I am looking to source financing for the acquisition of the following:
1. 18 acre New Resort (already profitable) with is Lakefront in Nicaragua. It ALREADY has 142 rooms allocated amongst 59 villas. This is already operating as a sold-out CondoTel development.
2. 65 adjacent acres of land, including Lakefront, which WILL house an additional 20 Room Luxury Boutique Hotel and 10 Villas. All of these will be structured and sold-off as a CondoTel.
3. 300 acres of Pacific Coast Ocean Front property. This WILL house a 60 room Ultra Luxury Boutique Resort, 50 Private Residence Villas and 144 Condos, all structured and sold-off as a CondoTel. There will also be a Village Centre and approximately 150 private lots sold off for individual home building.
The group that we have assembled to date are experienced Boutique Hotel/Resort operators with experience in development as well. There are also two individuals with experience in real estate development.
Both locations above have already received approval and certification to operate as Law #306 projects. This means that they both qualify for a 10-year Tax Holiday on Corporate, Personal, Property, Sales and Employee taxes, along with no duty or taxes on items imported or purchased within the country for use in the development.
This project is located within Nicaragua, which is absolutely booming and quickly becoming the next Costa Rica. It was recently rated as the 2nd safest country in Central/South America, one the the Top 10 Retirement Destinations in the world, one of the lowest inflation rates and with the World Bank recently waiving 100% of the countries debt, one of the fastest developing infrastructures in the Americas.
We are looking to raise approximately $US 12 Million which allows for acquisition as well as initial development etc. We are open and flexible to terms including interest, equity etc.
Any assistance that can be given would be greatly appreciated as we are in the final 2 weeks of our agreement to put this together. We have spent the last 6 months in Nicaragua negotiating the deal and the financing that we had put together recently fell through due to a change in direction with the funds now being invested into the Oil Industry within Canada. After this, the larger chains such as InterContinental and Holiday Inn will be considered by the current owners, as they have been trying to negotiate on the location as well.
