Marketwatch

Family Access Exchange, LLC Funds a $3.62 Million Loan


globallistings3 retweets
Family Access Exchange, LLC Funds a $3.62 Million Loan

Family Access Exchange, LLC Funds a $3.62 Million Loan

NAPLES, Fla., May 08, 2012 (BUSINESS WIRE) -- Family Access Exchange, LLC ("FAX"), an affiliate of EFO Holdings, LP announced today that it has provided a $3.62 million super-priority post-petition term loan to Basil Street Partners, LLC, the owner of a luxury mixed-use waterfront development known as Naples Bay Resort in downtown Naples, FL.

Naples Bay Resort is a master plan development that encompasses 30 waterfront residential condominiums, 85 condo-hotel units, 29,912 square feet of commercial space, and a 97-slip marina with direct access to the Gulf of Mexico.

The Loan was requested by Ms. Diane Jensen, in her representative capacity as Trustee of the bankruptcy estate of Basil Street Partners, LLC, and was approved under order of the U.S. Bankruptcy Court for the Middle District of Florida, Fort Myers Division, on April 16, 2012.

The development makes a significant impact to the local economy and employs more than 125 individuals in season. Loan proceeds will allow the development to continue operating over the next 12 months without impacting the high level of service to the market.

"In this challenging economic environment we were able to provide financing in a unique situation where traditional banks are unable to perform," said manager of Family Access Exchange, LLC, Renzo Renzi. "Most of all, we are pleased that our private capital is able to support the operating expenses of the development and preserve a significant number of local jobs."

Family Access Exchange is an affiliate of EFO Holdings, LP ("EFO") a Naples, FL and Dallas, TX-based family office. The company has specialized in providing financing to companies reorganizing under Chapter 11 of the U.S. Bankruptcy Code, commonly referred to as "DIP Financing." Over the past 12 years, EFO has become a dominant player as a DIP Finance source. Robert Grammen (Managing Director of EFO's DIP Financing activities since 1999) commented that "the DIP Financing space has remained attractive because of the fact that our capital was secured by good real estate assets and, more importantly, our capital has saved thousands of jobs locally and throughout the United States."

EFO has provided DIP Financing to entities throughout the United States including Florida, California, North Carolina, Minnesota and Colorado. A sample of their loans include: Aqua at Pelican Isle, Naples, Florida ($26 Million); Twin Eagles Golf and Country Club, Naples, Florida ($6 Million); Mi Arbolito, San Diego, California ($4.2 Million); Phoenix Biocomposites, LLC, Minneapolis, Minnesota ($3 Million); Cypress Woods Golf and Country Club, Naples, Florida ($700,000); Key West Brewery, Key West, Florida ($500,000); and others locally and throughout the United States.

EFO has also provided equity for companies not reorganizing under Chapter 11 and have provided capital and guidance to several private companies including but not limited to: Laser Spine Institute, Tampa, Florida; Waste Corporation of America, Houston, Texas; Palm Beach Tan, Dallas, Texas; Melbourne Greyhound Track, Melbourne, Florida; and others.

SOURCE: EFO Holdings, LP

Copyright Business Wire 2012

3:03a

3:01a

3:01a

2:57a

Toyota FY 2012 net profit ¥283.5 bln vs. ¥408 bln

2:02a

2:01a

BREAKING

1:55a

Copyright © 2012 MarketWatch, Inc. All rights reserved.

Intraday Data provided by SIX Telekurs and subject to terms of use . Historical and current end-of-day data provided by SIX Telekurs. Intraday data delayed per exchange requirements. Dow Jones Indexes (SM) from Dow Jones & Company, Inc. All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More information on NASDAQ traded symbols and their current financial status. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Dow Jones IndexesSM from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Telekurs and is at least 60-minutes delayed. All quotes are in local exchange time.

MarketWatch Top Stories

The action you requested requires a MarketWatch Community display name.

Log In

Email address

Please log in or register.

Log In

Email address

By registering, you are agreeing to MarketWatch's Terms of Service and to receiving periodic news and special offers via email about MarketWatch enhancements, products and services.

Please log in to access your MarketWatch

Premium Newsletter subscription(s).

Contact customer service at

#realestate in images

How about this location at the 12th tee?...

http://bouldersuz.tumblr.com/post...

How about this location at the 12th tee?...
How about this location at the 12th tee?

Picture of daguilar6
4 Aug 2013
495 retweets

Swedish #realestate

Picture of daguilar6
10 Jul 2012
218 retweets
Swedish #realestate

Twitter / Beverly83120: A Vendre Réf. : 303 - Villa ....

Picture of daguilar6
24 Jul 2013
71 retweets
Beautiful Property #SainteMaxime - 1dBCZYh @realschumacher @Luxuo #RealEstate #BPA01 Réf.303

#realestate in videos

10 Minute Snap Shot of a Corcoran Consulting & Coachi...

Picture of daguilar6
14 Feb 2013
1K retweets
Indianapolis #RealEstate #Agents! Watch @BobCorcoran1 #free #real #estate #coaching #video #networking

King County Home Prices for July 2012

Picture of daguilar6
11 Sep 2012
1K retweets
Come to my #RealEstate #Statistics Class at the office KW Marysville today at noon - (last months #stats #video )

Real Estate Investor Teaches New Real Estate Investme...

Picture of daguilar6
15 Jun 2012
1K retweets
New Real Estate Investment Strategy for Real Estate Investors ...: Real Estate Investor Teaches New ... #RealEstate

#realestate in articles

Bidding Wars for Homes Are Back

http://online.wsj.com/article/SB1...

Bidding Wars for Homes Are Back
We sent an email to: Please click on the link inside the email to complete your registration Please register to gain free access to WSJ tools. An account already exists for the email address entered. The username entered is already associated with another account. Please enter a different username The email address you have entered is already in use. Please re-enter the email address. First Name Last Name Confirm Email Company Size (Optional) From time to time, we will send you e-mail announcements...

Picture of daguilar6
3 May 2012
1K retweets

5 Reasons QR Code Marketing Is Broken (and How to Fix...

Picture of daguilar6
18 May 2012
1K retweets
5 Reasons QR Code Marketing Is Broken (and How to Fix It): _Dan Wilkerson is a social media... #realestate #tech

Bidding Wars for Homes Are Back

http://online.wsj.com/article/SB1...

Bidding Wars for Homes Are Back
We sent an email to: Please click on the link inside the email to complete your registration Please register to gain free access to WSJ tools. An account already exists for the email address entered. The username entered is already associated with another account. Please enter a different username The email address you have entered is already in use. Please re-enter the email address. First Name Last Name Confirm Email Company Size (Optional) From time to time, we will send you e-mail announcements...

Picture of daguilar6
27 Apr 2012
1K retweets

#realestate in sites

CBC.ca Player

Picture of daguilar6
1 Jan 1970
1K retweets
RT @JordanandSteve Check Out @ForestHillRE on @CBCToronto: #toronto #realestate

News Bulletin - 09:35 GMT update

Picture of daguilar6
30 Aug 2011
1K retweets
RealEstate Hotel FOR SALE in Kovalam - South Kerala +919847330800 #Kerala

Actionable Trading Ideas, Real Time News, Financial I...

Picture of daguilar6
7 Sep 2009
1K retweets
S&P: Look to ETFs Holding Multi-Family REITs (VNQ, ICF, REZ): By As the search f... #realestate