619 Acres Golf Course & Land Development Hutchinson, Kansas. REO Land Sale

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1 Cottonwood Hills 619 Acres Golf Course & Land Development Hutchinson, Kansas REO Land Sale Executive Summary 18-Hole Championship Course 2944 N 44th St, Suite 200 Phoenix, Arizona Lane G. Neville Senior Vice President lane.neville@naihorizon.com Barbara Lloyd, CCIM Senior Vice President barbara.lloyd@naihorizon.com

2 Executive Summary Cottonwood Hills is bank-owned and is currently for sale as an REO property. It is located 35-miles northwest of Wichita, Kansas (6-miles east of Hutchinson), there are over 800,000 people that reside within 50 miles of the Property. The overall development has 619 acres, approximately 189 acres is golf course and and the other 430 acres is currently planned as residential and commercial. The Property requires final plat approval so flexibility to redesign with larger estate lots, gated community or becoming a private golf and hunting club exists for these or other potential alternative land development plans. The Cottonwood Hills golf course was designed by Britain s 6-time Major championship winner Sir Nick Faldo. Cottonwood Hills was awarded two (2), Top-10 national design awards (#2 Golf Inc. and #8 Golf Digest) in 2007 and The overall property through its 15 years of history and several ownerships has had over $21 Million invested into the land and the golf infrastructure. Pricing expectation for the Property As-Is is $2.29M. During the 2009 recession the funding for the property went into default. After several years of being closed, new ownership bought the Property from the bank and for two years rehabilitated the golf course. The golf course has been operating for the past three seasons. The property is bank-owned and now for sale. The property website is The current property plan could be modified to alternative land plan. For example, it could be converted to an exclusive resort style destination, vacation resort, retirement community or to a high-end, private, national golf and hunting club property. Cottonwood Hills 2

3 Executive Summary Continued The Property is extremely unique and naturally beautiful. The rolling sand dune terrain with heavy tree cover and natural prairie long grasses create a rugged but pristine beauty. Wild turkey, doves, quail and deer are in abundance to hunt or watch during the off-golf months. There are large community ponds throughout the golf course and the planned community areas that provide a beautiful amenity. The property has all agricultural, commercial and community water rights. Existing water rights provide large annual volumes to accomodate both golf and community development. There is retail and commercial zoning planned including resort, hotel and casita (lodging) zoned properties. Also, the current property plans include single family golf lots that need to be entitled and infrastructure development prior to re-sale. The current community concept is a freestanding, sustainable and environmentally friendly community that is priced in-line with the conservative Midwest values. The property is zoned but not yet platted, no parcels have been sold, the entire development is owned by the bank (no out parcels). The current land plan was created by Vernon Swaback (VSA) located in Scottsdale, Arizona. VSA has designed many of the top community developments in the U.S. Vernon Swaback apprenticed and studied under the legendary American architect, Frank Lloyd Wright. Vernon designed into Cottonwood details using natural wood and stone elements from the local area to enhance the existing natural beauty of the site. It is truly a special and unique natural property with outstanding design themes for a one-of-a-kind master planned community. Cottonwood Hills 3

4 The Proposed Master Plan Cottonwood Hills, 619 acre proposed master planned development is designed as a self-sustained rural community, with a maximum residential capacity of approximately 1,600 residents. Through all planned phases of the existing residential development plan, there are a total of nine (9) neighborhoods designed within Cottonwood Hills Project with lot sizes ranging from as small as 0.20 acres to as large as 2.81 acres. The smallest lots are lodging units for rent called The Casitas. The nine (9) planned residential neighborhoods are; The Estates, Sand Dunes, Hacienda Vistas, The Enclave, Lakewood (all in overall Phase One), and Westland Village, Cedar Park, Cheyenne Trails and Chaparral Ranch are in future planned phases. All of the residential neighborhoods are centered on the community s championship golf course except for Chaparral Ranch which is planned for luxury ranch homes that feature large custom equestrian lots located along the commonly shared equestrian trails. The Cottonwood Hills proposed residential plan includes the following: Planned Residential total parcels: 347 residential home sites 232 condominium units 59 golf casitas Planned Commercial - 24 total parcels The plan entails twenty-four (24) commercial parcels that are located throughout the overall property are zoned for various commercial developments such as; resort, hotel, retail, office and various employment uses. The real estate portion of the overall development is approximately 430 Acres and in addition to that the golf course is located within a 189 Acre area, for a total area of 619 acres. The master planned area of Cottonwood Hills, an unincorporated area of Reno County has rights (after 50 adults reside on the property) to become a new town in the State of Kansas. Cottonwood Hills 4

5 Alternative Land Plans There are many alternative land plans that could easily be implemented for Cottonwood Hills if the current master plans are not desired by a potential buyer. The excellent condition of the golf course would remain the centerpiece to an alternative plan. That being said, the extensive pre-development of infrastructure supports the viability of converting the land plan. Some alternative land uses include but are not limited to: Retirement Community The wave of baby boomers retiring nationwide bodes well for this concept. Active age living with championship golf would provide for a unique and quality community for retirees living or relocating to the Midwest. Smaller homes with high-end appointments provide luxury living for age in place options with assisted care. Community lakes and trails would enhance this niche development concept. Emphasis on green community with solar and electric cars would be an attractive lifestyle to many affluent retirees. National Golf & Hunting Club With the natural rolling sand dune topography and heavy vegetation providing home to many wild animal and bird species, Cottonwood Hills is an excellent property for hunting. New ownership could gate the property and build lodging for national membership for summer golf and winter hunting. Gated Estate Properties With the beautiful championship golf course in excellent operations, the new development could be replatted with large 5 and 10 acre estate lots. The property would be gated and most likely the golf course would become private (national membership based). Destination Golf Resort Resort zoning is already in-place. New owner could create golf casitas resort and timeshares. Nick Faldo is prepared to be part of this venture with Faldo name branding available. Equestrian trail rides, mountain biking, fishing, camping and birdwatching could be part of resort amenities. Private or Corporate Retreat Individual family, trust or private or public company could create private retreat with golf and all other natural amenities remaining as private land not available to the general public. Cottonwood Hills 5

Cottonwood Hills Golf Course Summary Faldo designed 18-hole Championship Golf Course Cottonwood Hills Golf Club initially opened 10 years ago to national attention, as a regionally significant,

6 Cottonwood Hills Golf Course Summary Faldo designed 18-hole Championship Golf Course Cottonwood Hills Golf Club initially opened 10 years ago to national attention, as a regionally significant, high-end, daily fee public golf course. All 18 holes opened June 23, Six-time major golf champion and legendary PGA British golfer Sir Nick Faldo designed the championship golf course, through his golf architectural firm Faldo Design based in London, England. The course sits on a world class tract for golf. The local terrain of sand hills and natural vegetation gives this area its unique European links style look and feel, reminiscent of the great golf areas of England, Scotland and Ireland. The course was designed in 2004 and originally built it in 2005 and It was open and successfully operated for four seasons ( ). The 18-hole golf course was renovated from 2012 thru 2014 and reopened for public play on May 1, The golf property has operated the last two seasons and has tremendous reviews this year from the public and the golf world alike. Golf Course Recognition The top golf design awards received by Cottonwood Hills are as follows: Golf, Inc. - National Runner-Up 2007 best new public course in the U.S. Golf Digest - Top 10 in the U.S. (#8) - "2008 Best New Public Golf Courses" Golf Week's - " Top 50 Best New Golf Courses" In addition to prestigious national awards, Cottonwood Hills Golf Club has been featured in articles in the following national golf magazines: LINKS Magazine USA Today Golf Magazine Travel + Leisure Golf Cottonwood Hills 6

7 Property Photos Cottonwood Hills 7

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10 Property Rendering Cottonwood Hills 10

11 Region Aerial Manhatten Topeka Kansas City Hutchinson Missouri Wichita Kansas Joplin Springfield Springdale Stillwater Tulsa Oklahoma City Oklahoma Fort Smith Arkansas Cottonwood Hills 11

Cottonwood Hills Accolades & Press Best New Course- National 2007 Daily Fee Runner Up -Golf Inc Best New Public Courses of 2008: Golf Digest Magazine Page 1 of 2

edge of the Grand Canyon. Below lies a chasm of bewildering beauty, a spectacle that overwhelms the senses.

Chambers Bay explodes at first glimpse from this perch.

Golfers descend by van, not burro, to the first tee, but heart and adrenaline rates are likely elevated nonetheless, for Chambers Bay is an encounter that breeds

A municipal operation worthy of national championships, the course is a celebration of American innovation, a land-reclamation project that promotes the positive

12 Cottonwood Hills Accolades & Press Best New Course- National 2007 Daily Fee Runner Up -Golf Inc Best New Public Courses of 2008: Golf Digest Magazine Page 1 of 2 Best New Courses of 2008 Best New Public Top Ten (#8) Best New Public Course Golf Digest In 2015, ruffled, tousled Chambers Bay will become the first former gravel pit to host a U.S. Open. View more photos of this course By Ron Whitten Photo By Stephen Szurlej January 2009 Stepping onto the clubhouse patio at Chambers Bay is akin to strolling to the edge of the Grand Canyon. Below lies a chasm of bewildering beauty, a spectacle that overwhelms the senses. Unlike Sand Hills or Bandon Dunes or Whistling Straits, whose rugged links-land beauty and character unfold gradually as golfers turn a corner or crest a hill, Chambers Bay explodes at first glimpse from this perch. Nearly every hole is visible -- every craggy dune, sprawling wasteland, tumultuous fairway and tremulous green. Golfers descend by van, not burro, to the first tee, but heart and adrenaline rates are likely elevated nonetheless, for Chambers Bay is an encounter that breeds apprehension and exhilaration. A municipal operation worthy of national championships, the course is a celebration of American innovation, a land-reclamation project that promotes the positive environmental aspects of golf, a man-made links that thoroughly disguises its artificiality through the artifice of its design. Few golfers would guess the ragged, jagged, rumbling, tumbling topography is only 20 percent natural. Fewer still would guess that its antecedents sprung from Pebble Beach, where two decades ago Jones pumped sand and life onto a barren hunk of rock and created, with the help of co-designers Tom Watson and Sandy Tatum, The Links at Spanish Bay, Golf Digest's Best New Resort Course of /4/2008 Cottonwood Hills 12

13 Proposed Transaction Parameters General Guidelines All offers must be presented, in writing, and must include the following: Purchase Price Sources of capital and details of any approvals, if required Outline of proposed schedule of due diligence and closing The amount of earnest money deposit- MINIMUM OF 5% OF THE PURCHASE PRICE IS REQUIRED Description of any physical or financial assumptions contingencies that impact the price offered Criteria for Selection The prospective purchaser will be selected by the Seller through a competitive bid process based on a variety of factors, including but not limited to: Offer Price Financial Strength Level of discretion to invest funds Ability to close in a timely fashion Experience in closing similar transactions Level of property due diligence completed and thoroughness of property underwriting Cottonwood Hills 13

602 808 5296 fax lane.neville@naihorizon.

393 6731 direct 602 808 3959 fax barbara.

14 Presented By: Lane G. Neville Senior Vice President direct fax Barbara Lloyd, CCIM Senior Vice President direct fax NAI Horizon 2944 N 44th St Suite 200 Phoenix, Arizona naihorizon.com

Land Development Opportunities

Land Development Opportunities Parcels A & Parcel D These parcels lie at the entrance to the resort on Kings Ranch Road, (the main arterial through Gold Canyon off of US 60. One on either side of the entrance.