New Jersey features hundreds of miles of rolling countryside and natural parklands among mountains, lakes and forests. Tourists in increasing numbers are discovering that New Jersey is more than just a gateway to the United States – it is America in miniature, with abundant attractions including beautiful beaches, exciting nightlife and cultural attractions. Cherry Blossoms Towers offers quality residences for those who want to live right in the heart of New Jersey, in its largest city – Newark. Introduction
The project is located at 246 Heller Parkway, one block off Belleville Border, North Newark, New Jersey 07107, USA, between the Train Station, the evergreen Heller Park and a championship golf course. It will be built where the very popular Spanish Manor Restaurant & Cocktail Lounge is located. The Cherry Blossoms Towers will rise above the neighborhood once it is completed . Project Location
Land area : 117,000 sq. feet Total number of units : 710 units Average selling price per unit : $ 315,000 Building height: 36 floors on each tower Project Description
Type Floor Area Number of Units Studio Type 400- 600 sq. ft. 158 1-Bedroom 601- 800 sq. ft. 230 2-Bedroom 801-1,000 sq. ft. 180 3-Bedroom 1,001-1,200 sq. ft. 106 Penthouse 1,201- 1,400 sq. ft. 36______ Total 710 Units TYPES OF CONDOMINIUM UNITS
Security-controlled high-speed elevator Grand entry foyer with coffered ceilings Oversized exterior terraces High-speed Internet access State of the Art Security System Spacious walk-in closets Many others. RESIDENCE FEATURES Note: images are samples only.
<ul><li>Elegantly appointed master baths with designer plumbing. </li></ul><ul><li>Quality European-style cabinetry with marble countertops </li></ul><ul><li>Water jet bath tub. </li></ul><ul><li>Large terraces with magnificent city views </li></ul><ul><li>Spacious oversized walk-in wardrobes. </li></ul><ul><li>Full height marble in showers with frameless shower enclosure. </li></ul>MASTER SUITE FEATURES Note: images are samples only.
<ul><li>Quality European cabinetry. </li></ul><ul><li>Granite countertops with back splash; </li></ul><ul><li>High-quality stainless steel under-mount sinks featuring European-style integrated faucet; </li></ul><ul><li>Signature built-in refrigerator/freezer; </li></ul><ul><li>Premium kitchen appliances including electric or gas </li></ul><ul><li>cook top and top of the line dishwashers. </li></ul>KITCHEN FEATURES Note: images are samples only.
<ul><li> Lush tropical landscaping. </li></ul><ul><li>Auditorium for live performances; </li></ul><ul><li>Full bars and accommodations for lounge and sun deck; </li></ul><ul><li>Luxurious pool facilities with surrounding sun deck. </li></ul><ul><li>Full service 24-hour valet accommodations. </li></ul><ul><li>Magnificent full service fitness center and spa facility. </li></ul><ul><li>5,800 square feet of elegantly furnished meeting and entertainment rooms for business and private activities. </li></ul><ul><li>24-hour security with closed circuit television system> </li></ul>COMMUNITY FEATURES
<ul><li> Great shopping areas inside the towers and nearby. </li></ul><ul><li>Branch Brooke LRT Station is just across the street. </li></ul><ul><li>Heller Park and Golf Course are just walking distance. </li></ul><ul><li>Great dining for all tastes. </li></ul><ul><li>Only minutes to Newark Symphony Hall, New Jersey Performance Arts Center and new Sports Stadium. </li></ul><ul><li>Near Newark Liberty International Airport. </li></ul><ul><li>Shuttle services to the airport and downtown. </li></ul><ul><li>Near the business center, including Prudential Life, the largest life insurance company in the world. </li></ul>
Cost vs. Sales - Total Number of Units 710 Units - Estimated Average Price Per Unit $380,000.00 based on the following prices per unit: Studio Type $180,000.00 1 BR -------- $280,000.00 2 BR -------- $380,000.00 3 BR -------- $480,000.00 Penthouse -- $580,000.00 - Total sales of Condo Units $269,800,000.00 - Total sales of 1,050 parking units $ 47,250,000.00 - Total Sales (3 + 4) $317,050,000.00 Deal Summary
Cost vs Sales - Less: a) Project Costs covering: $175,490,000.00 soft costs, hard costs & others. Total Gross Floor Area – 1,253,500 sq.ft. b) Marketing/Admin costs 8,774,500.00 c) Cost of Money and other costs for 10 Years at 8% per annum, and other costs. $64,000,000.00 d) Others including land costs $10,400,000.00 - Total Costs $258,664,500.00 - Balance - Sales less Costs $ 58,385,500.00 Deal Summary
Cost vs Sales - Add: Reserve Funds plus earned interest for 10 Years. $ 47,211,632.00 - Total (8 + 9) Gross profits $105,597,132.00 - Gross Return on Investments (ROI) 40.82% ($105,597,132.00 divided by $258,664,500.00 x 100%) NOTE: Income on the commercial spaces not included Deal Summary
Project Financing - Taxable Revenue Bonds $80,000,000.00 Senior Secured Notes - 10 Year Term - Earnings: Fixed Rate of 8% per annum - Underlying Securities: 1. Asset Pool 2. Third Party Guarantees 3. 30% Reserved Funds to be converted into annuities at 7% per annum for 10 Years 30% Reserved Funds $24,000,000.00 - Earnings at 7% per Year for 10 Years $23,211,632.57 - Total Reserved Funds and Earnings $47,211,632.54 Deal Summary
Project Securitization Appoint Underwriter/ Placement Agency Appoint Third Party Consultant Third Party Consultant Assessment Register Special Purpose Entity Offering Documents Issue Project Bonds Bond Counsel Rating Agency Third Party Guarantee Review Rate Guarantee SELL Trustee Bank
Project Securitization <ul><li>Project Securitization has the following process: </li></ul><ul><li>Appointment of an Underwriter/Placement Agent. </li></ul><ul><li>Third Party Consultant appointed to evaluate the project viability. </li></ul><ul><li>Upon the positive assessment by the Consultant, Offering Documents are prepared and a Special Purpose Entity is registered to act as the Issuer. </li></ul><ul><li>The services of a Bond Counsel is retained to review the offering documents; </li></ul><ul><li>A Rating Agency is approached to provide recognized industry rating. </li></ul><ul><li>A Third Party Guarantee is obtained to cover the Notes. </li></ul><ul><li>Assuming the rating is acceptable to guarantor, the guarantee is issued, and the Underwriter/Placement Agent proceeds to sell the Notes to the Investors. </li></ul>
Global First Financial Partners, Inc. (GFFP) is a global financial service, investment and asset management firm. It is the General Partner and Fund Manager for the Global First Real Estate Private Equity Fund 1, LLC. GFFP has more than $ 800 Million of assets under its management. It has subsidiaries and partners in Asia, Korea, the Middle East, North and South America. Among its current projects are residential condominiums, hotels, and biodiesel plants, in New Jersey, USA, the Dominican Republic, the Philippines, and South Korea. Many other projects are under development. About GFFP
Organizational Chart Board of Directors Chairman & Managing Director Deputy Managing Director Finance Operations Marketing Investment Committee Board of Advisers Accounting Corp. Administration Financial Management Project Management Information Technology Partner Relations Investor Relations Sales Coordination Events & Promotion Investment Research Fund Administration Risk Management
Organizational Strengths INTERNAL RESOURCES Vertical organization built on the experience of its seasoned principals and managers. - Strategy Formulation - Research - Acquisitions/Financial Analysis - Project Management & Development - Construction Management - Portfolio Management - Asset Management PARTNER RESOURCES Established long-term industry relationships producing attractive investment opportunities, access to capital markets, asset optimization and timely disbursements of returns, - Project Partners/Property Owners - General Contractors/Specialty Contractors/Construction Suppliers - Brokers/Placement Agents - Financial Institutions: trustee banks, rating agency/guarantee providers - Architects & Engineers - Lawyers/Bond Counsel
Management Team Jose Hernandez Age 57, President of Newark Mechanical Corporation, a general construction company founded in 1975, an officer and director of professional and industry organizations including the Hispanic-American Chamber of Commerce, La Palma Development Corporation, Minority Contractors of New Jersey, Association of Building and Construction Contractors, and the National Business Council. Mr. Hernandez has been in the business of property development and construction for more than 30 years. Concurrently the Chairman & CEO of Credit Insurance Corporation of America, Inc., a specialized finance company registered in the State of New Jersey.
Fernando M. Sopot Age 59, BS Agricultural Engineering, MBA, Major in Management and Bachelor of Laws (LLB) from the University of Eastern Philippines, University of the East, and the Philippine Law School. Has undergone training programs in Agri Business, Import & Export, Financing, Construction & Engineering, Project and Construction Management, Project Securitization and Construction Laws. Has worked with companies involved in marketing and distribution of Agricultural Machineries, Financing, Construction & Engineering, and Project Development. Has extensive experience in finance and asset management and more than 25 years in construction, engineering and property development. He has been teaching and has been a resource person for 5 years on Construction Laws. Formerly President of a large construction company in Asia. Currently President & COO of Credit Insurance Corporation of America, Inc. He is a member of the International Association of Financial Engineers (IAFE).
Rosemarie C. Basa Age 57, President and Chief Operating Officer of Core Spaces, Inc., a furniture manufacturing and finishing contractor. Previously served as Chairman of Robac Resources and Venture Corp. and Philippine Woodworks and Manufacturing Corp. She was Vice-President of Electronic Power System Corporation and Administrative Officer of Aircon, Incorporated. Ms. Basa also serves as the Executive Vice President of CREBA-Chamber of the Real Estate Builders Association in the Philippines and is Chairman of the CREBA Social Housing Foundation. CREBA has more than 7,000 members. She previously served as Vice President of the Philippine Marketing Association and was Area Governor for Makati City, Philippines. She is a Director of CICA and is in charge of the Asian and China markets. She is currently President of a property development company called BLESS TAHANAN which is developing a $45.0 Million residential condominium project in the Philippines.
Daniel Lee Taylor Over the past 35 years, Daniel Taylor has successfully started business ventures in the entertainment, advertising, and international trade arenas. He has been involved in every aspect of the entertainment industry and was from 1996 to 2000 co-owner and President/COO of a nationally- distributed Record Label. Mr. Taylor is also currently a partner in a leading advertising firm in the Detroit, Michigan Area. Over the past 15 years, Mr. Taylor has earned a reputation as a leading consultant in the area of international finance and international trade. He currently serves as an independent Business Development Agent for the Bermuda Investment Advisor that manages over $250M in four different funds.
Baldomero C. Falcone Baldomero Falcone holds a Bachelor's Degree and Master of Arts in Philosophy from the University of San Carlos Graduate School. He also holds a Master in Business Management (MBA) form the Asian Institute of Management (AIM), a graduate business school jointly put up by Harvard University, the University of the Philippines, Ateneo University and LaSalle University. He is also a graduate of the Trust Institute Foundation of the Philippines (TIFP). He has provided management consultancy services to various agencies of the Philippine National Government and several private companies in the areas of marketing, tourism, credit, finance, and project securitization. He has significant equity interests in several private Philippine companies in the real estate, construction, telecom, cement, and service industries.
Susan N. Kelly Susan N. Kelly serves as Secretary of the Board of Directors and Corporate Treasurer . She is a seasoned businessowner and entrepeneur with her own specialty contracting company that services major areas of New Jersey. She brings to the management team her financial acumen and attention to details that have served her well in her own company’s business operations.
Jonathan V. Pansacola Jonathan Pansacola is a highly-experienced international marketing consultant with more than 20 years experience in marketing and communications, with a wide range of clientele in diverse sectors in Asia, Europe, North America, the Middle East and Africa. He has developed and implemented local and global integrated marketing programs for airlines, logistics companies, financial services, real estate companies and other industries for various companies located in New York, London, Paris, Geneva, Dubai, Jeddah, Doha, Kuwait, Hong Kong, Singapore, Manila and other markets. He is Senior Consultant with New York-based Airline Capital Associates, Director of Horizon Aviation Consultants of Kuwait, project consultant with JWT and a member of the American Management Association and the American Marketing Association.
<ul><li>Cherry Blossoms Towers Residential Condominium Project </li></ul><ul><li>Project Site: Newark, New Jersey </li></ul><ul><li>Project Cost: US$175 M </li></ul><ul><li>Project Status: </li></ul><ul><li>Twin tower 710 unit residential condominium project. </li></ul><ul><li>Master Plan, conceptual design and floor plan completed by the architects. </li></ul><ul><li>Joint Venture between GFFP and the very popular Spanish Manor Restaurant and Cocktail Lounge of Newark, New Jersey. </li></ul><ul><li>Architect: Global Han-Guk </li></ul><ul><li>Architectural & Engineering Co., Inc. </li></ul>GFFP Projects
<ul><li>Global Manor 1 Residential Condominium Project </li></ul><ul><li>Project Site: Manila and other sites in the Philippines </li></ul><ul><li>Project Cost: US$ 5.25 M </li></ul><ul><li>Project Status: </li></ul><ul><li>15 sites identified throughout the Philippines – mostly urban centers. </li></ul><ul><li>Conceptual design and floor plan have been completed. </li></ul><ul><li>Government permits are now being processed. </li></ul><ul><li>Condominium units are being targeted at Overseas Filipinos, who number more than 10 million, remitting more than $15 B every year. </li></ul>
Gapsa Hotel Project 4-star Resort Hotel Project Project Site: South Korea Project Cost: US$ 22 M <ul><li>Project Status : </li></ul><ul><li>180 room 4-star hotel in Gong Ju City, Ching Nam Province, South Korea. </li></ul><ul><li>Structural shell is already built. </li></ul><ul><li>Hotel to be converted into a timeshare property to be listed with an international timeshare exchange company. </li></ul>
East Orange, New Jersey Residential Condominium 45 – unit residential project Project Cost: US$ 7 M <ul><li>Project Status : </li></ul><ul><li>Feasibility Study completed. </li></ul><ul><li>Architectural and engineering work in progress. </li></ul><ul><li>Relevant building permits being applied for. </li></ul><ul><li>Project Funding also being worked on.. </li></ul>
South Korea <ul><li>Global First Financial Partners (Korea), Inc. </li></ul>SUBSIDIARIES & AFFILIATES Philippines <ul><li>Global First Financial Partners Philippines </li></ul>U.S.A. <ul><li>Global Industrial Equipment Leasing (GIEL) </li></ul>U.S.A. <ul><li>Credit Insurance Corporation of America (CICA) </li></ul>Credit Insurance Corporation of America, Inc. Global Industrial Equipment Leasing Inc. Partners & Affiliates U.S.A. <ul><li>Global Han-Guk Architecture & Engineering </li></ul>Global Han-Guk Architecture & Engineering, Co. Inc.
PROJECT PARTNERS Cherry Blossoms Tower <ul><li>Spanish Manor Restaurant, New Jersey, USA </li></ul>Global Manor 1 <ul><li>Global First Financial Partners Philippines </li></ul>GAPSA Hotel <ul><li>Gee Cheon D & C Ltd. South Korea </li></ul><ul><li>82 Clinton Realty Corporation </li></ul>East Orange Condominium
Underwriter/Placement Agent <ul><li>Cabrera Capital Markets, Inc. </li></ul><ul><li>The Westbury Group </li></ul>GPFP SUPPORT GROUPS Trustee Banks <ul><li>Banco Popular </li></ul><ul><li>Commerce Bank </li></ul>Global Contractors & Construction Management <ul><li>Han Guk Architectural & Engineering Corporation . of South Korea </li></ul>Credit Insurance Provider <ul><li>Azeguradora Mundial Coface Insurance </li></ul>Guarantee Intermediary <ul><li>Credit Insurance Corporation of America (CICA) </li></ul>
This Deal Summary is prepared for the evaluation of the prospective strategic investors and institutions that can provide funds to cover the expenses prior to closing. This presentation has been prepared and issued by Global First Financial Partners, Inc (GFFP). This is subject to change, as this is just an indication of what the deal is all about. It is not a research report and must be read in conjunction with and with reference to the project documents prepared by GFFP. This material is an indicative Deal Summary only, and GFFP is not soliciting any action based upon it and does not guarantee or imply that a transaction can be effected on these terms or any others. Similarly, GFFP is not undertaking or committing to underwrite any offering of securities. It is based upon information that GFFP considers to be reliable, but GFFP does not represent that it is accurate or complete, and it should not be relied upon as such. Any views expressed are GFFP’s current views as of the date appearing on this material only. GFFP makes no representations and has given no advice relative hereto, including advice concerning the appropriate accounting treatment or possible tax, accounting or legal consequences of any potential transaction. GFFP analyses are not and do not purport to be appraisals of the value of any investments, securities, assets or business of the recipient hereof, and any projections are merely estimates based upon GFFP’s good faith and views as of the date hereof. Disclaimer
Thank you for your time. We look forward to working with your organization. Global First Financial Partners, LLC A Delaware Company 211 Warren Street, Suite 414 Newark, New Jersey 07103 United States of America Telephone: (908-463-9417 Fax: (908-845-0303 E-mail : [email_address] et Website : www.globalfirstfinancial.net