Purchase and Sale Agreement for the Disposition of Wildewood Country Club and The Country Club at Woodcreek Farms (collectively, "Stonehenge").

On September 26, 2008, Golf Trust of America, L.P. ("the Parent," and the operating partnership of Golf Trust of America, Inc., "the "Company") and the Parent's subsidiary GTA-Stonehenge, LLC (collectively, the "Seller"), entered into a Purchase and Sale Agreement (the "Agreement") with WCWW Committee, LLC, (the "Purchaser"). The Agreement, among other things, provides for the acquisition by the Purchaser of the business (the "Business") of the Wildewood Country Club and The Country Club of Woodcreek Farms (collectively, the "Club Facilities"). The Agreement provides that the Purchaser will pay to the Seller upon the closing of the transactions contemplated by the Agreement (the "Closing") $4.1 million in cash, subject to certain credits, adjustments and prorations pursuant to the Agreement. The Closing is subject to customary closing conditions and is expected to occur by January 24, 2009.

A copy of the Agreement is included as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The description of the Agreement is qualified in its entirety by the contents thereof.

A copy of a related press release that was issued is included as Exhibit 99 to this Current Report on Form 8-K and is incorporated herein by reference.

The information under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

(d) Exhibits

Exhibit No.                                 Description

10.1          Purchase and Sale Agreement by and among Golf Trust of America, L.P.
              and WCWW Committee, LLC dated as of September 26, 2008.

99            Press Release of Golf Trust of America, Inc.