$12.5 Million – Resort and Real Estate Development, West TX:

 

This very complex transaction involved providing bridge funding for a hospitality and resort property with a championship level golf course and airstrip plus over 20,000 acres of very unique land for development opportunities.  The bridge loan’s purpose is to provide the owner and management of the property adequate time to determine the optimal financing and restructuring option without being rushed to a rapid decision because of cash flow concerns.

 

$10 Million – Land for Development, Big Island, Hawaii:

 

This loan is on a beautiful, nearly 1,000 acre parcel of ocean-view property that was recently purchased adjacent to several resorts on the Big Island of Hawaii.  There were numerous title issues very specific to Hawaii and it’s rich cultural heritage, however, PAF was able to quickly move through and resolve these items.  The two-year loan both provides enough capital, and an adequate time frame to allow the principals to obtain the necessary subdivision permits and to begin constructing infrastructure on the land.

 

   $4 Million – Drug Treatment Facilities, Northwest Minnesota:

 

This loan is on two facilities: 1) an in-town 100-bed facility which provides housing and services for state-sponsored treatment participants; and 2) a lake-front facility which provides treatment for higher-end private care participants.  The first facility supposedly had strong operational cash-flows, but this was not immediately evident because operating cash was continually being drained by inefficient and excessive financing costs, coupled with the significant costs of renovating the second facility.

 

This deal required as much expertise in corporate finance and accounting knowledge, as in real estate lending, but PAF was able to develop a deal structure that allowed the strong operating cash flows to resolve all the other issues of the deal.

 

   $1 Million – Three Mixed-Use Properties, Hartford, CT:

 

This loan is on three properties in Hartford, CT.  The loan allowed the principal to resolve problems with the prior lender and to catch-up on property taxes caused during a problem with a large, former tenant.  Now all properties are cash flowing solidly and all current obligations are being met.