Mainer buys Mount Abram Ski Resort

BETHEL – A Maine man has bought the Mount Abram Ski Resort complex for $325,000.

The man, who wanted to remain anonymous, made the winning bid Wednesday during a real estate auction. He has 45 days to complete the deal with Camden National Bank.

The bank initiated foreclosure proceedings on the resort and surrounding properties in September.

The former owner, Steamship Navigation Co., acquired the 700-acre resort for $455,000 from the Norway Savings Bank in August 1998, following a foreclosure by the Norway bank. Steamship Navigation Co. is owned by Randy and Kathleen Dunican, of Locke Mills, who were the third owners of the resort in seven years.

The new owner was from a family of “local folks who care about the mountain and who are absolutely dedicated to making the mountain a success,” according to auctioneer Tom Saturley of Auction Properties Ltd. of Portland.

“He’s in shock after winning the auction. He’s passionate about skiing and wants to make Mount Abram bigger than it’s been in the past,” Saturley said.

The new owner was already assembling a team of investors and managers. Saturley believed he would open the ski resort on its usual schedule, the week before Christmas.

The resort has 35 ski trails, a 600-foot snow tubing park and five lifts. The sale included two lodges, a ski patrol facility and warming hut, a rental shop, a pond, equipment and other buildings.

According to the prospectus, the total assessed value of the resort with excess land is $1.55 million. More than $11,000 in taxes is owed.

Saturley tried to begin the bidding at $1 million. No bids were made and the price quickly dropped to $500,000. There were no takers, so bidders began the process at $250,000.

Camden National Bank bought a second parcel of two subdivisions made up of 23 one-acre lots for $100,000.