Bankruptcy Sale: Schlitterbahn Riverpark & Resort, Corpus Christi, TX

BANKRUPTCY SALE (Subject to Court Approval)
OPERATING WATERPARK AND RESORT
STALKING HORSE OFFERS BEING CONSIDERED

Situation Overview

Keen is pleased to offer for sale as a going-concern in whole or in part the brand new Schlitterbahn Resort and Waterpark with 92 hotel rooms, restaurant, 20,000+ sq. ft. of meeting space, outdoor waterpark, nine-hole golf course and driving range with ample parking, just minutes from the beach and located on famed North Padre Island in Corpus Christ, Texas. Also available are 109 acres of land suited for residential development and/or expansion plus the potential redevelopment of the 61 acre golf course.

Area Overview

Located within driving distance to 13.8 million residents living in the Texas Triangle, Corpus Christi is an attractive summer destination expected to see significant growth in the coming years.

 

 

 

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SCHLITTERBAHN RIVERPARK & RESORT – CORPUS CHRISI, TX
14353 Commodore Drive, Corpus Christi, TX

Completed and opened in 2015, this is a unique opportunity to take advantage of a more than $70 million dollar development being sold pursuant to the chapter 11 bankruptcy filing.

The offering includes all of the Debtors’ assets including FF&E and to the extent possible, the transaction will also include all intangible property relating to the hotel, water park and golf businesses such as its intellectual property, trade secrets, websites, internet domain names, trade names, and telephone numbers.

Details about the business and its assets are available, subject to an NDA, in a due diligence room.  A link to the NDA and data room is located below the highlights.

INVESTMENT/FINANCIAL HIGHLIGHTS

Extraordinary opportunity to acquire a newly completed destination resort with significant growth potential;

  • Projected stabilized revenue: $17,990,000;
  • Projected stabilized EBITDA: $3,938,000;
  • Project stabilized ADR: $200.99;
  • Potential economic incentives from the City of Corpus Christ.

Schlitterbahn Riverpark Drone View

Schlitterbahn Padre Plunge Drone View

Schlitterbahn Link to electronic NDA and Virtual Data Room

Schlitterbahn – Property Flyer

Schlitterbahn Investment Teaser