Hilco Real Estate Announces Bankruptcy Sale of Lighthouse Inn at Aransas Bay in Rockport, Texas
NORTHBROOK, Ill., Sept. 26, 2024 /JamNewsWire/ — Hilco Real Estate Sales announces October 30, 2024, as the qualifying bid deadline for the 78-room Lighthouse Inn at Aransas Bay located at 200 South Fulton Beach Road in Rockport, Texas. The Chapter 11 bankruptcy sale is subject to approval by the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division. This offering allows for the acquisition of an operating asset with the full staff in place.
This waterfront property is situated on 2.056± acres along the scenic southwestern Texas Gulf Coast, making it an ideal listing for opportunistic hospitality operators, investors and redevelopers alike. The 49,084± SF hotel features ample meeting and event space, a full-service restaurant and bar overlooking the bay, a fitness room, private pier access, an outdoor pool, garden area, grill space and 82± surface parking spaces. Fully renovated in 2018, this independent property presents significant upside potential as the premier waterfront hospitality hotel in the area.
Situated approximately 30 miles northeast of Corpus Christi, the hotel site is located off State Highway 35 on Fulton Beach Road at the entrance to Fulton Harbor. Corpus Christi is recognized for its high-output port activity and steady population growth, along with economic expansion in sectors such as energy, manufacturing and logistics. Additionally, its appeal as a popular tourist destination, with access to beautiful beaches, waterfront attractions and cultural sites, provides a strong foundation for the hospitality sector. The ongoing recovery from the COVID-19 pandemic has seen increased travel demand, which is expected to continue, boosting hotel occupancy and other hospitality services. Rockport is particularly known for its fishing, art community, restaurants and the state’s only Blue Wave Beach.
Stephen Madura, senior vice president at Hilco Real Estate Sales, stated, “The sale of the Lighthouse Inn represents a significant milestone for the Rockport real estate market. This property has long been a beloved fixture in the community, offering charm and unique appeal that attracts both locals and tourists. We anticipate that the new ownership will continue to build on the Lighthouse Inn’s legacy, enhancing its offerings and contributing positively to Rockport’s tourism industry.”
Terence Rochford, J.D., executive vice president of business development at Hilco Real Estate Sales, added, “As we move forward, we’re optimistic that the new owners will leverage its strategic position and strong community ties to further elevate the property’s appeal and contribute to Rockport’s tourism industry.”
The sale is subject to Bankruptcy Court Approval of the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division, In re: Heritage Hotels Rockport LLC, Case No. 24-20201 (MI). Bids must be received on or before the deadline of October 30 at 5:00 p.m. (CT) and must be submitted on the Asset Purchase Agreement (APA) document available for review and download from Hilco Real Estate Sale’s website.
Interested bidders should review the requirements in order to participate in the bankruptcy sale process available on Hilco Real Estate Sale’s website. For further information, please contact Michael Kneifel at (847) 201-2322 or mkneifel@hilcoglobal.com or Jordan Schack at (847) 504-3297 or jschack@hilcoglobal.com.
For further information on the property, sale process, and terms or to obtain access to due diligence documents, please visit HilcoRealEstateSales.com or call (855) 755-2300.
About Hilco Real Estate Sales
Successfully positioning the real estate holdings within a company’s portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company (HilcoGlobal.com), we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments.
The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation.
SOURCE Hilco Real Estate