Colebrook Financial Increases Flagship Resort’s Loan to $20 Million
Colebrook Financial Company, a leading lender to the timeshare and travel club industries has extended and increased its hypothecation loan to Flagship Resort Development Corp. to $20 million. Flagship owns and operates a trio of resorts in Atlantic City, New Jersey.
The Flagship Resort is located where Atlantic City’s Historic Boardwalk begins. The family-friendly 32-story property is known for exceptional views which owners can enjoy from their own private balcony. Called an oasis in the sky, Flagship features studio, one-bedroom, and two-bedroom suites as well as dining, shopping, and spa amenities.
Atlantic Palace Resort is centrally located on the Atlantic City boardwalk, while La Sammana, a smaller, boutique property, is across the inlet in Brigantine.
Flagship’s Jim Casey said, “ I love Colebrook. They have a wealth of knowledge, are great guys and they KNOW how to lend! I’ve known and trusted Bill Ryczek for 40 years! ”
“It’s been rewarding to see Kevin Jones and Roxanne Passarella steadily increase the volume of the Flagship sales operation. Colebrook and Flagship have a relationship going back to 2009 and now, as they are experiencing new growth, we’re excited to increase our loan to accommodate that upswing. We look forward to many years of working with the company,” said Colebrook principal Tom Petrisko.
Related: Colebrook Financial Finances Vacatia’s Acquisition of Liberte Management, LLC
Colebrook is a pioneer in many forms of financing including getting involved with club products before most lenders. With roots in traditional timeshare lending, few competitors can match Colebrook’s longevity in the industry. They enjoy a reputation for adapting to new situations more quickly than larger institutions as well as maintaining long-lasting relationships industry-wide. They are approaching their 20-year anniversary.
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
FantaSea Resorts Since 1991, FantaSea Resorts has enriched lives by providing affordable, dream vacation opportunities to thousands of families in the Tri-State and Delaware Valley. It is our belief that quality downtime should be honored and easily attained, even amidst the most hectic lifestyles. FantaSea Resorts is proud to be the premier provider of vacation ownership products and services in the Northeast, and one of the largest privately owned hospitality companies in Atlantic City. With 45,000 vacation owners and growing, FantaSea Resorts supports its mission through strategic alliances with leaders in worldwide tourism and progressive development in Atlantic City. Our timeshare exchange partnerships allow vacationers to exchange their weeks anywhere around the world and to choose from over thousands of affiliated resorts in over 100 countries.
