Parkway Plaza fetches $15.5 million at auction

A representative for GreenLake Real Estate Fund LLC waits to bid on the Parkway Plaza during an auction on Thursday morning at the Townsend Justice Center in Casper. (Dan Cepeda, Oil City)

In a quick transaction in the lobby of the Townsend Justice Center, Casper’s troubled hotel complex was sold for $15, 500,000 dollars during a foreclosure auction on Thursday morning.

Only one bid was submitted by a man representing GreenLake Real Estate Fund LLC., who quickly left without making a statement after the auction. The final bid was also the starting bid on the property.

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GreenLake Real Estate Fund was the original lender to Cru Casper LLC, which operated the historic hotel complex before it shut down without warning on Oct. 31.

According to its website, California-based GreenLake “specializes in partnering with principals on discounted pay-offs, value-add, repositioning, and acquisition opportunities.”

Numerous people including some city employees gathered in the lobby to watch the auction, which lasted mere minutes.

Read the history and see historic photos of the 60-year-old Parkway Plaza here.

Deputy sheriff Jay Snider takes bids for the Parkway Plaza during a foreclosure auction on Thursday, Dec. 6, in the lobby of the Townsend Justice Center in Casper. The property was sold to a real estate group for $15.5 million dollars. (Dan Cepeda, Oil City)

The Parkway Plaza is seen after its closure on Nov. 1, 2018. (Dan Cepeda, Oil City)

The lobby of the Parkway Plaza is seen on Thursday, Nov. 1, 2018, one day after the sudden closure of the hotel and convention center. (Dan Cepeda, Oil City)

The Parkway Plaza, built in 1966, has been closed by its owners as of Wednesday, Oct. 31, 2018. (Dan Cepeda, Oil City)

A note announcing the Parkway Plaza’s closure is posted on the front door on Thursday, Nov. 1, 2018. (Dan Cepeda, Oil City)