Campground & RV Park E-News - Issue 44
Nevada-Dunham and Associates, a San Diegobased, privately held trust company, has acquired the title to the former Seibt Desert Retreat RV Park for $4 million dollars during a trustee sale last Wednesday. There were no buyers for the property so it reverted back to the beneficiary. Dunham and Associates is the first trust deed holder
for the property which was renamed the Nevada Treasure RV Park since developer Hans Seibt declared Chapter 7 bankruptcy last September. The unpaid balance on the obligation secured by the property, with costs, expenses and advances was \$8.56 million according to the advertisement for the trustee sale. It was a unitary sale, sold in
one piece with 188 RV lots, a bowling alley, fitness center, swimming pool, putting green, RV wash area, convention center and restaurant. Seibt made the last payment on a promisory note in June 2008. An appraiser placed the fair market value of the resort at \$8.12 million. Continued Page 3
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