USA. Kean Realty to hold bankruptcy auction of Mariner Motel, Chincoteague

Sunday, 16 July 2006

Tom C. Smith, Jr. Chapter 7 Trustee for Mariner Motel Inc. (Debtor) has jointly retained Keen Realty, LLC and Zeb Barfield, Inc. to market and sell the Mariner Motel, a 92 room hotel located in Chincoteague, VA.

The two-story, 92 room Mariner Motel is located at 6273 Maddox Blvd., Chincoteague, VA and is Chincoteague Island's largest and most complete motel. This charming motel, with rustic surroundings and unique decor sits on 4.7+/- acres and offers a variety of housing, an outdoor pool, conference room, sun deck, children's play area, guest laundry facilities and a screened pavilion. 

A public auction of the Debtor's real estate and personal property will be held on August 15, 2006 at 12:00 noon and will take place at the Debtor's place of business, the Mariner Motel located at 6273 Maddox Blvd., Chincoteague, Virginia. 

A minimum bid will not be required at the time of the auction, however the highest bidder at the auction must make a deposit at the conclusion of the auction sale in the amount of $75,000 in certified funds. Closing of the sale shall occur within forty five (45) days of the date of the auction. 

"This is an excellent opportunity for developers, investors, and hotel/motel users. All interested parties must act immediately as we have an auction set for August 15, 2006," states Matthew Bordwin, Executive Vice President and Principal of Keen Realty. 

Keen Realty, LLC is a real estate consulting firm specializing in maximizing the value of its clients' real estate assets nationwide. Zeb Barfield, Inc. is a professional auctioneer who is committed to effective and economical methods of marketing real estate and personal property.

Last Updated ( Sunday, 16 July 2006 )