South Carolina Golf Course Gets Makeover With $1.5 Million Loan From KSI Capital
PARAMUS, NJ, November 3, 2005 -- An existing 18-hole golf course across 400 beautiful acres in Manning, South Carolina, is getting a new management team and an expansion and makeover, all due to a $1.5 million loan from KSI Capital Corp. KSI is based in Paramus, New Jersey, and the transaction represents another successful loan for this busy and rapidly-growing direct private lender.
The Bear Creek Plantation at the Royal Oaks Golf Club features a fully-operational course, considered one of Clarendon County's finest. The course was designed by James Goodson and Earnest Wallace, has excellent elevation and is surrounded by native foliage. The new owners, NextGen Construction, plan to extend the appeal of the club by adding tasteful residential properties to the property, many with outstanding views of the fairways and greens. The course will also be enhanced and improved, offering even better play to avid golfers, and with the addition of homes will become a true live-and-play destination. Residential golf courses have been enormously popular for some time and the transformation of Royal Oaks will be a boon to the entire area.
Garret Wyman, Managing Director of Remington Financial Group, was the broker for the deal. "It was great working with KSI,â€ he remarked. "One of our principal buyers had a relationship with some of the people at KSI, and he believed they could come through with a bridge loan when we needed it-- and that's exactly what took place. They were very professional and put a lot of effort into making this happen, working through issues with the borrower prior to closing."
Henry Haskell, founder of KSI Capital, took a personal interest in seeing the $1.5 million loan come to fruition. "Our goal is always to deliver the financing and to do so quickly, and if that requires hands-on involvement, then we get on a plane and make sure we're there to contribute. Part of the business of creative financing is exploring all the aspects of a potential transaction, and then finding the time and energy to see it through. We're delighted to assist NextGen Construction in what will surely be a successful expansion and refurbishing of this classic golf course and community."
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, 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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