$1.65 Billion Community Development Project

[Gary Cungu]

I was recently approached by a builder regarding a development project that requires an equity investor partner - at the end of the day it is 10 years and 1.65 billion. Hotel, residential, retirement, retail/commercial, etc. - basically, a small community.

The have been engaged in this for almost 2 years, have done a significant amount of preliminary work and attained much of the approvals. As it stands right now they are looking for an equity partner.

What it is now is acquiring the land for $25M plus $2M if further site work to get building permit and ready for construction for Phase 1. So immediately we would look at roughly $10M in equity ($8,000,000 as part of the $25M) and the $2M for anticipated costs.

There are numerous exit options - there are 5 or more phases/parcels for development so the group could sell some of the parcels for a quick capital return and develop others, advance some to certain more valuable levels of approval and flip, build and sell some or all, build/own/operate some or all. The builder is open to all options.  My question is, what would be my best option to raise the capital?