An independent Sports Complex Feasibility Study evaluating a three-phase regional public sports district in Anthony, New Mexico.
ANTHONY, New Mexico — Wert-Berater, Inc., an independent feasibility study consulting firm serving lenders and government agencies since 1998, has completed a Sports Complex Feasibility Study in Anthony, Doña Ana County, New Mexico.
Wert-Berater served as independent feasibility consultant to the issuer and bond counsel. Party names are withheld consistent with the confidential nature of underwriting and capital-advisory work; figures represent the project as evaluated at the study date.
A three-phase, approximately $115 million public sports district structured so that no phase is required to financially carry facilities belonging to a later stage of maturity. Phase I establishes demand through participation-driven outdoor facilities financed primarily with public-purpose capital; Phase II expands capacity only after utilization confirms absorption; Phase III introduces higher-revenue indoor and event facilities once the campus operates as a year-round destination. The approved ten-year operating forecast produces an unlevered project-level IRR of 17.9 percent.
A regional, multi-sport destination combining outdoor tournament fields with weather-independent indoor capacity: an arena, three indoor basketball/volleyball courts, and seventeen pickleball courts, with hard construction representing approximately 59 percent of total project cost concentrated in durable, long-lived sports assets.
$115,000,000 single tax-exempt municipal bond issuance — 100% of total project cost, including capitalized interest and funded reserves.
The study's principal analytical task was proving that a $115 million single-issuance bond could be reconciled with phased absorption. Key risks identified: construction execution at district scale, utilization variability, revenue concentration during tournament periods, and operating cost inflation — mitigated through phase-gating tied to demonstrated absorption, diversified programming, fixed-rate debt, and funded reserves stress-tested under downside scenarios.
Wert-Berater, Inc. is an independent feasibility study consulting firm founded in 1998, providing lender- and agency-facing feasibility studies, highest-and-best-use analyses, and capital-advisory support. The firm has completed 4,000+ engagements across all 50 states and internationally, evaluating over $41.2 billion in project value for SBA, USDA, EB-5, conventional, and institutional financing decisions. In every engagement, fiduciary duty runs to the lender and the applicable agency.
Media contact: Donald Safranek, MSc, President, Wert-Berater, Inc. — +1 310-857-2443 ext. 800. Press inquiries only; client, lender, and property identities remain confidential.
President, Wert-Berater, Inc. — independent feasibility study consultants since 1998. 4,000+ engagements completed across all 50 states and internationally, evaluating $41.2 billion in project value for SBA, USDA, EB-5, conventional, and institutional financing decisions. Fiduciary duty runs to the lender and agency in every engagement.
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Schedule a ConversationIndependent feasibility studies since 1998 — 4,000+ engagements, $41.2 billion in evaluated project value. Standard delivery in 10 to 15 business days. Fiduciary duty to the lender and agency.
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Wert-Berater, Inc. is an independent provider of feasibility studies and other related services. The firm does not provide financing or equity investment advice, and does not arrange, broker, or place debt or equity capital of any kind.
All appraisal assignments are performed by Bruce E. Jones, MAI, ASA-GC, BCA, CMEA, a member of the Appraisal Institute since 2006, a staff member of Wert-Berater, Inc. and owner of Special Purpose Realty Valuation.