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Vacation Rentals Property Management, LLC

Owned by Vitaxel Group. Related to V Trips.

Founded in 2006, according to LinkedIn page.  May be related to Vitaxel Group Ltd, which undertook a reverse merger with Grande Legacy at the end of 2017.

BDC Credit Reporter View

In the little time we've spent researching the Company we've not learned much except that it's involved in the travel business, and may be or have been owned by the Vitaxel Group. We do know that Gladstone Capital (GLAD) is the only lender and has a second lien position that began to be written down more than 10% from the IIQ of 2018, thus becoming a Watch List name. Given the write-down, the absence of information and the junior debt status, this is a credit that requires monitoring, but we're not drawing any drastic conclusions as yet.

Highlights

IIQ 2018: Added To Watch List (CCR 3) due to valuation.

IVQ 2016: GLAD initiates $7.0mn second lien loan due 2023 at 11.00% yield.