Housing
This section of the BDN aims to help readers understand Maine’s housing crisis, the volatile real estate market and the public policy behind them. Read more Housing coverage here.
The foreclosure auction for a Kennebunkport camping resort was postponed indefinitely after the company that owns it filed for bankruptcy.
The foreclosure auction of Sandy Pines Campground in Kennebunkport was set for March 5, but the event was “postponed until further notice due to a bankruptcy filing,” according to the Portland-based Keenan Auction Company.
A representative from Keenan Auction Company declined to comment on Tuesday on the auction of the property or whether it will be rescheduled.
Sandy Pines LLC, of which Tim Harrington owns 100% of the shares, filed for bankruptcy on Feb. 24 and the case was ongoing as of Tuesday, according to court documents.
This is the latest financial hiccup for Harrington, who is also facing liens and legal complaints over unpaid contractor services for work done at the Asticou Hotel on Mount Desert Island, which he also owns. That hotel re-opened last year after a $28 million renovation.
A foreclosure affidavit from Bangor Savings Bank, Sandy Pines LLC’s lender, was filed Jan. 20 with the York County Registry of Deeds.
The campground is a little more than a mile from Goose Rocks Beach and spans more than 46 acres, according to the Kennan Auction Company.
The resort has 268 sites ranging from glamping — or “glamorous camping” — tents and small cottages to covered wagons, A-frame huts and RV sites, the business’s website shows.
Amenities at the campsite include a saltwater pool, Wi-Fi, fire pits, picnic tables, a recreation area, playground, guest laundry, bath houses, a general store, and a grand lodge with a reception area.
Sandy Pines was last sold in 2018 and its assessed value is nearly $2.2 million, according to town property records.
