KSI partners with international investor group on monumental mixed-use project in Moldova
Paramus, New Jersey, February 26, 2009 -- Having a knack for finding rare and unusual opportunities in unlikely locations, KSI is at again—this time in Moldova. While most Westerners would have difficulty finding the little known country on a map (It’s a landlocked country in Eastern Europe, bordering Romania and Ukraine. It declared its independence in 1991), KSI representatives and advisors have been spending quite bit of time there, working out details on one of their biggest endeavors to date.
Working with a multi-party investment group, plans are well underway for an enormous residential and shopping complex, complete with underground parking. On the site of a former automotive repair station in Chisinau (Moldova’s capital and largest city), the 14.573-acre property is strategically located near a bus station and major roadways that connect several urban areas in Moldova. The majority of the project will comprise residential development, which will account for 1,590,260 replica hermes bags square feet. The commercial and shopping area will encompass 32,291 square feet. A 9,902-square foot on-site school will also be included in the project.
Moldova: The moment is right.
Large-scale opportunities such as this are extremely rare in crowded overdeveloped nations. Moldova remains largely undeveloped. Among the poorest countries in Europe, the Moldovan economy is less complicated than the economies of more developed countries. It is also less affected by the current global financial turmoil. While Moldova’s GDP is low, in proportion, its debt is remarkably lower than other nations.
“Right now, the simplicity of the economy in Moldova is working in favor of investors and developers,” remarked David Haskell, Vice President of KSI Capital. “Because it hasn’t undergone the turmoil of so many other international economies, it presents an attractive, stable opportunity. Our research, prep work and planning are all in place—when the time is right, we’re ready to build…not months or even years away like those playing catch-up ball.
KSI saw the opportunity to establish relationships early in this still-emerging nation. Government plans call for continued large-scale development, but with strict regulations in place with regard to environmental, technological and open space concerns. Early involvement and understanding of these parameter positions KSI and its partners well for making the most of these opportunities.
KSI Capital Corporation’s ability to make loans with speed, honesty, integrity, 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.