Larmore was indicted for giving a false $77 million tender offer for WeWork stock and is charged with tender offer fraud and a count of securities fraud, each of which carries a maximum sentence of 20 years in prison.
Once Fishermen’s Village is sold and after closing costs and other fees associated with the transaction are paid, the first portion of the sale will go toward satisfying the loan, Bloom said.
Then, others who are owed money and have claims against Larmore will be paid.
Bloom said Larmore won’t get any of the sale’s proceeds due to the large amount owed to creditors.
Two businesses in Fishermen’s Village—Village Brewhouse and Simply Sweet, are under federal receivership, Bloom said.
The future of Fishermen’s Village and whether it will remain the same, will be determined by the new owner, he said.
