Kingsmill Resort and Spa should be out in the market within 45 days, according to WilliamsburgRealEstate.com.

A timeline for the sale does not exist, and there is no guarantee a transaction will happen because the transaction will be dependent on the potential buyers long-term operation of the property. The sale will include the 15 owned condominiums facilities, but not the two dozen residential neighborhoods.

"On Monday the residents of  Kingsmill in Williamsburg, VA  learned that Busch Properties, Inc. has hired  commercial real estate broker  (CB Richard Ellis ,CBRE),  to explore options to sell the resort and spa.

Kingsmill Resort and Spa Executive Vice President Robin Carson wrote in an e-mail to Kingsmill Club members that Busch has hired CB Richard Ellis (CBRE), the largest commercial real estate broker in the U.S. The e-mail states CBRE is 'a widely recognized leader in global real estate consulting.' CBRE’s Golf & Resort and Hospitality teams have been retained by Busch to provide sales transaction and assessment services, market the property and represent Kingsmill in negotiations, Carson wrote.

The sale includes almost all the resort’s operational assets. The conference center, three championship golf courses and the Bray Links, six restaurants, the spa and fitness center, the marina, 15 owned condominiums and management facilities of the resort property. What it excludes are the two dozen residential neighborhoods that formed the nucleus of greater Williamsburg’s first planned community."

Read the full story.