Hard Rock Megapolis Panama - Investors Thread

Discussion in 'Real Estate' started by Balboaboy, Jan 9, 2012.

  1. Balboaboy

    Balboaboy New Member

    Hi guys I am just starting up this thread since I am sure there will be a need of some useful information exchange on this project. I am an investor in this project and am happy to find others out there with an interest here.

    So far there has been no closings yet. According to my last contacts with the developer in November, it is just around the corner and the hotel is supposed to start operations in Q1 this year.

    Terms and fees in the hotel management agreement where set in a separate contract at the time of purchasing agreement.

    In terms of the total number of pure hotel units here, the number 1500-2000 appear too high. A big portion of the units are ordinary condos with an option to participate in the rental pool.

    Will keep you all updated as more information is released.
     
  2. No-Non-Sense-Matt

    No-Non-Sense-Matt New Member

    Curious -- what was the price of the units?
     
  3. Balboaboy

    Balboaboy New Member

    Launching prices for the 44 sqm condo hotel rooms where 130.000
    For the bigger 62 sqm 1 br suites 180.000

    So around 3000 / sqm
     
  4. EdBowers

    EdBowers New Member

    What are the terms if you place your condo/ hotel room in the pool?
     
  5. JSANTI_PANATEC

    JSANTI_PANATEC New Member

    Hello Euroreal,

    My name is Jaimes Santiago President and Co-Founder of Panatec Global Solutions and Panappvantage.com. We help develop industry standard mobile applications for Airlines, Auto dealerships ,Restaurants and Hotels across central America. We provide technology consultancy services for companies that are interested in leveraging brand awareness and staying up to date with technology.

    That being said, I was wondering if you were interested in proposing the development of a full feature mobile applications for the megapolis/hard rock cafe project. To see the kind of work we can provide go to an android or Iphone market place and download the Seminole Hard Rock Casino App. Great return on investment is experienced when companies purchase apps. Let me know if you would like to discuss further. Take care and good luck.


    Thanks in advance,

    Jaimes Santiago
    Panatec Global Solutions
    62346356
     
  6. Balboaboy

    Balboaboy New Member

    Acc to contract you are guaranteed a minimum of 35 USD net per day. Room rates over 100 will be split 50-50. So a room rate of 200 will give the owner 35+50=85.

    Admin fees 2 usd / sqm
     
  7. BalaBeacher

    BalaBeacher New Member

    Are the Megapolis hotel-condo / regular condo units associated with Hotel Decapolis? if so, is there a complete separation of Hard Rock units and Decapolis units?
     
  8. EdBowers

    EdBowers New Member

    So a room rate of $150,= $35+$25 = $60? In other words do you mean that the owner gets 35% of the first $100 and 50 % after that.?
     
  9. Balboaboy

    Balboaboy New Member

    Yes that is correct
     
  10. BalaBeacher

    BalaBeacher New Member

    Technically, from what you're saying, the owner gets $35 a night EVEN IF the rental rate is less than $100. So, it could be higher than 35% if, say, the nightly rate is knocked down to $89. The owner still would get $35.
     
  11. Balboaboy

    Balboaboy New Member

    You are right again
     
  12. EdBowers

    EdBowers New Member

    So let's apply the projected 38 % occupancy rate for 2012 to say a room rate of $120. $6241.50 less 44m2 * $ 2 maintenance = $1,056
    Net to owner:
    $5,185.5 ?

    Are there any other projected expenses for owners?
     
  13. Balboaboy

    Balboaboy New Member

    Not to my knowledge.
     
  14. mrstamp

    mrstamp New Member

    Thanks Euroreal. I am invested in phase 1, but have not gotten any information on who can help with mortgage and when they plan to launch. Last I heard was December 2011 and then January 2012. I'll be sure to follow up on this thread as I'm sure more people are searching for similar answers.
     
  15. EdBowers

    EdBowers New Member

    I recommend doing all mortgage research yourself now and give yourself time to sell if you can't get one.
     
  16. Balboaboy

    Balboaboy New Member

    The developer came out with information about financing in October 2009 and they had a deadline that those that required mortgage had that approved by December 15 2009 (more than a year ago). So if you still have not arranged this (and is not a cash buyer) I absolutely recommend you to contact Jonathan Gonzales at the Megapolis Group, tel: (507) 208 2555 to get clarification about your options. I talked with him recently and he told me closing is within 2-3 weeks and the hotel operations will open within a month. He also told me that the Decapolis Hotel currently is running above 90% occupancy.
     
  17. Mordekha

    Mordekha New Member

    1. I heard that the $35 a night guarantee was only for the beginning.
    2. The Decapolis next door is Co owned, so all reservations will first go there. Afterwards, the reservations will go to the Condo hotel units.
     
  18. Panama Happy

    Panama Happy New Member

    Hi to everyone on the tread. I am invested in the Megapolis. I have been reading everything that I could on those blogging on Trump and now Megapolis. I would say based on having been involved since late December 2006. Do not get your hopes up on the Panama Banks lending money. The Panama banking system is very conservative. Before 2008 it was difficult I would say as of now, do not hold your breath on it. In essence, I had to secure the remainder of the money I needed for closing from the U.S.A.

     
  19. Mordekha

    Mordekha New Member

    Contact me of line.
    I may be willing to provide financing,assuming you have a 50% down payment on the property.
     
  20. john richards

    john richards New Member

    how can you be contacted
     

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