deck

2. Pitch Deck (15 slides)

Slide 1 - Cover (LAVisions layout)layout: title_hero · 16:9

Solara Cove

A 90-key eco-resort and 40 branded villas on the Baja coast.

Slide 2 - Problem (LAVisions layout)layout: problem_split · 16:9

The opportunity

A branded coastal resort the market wants and cannot buy

Coastal supply is fixed

Entitled beachfront land in the Los Cabos corridor is close to built out. New operator-branded resorts of any size are rare here.

Demand keeps compounding

US buyers reach Baja on direct flights and buy second homes. Absorption of branded residences here runs well ahead of new supply.

Product is fragmented

Buyers spending $2M on a coastal home get unbranded stock with no operator behind it. No brand, no rental program, no service.

$180M

Gross development value across a stabilized 90-key resort and 40 branded villas on entitled beachfront land.

Market gap

Slide 3 - Solution (LAVisions layout)layout: solution_image_left · 16:9

The asset

One entitled site, two income streams

A 90-key eco-resort under a named international operator, plus 40 branded villas forward-sold to private buyers. The villas fund construction and the stabilized resort sells to an institutional buyer. Gross development value of $180M on one coastal site.

Slide 4 - Product (LAVisions layout)layout: product_split · 16:9

The offering

One project, two ways to buy in

Resort for sale

The stabilized 90-key resort is offered to an institutional buyer at a 7.5% cap on $6.37M of NOI, an $85M value.

Villas forward-sold

40 branded villas sell to private buyers at about $2.375M each, $95M in total. Deposits of about $19M part-fund the build.

Operator brand

A named international operator runs the resort and lifts ADR, occupancy and the premium buyers pay for a branded villa.

The villas de-risk the project through the build. The stabilized resort is the exit.

Slide 5 - How it Works (LAVisions layout)layout: how_it_works · 16:9

From land to exit

From entitled land to institutional exit

Step 01

Entitle

Close the land and complete entitlement. Sign the operator agreement and open the sales gallery for villa reservations.

Step 02

Build

Construct the resort and the villas across 36 months. Villa deposits accumulate and part-fund the work as reservations convert.

Step 03

Settle villas

Villas complete between months 30 and 42. Buyers pay their forward-sale balances at settlement, returning $95M to the project.

Step 04

Stabilize

The resort opens and ramps to 60% occupancy at a $620 ADR under the operator. Stabilized NOI reaches $6.37M.

Step 05

Dispose

The stabilized resort sells to an institutional buyer at a 7.5% cap, an $85M value, in months 54 to 60. The programme closes.

One site, two exits, capital returned as the villas settle and the resort sells.

Slide 6 - Value Proposition (LAVisions layout)layout: value_prop · 16:9

How to participate

Three ways into Solara Cove: lend, invest, or acquire

Lend · $70M

Senior development loan
55% LTC, 39% LTGDV
First legal charge over the asset
Repaid from villa settlements and the resort sale

Invest · $57.5M

Project equity, 45% of the stack
About 21% blended IRR
2.0x equity multiple
60-month hold to disposition

Acquire · $85M

The stabilized 90-key resort
7.5% cap on $6.37M NOI
40 villas forward-sold at $95M
Institutional sale at month 60

Three ways into one asset: lend against it, invest in the build, or acquire the stabilized resort.

Slide 7 - Features (LAVisions layout)layout: product_split · 16:9

On the site

What sits on the Solara Cove site

90-key eco-resort

Ninety keys of low-density coastal lodging built to hold 60% occupancy at a $620 ADR under the operator.

40 branded villas

Forty freehold villas sold to private buyers at about $2.375M each, $95M in gross sales forward-sold before completion.

Named operator

An international hotel operator carries the brand and the standards that set ADR and the premium a villa buyer pays.

Beach club and amenities

Beach club, spa, dining and residence services that support the ADR, the occupancy and the price villa buyers pay.

Entitled beachfront land

Twenty-two million dollars of entitled coastal land in a supply-constrained stretch of the Los Cabos corridor.

Why now

Why Baja California Sur, and why now

US buyers are next door

The Los Cabos corridor draws US second-home buyers on direct flights. Proximity and easy access drive steady, dollar-based demand.

Branded residences absorb fast

Operator-branded villas in the corridor sell ahead of new supply and command a premium over unbranded coastal stock.

Coastal supply is constrained

Entitled beachfront land is scarce and slow to permit. Institutional buyers compete for stabilized, operator-branded resort assets that rarely come to market.

The value build

Two income streams build to $180M of value

$95MResidences

40 villas forward-sold at about $2.375M each

Contracted to private buyers, with roughly $19M of deposits down

$85MStabilized resort

$6.37M NOI capitalized at a 7.5% exit cap

Sold to an institutional buyer at stabilization

$180MGross development value

Less $128M of cost leaves $52M of profit, about 41% on cost

De-risked by the forward-sold villas

Slide 9 - Business Model (LAVisions layout)layout: business_model · 16:9

Development margin

Profit on cost, de-risked by forward sales

Main income

Development margin

Development cost runs $128M against $180M of gross development value. Profit is about $52M, near 41% on cost and 29% on value. The forward-sold villas carry the project through the build.

Unit economics

De-risked before completion

Villa deposits of about $19M part-fund construction, and $95M of residence sales settle before the resort opens. Blended project IRR runs near 20% to 21%.

Slide 10 - Go To Market (LAVisions layout)layout: product_split · 16:9

Sales & operator

Sell the villas, run the resort, exit the asset

Villa forward-sales

40 villas sold to private buyers through brokerage and private-wealth channels. Reservations and deposits build from launch.

Sales gallery and brokerage

An on-site gallery and a broker network carry the villa program. Deposits of about $19M help fund the build.

Operator distribution

The operator's brand and booking channels drive occupancy to 60% and hold the $620 ADR at stabilization.

Resort ramp and stabilization

The resort opens and ramps under the operator until NOI reaches $6.37M in the stabilized year.

Institutional disposition

A marketed sale of the stabilized resort to an institutional buyer at a 7.5% cap, an $85M exit value.

Slide 11 - Team (LAVisions layout)layout: team_grid · 16:9

Sponsor & operator

The team behind Solara Cove

Marcus Aldridge

Sponsor, Managing Partner

Twenty years developing resort and residential real estate across Mexico and the US Sunbelt. Delivered over $1B of coastal product. Leads capital and delivery on Solara Cove.

Elena Vargas Sponsor, Head of Development Fifteen years running resort construction and entitlement in Baja California Sur. Owns the build program and the operator relationship. The hotel operator Resort operator, named brand

The first five hires, funded by the seed

An international hotel brand with resorts worldwide. Operates Solara Cove under a long-term agreement and drives ADR and occupancy.
David Chen
Advisor, Capital Markets
Former hospitality investment banker. Leads the senior debt and the institutional disposition.
Sofia Marin

Slide 12 - Competitive Advantage (LAVisions layout)layout: competitive_matrix · 16:9

Comparable trades

Priced against recent Baja resort transactions

Where Solara prices against recent Baja resort trades

Solara pairs a stabilized resort with forward-sold villas, which most Baja comparables do not.

A named operator underwrites ADR of $620 and 60% occupancy from opening.

At about $944k per key on a 7.5% exit cap, Solara prices below the trophy comparables.

Villas forward-sold at $95M take demand risk out before the resort opens.

Asset	Price / key	Exit cap
Solara Cove	$944k	7.5%
Marea Punta	$1.05M	6.8%
Costa Verde	$820k	7.8%
Las Olas Reserve	$1.2M	6.5%

Slide 13 - Roadmap (LAVisions layout)layout: roadmap_3phase · 16:9

Development & exit

Sixty months, land to disposition

Months 0-18

Phase 1

Land and launch

Land close and entitlement

Operator agreement signed

Sales gallery and villa launch

Construction starts on resort and villas

Villa reservations and deposits build

Months 18-42

Phase 2

Build and settle

Resort and villa construction completes

Villa completions from month 30

Forward-sale balances settle, $95M in

Deposits of about $19M fund the build

Resort pre-opening under the operator

Months 42-60

Phase 3

Stabilize and exit

Resort opens and ramps occupancy

Occupancy reaches 60% at a $620 ADR

Stabilized NOI reaches $6.37M

Resort sold at a 7.5% cap, $85M

Project profit about $52M

Slide 14 - Forecast (LAVisions layout)layout: forecast_kpi_chart · 16:9

Project cashflow

The 60-month picture

Gross Dev Value$180Mresidences + resort

Development Cost$128Mland, build & finance

Development Profit$52M41% on cost

Blended IRR21%project level

Capital funds the build for three years, then reverses. Villa settlements return $95M as units complete, and the $85M resort sale closes in the final year. Profit is about $52M at a blended IRR near 21%.

Slide 15 - Ask (LAVisions layout)layout: ask_kpi_charts · 16:9

The offer

How capital comes into Solara Cove

The Ask$85MStabilized resort for sale

Forward sale$95M40 villas forward-sold

Senior debt$70MSenior loan at 55% of cost

Sources & uses · $M

Cost allocation