Business Services Industry
Sunterra Corp. acquired a $93-million portfolio of more than 11,000 vacation interest receivables from Prudential Securities Credit Corp. LLC for about $44 million in cash
Hotel & Motel Management, May 3, 2004 by Elaine Simon
* Sunterra Corp. acquired a $93-million portfolio of more than 11,000 vacation interest receivables from Prudential Securities Credit Corp. LLC for about $44 million in cash. The portfolio's about 5,800 performing loans carry a weighted-average interest rate of 15.7 percent, have an average seasoning of 39 months and are secured by about 44 million vacation interest points in Club Sunterra Vacations II, formerly Epic Vacation Club. The portfolio also included about 5,300 largely defaulted nonperforming mortgages. The transaction was the second part of Sunterra's acquisition of Epic Resorts.
Compiled by Elaine Simon, esimon@advanstar.com
COPYRIGHT 2004 Questex Media Group, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn’t Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by American Express