Marriott Tribute Portfolio Hotel & Residences at Sunset Walk

On behalf of Encore Capital Management (the “Sponsor”), the Avison Young Debt & Equity Finance Team is pleased to exclusively present the opportunity to provide a joint venture equity co-investment for the development of Marriott Tribute Portfolio Hotel & Residences Sunset Walk, a proposed full-service, upper-upscale hospitality development located on a 17.01-acre site at 8109 Good Life Way in Kissimmee, FL.

Once completed, the Property will be comprised of a 300-room (180 Traditional Rooms | 120 Suites), full-service Marriott Tribute Portfolio hotel and 40 Marriott-branded, for-sale luxury villas permitted for use as short-term rentals. The Project is as-of-right and has received Site Plan Approval, with substantial completion anticipated in March 2028 following an estimated 21-month construction period and stabilization anticipated in October 2029, approximately 18-months post-completion.

TRANSACTION HIGHLIGHTS

SPONSORSHIP WITH INSTITUTIONAL TRACK RECORD: Encore Capital Management is led by Arthur Falcone and specializes in large-scale master-planned communities and destination hospitality projects. Their track record that includes Miami Worldcenter ($6 billion | 27-acre) and Sunset Walk Resort ($1.5 billion | 325 acres), demonstrating their ability to construct, operate and monetize large-scale developments.

DISNEY-ADJACENT LOCATION WITH EMBEDDED DEMAND DRIVERS: Strategic location proximate to Walt Disney World (15-minute drive to all major Disney parks) and within Sunset Walk Resort, a high-traffic resort environment and the 3^rd most visited resort in Orlando featuring Over 1,200 hotel rooms, cottages and private homes, 352-unit, Class-A multifamily property, Promenade at Sunset Walk (192,000 SF | 2.5 million annual visitors), Island H20 Water Park (20-acres | 356,500 annual visitors)

DEMONSTRATED PROOF OF CONCEPT: The Project represents the final phase of Sunset Walk Resort and mirrors the Sponsor’s successful execution at Margaritaville Resort Orlando – the Sponsor has retained the same development team used for the Margaritaville Resort Orlando that achieved both full sellout of 663 cottages within 2-years of pre-sales launch and an 80% adoption rate from short-term rental owners participating in the Sponsor’s reservation and management system.

DE-RISKED BUSINESS PLAN & MULTIPLE REVENUE CHANNELS: Marriott-branded Villas will (i) partially fund construction costs using pre-sale deposits, (ii) paydown senior construction debt using net sale profit, and (iii) expand both room inventory and room revenue by heavily incentivizing owners to participate in the Hotel’s reservation and management system.