Hard Rock Megapolis Panama - Investors Thread

[Euroreal]

Hi guys I am just starting up this thread since I am sure there will be a need of some useful information exchange on this project. I am an investor in this project and am happy to find others out there with an interest here.

So far there has been no closings yet. According to my last contacts with the developer in November, it is just around the corner and the hotel is supposed to start operations in Q1 this year.

Terms and fees in the hotel management agreement where set in a separate contract at the time of purchasing agreement.

In terms of the total number of pure hotel units here, the number 1500-2000 appear too high. A big portion of the units are ordinary condos with an option to participate in the rental pool.

Will keep you all updated as more information is released.

[No-Non-Sense-Matt]

Curious -- what was the price of the units?

[Euroreal]

Launching prices for the 44 sqm condo hotel rooms where 130.000
For the bigger 62 sqm 1 br suites 180.000

So around 3000 / sqm

[EdBowers]

What are the terms if you place your condo/ hotel room in the pool?

[jsanticorp]

Hello Euroreal,

My name is Jaimes Santiago President and Co-Founder of Panatec Global Solutions and Panappvantage.com. We help develop industry standard mobile applications for Airlines, Auto dealerships ,Restaurants and Hotels across central America. We provide technology consultancy services for companies that are interested in leveraging brand awareness and staying up to date with technology.

That being said, I was wondering if you were interested in proposing the development of a full feature mobile applications for the megapolis/hard rock cafe project. To see the kind of work we can provide go to an android or Iphone market place and download the Seminole Hard Rock Casino App. Great return on investment is experienced when companies purchase apps. Let me know if you would like to discuss further. Take care and good luck.


Thanks in advance,

Jaimes Santiago
Panatec Global Solutions
62346356

[Euroreal]

Acc to contract you are guaranteed a minimum of 35 USD net per day. Room rates over 100 will be split 50-50. So a room rate of 200 will give the owner 35+50=85.

Admin fees 2 usd / sqm

[BalaBeacher]

Are the Megapolis hotel-condo / regular condo units associated with Hotel Decapolis? if so, is there a complete separation of Hard Rock units and Decapolis units?

[EdBowers]

So a room rate of $150,= $35+$25 = $60? In other words do you mean that the owner gets 35% of the first $100 and 50 % after that.?

Acc to contract you are guaranteed a minimum of 35 USD net per day. Room rates over 100 will be split 50-50. So a room rate of 200 will give the owner 35+50=85.

Admin fees 2 usd / sqm

[Euroreal]

So a room rate of $150,= $35+$25 = $60? In other words do you mean that the owner gets 35% of the first $100 and 50 % after that.?

Yes that is correct

[BalaBeacher]

Technically, from what you're saying, the owner gets $35 a night EVEN IF the rental rate is less than $100. So, it could be higher than 35% if, say, the nightly rate is knocked down to $89. The owner still would get $35.

[Euroreal]

Technically, from what you're saying, the owner gets $35 a night EVEN IF the rental rate is less than $100. So, it could be higher than 35% if, say, the nightly rate is knocked down to $89. The owner still would get $35.

You are right again

[EdBowers]

So let's apply the projected 38 % occupancy rate for 2012 to say a room rate of $120. $6241.50 less 44m2 * $ 2 maintenance = $1,056
Net to owner:
$5,185.5 ?

Are there any other projected expenses for owners?

[Euroreal]

So let's apply the projected 38 % occupancy rate for 2012 to say a room rate of $120. $6241.50 less 44m2 * $ 2 maintenance = $1,056
Net to owner:
$5,185.5 ?

Are there any other projected expenses for owners?

Not to my knowledge.

[mrstamp]

Thanks Euroreal. I am invested in phase 1, but have not gotten any information on who can help with mortgage and when they plan to launch. Last I heard was December 2011 and then January 2012. I'll be sure to follow up on this thread as I'm sure more people are searching for similar answers.

[EdBowers]

I recommend doing all mortgage research yourself now and give yourself time to sell if you can't get one.

[Euroreal]

Thanks Euroreal. I am invested in phase 1, but have not gotten any information on who can help with mortgage and when they plan to launch. Last I heard was December 2011 and then January 2012. I'll be sure to follow up on this thread as I'm sure more people are searching for similar answers.

The developer came out with information about financing in October 2009 and they had a deadline that those that required mortgage had that approved by December 15 2009 (more than a year ago). So if you still have not arranged this (and is not a cash buyer) I absolutely recommend you to contact Jonathan Gonzales at the Megapolis Group, tel: (507) 208 2555 to get clarification about your options. I talked with him recently and he told me closing is within 2-3 weeks and the hotel operations will open within a month. He also told me that the Decapolis Hotel currently is running above 90% occupancy.

[Mordekha]

1. I heard that the $35 a night guarantee was only for the beginning.
2. The Decapolis next door is Co owned, so all reservations will first go there. Afterwards, the reservations will go to the Condo hotel units.

[Panama Happy]

Hi to everyone on the tread. I am invested in the Megapolis. I have been reading everything that I could on those blogging on Trump and now Megapolis. I would say based on having been involved since late December 2006. Do not get your hopes up on the Panama Banks lending money. The Panama banking system is very conservative. Before 2008 it was difficult I would say as of now, do not hold your breath on it. In essence, I had to secure the remainder of the money I needed for closing from the U.S.A.

Thanks Euroreal. I am invested in phase 1, but have not gotten any information on who can help with mortgage and when they plan to launch. Last I heard was December 2011 and then January 2012. I'll be sure to follow up on this thread as I'm sure more people are searching for similar answers.

[Mordekha]

Contact me of line.
I may be willing to provide financing,assuming you have a 50% down payment on the property.

[john richards]

Contact me of line.
I may be willing to provide financing,assuming you have a 50% down payment on the property.

how can you be contacted

[Mordekha]

You can send me a private message on this forum.

[panamacanada]

I have observed the closing of Megapolis is longer than expected, I also have observed it is hard to comment openly
on delays. The original timeframe for finishing this structure is long overdue. Do investors receive up to date information on this project? I have no ongoing updates, except when the hotel conversion upgrade was presented. Has anyone because of delays decided not to close?

[Euroreal]

I have observed the closing of Megapolis is longer than expected, I also have observed it is hard to comment openly
on delays. The original timeframe for finishing this structure is long overdue. Do investors receive up to date information on this project? I have no ongoing updates, except when the hotel conversion upgrade was presented. Has anyone because of delays decided not to close?

No there are no ongoing communication from developer to investors. I recommend that you speak to Jonathan Gonzales at the Megapolis Group.

[derek marlowe]

You expected normal updates and for transactions to handled in a professional manner?

This is Panama we are talking about so no normal updates from them in over 5 years is probably considered normal.

If they told us anything, it would most likely be a lie anyway.

[john richards]

any megapolis investors out there we need to talk so get in touch, a contract clause says we are entitled to a return of money
because they are overdue, and not pay interest or offering discounts or any recognition of using investors money for 4/5 years.

[john richards]

are u an investor

[john richards]

You expected normal updates and for transactions to handled in a professional manner?

This is Panama we are talking about so no normal updates from them in over 5 years is probably considered normal.

If they told us anything, it would most likely be a lie anyway.

are u an investor get in touch

[derek marlowe]

make a demand for the return of your money and let me know how it goes

[Nes]

are u an investor

Yes

[Nes]

What's the status of megapolis 3/12 any buyers for 43sq. Meter condo...We hear that megapolis is sold out....