D&RGRHF/Creede Branch--For Sale/Closing

LeoA · **Joined:** Mon Sep 28, 2015 12:30 am **Posts:** 312

The update says that foundation president Donald Shank contacted them to inform that the line is "not yet officially for sale" and that "it's being discussed, but that no definitive decision has been reached".

He finished by stating that the decision on selling the line will be made soon.

Trainlawyer · **Posted:** Wed Dec 09, 2015 5:02 pm

Interesting - An associate of mine was sounded out back in October about a possible purchase. While that may have been simply a testing of the waters it does show that there in some interest somewhere in a possible sale. It also sounds as though there may be a 'Who's in charge here?' question. If so, It would have to be resolved prior to any sale of the property. Then there is the problem of finding a sufficiently sophisticated buyer who both understands the financial risks involved and has sufficient wherewithal to both capitalize the operation which he has in mind and to sustain what may well be an extensive period of negative cash flow.

GME

LeoA · **Joined:** Mon Sep 28, 2015 12:30 am **Posts:** 312

Trains Magazine reports that it's officially for sale.

Quote:

President Don Shank of the Denver & Rio Grande Railroad is on the phone these days telling disappointed customers the Colorado tourist hauler is for sale and probably not operating an eighth season.

"We're in limbo for the 2016 season," Shank tells Trains News Wire. "I would say at this point it doesn't look good, but that could change."

Trains News Wire first reported in December that the scenic and historic 20-mile line along the Rio Grande from South Fork to near Creede might be on the market. Now Shank says the small board of directors of the parent Denver & Rio Grande Railway Historical Foundation, which includes his brother Robert, has made it official.

The asking price: $3 million.

http://trn.trains.com/news/news-wire/20 ... d-for-sale