Date Change: Waterford Development Corporation and AmeriBid LLC's Auction of Silver Mountain Resort to Commence March 19th

KELLOGG, Idaho, Feb. 13, 2013 (GLOBE NEWSWIRE) -- Waterford Development Corporation of Needham, Massachusetts, ( in cooperation with AmeriBid LLC out of Tulsa, Oklahoma, ( announce a date change for their auction of the Silver Mountain Resort located in Kellogg, Idaho. The sealed bids for this auction were originally scheduled to be due on February 12th, 2013, but will now be due on March 19th, 2013. The auction has been pushed back from its original date to allow sufficient time for interested bidders to do their due diligence on the resort property.

Several distinct operating units associated with the resort are being offered via sealed bid auction on March 19th, 2013. 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."

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 many exciting attractions. 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, offered in several packages, including bidding on the resort as an entirety. Sealed bids for any or all of these properties are due March 19th, 2013, at 3:00 P.M. EDT.

It is highly recommended that you acquire additional information by visiting and signing the Non-Disclosure Agreement. Additionally, J. Murph Yule can be reached directly at 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.

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

Source: AmeriBid