![](https://capitalengine.io/capitalengine.io/offering_images/543/37_ScreenShot2020-07-17at2.44.01PM.png)
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.
![](https://i.pinimg.com/originals/ca/1f/2d/ca1f2dc478b19129857cc59f2f010022.png)
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.