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42,000 Condo Hotel units Under Construction/Conversion in The USA But Is there Enough Mortgage Money to Fund the Boom

Birmingham, MI (PRWEB) November 6, 2005

Vacation Finance http://www.vacation-finance.com is the first National Mortgage Lender to capitalize on the condo hotel mortgage market niche. By initiating unique condominium lending program at condo hotel projects, with no minimum square footage or kitchen requirement.

“We understand why buyers choose a condo hotel for their vacation home, and it has less to do with square footage than with amenities, service and location. We believe that Condo Hotel and resort/fractional/timeshare second homes options will be a wave of the future, embraced by retiring baby boomers as the retirement residence of choice. These options are the most flexible and financially efficient ways to enjoy vacation/retirement ownership, and has all the benefits of a traditional second home, with less expense and hassles,” said Bob Waun, CEO to the group of development experts.

Condo Hotels are one part full-service hotel/resort, and one part traditional luxury condominium. Condo Hotel owners enjoy full residential ownership rights and rental income without the effort of rental management.

Vacation Finance executives have published an extensive research paper on the subject “Condo Hotel: 2nd Home Choice of The Baby Boom Generation.” The company has also signed co-branding agreements with 2 major Condo Hotel Developers to provide unique lending services.

Vacation Finance and its strategic partner, ReFund, LLC have arranged $ 4.75 million mezzanine capital for condo hotel projects in the last 3 months, expanding its commitment to this new market, and approved over $ 20mm in end mortgages in this same period. Vacation Finance Risk Management is the first US lender to offer a TRUE condo hotel consumer insurance policy. Vacation Finance Commerical is actively working with condo hotel developers providing acquisition and construction financing.

Vacation Finance also recently announced the opening of offices in Florida to better serve this booming vacation home market. “We plan to strategically expand in all the best vacation markets, but since money is fluid and portable, we will stay very virtual – investing in people not bricks and mortar” said Waun.

With new condo hotel projects in almost every highly desirable resort market, Condo Hotel construction and conversion is a real estate trend. Vacation Finance is a wholly owned division of Americor Financial Services, founded in 1987.

For more information contact:

Sara Hansemann, Vice President – Operations

(248) 816-7245

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