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Colebrook Financial Company
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Colebrook and Amber Group, Inc. Announce HOA Financing
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Colebrook Financial Company provides refurbishment
loan for two Amber Vacation Club projects in the Orlando area.
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Middletown, CT – May 2014 / Newsmaker Alert / Colebrook Financial Company, which provides financing for timeshare resort entities, announced recently they had closed a deal with a timeshare resort homeowners association (HOA) to assist in refurbishing two conjoining resorts – Alhambra at Poinciana and Alhambra Villas – near Kissimmee, Florida. The loan was facilitated by the Amber Group, Inc., which manages both properties.

“The loan enabled what had been a piecemeal renovation to take place in one phase, without burdening the owners with a special assessment,” said Colebrook Financial Principal Bill Ryczek. “A key reason for us to make the loan was the fact that the projects are professionally managed by Amber, which was able to provide us with complete information on the scope and timing of the renovation project. Many older resorts (or ‘legacy’ as they are often called) are in a similar condition and contemplating renovation projects. If a project is healthy, we may be able to help them.”

“The principals at Colebrook made the process pretty much wrinkle-free for us,” said Amber Group, Inc. COO Nick Gray. “We met with them in Orlando to discuss the process and there was very little red tape to go through since they understand timeshare and appreciated our business model.”

Gray explained that when they began managing the resorts, the reserves had been depleted and the units were in need of extensive maintenance. “We brought the resorts back to health by refurbishing them gradually,” he added. “There came a point at which RCI would have given them Gold Crown status, but we wanted to wait until they had been completely renovated. We calculated that by borrowing the $25,000 per unit to refurbish all the units, we would be spending the same dollars, including interest, as we would by continuing to renovate them gradually over the same period of time.”
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Amber Group, Inc.About Amber Group, Inc.
Established in 1994, the Amber Group manages Amber Vacation Club and Amber Resort Management, which provide central reservations, owner services and resort management to 16,000 owners at three resort locations as well as three additional affiliate sites. Currently, Amber is actively seeking affiliate sites and management opportunities, and developing a plan for expansion of Amber Vacation Club benefits. (www.ambervacations.com)

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for small and mid-sized developers in the US, Mexico, and the Caribbean. Colebrook is large enough to provide financing in the $20-$30 million range, but small enough to deliver a unique brand of personal service. For further information, call Bill Ryczek at 860-344-9396.

Media Contact:
Sharon Scott, RRP
SharonINK PR & Marketing
for Colebrook Financial Company
310-923-1269
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Placement Dates: 05/27/14 – 07/27/14
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