Helium Report - speaks to Jim Tousignant about Tanner & Haley - 5/7/07

DC4MS · 12-20-2007, 03:21 AM

Helium Report spoke with Jim Tousignant, CEO of Ultimate Resort about the acquisition of Tanner & Haley.

Ultimate Resort Closes on Tanner and Haley Transaction | Helium Report - Luxury 2.0 Guides and Reviews

He confirmed that his acquisition closed and that Ultimate Resort now owns over $100 million worth of homes that had been in the Tanner and Haley portfolio.

Over 650 Tanner and Haley members joined Ultimate Resort, choosing one of their two membership plans.

Ultimate Resort secured additional debt financing from CapitalSource (an experienced lender in the destination club industry), as well as “substantial” equity financing from new and existing institutional investors.

The club inherited many home leases from Tanner and Haley that will be maintained to support member travel plans. With these leases Ultimate owns 60% of the homes in the portfolio and leases about 40%. Tousignant says the plan over the next year is to reduce the leases so that the ratio grows to 80% owned and 20% leased.

Existing members asked for the opportunity to invest in the club, and that another round of equity financing will come from members and management.

12-20-2007, 03:21 AM	#1
DC4MS Administrator Join Date: Oct 2007 Location: USA Posts: 1,342 Club: DC4MS.com	Helium Report - speaks to Jim Tousignant about Tanner & Haley - 5/7/07 Helium Report spoke with Jim Tousignant, CEO of Ultimate Resort about the acquisition of Tanner & Haley. Ultimate Resort Closes on Tanner and Haley Transaction \| Helium Report - Luxury 2.0 Guides and Reviews He confirmed that his acquisition closed and that Ultimate Resort now owns over $100 million worth of homes that had been in the Tanner and Haley portfolio. Over 650 Tanner and Haley members joined Ultimate Resort, choosing one of their two membership plans. Ultimate Resort secured additional debt financing from CapitalSource (an experienced lender in the destination club industry), as well as “substantial” equity financing from new and existing institutional investors. The club inherited many home leases from Tanner and Haley that will be maintained to support member travel plans. With these leases Ultimate owns 60% of the homes in the portfolio and leases about 40%. Tousignant says the plan over the next year is to reduce the leases so that the ratio grows to 80% owned and 20% leased. Existing members asked for the opportunity to invest in the club, and that another round of equity financing will come from members and management.

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