Friday September 10 , 2010

BelleHavens Secures Backing from Leading Investment Firms

Hunt Realty Corporation and Sentry Financial Corporation Become Financial Partners with the only “Member-Owned” Equity Destination Club in the Industry

Salt Lake City, UT – December 19, 2006 – BelleHavens, the only member-owned, equity destination club, announces financial backing from two leading investment companies: Hunt Realty Corporation, based in Dallas, Texas, and Sentry Financial Corporation, based in Salt Lake City, Utah.

Financial backing from these highly regarded investors reaffirms BelleHavens position on the select list of fiscally-sound and solidly-backed destination clubs. This financing allows Banyan Properties, the Clubs development and management company, to continue the staged growth strategy for BelleHavens. The capital will be used to fund multiple growth initiatives, including acquiring properties, expanding the Clubs membership base, and enhancing the Clubs service and support infrastructure.

Hunt Realty Corporation is one of the most well respected private equity investors in the real estate investment industry. Hunt Realty is a subsidiary of Hunt Consolidated, Inc., a privately-held company, directed by Ray L. Hunt, with worldwide interests in oil and gas, real estate, private equity, power and ranching.

Sentry Financial Corporation is a leading investment firm which provides capital equipment financing to Fortune 2000 and upper middle market companies, as well as growth capital to smaller companies with substantial market opportunities and strong business models. Sentry has been a financial partner for the past 18 months, and welcomed the opportunity to join Hunt Realty Corporation in providing capital for the ongoing growth and development of BelleHavens.

“We identified BelleHavens as a unique club and category leader early on,” says Gene Sanger, President of Hunt Realty Corporation. “They share similar core values and have an unfaltering commitment to their partners. This is a valuable growth opportunity for everyone involved and we look forward to working with the BelleHavens management team during this next phase of growth.”

“We are honored to welcome Hunt and Sentry and look forward to the accelerated growth that their financial support will enable” said BelleHavens CEO, Darin Gilson. “BelleHavens is the only member-owned destination club in the industry, and our equity model provides our members with outstanding asset protection and appreciation potential,” he says. “Our new financial partners are backing us because they recognize the distinctiveness of our product offering and strategy, and believe in our potential to become the industry leader in our market niche.”

BelleHavens was launched in late-2004. Until now, the Club has intentionally maintained a low profile, quietly accumulating members and strategically acquiring homes in the most coveted locales. The Club has evolved at a strategically conservative pace, while remaining fiscally sound and establishing solid policies and procedures for the strict guardianship of member deposits. For example, BelleHavens member deposits are backed by a diversified and debt-free portfolio of real estate. This differs from most other clubs, which offer non-equity memberships and use significant debt and leases to acquire their properties. This strategy, coupled with the new capital infusion, makes BelleHavens one of the strongest, most sustainable clubs in the destination club space.

“Our goal is to create a lasting, intelligent alternative to second home ownership and to provide our Club members with truly incredible and memorable life experiences,” Gilson added. Our new partners have the same vision for the Club and will provide great support as we pursue this mission.”