ACG Companies closes $28M bridge loan

 
 
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Tags:
* Acg
* ACER Capital
* Paul Garcia
* Construction

Industrys:
* Construction
* Real Estate

Location:
* California - US

Oct. 2, 2013 - PRLog -- ACG Companies and its family of funds (ACG) has successfully closed a $28,000,000 bridge loan on 52 acres of prime ocean front real estate mid-way between San Jose and Cabo San Lucas Mexico.  This loan will give the developer, Ignacio Ramirez the time that he needs to start doing the horizontal development on his 400 room golf destination resort in addition to allowing him to get a significant discount on the bank note.

"This may seem like what they call a Hard Money Loan to most at the rate/term that we are getting, but to have a lender step up and do a loan of this size, in a foreign country in less than 30 days, with a bank threatening to foreclose is more than worth the 11% coupon that the borrower was willing to pay. In addition, he was able to save millions from the original bank  note" said ACG Companies Paul Garcia.

"We have some of the most beautiful Ocean front property in all of Baja California. We have spent years in getting the proper documentation in order to accomplish our parents goal  and finishing what they started. Losing the property would have been a devastation to us all after spending the amount of money that we have and all the years that we have toiled. We first started talking to ACG Company Paul Garcia the end of September and they quickly told us that they would be willing to help as long as they could assume the negotiations with our bank, which they did." said, Mr. Ignacio Ramirez of Trinidad Dev.

"Listen, we're not in the business of saving banks or investors of any type that wish to recoup on a bad investment which was the case with the loan made on this property and Mr. Ramirez. However, if we can minimize the amount of money that goes into paying a loan off and maximize the amount that goes into creating even more value to the property...then we're a reasonable solution" said, ACG Companies Paul Garcia.

ABOUT TRINIDAD DEVELOPMENT
Trinidad is family owned and operated development company with developments all over Mexico and Brazil. The company has been in operation for more than 62 years and currently being ran by Ignacio Ramirez as the CEO.

ABOUT ACER CAPITAL GROUP
Acer Capital Group ("ACG") is a global holding company of Private Equity, foreign and domestic Funds in the business of deploying capital. Our Family of Funds have earned the reputation as a premier value added provider of capital. Our track record as an owner, lender and/or investor of real estate and securities has allowed us to create an unrivaled reputation for underwriting and understanding even the most complex of transactions.

The firm is headquartered in Irvine, California and maintains offices throughout the US and internationally. ACG Companies, in its principal and advising banking and investing capacity, focuses on providing financing for transactions in a wide range of corporate and real estate projects of all types, Including but not limited to, retail, entertainment, multi-family, industrial, office, hospitality, land, mobile home and mixed-use.

Services include originating, evaluating, and structuring the transaction; preparing and underwriting the financing request package; assistance with negotiations and coordination of placement and closing process. Our track record of completed transactions speaks volumes in our ability to execute and deliver competitive and innovative debt, mezzanine and equity capital.

For more information, contact Pat Thomas at 949-484-4404 or email: pthomas(at)acgcomanies(dot)com.
End
Email:***@acgcompanies.com
Tags:Acg, ACER Capital, Paul Garcia, Construction
Industry:Construction, Real Estate
Location:California - United States
Page Updated Last on: Oct 03, 2013



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