Type:  Student Hostel Development

Location:  Accra, Ghana

Funding Request:  USD $2 Million

Goal:  To develop and manage benchmarked hostel units for the students of the University of Ghana.  Phase 1 construction consists of about 200 rooms to be completed by July 2008 at a construction cost of $2 Million.  Phase 1 is expected to generate annual revenue of about $400,000 after opening.  The complete buildout of the project (400 rooms) will take 2 years to develop and revenue is projected to be about $800,000 annually after opening.   Phase 1 is under construction now and the principal has invested about $300,000 on the $1 Million project which equates to a 30:70 equity/debt ratio.

A note on Ghana:  Ghana is the most peaceful country in Africa with a democratic government for the past 16 years.