Area Resort Sells for Half of Cost to Build

A source out of Kansas City is reporting that Camden on the Lake has been sold. The Kansas City Business Journal says Lodging One Hospitality L-L-C has purchased the resort for 14-million-dollars. Valley View Bank bought the property in 2010 while it was in foreclosure for about 25-million-dollars. Valley View Bank originally lent 31-million-dollars for the original construction. Only 25 condos were sold and Merlyn Vandervort walked away leaving some 20-million-dollars in equity…