Sponsors seeking $18M bridge loan secured by NC Golf Club & Resort (As-Is Appraisal $44M July 2013)

North Carolina residential/resort golf community (an hour from the Charlotte airport) suffered distress during the recession and original owners have become exhausted with project. It has over $70 million in infrastructure and construction costs already invested in it.

Sponsors, with experience in large-scale mixed-use urban and suburban developments, are acquiring all assets (4600-acre property with approximately 1,500 developed acres and 3,100 acres to be developed) and revitalizing development, which includes a 5-star Radisson Blu. Seeking bridge loan of $18M collateralized by property (as-is value of $44M from July 2013 3rd-party appraisal) to pay off a bridge loan and finance sales and marketing.

Term and rate expectations for $18M bridge loan: 1-3 years, 11% annual interest pre-paid at closing. 2 points paid at closing to lender.

Sponsors are quickly looking for a fairly strong LOI, contingent commitment letter, or some other indication of interest.

Summary and details available upon request.

Thank you,

Tony Phan
Next Realty Capital

Views: 233

Replies are closed for this discussion.

Replies to This Discussion

Tony,

We can help.  Please send an executive summary to Walexandre@masseigroup.com

Regards,

Nengi

Mr. Phan:

Please forward the Executive Summary. Primetimefinancialconsultants@gmail.com

I have numerous lenders willing to fund this deal. With email please provide phone number.

Ann O'Rourke

Primetimefinancialconsultants

603-560-4398

Mr. Phan,

Please email executive summary to email below.  I would appreciate the look.

Thank you.

Jared Rine

209 481 0514

jared@glblsolutions.com

Tony,

Please email a summary of the transaction to me at mdeibel@knightheadfunding.com.  I am a private equity lender based in Stamford, Connecticut and this sounds like it may fit our criteria nicely.  You can reach me at (203) 327-3327.

Best Regards,

Max

Appreciate all the responses.
Will close the discussion as it is no longer needed.

Thanks,
Tony

RSS

© 2021   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service