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Miami New Construction & Proposed Multifamily Projects 4Q19

ID PROPERTY UNITS 2 Modera Metro Phase II 422 5 Village 123 7 Vintage Gateway 255 Total Lease Up 749

10 10500 NW 78th Street 369 11 11055 West 36th Avenue 245 12 Biscayne 112 402 20 Parc Vista at Amelia 106 21 Alexan Doral 350 22 Elan at Downtown Doral South 383 23 Sanctuary Doral 226 24 One at University City, The 886 25 Mareas at Coral Reef, The 408 32 MiLa Phase III 486 33 Grand Doral 80 36 Soleste Bay Village 200 41 275 Fontainebleau Parc 133 45 Prestige Waterfront Redevelopment 51 48 Las Vistas at Amelia 174 49 Lanai Landings 54 Total Under Construction 4,553 2 mi Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective New Construction & Proposed Multifamily Projects 4Q19

ID PROPERTY UNITS 3 Soleste Twenty2 338 4 La Vida Apartments at Blue Lagoon 272 6 District West Gables Phase II 221 Total Lease Up 831

7 Downtown 5th 1,042 8 X Biscayne 646 9 Luma at Miami Worldcenter 434 13 Walk 346 14 No. 17 Residences 192 15 Modera Biscayne Bay 296 16 Plaza Coral Gables, The 174 17 Pura Vida Hialeah 260 18 MiMo Bay 237 19 640 West 18th Street 92 26 Gables Station 450 27 Century Parc Place 230 28 Miami Plaza 437 29 Reflections 138 30 AMLI Chiquita 719 31 Corridor, The Phase III 62 34 Monte Cassini 100 35 Soleste Alameda 310 37 Cassa Grove 130 38 Henry, The 120 39 Park - Line Miami 816 40 Midtown 6 447 42 MB Station 190 43 Lantower River Landing 507 44 Triton Center 325 46 Megacenter 57 47 Belle Isle Key 172 Total Under Construction 8,929 1 mi Source: Yardi Matrix

LEGEND Lease-Up Under Construction Planned Prospective Miami New Construction and Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP 1 Residences at THesis, The 1340 South Dixie Hwy Coral Gables FL 33134 Lease-Up 204 Coral Gables 03/31/2018 03/31/2020 12/25/2019 2 Modera Metro Dadeland Phase II 8215 SW 72nd Avenue Miami FL 33143 Lease-Up 422 South Miami 02/01/2018 03/31/2020 10/01/2019 3 Soleste Twenty2 2201 Miami FL 33155 Lease-Up 338 South Miami 04/18/2018 02/29/2020 07/01/2019 4 La Vida Apartments at Blue Lagoon 6600 NW 7th Street Miami FL 33126 Lease-Up 272 Airport 01/01/2018 02/29/2020 07/01/2019 5 Caribbean Village 19755 SW 110th Court Miami FL 33157 Lease-Up 123 Goulds 08/01/2018 01/31/2020 10/01/2019 6 District West Gables Phase II 2101 SW 67th Avenue Miami FL 33155 Lease-Up 221 South Miami 02/01/2016 01/31/2020 09/30/2017 Total Lease-Up 1,580 7 Downtown 5th 501 North Miami FL 33136 Under Construction 1,042 Miami - Downtown 12/01/2019 02/28/2023 8 X Biscayne 400 Biscayne Blvd Miami FL 33132 Under Construction 646 Miami - Downtown 11/01/2019 01/31/2022 9 Luma at Miami Worldcenter 150 NE 7th Street Miami FL 33132 Under Construction 434 Miami - Downtown 09/01/2019 12/31/2021 10 10500 NW 78th Street 10500 NW 78th Street Doral FL 33178 Under Construction 369 Doral 11/01/2019 07/31/2021 11 11055 West 36th Avenue 11055 West 36th Avenue Hialeah FL 33018 Under Construction 245 Hialeah 09/30/2019 02/28/2021 12 Biscayne 112 11200 Biscayne Blvd North Miami FL 33181 Under Construction 402 North Miami 07/22/2019 02/28/2021 13 Miami River Walk 1001 NW 7th Street Miami FL 33136 Under Construction 346 Miami - 04/01/2019 01/31/2021 14 No. 17 Residences Allapattah 1569 NW 17th Avenue Miami FL 33125 Under Construction 192 Miami - Allapattah 10/22/2019 01/31/2021 15 Modera Biscayne Bay 412 NE 22nd Street Miami FL 33137 Under Construction 296 Miami - 08/31/2019 01/31/2021 16 Plaza Coral Gables, The 2901 Ponce de Leon Blvd Coral Gables FL 33134 Under Construction 174 Coral Gables 12/31/2018 01/31/2021 17 Pura Vida Hialeah 2901 West 16th Avenue Hialeah FL 33012 Under Construction 260 Hialeah 12/01/2019 01/31/2021 18 MiMo Bay 6445 NE 7th Avenue Miami FL 33138 Under Construction 237 Miami - Upper East Side 04/01/2019 12/31/2020 19 640 West 18th Street 640 West 18th Street Hialeah FL 33010 Under Construction 92 Hialeah 07/31/2019 12/31/2020 20 Parc Vista at Amelia 7755 West 4th Avenue Hialeah FL 33014 Under Construction 106 Hialeah 09/30/2019 12/31/2020 21 Alexan Doral 3900 NW 79th Avenue Doral FL 33166 Under Construction 350 Doral 01/01/2019 12/31/2020 22 Elan at Downtown Doral South 8425 NW 41st Street Doral FL 33166 Under Construction 383 Doral 06/27/2019 12/31/2020 23 Sanctuary Doral 9400 NW 41st Street Doral FL 33178 Under Construction 226 Doral 04/01/2019 12/31/2020 24 One at University City, The 740 SW 109th Avenue Miami FL 33174 Under Construction 886 Fontainebleau - University Park 10/31/2018 12/31/2020 25 Mareas at Coral Reef, The SW 124th Avenue & SW 152nd Street Miami FL 33177 Under Construction 408 Three Lakes 08/01/2018 12/31/2020 26 Gables Station 251 South Dixie Hwy Coral Gables FL 33133 Under Construction 450 Coral Gables 09/01/2018 11/30/2020 27 Century Parc Place 850 NW 42nd Avenue Miami FL 33126 Under Construction 230 Miami - 04/30/2019 10/31/2020 28 Miami Plaza 1502 NE Miami Place Miami FL 33132 Under Construction 437 Miami - Edgewater 04/02/2019 09/30/2020 29 Reflections 1000 NW 7th Street Miami FL 33136 Under Construction 138 Miami - Little Havana 04/30/2019 06/30/2020

Source: Yardi Matrix Miami New Construction and Proposed Multifamily Projects

PERMIT FORECASTED START OF ID PROPERTY NAME ADDRESS CITY STATE ZIP STATUS UNITS SUBMARKET DATE COMPLETION DATE RENT-UP 30 AMLI Chiquita 2900 NE 2nd Avenue Miami FL 33137 Under Construction 719 Miami - Edgewater 06/30/2018 06/30/2020 31 Corridor, The Phase III 760 NE 85th Street Miami FL 33138 Under Construction 62 Miami - Upper East Side 04/01/2019 06/30/2020 32 MiLa Phase III 20901 San Simeon Way Miami FL 33179 Under Construction 486 North Miami Beach 02/28/2019 06/30/2020 33 Grand Doral 10950 NW 82nd Street Doral FL 33178 Under Construction 80 Doral 06/30/2019 06/30/2020 34 Monte Cassini 3900 NW 7th Street Miami FL 33126 Under Construction 100 Miami - Flagami 01/31/2019 05/31/2020 35 Soleste Alameda SW 8th Street & SW 64th Avenue Miami FL 33144 Under Construction 310 Miami - Flagami 08/01/2018 05/31/2020 36 Soleste Bay Village 18301 South Dixie Hwy Miami FL 33157 Under Construction 200 Kendall 08/31/2018 05/31/2020 37 Cassa Grove 2900 SW 28th Lane Miami FL 33133 Under Construction 130 Miami - 02/01/2018 04/30/2020 38 Henry, The 4131 Laguna Street Coral Gables FL 33146 Under Construction 120 Coral Gables 06/30/2018 04/30/2020 39 Park - Line Miami 100 NW 6th Street Miami FL 33128 Under Construction 816 Miami - Downtown 08/01/2017 03/31/2020 40 Midtown 6 3101 NE 1st Avenue Miami FL 33137 Under Construction 447 Miami - 02/28/2018 03/31/2020 Fontainebleau - University 41 275 Fontainebleau Parc 275 Fontainebleau Blvd Miami FL 33172 Under Construction 133 Park 03/31/2019 03/31/2020 42 MB Station 3170 Miami FL 33145 Under Construction 190 Miami - Coral Way 12/31/2017 02/29/2020 43 Lantower River Landing 1480 NW North River Drive Miami FL 33125 Under Construction 507 Miami - Allapattah 12/01/2017 02/29/2020 44 Triton Center 7880 Biscayne Blvd Miami FL 33138 Under Construction 325 Miami - Upper East Side 01/31/2018 02/29/2020 45 Prestige Waterfront Redevelopment 13150 Memorial Hwy Miami FL 33161 Under Construction 51 North Miami 12/31/2018 02/29/2020 46 Megacenter Brickell 420 SW 7th Street Miami FL 33130 Under Construction 57 Miami - Little Havana 10/01/2018 01/31/2020 47 Belle Isle Key 31 Venetian Cswy Miami Beach FL 33139 Under Construction 172 Miami - Edgewater 08/01/2018 01/31/2020 48 Las Vistas at Amelia 7925 West 2nd Court Hialeah FL 33014 Under Construction 174 Hialeah 02/01/2018 01/31/2020 49 Lanai Landings 14550 Mable Street Homestead FL 33032 Under Construction 54 Homestead 12/31/2018 01/31/2020 Total Under Construction 13,482 TOTAL MIAMI 15,062

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