Steven R Sporzynski
Campbell, CA (USA)
Role(s):
Other
Laser Development Group
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Startup
Location:
Las Vegas
Industry:
Real Estate
Year Founded:
2007
Number Employees:
1-10 people
Description:
Laser Development Group is seeking a joint venture / equity partner for a 544-unit, extended-stay hotel property we have underway in North Las Vegas, NV. Land is in escrow, and entitlements and usage permits are in place.
We have a pending agreement with a large commercial lender for the remaining 80% of the construction financing, and a pending flag agreement with a national chain.
Gross profit is expected to be $28-30M, with an 18-24 month turnaround.
We are seeking $7.3M in equity capital. Project cost with land and reserves is $40M. Equity capital will be secured at all times against the land value.
Upon sale or refinance of the project, your original capital will be paid back, plus a pre-agreed amount from the anticipated $28-30M gross profit. Profits to the equity partner are paid ahead of any profits to developers.
Contact for further details.