Location
Avenue Centrale - Via Espana, Panama City, Panama

Ground breaking
August 2007

Completion Date
1st Quarter 2009

Number and type of units
100 fully furnished 1 & 2 bedroom executive residences with private offices.

Size of units
1 bedroom: 90m2 (969 ft2)

2 bedroom: 111m2 (1195 ft2)

Price range 1 bed apartments from US$283,000

2 bed apartments from US$296,000

Deposit 30% in total. Payable in three tranches of 10%

Closing Costs
Approx. 2% of purchase price

Finance available
Up to 70% of the price is available with a US$ mortgage through HSBC. Interest is payable at around 7% per annum. Please note that these figures are for example purposes only and are subject to change without notice

Projected Capital Growth
Strong. Over the last three years prices have been appreciating at over 10% per annum

Projected Rental Yield
14%+. Based on occupancy rate of 70% at an average price per night of $200 and a 90% share of the nightly rate

Monthly service charge
US$0.30 per square foot per month

Ownership Structure
Freehold. Property can be held as an individual or through a Panamanian company.

Developer & Management
Adsum Group based in Miami, Florida