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Strategic Ownership: MZJA Holdings Inc. owns 100% of the property and operates it through its fully-owned subsidiary, Grotto Getaway Ltd., under the established "Grotto Getaway" brand.
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Significant Property Value Growth: Acquired for ~$1.5M in 2021, the property's value surged to $3M by the end of 2022, with projected growth to over $8M by 2027, driven by an ambitious development plan.
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Revenue-Generating Campsite: Currently featuring 12 glamping tents, 11 trailers, and 4 gazebo sites, the property generated $434K in revenue in 2023, with plans to expand to 60 units by 2027, aiming for $1.5M+ in projected revenue.
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Clear Use of Proceeds: Proceeds from Class B shares will be used for renovations and construction ($1.015M), fees ($245K), and other operational costs ($250K), ensuring efficient capital utilization.
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First Mortgage and Debt Structure: A first mortgage of $1.97M with RBC, secured at a 7.64% annual interest rate, with a renewal expected in 2025, alongside $500K in promissory notes to the Principals of the company at 14%.
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Expert Management Team: Grotto Getaway Ltd. will handle all campsite operations, bookings, and staffing, with management fees kept at a competitive 5% of gross revenue for both asset and property management.
