Bali Cliff Villa,
on the Uluwatu cliffside,
underwritten on the same IRR-gated floor.
The Bali Cliff Villa flagship — a $650K, 4-bedroom cliffside villa on the Bukit Peninsula Uluwatu / Ungasan corridor. Diligence, underwriting memo, and term-sheet template travel with the deck; access via IR or the data room.
$650K acquisition
4-bedroom cliffside villa on the Bukit Peninsula · IRR-gated · USD-denominated
A 5-paragraph position before the math.
Bali Cliff Villa on the Bukit is the canonical deal page for the Indonesia flagship. Bali Cliff Villa is the named Bali property on the Indonesia leg (Pillar 05 of the Indonesia thesis; Pillar 01 of the bali-acquisition-targets brief) — a 4-bedroom cliffside villa on the Bukit Peninsula Uluwatu / Ungasan corridor, acquired under the standard PMA- or long-leasehold-titled structure every Indonesian property advances through. The page below is structured so a capital partner can read the position, walk the underwriting memo, and reach IR — without inventing criteria or fabricating figures the operator hasn't supplied. Each figure on this page is tagged verified, projected, or pending in the legend at the foot of the memo.
01 · Acquisition
$650K acquisition
Operator-underwritten property acquisition. Equity-only capitalization — no third-party debt at the property level.
02 · Structure
4-bedroom cliffside villa
Cliffside villa on the Bukit Peninsula Uluwatu / Ungasan corridor — the named Bali flagship on the Indonesia leg.
03 · Corridor
Bukit Peninsula · Uluwatu / Ungasan
Sourced through founder + family ties on the ground; year-round international-tourist + Australia-weekender band.
04 · Capital stack
LP equity only
Single-LP equity tickets from $100,000 USD. No third-party debt. 5–7 year targeted hold with quarterly distributions wired in USD.
Four blocks, eight figures, one IRR-gated floor.
The four blocks below — use of proceeds, operating assumptions, fees + reserves, exit — are the underwriting surface a founder walks on the founder call. Each datum traces back to a typed source on disk (the Bali Cliff Villa memo + INVESTOR_DECK); nothing is invented, and any figure the operator hasn't supplied is marked pending and routed to IR rather than fabricated.
Where the acquisition price lands.
The acquisition, softs, working capital, and reserves breakdown below is what a per-property acquisition advances against. Acquisition sources are the capital structure; the softs + working capital + reserves cushion the property through its first 12 operating months.
Acquisition
Property purchase price plus closing costs.
Softs (set-up capex)
FF&E, brand/photo, dynamic-pricing onboarding, listings QA, and the on-market property-management hand-off.
Working capital
3-month operating reserve (utilities, housekeeping, insurance, and central- hub IT) to underwrite the property through ramp.
Reserves
5% vacancy reserve + housekeeping / maintenance contingency + capex reinvestment allowance — the cash buffer that survives a slow quarter.
Base · bear · upside — three bands, one model.
The per-property model is run three ways: base, bear, and upside. Every band is calibrated against the same comp-set ADR ±20% screen that gates acquisition, so the band already reflects the on-market reality rather than a modeled best-case.
Base
Bali Cliff Villa base case — Uluwatu cliffside band, 4BR nightly rate $650 → ~$0.71M/yr per the SE Asia band math while the per-property model resolves.
Bear
Occupancy −10pts and ADR −15% from base; vacancy reserve sized to absorb one below-the-band quarter per operating year.
Upside
Operating leverage from dynamic pricing + listings QA + Bukit cliffside + Canggu demand; upside bands calibrated to the per-property model.
The five numbers a capital partner cross-checks first.
Cap rate, IRR, equity multiple, payback, cash-on-cash, and the targeted net yield band. Each figure carries its provenance — verified (operator-supplied), projected (per-property model), or pending (the founder has not yet supplied it).
Cap rate (entry, base case)
Contact IR for the latest.
7-year IRR (base case)
Per INVESTOR_DECK — every acquisition clears only if the per-property model returns a 7-year IRR ≥ 14% under the base case.
Equity multiple
Contact IR for the latest.
Payback (years)
Contact IR for the latest.
Cash-on-cash (Year 1)
Contact IR for the latest.
Net yield band
Illustrative annual net yield band after management fees, platform fees, and a vacancy reserve. Yields projected, not guaranteed.
The KPIs an LP sees each reporting cycle.
A working preview of the per-cycle reporting band — the six tiles the LP gets in monthly per-property statements, plus the base / downside / upside sensitivity triple. Each figure carries its provenance per the legend so the band reads as institutional reporting rather than a marketing summary.
Occupancy %
roi-presets.MARKETS[sea].defaultOccupancy
ADR
INDONESIA_VILLA_BALI_CLIFF_VILLA.nightlyRateCents (65000 cents)
Total revenue (annualized)
4 suites × $650 ADR × 75% × 365 = $711,750 (computed once)
Operating expenses
15% mgmt + ~3% platform + utilities + 5% vacancy reserve (memo.feesAndReserves)
Net distributions
acquisition price ($650,000) × 8–12% net-yield band — INVESTOR_DECK.terms.targetNetYieldCopy
Reserves
memo.useOfProceeds[Reserves] row
Sensitivity cases
Base · Downside · Upside
| Case | Revenue | IRR |
|---|---|---|
| Base | ~$0.71M/yr Projected 4 suites × $650 ADR × 75% occupancy × 365 nights = $711,750 (computed once) | ≥ 14% Projected memo.returnsMetrics[7-year IRR] (base case) |
| Downside | -15% ADR · -10pts occupancy Projected memo.operatingScenarios[bear] | Pending — IR Pending |
| Upside | Dynamic pricing + listings QA leverage Projected memo.operatingScenarios[upside] | Pending — IR Pending |
Cadence · Monthly per-property statements · quarterly portfolio summary · annual audited financials — sourced from INVESTOR_DECK.slides[management].rows[Owner / LP reporting]
What comes off the gross, what stays on.
The fee + reserves stack a per-property model advances against. Management and platform fees come off gross; utilities, insurance, and a 5% vacancy reserve are the cost-side cushion the model sizes for.
Management fee (on gross revenue)
15%
Platform fee (on gross revenue)
~3%
Utilities
Per-property — operator-managed
Insurance
Required pre-underwriting; feasibility review before term-sheet sign-off
Vacancy reserve
5%
5–7 year hold. Two exit paths. One pacing.
The exit surface the per-property model sizes against. Base-case is sale to a strategic or institutional buyer; alternative is a refi at end of hold. The principal-returns timing is the same on both — sale event or refinancing event.
Targeted hold window
VerifiedHold period 5–7 years
Exit path — base case
ProjectedSale to a strategic / institutional buyer at end of hold
Exit path — alternative
ProjectedRefinance at end of hold, return principal to LPs, continue operating under new structure
Distribution cadence
VerifiedQuarterly net rental via ACH / wire
Principal return timing
VerifiedAt sale event or refinancing event (end of hold)
The pillars the per-property model is built on.
The operating thesis the founder call walks through. Each pillar maps back to a typed constant on disk — the same constants the deck, the underwriting methodology, and the region thesis page are grounded in.
Named risks, one mitigant each.
The risk surface a per-property underwriting walk-through addresses. Each pair pairs a named risk with the structural mitigant the operator has put in place — and tags it verified / projected / pending per the legend.
Risk 01
Risk
Acquisition price drifting above the per-property model
Mitigant
Per-property model must clear 7-year IRR ≥ 14% under base case — no exception.
Risk 02
Risk
ADR / occupancy miss vs the modeled band
Mitigant
Comp-set ADR benchmark ±20% pre-acquisition; vacancy reserve sized to absorb one below-the-band quarter per operating year; STR-permit re-screen on the Bali leg.
Risk 03
Risk
Foreign-investor / cross-border capital friction
Mitigant
Reg D for US LPs; Reg S for non-US LPs where applicable; per-LP agreement reviewed by US counsel + local counsel in Indonesia; PMA + 25–30 year leasehold structure applies when freehold-style acquire is in scope.
Risk 04
Risk
Operating-cost variance (utilities, insurance, housekeeping)
Mitigant
Operator playbook + hub-and-spoke vendor stack; per-property P&L reviewed monthly by the central team — variance surfaced within the same reporting cycle.
Risk 05
Risk
SLF permit compliance (Bali-specific)
Mitigant
Every Bali pipeline candidate clears an SLF screen via local counsel BEFORE deed signature; the Bingin 2025 precedent is the practical enforcement line and the SLF screen is a gating test, not an assumption.
Risk 06
Risk
Exit-window drift (sale vs refi)
Mitigant
5–7 year targeted hold window with both a base-case (sale) and an alternative (refi) exit; principal returns at sale event or refinancing event.
Risk 07
Risk
Currency / capital-call cadence (LP-dependent)
Mitigant
USD-denominated end-to-end on the Indonesia leg, same pattern the SE Asia and Jamaica legs run; quarter-end IDR→USD conversion only on the local-property book while the LP statement stays in a single currency.
Verified facts · Projected figures · Pending materials.
Every figure on this page carries one of three labels. The page never invents a number — if a per-property datum has not yet been supplied by the operator, the figure reads 'Pending — IR' and the visitor is routed to Investor Relations rather than fabricating a value.
Verified facts
Operator-supplied or underwriting-derived figure backed by a typed constant on disk (typed seed, named underwriting memo, or per-LP negotiation anchor).
Projected figures
Per-property modeled figures / yield bands; projected, not guaranteed. Actual outcomes depend on market conditions and operating performance.
Pending materials
Material the founder has not yet supplied. Routes the visitor to Investor Relations rather than fabricating a number never sourced from the underwriting memo.
Compliance
This deck summarizes TropicBay Properties' investment thesis for accredited / institutional capital partners. All yield, occupancy, and return figures are illustrative targets — actual outcomes depend on property mix, market conditions, and operating performance. TropicBay does not offer securities; this document is informational and is not an offer to sell or a solicitation to buy any security. Figures, projections, and underwriting numbers on this page are illustrative targets sourced from the operator's per-property underwriting memo. Actual outcomes depend on property mix, market conditions, and operating performance. TropicBay does not offer securities; this page is informational and is not an offer to sell or a solicitation to buy any security.
Memo as of 2026-09-13 UTC
Sources: INVESTOR_DECK.terms.targetNetYieldCopy · INDONESIA_VILLA_BALI_CLIFF_VILLA (4-bedroom · $650/night · Bukit Peninsula Uluwatu / Ungasan) · INDONESIA_SCREENED_ACQUISITION_TARGETS[bali-cliff-villa].priceUsd (650_000) · roi-presets.MARKETS[sea].yieldMin / yieldMax (8–12%) · BALI_ACQUISITION_TARGETS_PILLARS[01] (named Indonesia flagship at the underwrite gate) · INDONESIA_THESIS_PILLARS[05] (Bali Cliff Villa as the named Indonesia flagship)
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Request the bottom-line deck, the data-room walk-through (4 buckets: appraisals / financials / legal + title / operating agreements), and the per-property underwriting model. The IR team replies within 24 hours and walks every figure on this page back to its source.
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Underwriting memo for Bali Cliff Villa on the Bukit loaded.