# Personal Financial Statement — Carlos Blanco
*Source: PFS Excel spreadsheet (bank format), parsed March 23, 2026*

---

## BALANCE SHEET SUMMARY

### ASSETS

| Category | Amount | Details |
|----------|--------|---------|
| **Cash & Deposits** | **$62,166,807** | |
| — Charles Schwab | $62,112,300 | Investment accounts |
| — HSBC Bank | $6,100,000 | Investment accounts |
| — Chase Bank | $2,573,248 | Checking |
| **Securities (Marketable)** | **$33,361,313** | Stocks & bonds |
| — Market Value (listed) | $10,837,000 | Per Schedule 2 |
| **Accounts/Notes Receivable** | **$1,400,000** | |
| — ESP Revolution Corp | $1,400,000 | Note receivable |
| **Real Estate — Primary Residence** | **$15,650,000** | |
| — 1020 Mariner Drive, Key Biscayne FL 33149 | $15,650,000 | Lienholder: HSBC, no debt listed |
| **Real Estate — Other Wholly-Owned** | **$29,836,826** | |
| — 445 Grand Bay Drive #308 | $5,010,471 | Lienholder: JP Morgan |
| — 1395 Brickell Ave #2710 | $575,000 | No debt |
| — La Isla Colunga | $900,000 | |
| — Ocala Lots | $1,731,280 | 52 lots |
| — Ocala/Palm Coast Homes | $21,620,075 | 72 houses |
| **Other Partnership Interests** | **$5,003,630** | |
| **Other Assets** | **$700,000** | |
| **Personal Assets** | **$260,000** | |
| | | |
| **TOTAL ASSETS** | **$148,378,576** | |

### LIABILITIES

| Category | Amount | Details |
|----------|--------|---------|
| **Mortgages — Wholly-Owned RE** | **$27,355,312** | |
| **Notes Payable — Margin/Other** | **$52,314,256** | Margin accounts |
| **Loans on Life Insurance** | **$600,000** | |
| | | |
| **TOTAL LIABILITIES** | **$80,269,568** | |

### NET WORTH

| | Amount |
|--|--------|
| Total Assets | $148,378,576 |
| Total Liabilities | $80,269,568 |
| **NET WORTH** | **$68,109,008** |
| **Leverage Ratio** | **54.1%** |

---

## ANNUAL INCOME (2025)

| Source | Amount |
|--------|--------|
| Salary & Wages | $100,000 |
| Interest & Dividends | $1,093,191 |
| Real Estate Income | $815,100 |
| Other Income | $1,400,000 |
| **TOTAL INCOME** | **$3,408,291** |

---

## ADDITIONAL SCHEDULES

### Schedule 1 — Cash & Deposits ($70,785,548)
- Charles Schwab: $62,112,300 (Investment)
- HSBC Bank: $6,100,000 (Investment)
- Chase Bank: $2,573,248 (Checking)

### Schedule 2 — Securities ($10,837,000 listed market value)
- Total Marketable: $10,837,000
- Note: Balance Sheet shows $33,361,313 in securities — difference may be Schwab portfolio positions included in cash/investment

### Schedule 3 — Notes Receivable ($1,400,000)
- ESP Revolution Corp: $1,400,000

### Schedule 4 — Life Insurance
- Face Amount: $62,732,723
- Net Cash Value: $0 (no surrender value listed)

### Schedule 7 — Real Estate

**Primary Residence:**
| Property | Value | Debt | Lienholder |
|----------|-------|------|-----------|
| 1020 Mariner Drive, Key Biscayne FL 33149 | $15,650,000 | $0 | HSBC (no balance listed) |

**Other Wholly-Owned:**
| Property | Value | Debt | Lienholder |
|----------|-------|------|-----------|
| 445 Grand Bay Drive #308 | $5,010,471 | — | JP Morgan |
| 1395 Brickell Ave #2710 | $575,000 | $0 | N/A |
| La Isla Colunga | $900,000 | — | — |
| Ocala Lots (52) | $1,731,280 | — | — |
| Ocala/Palm Coast Homes (72) | $21,620,075 | — | — |
| **Total** | **$29,836,826** | | |

---

## ORGANIZATIONAL STRUCTURE (from Org Chart)

### Carlos Blanco Sanchez — Personal Holdings

**Trust Structure:**
- **Carlos Blanco Revocable Trust** — main holding entity
  - Owns 80% of: ESP 0208 LLC, CBSB 0208 LLC, BA 0208 LLC, ESP STE SF LLC
  - Owns 50% of: CBS Boat M LLC
- **CBS 2021 Security Trust** (Irrevocable) — CBS LLC (Life Insurances)
- **CBS Legacy Trust** (Irrevocable)
  - Owns 20% of: ESP 0208, BA 0208, CBSB 0208, ESP STE SF
  - Owns 50% of: CBS Boat M LLC
- **RAJR 2021 LLC** (100%) — $1M gift tax entity
  - Owns 20% of: ESP Orbes LLC, CBS Car Management LLC, COPSOV LLC, O Data Analytics

**Core Operating Entities:**
- **ESP Apartments LLC** (100%) — main RE operating company
  - ESP STE Orlando LLC (100%) → ESP STE Orlando I through V
  - Sovereign at Hometown LLC (70%) — Dallas development
    - Sovereign at Hometown Holding LLC (70%)
    - Sovereign at Hometown Manager LLC (70%)
    - Sovereign at Hometown Member LLC (70%)
    - Sovereign at Hometown Mezz LLC (70%)
    - Other investor: 30%
  
- **ESP Holdings Corp** (66%, ESP Apartments 1%)
  - ESP 0208 LLC (80%)
  - BA 0208 LLC (80%)
  - CBSB 0208 LLC (80%)
  - ESP Orbes LLC (80%)
  - ESP STE SF LLC (80%)
  - CBS Boat M LLC (50%)
  - CBS Car Management LLC (80%)
  - COPSOV LLC (80%)
  - O Data Analytics (80%) — *SmartHive app*

**Investment/Tech Ventures:**
- **Quarantine Tech LLC** (60%, other investor 40%)
- **ESP Revolution Corp** (100% — fully owned, updated March 2026)
  - ESP Real Estate Innovation LLC
  - ESP SPV Town LLC
  - Copernico Sovereign LLC
  - ESP Energy Innovation LLC
  - ESP Tech Innovation LLC
  - ESP SPV BT LLC
- **Copernico Sovereign Manager LLC** (50%, RK Copsov 50%)

**International/Other:**
- **Orbes DUO UK** — International
- **II LLC** (7.15%, 3 other investors)
- **OSU I LLC** (2%)
- **ESP BT ILAW LLC** (100%)
- **Carlos Blanco White Foundation** (USA)

**JV/Legacy (minimal/winding down):**
- Alvarez Bringas vs Blanco Sanchez (G5%)
- TTL23 LLC (100%)
- FLR Develop LLC (100%) — only a liability
- COP Dallas I LLC (60%) — 2023 tax return filed, waiting to be dissolved
- GON FL Project (5%), REJU FL Project (5%), JAML FL Project (5%) — no assets, only debt

**Key Insight:** $10M investment in Hello Alfred (under Sovereign at Hometown, 7/21/2025)