Awaysis Capital, Inc. (‘Awaysis’) operates as a real estate management and hospitality company focused on acquisition, redevelopment, sales, and managing rentals of residential vacation home communities in desirable travel destinations.
The company seeks to create value through the targeting and acquisition, development, and up-cycling, rebranding, and repositioning of currently undervalued operating and shovel-ready residential/resort communities in global travel destinations, with the intenti...
Awaysis Capital, Inc. (‘Awaysis’) operates as a real estate management and hospitality company focused on acquisition, redevelopment, sales, and managing rentals of residential vacation home communities in desirable travel destinations.
The company seeks to create value through the targeting and acquisition, development, and up-cycling, rebranding, and repositioning of currently undervalued operating and shovel-ready residential/resort communities in global travel destinations, with the intention to relaunch these assets under the ‘Awaysis’ brand, with the goals of creating a network of residential and resort enclave communities that will optimize both sales and rental revenues, providing attractive returns to owners, and exceptional vacation experiences to travelers.
As such, the company intends to purchase the real estate and finish the development; then it would sell the finished units to individual buyers and put them in a rental pool that it would manage.
The company seeks to own, grow, and manage a stable, cash-generating, diversified portfolio of single-family and luxury resort/residence properties in the Caribbean, Europe, South America, and the United States.
The company is a licensed real estate corporation in the State of Florida and maintains compliance with the Florida Real Estate Commission, the entity that regulates companies providing real estate services, such as rentals, management, and sales. Additionally, the company’s business is subject to federal, state, local, and foreign laws, rules, and regulations that may vary depending on the geographical location and classification of its individual properties.
The company’s business strategy entails targeting and identifying undervalued assets in emerging markets located in proximity to high-demand travel destinations. The company intends to focus these efforts on shovel-ready properties and/or other assets. It has currently identified five properties in Belize, all of which are expected to constitute its initial real estate portfolio.
The Casamora Awaysis Assets is in San Pedro, Belize, minutes away from the town core, and is a 22-unit property, representing 45,206 square feet, and is expected to feature a wellness spa and fitness facility, restaurant, executive remote work center, private rooftop lounge, lap pool, beach bar, and waterfront esplanade. It consists of the following:
A rectangular-shaped parcel with 100.0 feet of street frontage containing a 9,100 sq. ft. two-story reinforced concrete building, with 2,173 sq. ft. of basement, a 1,600 sq. ft. porch/deck, and a 3,062 sq. ft. terrace. The plan for this building is to have: on the ground floor, a state-of-the-art fitness facility and wellness spa; on the second floor, an executive conference center, a Yoga/Pilates studio with individual massage rooms associated with a planned wellness spa, and access to the porch/deck; and on the third floor, a members-only rooftop patio and lounge. The project is targeted for completion by June 2025.
A rectangular-shaped parcel with 100.0 ft. of frontage on the beach reserve and the Caribbean Sea having a total square footage of 13,590 sq. ft. The lot is elevated, sandy, has a reinforced concrete seawall, and currently contains two double-story concrete buildings. The northernmost building has four 1-bedroom, 1-bath units, each with a living room, kitchen, and covered porches. The southernmost building has two 1-bedroom, 1-bath units, each with a living room and kitchen on the ground floor and one 3-bedroom, 2-bath unfinished unit on the second floor, each with their own covered porches. Currently, these existing units, while pending renovations, are available to be rented and generate hospitality revenues. The plan is to eventually renovate all these units into more modern, luxury boutique waterfront villas. This project is targeted for completion by June 2024.
3,825 sq. ft. of raw open land with 105 feet of street frontage. There is a main single-level concrete building having dimensions of 14.0 ft. by 14.0 ft. and consisting of a reinforced concrete foundation and reinforced concrete floors. In addition, there is a wooden bar open area with shade, having dimensions of 14.0 ft. by 16.0 ft., as well as a single-level wooden structure having dimensions of 16.0 ft. by 24.0 ft., plus a 10 ft. by 24 ft. front shade that are currently rented by third-party proprietors contributing to the hospitality revenues. The planned use for this land is expected to serve both the patio extension and parking area for a planned ground floor café.
1,717.83 sq. ft. of elevated land containing a three-story concrete building having dimensions of approximately 31.0 ft. by 41.0 ft., plus covered concrete porches on each floor of approximately 15.0 ft. by 18 ft. The ground floor unit is approximately 80% complete, and the company has executed a letter of intent from a real estate brokerage firm to lease the unit as a sales office. The second-floor unit is under renovations and is planned for residential use as a 2-bedroom, 2-bath unit. The penthouse unit is a 3-bedroom, 2-bath that the company currently plans to remodel with a dining room, living room, kitchen, and small balcony facing the ocean. There is also an open-air patio situated above the covered patio of the penthouse, which provides sweeping views of the ocean, as well as sunset views over the lagoon side. This is targeted to be completed by June 2024.
A four-story condominium complex that sits atop 20,995 sq. ft. of oceanfront land and comprises twenty individual 2-bedroom, 2-bathroom ocean view condo suites, of which twelve are owned by Awaysis. The company’s units are being fully renovated and targeted for completion by the end of 2024. Of the remaining eight units that are owned by third parties, five units are still being renovated while the other three are fully furnished and under rental agreements and Homeowner’s Association (HOA) management agreements with their owners to generate hospitality revenues. The twelve units owned by Awaysis are further described below:
Two 1,380 sq. ft. ground floor units, including a covered balcony/porch, the plan of which is to renovate each into a 2-bedroom, 2-bath high-end condominium unit with a living room, dining area, and kitchen. The units have an unobstructed view of the ocean and overlook the pool and main ground garden landscape.
Two 1,455 sq. ft. ground floor units, including a covered balcony/porch, the plan of which is to renovate each into a 2-bedroom, 2-bath high-end condominium unit with a living room, dining area, and kitchen. The units have an unobstructed view of the ocean and overlook the pool and main ground garden landscape.
A 1,380 sq. ft. second floor unit, including a covered balcony/porch, the plan of which is to renovate into a 2-bedroom, 2-bath high-end condominium unit with a living room, dining area, and kitchen. The unit has an unobstructed view of the ocean and overlooks the pool and main ground garden landscape.
Three 1,455 sq. ft. second floor units, including a covered balcony/porch, the plan of which is to renovate each into a 2-bedroom, 2-bath high-end condominium unit with a living room, dining area, and kitchen. The units have an unobstructed view of the ocean and overlook the pool and main ground garden landscape.
Three 1,455 sq. ft. third floor units, including a covered balcony/porch, the plan of which is to renovate each into a 2-bedroom, 2-bath high-end condominium unit with a living room, dining area, and kitchen. The units have an unobstructed view of the ocean and overlook the pool and main ground garden landscape.
A 1,380 sq. ft. third floor unit, including a covered balcony/porch, the plan of which is to renovate into a 2-bedroom, 2-bath high-end condominium unit with a living room, dining area, and kitchen. The unit has an unobstructed view of the ocean and overlooks the pool and main ground garden landscape.
The company’s business is expected to include real estate development and sales, hospitality rentals, resort operations, and club management. Revenues are expected to come from: selling the company’s own developed resort inventory that includes condominiums, single-family homes, and villas; providing management services to the company’s branded resorts under HOA management agreements; and managing short-term unit rentals of sold and unsold inventory at the resorts it owns or manages.
The Casamora Awaysis development, its first property, has started its hospitality operations and has commenced sales operations on or about June 1, 2023.
As of June 30, 2024, Awaysis had a total of six units available for rent. Four of these units consist of company-owned villas. The company maintains a rental agreement with the owners of the other two units, both of which are a part of the company’s rental pool. Awaysis has also entered into a one-year lease agreement, effective April 1, 2024, on a three-bedroom condominium located in the commercial building adjacent to the Casamora Resort Property. This unit has been listed for sale.
Marketing and Sales Activities
The company’s planned marketing and sales activities are expected to be based on targeted direct marketing and a highly personalized sales approach. The company intends to use targeted direct marketing to reach potential purchasers of units or sell through a licensed distribution network of both in-market and off-site sales centers. The company’s products are expected to be marketed for sale or rent globally. The company intends to offer owner financing up to 50% of the price of the units. In its current form, the offering of owner financing allows a buyer to pay a minimum of 50% of the purchase price at closing. The remaining balance is to be paid off by giving a mortgage to Awaysis that is registered on title at an interest rate that is slightly higher than commercially available interest rates and amortized over five, ten, or twenty-five years, where the buyer agrees to make monthly payments to Awaysis until the term is complete and the balance is paid in full.
Seasonality and Cyclicality
The company expects to experience seasonality in the rental segment of its planned business, with stronger revenue generation during traditional vacation periods for those expected locations.
Marketing and Sales Regulation
A wide variety of laws and regulations govern the company’s marketing and sales activities, including regulations implementing the USA PATRIOT Act, Foreign Investment In Real Property Tax Act, the Federal Interstate Land Sales Full Disclosure Act, and fair housing statutes, the U.S. Federal Trade Commission (‘FTC’), and state ‘Little FTC Act’, and other regulations governing unfair, deceptive, or abusive acts or practices, including unfair or deceptive trade practices and unfair competition, state attorney general regulations, anti-fraud laws, prize, gift, and sweepstakes laws, real estate, title agency, or insurance and other licensing or registration laws and regulations, anti-money laundering, consumer information privacy and security, breach notification, information sharing, and telemarketing laws, home solicitation sales laws, tour operator laws, lodging certificate, and seller of travel laws, and other consumer protection laws.
History
The company was founded in 2008. The company was formerly known as JV Group, Inc. and changed its name to Awaysis Capital, Inc. in May 2022.
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