Location: 15300 Dino Drive, Burtonsville, Maryland, 20866, United States

Bankruptcy Court Ordered Sale of Burtonsville, Maryland Land with Existing Conditional Use Entitlements for Senior Housing Development

Asking Price: $5,500,000.00

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Description

Bid Deadline: March 14, 2025 at 5 pm CT
Possible Live Auction Date & Time: March 21, 2025 at 10 am CT, via Zoom
Minimum Bid: $5,500,000
Buyer’s Premium: 5% of Sale Price
Acres: Approx. 5.86 (255,262 SF)
Conditional Use Entitlements Now Included in the Sale: 88 Units Independent Living & 91 Beds of Assisting Living/Memory Care
Zoning: R200 or TDR

Property Description: This approx. 5.86 acre parcel of land located at 15300 Dino Dr., Burtonsville, MD 20866 with conditional use entitlements already in place for senior housing development is being sold by Order of the U.S. Bankruptcy Court for the District of Maryland. The property received conditional use entitlements from the Montgomery County, Maryland government including 88 units for independent living plus 91 beds of assisted living/memory care and is being sold with those conditional use entitlements by the Order of the U.S. Bankruptcy Court for the District of Maryland (such order filed on January 6, 2025 and attached here). Rule 27 of Land Use Rules of Procedure of Montgomery County provides the procedure for the transfer of a conditional use to a new holder.

This parcel is situated in a rapidly growing area, providing an attractive opportunity for investors looking to meet the rising demand for senior housing. For more information, please review the documents in the document vault of this listing.

**Potential purchasers must perform their own due diligence relating to the Property and its conditional use entitlements. This sale is an as is where is sale without any guarantees or warranties from Seller and/or its agents. **

Sale Process:
This sale is being conducted by Order of the U.S. Bankruptcy Court for the District of Maryland (Greenbelt Division) in Case No. 21-10491-MCR Chapter 11 (Burtonsville Crossing, LLC, Debtor) and Case No. 21-10492-MCR Chapter 11 (Elderhome Land, LLC, Debtor), Jointly Administered Under Case No. 21-10492 MCR.

Bids must be received on or before the deadline of March 14, 2025 at 5 p.m. (CT) and must be submitted on the Purchase and Sale Agreement provided here along with proof of sufficient funds. Bids should be submitted to Diana Peterson via email at dianap@awproperties.com. Subject to bankruptcy court approval the sale will conclude with the highest bidder.

The successful bidder and back-up bidder shall both be required to post a non-refundable good faith deposit, with no financing or inspection contingencies. The successful buyer shall close within seven (7) business days after Court approval of the sale and any stay of such order shall be waived.

Bid Procedures:

Please refer to the bidding procedures provided here. Any questions should be directed to Diana Peterson: dianap@awproperties.com; 312.218.6102.


For Information Relating to the Other Land Parcel Included in this Bankruptcy Court Ordered Sale, Please Click Here:
https://auctions.awproperties.com/product/bankruptcy-court-ordered-sale-of-vacant-land-zoned-rc-in-burtonsville-md-ideal-for-sf-development/

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