Bhelm LLC offered the highest bid – more than $5 million – for Widgi Creek Golf Club Wednesday in a private auction in Portland.

The sale of the course will likely close on Dec. 29, when the bankruptcy court is expected to issue its approval.

Barry Helm, who is from Camas, Wash., and also owns a home in Sunriver, is the principal member of Bhelm LLC.

Helm outbid members of Dutch Pacific Golf LLC during the hour-long, oral bid offering to pay $5,000,500 for the course.

Dutch Pacific’s final bid was just over $4,995,000, according to Peter McKittrick, attorney for the bankruptcy trustee in charge of the Widgi Creek case.

The liens on the property alone total $3.7 million, and will be paid from the sale of the property, McKittrick said.

The rest of the money will be used to pay off unsecured creditors and any remaining money will go to the original owners, Widgi Creek Golf LLC.

Helm said he was not yet ready to comment on the outcome of the auction Wednesday morning.

Earlier this month, Helm told The Bulletin that if he was successful in acquiring the course he would relocate to Bend.

One of the agreements written into the sales transaction was the buyer would assume all membership agreements and personal property leases.

McKittrick said that the bankruptcy court also approved the stipulation, so existing Widgi memberships will be honored.

The outcome of the auction and the news that members would retain their previous golf privileges was welcomed by Widgi homeowners and members.

”For the most part, I believe that members and homeowners are happy to have resolve,” said John Merrifield, a homeowner and member of Widgi Creek. ”The amount of the bid would imply some enthusiasm on the part of the new owner and potentially an exciting new page for the golf course.”

Merrifield added that he is looking forward to having a local owner and he is already getting ready for spring when the golf course is expected to reopen.

”I think it is very hopeful for the golf course,” said Kiefer Tobin, a homeowner at Widgi Creek.

Tobin was also glad that the course had been winterized after it closed earlier this year.

Don Bauhofer, a local developer and member of LBLM Investments LLC, had initially expressed interest in taking over the course after buying the more than $3 million bank note owed to General Electric Capital Corp.

LBLM Investments had the course winterized but decided not to pursue purchasing the course once bids were placed.

”We decided we wouldn’t chase after it once it was clear there was a legitimate bid,” Bauhofer said Wednesday.

The bank note and costs of winterizing the course will be paid back to LBLM Investments through the proceeds of the sale.

The initial public auction of the golf course was scheduled for mid-October, but was canceled when Dale Bernards, one of the owners of Widgi Creek, interrupted the sale to announce that Widgi Creek Golf Club Inc. had filed for Chapter 7 Bankruptcy.

The property was originally up for auction because Widgi Creek Golf Club Inc. could not pay the more than $3 million loan owed to General Electric Capital, or nearly $120,000 for unpaid tax escrow payments and late charges.

In March, the Deschutes County Court put the golf course under the operation of a third party.

By mid-October, the golf course was closed because of the bankruptcy proceedings.