You are here: News - Local - Breaking News

Published: 4:24 pm Monday, Feb. 01, 2010

Updated: 6:16 am Thursday, Feb. 04, 2010

Weyrich loses Villa Toscana, wineries and vineyards to lender at auction

tool name

close
tool goes here
| mcleveland@thetribunenews.com

Read the full story at Key Weyrich properties go to lender in auction


North County businessman David Weyrich lost key real estate holdings to lender Aegon at a public auction today after an unsuccessful attempt at finding a buyer for the properties.

The properties now in Aegon’s possession include the luxury hotel Villa Toscana and Martin Weyrich Winery, vineyards and tasting room in Paso Robles; York Mountain Winery and vineyards in Templeton; and Jack Ranch Vineyard in San Luis Obispo.

Since the late 1990s, Weyrich had invested millions of dollars into housing developments, a jet service, wineries and hotels in the county. But he has been steadily losing ground to his creditors in the last two years.

Martin Weyrich LLC owed Aegon more than $17 million for the properties. The firm had postponed the auction three times since November because Weyrich was working with a private buyer to buy out Aegon’s interest, but no buyers ultimately stepped forward with terms satisfactory enough to the lender, according to brokers and lenders close to negotiations.

For more on this story, pick up Tuesday's edition of The Tribune.

About comments

Reader comments on SanLuisObispo.com are the opinions of the writer, not The Tribune. If you see an objectionable comment, click the "report abuse" button below it. We will delete comments containing inappropriate links, obscenities, hate speech, and personal attacks. Flagrant or repeat violators will be banned. See more about comments here.

What you should know about comments on SanLuisObispo.com

SanLuisObispo.com is happy to provide a forum for reader interaction, discussion, feedback and reaction to our stories. However, we reserve the right to delete inappropriate comments or ban users who can't play nice. See our full terms of service here.

Here are some rules of the road:

  • Keep your comments civil. Don't insult one another or the subjects of our articles. If you think a comment violates our guidelines click the "report abuse" button. Responding to the comment will only encourage bad behavior.
  • Don't use profanities, vulgarities or hate speech. This is a general interest news site. Sometimes, there are children present. Don't say anything in a way you wouldn't want your own child to hear.
  • Do not attack other users; focus your comments on issues, not individuals.
  • Stay on topic. Only post comments relevant to the article at hand. If you want to discuss an issue with a specific user, click on his profile name and leave him a public message.
  • Do not copy and paste outside material into the comment box.
  • Don't repeat the same comment over and over. We heard you the first time.
  • Do not use the commenting system for advertising. That's spam and it isn't allowed.
  • Don't use all capital letters. That's akin to yelling and not appreciated by the audience.

You should also know that The Tribune does not screen comments before they are posted. You are more likely to see inappropriate comments before our staff does, so we ask that you click the "report abuse" button to submit those comments for moderator review. You also may notify us via email at webmaster@thetribunenews.com. Note the headline on which the comment is made and tell us the profile name of the user who made the comment. Remember, comment moderation is subjective. You may find some material objectionable that we won't and vice versa.

If you submit a comment, the username of your account will appear along with it. Users cannot remove their own comments once they have submitted them, but you may ask our staff to retract one of your comments by sending an email to webmaster@thetribunenews.com. Again, make sure you note the headline on which the comment is made and tell us your profile name.

Our news, your way

Get breaking news on your cell phone

Sign up for breaking news alerts from SanLuisObispo.com and get the latest news sent to your cell phone via text message.

Type in your cell phone number

( ) -

I accept the terms and conditions (click to view)

Keep your phone handy!

Upon hitting the Sign up! button, you will receive a message with a four-digit code at the end. Enter this number on the next screen and press the Confirm button.

Terms and Conditions:

By signing up for alerts from this site, you are signing up for a program that may include up to 5 SMS text alert(s) per alert category per day. There is no service fee charged per month but your carrier's standard text messaging and other charges may apply. You may stop this subscription service at any time by sending the text message "STOP" to 72737. You must be at least thirteen (13) years of age to use our alert services. If you are between 13 and 17 years old, you agree that you have received parental permission both to complete the registration process and to receive SMS content on your cell phone. For help, send the text message "HELP" to 72737. This service will work with ATT, Verizon, Sprint, Nextel, Alltell, US Cellular, Cincinnati Bell, Boost, Virgin Mobile USA, Celluar South, Telos, Centennial, East Kentucky Network, Cellcom, Immix and Rural Celluar.

Quick Job Search
Top Jobs