<p><strong>Italy</strong><strong> LUXURY HOTEL, GOLF &amp; SPA RESORT </strong><strong>IN TUSCANY</strong><strong> </strong><strong>A RENOVATION PROJECT FOR A BOUTIQUE HOTEL AND VILLAS IN TUSCANY 1,687 Acres (683,0 Hectares)</strong></p>
<p>LUXURY HOTEL, GOLF &amp; SPA RESORT</p>
<p><strong>The development opportunity consists of:</strong></p>
<p>&bull; A luxury internationally branded hotel consisting of 110 rooms and suites in the old Borgo and Castillo .</p>
<p>&bull; An 18-hole golf course in the valley below the Castle;</p>
<p>&bull; Branded Residential (12,602m2) including new-build golf villas, and the restoration of 26 charming pod ere;</p>
<p>&bull; A luxury hotel (5*) through the creation of a high-end Wellness Spa in the Terme ,</p>
<p>&bull; All this surrounded by about 900 hectares of agricultural area for the production of organic food to</p>
<p>serve the Hotels.</p>
<p>&bull; Two top-international operators with highly visible and</p>
<p>regarded brands have issued Expressions of Interest.</p>
<p>These brands are fully suitable both for the hotel</p>
<p>operation and have demonstrated track record on the</p>
<p>branded residential side.</p>
<p>====================================</p>
<p>The core of the resort will be the converted this Resort.</p>
<p>Preliminary plans show potential for 75 guestrooms in the main</p>
<p>building, plus an additional 35 guestrooms in the nearby</p>
<p><span style="color: #ff0000;"><strong>CATEGORY MIX NO. NIA PERKEY</strong></span></p>
<p>Standard 30% 33 39 &ndash;48M2</p>
<p>Superior 52% 57 49 &ndash;55M2</p>
<p>Suites 18% 20 57 &ndash;151M2</p>
<p>TOTAL 100% 110</p>
<p>The Resort is an exclusive luxury</p>
<p><strong>The development opportunity located in the heart of Tuscany.</strong></p>
<p>The Development Group</p>
<p>Studio and OM3 have joined forces for this and other projects in Italy.</p>
<p>Studio has over 35 years of experience in real estate and hospitality</p>
<p>development in Tuscany, including among others two Hapimag projects. OM3</p>
<p>has over 21 years of experience in hotel development and has developed over</p>
<p>EUR 1.3 billion of international hospitality properties on three continents.</p>
<p>Among others, the group is currently developing a project similar to this one</p>
<p>on the Costa del Sol in Spain and a Ritz-Carlton hotel in Lima(Peru).</p>
<p>&bull; Project Characteristics</p>
<p>&bull; Borgo e Castello, luxury hotel</p>
<p>&bull; Branded Residential</p>
<p>&bull; Golf Clubhouse</p>
<p>&bull; Hotel 5-star Terme</p>
<p>Total built up area</p>
<p>15.050 m2</p>
<p>12.602 m2</p>
<p>1.300 m2</p>
<p>5.466 m2</p>
<p>35.039m2</p>
<p><strong>Project Investment</strong></p>
<p>Land acquisition &euro; 28.140.000</p>
<p>Soft Costs &euro; 28.876.000</p>
<p>Construction &euro; 89.383.000</p>
<p>FF&amp;E and OS&amp;E &euro; 21.362.000</p>
<p>Financial costs during construction &euro; 3.121.000</p>
<p>Contingency &euro; 4.265.000</p>
<p>Total investment &euro; 175.146.000</p>
<p><strong>Note:&nbsp;To move forward:&nbsp;</strong></p>
<p><strong>&nbsp;</strong></p>
<ul>
<li><strong>-&nbsp;&nbsp;Buyer / Buyer Rep to sign asset specific NCND/MFA&nbsp;</strong></li>
<li><strong>-&nbsp;&nbsp;Buyer to submit Non-binding LOI and POF to connect with seller.&nbsp;</strong></li>
</ul>