PORT ELYSIUM
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Request Access ← Back to Port ElysiumEntry at $210M pre-money: a 50.6% discount to independently assessed asset value. A first-mover position in the Caribbean's last large-scale development platform, combining deep asset backing with vertically integrated operating upside.
Port Elysium controls 1,100 acres of freehold land on Long Island (independently appraised at ~$425M) with a pre-money valuation of $210M. That represents a 50.6% discount to assessed asset value.
The discount exists because the platform is dormant. There is no active sales engine, no development capital, and no institutional governance in place. Legacy interests add title friction. The asset base is real; the operating platform is not yet built.
The Seed round removes that friction. It funds a clean legacy exit, a 25-workstream feasibility programme, early development activation, and the institutional infrastructure required to re-rate the platform from dormant land holding to capitalised, governed investment vehicle.
This is a transition-stage entry. Investors acquire a large equity position at a deep discount, before the platform is activated and before institutional re-pricing takes effect.
Deep Discount to Asset Value: 50.6% below independently appraised portfolio. Entry at $210M on $425M assessed value.
Activation as the Re-Rating Event: legacy clean-up, feasibility, and early revenue convert a dormant platform into an investable, governed vehicle.
First-Mover Lock-In: no competing institutional-scale development on Long Island. Permanent structural advantage on 1,100 freehold acres.
Asset Backing Plus Platform Upside: downside protected by freehold land and infrastructure value; upside driven by a vertically integrated operating economy.
Zero-Tax Jurisdiction: no income, capital gains, inheritance, wealth or corporate tax. USD-pegged currency. English common law. Permanent residency from $1M.
Port Elysium is not a developer that builds and exits. It is a permanent operating platform: a vertically integrated island economy where every essential service is owned by the estate.
28 operating SPVs span marina, hotels, utilities, food systems, wellness, education, mobility, and agriculture. Revenue begins in Year 1 and scales with occupancy as the community grows toward a stabilised population of approximately 12,000 residents, guests, and staff.
At maturity, the platform generates $424M in stabilised net retained NOI across all operating verticals: a captive, recurring income base anchored by 2,200+ resident households who form the permanent customer base.
Six Structural Advantages: freehold title on 1,100 acres; no competing institutional infrastructure on Long Island; captive recurring-income model across 2,200+ households; permanent community, not a resort; vertically integrated across all operating verticals; zero-tax jurisdiction under English common law.
The current Seed entry valuation of $210M sits below the independently assessed gross asset value of $357–360M nominal (~$424M inflation-adjusted to 2026$). This asset base provides structural downside support: even before the operating platform is built, the underlying land and infrastructure carry independently verified value that exceeds the entry price.
Appraised values reflect orderly sell-out assumptions at the dates of valuation. They do not represent enterprise value or guaranteed realisable amounts.
~882 acres. H.G. Christie Ltd (Aug 2018). 76 subdivided lots with planning consent. Legacy masterplan: 1,217 residential keys, 224 hotel keys, 640-berth marina, 18-hole golf course.
~211 acres. Seastone Homes Bahamas (Jun 2024). Fully subdivided, serviced and individually titled.
23 plots. Verbal estimate (Jun 2024). Zoned for higher-density residential and hospitality.
~18.8 acres. Savills (Sep 2007). Sea-front hotel development site with planning permission for 184 hotel keys.
~38 keys, ~5 acres. Operating seafront resort with F&B facilities.
2 aircraft. C6-registered operating licence.
Total Priced Assets: ~$357–360M nominal, ~$424M adjusted.
Strategic Assets (unpriced): Planning Permission (legacy masterplan covering ~882 acres), Real Estate Brokerage Licence (BREA licensed).
Total equity of $330M is raised across three rounds: Seed $80M (M1), Series A $50M (M9), and Series B $200M (M16). Equity sits as first-loss capital beneath all project debt, funding the early-phase timing gap before contracted pre-sales convert into cash. Each round is priced at a higher valuation, protecting earlier investors from dilution.
The development facility funds the core construction programme: phased residential delivery, marina infrastructure, and SPV build-out. It bridges the gap between construction start and the point at which contracted sales proceeds convert into cash through the staged escrow process. The facility peaks at $587M in Month 44 and is fully retired by Month 54 from consolidated project cash flows. The structure is self-liquidating: residential pre-sales fund the build-out and retire development debt without requiring refinancing or additional equity.
The off-plan villa programme ($2,650M GDV across 393 villas) operates through a separate, self-funded cash engine. Buyer deposits fund delivery through staged escrow milestones. This programme does not draw on the core development facility and does not create additional lender exposure. It adds substantial sales value through an independent funding channel.
Peak debt of $587M represents 10.4% of total development cost (modest leverage relative to the scale of the project). Only the debt-funded delivery scope sits on the core facility; the off-plan programme, marina sales, and equity-funded early works operate outside it. A ring-fenced EXIM facility ($40M) provides separate long-term infrastructure financing at concessional rates, amortising post-construction. By Month 54, the platform is debt-free apart from the EXIM amortisation schedule.
Supporting Credit Metrics: 3.5× pre-sale cover | 24.2× project DSCR | LTE 1.56× | Debt headroom $613M within $1,200M facility | WACD 6.9%
Contracted Sales at Peak: $705M in contracted sales proceeds at peak debt provide 1.20× point-in-time coverage over the $587M facility balance, supported by the escrow milestone structure across all active residential phases.
The Seed round buys 27.6% of the equity at a pre-money valuation of $210M (a 50.6% discount to the $425M independently appraised asset value). All land is held on freehold title within a Jersey-registered HoldCo under English common law.
Distributions begin in Year 5. Cumulative distributions of $2,472M across all investor classes (Y5–Y10). Base case MOIC of 14.2× at Year 10 across $330M total equity invested.
Seed ownership steps from 27.6% → 25.5% at Series A ($600M pre-money) → 20.4% at Series B ($800M pre-money). Each subsequent round is priced at a higher valuation; no down-round dilution. No Series C or D is currently planned.
Conservative exit multiples produce a blended 9.1% cap rate at stabilisation. DCF enterprise value of $3,300M (10% WACC, 2% terminal growth, 6.5% exit cap rate). TEV of $4,689M at Year 10. Twelve scenario stress-tests confirm resilience across cyclical, cost, demand, and weather disruptions.
All Classes Combined
Base Case
Y5–Y10
All Rounds
Y7 MOIC: 11.8× | IRR (Y7): 42.8% | Cumulative Distributions (Y7): ~$280M
Cumulative Distributions (Y7): ~$85M
Cumulative Distributions (Y7): ~$275M
Note: All MOIC and IRR figures are gross of carry, tax and transaction costs; pre-dilution by reserved option pool. Distributions gated by DSCR ≥1.20× and cash reserve. Founder/Legacy retains 53.5%. Returns from live financial model (19 April 2026 v1.0).
The Seed round is the capital that removes legacy friction, funds the technical programme, activates the early revenue base, and positions the project for institutional re-rating and the next equity round.
~$50M
Full warranted buyout of all outstanding legacy interests at assessed value. Clears competing claims on 1,100 acres and transfers clean freehold title to Jersey HoldCo. Eliminates 30+ years of title complexity.
~$4M
Funds 25 parallel workstreams across planning, engineering, environmental, commercial, legal and financial disciplines. Delivers 37 client-ready deliverables within 12 months. De-risks Series B pricing.
~$16M
Activates 40-apartment fit-out at Stella Maris Village and SMRC hotel renovation to 60+ keys. Generates hotel revenue and rental income from Month 6. Demonstrates build quality and delivery speed to Series B lenders.
~$5M
Covers senior management team build-out, sales and marketing programme, brand development, legal and administrative infrastructure. Sustains full operations for 24+ months, bridging to Series B close.
All assets held within a Jersey-registered entity under English common law, the world's leading offshore financial centre for institutional real estate.
Five operating company subsidiaries (marina, hotel, residential, retail, infrastructure) each hold their respective assets in isolation.
IPLA and BIA approvals obtained pre-close. CBB approval confirmed before investor capital is deployed.
All dividends and disposal proceeds repatriated free of Bahamian tax (zero withholding). No UK, EU or US withholding tax on Jersey company distributions.
Seed investor seat on HoldCo Board with full access to management accounts, quarterly reporting, and annual audit.
Weighted average anti-dilution protection. Full ratchet available on request.
Pre-emption rights on all future equity issuances. Standard tag-along and drag-along provisions.
Contractual liquidity mechanism from Year 4. Preferred shares with 8% cumulative preference return from close.
Institutional-grade reporting: quarterly management accounts, annual independent audit, monthly operational KPIs. Existing investor protections support a cornerstone participation pathway with reserved follow-on rights in Series A and Series B.
Constitutional governance rights over founding vision, environmental standards, architectural quality. Veto rights protect long-term character.
Strategic direction, investor relations, capital deployment. Executive Directors (founders), Non-Executive Directors (investor representatives) and Independent Directors.
Senior international advisors in hospitality, marina development, ESG, legal, government relations. Advisory engagement only, not fiduciaries.
The investment structure supports multiple independent exit routes. No single heroic exit assumption is required; liquidity is achievable through several credible pathways, individually or in combination.
Year 6–7. Once stabilised NOI, diversified revenue and institutional governance are in place.
Year 5+. Conversion of stabilised marina, hotel and residential services into a dividend-paying vehicle at 5–7% yield.
Year 5+. Direct acquisition by sovereign wealth fund, family office, global hotel group or luxury brand at 8–12× EBITDA.
Year 4+. Structured refinancing against NOI to return capital while retaining equity upside.
Individual disposal of ring-fenced SPVs: marina OpCo, golf entity, hotel clusters, or branded residential portfolio. Ongoing liquidity events throughout the development cycle.
Liquidity pathway embedded in the Seed investor shareholder agreement from Year 4.
Ready to discuss the investment opportunity? Book a video call with a member of the team, or reach us directly on WhatsApp.