Market Overview

Waterford Development Corporation in Cooperation With AmeriBid LLC to Offer at Auction the Silver Rapids Indoor Waterpark and Property Management Contract

KELLOGG, Idaho, Dec. 3, 2012 (GLOBE NEWSWIRE) -- Waterford Development Corporation of Needham, Massachusetts, (www.waterforddevelopment.com) in cooperation with AmeriBid LLC out of Tulsa, Oklahoma, (www.AmeriBid.com) announce the auction of the Silver Mountain Resort located in Kellogg, Idaho. According to J. Murph Yule who will be coordinating the effort, "Selling the resort assets to a team of professional operators is the best method to create value for the property for future operations."

Being offered for auction on January 15, 2013, are the Silver Rapids Indoor Waterpark and Property Management Contract. The Silver Rapids Waterpark is a 42,000+/- sf, state-of-the-art facility built in 2009 for $21 Million. It has many exciting features including a Flowrider® surf wave, lazy river, hot tubs, tube slides, body slides, splash decks, and cabanas. The park also includes a restaurant & bar and retail space. In 2010, Silver Rapids was voted by Huffington Post and Budget Travel as one of the top ten waterparks in the USA. 

The property management contract consists of 200+ guest condominiums located in the Morning Star Lodge at Silver Mountain Resort. Sealed bids for both of these properties are due at 3:00 P.M. EST. 

This auction is the first in a series of sealed bid sales involving the Silver Mountain Resort as a whole. Other assets being offered for auction include a mid-February sale of the ski and mountain operations at the resort, as well as additional assets being offered throughout the spring months. Silver Mountain Resort will continue to operate all aspects of the resort and serve its daily customers with both recreational and lodging activities throughout the upcoming season.

It is highly recommended that you acquire additional information by visiting AmeriBid.com/SMR and signing the Non-Disclosure Agreement. Additionally, J. Murph Yule can be reached directly at jmyule@waterforddevelopment.com or 781.449.7380 x 7.

Headquartered in Tulsa, Okla., AmeriBid is the premier global real estate auction leader specializing in the sale of commercial and residential real estate, land properties and other assets for lenders, servicers, receivers, bankruptcy attorneys, estates, private owners, investment companies and local, state and federal government agencies.

The AmeriBid logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=15338

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CONTACT: Media Contact: J. Murph Yule 781.449.7380 x 7 617.510.4600

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