KSI Capital Up Palm Springs With $2.5 Million Land Loan In 72 Hours
PARAMUS, NJ, November 3, 2005 -- Henry Haskell and KSI Capital have seen it before. A borrower needs a multi-million dollar loan in 3 days and can't come up with a lender who can deliver.
That's just the kind of loan Henry Haskell wants.
A 20-year veteran in the direct lending industry who has closed over a billion dollars of loans in all corners of the globe, Haskell was all ears when Indigo Lake, LLC of Desert Hot Springs, California called to say an equity partner pulled out of a deal at the last moment. He knew that The City of Desert Hot Springs, one of the fastest growing areas in Southern California, was undergoing explosive growth in the housing market with 15,000 units in various stages of planning or construction.
The borrower, who entered into contract to purchase 80 acres in June 2004, was on a tight deadline - they urgently needed the $2.5 million in 3 days.
The funds will be used to develop the 80-acre tract located along Indian Avenue, which is the center of both existing commerce and new development in Desert Hot Springs. Near the Town Plaza and dotted with lakes, the land is capable of
supporting 230 single-family lots, along with acreage remaining for retail and commercial development.www.replicabagsale.com
The buyers have been assiduous in recent months in preparing the land for further development. Extensive site plans, environmental studies, traffic analyses and the like have been completed or are in progress, in order to fulfill all local ordinances.
"When we consider a loan, we share the vision of our borrowers,' says Henry Haskell of the Paramus, New Jersey-based lender. "The Palm Springs area is hot, so we knew we had to speed up the due diligence process in order to make this deal happen"
Adds Jack Dilemme of Indigo Lake, LLC, "When our equity partner pulled out at the last moment, we had to turn to a lender that could deliver â€“ without the red tape and no excuses. We called David Haskell of KSI Capital on Friday and together with his father Henry, they worked tirelessly over the weekend and closed by Wednesday.
"That's the kind of lender that you can count on when time is of the essence, he says."
From across the country, a broad-section of borrowers are responding to KSI Capital Corporation's ability to make loans with speed, honesty, integrity, and professionalism. As a company with extensive experience in both the lending and real estate industries, KSI specializes in the unique and/or unconventional loan, Replica watches paying particular attention to the specific needs and circumstances of the borrower. KSI uses generous loan-to-value ratiosâ€”up to 70%â€”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.