Gil Starble
Boston, MA (USA)
Role(s):
C-Level Executive (CEO, CFO, etc.)
Pinder's Development Co., Ltd
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Startup
Location:
Long Island
Industry:
Real Estate
Year Founded:
1979
Number Employees:
1-10 people
Description:
Our firm controls miles of Bahamas oceanfront land valued in excess of $20 Million on an established island known as Long Island. We would like to borrow a bridge loan between $500,000-$1,000,000 to begin land planning.
This substantial land value and an intelligent course of action in our first year will determine a proper exit strategy. The feasibility of many strong development options exist due to the high caliber 'nature' of this asset. This is an asset-based loan. The primary borrower has a substantial net worth, and more specifically, uses 100% of the land capital to secure the interests of the lender.
The borrowing entity is a subsidiary of a family trust that has owned this land for over 100 years. This fact alone necessitates our diligent effort to study the 'Highest & Best Uses' possible, which requires substantial funding: surveys, engineering, Highest & Best Use study, feasibility studies for various land use options, design, regulatory approvals, etc. A sustainable infrastructure is anticipated involving renewable energy equipment, portable water and wastewater filtration plants, and high efficiency building energy systems. Our plan calls for job creation and sustainability in projected P&L as mandatory considerations.
The family trust is also seeking a small percentage of cash out allocation to be used in the initial disbursement.
A private lender who is familiar with the Bahamas would be an optimal candidate for this high yield opportunity.