Lemonjuice Capital Leads Successful Termination Of Unsustainable Timeshare Regime; Auction Date October 14, 2016

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Waves Condominium registered an amended declaration today, removing the vestiges of an unsustainable timeshare regime that was devastating property values. As a result of this termination, millions of dollars will be distributed to owners, many of whom previously owned nearly worthless timeshares.

View of Waves Condo, Ocean City, MD

Waves Condominium is now valuable real estate

When a [timeshare] property fails to be sustainable, the right option can be a well-managed termination and recovery of the underlying real estate.

Interval owners stand to receive proceeds equal to significant premiums over and above timeshare market values following termination led by Lemonjuice Capital.

Alexander Krakovsky, managing member of Lemonjuice Capital Partners and President of Waves Condominium said, “Badly conceived legacy timeshare resorts often suffer from a death spiral of rising maintenance fees, value destruction and owner abandonment. Owners frequently lose their vacation property investments. Value creation through restructuring, repositioning, and better operation can turn a lemon into a wonderful vacation resort. However, when a property fails to be sustainable, the right option can be a well-managed termination and recovery of the underlying real estate. Terminating an entire timeshare regime while it is still operating is unprecedented in the United States and requires vigilant planning, process management, the right mix of legal support, and backing from owners. Gratitude goes to attorneys, the property manager, the Board of Directors, and owners for working together to complete this termination.”

About Lemonjuice Capital

Lemonjuice Capital (http://www.Lemonjuice.biz) invests and takes ownership positions in assets that are impaired by badly structured legal regimes, such as legacy timeshares, and works with boards and other owners in order to reposition and restructure these assets.

About The Auction

A real estate auction is planned for October 14th at Fenwick Inn in Ocean City, MD to sell 17 condo units in the Waves building.    See more information and links here: http://www.lemonjuice.biz/waves-auction.html

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Alexander Krakovsky
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