This ranch in San Patricio, Texas is a lavish yet rustic destination wedding and special event venue located just west of Corpus Christi. It consists of several chapels and event centers on 88 sprawling acres befitting of the big Texas venue that it is.
The wedding venue just never really got off the ground with the few different owners it had throughout the years. Because of this fact, we had no choice but to treat the loan as a startup scenario due to the poor cash-flow history. It just didn’t make any money!
Ryan had been in the hospitality business his whole life in the Rockford area of Illinois, owning several successful bars and restaurants throughout his career. He teamed up with his friend Howard and really put together a solid business that would truly unlock the potential that the ranch had all along.
We were able to provide a loan for $2.75 million based on their experience, down payment, post-closing liquidity, and net worth of both Ryan and Howard. They will truly transform this palatial property into a palatial cash cow!
Let me be blunt, here at Ivanhoe Capital Advisors, we structure deals to close and we don’t waste you or your client’s time. We want to get deals done and if we can’t, we let you know RIGHT AWAY and the reason why!