Catching Up with Carl: February 2015

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?