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February 19, 2021

Enfield private equity firm auctioning off an entire amusement park

Photo | Contributed Enfield private equity firm Capital Recovery Group is auctioning off this entire amusement park in New Jersey.
By Liese Klein

An Enfield private equity firm is offering an usual property for sale at auction: an amusement park with a water park and private lake in New Jersey.

Capital Recovery Group (CRG), at 1654 King St. in Enfield, announced this week it is auctioning off Clementon Park and Splash World in Camden County, N.J., just south of Philadelphia.

The closed-down park is set to be auctioned in its entirety, but if no bidders emerge, assets like the land, equipment, rides, buildings and liquor license will be sold in pieces, according to 
CRG President Bill Firestone.

“We are actively seeking a buyer for this iconic park located outside of Philadelphia and expect significant interest in the auction,” Firestone said. The property includes a 25-acre lake, dam, amusement rides, a water park and full liquor license.

Clementon Park opened in 1907 as a “trolley park,” designed to boost transit ridership on weekends and provide entertainment for city-dwellers. The park closed down in 2019.

Rally Capital Advisors, named as receiver by a judge in January, hired CRG to sell the park either as a single unit or in pieces. Bids will be taken March 23, 2021, with inspection available March 19. Interested bidders can register on CRG’s website.

CRG specializes in distressed assets, including “complex scenarios comprised of industrial assets and real estate,” according to a company statement. The firm has been involved in recent years in liquidations at the former Bristol-Myers Squibb complex in Wallingford, a hummus plant in Massachusetts and a 110-acre pharmaceutical manufacturing and packaging campus in Alabama. 


 

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