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DEVELOPMENT OPPORTUNITY
Sponsor is seeking $29,000,000 Senior Secured, Participating Loan facility to complete Phase I of the proposed development (the Loan).

The development will be a best-in-class, ultra-luxury, low density (“social distancing” friendly), mixed resort developed on over 1,100 acres in the secluded and exclusive south of the island of Abaco in the Bahamas.

A January 2020 appraisal by CBRE has valued the land (the collateral for the Loan) on an as-is basis at $100,000,000.

At an IRR of ~20% the return on the Loan is high on a risk-adjusted basis.

The project has a signed development agreement with the government of the Bahamas and will commence as soon as the Loan is funded.

The development is endorsed by world renowned entities and will include amongst other things the first purposely designed and built superyacht marina in the North American basin.

Each minimum $1,000,000 investment unit in the Loan can be structured, if desired (and subject to some changes in the terms), to include, when the project is fully developed, a permanent residence in the Bahamas.

Investors in the Loan will be offered preferential participation in other elements of the development.

Company Info

Oceanside Ventures Ltd, a Bahamian SPV, will invest in the initial pre-construction phase of the development of Project Oceanside a planned ultra-luxury resort development in the south of the island of Great Abaco, Bahamas.

Investment Highlights

(A detailed description of the project will be provided upon signing an NDA. The Gallery tab with pictures and video is highly recommended)

Best-in-class, Ultra-luxury, mixed use resort
Low density, exclusive, secluded, surrounded by a dense 20,000 acres forest. Perfect for social distancing in a pandemic rife world.
1,100+ acres on the island of Abacao- one of Bahamas exotic islands.
Unique topography provides dramatic vistas and ensures damage from hurricane, should the area be affected by one, to be very, very limited.
Over one mile of varying types of spectacular beaches, including about 10 small but private beaches- a very rare occurrence. Part of two miles ocean front.

The project is fully entitled. Difficult to achieve and rare in the Bahamas

Resort to include:

Luxury hotel with 50 secluded villas
150 ultra-luxury mansion level residential lots to be sold
140 smaller residential units to be sold
A super yacht marina – the first such marina in the entire North American/Caribbean basin purposely designed and built to service superyachts.
Plethora of amenities including an 18-hole golf course (designed by one of the world’s top golf course designers) and possibly another 9-hole short course.
A small amenity level casino
A Port of Entry (international), private-aviation only airport managed by the resort

At about 30-minute flying time from Florida, and less than 2 hours from New York the project is very close and accessible to the US
CBRE appraisal from January 2020 valued the land as-is at $100,000,000
Demand for the superyacht marina is projected to be overwhelming due to acute shortage of superyacht adequate facilities on the east Coast of the USA or in the Caribbean.
The marina location is excellent with proximity to the USA, to the best sports fishing grounds in the Atlantic and is on the main marine navigation route from East-Coast USA to the Caribbean.
Consequently, the proposed marina gained the endorsement of the most prestigious entity in the world of yachting who will also provide strong support for the project marketing. This will provide the project with unparalleled visibility to the Ultra-High Net Worth Individuals arena.
Demand for ultra-luxury residential in the Bahamas is very strong and can be clearly demonstrated, with no new supply on the horizon other than this project.
The Bahamas are a vibrant democracy, with a strong economy as evidenced by the highest GDP per Capita in the Caribbean and a strict adherence to the rule of law with the Privy Council of the House of Lords in London as its final judicial authority.
The Bahamas, being part of the British commonwealth, have strong affinity to the UK but are in the USA economic sphere of influence. Both countries consider the Bahamas a very friendly place for investors.

Abaco is the third largest island in the Bahamas chain and has a unique balance between infrastructure and exotic locations.
The project area is private, secluded and exclusive on the outskirts of the Bahamas National Park with no other development in the area. To a large extent it is an island on its own

Extensive due diligence accumulated over three years of work on the project

Financial Snapshot

CAPITAL STACK

Total

Financial Highlights

- $29mm senior secured participating loan
- Collateralized on 1,100 acres of land to be used for the development of an ultra-luxury mixed use resort in the Bahamas (appraised, on as-is basis, at $100,000,000 in January 2020 by CBRE)
- Sponsor’s equity of $71,000,000 is the land. Appraised at $100,000,000 less Investors secured loan at $29,000,000
- Development fully entitled - can start immediately
- 5 years term, 6% annual interest paid monthly, 15% accumulated annually compounded - paid at exit
- Each Investment unit of $1,000,000 can be structured to provide permanent residency in the Bahamas
- Use of funds- pre-construction activities, such as architectural, engineering, limited groundwork and marketing
- Upon the successful conclusion of Phase I estimated to take 3-4 years Oceanside Ventures will recapitalize, pay off the senior debt raised in this offering and move on to Phase II- construction.
- Investors in Phase I senior debt will be offered the opportunity to participate, at their option, in Phase II funding. As well as other priority offerings in the project including once it is operational.