HILCO REAL ESTATE SALES ANNOUNCES LIGHTHOUSE INN AT ARANSAS BAY AVAILABLE THROUGH BANKRUPTCY SALE IN ROCKPORT, TEXAS
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NORTHBROOK, Ill., Sept. 26, 2024 ~ Hilco Real Estate Sales has announced that the qualifying bid deadline for the 78-room Lighthouse Inn at Aransas Bay, located in Rockport, Texas, will be on October 30, 2024. This waterfront property, situated on 2.056± acres along the scenic southwestern Texas Gulf Coast, presents a unique opportunity for opportunistic hospitality operators, investors and redevelopers.

The 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. It was fully renovated in 2018 and is currently operating with a full staff in place. With its prime location and recent renovations, this independent property has significant potential to become the premier waterfront hospitality hotel in the area.

Located approximately 30 miles northeast of Corpus Christi, the Lighthouse Inn is easily accessible off State Highway 35 on Fulton Beach Road at the entrance to Fulton Harbor. The surrounding area is known for its high-output port activity and steady population growth 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.

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The ongoing recovery from the COVID-19 pandemic has seen increased travel demand which is expected to continue and boost hotel occupancy and other hospitality services. Rockport is particularly known for its fishing, art community, restaurants and being home to the state's only Blue Wave Beach.

According to Stephen Madura, senior vice president at Hilco Real Estate Sales: "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." He also anticipates that 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."

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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). Interested bidders must submit their bids on or before the deadline of October 30 at 5:00 p.m. (CT) using the Asset Purchase Agreement (APA) document available for review and download from Hilco Real Estate Sale's website.

For those interested in participating in the bankruptcy sale process, Hilco Real Estate Sale's website provides all necessary requirements. 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. Michael Kneifel can also be contacted at (847) 201-2322 or Jordan Schack at (847) 504-3297 for any additional inquiries.

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