Post on 29-May-2018
transcript
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 1/29
Beleza do Mar
empreendimentos legais | sergipe – brazilwww.belezadomar.com.br/
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 2/29
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 3/29
o v e r v i e w b r a z i l
Ranked by Forbes (2008) as best real estate investment among
“BRIC’s” – ahead of Russia, India, China
Brazilian stock marked shrugged off global recession, entered
2010 with growth back at 5%
5% economic growth rate is impressive - initial “capitalist” boom
years currently enjoyed by Russia, India and China happened
four decades ago in Brazil.
In 2008 rating agencies raised Brazil to investment grade.
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 4/29
o v e r v i e w b r a z i l
Net external creditor•
Fiscal primary budgetary surplus•
One of the worlds largest commodity exporters•
Has been sheltered from the global credit crisis•
Energy independent since 2007•
Will soon be the world’s 8• th largest oil producer
Will host the 2014 World Cup and 2016 Olympics•
Democracy with political stability over the last two decades•
D i s t i n g u i s h i n g F a c t o r s
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 5/29
o v e r v i e w s e r g i p e
Population: 1.8 million
Mild tropical climate
Temperature is 77°- 86°F year round
Traveler magazine ranked Sergipe’s beaches among world’s best
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 6/29
o v e r v i e w s e r g i p e
D i s t i n g u i s h i n g F a c t o r s
Lowest crime rate in the North of Brazil•
Highest education levels in the North of Brazil•
Large middle class•
Stable social climate•
Highest level of social services in the North of Brazil•
Energy rich state (oil, hydro & bio fuels)•LocationofBrazil’smostsignicantrecentoilnds•
First state to provide electricity to all households•
Local government has a track record of transparency•
Not exposed to earthquake or tsunami•
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 7/29
o v e r v i e w p e n i n s u l a
Former coconut plantation•
Across the river from Aracaju•Construction of new bridge across the River Sergipe decreased•
travel time from two hours to 10 minutes, transforming the
peninsula into a prime location for real estate development
B e l e z a P e n i n s u l a r
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 8/29
o v e r v i e w p r o j e C T
Mixed use, high end residential resort development.•
Located next to Aracaju, the state capitol of Sergipe, Brazil.•
25 minutes from the airport, 10 minutes from downtown•
Targeting the local (60%), national (30%) and international•
(10%) markets.
424 Units, Luxury Houses, Apartments, Town Houses, Retail,•
Beach Club, Sports Utilities, direct access to three quarter
miles of beach.
Cost $ XXX million, Sales Revenue $ XXX million.•
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 9/29
o v e r v i e w p r o j e C T
Net Present Value of Project = $XX million
$XX million equity invested to date
Net-Worth of Equity now in excess of $XX million based on
Colliers International Valuation of land
Environmental and construction permits secured
Masterplan complete
Ready to move forward on infrastructure
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 10/29
D e v e l o p e r
Project manager and lead development partner XYZ is an
internationalrmwithatrackrecordofsuccessfulmajor
projects in Europe, and the Americas. The other partner,
Hospitable Investments Ltd. (HI Ltd.) is an Orlando, Florida based
hotel, resort, golf course, spa and residential golf community,
development, marketing and operational company.
Project carried out through Impreendimentos Legais Ltda (single
purpose project company)
XYZ is one of only four winners of the 2010 Urban Land
Institute Award of Excellence in EMEA
X Y z s o u T h a m e r i C a h o l D i n g l T D .
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 11/29
D e v e l o p e r
Founded in 2000 by Alfonso Perrier, internationally renowned
architect and developer, winner of numerous prestigious awards.
Alfonsto Perrier acted as project manager on projects
completed or projects under construction collectively
representing over $ X.X billion over the last 8 years. 9 of these
projects were in excess of $ XX million.
No failed projects in history of company.
X Y z s o u T h a m e r i C a h o l D i n g l T D .
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 12/29
D E V E L O P E R X Y Z S O U T H A M E R I C A H O L D I N G LT D .
Crimea, Ukraine – Luxury villas overlooking the Black Sea,•
sales of $XX million
Buzios, Brazil – Largest marina in South America , multiple•
hotels, luxury spa, golf course, investment of $X.X billion
Warsaw, Poland – Mixed use community presently valued at•
$X.X billion, former president of Poland is resident
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 13/29
D e v e l o p e r
Incorporated in 1986
BasedinOrlando,Florida,withofcesinLondonandMilan
Provides development, marketing and operational services for
hotels, resorts, spas, golf courses, golf clubs and residential golf
communities in the U. S. and internationally
h o s p i T a b l e i n v e s T m e n T s , l T D .
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 14/29
D e v e l o p e r h o p s i T a b l e i n v e s T m e n T s , l T D .
P a s t P r o j e c t s
Hotel Royal Plaza, a 400 room hotel in Walt Disney World•PGA National, a 2700 acre community with four golf courses•
The Lodge and Bath Club at Ponte Vedra Beach, a 66 room•
boutique ocean front resort in Ponte Vedra Beach
Super Duper Palace Resort & Spa, a 1028 room destination•
resort in Walt Disney World developed by HI Ltd. and owned
in joint venture with Equitable Life
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 15/29
m a n a g e m e n T
A l f o n s o p e r r i e rA l f o n s o P e r r i e r
m a r i a J o s e R i b e i r a d e L o u r d e s
J a m e s F r e d e r i c k B a r t h o l o m e w
W o l f g a n g S c h o p e n h a u e r
P e r c y D a r b y s h i r e
J a c k S t o c k m a n
M a r i a J o s e R i b e i r a d e L o u r d e s
American/French, internationally renowned architect and
developer with extensive project management experience;
winner of numerous prestigious awards; graduate of Rice and
Stanford, currently visiting lecturer at NYU.
Brazilian, licensed and highly experienced architect, expert in
local legislation, well respected and recognized by government
agencies, was lead architect for new zoning plan relevant to
Beleza do Mar.
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 16/29
m a n a g e m e n T
J a m e s F r e d e r i c k B a r t h o l o m e wA l f o n s o P e r r i e r
M a r i a J o s e R i b e i r a d e L o u r d e s
J a m e s F r e d e r i c k B a r t h o l o m e w
W o l f g a n g S c h o p e n h a u e r
P e r c y D a r b y s h i r e
J a c k S t o c k m a n
W o l f g a n g S c h o p e n h a u e r
Brazilian of American descent, local partner main projectmanager for Beleza do Mar; due to his extensive network in
Brazil, he has been able to secure the required licenses in record
time; Catolica University graduate with additional studies at
Princeton.
Swiss / US born, CFO XYZ and head of investor relations;
successful entrepreneur; member of several boards; PhD
University of Michegan.
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 17/29
m a n a g e m e n T
A l f o n s o P e r r i e r
M a r i a J o s e R i b e i r a d e L o u r d e s
J a m e s F r e d e r i c k B a r t h o l o m e w
W o l f g a n g S c h o p e n h a u e r
P e r c y D a r b y s h i r e
J a c k S t o c k m a n
P e r c y D a r b y s h i r e
J a c k S t o c k m a n
British/American; Partner of HI Ltd.
American; Partner of HI Ltd.
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 18/29
o p e r a T i o n s
B e l e z a d o M a r M a s t e r p l a nh c t 9 2 . 5l t 2 4 5
u t 5 7 3
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 19/29
o p e r a T i o n s
‘14‘13‘12‘11‘10‘09‘08 ‘15‘07
A 2007
Empreendimentos aquires land
C
J� 2011 - A 2012
1st Building Stage[ 150 ]
J 2011 - A 2012
Stage 1
S 2012 - F 2014
Stage 2
M� 2014 - J 2015
Stage 3
S 2012 - F 2014
2nd Building Stage187 �
7 � [ ] [ ]
M� 2014 - J 2015
3rd Building Stage60 �
16 �
S�
T i m e l i n e
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 20/29
D e v e l o p m e n To p e r a T i o n s
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 21/29
D e v e l o p m e n To p e r a T i o n s
In April 2007, XYZ bought 92.5 hectares (228.5 acres) of land•
forUSDXXmillion,nancedwithUSDXXmillionequitybythe
partners
Masterplanisnalized,environmentlicensesecuredandworkfor•
the infrastructure licenses well under way
Several land plots for the beach front luxury homes have already•
been pre-sold
Demandforuppermiddleclassrsthomeresidentialproperity•
Sergipe is very high: it is expected that more than 90% of the units
will be sold to local residents
39% of land will be sold for individual homes (avg size: 1,600 sqm)•
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 22/29
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 23/29
D e v e l o p m e n To p e r a T i o n s
Estimated sales price for•
nishedunits:$2,000/sqm
14.4 hectares (16% of land)•
– Apartments, Business/
Commercial, with space
zoned for construction of a
hotelA p a r t m e n t I n t e r i o r
L u x u r y V i l l a
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 24/29
D e v e l o p m e n To p e r a T i o n s
Type Lots Units
Revenues
(USD 000's)
oc ft h 20 20 38,700
oc/k v h 22 22 23,760
lk v h (t d ) 55 55 40,730
lk v h (t y) 61 0 11,560
gd v h 20 20 19,280
T h 56 56 21,850
lxy att 350 q 1 12 7,810
att 250 q 2 36 19,040
att 120 q 3 72 19,500
att 90 q 2 60 10,820
oc v Cd ht 1 70 (210) 12,720
b / C c (, c d t) 2 1 50 1 4,3 20
Tt 245 573 240,090
R e v e n u e
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 25/29
D e v e l o p m e n To p e r a T i o n s
pc t d, t cd t usD 8.0
it ctdt(d, dc, t t) usD 40.2
etc, mtc d st usD 3.8
addt c, t, , ctct usD 0.8
Ctct vtc(, tt, cd t tc) usD 74.0
pct kt usD 15.0
wk Ct /v Ct p usD 16.2
Tt usD 158.0
T o t a l C o s t : $ X X X m i l l i o n
E s t i m a t e d b r e a k e v e n : 4 t h q u a r t e r , 2 0 X X
C o s t
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 26/29
D e a l o f f e r i n go p e r a T i o n s
Infrastructure development (roads, landscaping, ut ili ties) USD 6.4 mil lion
Entrance, Maintenance and Sports USD 2.2 million
Addit ional licensing , permits, engineering, architecture USD 0.6 million
Construction Vertical (houses, apartments, commercialarea, beach club etc)
USD 27.1 million
Project marketing USD 0.6 million
Previous Soft Cost Repayment USD 2.0 million
Working Capital / Variable Cost Provision USD 1.1 million
Total USD 40million
U s e o f F u n d s
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 27/29
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 28/29
D e a l o f f e r i n gi n v e s T m e n T
O p t i o n 1 O p t i o n 2
$XX million - All pre-sale•
nancing
XX% IRR•
XX% ownership•
$XX million - Fund initial•
infrastructure outlay,
remainder will be bank
nanced
XX% IRR•
XX% ownership•
8/9/2019 Beleza Do Mar
http://slidepdf.com/reader/full/beleza-do-mar 29/29
http://www.BelezaDoMar.com.br/
James Frederick Bartholomew
Empreendimentos Legais, Ltd.
jbartholomew@empreendimentos.com.br
Greg Rockwell
Excend Capital Group