From: "Laird Bunch" <[email-masked]>
To: <[email-masked]>, "Mark Prossner" <[email-masked]>
Cc: <[email-masked]>
Date: Mon, 7 Mar 2011 17:02:21 -0500

Sassafras river Club 

LLC

Kevin and Mark:

 

As we have discussed, Chaffin Light Management “CLM” is planning a private recreational club community on the Eastern Shore of Maryland.  The community is envisioned as a multi-generational, multiple amenity sporting club “retreat” within 1 to 2 ½  hours of New York, Philadelphia, Baltimore, Washington D.C. and Wilmington.  We believe that “drive to” products will be very much in demand as a “smart choice” in the next decade.

The product offering will be varied, appealing to diverse market segments.  Products include whole ownership cottages, cottages within a residence club structure and memberships available to non-real estate owners.

Some key attractive marketing points are:

*         Location:  There is a population base of 14 million+ within a 1 - 2 ½ hour driving distance.

*         Barrier to entry:  There are no high-quality, Chaffin Light caliber sporting clubs on the Eastern Shore.  Current zoning severely restricts future developments that could provide the same amenities with such access and proximity to water in the Chesapeake Bay Area.

*         Existing Amenities:  Sales can begin immediately with the existing amenities in place.  The Manor House (38,000 square feet) provides an elegant and immediate benefit for members to enjoy lodging and dining on property.  Other immediate benefits for members include boating access, fishing, bird hunting, walking trails, and convenient access to all that the Eastern Shore offers.

Key “Deal Points” include:

*        The sellers are participating in the deal as the land partner.

*        The current lender is taking a partial pay-down and staying in the deal.

*        We have strong support from the Cecil County Planning Commission and the Chesapeake Bay Critical Area Commission.

*        Nationally respected Robert Charles Lesser and Company has issued a very positive market study.  We are using their findings in our sales and price assumptions.

*        The projected IRR and Equity “multiple” are compelling and provide a significant cushion of safety, regardless of the economic climate of the next few years.

If you would like to access the Offering Memorandum and Exhibits, please complete the attached Investor questionnaire and return via email to [email-masked] and [email-masked] or fax to 843.987.2706. Once we have received the executed version we will send you a link and password for access via email. 

We look forward to exploring this opportunity with you.

 

James J. Chaffin, Jr.                                                      Laird C. Bunch                         

President CLM                                                             Partner SRC LLC

 

16 Chechessee Creek Drive * Okatie, SC  29909 * (843) 987-2006 * Fax (843) 987-2706

24398 Hwy. 82 * P.O. Box 620 ● Basalt, CO 81623 * (970) 927-1100 * Fax (970) 927-8274

 

 

Laird C. Bunch

President and Owner | Brandywine Fine Properties Sotheby's International Realty     

Phone: 302.654.6500 ext.105 

Direct: 302.468.4256

Mobile: 302.275.0869 

Efax: 302.397.2671

www.BFPSIR.com

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