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PORTFOLIO
Current Projects
- ProNet BC, LP – 153 Kearny St. San Francisco
Under Development
 Located in a spectacular section of downtown San Francisco. The project property is located in the prestigious, world renowned Union Square District in Downtown San Francisco. Just steps away from a global shopping hub of exquisite retail establishments, cultural and art museums, public transportation, restaurants, bars, and Broadway style entertainment.
ProNet Capital is a Joint Venture Partner with Tonsing Properties in the development of the project. Whereby, ProNet oversees the development but Tonsing is responsible for all day to day activities on the project.
- In the summer of 2006 Pronet, and its partners, acquired a 50,000 sq. ft. historic 1909 office building to convert into high end residential condominiums.
- $30 million construction loan provided by Amalgamated Bank in New York
- ProNet/ CB Development Group – Crested Butte, Colorado
Under Development
 Crested Butte, Colorado is a historic town tucked away in the Colorado Rockies, which has been considered the last great ski towns in Colorado. ProNet/ CB is the exclusive developer of the San Moritz Private Reserve, which is one of the last available ski-in/ ski-out properties on Mt. Crested Butte.
ProNet Capital is the Managing Partner of CB Development Group, which is a single purpose entity created for the purpose of developing the San Moritz Condominiums. Matt McDonald is the Managing Director of the Development Group and is responsible for all day to day activities involved with the project.
- ProNet Turks and Caicos, L.P. – West Caicos Reserve, Turks and Caicos Islands
Under Development
 The Island of West Caicos is a 3,000 acre private island located just off the coast of Providenciales in the Turks and Caicos Islands. Within this unique setting, the four phased Molasses Reef development will be the first exclusive reserve product for the Ritz-Carlton brand and is scheduled to open in 2008.
- 125 key Molasses Reef, Ritz Carlton Reserve and 75 Island Villas, with units averaging in size of 3,000 square feet, serviced and managed by The Ritz-Carlton.
- ProNet was presented the opportunity to become involved with this development through an existing relationship with the original land owner, Logwood Development, and since becoming involved ProNet has become an active member of the Logwood Development team, whereby Matt McDonald sits on the Logwood Development Co. Board and holds an active day to day involvement within the development of West Caicos.
- www.molassesreef.com
- www.westcaicosreserve.com
- ProNet / Westside Development – West Caicos Reserve, Turks and Caicos Islands
Under Development
 ProNet, through a Turks and Caicos entity, Westside Development, acquired 49 acres of land on the Island of West Caicos, which was purchased prior to the announcement of the Ritz-Carlton development. ProNet has now Joint Ventured the project with the Gencom Group and Lehman Brothers to develop private residences and condominiums on the property. ProNet is actively involved on all day to day activities with co-development responsibilities with Gencom.
- 49 acres of “Ironshore Land” located on the western side of the island, all of which is waterfront property.
- The land was appraised prior to Ritz-Carlton at $350,000 per acre, and ProNet secured the purchase well below value.
- www.westcaicosreserve.com
Past Projects
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ProNet — JB Real Estate, LLC |
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Originated: |
February 2007 |
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Investment: |
An affiliate of ProNet Capital provided the equity capital needed to purchase a 13 unit apartment building in New Orleans, LA. ProNet has partnered with JB Real Estate to re-develop a flood damaged building in New Orleans East. |
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Project: |
The purchase of a 13 unit section 8, affordable housing apartment building. ProNet is a co-developer of the project, which involves renovating the existing structure and adding additional units to the building. |
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Update: |
Project 75% Complete and pre-leased through the Housing Authority of New Orleans, HANO. |
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ProNet — The Woodlands, TX |
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Originated: |
November 2004 |
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Investment: |
An affiliate of ProNet Capital provided the equity capital needed to purchase the land for a high end spec home development in The Woodlands, Texas. ProNet was the Managing Director on the project and was responsible for overseeing the development group and the day to day activities. |
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Project: |
The development of a gated community, which included luxury residences in an exclusive area outside of Houston, TX. |
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Update: |
Investment Complete |
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Paraiso Del Mar — La Paz, Mexico |
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Originated: |
October 2004 |
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Project: |
ProNet Capital acted as a consultant to the developer to assist in the capital structuring and placement for a major development project in Mexico.
Paraiso del Mar is a master planned resort community on 1234 acres of land with five miles of beachfront in La Paz, Mexico. Planned as a resort neighborhood with a strong sense of place and community, Pariaso del Mar will be developed in seven distinct phases. ProNet assisted in the initial capitalization of the development company and assisted in seasoning the project in order for the developer to obtain a total capital structure to complete the entire project. |
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Investment: |
ProNet Capital acted as the placement agent for the initial $5,000,000 in funding for land acquisition, pre-development and infrastructure work. |
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Update: |
The investment was re-paid in 2006. |
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ProNet — Riddell Holdings |
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Originated: |
October 2003 |
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Investment: |
An affiliate of ProNet Capital purchased a pool of private equity assets and partnership interests. The investments include a partnership interest in two main hotel properties.
- The Esperanza Hotel in Cabo San Lucas
- The Grace Bay Club in Turks and Caicos
Both of which were hotel and condominium developments. ProNet acted solely as a passive investor in both projects. |
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Update: |
The Esperanza Hotel was sold in late 2006 and we are currently in the Post-Closing phase.
The Grace Bay Club is complete with a 40 condominium expansion, whereby all the condominiums have been sold and delivered.
The portfolio and project 75% complete |
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ProNet — Oxford Title |
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Originated: |
September 2003 |
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Investment: |
An affiliate of ProNet Capital provided a Convertible Secured Bridge Note to Oxford Title Company for the purpose of a management buy out.
Oxford Title is a full service title company servicing the Denver, Colorado area. Oxford Title provides title services for real estate purchases, order demands and document preparation for refinancing, second mortgages, equity loans and foreclosures. Oxford Title also specializes in HUD preparation. |
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Update: |
The Company was sold in 2005 |
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ProNet — Oxbow Development |
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Originated: |
April 2003 |
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Investment: |
An affiliate of ProNet Capital provided the equity capital needed to purchase the land for a condominium development in Indianapolis, Indiana. ProNet was on the Board of Directors and was responsible for overseeing the development group.
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Project: |
Oxbow included the development of a gated community, which included approximately 25 luxury residences on the north side of Indianapolis, Indiana. |
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Update: |
Investment Complete |
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ProNet — Resort Holdings, LLC |
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Originated: |
July 2002 |
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Investment: |
An affiliate of ProNet Capital provided the equity capital needed to purchase a pool of land and spec condos in Keystone, Colorado. ProNet was the Managing Director on the project and was responsible for overseeing the day to day activities. |
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Project: |
The purchase of raw golf course land and land around Lake Dillon, plus spec condos at the base of Keystone Mountain. |
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Update: |
Investment Complete |
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ProNet Partners, L.P. |
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Originated: |
May 2000 |
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Investment: |
An affiliate of ProNet Capital provided a Convertible Secured Bridge Note to Cadant, Inc. for the purpose of research and development.
Cadant Inc. is a privately held designer and manufacturer of cable modem termination systems. Cadant is a leading high-speed networking products supplier of a new generation of carrier-class cable modem termination systems dedicated to bringing internet and multimedia services to mass markets.
Cadant, Inc. was sold to Arris in 2002 (NASDAQ: ARRS) |
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Update: |
Investment Complete |
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ProNet Private Bank |
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Originated: |
October 1999 |
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Investment: |
An affiliate of ProNet Capital provided the lending services and unique financial needs to a private niche clientele base, which includes athletes and entertainers and their advisors.
ProNet Private Bank was not a traditional bank, but rather a privately held financial services company that maintained relationships with some of the largest banks in the world. Many times the unique financial saturations of our clients required solutions not available through traditional avenues. ProNet Private Bank’s capital resources allowed for the opportunity for ProNet to move rapidly beyond the boundaries of conventional banking, cutting through red tape, to provide borrowing options for our clients. |
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Update: |
Investment Complete |
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