Don't know if this will help out, NEWS of $3.7 mil funding:
(BSNS WIRE) Peacock Financial Corporation Announces Bank Funding of $3.7
Peacock Financial Corporation Announces Bank Funding of $3.7 Million Loan
Business Editors
SAN JACINTO, Calif.--(BUSINESS WIRE)--Aug. 27, 1999--Peacock
Financial Corp. (OTC BB:PFCK) Friday confirmed that its wholly owned
subsidiary, Peacock Development Corp., under a joint venture agreement
with Covenant Development Inc., has recorded a construction loan to
build 33 homes in San Jacinto.
The project is worth $4.6 million. This 33-home project is but
the first phase of a total 76-home project, with a combined gross
sales value of $11 million. The building sites are owned by an LLC of
which Peacock Development is a 50 percent managing partner.
James S. Upton, executive vice president of Peacock Financial,
stated, "Construction financing was provided through Upland Bank in
the amount of $3,700,000, and the loan was recorded August 26th.
Covenant Development will break ground on September 6, 1999."
Steven Peacock, president of Peacock Financial, stated, "We are
very pleased with Covenant Development's ability to acquire a loan and
start the building program quickly. Jim Upton has done a remarkable
job in helping Convenant Development achieve a 30-day construction
loan funding process."
Peacock Development, a wholly owned subsidiary of Peacock
Financial, is a master developer with a long history of real estate
experience in land assemblage, planning, infrastructure design, home
building, and inter-city redevelopment projects. Peacock controls
extensive land holdings near the Eastside Reservoir, a $3 billion
recreational lake in the San Jacinto Valley, currently under
construction by the Metropolitan Water District of Southern
California.
--30--mk/la* wam/la
CONTACT: Peacock Financial Corp.
Steven Peacock, 909/652-3885
peacockfinancial.com
or
Stock Enterprises (Investor Contact)
Jim Stock, 702/614-0003
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BUILDING/CONSTRUCTION REAL ESTATE
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