Commercial Business Park Bakken Oil Boom Ground Zero, Watford City North Dakota
by Jason SImpson
We seek a loan of $3.5 million for the continued development of the premium Long X Business Park. Our Business Park is situated in what we will demonstrate as an idealistic location, creating a strong advantage over similar business parks in the area. Demand stems from the boom in oil and gas drilling in the area, which is primarily labour intensive, which is expected to grow further until 2025.
After many months of research, consultation, planning and preparation, we are now in a position to exploit the advantageous location and those favourable macro-economic conditions we have identified.
i. Key Points
• The Long X Business Park has all development approvals to commence Stage 1 of the works and is fully funded to complete this stage by August 31 2014.
• It is expected loan capital would be repaid as each lot is sold, this is anticipated to be within 12 months from the completion of stage one, repayments made by August 31st 2015.
• Within the vicinity of our Business Park location, commercial land currently sells north of $650,000 at Hunters Run and The Crossing and we have 38 acres in 11 lots currently for sale.
• McKenzie County where, Watford City is located, has more recoverable oil and gas than any other county in the Bakken region, making it most desirable location to establish business along with being a very central location.
• With an advantage over other sites in terms of location; all Bakken traffic North, South, East and West travelling right by our site, we feel confident that loan capital will be repaid in full by August 31st 2015.
• Proven demand for services, demonstrated by similar business parks help us to re-assure you that we will repay capital in full by August 31st 2015.
• Capital re-payment based on projected sales finds further strength in our first tenant on a 2.2 acre plot, from Marriott Hotels Inc., a premium anchor business.
• With accessible capital of $500,000 we hope this will reassure you that any loan capital introduced will be safe in any worst case scenario, where we do not make projected sales we have US based assets of $3,420,000.
• Minimum requirement for finance as of August 31st is $3,500,000 in order to refinance existing debt and complete development works further into stage 2 completion by May 30th 2015.
Link Full prospectus: http://goo.gl/gHAeQG