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Colebrook
Finalizes a $10MM, Fixed Rate Loan to Starpoint
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Middletown,
CT – February 2015 / Newsmaker Alert / Colebrook
Financial Company, which provides receivables financing for timeshare
resorts/vacation ownership companies, announced they are providing a $10
million receivable traunche, fixed-rate refinancing loan to Starpoint
Resort Group, Inc. Starpoint, a subsidiary of BQ Resorts LLC, is the
developer of Sapphire Resorts which is a multi-site timeshare club comprised
of 21 resorts based in Las Vegas, Nevada.
“We
have enjoyed having a long and stable relationship with Starpoint,” says
Colebrook Financial Principal Bill Ryczek. “This will be our eleventh year
to provide end-loan receivables financing for them.”
“Colebrook
has always been a supportive and creative partner to us,” says Starpoint
CEO Mike Muldoon. “Their business philosophy is similar to ours; we strive
to deliver an excellent product and to exceed customer expectations. Over
the years, we’ve witnessed this attitude in the professionals at Colebrook;
they are always accessible and collaborative.”
About
Colebrook Financial Company
Colebrook
Financial Company is a lender specializing in the timeshare/shared
ownership industry, providing hypothecation and other financing products
for developers in the US, Mexico and the Caribbean. Colebrook is large
enough to provide financing in the $20-30 million range but small enough
to deliver a unique brand of personal service. For further information
call Bill Ryczek at 860-344-9396.
About
Starpoint Resort Group
Starpoint,
a subsidiary of BQ Resorts LLC, is the developer of Sapphire Resorts which
is a multi-site timeshare club comprised of 21 resorts based in Las Vegas,
Nevada. The company is active in all facets of the hospitality industry
including resort development, property and resort management, sales and
marketing. They manage four timeshare clubs, 21 timeshare resorts, several
condominium projects and the vacation interests of approximately 50,000
owners throughout Canada, the U.S., the Caribbean and Central America,
in addition to well scaled sales and marketing operations which grow both
the platform and scale of members to be serviced.
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About
BQ Resorts LLC
BQ
Resorts, a privately held company, is focused on the timeshare/hospitality
space and owns companies including Starpoint Resorts, GeoHoliday Club,
GetAways Resort Management and Sapphire Resorts. Leveraging its strategic
partnership with TZP Group, a New York based private equity firm, it continues
to expand its core business platforms through organic growth and strategic
acquisition. Under its ownership umbrella are four timeshare clubs, 22
resorts under management, two resort and property management companies,
an active sales and marketing company, and approximately 50,000 timeshare
members throughout Canada, Costa Rica, the U.S. and the Caribbean.
Media
Contact:
Sharon
Scott, RRP
SharonINK
PR & Marketing
for
Colebrook Financial Company
310-923-1269
Contact:
Starpoint
Resort Group Inc.:
Alan
Dickler, COO |
