SILVER MOUNTAIN MODIFIES AUCTION, EXTENDS DEADLINE

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SILVER MOUNTAIN MODIFIES AUCTION, EXTENDS DEADLINE

SAM Magazine—Kellogg, Idaho, Feb. 26, 2013—Silver Mountain Resort in Kellogg has extended an online auction deadline in hopes of receiving additional qualified bidders.

An original January deadline to sell parts of the resort, ski area, golf course and other properties was canceled and the deadline extended to March 19. Terms of the auction were restructured as well, to make it easier for potential bidders to choose which elements of the resort they wish to bid on.

To date, 20 potential buyers have reviewed the resort’s financial records.

Push to The Latest: No

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The auction includes the 1,600 acre ski area and the three-mile gondola that connects it to town, an indoor waterpark, a property management contract for 270 condo units, another 14 commercial units, and the nine-hole Galena Ridge golf course.

The current owner, window and door manufacturer Jeld-Wen Inc., has invested $60 million over the past 17 years to make Silver Mountain a year-round destination. The company decided in 2010 to focus on its core business and to sell Silver. AmeriBid of Tulsa, Okla., is conducting the auction.