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Hilco Real Estate LLC Announces Call For Offers Deadline For World-Class Sport Fishing Lodge

NORTHBROOK, Ill., May 12, 2015 (GLOBE NEWSWIRE) -- Hilco Real Estate LLC announces June 30, 2015 as the Call for Offers deadline for the award-winning Sportsman's Cove Lodge located near Ketchikan, Alaska. Ideally located on Prince of Wales Island with close proximity to Ketchikan and the lower 48 states, the Lodge has been acclaimed as being "Among the Top Ten Lodges in North America" by the outdoor writers of Traveling Angler magazine and Salmon and Steelhead Journal. Sportsman's Cove Lodge has also been featured on many national TV outdoor shows including Larry Csonka's "North to Alaska," "North American Fisherman TV" and ESPN 2.

Sportsman's Cove Lodge is a turnkey resort specializing in deep sea sport fishing on the protected waters of the famed Inside Passage. Located within a perfectly sheltered cove on the eastern shores of Prince of Wales Island, the Lodge is just a short 15-minute floatplane ride west from Ketchikan, Alaska. The property offers the perfect combination of access to Ketchikan, coupled with a remote location providing guests with serene fishing and a truly authentic wilderness experience. Ketchikan, Alaska's "First City," is the closest city to the Lower 48 market, only 90 minutes from Seattle by non-stop jet, with four daily flights.

Sportsman's Cove Lodge sits on a rare, 4.7-acre tract of land that was previously the site of a commercial fish cannery until the early 1930s when it was carved out from the surrounding 17 million acre Tongass National Forest by President Roosevelt. The property offers 156 feet of water frontage and is located adjacent to highly productive fishing grounds.

Today, Sportsman's Cove Lodge can accommodate 30-plus guests, based on double occupancy, in 16 guestrooms, each with private bath. The guestrooms are located in three different buildings within the lodge property and provide potential for expansion. Amenities include an eight-person hot tub and outdoor seating area, a fully stocked Otter Shoppe gift shop with $30,000 to $40,000 worth of inventory on hand, guest and staff laundry facilities, excellent AT &T and data coverage, and Wi-Fi satellite internet access available throughout the compound. The Lodge also features 21 staff rooms to accommodate a crew of more than 32 onsite personnel. Sustainability features include an approved Class-B public water system, an approved wastewater treatment plant, four generators, on-site tidal grid, and an ample and reliable water supply.

"Since the downturn in 2009, business has been coming back strong! The 2015 fishing season at Sportsman's Cove is completely sold out, and the 2016 season is already over 40 percent booked," says owner Larry McQuarrie, better known as Captain Mac. "We have loved every minute of every day at Sportsman's Cove Lodge, but after 25 years in business, it is time to pass the fishing rod to someone else, let someone else steer the ship." Additionally, Captain Mac and the management team are available to remain on board for a 12-month transition period following the sale should new ownership so desire.

The offering of Sportsman's Cove Lodge features a fleet of five fully outfitted, custom-built, 37-foot charter vessels (all in Bristol condition according to 2015 surveys) accommodating up to six guests in each fishing party. The lodge also owns a 56-foot, ex-military LCM-6 landing craft that serves as a supply vessel and can carry a 20-foot container of goods or 4,000 gallons of fuel in a spill-proof ISO tank. Additional support vessels include a 23-foot Munson fast response boat, an 18-foot Lund with new outboard, a 15-foot Skeeter and three 14-foot Lund skiffs with two new outboards. The property's 60-by-90-foot dock, with float plane extension, accommodates the fishing fleet, landing craft, and up to four DeHavilland Beavers at once, and features two dock buildings with vacuum fish packaging equipment, walk-in freezer, commercial fish smokers, 30 guest lockers for rain gear, fueling stations, chest freezers for bait and a fish weigh-in/photo station.

Five Charter Halibut Permits



While the sale includes all transferable wildlife, fishing, trail, business permits and a dock Tidelands lease, the Lodge's five Charter Halibut Permits (federally controlled and issued) are being sold or leased separately. Market prices for Charter Halibut Permits range from $30,000 - $40,000 each, or the permits can be leased for $3,000 per permit annually. One permit is required for each of the five charter boats.

Also being offered for sale separately are the Saltery Cottage, a popular, three-bedroom/three bath fully furnished guest house adjacent to the Lodge, and the Ketchikan Boat Maintenance/Storage Facility – within the Gateway Yacht Condominiums, located in Ketchikan. The maintenance facility features five 20-by-50-foot adjoining condo units totaling 6,000 square feet with 16-by-18-foot overhead doors, a mezzanine level with five networked computer workstations, a lunch/meeting room, satellite and/or high speed cable internet feed and cable TV. This package also includes a host of support vehicles and equipment used for transporting and maintaining the charter fleet, including a GMC7500 5-ton tractor truck, a Hyatt 48-foot gooseneck trailer and a Hyster forklift among others.

"With consumer sentiment trending away from the standard, vanilla lodging experience, we have seen an uptick in the demand for experience-centric hospitality assets. This is readily seen on the global stage with an explosion in the popularity of unique, adventure-based vacations, ranging from sea-kayaking to mountain climbing to deep sea fishing. Discerning travelers want an alternative to the standard 'bed-in-a-box' experience," said Jeffrey Azuse, Senior Vice President of Hilco Real Estate.

Azuse further noted, "On par with this trend, Sportsman's Cove Lodge provides guests with a spectacular fishing and authentic wilderness experience, as evidenced by the fact that over 85 percent of annual customers are returning guests."

Site visits for interested buyers will be conducted prior to the initial offer deadline in mid-June. The deadline for submitting initial offers to Hilco is June 30, by 5:00 pm Central Time. Offers should be submitted via email to smadura@hilcoglobal.com prior to the expiration of the deadline.

A detailed Virtual Data Room is available for the property, containing property specific information, an explanation of the sale process and the Terms of Sale. To obtain access to the Virtual Data Room, please contact the Project Manager at 847-504-2478.

For more information about Sportsman's Cove Lodge or other properties available at for sale, please visit www.HilcoRealEstate.com.

About Hilco Real Estate Hilco Real Estate ("HRE"), a Hilco Global company (www.hilcoglobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies & techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.

Owner's Representative
Stephen Madura
Hilco Real Estate, Inc.
855-755-2300
O: 847-504-2478
F: 847-714-1289
smadura@hilcoglobal.com

Media Contact
Margaret Nicoll
Gruman & Nicoll
O: 425-451-4387
C: 206-310-5750
margaret@gruman-nicoll.com

A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=32882

CONTACT: Gary Epstein Chief Marketing Officer Hilco Global 847 418 2712 gepstein@hilcoglobal.com

Source: Hilco Global