The middle of the summer is here.
Star Resort Group has news:
1. The principals of SRG, Rich Feldheim and Carl Berry, have
agreed to separate and pursue their own projects.
2. SRG is now a Montana LLC solely owned by Carl Berry.
3. SRG is in the process of terminating its partner position in
Seahorse Beach Club due to differing goals to pricing and absorption.
4. SRG is closing in on two major projects: Burnt Mill in
Southern Maine, a mixed-use, residential, rental and fractional community of
some 173 units, and Crystal [new name TBD], a high end PRC + mixed-use
residential on Marathon Key, Florida.
Both of the new deals have had a protracted birthing
process. Financing has been key to both, but that is well underway.
It used to be that Star was paid to come into a project.
Since 2008 and the recession it seems that Star has to contribute to be in the
‘deal.’ That’s been a drag on the company’s finances.
Our crack team: Scott Tracy, company broker and senior
administration exec, Chris Cannon, our top marketing exec, and Richard
Korowicki, our senior sales exec, are all ready to go on the new projects.
2016 will be the year the company makes money; first since
2007!
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