   Executive Summary The Toro Azul property portfolio comprises in total 9 land plots with some 386 hectares (953 acres) in Brasilito at Costa Rica’s northern Pacific coast. The Brasilito properties are located in direct neighborhood of two major luxury developments: Meliá’s resort and residence Paradisus Conchal/Reserva Conchal and the future Hyatt Azulera complex. The core of the portfolio is the grand estate formed by 5 land plots adjacent to each other with a total area of 384 hectares (950 acres).This hill side grand estate offers abundant space for 200+ ocean view lots/condos, an 18-hole golf course, 200+ golf course lots, resort/eco-hotel, commercial, and leisure developments. Beach access is secured by an ocean front property of 3,815 sqm (0.9 acres) at Brasilito beach suitable for an exclusive beach club and hotel complex. The property’s north-eastern border is formed by Monte Tempate, the highest elevation of the area. The mountain’s nearly 500 meters (1,640 feet) high peak gives a stunning view on the Pacific coast line reaching from Potrero Bay in the north down to Playa Tamarindo in the south. Featuring a waterfall at the mountain’s bottom and lush nature it is the perfect location for retreat-style estates, eco-hotels, peak restaurant, gazebo, canopy tours, hiking and mountain biking trails. On its western side, the property borders the road towards Brasilito/Playa Flamingo, and the Country Day School. Any future development is well prepared: Public road access on the west and north side, prepared internal roads, electricity and telephone/DSL lines on the plot/plot border, abundant water resources from own wells on the plot and from two additional water-rich plots nearby, cable TV in proximity. Advanced project planning and permits will allow a fast advancement in developing the property. A straight forward development approach based on existing permits may yield more than a 214% return on total capital investment within 4 to 6 years (see chapter 5). All properties of the portfolio have a clean legal title andare held in single ownership by a German developer group.   |