After the drought, 'deals' seem to be everywhere. What a
welcome change. Let's take a look at what we have and what we are working on:
Under Development:
Seahorse Beach Club, on the Gulf outside of Houston. To
what extent will the falling oil prices affect our market? Yet to be
determined. Certainly, the petro-chemical giants in our area will prosper due
to lower oil prices. But, the Houston market? Let's hope that with their
reliance on medicine and energy, the former will pull us through with good prospects.
Going After:
Florida Keys Resort: Writing this newsletter, I am
returning from Florida where our team made a presentation to the resort owners,
Index Investing, a Swedish company that invested heavily in the Southeastern
USA. We hope to score a marketing and sales contract for this Marathon Key project.
Crystal Resort: Also on Marathon, this resort will
feature a Marriott Residence Inn and 13 fractional cottages on the Gulf. We
have a signed marketing and selling agreement, and now need the financing for
the hotel and cottages. We have the prospect of an additional eight cottages on
an adjacent parcel to Crystal.
Burnt Mill: Located in Wells, ME, and named for a mill
the local Indians burnt in the late 1600s, this mixed-use project will include
lots, homes, fractional homes and duplexes, golf course and a fully amentitized
resort. We are lining up financing for the three component parts: the golf
course [tough], the real estate and the hospitality operation for some
site-located B and Bs and rental homes all designed to generate traffic and
income. We plan to work with Connor Homes, a terrific modular company out of
Middlebury, VT. Also, it's in the plans to acquire an existing B and B in Wells
Beach for cash flow and as a 'forward station' to the use of Burnt Mill owners
some three miles away.
Looking At:
Big Bear Lake, CA, an existing lakefront resort, fully
entitled for lot, condo and fractional sales.
Sunset Blvd, LA, for condos and fractional sales. Back to
the urban market.
Bear Valley Ski, CA, for Village planning and financing.
Telluride, CO, for bulk sale of fractional
interests.
New Orleans, again, still after Square 97 and another
property for retail, commercial, condos and fractions.
Heck, if just a couple come to pass, not bad?
