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BATH — Savings Bank of Maine, which foreclosed on the Bath Country Club, was the top bidder in an auction of the Whiskeag Road property April 13.
Joe Waites of Minerva Consulting of Georgia – who is helping the bank with loan workouts and was appointed as receiver for the club – said the bank bid $1.95 million. The bank will now try to sell the 117-acre club on the open market, he said.
Waites said last month that the club had defaulted on its mortgage.
The 18-hole golf course will continue to operate, and its former owners, Jason Marco and Shawn Arsenault, will manage it and be supervised by Waites, he said.
Marco and Arsenault purchased the club in 2006 from Harris Golf. According to Bath’s assessor database, the nearly 80-year-old club has an appraised land value of $1.59 million and an assessed building value of $1.89 million.