Colebrook Financial Renews $12M Credit with Breckenridge Grand Vacations
Colebrook Financial, a leading lender to the timeshare and travel club industries, has renewed a $12mm hypothecation loan to Gold Point Lodging and Realty, part of the Breckenridge Grand Vacations (BGV) companies. This loan provides flexible working capital to support sales at Breckenridge Grand Vacations’ (BGV) Grand Timber Lodge, one of the companies three Breckenridge resorts.
The renewal reflects enduring demand for vacation ownership in the mountain resort market and increases Colebrook’s cumulative funding to BGV to more than $70 million since 2009. Breckenridge properties continually command some of the highest prices in the timeshare industry.
The recent renewal emphasizes the value Colebrook Financial Company places on long term relationships. “Breckenridge Grand Vacations is one of the largest and best independent timeshare developers in the United States, and while Colebrook is delighted to have had an excellent relationship with them since 2009, I have enjoyed working with everyone at BGV for more than 20 years. I look forward to many more years of helping BGV continue their success and cannot wait to see the completion of their next, even grander project – The Imperial Hotel and private residences in Breckenridge,” said Tom Petrisko, Principal of Colebrook.
Blake Davis, Chief Financial Officer, Breckenridge Grand Vacations shared, “Colebrook has been an instrumental partner of BGV’s for over 15 years. Their financing flexibility and creativity has helped BGV continue to grow and expand.”
Founded in 2003, Colebrook Financial is a privately held commercial lender specializing in the timeshare and resort industry. Based in Middletown, Connecticut, Colebrook provides customized financing for developers, HOAs, and management companies across the United States, Mexico, and the Caribbean. The firm’s principals bring decades of resort lending experience and are known for service, flexibility, and deep industry experience. Learn more at colebrookfinancial.com.
Breckenridge Grand Vacations, a Colorado based real estate development and property management company is the developer and parent company of Grand Timber Lodge, the Grand Lodge on Peak 7, the Grand Colorado on Peak 8, and the Breck Inn. BGV has been bringing families together and creating grand vacations since 1984.
