FEATURES & ATTRACTIONS

• Five-star Beachfront Resort
• 410 feet of the best beach in Playa del Carmen, on a 6.2-acre site
• Architecture by internationally-renowned
  architect Ricardo Legorreta
• Sophisticated custom furnishings
• Exotic finishes
• Balcony plunge pools
• Studio rooms, one-, two- and three-bedroom suites
• World-Class Spa and fitness center
• Beach club with water activities
• Outdoor pool and dining area
• Destination dining and lounge

AMENITIES & SERVICES

• The area’s highest level of services, amenities and design
• Leading-edge technology
• 24/7 concierge services
• Year-round property management services

INVESTMENT HIGHLIGHTS

232 Five Star Hotel-Condos on the beach in Playa del Carmen, Mexico, 40 miles south of Cancun on the eastern shore of the Yucatan Peninsula. The greater area is known locally as the “Riviera Maya” or the Mayan Riviera to tourists. Cielo is positioned on the widest and best beach in Playa del Carmen, encompassing over 6 acres with 410 feet of oceanfront white sand beach and calm, turquoise water

Contemporary and timeless architectural design by internationally renowned Ricardo Legorretta, AIA Gold Medal Winner, 2000 (same award bestowed upon Frank Lloyd Wright and Frank Gehry). http://www.greatbuildings.com/architect
/Ricardo_Legorreta.html

Developed and managed by the award-winning KOR Hotel Group (www.thekorgroup.com). A privately held real estate investment, development and management firm with a $1 billion asset portfolio and another $1 billion in development domestically and internationally. Kor’s flagship properties include Viceroy Hotels (Los Angeles, Palm Springs, Miami, Anguilla), The Tides (Miami), and the Eastern Columbia & Broadway historical building loft conversions (Los Angeles).

Five Star hotel amenities include: 7,000 square foot world-class spa and fitness center, fine dining restaurant and lounge, 24 hour room service & concierge, valet parking, upscale beach club and large outdoor pool area.

Whole-ownership, fully furnished studios and one, two or three bedroom units featuring fully equipped, stainless-steel kitchens, sumptuous furnishings, entertainment centers, ocean views, deep soaking tubs, and private plunge pools in select units.

ABOUT PLAYA DEL CARMEN

The Riviera Maya is famous for its white sandy beaches, unparalleled scuba-diving and well-preserved Mayan ruins that have attracted tourists to the area for several decades. What was originally a sleepy fishing village, Playa del Carmen is characterized now by its lively beachfront activity and the charming and increasingly-upscale retail and entertainment options on the pedestrian-only 5th Avenue. Playa del Carmen is a charming international city where English is the second language and Spanish, Italian, French, German and Portuguese are common

AREA ANALYSIS

Real estate values in the majority of the Riviera Maya are appreciating at a rate of more than 25% per year.

Over the past 3 years the Riviera Maya has had occupancy rates of over 80% region wide.

Tourism in the Mayan Rivera increased 27% from 1998 to 2005 growing from 600,000 visitors to 2.4 million and continues to grow today. By comparison, Cancun experienced only 4% growth in the same time frame.

There is full employment in the Mexican state of Quintana Roo

Zoning restrictions are in place to maintain the original character of the town, limiting hotels to 25 rooms or less per acre, with heights limited to 40 feet.

The Riviera Maya is rapidly developing into a five star destination: St. Regis, W Hotels, Four Seasons, (Orient Express), Fairmont, Viceroy, Rosewood, Banyan Tree and La Casa Que Qanta all have hotels and residential developments completed or opening in 2006

Cancun is the gateway to the Riviera Maya and the airport has the best international airlift from the United States, Europe, Mexico or the Caribbean. More than 25 US cities have direct flights to Cancun with a maximum travel time of four and a half hours. There are also more than 15 European gateway cities on regular scheduled flights.

RESORT AND SPA OVERVIEW

The Cielo/El Tukan site is the last remaining large beach front parcel in downtown Playa del Carmen

3-minute walk from hotel to cafes, bars, restaurants and upscale retail on 5th Avenue

The only hotel-condo development on the beach with five star hotel service and amenities

Cielo/El Tukan offers studios, one, two and three bedroom units, ranging from 800 interior square feet for studios to more than 3,000 interior square feet for 3 bedroom units. Prices range from $380,000 to $2.5 million on average for units by type. Each unit is fully furnished and equipped:

• Comfortable contemporary furnishings
• Entertainment centers
• Deep soaking tubs
• All units have ocean or courtyard views

• Fully equipped stainless steel kitchens
• High-end finishes
• Private plunge pools

HOTEL AMENITIES

• Five star premium finishes with Boutique hotel feel
• Five star service levels
• Fine dining restaurant and lounge
• 24 hour room service
• Large Outdoor Pool

• Concierge services
• 7000 square foot world-class health spa and fitness center
• In-house deli to provide pre-arrival shopping & delivery
• Valet parking
• Upscale, private beach club adjacent to the popular
  El Tukan and Mamitas Beach Clubs

INVESTMENT DETAILS

Professionally managed and developed by international developer/operator-KOR Hotel Group (www.korhotelgroup.com) to maximize owner returns
Lock-off units available to maximize owner rental returns
Attractive payment schedule of 20% down (May 06) and 80% at completion/titling (Spring 2008)
Individual titles will be insured by Stewart Title of Mexico in Houston, TX
Construction warranty
Condo/Hotel completion date is expected to be early to mid 2008
Full purchase price on all contracts to allow potential financing and lower capital gains.