Update Bluegreen

[buff Senior Member Find all posts View Profile Close buff]

A few years ago I was so impressed with Blugreens expansion adding more Properties. Well its going to continue

Bluegreen Corporation Signs $75 Million Vacation Ownership Credit Facility With Textron Financial Corporation
April 30, 2008


Bluegreen Corporation (NYSE: BXG) (“Bluegreen”), a leading provider of Colorful Places to Live and Play®, today announced that on April 17, 2008 it signed a new, $75 million revolving acquisition, development, and construction (“AD&C”) credit facility with Textron Financial Corporation, a Textron Inc. (NYSE: TXT) company. Bluegreen® intends to utilize this new facility to fund its vacation ownership expansion initiatives utilizing project-specific loans under this master facility. The facility expires in April 2010. Certain existing Bluegreen obligations to Textron Financial and its affiliates count against the facility capacity, with current availability totaling approximately $37.0 million, subject to customary terms and available collateral.

John M. Maloney Jr., President and Chief Executive Officer, commented, “This new facility provides Bluegreen with additional flexibility as we continue to expand our portfolio of vacation destinations. We have appreciated our relationship with Textron Financial over the years and we believe that this new facility demonstrates their continued support of Bluegreen Resorts’ business.”


ABOUT TEXTRON FINANCIAL CORPORATION
Textron Financial is a diversified commercial finance company with more than $11 billion in managed receivables. It has core businesses in Aviation Finance, Asset-Based Lending, Distribution Finance, Golf Finance, Resort Finance, and Structured Capital. Textron Financial also provides financing programs for products manufactured by its parent company, Textron Inc. Additional information about the company is available at Textron Financial Corporation.

ABOUT BLUEGREEN CORPORATION
Bluegreen Corporation (NYSE: BXG) is a leading provider of Colorful Places to Live and Play® through two principal operating divisions. With more than 185,000 owners, Bluegreen Resorts markets a flexible, real estate-based vacation ownership plan that provides access to over 40 resorts and an exchange network of over 3,700 resorts and other vacation experiences such as cruises and hotel stays. Bluegreen Communities has sold over 56,300 planned residential and golf community homesites in 32 states since 1985. Founded in 1966, Bluegreen is headquartered in Boca Raton, Fla., and currently employs over 6,000 associates. More information about Bluegreen is available at Welcome to Bluegreen Online.



ShareThis
Register Here For The Latest Timeshare News By Email

Recommended Companies




Useful Links
Send Us Your News
Advertise On This Website


Advertisements


--------------------------------------------------------------------------------



--------------------------------------------------------------------------------



--------------------------------------------------------------------------------



Click Here To Subscribe Free

--------------------------------------------------------------------------------

[vintner Super Moderator Find all posts View Profile Close vintner]

This is interesting, but I am not fully sure where this goes. Is this for additional development by TXT, or is it getting financing from them for development?

This is what I don't understand the meaning "revolving acquisition, development, and construction (“AD&C”) credit facility". Almost sounds like a banking arrangement.

Anyone have something to help me understand this press announcement?

[Spence Super Moderator Find all posts View Profile Close Spence]

This is interesting, but I am not fully sure where this goes. Is this for additional development by TXT, or is it getting financing from them for development?

This is what I don't understand the meaning "revolving acquisition, development, and construction (“AD&C”) credit facility". Almost sounds like a banking arrangement.

Anyone have something to help me understand this press announcement?

This means Bluegreen has $75M to go out and develop more properties and/or add to existing ones. It's something you would expect any company to have that is expecting to grow.

A few years ago I was so impressed with Blugreens expansion adding more Properties. Well its going to continue

Bluegreen Corporation Signs $75 Million Vacation Ownership Credit Facility With Textron Financial Corporation
April 30, 2008


Bluegreen Corporation (NYSE: BXG) (“Bluegreen”), a leading provider of Colorful Places to Live and Play®, today announced that on April 17, 2008 it signed a new, $75 million revolving acquisition, development, and construction (“AD&C”) credit facility with Textron Financial Corporation, a Textron Inc. (NYSE: TXT) company. Bluegreen® intends to utilize this new facility to fund its vacation ownership expansion initiatives utilizing project-specific loans under this master facility. The facility expires in April 2010. Certain existing Bluegreen obligations to Textron Financial and its affiliates count against the facility capacity, with current availability totaling approximately $37.0 million, subject to customary terms and available collateral.

John M. Maloney Jr., President and Chief Executive Officer, commented, “This new facility provides Bluegreen with additional flexibility as we continue to expand our portfolio of vacation destinations. We have appreciated our relationship with Textron Financial over the years and we believe that this new facility demonstrates their continued support of Bluegreen Resorts’ business.”


ABOUT TEXTRON FINANCIAL CORPORATION
Textron Financial is a diversified commercial finance company with more than $11 billion in managed receivables. It has core businesses in Aviation Finance, Asset-Based Lending, Distribution Finance, Golf Finance, Resort Finance, and Structured Capital. Textron Financial also provides financing programs for products manufactured by its parent company, Textron Inc. Additional information about the company is available at Textron Financial Corporation.

ABOUT BLUEGREEN CORPORATION
Bluegreen Corporation (NYSE: BXG) is a leading provider of Colorful Places to Live and Play® through two principal operating divisions. With more than 185,000 owners, Bluegreen Resorts markets a flexible, real estate-based vacation ownership plan that provides access to over 40 resorts and an exchange network of over 3,700 resorts and other vacation experiences such as cruises and hotel stays. Bluegreen Communities has sold over 56,300 planned residential and golf community homesites in 32 states since 1985. Founded in 1966, Bluegreen is headquartered in Boca Raton, Fla., and currently employs over 6,000 associates. More information about Bluegreen is available at Welcome to Bluegreen Online.

[vintner Super Moderator Find all posts View Profile Close vintner]

So I was correct in that it is a banking arrangement. They are not buying existing resorts from TXT, but are getting the money to buy or develop. Part of the exisiting relationship is because of Odyssey Dells and World Golf Village resorts.

[buff Senior Member Find all posts View Profile Close buff]

Don, We had a good discussion about Bluegreen a few years back on the board, and I'm not up to date on some of their newer properties. How many have they taken over . I know the list has grown.

[vintner Super Moderator Find all posts View Profile Close vintner]

Don, We had a good discussion about Bluegreen a few years back on the board, and I'm not up to date on some of their newer properties. How many have they taken over . I know the list has grown.

I am not sure what the total number is anymore. I know since they hooked up with Shell Vac. Club, they have added some nice west coast possibilities. I believe they are in the area of 50-60 resorts with SVC.

This additional funding should give them money to buy, build or remodel. Love to see how BG keeps improving.

[BoardGirl Senior Member Find all posts View Profile Close BoardGirl]

Don, We had a good discussion about Bluegreen a few years back on the board, and I'm not up to date on some of their newer properties. How many have they taken over . I know the list has grown.

Patrick Henry in Williamsburg, new Vegas property. The extra Dells place. I think one in the NC area? Seems there was one recently announced and I was thinking NC but could certainly be wrong.

[buff Senior Member Find all posts View Profile Close buff]

I read somewhere they just purchased 1200 interval weeks at the Royal Suites Atlantic Palace in Atlantic City . They plan on renovating all the units.This isa big score for owners. Great location.

[BoardGirl Senior Member Find all posts View Profile Close BoardGirl]

That must be the one I was thinking of! Very recent.

[vintner Super Moderator Find all posts View Profile Close vintner]

Pretty sure Boca made us aware of that not long ago.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

A lot has been happening with Bluegreen over the past few years. Off the top of my head, here is what comes to mind:

1) Hammock's at Marathon in the Florida Keys

2) Daytona Seabreaze at Daytona Beach Shores.

3) Carolina Grande in Mytle Beach

4) Seaglass Tower in Myrtle Beach

5) Patrick Henry Inn in Williamsburg

6) Club 36 in Las Vegas

7) Oddessey Dells in the Wisconsin Dells

8) Recently announced purchase of Fantasea in Atlantic City

9) Long Creek Ranch right near Big Cedar (Presidential units)

Significant expansion at current resorts

1) The Fountains

2) Shenandoah Crossing

Joint Venture with Shell Vacation Club for Select Connections

18 additional resorts that Bluegreen Owners can use their points to book resorts in the west coast USA.

So, the absolutely! Bluegreen is expanding.

[Maggie Member Find all posts View Profile Close Maggie]

I think we also heard that there is another new resort planned for Pigeon Forge

[Sister Syl Member Find all posts View Profile Close Sister Syl]

Patrick Henry in Williamsburg, new Vegas property. The extra Dells place. I think one in the NC area? Seems there was one recently announced and I was thinking NC but could certainly be wrong.

Bluegreen has a property in Linville, NC that they are developing. It was called Linville River Retreat when they purchased it but don't know if they will change the name when they open it as a Bluegreen resort. I think it will be a wilderness type resort. It is on a beautiful river where you can fly fish, etc.
We are really interested because it is just a short trip from our home in NC and with the cost of gas we are looking for things close by. Hopefully it will open soon.

[kingement Member Find all posts View Profile Close kingement]

Bluegreen has a property in Linville, NC that they are developing. It was called Linville River Retreat when they purchased it but don't know if they will change the name when they open it as a Bluegreen resort. I think it will be a wilderness type resort. It is on a beautiful river where you can fly fish, etc.
We are really interested because it is just a short trip from our home in NC and with the cost of gas we are looking for things close by. Hopefully it will open soon.

I've been interested in this resort as well given it's proximity to my birthplace of Boone, NC. Here's the link if anyone is interested:

Linville River Farm

It had been listed on the BG Rentals website last year.

I don't know what to think when I see one of the cottages up for sale as a vacation home. Did BG decide to make it one of their communities rather than a BGVC resort? Or maybe it will have separate sections for home owners and BGVC units like at CMV?

Newland, NC (28657) Property: Riverside cottage in Linville River Farm. What a g...

[jericap Super Moderator Find all posts View Profile Close jericap]

I was just in Atlantic City this past weekend and I heard BlueGreen bought part of Atlantic Palace. Any truth to that rumor?