Anchorage, Alaska (September 9, 2019) – Following the results of The Alaska Mental Health Trust Authority’s sealed bid auction, there is an apparent high bidder for the 2.9 acre waterfront Subport parcel located on Egan Drive in Juneau’s visitor industry corridor. The parcel had a minimum bid of $3,634,000, which is the recently appraised value. The apparent high bid, from NCL (Bahamas) Ltd. is for $20,000,000.
Other bidders included:
Royal Caribbean Cruises, Ltd. – $13,000,000
Godspeed, Inc. – $12,800,000
Survey Point Holdings, Inc. – $5,265,000
The City and Borough of Juneau – $4,250,049
The sale was handled by the Trust Land Office, an office within the Department of Natural Resources that manages land assets owned by the Trust. Revenue generated from the final Subport sale will go into the Mental Health Trust Fund. Earnings from the Trust Fund allow the Trust to pay for programs that support Trust beneficiaries across the state. Beneficiaries include Alaskans who experience mental illness, developmental disabilities, substance related disorders, Alzheimer’s disease and related dementia, and traumatic brain injuries.
“The apparent proceeds of the Subport sale will go a long way in serving Trust beneficiaries,” said Wyn Menefee, Trust Land Office Executive Director. “We knew this parcel represented an opportunity to monetize an unique and valuable Trust land asset, and are pleased that our process to determine how and when to sell the Subport has apparently resulted in significant proceeds that will support the work of the Trust today and well into the future.”
Following today’s opening of the sealed bids, the apparent high bidder has 15 business days to make a deposit of 10% of the sale price and complete a purchase and sale agreement with the Trust Land Office.
Allison Biastock, Chief Communications Officer