The dream of an incredible Mexican coastal community becomes reality…with a $20 million loan from KSI.
Paramus, NJ, Dec. 07, 2006 - Colima, Mexico It was to be the most expansive, most impressive and most visible tourism project in the Mexican state of Colima…yet the complexity of the loan that was needed almost kept this dream development on the drawing board.
Situated on 530 acres overlooking the magnificent Santiago Bay with a half-mile of beachfront, the multi-phase plans for Cascadas de Manzanillo were ambitious…and awesome—a master-planned gated community, the likes of which the area had never seen Replica Watches. When completed, it would feature a luxury resort, custom villas ranging from two to five bedrooms, a beach club (with a trail system, athletic courts, fitness facilities, and water sport rentals), restaurants, extensive retail space, parks and more—all in one incredible project,. But the developers needed capital—quickly—to make their vision happen. Complicating matters even further, legal issues and local bureaucratic problems created additional obstacles. In short, it was an extremely complex loan scenario in a foreign country and it scared all lenders away.
All lenders, that is, except KSI Capital of Paramus, NJ. The principals of Cascadas de Manzanillo had worked with KSI Founder Henry Haskell on a previous venture and knew of his reputation for finding creative solutions to loan requests deemed “impossible” by other lenders. They quickly learned that if anyone could make the deal happen, it would be Henry and the experts at KSI. A team from KSI flew out to the property. Collateral would be an immediate issue, as a great deal of the infrastructure was still unfinished. To help kick off sales of the next phase of Cascadas de Manzanillo, a sales and welcome center, model homes, landscaping, lighting and more would all need to be completed.
But KSI saw the spectacular possibilities in Cascadas de Manzanillo, where other lenders couldn’t see past the numbers. KSI saw the potential in this paradise setting: lush home sites, villas created by world-renowned designers, the efforts put into balancing the beauty of nature with this dramatic development and the goal of careful Louis Vuitton Outlet, continued expansion. As a result, KSI was able to provide a $20 million loan to keep Cascadas de Manzanillo right on track.
“In terms of creative problem solving in complicated loan situations like ours, no one can match the expertise of Henry Haskell and KSI,” comments Tim Oliver, one of the principals in the deal. “We had been trying unsuccessfully for several months to secure a loan. With KSI, we had a decision—and the money—faster than we ever imagined. It’s refreshing to work with a lender that understands the business side of things and is truly relationship driven.”
“We go beyond a formulaic approach to evaluating a loan,” explains KSI’s Haskell, “We worked tirelessly to structure a suitable deal for the Cascadas de Manzanillo loan. We also needed to work with local officials, including the Governor of Colima and Secretary of Tourism to resolve the legal challenges and keep things moving along. The importance of the development to the area made the loan even more critical.”
KSI Vice President David Haskell adds, “We immerse ourselves into the process. It’s essential to get a fast, but thorough understanding of the geographic and economic conditions affecting an area to determine the potential of a property Rolex Replica. That’s why the Cascadas de Manzanillo loan is a particularly good example of our creative problem solving capabilities. And because of the depth and expertise of our team, we’re able to confidently make these expert evaluations, and we’re able to make them with unheard of speed.”
KSI Capital Corporation’s ability to make loans with speed, honesty, integrity, and professionalism attracts a broad range of borrowers from across the country and abroad. As a company with extensive experience in both the lending and real estate industries, KSI specializes in the unique and/or unconventional loan, paying particular attention to the specific needs and circumstances of the borrower. KSI uses generous loan-to-value ratios—up to 70%—and can issue a loan commitment and close in a matter of days. Funds are typically requested for commercial property acquisition and refinancing, development and construction, bank workouts, bankruptcies and foreclosures. Loan terms range from 1 to 5 years.
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