BajaNomad - Loreto Bay is for sale - Replay is out

Loreto Bay is for sale - Replay is out

wilderone - 1-22-2009 at 10:44 AM

Alvarez & Marsal is now the interim manager while they hope to find a buyer. Loreto Bay Co. continues to "actively pursue new capital". What else can they say - they've been doing that since Day One.
This is a thread from a discussion forum of Loreto Bay homeowners:

http://loretobay.ning.com/forum/topics/replay-gone

and here is the new website posted for Loreto Bay homeowners explaining that their management company RePlay is gone and that the project is up for sale again:

http://www.loretobaynews.com/

CaboRon - 1-22-2009 at 11:44 AM

All these guys want new capitol,

But, they don't want to use it for the project,

Only for their pockets.

It is such an old, tried and true, scam that seems to still work :fire:

CaboRon

wilderone - 1-22-2009 at 12:16 PM

Some related info on another website is that Carlos Slim is one of three current bidders on LB. Do you think David Butterfield will show slides of his successful, sustainable LB project? He's such a phony.

"As far as potential owners go, Slim's appeal lies in his business successes and the fact that he is a Mexican with an obvious love of his country. What better steward for the original dream and vision for Loreto Bay? And speaking of that original dream and vision, David Butterfield and Slim will both be speaking at a Gaining Ground conference in Guanajuato, Mexico, in April. The conference will focus on sustainability and the future of the real estate market. Coincidence? There is also information on the Internet that Slim has bought up a good bit of Baja real estate, including land in and around the Bay of Conception near Mulege.

The other bidders are purported to be Spano Partners, currently heading up the Nopolo Marriott project, an unnamed Bay area company or Re

lay - take your pick.

We're also getting conflicting information on construction activity in Agua Viva. According to Laurie with TCC, only skeleton crews are at work in the development, including Agua Viva. But Kelli who writes the Watch and Learn blog states in her latest post that "crews are working hard in Agua Viva", but work on the Paseo has not yet resumed. Of course, those observations are most likely a matter of perspective, with Laurie having a different take on the level of construction in her role with TCC. "

Hook - 1-22-2009 at 04:45 PM

Spano or Spanos partners?

The owners of the SD Chargers is the Spanos.

wilderone - 1-22-2009 at 05:55 PM

Spano Partners Holdings. They're taking pre-construction deposits on
Marbella is a 201 unit, 431,000 sf, Luxury Beach Front Condominium Resort project, to be completed in 2011. HA!!!
These start at $740,000 to $3 million. Hurry!

bajabound2005 - 1-22-2009 at 06:12 PM

darn, and we just put down all our spare money at Punta Brava with Tiger Woods.

Jim Spano...

Juan del Rio - 1-22-2009 at 08:17 PM

...he's a smart guy. While I don't want to get involved with what is going on in Loreto, I have spent some time with him in my part of Baja Sur just having fun. We flew into La Purisima airstrip a few months ago. Left to right: Josh Van Egmond, Pilot and Newport Beach Lifeguard Captain, Todd Clement, Aircraft owner and President of Wide Open Baja, Jim Spano, Jaime Adkins, Scorpion Bay Legend and Juan del Rio. Spano really loves Baja Sur...so much different than the East Coast he said. Loreto is a different kind of challenge I guess. Nice to put a face to the name.

[Edited on 1-23-2009 by Juan del Rio]

P1030709X.JPG - 45kB

Juan del Rio - 1-22-2009 at 08:26 PM

I first met Jim when we hosted him, Jesse James and a few other folks at Juan y Juan's last year. What a interesting time that was for us!

If you want to read a recent interview with Jim check it out here

FYI, we're planning a book signing for Carlos Fiesta's new book at Juan y Juan's when it is published as well!

[Edited on 1-23-2009 by Juan del Rio]

WOB Jan 28 69X.jpg - 47kB

capt. mike - 1-23-2009 at 09:01 AM

Carlos slim just lent the NY Times about to go BK newspaper $250 M at 14% interest.

he knows how to guage risk! Prime is at 3% and they couldn't get anyone else to play?

Juan - keep us posted on all Sand Won Neeko happenings.
i need to touch down at Purisima or Cadeje whenever.
we used to run our Las Barrancas clinic out of Purisima after the LB strip got too dangerous for us. One of our planes got totaled at LB a few years ago. all walked away. bad landing combined with some big rocks. sheared the gear and prop.

wilderone - 1-23-2009 at 09:51 AM

There has been 10+ years of actual reality regarding development in the Loreto/Nopolo area. It has bombed for reasons that will never go away. Jim Spano is out of his league in Loreto. What would he bring to the table that others - with more money and experience - haven't, to make Marbella and LB a success?

flyfishinPam - 1-26-2009 at 11:27 AM

Quote:

Originally posted by wilderone
There has been 10+ years of actual reality regarding development in the Loreto/Nopolo area. It has bombed for reasons that will never go away. Jim Spano is out of his league in Loreto. What would he bring to the table that others - with more money and experience - haven't, to make Marbella and LB a success?

no. there have been 30+ years of realty going on in the Loreto/Nopolo area.

flyfishinPam - 1-26-2009 at 11:28 AM

Quote:

Originally posted by capt. mike
Carlos slim just lent the NY Times about to go BK newspaper $250 M at 14% interest.

he knows how to guage risk!

CompUSA
he should stick with monopolies

[Edited on 1-26-2009 by flyfishinPam]

vandenberg - 1-26-2009 at 01:55 PM

Just to keep this project going takes MAJOR resources.
However much I dislike this development and its 'fullofit' developers, it would be a crying shame to have it end up like another Puerto Escondido, with many unfinished structures everywhere.

flyfishinPam - 1-27-2009 at 09:35 AM

Quote:

Originally posted by vandenberg
Just to keep this project going takes MAJOR resources.
However much I dislike this development and its 'fullofit' developers, it would be a crying shame to have it end up like another Puerto Escondido, with many unfinished structures everywhere.

especially since you live right on top of them. I thought there was a law where large tracts of beachfront have to be developed to completion according to an approved proposal before the sale is approved?? and the resources of the potential buyer must be proven if it is a foreign person or entity?? or does that only apply to the little guys?

anyway I don't have much confidence they will carry this through in your neighborhood. they also do not have confidence in themselves as coincidentally they pulled the plug on their own homeowner forum, the one that wilderone linked in the first post where homeowners were discussing the management changes and their frustrations. couldn't take the heat the homeowners were putting on them or what??

CaboRon - 1-27-2009 at 10:25 AM

Quote:

Since you are right there .....

How about using the unfinished structures for chickens ???

Then you will have free eggs ...

And it would be the only productive thing that has ever happened to that land :lol:

As long as there are persons stupid enough to make down payments for something that is not built , these phony projects will continue to despoil the land.

CaboRon

CaboRon

bajabeachbabe - 1-27-2009 at 01:42 PM

Quote:

Originally posted by flyfishinPam

anyway I don't have much confidence they will carry this through in your neighborhood. they also do not have confidence in themselves as coincidentally they pulled the plug on their own homeowner forum, the one that wilderone linked in the first post where homeowners were discussing the management changes and their frustrations. couldn't take the heat the homeowners were putting on them or what??

The links all seem to be working.

[Edited on 1-27-2009 by bajabeachbabe]

Paula - 1-27-2009 at 01:44 PM

The ning link works now, but it didn't a couple of hours ago.

Cypress - 1-27-2009 at 02:06 PM

vandenberg, Yep! It's a crying shame. :no:

flyfishinPam - 1-27-2009 at 02:13 PM

Quote:

Originally posted by Paula
The ning link works now, but it didn't a couple of hours ago.

it didn't work all day yesterday and was put back online after I posted that it was gone. coincidence? the hosting site said that "the owner took it offline" it just seemed fishy to me no pun intended.

Can someone translate this please

bajabarry - 1-30-2009 at 08:27 PM

Article entitled "Quiere Slim comprar a Citigroup Loreto Bay".

http://www.exonline.com.mx/diario/columna/490477

BMG - 1-30-2009 at 09:10 PM

Quote:

Originally posted by bajabarry
Article entitled "Quiere Slim comprar a Citigroup Loreto Bay".

http://www.exonline.com.mx/diario/columna/490477

Try using Babel Fish. You can get the gist of the article although translations are always fun to read.

Go to: http://babelfish.yahoo.com/

Copy the url for the article you want translated into the box in 'Translate a web page'.

Choose the languages.

Hit translate button.

Loretana - 1-30-2009 at 09:18 PM

Quote:

Originally posted by vandenberg
Just to keep this project going takes MAJOR resources.
/quote]

Carlos Slim is about the only player out there with deep enough pockets to pull it off......

And just as we were all having a good laugh about Loreto Bay going down the tubes, here comes a motivated hombre with a LOT of money who could bring it back to life. :light:

YIKES!! His yachts sure spent a lot of time lurking offshore in the past two years. One of the Ostar's crew members told me his daughter just loves Loreto. :yes: