Confidential · Forward-looking statements

For prospective investors only.

This material is confidential and proprietary to Clive Collective, provided solely so that you may evaluate a potential investment. It contains forward-looking statements and financial projections that are illustrative only and are not guarantees of future performance. It does not constitute an offer to sell or a solicitation of an offer to buy any security — any such offer is made only through definitive offering documents. By continuing, you agree not to copy or distribute this material and to rely solely on those definitive documents and your own advisors.

CALA Paradise Valley exterior concept rendering

Private Investment · Paradise Valley, Arizona

A coastal escape, planted in the desert.

The award-winning CALA arrives in the reimagined PV district, joined by Calita — an intimate adjoining cocktail lounge. One address. Two distinct moods. An evening worth staying for.

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The concept

Modern coastal flavors, with a desert flare.

Warm textures, sculptural lighting and a coastal menu reimagined for the desert. CALA brings people together around the table; adjoining cocktail lounge Calita gives the evening another place to unfold. Two complementary experiences, connected at one destination.

0SF
Interior — dining, bar & open kitchen
0SF
Wrap-around patio, indoor–outdoor flow
$8M+
Targeted annual sales breakpoint

One destination · two distinct moods

Come for dinner.
Stay for the evening.

CALA and Calita are connected by location and hospitality, with a point of view all their own.

Calita cocktail lounge concept rendering

Calita · After dinner

Dinner is only the beginning.

The walk-through

Step through the room.

Drag, scroll or swipe — from the CALA arrival to the Calita lounge, one connected evening.

CALA arrival concept rendering

CALA arrival

Arched forms, sculptural light and a planted welcome.

The CALA dining room concept rendering

The CALA dining room

Warm materials and a lively setting for gathering around the table.

Private dining concept rendering

Private dining

A distinctive space for celebrations and private occasions.

The Calita arrival concept rendering

The Calita arrival

An adjoining lounge with a presence all its own.

The Calita bar concept rendering

The Calita bar

A striking central bar sets the tone for crafted cocktails.

Settle into Calita concept rendering

Settle into Calita

Intimate seating and an atmosphere made for lingering.

The operator

A proven concept. A proven operator.

CALA PV is the expansion of CALA — an award-winning modern-coastal restaurant already drawing crowds in Scottsdale — by Clive Collective, a Phoenix hospitality group with 50+ years of combined experience and a portfolio of category-defining venues.

The portfolio · six distinct concepts

From Scottsdale and Tempe to the Tiburon waterfront, Clive’s operating portfolio brings together distinct dining, cocktail and neighborhood experiences. CALA PV builds on that depth.

CALA brand logo over its concept photography

Modern coastal Mediterranean · Scottsdale

CALA

The flagship behind CALA PV. Mediterranean cuisine, a social dining room and the energy that carries a celebration from dinner into the evening.

The Americano brand logo over its concept photography

Italian-inspired steakhouse · Scottsdale

The Americano

Premium steaks, handmade pasta and a sophisticated cocktail and wine program in a richly designed Scottsdale dining room.

Tell Your Friends brand logo over its concept photography

Cocktails & live music · Scottsdale

Tell Your Friends

An immersive underground lounge pairing craft cocktails, live music and a distinctive 1920s-inspired atmosphere.

KUZA brand logo over its concept photography

Robata & raw bar · Scottsdale

KUZA

A transportive Japanese dining experience centered on live fire, a raw bar, sake and an energetic evening scene.

Neon Spur brand logo over its concept photography

Neighborhood bar · Tempe

Neon Spur

Cold cans, stiff drinks and backyard grub. A nostalgic, welcoming room built for neighborhood hospitality and a memorable night out.

The Bungalow Kitchen brand logo over its concept photography

Waterfront dining · Tiburon, California

The Bungalow Kitchen

A Bay Area dining and social destination on the Tiburon waterfront, managed by Clive Collective. California hospitality with a view.

The collective

Clive Collective was founded by likeminded individuals who set out to craft authentic, inspiring experiences — blending a love of real estate, cutting-edge design, unique architecture and hospitality. Over 50 years of combined experience, channelled into meaningful, relentlessly fun work.

Mikis Troyan, co-founder of Clive Collective
Co-Founder
Mikis Troyan
A hospitality entrepreneur with more than 20 years of experience across real estate, entertainment and restaurant operations. Co-founded Clive Collective in 2020.
Justin Massei, co-founder of Clive Collective
Co-Founder
Justin Massei
Co-founder and operating partner. A Bay Area native helping guide Clive’s growth from Arizona to the Tiburon waterfront, with a focus on thoughtful hospitality and execution.

Mikis Troyan portrait: Jill McNamara Photography · Justin Massei portrait: The Ark

The leadership
Rich Thompson
VP of Finance
Francesco Broglia
VP of Operations
Samantha Roberts
Director of Culinary
Jon Augustin
Director of Beverage
Brittney Munoz
Director of Sales and Events
Stefany Beukovic
Director of Marketing

Awards & accolades

Distinctive rooms.
Recognized experiences.

From CALA’s hospitality design to Tell Your Friends’ nationally recognized bar experience, the portfolio has earned attention for the details that make a night memorable.

Hospitality designBar & cocktail experienceEditorial recognition
2025

Winner · Tell Your Friends

Bar of
the Year.

Bar & Restaurant Expo
Industry Excellence Awards

National recognition for the Scottsdale cocktail and live-music lounge. Selected by an expert judging panel from Johnson & Wales University.

View the winners ↗
2022

Winner · CALA Scottsdale

Gold Key.
Lasting impression.

Gold Key Awards for Excellence in Hospitality Design
Restaurant — Casual

CALA’s Scottsdale dining room won its category in an international hospitality interiors program, recognizing the design behind the original brand experience.

View the winning project ↗

More reasons to take notice

Recognition across atmosphere, cocktails and the complete guest experience.

2025Winner

Tell Your Friends

Iconic Speakeasy
Experience

Foodist Awards · Arizona Restaurant Association

A statewide honor celebrating a distinctive speakeasy experience.

View the award ↗
2024Editorial selection

Tell Your Friends

Best New Bar
of the Year

PHOENIX magazine

The magazine’s top new-bar selection highlighted the lounge’s cocktails, 1920s-inspired design and live jazz.

Read the feature ↗
2025Finalist

Tell Your Friends

Best Cocktail
Program

Bar & Restaurant Expo · Industry Excellence Awards

One of three national finalists in the cocktail-program category.

View the finalists ↗

Recognition shown is for CALA Scottsdale and Tell Your Friends; CALA PV and Calita are new concepts at PV. Dates refer to the award or publication year.

The destination · PV, reimagined

A new neighborhood.
A defining address.

RED Development is transforming the former Paradise Valley Mall into a walkable district where dining, shopping, wellness, work and home share one address.

PV’s new retail district with Whole Foods Market, Sephora and residences above
PV today · Development imagery courtesy of RED Development
$2B+Multiphase redevelopment
100+Acres of mixed-use destination
3,000+Residences in the long-term plan
3+Acres of central park & gathering space

The vision

A destination with reasons
to return, every day.

Grocery and retail bring everyday visits. Wellness and office users add another rhythm. Dining and a programmed central park extend the experience into evenings and weekends.

On-site residential growth adds a neighborhood around the restaurants: AVE Paradise Valley has 400 residences, while Life Time Living is bringing another 327. The broader plan calls for more than 3,000 residences over successive phases.

Planned residences are future build-out capacity, not occupied homes today. Delivery and tenant schedules may change.

Why CALA’s corner matters

Visibility. Frontage.
Room to become a ritual.

  • A prominent corner addressThe proposed hard-corner position gives CALA a clear arrival and a visible presence in PV’s dining district.
  • An indoor–outdoor experienceThe planned wrap-around patio extends the guest experience beyond the dining room and strengthens the street presence.
  • Multiple reasons to visit nearbyResidents, shoppers, wellness members and office users provide distinct opportunities to build repeat guests.

Location advantages are Clive’s investment thesis; they are not a guarantee of foot traffic or sales.

The tenant mix

Good company.
Across the whole day.

Selected tenants from PV’s directory, checked October 2026.

Shopping & daily essentials

Dining & gathering

Wellness & residential

The next wave

Development sources & planning notes

RED Development · PV vision · Current tenant directory · Clayco · Life Time Living / AVE / $2B+ redevelopment · PV planning overview · 100+ acres / 3,000+ residences / 3+ acre park. Tenant selection is illustrative. Full build-out figures are long-term plans, not a committed delivery schedule.

The opportunity

A proven brand. A disciplined capital plan.

CALA PV brings an established Scottsdale brand to PV’s new dining district. The revised plan pairs a $6M project budget with $650K in landlord contribution, up to $3M in proposed SBA financing, and a $2.35M residual equity requirement.

Downside — structured

  • $650K landlord build-out allowance — $100/SF
  • No rent on the ~1,000 SF wrap-around patio
  • 4% percentage rent above $8M in lease-defined sales
  • 10-year term plus two 5-year options
  • A $450K opening cash budget plus a separate $450K contingency

Demand — multiple drivers

  • A proven, award-winning brand — not an unproven concept
  • First-generation hard corner in a $2B, 100-acre district
  • Anchors already signed — Whole Foods, Sephora & more
  • Retail, dining, wellness, office and residential activity in one district
  • Long-term residential build-out surrounding the destination

Capitalization at a glance

$650KLandlord contribution
+
$3.0MProposed SBA financing
+
$2.35MResidual investor equity
=
$6.0MTotal project budget

Assumes the full $3M loan. Debt proceeds are subject to lender approval and closing; a lower loan amount would increase the equity need or require budget adjustments.

Operating outlook · revised October 14, 2026

Growth at the table.
Discipline behind the scenes.

Profit shown before interest and principal repayments. After modeled operating expenses, management fees and shared-service fees.

Illustrative three-year operating outlook before interest and debt principal repayments
Projected resultsYear 1Year 2Year 3
Net sales$8,000,000$8,400,000$8,652,000
Operating profit before interest$1,404,845$1,469,333$1,505,066
Margin on net sales · before interest17.56%17.49%17.40%

Net sales grow 5% in Year 2 and 3% in Year 3. This is operating profit before interest, not investor distributable cash. The provisional SBA schedule assumes approximately $475,743 of annual principal and interest payments. Principal is not a P&L expense, but both principal and interest must be deducted when assessing cash available for distributions, together with applicable reserves, capital spending and lender restrictions. No investor IRR, payback or distribution forecast is represented here.

Projection source & financing assumptions

Source is CALA PV Projections, updated October 14, 2026; P&L Years 1–3 and SBA Loan schedule. Figures are rounded to whole dollars; margins use net sales as the denominator.

Assumes $3M fully funded at the start of Year 1, 10% annual interest, ten-year amortization and monthly payments beginning immediately. Monthly payment: approximately $39,645. These are provisional planning assumptions, not committed lender terms. The modeled $3M borrowing is distinct from the proposed $4M authorization ceiling in the legal documents.

The source model includes management fees of 5% and shared-service fees of 1% of modeled gross sales. Final service fees remain subject to confirmation in the offering documents.

A landmark district

The transformation of Paradise Valley Mall into Greater Phoenix's most anticipated dining, retail and lifestyle destination — anchors already signed.

A protected lease

Favorable rent, a six-figure build-out allowance, no rent on the patio, and 4% percentage rent above an $8M lease-defined sales breakpoint.

A proven brand

CALA is already an award-winning draw in Scottsdale. PV is a first-generation, ground-up build that brings a proven concept to a $2B district.

Figures are projections drawn from the CALA PV investor materials and are not guarantees of future performance. For discussion only — not an offer to sell or a solicitation to buy securities.

Use of funds

Every dollar.
A clear purpose.

The current opening budget totals $6,000,000. The landlord contribution is a source of capital, not an additional expense.

Leasehold improvements 70.2%

Pre-opening costs 12.7%

Opening capital & other 17.2%

Leasehold improvements$4,210,000
Pre-opening & soft costs$760,000
Opening capital & other costs$1,030,000
Total project uses$6,000,000

The financing plan

Up to $3 million
in SBA financing.

The planning case assumes a $3M SBA loan at 10% interest over ten years, fully funded at the start of Year 1 with monthly payments beginning immediately. Annual principal and interest payments are approximately $475,743. The $3M loan, $650K landlord contribution and $2.35M residual investor equity fund the current $6M budget. Clive principals are expected to personally guarantee the SBA financing.

Financing remains subject to lender approval, underwriting and definitive loan documents. Debt service, lender restrictions and required reserves affect the cash available for distributions.

Budget source: Cala PV Opening Budget, read October 12, 2026. The Initial Budget line items reconcile to the $6M opening-expense total. Percentages are rounded.

The ask

Own a piece of the corner everyone will be talking about.

Explore a flagship expansion from an established hospitality operator. The current capitalization plan calls for $2.35M in Class A investor equity, alongside proposed SBA financing and the landlord contribution. Minimum investment: 6 units ($90,000). Request the updated offering documents for final investment terms.

$2.35MResidual equity requirement
$3MProposed SBA financing
$650KLandlord contribution

Let’s Connect

Interested in learning more about CALA PV? Share your details to start a personal conversation with Mikis or Rich. Formal documents will be provided separately through our team’s private process.

Opens your email app with your request ready to send. You can also email mikistroyan@weareclive.com.

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