Schlitterbahn sold to IBC bank

Posted at 10:37 AM, May 01, 2018
and last updated 2018-05-01 11:37:06-04

Schlitterbahn Riverpark and Resort Corpus Christi has been sold to IBC Bank for $20 million. 

Based on outstanding loans IBC had granted Schlitterbahn, it was up for auction for $30 million.

A representative for IBC made the bid, and says the bank will be coming out with a statement at a later date.

Another bank that granted loans to Schlitterbahn, Axys Capital, was at the auction to observe.

 A legal representative for the city and several Padre Island land owners were also present.

This is a developing story and more information will be reported as it becomes available.