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For immediate release:
We are pleased to announce that one of our investor groups have recently
completed phase one of their Investment Fund. As of May 1st 2005, they will be
actively and aggressively seeking projects in the following market channels:
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High end Single Family Home
Developments with Golf Course component attached
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Resort properties with golf course
component attached
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Existing golf properties (minimum 3
years of operations) that either need to be turned around, refinanced, or
liquidated
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Mid to high end master planned
communities with golf component attached
General loan parameters:
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Location: US, Canada (except Quebec),
Mexico, Caribbean
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Minimum loan: $5M Maximum Loan
(internal loans): $20M Maximum loans (syndicated):$75M
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LTV: The lesser of 70% of actual cost
or 70-75% of appraised value
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Term: 5-20 years Amortization: 5- 20
years
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All of the above is subject to the
financial strength of the borrower and subject to due diligence
In addition, we are entertaining bridge
loans in the US, Mexico, and Caribbean under the following conditions:
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Minimum loan: $500k Maximum Loan: $5M
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LTV: No more than 50% of the orderly
liquidated value of collateral which must be real estate (preferably
improved), verifiable financial instruments (subject to review), or verified
cash backed securities.
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All bridge loans will require personal
guarantees and possible cross collateralization of assets
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