Costa Rica Residential Oceanfront ConstructionLoan

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alig

10 Posts

Posted - 07/28/2008 : 7:39:56 PM

A friend of mine is looking to secure a $2.5M line of credit for the development of a hi-end oceanfront residential community adjacent to few of the luxury up and coming resorts (i.e. Steve Case’s Exclusive Resort and the 6 star One & Only Resort and golf course) in the Papagayo Peninsula.

He already has 7 units pre-sold and all the important permits in hand (i.e. SETENA/environmental and municipality). The project construction time-line is from Nov. ‘08 (ground breaking at the end of rainy season) and is expected to last 18-20 months. He is looking to use the land and the existing contracts as collateral. Duration of the loan is no longer than 24 months.

If you can assist him in his search, please contact him directly at mtamami@tamcodevelopment.com or U.S. Cell (202) 415-7652; C.R. Cell +506-8868-1045.

ddmortgage

266 Posts

Posted - 07/29/2008 : 07:48:29 AM

I would be interested in this loan, I am doing one in costa rica right now and it is not as strong as yours. email me and we can speak about this in more detail.

EMScommercial

4700 Posts

Posted - 07/29/2008 : 07:52:26 AM

how many total units? when you say 'presold' - what percentage of each unit does he have? is it hard? what does he currently owe? 24 months may be stretching it a bit.... does he realize this will be pretty darn expensive money?

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