The Offering
$6.5M equity raise. $1M minimum. 8% preferred.
The offering capitalizes a $20M total project against $13.5M senior construction debt, with investor equity participating in resort NOI, amphitheater ground lease, and operator-side P&L.
Based on the approved underwriting model and projected operating assumptions.
Target investors: Family Offices · Accredited Investors · Private Equity · Hospitality Investors.
Stabilized Financials (Year 3)
$5.14M revenue. $2.60M NOI. 2.26x DSCR.
Based on the approved underwriting model and projected operating assumptions.
- Transient RV$3,163,455
- Seasonal RV$562,500
- F&B (campground)$450,000
- Camp Store$300,000
- Alcohol$250,000
- Concert-Week RV Premium$225,000
- Amphitheater Ground Lease$190,000
- Operations$700,000
- Payroll$550,000
- Mgmt Fee / GM$315,955
- Property Taxes$225,000
- Utilities$200,000
- Insurance$200,000
- Repairs$150,000
- Marketing$100,000
- Reserve$100,000
Based on the approved underwriting model and projected operating assumptions.
6-Year Pro Forma
From $3.0M opening-year revenue to $5.6M+ stabilized.
| Year | Revenue | NOI | NOI Margin |
|---|---|---|---|
| 2027 | $3.00M | $1.00M | 33.3% |
| 2028 | $4.20M | $1.90M | 45.2% |
| 2029 | $5.14M | $2.60M | 50.6% |
| 2030 | $5.30M | $2.68M | 50.6% |
| 2031 | $5.45M | $2.78M | 51.0% |
| 2032Exit | $5.60M | $2.88M | 51.4% |
Amphitheater Economics
$86 blended per-attendee, three stacked layers.
The amphitheater pays the investor in three stacked layers — the first two flow to the resort before a single ticket is sold; the third is the operator-side P&L.
$86 × 40,000 paid attendees (20 shows × 2,000 paid) = $3.44M season revenue against $2.75M season opex = $694K standalone net profit (base case, 80% paid).
Headline $32.5M valuation applies the 8% cap to Resort NOI only — the venue OpCo profit is upside, not capitalized in the asset value.
| Scenario | Paid % | Att./Show | Season Rev | Season Cost | Season Profit |
|---|---|---|---|---|---|
| Sellout | 100% | 2,500 | $4,300,000 | $2,745,876 | $1,554,124 |
| Strong | 90% | 2,250 | $3,870,000 | $2,745,876 | $1,124,124 |
| Projected (Base) | 80% | 2,000 | $3,440,000 | $2,745,876 | $694,124 |
| Break-Even | 64% | 1,597 | $2,745,894 | $2,745,876 | $18 |
Break-even sits at 64% paid — meaningfully below regional norms for a venue of this scale.
Exit & Refinance
Refinance in 2030. Return capital. Retain upside.
- 1. Refinance 2030 — proceeds repay construction financing.
- 2. Investor capital returned in full.
- 3. Investors retain 30% ownership for ongoing cash flow + appreciation.
- 4. 8% preferred return accrues throughout.
Full financial model behind the data room
Detailed projections, sensitivity tables, $86 blended per-attendee build, capital call schedule, and audited assumptions are distributed only to approved accredited investors under NDA.
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Request the full diligence package.
Land prospectus, site survey, entitlements roadmap, financial model, and operator pro forma — released under NDA to qualified accredited investors via the secure portal.
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