Orlando’s David Siegel explains why he’s selling ‘excess’ real estate right now

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

Orlando timeshare king David Siegel has been busy in recent months marketing properties he owns here, as Central Florida’s real estate market attracts record-setting prices.

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Siegel told Orlando Business Journal he’s selling some of his Central Florida properties in a market that’s “definitely hotter” now than it was in 2005, a time that’s considered a high-water mark for Orlando real estate prices.

Siegel said he owns thousands of acres outside of his timeshare empire where he’s CEO of Orlando-based Westgate Resorts Inc., which is the world’s largest privately held timeshare company.

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For example, on July 22, Westgate’s parent company Central Florida Investments Inc. sold its The Seasons Resort at 5736 S. Texas Ave. for $6.8 million to Casa Grande, Arizona-based Diamond Elite Orlando LLC. The property likely will be redeveloped into new apartments.

Click here to read Jack Witthaus’ story on the Orlando Business Journal’s website.

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