MARTINSVILLE, NJ, Dec. 30, 2009 — The following commentary is offered by Ken Schapiro, President of Condor Capital:
Despite the disturbing ski industry news last week that resort operator Intrawest ULC had missed a debt payment on a $1.4 billion loan, the ski business is holding its own in the midst of nationwide travel revenue declines. [...]
December 28, 2009 — According to a recent SEC filing, Boca Raton, FL-based Bluegreen Corp. has received a 45-day extension on a pair of loans with Wachovia Bank that were due to mature on Dec. 15. The loans comprise a $10.5 million loan on its Patrick Henry Square resort in Williamsburg, Va., and a $15.7 [...]
Wellington Financial Reveals Details About Liberty Bank’s Loan to Vermont Timeshare Resort Developer
Charlottesville, VA, December 18, 2009 – Wellington Financial, the exclusive Resort Finance lending correspondent for Liberty Bank, is pleased to announce the bank has closed a $10 million receivables hypothecation facility with Smugglers’ Notch (www.smuggs.com) in Vermont.
“The facility will be used to finance [...]
-by TS Newshound
Central Florida, December 16, 2009 — According to published reports, Westgate Resorts’ David Siegel has put the 1,273-acre Grenelefe Golf & Tennis Resort in Haines City on the market again. Marcus & Millichap Real Estate Investment Services listed the Polk County property for sale on Dec. 11.
Siegel purchased the once-famous resort at auction [...]
SAN FRANCISCO, CA, December 15, 2009 — Wells Fargo & Company (NYSE: WFC) announced it will combine its asset-based lending units as Wells Fargo Capital Finance. The new organization will include the business units of Wachovia Capital Finance, Wells Fargo Business Credit, Wells Fargo Foothill, Wells Fargo Retail Finance, and Wells Fargo Trade [...]
ORLANDO, FL, December 12, 2009 — Ultimate Escapes, Inc. (NYSE Amex: UEI and UEI.WT) (“Ultimate Escapes” or the “Company”) announced that on December 7, 2009, it received notification from NYSE Amex LLC indicating that NYSE Amex intends to file a delisting application with the Securities and Exchange Commission (“SEC”) to remove the Company’s units, warrants [...]
WHITE PLAINS, N.Y., December 11, 2009 — On December 10th, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) completed a securitization involving the issuance of $166 million of notes by SVO 2009-B VOI Mortgage Corporation. Starwood contributed approximately $200 million in timeshare mortgages with an 83% advance and note rate of 5.81%. Starwood expects that [...]
-by TS Newshound
Las Vegas, NV, December 4, 2009 – In June, 2007, Consolidated Resorts’ CEO Arthur Spector cut a deal with Goldman Sachs Group affiliate Whitehall Street Real Estate Funds. Under that deal Whitehall’s most recent fund, Whitehall Street Global Real Estate Limited Partnership 2007, made a substantial investment in the parent company of Consolidated, [...]
New York, December 4, 2009- According to a presale report issued Dec. 1 by Standard & Poors, Starwood Vacation Ownership VOI Mortgage Corp. is coming to market with $166 million in vacation ownership interest loan-backed notes Series 2009-B. The deal is expected to close this week, and may have already done as this post goes [...]
MIAMI, FL, November 2, 2009 –Interval Leisure Group (NASDAQ:IILG) will host an Analyst Day on Thursday, December 10. The meeting will be held from 9:00 a.m. to 3:00 p.m. at the Miami Marriott Dadeland, with institutional investors and financial analysts expected to attend. Presentations will be given by key executives including Craig M. Nash, chairman, [...]
