Showing posts with label FRPL. Show all posts
Showing posts with label FRPL. Show all posts

Wednesday, February 24, 2010

FRPL Finance Web SIte

FRPL Finance

The investment is a 12%, three-year term bond. This instrument is available for a minimum of $10,000, with increments of only $100 thereafter. This bond is available for both RRSP accounts and for non-RRSP purchases. The investor can choose to have the interest compound or to receive the income on a quarterly distribution schedule.

The issuer of the bond is FRPL Finance, a division of Fairmont Resort Properties Ltd., a large, extremely experienced, and very well-known developer of recreational/resort properties. Global has enjoyed a close working relationship with FRPL, and has been participating in previous investment activities. We are very comfortable with their abilities with respect to both financing and real estate development, and we believe that they are exceptionally positioned to capitalize on continuing demographic trends and the leisure pursuits of an aging population.

Blogs on FRPL Finance

http://twitter.com/frplfinance
http://my.opera.com/barneys388/blog/

About FRPL Finance

About FRPL Group Ltd.

FRPL Group was incorporated on December 29, 2004 under the Business Corporations Act (Alberta). FRPL Group was formed to carry on the business of providing financing, principally for companies in the resort development and timeshare sales industry. Currently, FRPL Group provides financing only to Fairmont Resort Properties Ltd. (Fairmont Canada). FRPL Group commenced business on October 24, 2005 by loaning funds raised in its Series A and Series B Mortgage Bond Offering to Fairmont Canada. Since then, FRPL Group has loaned a total of approximately $42 million to Fairmont from the issue of Series A, B, 1 and 2 Mortgage Bonds.

The four founders and directors of FRPL Group have backgrounds in tax, real estate, securities law and recreational property development. Together they offer over 100 years combined experience.

Fairmont Canada

Fairmont Resort Properties Ltd. ("Fairmont Canada") is the largest Canadian-owned developer and marketer of interval vacation ownership condominiums. In the past 28 years, Fairmont Canada has developed a timeshare ownership resort property at Fairmont Hot Springs, British Columbia and, more recently, at its other resorts at Lake Okanagan Resort, Kelowna, B.C., the Makaha Resort & Golf Club on Oahu in the Hawaiian Islands, and Costa Maya Reef Resort at Ambergris Caye in Belize. Fairmont Canada also owns Fairmont Rancho Banderas, a timeshare development near Puerto Vallarta, Mexico, as well as Portofino, a resort in Cabo San Lucas, Mexico. Fairmont Canada owns and markets timeshare units in the Oasis Resort in Mesquite, Nevada, owns a controlling interest in 275 acres of undeveloped land at Lyttle Lake near Fairmont Hot Springs, and operates a fleet of 26 houseboats on Shuswap Lake, B.C. Fairmont Canada also has hotel operations at its Makaha and Lake Okanagan properties.

FRPL Finance is a real estate investment company

“FRPL Finance is a real estate investment
company who is committed to
providing secure and quality investment
opportunities to qualifi ed investors.”
As we reported in our June 2006 investment
report, FRPL Finance Ltd. has
been engaged by Fairmont Resort Properties
Ltd. to raise capital for development
at current resort locations and for
future expansion. This was offered to
investors through a fi rst mortgage bond
offering.
The response has been overwhelming.
We have attracted over 600 investors
throughout Western Canada. We were
privileged to meet many friends and investors
at our information presentations
held in all 4 western provinces. Interest
remains strong and we will continue to
conduct presentations where the interest
warrants our presence.
We are excited to report that combined
investments have exceeded $20 million.
The confi dence of our current
investors, combined with continued interest
from new investors, has allowed
us to continue this offer until our goal
of $25 million has been achieved or
an estimated fi nal close of February 28,
2007.
Our fi rst mortgage security has been
well received by the investment community.
Combined with the 28 year
history and stability of Fairmont Resort
Properties Ltd. this secure offer includes
short terms and fi xed rates of returns up
to 12% and is RRSP/RIF/LIRA eligible.
The fi rst priority for the money raised
is the expansion of Lake Okanagan Resort
in Kelowna, B.C.. We are pleased
to include pictures of the building site
as well as infrastructure upgrades at the
resort.
This fi rst mortgage offer is limited, so
if you are a current investor wanting
to top up your investment, or a new
investor wanting information, call us
today at 1-877-451-1168 or visit us at
frplfi nance.com.
We also support a referral program.
Please call us to fi nd out how this may
benefi t you.

KEY PERSONNEL Frpl Finance

Collin H. Knight, RRP: President and Developer
Mr. Knight’s career in the industry began in 1980. He excelled at sales at Fairmont and the next
year was moved into the sales management team. In late 1982 he set up his own marketing company and initially offered services to Fairmont and later provided services to Panorama Mountain
Village, now an Intrawest development. Mr. Knight’s success took him as far south as Mexico and
it was from there that he and his now partner, Doug Morcom, were convinced to return to Fairmont
to buy an interest in the timeshare-development company. His love of a challenge and desire to
be the developer led to his success story of today.
Mr. Knight is one of only three people to receive the prestigious Life Time Achievement Award
from the Canadian Resort Developers Association and was one of the fi rst Canadians to receive
the Registered Resort Professional (RRP) designation. As an industry leader, Mr. Knight has spoken
on numerous occasions at conferences and seminars for both the Canadian Resort Developers
Association and the American Resort Developers Association (ARDA), sharing his expertise,
creativity and success. Mr. Knight chaired the Canadian Resort Developers Association (CRDA)
from 1991 to 2001 and currently serves as the immediate past Chairman.
He has a diploma in recreational leadership, a bachelor’s degree in physical education from the
University of Calgary and attended the Masters of Business Administration Graduate Program at
the University of Western Ontario. Mr. Knight is an avid sports enthusiast and enjoys all sports
especially skiing, scuba-diving, sailing, and golfi ng. He also enjoys collecting, selling, and trading
cars.
Douglas T. Morcom, RRP: Vice President
Mr. Morcom began working at Fairmont in 1980 and quickly moved into sales management. In the
early 1980s he managed and operated several off-site offi ces for the Company and successfully
sold timeshare properties for various other resorts. While in Mexico he and Collin Knight were
approached to return to Canada to partner with the Wilder family in the timeshare-development
venture at Fairmont and by 1996 they owned 100% of the company. In 1988 Mr. Morcom became
a partner in Fairmont, playing an instrumental role in the re-structuring of how the Company packaged
and sold its villa inventory.
A powerful motivator and inspiring mentor, Mr. Morcom has also spoken at numerous industry
seminars and conferences. He is actively involved in the daily sales and management of timeshare
interests of Fairmont and plays an active role in legal prospectus fi lings for the various
properties.
Mr. Morcom is an avid golfer and is an integral participant in many charitable and industry tournaments.
18
Bill Dekker, GSC, CEC: Manager of Development and Construction
Mr. Dekker comes to our organization with an extensive construction, design, and estimating and
management background. He has been involved in a range of commercial and industrial developments
in Ontario, Alberta, and British Columbia.
Mr. Dekker was General Contractor and Project Manager for clients such as Field Aviation, Chestermere
Arena complex, and Mount Royal College in Calgary. He was involved in the design,
estimating, and construction completion of several automotive dealerships, as well as Stelco
and Dofasco Steelworks throughout Eastern Canada. Most recently Mr. Dekker was involved
as construction management with Environment Canada, Volker Stevin Contracting, and Western
Feedlots Ltd. His project sizes ranged in magnitude of $1 million to $12 million per contract and
10,000 to 150,000 sq. ft. in size.
Mark Preston: Sales Director for New Projects
Mr. Preston started with the Fairmont team in 1989 in Fairmont Hot Springs and continued in the
vacation ownership industry both domestically and internationally for the following fi ve years.
Mr. Preston then managed hotel and resort properties overseas in Singapore and Malaysia, and
opened The Damai Lagoon Resort Hotel. After Mr. Preston’s return to Canada, he managed two
land development projects in the Calgary area and was also involved with the sales and marketing
of a number of Calgary’s most prestigious high-end custom homes, all selling in excess of $1
million dollars. The last show home was the most expensive show home sold in the Calgary area
to date.
Jeannie Godfrey: Director of Sales and Marketing - Hospitality
Ms. Godfrey has been involved in the Hospitality Industry for the past 26 years and has worked
with independent properties and chains such as the Best Western, Sheraton, Courtyard Inns, as
well as REIT, Royal Host. She has developed international markets and contracts for Four Points
Sheraton Canmore, Best Western Village Park, and The Yellowknife Inn, from USA, UK, Continental
Europe and Japan equaling approximately 5 million per year in revenues.
She has been responsible for developing strong sales focused marketing and action plans and
for implementing revenue budgets as well as managing hospitality sales and marketing budgets.
Her strength is niche marketing for hotels – fi nding the right market that fi ts the hotel. Ms. Godfrey
has achieved annual revenue growth at all properties that she has been involved with.
Alex Gunn: Director, Finance
Mr. Gunn worked in the securities business in Toronto and completed the Canadian Securities
Course in 1986 with honors.
He received his Bachelor of Arts in Business Administration in 1990 and during the early part of
the decade, worked in the tourism industry in Banff while studying for his Certifi ed General Accountants certifi cation. Mr. Gunn joined FRP in 1995 and received his CGA designation in 1996.
Since 1995 Mr. Gunn has been responsible for the accounting and fi nance operations of Fairmont and its affi liates. He also oversees the information systems for FRP and the development of specialized
software for Fairmont Vacation Villas, including receivables software which handles over 40,000 transactions a year.
Steve Henderson, Project Director
Mr. Henderson oversees all vacation interval sales for Fairmont, Lake Okanagan, Fairmont Houseboats,
and Platinum Club memberships. He also acts as Senior Sales Manager at Fairmont Vacation
Villas and Lake Okanagan Resort, while assisting with our expansion into new sales areas.
Mr. Henderson began with the Fairmont team in early 1982 and in 1987 went to Mexico to continue
his sales career and owned the sales and marketing company contracted by Vidafel/Mayan
Palace Resorts in Puerto Vallarta, Acapulco and Mazatlan with an eventual staff of 300. He remained
in Mexico for 8 years then returned to Canada to become involved with a real estate development
in the Fairmont area. At the completion of the development Mr. Henderson returned to
the Fairmont Family and has brought with him the expertise and excellent salesmanship skills that
are required to run two sales lines. Currently Mr. Henderson has a sales team of 40 plus people
reporting directly to him.
Marnie Cardell: Director, Marketing
Ms. Cardell has worked with FRP in marketing and sales since 1981, developing and maintaining
leading-edge marketing programs. In 2005 those programs generated more than $21 million in
timeshare sales and maintenance fee revenue and more than $5 million in hotel sales.
Ms. Cardell’s responsibilities include all marketing efforts to sell hotel nights and interval ownerships
at all properties within the Fairmont Family of resorts.
In recent years, several of Ms. Cardell’s new programs have been recognized by the industry as
best in class and subsequently adopted. For example, in 2002 Fairmont formed its own internal
exchange company, providing owners with additional vacation opportunities in its newly acquired
Lake Okanagan Resort and two luxury houseboat Clubs, generating more than $7 million in sales
the fi rst year.
Ms. Cardell’s background includes marketing and implementing real property development specializing
in sales, legal and security procedures, investor relations, general accounting, and overall
marketing functions. She also has extensive experience in tradeshows, statistics and public
relations.
20tions have been a joy for the last 30 years.

FRPL Finance Bond Sells Out in Record Time

the issuance of a 12%, 3 year bond by FRPL Finance (for a Fairmount Resort Properties recreational property development). We informed readers that, given the nature of the project and the features of the opportunity, investors could expect this offer to sell out quickly.

Within approximately one month of that announcement, the total dollars offered to the subscription actually exceeded the amount which could be accepted – leaving many investors unable to participate. Global Real Estate Investments has since learned that it was the largest contributor of investment resources to this opportunity.

We feel that an important factor behind the successful distribution of this bond is the recent stock market correction: investors are eager to rebalance their portfolios to include guaranteed returns, secured by real estate. As such, we can expect that similar investments (such as the bonds described in the prior section) may enjoy a similarly enthusiastic response from investors, and also sell-out quickly.

Investing in Canada’s Growth Corridors

Over the last year, Canada has experienced a slow-down in real estate activity, and specific regions are anticipating a decline in prices – especially in the residential housing market. Despite this general trend, analysts are reporting that attractive real estate related investment opportunities are still available. There are several factors behind this position.

First, Canada currently has two identifiable growth corridors: the Greater Vancouver/Fraser Valley corridor, and the Calgary/Edmonton corridor (the Greater Toronto Area/Southern Ontario corridor is not currently considered to be in growth).

Within these areas, populations are expected to continue to rise, and economic factors are considered to be relatively strong.

Second, demographic trends (such as an aging population) suggest that specific real estate related opportunities will arise: such as retirement/lifestyle communities, recreation/resort developments, etc. These may well be clustered within, or relatively close to, the identifiable growth corridors.

Third, where value can be added to the real estate (such as land development, or construction), additional investment-grade opportunities may exist. Unlike the acquisition of a completed house or condo, for example, which requires market forces and/or future speculators for increases in price, real estate development allows investors to profit from the inherent value added through the development and construction processes.

OWNERSHIP AND CORPORATE STRUCTURE

Fairmont is a privately owned Canadian company that was acquired by Collin Knight (Dunvegan Petroleum Ltd) and Douglas Morcom (Morcom Consultants Ltd).

FRPL Finance: COMPANY HISTORY

Fairmont fi led its fi rst prospectus in British Columbia with the superintendent of real estate in the
late 1970s and recently celebrated its 27th anniversary. From its beginnings at the Mountainside
Golf Course in Fairmont Hot Springs, B.C., business operations have grown to include more than
500 Five Star Award Winning luxury villas as well as luxurious houseboats and motor homes.
In 1978 developer Lloyd Wilder started building the fi rst resort in Canada to be constructed for
timeshare ownership. Fairmont Mountainside Villas sat on 22 acres in the interior of the Mountainside
Golf Course and included 116 cedar villas and a large recreation centre. The villas were still
under construction when Wilder sold an active interest in the timeshare marketing and development
company to the Fairmont founders, a group headed by Collin Knight and Douglas Morcom
who then completed the fi nal 36 Villas at the Mountainside project.
The new team sold the remaining units at Mountainside for Mr. Wilder, then purchased nearby
land and started developing the Riverside and Hillside Villas on the Riverside Golf Course. The
Company continues in 2005 to demonstrate its industry strength as it opens its fourth project,
Riverview Villas, also on the Riverside Golf Course, bringing on stream high end inventory of
1,632 interval weeks which are now ready for occupancy and sale.
In 2001, Fairmont acquired the Lake Okanagan Resort located near Kelowna, B.C. Between 1984
and 1988 the resort was operated by Canadian Pacifi c Hotels as a resort hotel complex situated
on approximately 300 acres of mountainside parkland with 4,700 feet (1,430 meters) of waterfront.
In 2005 Fairmont acquired the Costa Maya Reef Resort at Ambergris Caye in Belize. The Costa
Maya Reef Resort consists of 30 villas built in 10 buildings and consists of 10 - 2 bedroom villas
and 20 one bedroom villas - all with kitchens. There is also an amenities building with an indoor
and outdoor pool, a restaurant, lounge/games room, commercial kitchen and offi ces, a pool and
deck space, a palapa poolside bar, a 300 foot dock, a construction dock, a dive shop and a staff
housing building. There is also a guest water taxi shuttle and golf cart rentals as well as kayaking,
paddle boats, and sailboats. The property has approximately 750 feet of ocean beach frontage
with a protected concrete seawall and contains approximately 22 acres with ample future development
opportunity.
In 2005 Fairmont acquired time share vacation villas located at the Oasis Resort in Mesquite Nevada.
The acquisition represents over 500 time share intervals and the units are all one bedroom,
fully furnished vacation time share suites with kitchens. Mesquite is located at the Nevada, Utah
and Arizona border and is a popular stop for travelers driving to Las Vegas on Interstate Hi-way
15. The Oasis Resort is a full service resort with amenities, restaurants, golfi ng and casino operations.
There are several pools including a water park, go-cart track, mini golf and nearby gun club.
The area is well known for its many golf courses, national parks, and great weather.
Fairmont launched its Platinum Vacation Club in 2002, offering membership to all of its Fairmont
Vacation Villa and Lake Okanagan Resort interval Owners, giving Owners increased vacation
opportunities within Fairmont’s inventory. Fairmont Vacation Club also includes 11 new 60-foot
luxury houseboats, available only to club members and 16 houseboats available from the acquisition
of the Shuswap Lake Resort Club. The 11 new boats contain fi replaces and island kitchens
with two fridges. These boats also have hot tubs for eight, and a fuel transfer stations on the rear
deck.
The Makaha Resort & Golf Club on Oahu, Hawaii was purchased in 2004. Formerly owned by All
Nippon Airways Hotels and branded as a Sheraton Resort and Golf Club during the 1980s and
1990s, this Polynesian style resort consists of 173 hotel units, a convention centre, a restaurant
and an 18-hole championship golf course designed by William Bell the same architect of Torrey
Pines fame in California. This three hundred acre resort also includes luau grounds, tennis
courts, games room and massage services, a fi tness room, stocked Pro Shop, driving range,
putting and sand practice area, concierge tour assistance, lounge and entertainment, large swimming
pool with four fountains, shuffl eboard, basketball, craft and ukulele lessons, hiking trails and
nearby waterfalls.
Fairmont has exchange agreements with other resorts which enables it to offer other exchange
opportunities to its Platinum Vacation Club members. The corporate team continues to research
opportunities including sailboats, Harley Davidson motorcycles, fi shing/hunting camps, and the
development of drive-to locations in Canada and the U.S., as well as resorts in Mexico, West
Coast regions, and the Caribbean.

FRPL Finance Investments Calgary INFORMATION MEMORANDUM

FRPL Finance Ltd. (“FRPL”) has been retained by FRP to introduce investors interested in the fi nancing
of FRP.
The information contained herein has been obtained from FRP and other sources, and has been prepared
for the purposes of providing interested parties with general information to assist them in their
evaluation of FRP. No representation or warranty expressed or implied is made by FRP or FRPL as to
the accuracy or completeness of such information. Nothing contained in the Memorandum shall be relied
upon as a representation or promise of the past or future performance of FRP.
Any estimates or projections contained herein have been prepared by FRP and are based on information
currently available. They involve signifi cant subjective judgments and analyses and, accordingly, no representation
or assurance is made as to their attainability by FRP or FRPL. Actual results will differ from
any estimates or projections made and the differences may be substantial.
Recipients of this Memorandum agree that fi nancial and other information contained herein is of a confi
dential nature: i.e., they will not, directly or indirectly, disclose or permit their agents, representatives,
employees, offi cers, directors or affi liates to disclose any of this information and they will use the Memorandum
and any related information only to evaluate a potential fi nancing by FRPL of the properties of
FRP and for no other purpose.
If a recipient of this Memorandum or the shareholders of FRP or FRPL choose not to pursue a transaction,
the Memorandum and any other related material must be returned to FRPL. The Memorandum
recipient may retain no copies.
All questions about this investment opportunity should be directed to:
Mr. Ed Nycholat, CA
Manager of Operations
FRPL Finance Ltd.
Suite B, 220 - 42nd Ave SE
Calgary, Alberta T2G 1Y4
(403) 451-1161
edn@frplfi nance.com
Mr. Rex Schinnour
Sales Director
FRPL Finance Ltd.
Suite B, 220 - 42nd Ave SE
Calgary, Alberta T2G 1Y4
(403) 451-1166
rex@frplfi nance.com

Tuesday, February 23, 2010

FRPL Finance: COMPANY OVERVIEW AND FINANCING PLAN

Fairmont Resort Properties Ltd. (“Fairmont”) is Canada’s largest owner and marketer of interval
vacation ownership condominiums, with over 20,000 interval owners at its two premier resorts:
Fairmont Vacation Villas, Fairmont Hot Springs, B.C.; and Lake Okanagan Resort, Kelowna, B.C.
FRP through its wholly owned subsidiaries owns the Lake Okanagan Resort located in Kelowna,
the Costa Maya Reef Resort located on the Ambergris Caye in Belize, time share units in the Oasis
Resort in Mesquite, Nevada and has recently acquired LL Developments Ltd. which owns 300
resort developable acres near Fairmont Hot Springs. Fairmont also maintains hotel operations
at Lake Okanagan Resort, Kelowna, B.C. and Makaha Resort and Golf Club, Oahu, Hawaii and
operates a fl eet of 27 houseboats on Shuswap Lake, B.C. Excluding its subsidiaries, over the past
ten years Fairmont has had sales in excess of $10 million annually and including its subsidiaries
the revenue for fi scal 2006 is projected by Fairmont to be triple the gross revenues of that ten
years ago.