FW: Yacht Haven

-----Original Message-----
From: Farkas, Andrew L. [mailto:afarkas@islecap.com]
Sent: Thursday, May 01, 2008 10:52 AM
To: Lesley Groff
Subject: Yacht Haven

Just an update - as you know we have been working with the lenders on this property for a year. They finally came to the table in earnest and requested a forbearance agreement from us over the weekend which we have now signed. They hired advisors who seem to fully understand the circumstances far better than the banks ever have and we would appear to be on the verge of a solution. Of course they sent their advisors to st thomas without notice to inspect the property and the press has picked up on their visit and now bloom berg wants to run something, but Howard Rubenstein is undertaking to manage that. I just wanted you to have a heads up. All else is well and I hope it is with you. ALF

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