LOS ANGELES, CA – October 3, 2005 – Helvetica Group announced today that is closed an $8.5 million structured finance transaction through a series of purchase loans on a partially completed, distressed condo development project located in Rancho Mirage, California. The loans offered the developer the opportunity to close quickly on a time sensitive transaction.
Once again, this transaction reinforces our ability to close complex financing transactions quickly and efficiently said President and Founder, Chad Mestler. We continue to demonstrate our ability to create flexible and creative ways to structure difficult transactions where traditional lenders fail. Helvetica structured and arranged 4 simultaneous loans from its affiliates that allowed the developer to purchase a distressed, partially built, luxury condo development from a liquidating trust. Helvetica provided financing that allowed the developer to capitalize on an opportunity to realize a project valued at over $20M when completed.
About the Helvetica Group
The Helvetica Group is a real estate investment banking firm specializing in real property, asset-based, hard money lending and mortgage banking. We are a direct lender and invest on behalf of individual investors, trusts, pension plans, retirement funds and institutional investors representing over $1 billion in combined assets. We work closely with brokers, bankers, lenders and financial advisors as strategic partners to provide clients with fast access to financing, affording them the opportunity to quickly leverage their real estate assets. Helvetica Group and its affiliates provide alternative financing secured by a variety of property types including: residential, retail, office, apartments, storage, RV parks, mobile home parks, industrial, and other special use properties.
About Veneto
Veneto is an upscale, luxury condo subdivision located adjacent to the Morningside Country Club in Rancho Mirage, CA. The development offers a Tuscany style living in close proximity to world class golf courses and just down the street from the Marriott Rancho Mirage on Country Club Drive. The project boasts golf course lots, fully furnished attached and detached condominiums, underground parking, club house with a gourmet, commercial size kitchen for entertaining, as well as a common area that includes full gym, swimming pool and planned spa and commercial space.
