Padre Island Schlitterbahn to remain in operation after IBC purchase

Corpus Christi’s Padre Island Schlitterbahn Riverpark and Resort will open Memorial Day weekend, despite being sold at auction Tuesday morning.

Their only bidder was IBC, who bought the water park and its 203 surrounding acres for $20 million.

IBC was the bank that foreclosed on the property for nonpayment of loans from Upper Padre Partners, the developers that built the water park.

So what does

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