Nearshore Developments

Nearshore Developments

NEARSHORE DEVELOPMENTS

U.S. Tel. 949-257-3518 U.S. Fax 213-232-3277

Website: nearshoredevelopments.com

Email:

EXECUTIVE SUMMARY

  1. Brief description of the nature of the project and its location.

Project approved and planned Land for sale in Chame, Panama. The 38 hectare (93 acre) property is located along the coastal hills of Chame, 45 minutes driving from bustling Panama City, and 7 minutes from the Pacific Ocean beaches. The Property has plans and permits ready for construction of 89 villas and 126 condos. Additionally, there are 10 acres within the projectzoned for a Hotel / Resort that can be planned. Owner is offering an attractive seller-carry back program ideal for a project real estate developer.

Mountain jpg ChameBeach jpg View of the Mountain and Lake View of mountain from local beach

CurrentOccupants HLV jpg Hotel Site jpgCurrent occupants Hotel Site

Location Chame1 jpgLocation

ProjectPurchase Summary

General / Area / Area / Base Price / Base Price
Information / Hectares / m2 / per m2
Property / 38.00 / 380000 / $ 26.32 / $ 10,000,000
Data
Purchase / Cash down / Property segregation / Actual Price / Actual Purchase / Interest / Period / Monthly
Options / payment ($) / amount required / $ per m2 / Price / Rate / Months / Payment ($)
Option 1 / 7,000,000 / Yes / 18.42 / 7,000,000 / 0.0% / 0 / -
Full amount
Option 2 / 5,775,000 / Yes / 20.26 / 7,700,000 / 10.0% / 60 / 40,900.50
75% down
Option 3 / 4,331,250 / Yes, plus10% of Price / 22.80 / 8,662,500 / 11.0% / 60 / 94,171.87
50% down / 5,197,500
Option 4 / 2,544,609 / Not until 60% / 26.79 / 10,178,437 / 12.5% / 60 / 171,745.39
25% down / of price is paid
6,107,062
Option 5 / 1,272,304 / Not until 60% / 33.48 / 12,723,046 / 14.5% / 60 / 269,416.28
10% down / of price is paid
7,633,828
  1. Project Background

The owners have created a project ready to operate; including permits, plans and bids available for any developer who wants to make the project covering the HLV owned property of 38 hectares (93 acres) a reality. This project includes 89 Villas and 126 Condominiums in 14 towers. (See Executive Summary per request). We also have an area assigned with permits and zoning ready for a boutique Hotel. There are 209 additional acres that can be incorporated into the project. The project has not reached funding maturity, but the right developer, venture capitalist or investor can make it happen. We have all plans and permits ready to proceed.

Chame 38has MasterPlan jpg

Master Plan

  1. Project Plans and Permits

Work done so far, available upon request:
Built fence, paths and entrance building
Master Plan for the 89 villas and 126 condominiums
Website
Topography / Orthophotography
Approved Tract
Building Plans (optional)
Infrastructure Plans (optional)
Ministry of Housing Permits
Traffic Permits

Aerial view of the property

  1. Project estimates.

Project Summary

Description / $
Project Cost (includes land cost) / 64,000,000
Loan Amount (60% LTC) / 38,000,000
Land Equity / 10,000,000
Cash Equity (required for funding) / 6,000,000
Pre-sale deposits on escrow / 10,000,000
Value when completed (Sales) / $94,000,000

Note:These numbers represent current lender requirements. The numbers do not include the Hotel. As an example, a 20 room five star hotel could be built for $12MM and sold for $25MM, making total costs $78MM and total sales close to $140MM.

Grand Total Value of Project

Product / Units / Area per unit
(m2) / Total Sellable Area
(m2) / Value/ m2 sellable
($) / Sale Value
($)
Villa Lots / 89 / ≈2000 / 175,000 / 60 / 10,500,000
Villa / 89 / 350 / 31,150 / ≈1,700 / 52,955,000
Condos / 126 / 190 / 23,940 / ≈2,200 / 52,668,000
Hotel / 1 / N/A / N/A / N/A / 25,000,000
Villa + Lots / 89 / N/A / 31,150 / ≈2,000 / 63,455,000
Total / 216 / N/A / N/A / N/A / $141,123,000

Note: Sale value was calculated using value of units sold plus value of available inventory at the average price per square meter shown.

Villa Model “A”Villa Model “B”

CondominiumsBeach Club

  1. Appraisal Value

$10,653,185 Date: Dec., 2007

Property Name / Company Name / Price
($ Per m2) / Land Value ($) / Size
(Has-m2) / Property ID
A / X / ≈27.50 / 3,118,569.30 / 11Has-3394m2 / 1
B / Y / ≈27.50 / 5,784,316.85 / 20Has-4194m2 / 2
C / Z / ≈27.50 / 1,750,298.84 / 6Has-3643m2 / 3
Chame / W / ≈27.94 / 10,653,185.00 / 38Has-1231m2 / Chame
  1. Context

Retired Americans and Europeans continue relocating and investing in Panama, thanks to the continued growth, progress and amazing beauty of the country. Among other attractions, English is widely spoken; the U.S. dollar is the currency; there is a superior level of security and lower cost of living compared to neighboring countries such as Costa Rica and Mexico. There is also a dynamic business environment in the country, with a large banking system, government incentives for foreign investors, including tax exceptions. The tourism sector continues to grow and the residential demand as well, with 85% hotel occupancy levels and 10% GDP growth in 2010. There are future prospects in Panama that make it an attractive economy. The most notorious is the $5 billion expansion of the Canal. There are also extensive infrastructure projects throughout the country. Additionally, the young Panamanian population is prospering and in need of housing for living and leisure. Recently, there has been an influx of Venezuelan and Colombian wealthy immigrants.

Chame is an ideal place to live in Panama close to Panama City, the Beach and the Mountains, surrounded by amazing natural beauty. Visitors are always in awe of the views, delighted with the climate and comfortable with the modern conveniences including proximity to the City and world class Resorts. There are a few similar successful projects in the area but none as close to the City and the Beach with a world class Golf Course, and none of them have Canal water front lots as can be planned and offered in our properties. We have also planned to target the high end market with luxury homes and prestigious overall project features for the lack of projects of this type in the area. All of these reasons and more make a development in Chame an assured success with many benefits and attractions to the potential developers and buyers.

  1. Maximum potential and expansion

There are additional 84 hectares (209 acres) that can be incorporated into the project. The project has not reached funding maturity, but the right developer, venture capitalist or investor can make it happen. These together with the 38 hectares offered in this executive summary compose the “Chame Properties” totalling 122 hectares (302 acres).The project is only 10 minutes driving from the beach, but the river and lakes within the project create the possibility of accessing the ocean by boat in a few minutes and even the possibility of adding canals to the overall 301 acre development that may also include a golf course, a lagoon or anything in the imagination of a successful developer.

Portion of the remaining 209 acres. Map of the Chame properties

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