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HCC January 2008 news

S

Steamboat Bill

300 Member Milestone
High Country Club is proud to announce that we finished 2007 with over 300 Members. In addition, our portfolio grew to 35 properties in 29 destinations.

New Capital Partner
The end of 2007 also brought a new capital partner. Along with capital to continue to enhance the growth of High Country Club,
our capital partner has also contributed approximately $1.7 Million in real estate equity. The new equity investment will further the
Club’s ability to secure its refundable deposit obligations to Members. It is important to note that High Country Club closed
the year able to meet these obligations without the new equity from our capital partner

Lake Tahoe, CA
This new and luxurious 2-bedroom residence is right inside Northstar Village, within walking distance to the chairlift, ice rink, restaurants and Tahoe’s vibrant night life. We expect to make this property available to Members within the next 30 days.

Maui, HI
Due to overwhelming demand by Members for an additional unit in Maui, High Country Club has secured a large 4-bedroom home near Wailea. We are in the process of furnishing and decorating the home. We hope to have it available in time for Spring Break.

Outer Banks, NC
Construction is complete and we are moving furniture in. We will be releasing details shortly on when members can begin to make reservations.

Costa Rica
We have had multiple unforeseen challenges with taking possession of our unit in Costa Rica. We are moving closer to finding a solution and will be emailing everyone an update in the next couple of weeks. Opening this residence is one of our top priorities

Steamboat Springs, CO
High Country Club has just secured a 10,000 SF home on 35 acres, 3 miles from Steamboat Lake. We are in the process of furnishing and decorating the home. We hope to have this property available this Spring.

Net Asset Test
High Country Club’s Auditing firm BKD, LLP has been engaged to perform our annual audit and net asset test for 2007. We expect the
results of the net asset test to be posted prior to April 15, 2008. The net asset test will illustrate High Country Club’s ability to refund our
Member’s deposit obligations. It is also important for our Members to know that there are currently no Members on our resignation list.
 
Last edited by a moderator:

steve b

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Thanks for the update Bill. HCC has really turned out to be a great value, even at today's prices. Will be at Sundance next week staying at the HCC Deer Valley Condo and will give you a report from Black Bear Lodge.
steve b
 

pwrshift

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The beginning of the end?

A new capital partner?? With a whopping $1.7 million to invest! Wow. What did he bring to the party .. one condo? Why would they need such a small infusion of cash? These guys taking lessons from Countrywide? :)
 
S

Steamboat Bill

Thanks for the update Bill. HCC has really turned out to be a great value, even at today's prices. Will be at Sundance next week staying at the HCC Deer Valley Condo and will give you a report from Black Bear Lodge.
steve b

You LUCKY dog....great time to visit Park City.

A new capital partner?? With a whopping $1.7 million to invest! Wow. What did he bring to the party .. one condo? Why would they need such a small infusion of cash? These guys taking lessons from Countrywide? :)

The investor gave the title to the two homes (Maui and Steamboat) + $1.7m thus the total investment was about $5m and HCC has a new person on board that wants to be aggressive in expanding the club with membership and properties.
 

travelguy

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A new capital partner?? With a whopping $1.7 million to invest! Wow. What did he bring to the party .. one condo? Why would they need such a small infusion of cash? These guys taking lessons from Countrywide? :)

PDawg,

I'd have been disappointed if you didn't take the opportunity to bash HCC with even great news like this. :D

I'll be thinking of you when I'm hanging out at the new High Country Club 10,000 SF home on 35 acres at Steamboat Springs! ;)
 
S

Steamboat Bill

I'll be thinking of you when I'm hanging out at the new High Country Club 10,000 SF home on 35 acres at Steamboat Springs! ;)

Actually, we should call HCC and ask if they can make that property available for a free weekend for TUG this summer and invite anyone that wants to go....kinda like a college party.

HCC members get first crack at the bedrooms, then TUGers in order of reservations. If it fills out...bring a tent!

I will even grill some dogs and burgers for everyone and make some of my special Apple Martinis or Pina coladas.
 

Tedpilot

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Bill - Now that sounds like fun....oh the "controlled" chaos that would be.
 

3DH

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Actually, we should call HCC and ask if they can make that property available for a free weekend for TUG this summer and invite anyone that wants to go....kinda like a college party.

HCC members get first crack at the bedrooms, then TUGers in order of reservations. If it fills out...bring a tent!

I will even grill some dogs and burgers for everyone and make some of my special Apple Martinis or Pina coladas.


...can I put myself on that TUGer list now? :D Gee, I'll even take the hammock out back!
 
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