Remote Location, Difficult Conditions No Problem for KSI. They Close $7 Million Loan in ‘Undiscovered’ Mexican Paradise.
PARAMUS, NJ, September 18, 2007 — The right idea. The right setting. The wrong lenders. That was what Campos Diaz and Associates were up against when they sought a loan to acquire land in a beautiful, but relatively unknown part of Mexico. Until KSI Capital of Paramus, NJ came through with a $7 million loan to keep the purchase and the project on target.
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Strategically located on the Pacific coast, roughly halfway between Acapulco and Zihuatanejo, San Jeronimo is the municipal seat of the Benito Juarez municipality in the Mexican state of Guerrero. While nearby areas (Acapulco, Zihuatanejo, Mazatlan and Puerto Vallarta) are already commonly known as the “Mexican Riviera,” the San Jeronimo area is quietly being touted as the next gem in Mexican tourism—one that has yet to truly be discovered. Seeing the potential in the land took some creativity. Juggling the collateral to get it just right took some patience. But in the end, it was KSI’s in-depth knowledge of the Mexican real estate market and confidence in the borrower that closed this complicated deal…and did it quickly.
“To begin with, the property was extremely remote. Most lenders wouldn’t have even taken the helicopter flight out to inspect it,” says David Haskell, Vice President of KSI. “The truth is, it was a little too remote, and they
Louis vuitton outlet just weren’t that interested in taking a look. But we came directly to Mexico from looking at another deal in Europe. We knew the borrowers were under the gun, and we also knew Mexico. What could have taken others more than a week, we accomplished in just two days.”
The complications didn’t end there. Land that was to be used as collateral changed—several times. Again, circumstances that would have sent other lenders running, kept KSI coming back, re-evaluating the land and listening to all the details. In fact, KSI’s hard work and diligence paid off doubly, as they were able to increase the value of the loan based on a final inspection. KSI was able to close the deal in just five days at nearly double the original value.
And it wasn’t over even yet. KSI was put through one more test. Last minute issues that arose during the Mexican closing threatened the entire deal. Working through the day and into the night, the team was able to resolve the issue and the deal was completed.
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.