Riverside Acquires $100 Million in Mortgage Financing from a Subsidiary of Deutsche Bank
JUNE 18, 2008. American mortgage financing for your unit at the Sonesta Jaco Resort or Ocean Whisper Resort has just become easier. Riverside Developers today announced that MortgageIT, Inc., a subsidiary of Deutsche Bank, has agreed to make available $100 million in residential mortgage financing to qualified purchasers of properties at luxury resort projects developed by Riverside Developers.
"MortgageIT's commitment to our projects, Sonesta Jaco Resort and Ocean Whisper at Tambor Beach, will allow us to facilitate the purchases for our buyers," said Joshua ten Brink, General Manager of Riverside Developers. "We are pleased that, with MortgageIT, customers will now have a streamlined process to acquire mortgage financing that will provide top-notch customer service with extremely competitive rates. We are convinced that the MortgageIT program will substantially increase our sales velocity and volume as well as customer satisfaction. The quality of service that MortgageIT provides has not been available in Costa Rica until now."
"The growth of the second home real estate market in Costa Rica has been very impressive," said Doug Naidus, Managing Director and Global Head of RMBS Lending and at Deutsche Bank. "We are thrilled to be working with Riverside Developers to provide end-loan financing to consumers in this exciting market. As a new financing resource, we look forward to continuing to develop new products to introduce to this marketplace. The quality of real estate that they build will be an excellent match with our financial services."
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