A friend of mine just told me this morning that the Loreto Bay project has suspended all new construction and operations. I went to the web site and
sure enough right on the home page there is a memo stating exactly that. Just thought I would post something here in case to make those that might be
affected aware.
Posting on the web site below
Dear Homeowners,
TSD Loreto Partners, S. en C. por A. de C.V. (the “Company”) regrets to inform its clients and stakeholders that, due to the challenging situation in
the international real estate and financial markets, all operating and construction activities for Loreto Bay (the “Project”) will be suspended.
To assist in securing new equity funding and a long-term suitable buyer for the Project the Company hired Cushman & Wakefield. Several potential
buyers and investors have visited the Project over the last few months, yet in the context of the current economic crisis and credit shortage, the
Project has been unable to secure a buyer or new investor.
We regret to inform you that until new funds are secured, as of June 7th, 2009 all hospitality related operations will be suspended and as of June
8th, 2009 all construction related activities will be suspended.
Please note that all homeowners with a home under construction, and all other homeowners will receive further information as it becomes available.
Best regards,
Embree C. “Chuck” Bedsole
Interim President
TSD Loreto Partners, S. en C. por A. de C.Vtripledigitken - 6-8-2009 at 02:25 PM
I think yours is now the third thread devoted to this subject.rhintransit - 6-8-2009 at 02:49 PM
Quote:
Originally posted by tripledigitken
I think yours is now the third thread devoted to this subject.
fourth, but who's counting?tripledigitken - 6-8-2009 at 02:53 PM
Quote:
Originally posted by rhintransit
Quote:
Originally posted by tripledigitken
I think yours is now the third thread devoted to this subject.
fourth, but who's counting?
Me and not very good.BajaNomad - 6-8-2009 at 03:11 PM
