I am pleased to announce that I am finally ready to open Culinary Oasis Fund I, LLC to new investors.
I know many of you don’t exactly fancy yourselves real estate investors and mostly just follow along for the adventure, the stories, and to watch whatever inspired thing I seem to be building next… so for those of you curious how all of this has evolved, here is the story.
I began the fundraising process with the investors already involved in my two Hawaii syndications, Hamakua Hotel and Waterfalling Estate. Existing members were given the opportunity to either liquidate and exit early or roll their equity into the new Fund with enhanced ownership benefits and an uplift in share value (a fancy way of saying profit!).
The response honestly exceeded my expectations.
Between both syndications, more than 90% of investors chose to roll into the Fund and less than 10% elected to exit. In total, we have now surpassed the $10M mark in rollover equity alone. In addition, my partner and I have personally committed $5M of our own capital.
Due to the early momentum, we made the decision to increase the size of the Fund from $20M to $25M. The Fund now owns 100% of Hamakua Hotel on the Big Island of Hawaii, controls the rights to acquire the adjacent 22-acre oceanfront parcel next door, and upon completion of final rollover paperwork, will also own 50% of Waterfalling Estate, one of the most beautiful luxury estates on the island. The other 50% is owned by my partner who co-runs our Fund.
Together, these three properties are being strategically linked to create a very unique luxury hospitality platform on the Hamakua Coast. More on that soon.
In the coming weeks, the Fund will also enter escrow on its first international acquisition, Villa Riviera Resort on the Italian Riviera. To guide the transaction, I retained a highly respected third-generation law firm based in Rome, and they have been exceptional.
Once completed, Culinary Oasis Fund I will own 75% of the real estate and 50% of the hotel operating company at Villa Riviera Resort. The property is extraordinary. It operates seasonally from April through October, but we see significant additional opportunity during the off-season through culinary retreats, cooking schools, tv production shoots, wellness experiences, and private owner events. We intend to blend luxury hospitality, culinary experiences, and experiential real estate into something far more differentiated than a traditional hotel group.
This August, Lori and I will host several of our largest rollover investors for a week-long experience in Italy that includes Milan, the Italian Riviera, culinary classes with Chef Edward Delling-Williams, and two of his signature multi-course tasting dinners at Villa Riviera.
Longer term, as our first Fund is fully capitalized, our focus will shift toward implementing the Culinary Oasis brand across the portfolio and pursuing additional acquisitions. We may still have enough room in Fund I for one additional boutique luxury hotel property, likely somewhere in Italy. Fund II will likely focus heavily on Miami, particularly Brickell, where I believe the luxury hospitality market still has enormous runway ahead.
For those interested in learning more, I’ve included invite only access below to both the Fund website and my personal site. Both are password protected for compliance purposes, but since this is my private network, I’m happy to share access here. You don’t need to fill out the Request Access lead form to view the sites. I know how to find you already!
**Fund Website:**
[www.culinaryoasisfund.com](http://www.culinaryoasisfund.com)
Password: culinary.fund.&1
**Personal Website:**
[www.ericlochtefeld.com](http://www.ericlochtefeld.com)
Password: HighValueFund_!
If after reviewing the sites you find yourself excited by what we are building, feel free to reach out to me directly at eric@culinaryoasis.com or via Facebook Messenger to start a conversation.
And for those of you thinking, “This probably isn’t for someone like me,” I would simply say this: more than 90% of the 75 investors who recently rolled into the Fund are actually people from this tiny little Facebook group. Over the years, this community has become far more like a family than your typical social media group.
What I am really building here is not just a real estate fund. I am building a platform for our network to experience extraordinary places, meaningful relationships, unforgettable meals, wellness, adventure, and beautiful moments together around the world.
I invite you to at least consider the possibility that there may be a place for you in it. You might be surprised.
Finally, I will say this, what excites me most about all of this is that this new chapter would not have happened without the major health and lifestyle transformation I’ve shared with many of you over the last two years. The energy, focus, discipline, and enthusiasm I feel today are on a completely different level than where I was just a few years ago.
Starting a new chapter at 55 probably sounds crazy to some people. To me, it feels like I’m just getting started.
Thanks for following along on the journey
