Loading...
May 20 Presentation Portman Holdings PPTDesign Process Jack Portman Vice Chairman, Portman Holdings Vice Chairman, John Portman & Associates Responding to Context | The Site | Urban Design CONVENTION CENTER DRIVE 17STREET TH Responding to Context | The Site | Urban Design Responding to Context | The Neighbors | Urban Design : connection Responding to Context | The Neighbors | Urban Design : cooperation Responding to Context | The Neighbors | Urban Design : defining 17street th Responding to Context | The Neighbors | Urban Design : creating an entrance White, Light, Expressive Shaping the Pedestrian Experience VIEW Walking North along Pennsylvania Avenue VIEW Arcade Walkway along 17 th Street Arcade VIEW Shaping the Pedestrian Experience VIEW Shaping the Experience Shaping the Experience –Street Level SPA & FITNESS GRAND BALLROOM ATRIUM JUNIOR BALLROOM 1 PARKING PARKING PARKING Proposed Hotel Program 800 Keys • –701 Standard Guestrooms –99 Suites 95,210 SF of Leasable Meeting Space • •Amenities –Fitness Center –Multiple Pools –Spa –Business Center Five Food and Beverage Outlets • –300 Seat Full-Service Restaurant –130 Seat Pool Grille –120 Seat Rooftop Concept –180 Seat Lobby Lounge –40 Seat Cafe 320 Parking Spaces •(0.4 Space per Key) Shaping the Experience –Street Level MEETING ROOMS MEETING ROOMS GRAND BALLROOM JUNIOR BALLROOM 2PARKING PARKING RESTAURANT Shaping the Experience –Street Level PARKING Shaping the Experience –Level 7 Shaping the Experience View of the East Terrace View from the Cabanas View from the Lap Pool View with Flamingos View of the West Terrace Sunset View from the West Terrace Shaping the Experience –Level 11-24 Typical 52 bays per floor Shaping the Experience –Level 25 Rooftop Restaurant Sustainability Shaping the Experience Financials Ambrish Baisiwala CEO, Portman Holdings Approach to Capitalization •Entirely Privately Financed: NO PUBLIC FUNDS OR SUBSIDIES •Ownership assumes financing and financial guarantee risk •City benefits from long-term lease income Ground Lease Structure 99 Years •Term 4.0% •Rate of Gross Revenues first 4 years •Ramp up over •Rent Commencement occurs at hotel opening •Minimum Fixed Rent (“MFR”): 50% of Stabilized % Rent –MFR equals Total Forecasted & Minimum Ground Lease Rents Percentage Rent –ProjectedMinimum Fixed Rent –Floor Sum Total99 years$2.5B$708.3M NPV* –Today’s ImpliedValue$173.6M$70M NPV perAcre$ 65.5M / Acre *Assumes a 5% Discount Rate Debt + Equity •Approximate Capital Structure: $405M –Total Project Costs $243M –Senior Debt @ 60% $162M –Total Equity @ 40% $17M –Portman Equity  up to $145M –Institutional Investor  Debt + Equity •Portman has a proven track record of 60 years of raising debt and equity capital for project of this scope. •Primary Equity Sources: Insurance Companies, International and domestic Private Equity and Sovereign Wealth Funds •Primary Debt Sources: Large-scale money center banking institutions Timeline + Process A Message from the Chairman Thank you