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Waterford Development Corporation in Cooperation With AmeriBid LLC to Offer at Auction the Silver Mountain Resort in Kellogg, Idaho

KELLOGG, Idaho, Jan. 24, 2013 (GLOBE NEWSWIRE) -- Waterford Development Corporation of Needham, Massachusetts, (www.waterforddevelopment.com) in cooperation with AmeriBid LLC out of Tulsa, Oklahoma, (www.AmeriBid.com) announces the auction of the Silver Mountain Resort located in Kellogg, Idaho. According to J. Murph Yule who will be coordinating the effort, "The sale of Silver Mountain Resort offers a unique opportunity for a team of professional operators to acquire a resort property with over $60 million in infrastructure in place for a fraction of the replacement cost."

Several factions of the resort are being offered via sealed bid auction on February 12, 2013. This auction presents a unique opportunity for bidders to acquire all or part of a multi-season regional destination ski and summer resort.

Established in 1968, but reborn in 1996 as a full-service four season resort, Silver Mountain is easily one of the most accessible skiing vacation resorts. It is located in the Pacific Northwest, just off Interstate 90 and is approximately 70 miles east of Spokane International Airport.

The Ski/Summer Resort is located on 1,600+/- privately owned acres and includes 73 ski trails, an on-mountain lodge, snow tube park, 30+/- miles of hiking & biking trails, amphitheater and seven lifts.

The attractive Gondola Village features the Morning Star Lodge Condominiums (277 privately owned residential units and 14 commercial units), Noah's restaurant, commercial space for an additional restaurant/pub, Silver Rapids Indoor Waterpark and the Galena Golf Course Community which is nearby.

The Silver Rapids Waterpark is a 42,000± sf, state-of-the-art facility built in 2007 (opened in 2008) for $21 Million with 11 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.

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 auction process.

Bids from interested parties can include any or all features of the resort, including bidding on the resort as an entirety. Sealed bids for any or all of these properties are due February 12 at 3:00 P.M. EST.

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

Source: AmeriBid