Charlottesville, VA (January 30, 2015) — According to Wellington Financial, Liberty Bank recently announced their Resort Finance division had extended their lending relationship with Breckenridge, Colorado-based timeshare developers, Breckenridge Grand Vacations, with an additional $25 million loan to Peak 8 Properties, LLC.
“We’ve been very pleased with the performance of Breckenridge Grand Vacation’s portfolio over the years,” says Liberty Bank Vice President Denise Brewer. “Their latest expansion adds another component to their already rich resort offerings. The company’s high standard is evident in all they do.”
According to Ron Goldberg who is president of Wellington Financial, the exclusive Resort Finance lending correspondent for Liberty Bank, “The Breckenridge Grand Vacations team has demonstrated a fantastic track record in developing, marketing, selling and managing their resorts. We are very impressed with their latest addition, the Grand Colorado on Peak 8, another ski-in, ski-out resort.”
“Liberty Bank and Wellington Financial have been great partners for us,” says Mike Millisor. “Their strong work ethic, approachability and dedication to customer service mesh well with our own philosophy of doing business. We are pleased to have developed a solid relationship that I am sure will continue for many years.”
About Liberty Bank
Established in 1825, Liberty Bank (www.liberty-bank.com), based in Middletown, Connecticut, is that state’s oldest mutual bank, with more than $3.2 billion in assets. Liberty Bank has been actively lending to the timeshare industry throughout the U.S. for over 30 years. The bank’s commitment to superior service has resulted in lending relationships with some of the industry’s largest and most successful developers. Member FDIC. Equal Housing Lender.
About Wellington Financial
Wellington Financial (www.wellington-financial.com) is the exclusive Resort Finance lending correspondent for Liberty Bank and specializes in lending to developers of timeshare resorts, fractional resorts and retail land. Founded in 1981, the finance and service company offers a full range of products, including receivables hypothecation, purchase and conduit facilities; pre-sale and working capital lines of credit; acquisition, construction and renovation financing, as well as mezzanine and equity debt financing. President Ron Goldberg serves on the Board of Directors for the American Resort Development Association (ARDA).
About Breckenridge Grand Vacations
Founded in 1984, Breckenridge Grand Vacations creates great vacations for more than 20,000 owners. In addition to the Grand Colorado on Peak 8, the developers, brothers Mike and Rob Millisor, along with Mike Dudick, have built Gold Point Resort, Grand Timber Lodge and the Grand Lodge on Peak 7 in one of North America’s premier destinations for skiing, hiking, biking and other activities. Breckenridge Grand Vacations offers luxurious accommodations, including everything from studio to 4-bedroom units; easy access to 2,900+ acres of the Breckenridge Ski Resort, two day spas; movie theaters; heated indoor and outdoor pools; fitness facilities and two restaurants. Owners can stay at their home resort or may exchange their time in over 2,000 resorts through Interval International. Additionally, the resort’s unique ownership plan enables owners to access the resorts’ amenities 365 days per year.
PRESS RELEASE SOURCE: Wellington Financial
Media Contact for Wellington Financial:
Sharon Scott, RRP; SharonINK PR & Marketing