Diamante Del Mar Scores Much-Needed Funding with $3 Million Loan from
The Next World-Class Golfing Resort Can Now Proceed With 8,000-Acre Development on Pacific Ocean Coast of Baja, Mexico
PARAMUS, NJ, March 3rd, 2006 - Picture an 8,000-acre parcel of native countryside that slopes down to include three miles of spectacular Pacific Ocean frontage, 200 miles south of San Diego, California on the Baja Peninsula. Now imagine a world-class golfing paradise taking shape there, with a Fazio oceanfront course and a Davis Love III oceanfront course offering 36 holes of sculpted excellence. Add a Hacienda compound on 3.5 acres with accommodations for members and guests, with pro shops, suites, villas, restaurants, tennis, swimming pool, fitness center, and more. Sprinkle the surrounding countryside with 175 private residence club villas, casitas, and 300 private residential home sites nestled in the surrounding hills and idyllic, temperate climate. Now include a 6,000-foot airstrip, soon to be designated as an international airport, and you begin to see the dream the owners of Diamante Del Mar were trying to bring to fruition. And all they needed was a relatively small bridge loan to get them to the next stage of development.
That turned out to be a bigger problem than anticipated, however. The loan was offered to a variety of different lenders throughout the continent, and no complications were expected, with such an attractive parcel and project. But, amazingly, after several months, it became clear that none of the lenders was able to get the job done. Against all odds, the dream of Diamante Del Mar was at a standstill.
Which is when KSI Capital entered the fray.
KSI is a commercial real estate development and lending company that specializes in unconventional financing where speed and attention to special circumstances are critical. They, along with a number of other lenders, had their information posted online at George Blackburn's website, C-Loans.com. KSI, however, was the only lender with international experience, and they came to the attention of Diamante. And, after months of getting nowhere, Diamante received a $3 million loan from KSI, and was finally able to re-commence development.
Working with KSI couldn't have been any better, said attorney Bill Najam, a partner in Diamante Del Mar. After we were first in contact, David and Henry Haskell came down and looked at the property in Baja. Within a week, he said they were interested in the loan and, shortly thereafter, we got it. It was a vast relief, after all the waiting and worrying with other lenders.
It was the kind of transaction that we have a lot of experience with, said Dan Haskell of KSI. We specialize in international real estate transactions, and have considerable expertise in that area. And Bill's project had a lot going for it. All of his permitting and environmentals were in place, Phase I of the Fazio golf course and its infrastructure was all set to go. We were happy to lend a hand. Phase I will include the Fazio and Love golf courses, roadway infrastructure, Hacienda compound, landscaping, maintenance facility, desalination plant, and beginning of construction of 20-25 core area villas, and sales of some lots for the private residences, which will be on acre-plus lots with golf course views. Added David Haskell, We look at each loan as a unique entity, and tailor it to meet individual needs. That everyone got along so well, both professionally and personally, speaks well to the level of professionalism on both sides.
The parcel of land itself has an interesting history, according to Najam. It was once ejido land ('common land'), which was agricultural land expropriated by the government from large private holdings and redistributed to citizens for private use, such as communal farms. The land is owned by the government, and the ejido is financed by a special national bank which supplies the necessary capital for reclamation, improvement, initial seeding, and so forth. Diamante Del Mar was able to acquire this land through negotiations with the Mexican government, and currently owns 8,065 acres, with options and plans to eventually own a 10,000-acre parcel.
Bill Najam is relieved to be going forward with Diamante Del Mar's golfing utopia, and very happy indeed to have found KSI. It was a pleasure doing business with the Haskells, said Najam. Henry, Dan, and David were great all the way through Rolex Watch. Our personal relationship was nothing but positive. Whatever they said they would do, they did. Now we can proceed with our plans to build a golf resort that will be in the Top Ten in the world, and be every bit as dramatic as Pebble Beach -- only it'll be in Baja.
Diamante Del Mar is one example in the broad spectrum of borrowers from across the country responding to KSI Capital's ability to make loans with incredible speed and consummate professionalism. 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 makes loans from $1 million to $50 million, with a loan commitment in a matter of days. Specializing in land development and construction, both here and abroad, KSI Capital offers a viable option to what can often be a very expensive equity partner Swiss Replica Watches. KSI is a leader in the private lending industry when a project is in need of fast and flexible funds.