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Restaurant Resource - Real Estate |
Saturday July 19th, 2008 |
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Development Opportunity |
| Category:
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Resorts |
| Listed By:
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Steve Terra |
| Location:
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North Coast na Dominican Republic |
| Price:
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USD 60,000,000 |
| Rooms:
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| Description:
Request Info
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Project Summary
Business Description
The Seahorse Ranch is located in the north coast of the Dominican Republic. Plans are to add a new 120 key flagship hotel, a 18 hole Jack Nicklaus championship golf course, a shopping mall and expand the exclusive residential community. The development is already in progress in the town of Sosua, an area known for its attractiveness to affluent vacationers as well as for its unspoiled beauty.
The Seahorse Ranch Resort & Golf Club construction is planned to begin in 2008. Over 939 acres of pristine land have already been purchased overlooking an exclusive and private beach, a significant portion of the land is beachfront and the total parcel is worth well over $ 100,000,000.00 (one hundred Million Dollars). The Seahorse Ranch Investment Group owns the land free and clear.
Over 100 potential buyers have already expressed interest in pre-construction purchases and the development is expected to sell out in less than 2 years. The project could progress without outside funding, but conditions in the DR indicate that time is of the essence in terms of real estate prices.
An opportunity has arisen to buy 40% of the Seahorse ranch golf course residential community, hotel, condos and shopping mall development project. The asking price is non negotiable and is set at $60,000.000.00 US.
The investment is secured by 939 acres of land and 40% of the development company.
This is truly an amazing opportunity with incredible returns on investment.
The seahorse ranch Project Land is about 939 acres. The owners had an offer in July of 2007 on parcel #1 which consists of 345 acres, for 26 million dollars, see agreement of sale attached. The deal did not go thru because one of the parcels that make up the 345 acres did not have clear title. The title issue has been resolved but the previous buyers invested in another project therefore this land is now available again.
Other major hotel chains have just made purchases in the area, the NIKKI BEACH RESORTS and AMAN group have already invested over 75 million just in land purchase. The Puerto Plata port renovation project was also approved and closing is scheduled for the end of this summer, a very reliable inside source is handling that deal and it is a 6.7 BILLION Dollars renovation project.
Please review the enclosed information and let me know if you would be interested in exploring this possibility further.
Investment Opportunity Details
Parcel A - Land Asset: 1,900,000 Square Meters or 469.00 acres
Parcel B - Land Asset: 1,761.415 Square Meters or 435.26 acres
Parcel C - Land Asset: 140,000 Square Meters or 35.00 acres
Parcel A & B - Land Value: currently being sold at $ 20 US.
Conservative estimate of value:
3,661,415 Square Meters @ $ 20.00 US/ M2 = $ 73,228,300.00 US
Parcel C - Land Value: Beachfront land currently being sold at $150/ M2 to $300 US/ M2. Conservative estimate of value:
140,000 Square Meters @ $ 200.00 US = $ 28,000,000.00 US
Total Land Value $ 111,228,300.00
By subdividing the land into lots and building and installing the infrastructure the value would increase to over $100/m2 or $ 366 million US.
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