Sandy Pines Campground in Kennebunkport (Maine) is up for sale — again — amid bankruptcy proceedings, according to the Portland Press Herald.
Before its sale was initially postponed, the popular campground had been set to be sold in March amid foreclosure proceedings. The sale follows a Chapter 11 bankruptcy filing by Sandy Pines’ current owner; the resort is part of Atlantic Hospitality, run by Tim Harrington.
The sale is now back on after the U.S. Bankruptcy Court for the District of Maine approved a sealed bid sale format, a procedure in which interested buyers submit their bids simultaneously for the seller to consider once the bid deadline passes and the bids are unsealed.
The deadline for prospective buyers to bid is May 27. The sale is being handled by Keenan Auction Company Inc, in coordination with commercial real estate groups Hunneman and CBRE.
The 46.25-acre property consists of 268 campsites, a heated saltwater pool, and several different lodging options for those without a tent or RV.
According to court documents, Sandy Pines LLC has more than $16 million in total assets and over $20 million in liabilities.
