TreeBox Ohio
Retreat villages, wellness destinations, corporate buyout environments, culinary experiences, and media driven hospitality, anchored in Ohio Amish Country.
- Term
- 3 years
- Structure
- 8% PIK accrual, converts at 20% discount
- Prepared by
- Mycelium Capital · Heart Centred Enterprise
TreeBox Ohio, the offering at a single look.
A four village experiential hospitality platform in Ohio Amish Country. A retreat-led, media-amplified operating model. An institutionally-structured $12M preferred convertible.
Four villages.
One ecosystem.
Retreat-led.
Media-amplified.
Institutionally
structured.
Modern travelers are no longer paying for rooms.
They are paying for transformation.
The Opportunity
Travelers are paying for transformation. The retreat economy is the next chapter of hospitality.
The hospitality category that wins this decade is not lodging. It is curated experience.
Corporate teams want clarity, founders want reset, families want gathering, high net worth travelers want connection in real places with real people.
We are not selling room nights. We are building the most curated experiential hospitality network in the Midwest.
Corporate Reset Economy
Distributed teams have weakened the connective tissue of culture. Post-pandemic, companies are formalizing offsites the same way they formalized R&D and sales — as a recurring, budgeted line item.
Wellness and Nature Travel
Wellness and retreat travel have moved from leisure category to operating necessity. Travelers prefer secluded, nature-based environments over urban hotels.
Creator and Brand Economy
Founders, creators, and influencers seek production-ready environments for content and gatherings. Owned media converts every guest moment into distribution.
Domestic Destination Tourism
Amish Country attracts millions annually for culinary travel, craftsmanship, weddings, and seasonal tourism. A Midwest engine, not a flyover.
From beautiful stays to revenue-producing retreat experiences.
TreeBox has built a distinctive hospitality platform in Amish Country, Ohio. The next growth opportunity is to move beyond individual short-term rental stays and build a structured retreat, buyout, and curated group experience model that attracts higher-value clients. ITA Global is contracted to lead that transition.
Crafted retreat products
Retreat programs that are beautiful, operational, and commercially strong. Built to be sold, not just stayed in.
Lodging → premium group revenue
From nightly room sales to per-guest retreat pricing, buyouts, and high-value group bookings on a structured cadence.
A destination, not a property
Positioning TreeBox as a curated retreat destination — a brand worth choosing, not just a place to book.
Gathering has become operating infrastructure, and it prices like it.
Wellness and retreat travel are moving from a leisure category to an operating necessity. Multi-day programs price per guest, sell in advance, and compound margin through F&B, wellness, and content.
Per-room, per-night
Commodity hospitality. Single night, room-led, transactional, exposed to seasonality. The category most operators are still selling.
Per-guest, per-program
Multi-day, pre-sold, guest-led. Margins compound through F&B, wellness, content, and corporate add-ons. A 15.7× per-guest revenue uplift over lodging.
The market is already paying for this category.
Independent industry data confirms the structural shift toward experiential, wellness, and retreat-based hospitality across every category TreeBox is positioned to serve.
Diversifying capital outside Canada into a tangible U.S. hard asset.
Canadian investors today face concentrated exposure to a single national market through real estate, equities, and the Canadian dollar. Geographic and asset class diversification has become a serious portfolio consideration, not an optional one.
TreeBox Ohio offers a defined opportunity to participate in a U.S.-denominated, real estate-backed, operating hospitality business with structural downside protection and upside through equity conversion.
Why Add U.S. Hospitality to a Canadian Portfolio
USD-denominated exposure
Diversifies away from CAD concentration.
Hard-asset backing
Land and buildings under a senior real estate position.
Operating revenue today
$1.07M+ 2025 gross revenue across three operating villages, not a greenfield bet.
Defined exit window
3-year maturity with equity conversion optionality.
The Platform
Four villages. One ecosystem. A coordinated destination network in Ohio Amish Country.
Ohio Amish Country: one of the Midwest's most-visited tourism regions.
Millions of visitors annually for tourism, food experiences, local craftsmanship, weddings, and seasonal travel, in the secluded, nature-driven setting that defines the TreeBox experience.
A year-round tourism engine, ringed by four major Midwest airports.
- Scenic rolling countryside with an established culinary reputation
- Strong accessibility from major Midwest urban markets
- Lower development and operational costs than coastal markets
- Year-round tourism traffic with peak September through November
- Powerful appeal for experiential and wellness travel
A dedicated TreeBox transportation business connects every village to every airport.
Four villages, one integrated platform, one operating system.
TreeBox Ohio is organized into four distinct experiential villages, each with its own positioning and audience. The architecture creates market diversification while allowing cross-pollination of guests across corporate, wellness, family, and tourism segments.
TreeBox already has the elements a premium retreat destination needs.
The opportunity now is to organize these assets into clear, marketable, repeatable retreat products. We are not building from scratch — we are productizing what is already on the ground.
The execution risk is product structuring, not asset development. The hardest part — the land, the buildings, the regional fabric — is done.
Meraki — flagship corporate, sport, and event destination.
14 bedrooms across 5 acres. Corporate retreats, executive leadership summits, sports camps, and destination weddings. A planned amphitheatre supports evening programming and outdoor activations.
Orchard — family, culinary, and the long table.
19 bedrooms across 4 acres. Family reunions, destination weddings, culinary retreats, wine weekends, multi-generational travel, and seasonal food and agriculture tourism.
Treehouse — wellness, sanctuary, restoration.
18 bedrooms across 4.35 acres. The most immersive nature-based environment in the ecosystem. Wellness, yoga, women's retreats, spa weekends, creative residencies, couples getaways, and nature immersion.
Walnut Creek — the central hospitality and operational hub.
26 bedrooms across 1.11 acres. Two 13-room co-living buildings, gathering spaces, and the transportation coordination center. Work retreats, corporate lodging, extended stays, and event operations.
Breitenbach Wine Cellars and Distillery: a year-round tourism engine.
An established regional tourism destination with award-winning wines, strong local reputation, built-in hospitality infrastructure, and existing tourism traffic. Paired with the planned distillery expansion, Breitenbach transforms TreeBox from a hospitality portfolio into a multi-modal destination platform.
Established Brand Anchor
- Award-winning wine portfolio
- Established local and regional reputation
- Existing tourism traffic and brand recognition
- Built-in hospitality and tasting infrastructure
New Layer of Hospitality
- Distillery tours and tasting events
- Branded TreeBox beverage products
- Seasonal festivals and culinary pairings
- Media and influencer activations
The winery and distillery together create a year-round tourism engine that supports all four villages.
This is not a greenfield bet. The lodging business is already operating.
Three villages operating today with a verified 2025 history. Gross revenue exceeded $1.07M. Occupancy held flat while ADR grew 16.1% and RevPAR grew 11.4%, the signature of a brand finding its premium pricing tier.
Occupancy holding flat while ADR grows 16% is the signature of a brand finding its premium pricing tier.
From 2024 to 2025: occupancy held flat at 53 percent, while ADR grew 16.1 percent and RevPAR grew 11.4 percent. This is exactly the dynamic that retreat conversion is designed to amplify, taking the average revenue per guest from $287 per night to $4,500 per program.
The Flywheel
Hospitality, operations, and media, engineered to compound enterprise value.
From the airport to the campfire, the experience is designed.
The TreeBox guest journey is built end-to-end. Friction is engineered out at every touchpoint, from private airport transfer through farewell breakfast. A curated, repeatable, premium-priced experience.
Hospitality, operations, and media, one integrated platform.
Most hospitality platforms rent attention. TreeBox owns its media surface. Save Your Day Films converts every guest moment into content that supports direct bookings, lowers customer acquisition cost, and compounds the brand year over year.
"Distribution beats discovery."
Premium retreat platforms that win are the ones that own a media surface. Owned content from every retreat builds organic reach, lowers CAC, drives direct premium-priced bookings, lifts unit economics, and compounds enterprise value.
Built by a multi-generational family. Led on the ground, every day.
Jerry and Beth Hershberger — founding family, owners, operators, stewards. Builders by trade with multi-generational roots across the four-village footprint. Robert Schlabach — regional build lead delivering construction with single-point accountability and a 10% contingency in the deployment budget.
A Destination Management Company with the playbook for what TreeBox is becoming.
ITA Global understands how to design experiences that are not only beautiful on paper, but operationally thoughtful, emotionally memorable, and commercially valuable. The single biggest risk in a retreat business is amateur execution — ITA closes that risk.
Nearly two decades. ITA Global across 24+ countries. Sustainability integration via the Forests to Fortune initiative.
20+ years across fine dining, hospitality operations, corporate sales. Lived and operated across Central America for over a decade.
TreeBox is being operated to a Luxuria-level hospitality standard from day one. Built for the kind of guests companies do not return after a bad offsite.
Seven retreat products. One Collection.
The Collection is designed to speak directly to high-value group audiences and convert existing properties into premium retreat products. Each retreat is named, scoped, priced, and built to sell.
Seven retreat products move TreeBox from property-based lodging into a fully experience-led hospitality brand with premium products ready to sell.
Six phases. From property-based lodging to a fully experience-led retreat brand.
ITA Global's engagement is structured across six phases, each building on the last to create a fully realized retreat platform for TreeBox. The path from today to a Collection ready to sell is defined.
A defined six-month engagement followed by per-retreat execution. By month six, TreeBox owns a Retreat Collection — named, priced, sales-ready — and ITA is operating the execution layer per retreat. The capital raise is funding a path with a destination, not a wish.
Save Your Day Films — every village is a production-ready storytelling environment.
Documentary series. Retreat films. Creator residencies. Saleable corporate media packages. Save Your Day Films converts every guest moment into content, builds organic top-of-funnel for direct bookings, and creates an evergreen library that compounds the brand year over year.
Mycelium Capital, capital structured, deployed, and stewarded.
Mycelium Capital is the investment management and capital stewardship layer behind TreeBox Ohio. The mandate is institutional: disciplined structuring, milestone-based deployment, transparent reporting.
30+ years in capital management and strategic advisory across operating businesses, real assets, and complex ownership structures. Previously founded and led Friesen Capital Management at Richardson Wealth. Former Vice President and Investment Advisor at CIBC Wood Gundy.
Structuring
Designing the convertible terms, capital stack layering, and protective covenants.
Deployment
Tranche release tied to defined construction and operating milestones.
Oversight
Quarterly reporting to capital partners with full operational transparency.
Alignment
Capital management fee tied to the project, with skin in the game across stewards.
$12.0M Preferred Convertible. Protected coupon. Equity upside on conversion.
Investors participate through a $12.0 million preferred convertible note. The instrument accrues a 4 percent preferred return on a payment-in-kind basis over a three-year term. At maturity, the accrued balance converts to equity at a 20 percent discount to fair value.
| Term | Detail |
|---|---|
| Principal Amount | $12,000,000 USD |
| Instrument | Preferred Convertible Note |
| Coupon | 4.0% per annum, PIK accrual |
| Cash Pay Coupon | None during term |
| Term | 3 years from final close |
| Conversion Discount | 20% to fair value at maturity |
| Accrued Balance at Maturity | Approximately $13.50M |
| Equity Purchasing Power | Approximately $16.87M (1.406×) |
| Funding Tranches | 4 monthly tranches: Jul to Oct 2026 |
| Position in Capital Stack | Senior to common, subordinate to senior debt |
| Investor Eligibility | Accredited investors only (US & CA) |
Conversion Mechanics
Two paths to investor return: cash repayment or equity conversion.
The convertible accrues to $13.5M over three years. At maturity, every scenario delivers a path to return, cash repayment in the conservative case, or conversion to equity at a 20 percent discount in the base and expansion cases.
Conservative case repays in cash at 1.125× MoIC. Base and expansion cases convert to equity at a 20 percent discount, producing meaningful ownership in a long-life real-asset platform.
Real assets, institutional structure, long-term sponsor alignment.
Total project capitalization is $24.9 million across institutional senior debt and the preferred convertible. Sponsor alignment is anchored by embedded land basis, on-the-ground stewardship, and a long-hold operating commitment.
Senior Debt
Preferred Convertible
Sponsor Equity
- Embedded land basis, contributed at long-held cost basis, not market.
- Multi-generational hold, founding family operates and stewards the platform.
- First-loss equity, sponsor common sits behind every senior class.
A three-layer model — strategy, advisory, execution. $105K guaranteed in the first six months.
Experience audit, retreat product architecture, guest journey design, naming, pricing logic, sales-ready descriptions. 50/25/25 deposit schedule.
$10K/month, six months. Ongoing strategy, pricing refinement, buyer avatars, proposal review, launch guidance.
Greater of 20% of gross retreat revenue, $1K/guest, or $15K minimum. Only billed when ITA executes the retreat. Aligned with revenue.
Stabilization in 18 months. A structured exit, not a hope.
Capital is deployed across four monthly convertible tranches and two senior construction draws. Operations ramp on a defined cadence. At maturity, either path: refinance against stabilized NOI, or convert at 20 percent discount.
An honest view of the principal risks and the mitigations in place.
Every investment carries risk. The following summarizes the principal risks investors should consider, paired with the structural and operational mitigations engineered into the platform.
Construction and timeline
Phased construction, 10 percent contingency in budget, single experienced builder leading execution. Walnut Creek completion required for full capacity.
Retreat demand and pricing
ITA Global contracted as retreat operating partner with corporate retreat experience and established sales pipeline. Base case assumes 3.5 retreats per month at $4,500 per guest.
Operating ramp
12-month interest reserve plus 3-month interest-free senior debt ramp. Projected cash balance remains above zero throughout deployment.
Capital stack
Senior debt sits ahead. Convertible holders have downside protection through PIK accrual but are junior to the senior lender on real estate.
Conversion and exit
Converts to equity at maturity if not repaid. Equity value depends on stabilized NOI, prevailing cap rates, and operating execution.
Cross-border tax and regulatory
Canadian investors should obtain independent tax and legal advice. Mycelium Capital supports customary feeder or flow-through structuring.
A premium retreat destination. A revenue-producing platform. An experience-led brand.
TreeBox has the physical setting, natural beauty, and brand foundation to become more than a collection of unique stays. With the right experience strategy, capital, and operating partner, it becomes a destination for meaningful retreats, private buyouts, leadership gatherings, wellness resets, culinary experiences, and purpose-driven group travel.
A Premium Retreat Destination
Not just a place to stay; a place to gather, reset, reconnect. The kind of room corporate teams, founders, families, and high-touch travelers actively choose.
A Revenue-Producing Platform
Structured retreat products that attract higher-value group clients. Per-guest pricing. Buyouts. Repeatable, sellable, compoundable revenue.
An Experience-Led Brand
A hospitality identity built around intentional, memorable moments. A brand worth choosing, worth remembering, worth recommending.
Together, TreeBox and ITA Global create a premium retreat platform for groups seeking privacy, connection, nature, and intentional hospitality — in Amish Country, Ohio.
Participating in the offering.
A clear, structured path from initial indication of interest through final close.
Indication of Interest
Non-binding indication with intended commitment amount.
Subscription
Subscription documents, accredited certification, definitive term sheet.
Due Diligence
Full data room access: financial model, property files, management background.
Close & Fund
First closing July 2026. Monthly closings through October 2026.
Please read carefully before considering any investment.
Accredited Investors Only
This offering is available exclusively to accredited investors as defined under applicable U.S. and Canadian securities laws. Cross-border participants must meet the accreditation requirements of their applicable jurisdiction.
No Public Offering
This presentation is not an offer to sell or a solicitation of an offer to buy any security. Any offer will be made only by means of definitive subscription documents and the accompanying private placement materials, subject to applicable securities laws.
Forward-Looking Statements
Statements regarding future operations, financial projections, return scenarios, valuations, and timelines are forward-looking and subject to risks, uncertainties, and assumptions. Actual results may differ materially. Conservative, base, and expansion scenarios are illustrative only and not guarantees of performance.
Financial Model Basis
All financial figures are sourced from the TreeBox Ohio Financial Model V15 as of May 2026. Operating assumptions reflect stabilized retreat operations following phased development completion. Senior debt terms are preliminary.
Capital Stack Position
The preferred convertible is subordinate to senior institutional debt and senior to sponsor common equity. In the event of liquidation, distributions follow contractual priority.
Tax and Legal
Investors should obtain independent legal, tax, and financial advice from their own qualified advisors. Canadian investors should review cross-border tax considerations independently.
Confidentiality
This presentation is confidential and intended solely for the recipient. It may not be reproduced or distributed without the prior written consent of Mycelium Capital.
TreeBox Ohio
A connected platform. A protected position. A patient steward.