155-ACRE COLLEGE CAMPUS
Lender Approved Auction
August 18, 2020 at 1:00 pm
One Brennan Circle
Rutland County, VT 05764
One Brennan Circle
Poultney, VT 05764
Magnificent 155-Acre College Campus
22 Impressive Buildings – 447,000+ Sq Ft
Environmentally Sustainable/Green Campus
Seeking Stalking Horse Bids (Financing Available) – Rare Opportunity!
- Green Mountain College, One Brennan Circle, Poultney, Rutland County, VT 05764
- Located on the Vermont/New York Border in the Southern Vermont Lakes Region
- 40 Minutes to Lake George, 1.5 Hours to Albany; 3.5 Hours to Boston; 4 Hours to New York City; 3 Hours to Montreal
- Magnificent 155 Acre Campus Improved with 22 Buildings of High-End Brick & Slate Construction
- Turn-Key Opportunity – Equipped/Furnished
- Campus Received a Perfect “Green Rating” by Princeton Review’s Green Honor Roll
- Wood-Fueled Biomass Steam Heat System. Built in 2010 at a Cost of $5,500,000
- Skiing, Hiking & Bike Trails on and/or Nearby Property
- Potential Alternative Uses Include Religious Compound, Assisted Living, Housing, Summer Camp, Addiction Retreat and Many Others
22 Buildings – 445,000+ Sq Ft Total Space:
- 7 Dormitory Buildings
- 3 Mixed-Use Buildings
- 3 Administrative Buildings
- 2 Arts Buildings/Galleries
- 3 Single Family Homes with Multiple Uses
- Library (3-Stories + Mezzanine & Lower Level)
- Gymnasium/Field House
- Biomass Plant/Maintenance Shop
- Housing for 654 Students
- 33 Classrooms
- Administrative Offices
- Lecture Halls
- Modern Cafeteria/Commercial Kitchens
- Student/Community Center
- Indoor Gymnasium/Basketball Court w/Bleacher Seating
- Indoor Pool
- Indoor Fitness Center
- Playing Fields
- 400-Seat Theater
- Fine Arts Studios/Galleries
- Working Organic Farm w/Barn & Greenhouse
- Guest Residences
- Buildings Constructed between 1855 and 1969
- 6 Buildings Renovated Since 2000
- Wood-Fired BioMass Steam Heat System Services Most Buildings
- Oil Burner Back-Up
- Solar-Array Panels (Leased) Provide 809.6 KW of Electricity
- Underground Electrical System Replaced in 2009 at a cost of $1,200,000
- Sprinkler Systems Installed in Buildings used Exclusively as Dormitories
- New Windows Installed in 2012 in Residence Halls
- Ample Paved & Unpaved Parking
- Public Utilities: Water, Sewer, Electric & Gas
- 18 Tax Lots
- Zoning: CC (College Campus)
- Annual Real Estate Taxes (2018/2019) $15,994.82 w/Exemption as Education Provider
- Annual Real Estate Taxes Estimate – as Non-Exempt User: $132,000 (Appx)
- Flood Zone A
- Favorable Financing Available for Qualified Buyers
- Currently Seeking Stalking Horse Bids
Viewings: Available by appointment upon request.
Bidder Qualification Deadline: Monday, August 17, 2020 before 4:00 pm.
Auction Date & Time: Thursday, August 20, 2020 at 1:00 pm. Only Qualified Bidders as defined in the Terms & Conditions of Sale are qualified to participate.
Terms & Conditions of Sale: Sold free & clear of all monetary liens. Subject to sale prior to auction as pre-auction offers will be considered.
Buyer’s Premium: A seven (7%) percent Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.
Broker Participation: A two (2%) percent commission will be paid to any properly licensed Buyer Broker who registers a Successful Buyer in accordance with the Buyer Broker guidelines. Please download the Broker Participation Form for details.
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Verdolino & Lowey, P.C., Chief Restructuring Officer
Maltz Auctions, Marketing Agent: Phone: (516) 349-7022
Tyler B. Hirchak, Licensed VT Auctioneer # 00570002420
MSI Realty, Licensed VT Broker # 0810134047
The Real Property is being sold “AS IS” “WHERE IS”, “WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature, and free and clear of any liens, claims, or encumbrances of whatever kind or nature, with such liens, if any, to attach to the proceeds of sale in such order and priority as they existed immediately prior to the Closing, and the sale of the Real Property is subject to, among other things (a) any state of facts that an accurate survey may show; (b) any covenants, restrictions and easements of record; (c) any state of facts a physical inspection may show; (d) any building or zoning ordinances or other applicable municipal regulations and violations thereof; and (e) environmental conditions. By delivering their respective Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Real Property, the state of title thereof and laws, rules and regulations applicable thereto, and will rely solely thereon and on their own independent investigations and inspections of the Real Property in making their bids. Neither Maltz, Hirchak, MSI, the Seller nor any of their collective representatives makes any representations or warrantees with respect to the permissible uses of the Real Property including, but not limited to, the zoning of the Real Property. All Bidders acknowledge that they have conducted their own due diligence in connection with the Real Property and are not relying on any information provided by Maltz, Hirchak, MSI, the Seller, or their professionals. The Real Property will be sold subject to any and all violations or conditions requiring corrective action. The information contained herein was derived from sources deemed reliable, but is not guaranteed. Most of the information provided has been obtained from third party sources and has not been independently verified. It is the responsibility of the Buyer to determine the accuracy of all components of the sale and Property. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation, environmental and physical condition of the Property. All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction. Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.