The public auction of winery properties owned by Paso Robles businessman David Weyrich has been delayed once again from its scheduled bidding today on the San Luis Obispo courthouse steps to Dec. 24, according to a Chicago Title foreclosure bid information phone recording. The reason for the delay was “at beneficiary’s request,” the recording said.
This is the third time the auction has been postponed. It was originally supposed to take place last Friday.
The Tribune could not confirm why the delays have occurred, but the speculation by real estate agents and other interested parties is that Weyrich is negotiating with one or more private parties to sell the properties as a way to satisfy his creditors.
The Weyrich holdings at risk of being foreclosed upon include the Martin and Weyrich Winery, with more than 250 acres of vineyards; Villa Toscana, the luxury bed-and-breakfast inn nestled in the Martin and Weyrich vineyards in Paso Robles’ eastside; two tasting rooms; the York Mountain Winery and vineyards in Templeton; and the 280-acre Jack Ranch Vineyard in Edna Valley, according to notices of trustee sales filed with the county.
The properties were put up as collateral for an estimated $20 million that Weyrich has borrowed from Transamerica Financial Life Insurance Co., a subsidiary of Netherlands-based Aegon, documents show.
— Melanie Cleveland
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