- • Joint development agreement (JDA) signed in 2008 between TriVeda sponsor (as developer) and third-party landowners
- − 35+ acre residential villa development, with TriVeda sponsor to receive 62% of built-up area
- − JDA amended in 2009 to annex 51+ additional acres for residential plotted development (TriVeda sponsor to receive 45% of new built-up area)
- • Project now 100% complete with ~60% of project sold
- − Developer’s share is nearly sold out, with landowners holding inventory for further appreciation
- • Project Performance:
- − Project delivering an attractive ~2.0x equity multiple in base case for TriVeda sponsor