Roxanne Passarella, Co-CEO of FantaSea
Colebrook Financial Company, a leading lender to the timeshare and travel club industries, announced that FantaSea Resorts has renewed its $16 Million Hypothecation Loan for Flagship Resort (Atlantic City, NJ).
Colebrook is a pioneer in many forms of financing and began working with club products before most lenders. Few competitors can match their longevity in the industry. They enjoy a reputation for adapting to new situations more quickly than larger institutions.
Colebrook’s long-term relationship with FantaSea dates back to 2009, with a small loan purchase facility and has grown over the years.
Bill Ryczek, Principal of Colebrook Financial said: “The FantaSea Resorts organization has been a leading player in the Atlantic City market for many years and we’re delighted to extend our relationship with them. Roxanne Passarella and Kevin Jones have navigated the company through some treacherous waters over the past year, which is a tribute to their ability to adapt to changing circumstances.” (See Bill Ryczek Webinar Replay on Resort Trades YouTube Channel)
Flagship Resort, a luxurious 32-story resort, stands at the beginning of Atlantic City’s historic Boardwalk. This family-friendly retreat offers a charming mix of amenities and activities unique to the Atlantic City landscape yet sits just far enough away from the crowds. FantaSea also operates Atlantic Palace and LaSammana Resort, the latter located across the inlet in Brigantine, New Jersey.
With 45,000 vacation owners and growing, FantaSea Resorts, founded in 1991, provides vacation ownership products and services in the Northeast. As an ESOP (Employee Stock Ownership Plan) FantaSea is one of the largest privately owned hospitality companies in Atlantic City.
“One thing we really like about Colebrook,” said Roxanne Passarella, Co-CEO of FantaSea, is that they are small enough to provide excellent customer service, and yet large enough to handle deals of all sizes. We’ve worked with them for more than a decade and have confidence that we will continue to do so moving forward.”
Colebrook Financial Company, based in Middletown, Connecticut, specializes in providing financing for the timeshare industry and can offer a variety of facilities in amounts ranging from $100,000 to $30 million or more. We have an innovative approach to financing and pride ourselves on rapid turnaround and personal service. Colebrook has no committees, and our most important policy is common sense. You’ll get straight answers, and you can always talk to a principal. For a complete list of product offerings and information on Colebrook and its principals, visit www.colebrookfinancial.com
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