Friday, October 21, 2016

Napa Confidential: More on Kochs, Hall

Craig Hall has distanced himself from the Koch brothers and sent a note - indirectly - shedding light on the big hotel development plans for St. Helena. This after a fairly intense firestorm over revelations over the scope of the projects and what and who's involved.
    To wit:  Regarding our lending business, HALL Structured Finance, we make loans to help entrepreneurs build hotels and other high-quality real estate. In Napa, we helped finance the Hilton Garden Inn and the River Terrace Inn. We execute the loans with the developers, who then obtain equity from their own sources.
   In this case, HALL Structured Finance was contacted by an individual named Richard Holland. He is the general partner and developer of the proposed hotel in St. Helena. We have known Richard from the hotel business for many years and he is working with HKS, the architects on the project. We have worked with HKS on numerous projects over the past 20 years. Richard and HKS are the only contacts we have worked with on the St. Helena project thus far. That said, we do not have a political litmus test for where our borrowers raise their equity. If the Koch brothers are involved as equity, it is not through us, as we have not had any contact with them on this or any other project. 


    A word about the 10/16 post concerning outsiders pumping money into the valley's burgeoning touristic bonanza. The Private I of that and previous (and future) posts is not the writer of Nose but a lifelong valley resident who happens to also be a professional researcher for, among others, the United States Congress. She's a citizen activist in the best sense, going about her work out of the limelight, indefatigably. I'm happy she's passing some of it along, and assume many of you are, too.                          

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