Market Analysis 2022 - 36

PRICING MODEL 2 COMPARATIVE ANALYSIS
TO ARRIVE AT THE RECOMMENDED PRICING IN THIS MODEL, RCLCO ADJUSTED PRICING IN THE COMPETITIVE SET BASED ON
EACH PROPERTY'S SIZE AND OFFERING RELATIVE TO THE SUBJECT SITE
► Product Type: This adjustment reflects a discount for products other than single-family homes
► Location: To account for locational differences, RCLCO used an objective approach based on median home prices surrounding the subject site and those surrounding
competitive communities
► Community Amenities: RCLCO used the proposed amenity package to adjust for an amenity premium. As a baseline (i.e., before additional brand premiums) Cotino™'s, a
Storyliving by Disney™ community, amenity package is assumed to be superior to all communities in the Miralon master plan.
► Quality: This adjustment assumes the proposed quality of execution at the subject site would be at the top of the market, equivalent to Cody Place, Toll Brothers at Escena, and
Aura at Miralon.
► Crystal Lagoon: To account for the unique amenity of the Crystal Lagoon, RCLCO applied a 10% adjustment to all competitive communities.
Pricing Adjustment Table
COMPARABLE
COMMUNITY
MAP
KEY
11
13
14
15
COMMUNITY
Cody Place
Toll Brothers at Escena
Aura at Miralon
Flair at Miralon
16 Gallery at Miralon
TOTAL/AVERAGE
BRAND PREMIUM
AVG.
SIZE
AVG.
PRICE
SIZE-ADJUSTED PRICE
$/SF SLOPE
2,366 $1,127,115 $476
2,614 $1,413,562 $541
2,063 $1,005,895 $488
2,285 $1,081,808 $473
2,654 $1,145,550 $432
2,438 $1,206,143 $495
TOTAL/AVERAGE WITH BRAND PREMIUM
SIZE
(SF) AVG. PRICE $/SF
70% 2,600
70% 2,600
70% 2,600
70% 2,600
70% 2,600
2,600
$1,205,024
$1,408,357
$1,189,323
$1,186,050
$1,129,382
$1,260,544
$463
$542
$457
$456
$434
$485
PROD.
TYPE LOCATION AMENITIESQUALITY
5.0%
10.0%
10.0%
10.0%
10.0%
10.0%
0.0%
0.0%
5.0%
5.0%
5.0%
0.0%
0.0%
0.0%
5.0%
10.0%
CRYSTAL
LAGOON
TOTAL
ADJ.
ADJUSTED
AVG. BASE
PRICE
10.0% 25.0% $1,506,280
10.0% 20.0% $1,690,028
10.0% 25.0% $1,486,654
10.0% 30.0% $1,541,866
10.0% 35.0% $1,524,666
$1,571,345
25%
$1,964,182
$/SF WEIGHT
$579
$650
$572
$593
$586
$604
$755
33%
33%
11%
11%
11%
100%
DPEP | Cotino™, a Storyliving by Disney™ Community | Rancho Mirage, California
Source: Community Websites; Sales Agent Interviews; RCLCO
R1-12149.06 | March 25, 2022 | 36
Market Analysis 2022

Table of Contents for the Digital Edition of Market Analysis 2022
