Sunset Amphitheater

[Zuplar]

That's an unfortunate consequence of their naming convention. When there is only one Wendy's in a city, they appear to name themselves the name of the city; when there are more than one Wendy's in a city, then they switch to the road name. There is one Wendy's in Mustang, and one Wendy's on Mustang.

Logic makes sense, you'd just think they'd at least say Mustang Road, or Mustang and 15th like they do their other one's in Oklahoma City, which if you go to their site they do have it correct their when you click on OKC. For some reason it seems to be the mobile site where you order that they don't have it correctly denoted. Oh well, petty gripe that really doesn't matter.

[Jeepnokc]

According to their website, only 87 of the 120 fire pit suites are available. 9Don't know if others are reserved back or have been sold). Minimum qualifications to invest is income in excess of $200k for singe or $300 k if married for prior two years or a net worth of $1million not including residence.

[SEMIweather]

According to their website, only 87 of the 120 fire pit suites are available. 9Don't know if others are reserved back or have been sold). Minimum qualifications to invest is income in excess of $200k for singe or $300 k if married for prior two years or a net worth of $1million not including residence.

They were showing 87 available as of two weeks ago as well. As I mentioned earlier in this thread, I'll be very concerned about the chances of this going forward if they really are relying on selling the fire pits as the main investment vehicle (though I don't think we've gotten a definitive answer on whether that is what's happening).

[Pete]

They ran a full-page ad in the Oklahoman about a week ago seeking investors.

[unfundedrick]

They ran a full-page ad in the Oklahoman about a week ago seeking investors.

There were actually two separate full page ads in last Sunday's paper. One was on the back of the Viewpoints section and one was on the back of the Sports section.

[ChaseDweller]

Anyone else get the "Venu" magazine in the mail yesterday? It's basically a sales pitch for this deal disguised as a magazine. The guy on the cover is behind this - he's somehow associated with Boot Barn. I didn't spend too much time on it, but my understanding is that you buy the lifetime rights for the fireplace suites as an investment and then you get a cut of the profits as your return. That's great as long as the place stays in business. It didn't say whether you had to buy tickets for each event on top of your investment, but I suspect you do.

[chssooner]

Why are we amazed that a for-profit entity wants to raise capital for a project? That happens everywhere, everyday, every hour, for thousands and thousands of projects. This is no different. There are risks with the investment, as with every single investment in the planet. Some will take the risk, some won't. But I don't get bashing this company for doing what people in every country, every state, and every city on the planet.

[CitySooner]

A bit off topic - but was at the Orion Amphitheater (Huntsville, AL) a few weeks back to see Phish (I know, LMAO). I was blown away by this venue to say the least. It is about a year old, and is part of the Research Park development out there, I found that development to be quite similar to Chisholm Creek in a way. Pasting a link below if anyone is interested in checking it out. All this to say - if we ever build another outdoor venue here, this ought to be looked at for inspiration.

https://theorionhuntsville.com/

[BG918]

Anyone else get the "Venu" magazine in the mail yesterday? It's basically a sales pitch for this deal disguised as a magazine. The guy on the cover is behind this - he's somehow associated with Boot Barn. I didn't spend too much time on it, but my understanding is that you buy the lifetime rights for the fireplace suites as an investment and then you get a cut of the profits as your return. That's great as long as the place stays in business. It didn't say whether you had to buy tickets for each event on top of your investment, but I suspect you do.

I got one in the mail Monday. Not sure why lol.

[king183]

Anyone else get the "Venu" magazine in the mail yesterday? It's basically a sales pitch for this deal disguised as a magazine. The guy on the cover is behind this - he's somehow associated with Boot Barn. I didn't spend too much time on it, but my understanding is that you buy the lifetime rights for the fireplace suites as an investment and then you get a cut of the profits as your return. That's great as long as the place stays in business. It didn't say whether you had to buy tickets for each event on top of your investment, but I suspect you do.

I got one in the mail yesterday and actually was coming here to post about it. It's clearly an investment pitch. I don't know how common it is to seek out investors in this manner, and I have no idea how they got my name and address, but it is an interesting approach.

[chssooner]

I got one in the mail yesterday and actually was coming here to post about it. It's clearly an investment pitch. I don't know how common it is to seek out investors in this manner, and I have no idea how they got my name and address, but it is an interesting approach.

Seeking out investors in any manner has been going on since the dawn of time. Why is this seeming so foreign? I don't get it. It is capitalism and venture investing.

Didn't mean to sound rude, and i apologize, but this stuff happens every hour of every day.

[Pete]

Seeking out investors in any manner has been going on since the dawn of time. Why is this seeming so foreign? I don't get it. It is capitalism and venture investing.

Didn't mean to sound rude, and i apologize, but this stuff happens every hour of every day.

It's weird.

When was the last time you saw full-page ads in the Oklahoman seeking investors for a commercial real estate project?

[chssooner]

It's weird.

When was the last time you saw full-page ads in the Oklahoman seeking investors for a commercial real estate project?

Maybe the manner is weird. I will grant you that.

[king183]

Maybe the manner is weird. I will grant you that.

That's the entire point. No one is saying seeking investors is weird. It's the manner in which they are doing it. I have never seen a highly produced magazine, made to look like a lifestyle periodical, mailed to seemingly random people seeking investment in a product like this.

[Pete]

My spidey sense is tingling...

[chssooner]

I mean, they are already building in Colorado Springs, right?

[UrbanistPoke]

Seeking out investors in any manner has been going on since the dawn of time. Why is this seeming so foreign? I don't get it. It is capitalism and venture investing.

Didn't mean to sound rude, and i apologize, but this stuff happens every hour of every day.

Just because people seek investors all the time doesn't mean that the way they are doing it is 'normal' and there are VERY specific legal requirements when raising money, especially on commercial real estate when considering taking investment dollars from qualified or non-qualified investors. They are trying to skirt that by being an 'entertainment venue' and using a kind of crowdfunding technique but all of that is risky and they are just asking to get sued. There is a ton of questions about what 'purchasing' a fire pit actually gets you and feels like they are purposely misleading potential investors by being so vague - let alone not being anywhere forthcoming about what happens to the return of your money if the venue is never built.

This just screams being a future episode of American Greed.

[Pete]

I mean, they are already building in Colorado Springs, right?

Yes, I checked Google Earth and they have started construction.

However, something seems off here... Remember, Relax Park was finished and opened before it collapsed in lawsuits; it's now just weeds.

Hope this all works out but I'll be keeping a close watch.

[Jeepnokc]

it's now just weeds.

I thought it was all weed before

[Pete]

Another full-page ad in the Oklahoman today:

[HOT ROD]

it may be unusual for OKC but I don't see anything wrong with the advertisement tbh. Plenty of these type of ads appear in larger markets all of the time. Again, welcome to the big leagues - OKC.

[Pete]

it may be unusual for OKC but I don't see anything wrong with the advertisement tbh. Plenty of these type of ads appear in larger markets all of the time. Again, welcome to the big leagues - OKC.

Please provide one example from the 'larger markets'. I never saw anything like this in 25 years in Los Angeles.

[chssooner]

Please provide one from one of the larger markets. I never saw anything like this in 25 years in Los Angeles.

My reasoning is this: the people this group is targeting are those who read the newspaper. Not those who are right out of college. They could never afford these things. But adult businesspeople are more likely to. The newspaper is still a pat of their day. Am I saying it will be effective? Maybe not. But they have a target group. It isn't 25-35 year olds. It is 45-55 year olds, who are more likely to be able to afford things like this.

Again, it may fail. But this group has already broken ground in Colorado Springs on an amphitheater, so they aren't a total fail, like some on this board are thinking. It is a unique format, but who knows. Why say they struck out before they step in the batters box?

[Pete]

Nobody has said this group is a total fail.

But the manner in which they are approaching this -- and 5-6 other cities at the same time -- is very strange.

[UrbanistPoke]

it may be unusual for OKC but I don't see anything wrong with the advertisement tbh. Plenty of these type of ads appear in larger markets all of the time. Again, welcome to the big leagues - OKC.

Not a single legit developer raises money like this and there are not plenty of ads like this in major markets like Dallas, LA, NY, etc.

This is a massive red flag. Return rates in typical projects are in the 8% - 14% range with over 10% deemed highly, highly speculative in nature. Offering 19% return, before depreciation is crazy to put it nicely. Like the feds should be knocking on their door soon type of thing. The only time I've ever seen anyone offer a return rate that high has been when people are operating Ponzi schemes.