My friend is a developer whose next project is A&D of a resort town in Costa Rica. He has attained flags, LOIs for financing, and letters of interest for equity partners from several different partners. We feel that a letter of commitment is definetely attainable from the parties involved.
He has shown interest in waiting just a little bit longer on taking the offer for the equity investor. The project is very extensive with all approvals, an SA corporation, and so on and so forth. And the developer has an open mind.
Whom may consider issuing a junior loan of $5MM for this project?
The total cost will be 200M-300M over 8 phases and 10-15MM has already been deposited into an escrow account.
<snip>
Thank you.
Full Version: Costa Rica Resort
QUOTE(Commercial Loans for Sale @ Sep 22 2006, 07:16 PM) 
My friend is a developer whose next project is A&D of a resort town in Costa Rica. He has attained flags, LOIs for financing, and letters of interest for equity partners from several different partners. We feel that a letter of commitment is definetely attainable from the parties involved.
He has shown interest in waiting just a little bit longer on taking the offer for the equity investor. The project is very extensive with all approvals, an SA corporation, and so on and so forth. And the developer has an open mind.
Whom may consider issuing a junior loan of $5MM for this project?
The total cost will be 200M-300M over 8 phases and 10-15MM has already been deposited into an escrow account.
Please post responses or feel free to email me at ryan.burns@hotmail.com.
Thank you.
Im not quite understanding the numbers. If you have an equity person in place why would you need any further funds? Are you needing more equity on top of the equity offered?
zachj:
We have not received interest in attaining a junior loan yet. The loan will need about 1-2 more months in order to close. Our first preference is to locate a private lender and then, Our 2nd option is to go with an equity investor (instead of an equity lender).
We prefer an equity lender as we already have located equity investors.
What type of information might a lender like this typically request? I am looking for assistance or direction to the right parties.
We have not received interest in attaining a junior loan yet. The loan will need about 1-2 more months in order to close. Our first preference is to locate a private lender and then, Our 2nd option is to go with an equity investor (instead of an equity lender).
We prefer an equity lender as we already have located equity investors.
What type of information might a lender like this typically request? I am looking for assistance or direction to the right parties.
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.