Colebrook Financial Company, specializing in making loans to timeshare resort operators, says they were able to re-finance a $7.5 million loan to Festiva Resort Group, LLC, by offering a very competitive fixed rate.
“We very much appreciate working with Colebrook to lock in our margins to refinance a portfolio that was associated with our earlier acquisition of the Kosmas Group International properties,” says Festiva’s President Herbert (Butch) Patrick. “Colebrook has been a solid company with which to work since 2003 when they lent us our first million.”
“We’re pleased to continue to expand our lending to Festiva,” said Colebrook’s Bill Ryczek. “We’ve worked with the management team there for well over a decade, and it’s a good, comfortable relationship. One of the things I’ve always enjoyed about lending is watching customers grow and evolve, and it’s been great having a front row seat as Butch Patrick and his staff have gone from a two-man show and a marketing company to a dynamic multi-division company.”
About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for small and mid-sized developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.
About Festiva Development Group, LLC
Festiva operates boutique interval ownership resorts, cruise club destinations, and an adventure club in the United States and the Caribbean. Festiva was founded in 2000 and is located in Orlando, FL.