Shenandoah Arms 1876 SW 11Th Terrace Miami, FL 33135

Shenandoah Arms 1876 SW 11th Terrace Miami, FL 33135

exclusive listing Deme Mekras Elliot Shainberg CEO, Managing Partner Managing Partner Direct:786.671.0149 Direct:786.671.0151 [email protected] [email protected] MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Table of Contents Confidentiality Disclaimer This is a confidential Offering Memorandum intended solely for your limited use and benefit in de- termining whether you desire to express further interest into the acquisition of the Subject Property. This Offering Memorandum contains selected information pertaining to the Property and does not Section 1...... Property Description purport to be a representation of state of affairs of the Owner or the Property, to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, Section 2...... Financial Analysis competition, and other factors beyond the control of the Owner or MSP Group ,LLC. Therefore, all projections, assumptions, and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approxima- tions. Additional information and an opportunity to inspect the Property will be made available to all interested and qualified prospective purchasers. Neither the Owner or MSP Group, LLC. , nor any Section 3...... Sales Comparables of their respective directors, officers, affiliates or representatives are making any representation or warranty, expressed or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Offering Memorandum or use of its contents; and you are to rely solely on your own inves- Section 4...... Rent Comparables tigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Offering Mem- Section 5...... About MSP Group orandum. The Owner shall have no legal commit-ment or obligation to any entity review- ing this Offering Memorandum or making an offer to purchase the Prop-erty unless and un- til written agreement(s) for the purchase of the Property have been fully executed, delivered, and approved by the Owner and any obligations therein have been satisfied or waived. By receipt of the Offering Memorandum, you agree that this Offering Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Offering Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or MSP Group, LLC. Furthermore , you agree not to use this Offering Mem- orandum or any of its con-tents in a manner detrimental to the interest of the Owner or MSP Group, LLC. In this Offering Memorandum, certain documents, including leases and other materials, are de- scribed in summary form. These summaries do not purport to be complete nor necessarily accu- rate descriptions of the full agreements referenced. Interested parties are so advised and expect- ed to review all such summaries and other documents of whatever nature independently and not to rely on `the contents of this Offering Memoran-dum in any manner. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MSP Group, LLC AGENT FOR MORE DETAILS

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Property description Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Property description

Property Name: Shenandoah Arms Address: 1876 SW 11th Terrace City, State Zip: Miami, FL 33135 County: Miami-Dade Folio: 01-4110-063-3740 Units: 18 Total Square Feet: 11,542 Year Built: 1925/2007 Lot Size(Acres): 0.20 # of Buildings: 1 # of Stories: 3 Framing: CBS Exterior Wall: Painted Stucco Roof Structure: Flat Wood Roof Covering: Built Up HVAC: Central #Parking Spaces: 13 Shenandoah Arms is an 18 unit multifamily building originally constructed in 1925. The property was gut renovated in 2007, with all new impact windows, complete plumbing and electric system overhaul, installation of central air conditioning for every unit, washers and dryers in every unit, tile throughout the building and completely updated kitchens with quartz counter tops and stainless steel appliances. The property has a unit mix of 3 studios, 9 one bed one bathroom units, 4 one bed one bathroom units with a den, and 2 two bedroom 1 bathroom units. The property also offers tenants 13 on-site parking spaces and ample on street parking for free. The Property is located in the Shenandoah neighborhood, nesstled between the Roads area and Little Havana, just south of the famed Calle Ocho, and just north of beautifully tree-lined Coral Way. The neighborhood displays beautiful revivalist architecture and is just minutes from the affluent City of Coral Gables, Coconut Grove and illustrious Brickell Avenue, home to Miami’s financial district. The site is unique in that it is one of the few multifamily properties in a neighborhood dominated by single family homes. Many of these homes have been substantially updated and display the revivalist architecture shown in the enclosed aerial. Shenandoah Arms offers tenants a rare value alternative to the expensive rental rates in Brickell, Downtown Miami and the surrounding areas; which in turn offers investors the opportunity to buy a building with an effective year built of 2007 and a reliable income stream. MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 neighborhood map

SHENANDOAH ARMS

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Aerial

SHENANDOAH ARMS

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 neighborhood Aerial

SHENANDOAH ARMS

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com 6 4 Biscayne Bay

2 1

1 - Brickell Financial District 2 - Downtown Miami 2.5 Miles

3 - Miami River 8 4 - Brickell Key 5 - Rickenbacker Causeway 6 - Macarthur Causeway 7 - American Airlines Arena 8 - Coconut Grove 9 - American Airlines Arena SHENANDOAH 10 - Health District (Miami) ARMS Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Floor plans

1 Bedroom - 415 SF

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Floor plans

1 Bedroom - 415 SF

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Floor plans

1 Bedroom W/Den - 533 SF

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Floor plans

2 Bedroom W/Den - 648 SF

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com financial analysis Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Unit mix

Current Market Pro Forma # of Units Unit Type SF Rent Range Wtd Average Rent SF Rent Rent SF Rent Rent SF PF Gr 3 Studio 328 $850 - $850 $850 $2.59 $850 $2.59 $1,000 $3.05 17.65% 9 1 Bed 1 Bath 415 $950 - $995 $960 $2.31 $995 $2.40 $1,100 $2.65 14.58% 4 1 Bed 1 Bath D 533 $1,050 - $1,150 $1,100 $2.06 $1,150 $2.16 $1,300 $2.44 18.18% 2 2 Bed 1 Bath D 648 $1,250 - $1,350 $1,300 $2.01 $1,350 $2.08 $1,400 $2.16 7.69%

18 Rentable: 8,147 $1,011 $2.23 $1,045 $2.31 $1,161 $2.57 14.90% Total: 11,542

Current Monthly Pro Forma Monthly

2 Bed 1 Bath D, 11% Potential Rent Potential Rent Studio, 17% $18,190 $20,900

Current Annual Pro Forma Annual Potential Rent Potential Rent $218,280 $250,800 1 Bed 1 Bath D, 22%

1 Bed 1 Bath, 50%

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 income and expense

Loan Assumptions List Price $2,500,000 Down Payment: 30% $750,000 $/Unit $138,889 Loan Amount: 70% $1,750,000 $/SF $217 Interest Rate: 4.10% 7 Years Fixed Current Pro Forma Amortization: 30 Years 2 Years Interest Only Cap Rate 4.50% 5.83% DSCR/Debt Yield 1.57 6.43% 2.03 8.33% Leveraged Return 5.44% 9.87% Total Return 5.44% 9.87% Income % Per Unit Current % Per Unit Pro Forma Gross Potential Rent (GPR) $12,773 $225,660 $13,933 $250,800 Loss to Lease -3.27% ($410) ($7,380) 0.00% $0 $0 Parking Income 0.00% $0 $0 1.56% $217 $3,900

Gross Potential Income (GPI) $12,127 $218,280 $14,150 $254,700 Vacancy -5.00% ($606) ($10,914) -5.00% ($697) ($12,540)

Effective Gross Income $11,520 $207,366 $13,453 $242,160 Expenses Taxes 20.21% $2,328 $41,905 17.30% $2,328 $41,905 Insurance 3.92% $452 $8,136 3.36% $452 $8,136 Water/Sewer 4.50% $519 $9,341 3.86% $519 $9,341 Electric 0.29% $33 $600 0.25% $33 $600 Trash 2.75% $317 $5,704 2.36% $317 $5,704 Repairs and Maintenance 4.34% $500 $9,000 3.72% $500 $9,000 Management 4.50% $518 $9,331 4.50% $605 $10,897 General and Administrative 2.17% $250 $4,500 1.86% $250 $4,500 Contract Services 0.86% $99 $1,781 0.74% $99 $1,781 Reserves & Replacements 2.17% $250 $4,500 1.86% $250 $4,500

Total Expenses 45.72% $5,267 $94,798 39.79% $5,354 $96,364 Net Operating Income (NOI) $6,254 $112,568 $8,100 $145,796 Debt Service DSCR 1.57 $71,750 DSCR 2.03 $71,750 Leveraged Return 5.44% $40,818 9.87% $74,046 Principal Paydown $0 $0 Total Return 5.44% $40,818 9.87% $74,046

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com sales comparables Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Sales comparables

Shenandoah Arms

1 1536 SW 9th Street

2 1700 SW 19th Street

3 2401 Coral Way 4 5 4 Havana Park 1

5 Gables Edge Apartments 6

7 6 1200-30 SW 42nd Avenue

2 7 1440 SW 42nd Avenue

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Sales comparables

Price Per Unit $200,000

$180,000 Average $160,000 $159,445

$140,000

$120,000

$100,000

$80,000

$60,000

$40,000

$20,000

$0 Shenandoah Arms 1536 SW 9th Street 1700 SW 19th Street 2401 Coral Way Havana Park Gables Edge 1200-30 SW 42nd 1440 SW 42nd Avenue Apartments Avenue

Price Per SF $350.00

$300.00

$250.00 Average $227.85 $200.00

$150.00

$100.00

$50.00

$0.00 Shenandoah Arms 1536 SW 9th Street 1700 SW 19th Street 2401 Coral Way Havana Park Gables Edge 1200-30 SW 42nd 1440 SW 42nd Avenue Apartments Avenue

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Sales comparables

Subject Sales Comparable 1 Sales Comparable 2

Shenandoah Arms Price: $2,500,000 1536 SW 9th Street Price: $2,190,000 1700 SW 19th Street Price: $6,073,000 1876 SW 11th Terrace Total Units: 18 Miami, FL 33135 Total Units: 18 1904 SW 17th Avenue Total Units: 31 Miami, FL 33135 Price/Unit: $138,889 Price/Unit: $121,667 Miami, FL 33145 Price/Unit: $195,903 Year Built: 1925/2007 Price/SF: $217 Year Built: 1932 Price/SF: $191 Year Built: 1968/69 Price/SF: $237 Sale Date: On Market Sale Date: 8/5/2016 Sale Date: 8/24/2016

Unit Type # Avg SF Unit Type # Avg SF Unit Type # Avg SF Studio 3 328 Studio 5 N/A 1 Bed 1 Bath 5 N/A 1 Bed 1 Bath 9 415 1 Bed 1 Bath 13 N/A 2 Bed 1 Bath 26 N/A 1 Bed 1 Bath D 4 533 2 Bed 1 Bath D 2 648

Total/Average 18 11,542 18 11,439 31 25,655

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Sales comparables

Sales Comparable 3 Sales Comparable 4 Sales Comparable 5

2401 Coral Way Price: $1,925,000 Havana Park Price: $1,560,000 Gables Edge Apartments Price: $3,130,000 Coral Gables, FL 33145 Total Units: 14 927-935 SW 6th Street Total Units: 12 914 SW 31st Avenue Total Units: 16 Price/Unit: $137,500 Miami, FL 33130 Price/Unit: $130,000 Miami, FL 33135 Price/Unit: $195,625 Year Built: 1956 Price/SF: $201 Year Built: 1966 Price/SF: $193 Year Built: 2015 Price/SF: $311 Sale Date: 11/3/2016 Sale Date: 1/26/2016 Sale Date: 5/31/2016

Unit Type # Avg SF Unit Type # Avg SF Unit Type # Avg SF 1 Bed 1 Bath 10 N/A 2 Bed 1 Bath 12 673 1 Bed 1 Bath 1 616 2 Bed 1 Bath 500 4 N/A 1 Bed 1 Bath 15 630

Total/Average 14 9,580 12 8,076 16 10,066

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Sales comparables

Sales Comparable 6 Sales Comparable 7

1200-30 SW 42nd Avenue Price: $1,250,000 1440 SW 42nd Avenue Price: $2,150,000 12001230 SW 42nd Avenue Price: $1,250,000 Miami, FL 33135 Total Units: 8 Miami, FL 33134 Total Units: 12 Miami, FL 33135 Total Units: 8 Price/Unit: $156,250 Price/Unit: $179,167 Price/Unit: $156,250 Year Built: 1958/61 Price/SF: $232 Year Built: 1947 Price/SF: $230 Year Built: 1958/61 Sale Date: 1/25/2016 Sale Date: 3/14/2016 Sale Date: 1/25/2016

Unit Type # Avg SF Unit Type # Avg SF Unit Type # Avg SF 1 Bed 1 Bath 4 N/A 2 Bed 1 Bath 12 781 1 Bed 1 Bath 4 N/A 2 Bed 1 Bath 4 N/A 2 Bed 1 Bath 4 N/A

Total/Average 8 5,383 12 9,367 8 5,383

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Rent comparables Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 rent comparables

Shenandoah Arms

1 1754 SW 14th Street

2 2701 SW 10th Street

3 1401 SW 32nd Avenue 4 2 4 1536 SW 9th Street

1 3

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 rent comparables

Occupancy Rate Average Average Unit Size 100% 100% 700 90% Average 600 598 80% 70% 500

60% 400 50% 40% 300 30% 200 20% 100 10% 0% 0

Average Rent Average Rent Per SF $1,400 $3.00 Average $1,200 $1,156 $2.50 Average $1,000 $2.00 $1.95 $800 $1.50 $600 $1.00 $400

$200 $0.50

$0 $0.00

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Rent Sort - Asking rent

Studios 1 Bedrooms Property Name Unit Type # SF Asking Rent Rent/SF Property Name Unit Type # SF Asking Rent Rent/SF 1536 SW 9th Street Studio 5 N/A $1,000 N/A Shenandoah Arms PF 1 Bed 1 Bath D 4 533 $1,300 $2.44 Shenandoah Arms PF Studio 3 328 $1,000 $3.05 1754 SW 14th Street 1 Bed 1 Bath 8 630 $1,250 $1.98 Shenandoah Arms Studio 3 328 $850 $2.59 1536 SW 9th Street 1 Bed 1 Bath 13 N/A $1,250 N/A Average 328 $950 $2.82 Shenandoah Arms 1 Bed 1 Bath D 4 533 $1,100 $2.06 1401 SW 32nd Avenue 1 Bed 1 Bath 36 500 $1,100 $2.20 Shenandoah Arms PF 1 Bed 1 Bath 9 415 $1,100 $2.65 2701 SW 10th Street 1 Bed 1 Bath 29 N/A $1,025 N/A Shenandoah Arms 1 Bed 1 Bath 9 415 $960 $2.31 2 Bedroms Average 504 $1,136 $2.28 Property Name Unit Type # SF Asking Rent Rent/SF Shenandoah Arms PF 2 Bed 1 Bath D 2 648 $1,400 $2.16 Shenandoah Arms 2 Bed 1 Bath D 2 648 $1,300 $2.01 2701 SW 10th Street 2 Bed 1 Bath 18 N/A $1,225 N/A Average 648 $1,308 $2.08

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 rent comparables

Subject Rent Comparable 1 Rent Comparable 2

Shenandoah Arms Total Units: 18 1754 SW 14th Street Total Units: 8 2701 SW 10th Street Total Units: 47 1876 SW 11th Terrace Occupancy: 100% Miami, FL 33145 Occupancy: 100% Miami, FL 33135 Occupancy: 100% Miami, FL 33135 Year Built: 1925/2007 Year Built: 1930 Year Built: 1968 Comments: Comments: Comments: Completely rebuilt in 2007. Improvements included all mechanical The exterior of the property was recently renovated and unit The property has new windows, updated kitchens, bathrooms and (electrical, plumbing, structure & fire saftey), all new central air interiors have tile floors and central air conditionig. Kitchedns have central air conditioning. 2 bedroom units rent from $1,200 and conditioning with roof mounted compressors on stands, impact formica tops and standard appliances. Washer and dryer in the unit corner 2 bedroom units rent for $1,250. On site parking, but no windows, tile floors throughout, washer/dryer in every unit, new and on site parking washer dryers in unit. kitchens & bathrooms with quartz counter tops and stainless steel appliances. 13 on site parking spaces Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF Studio 3 328 $850 $2.59 1 Bed 1 Bath 8 630 $1,250 $1.98 1 Bed 1 Bath 29 N/A $1,025 N/A 1 Bed 1 Bath 9 415 $960 $2.31 2 Bed 1 Bath 18 N/A $1,200 N/A 1 Bed 1 Bath D 4 533 $1,100 $2.06 2 Bed 1 Bath N/A $1,250 N/A 2 Bed 1 Bath D 2 648 $1,300 $2.01

Total/Average 18 453 $1,011 $2.23 8 630 $1,250 $1.98 47 627 $1,092 $1.74

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com Shenandoah Arms | 1876 SW 11th Terrace Miami, FL 33135 Rent comparables

Rent Comparable 3 Rent Comparable 4

1401 SW 32nd Avenue Total Units: 36 1536 SW 9th Street Total Units: 18 Property Name/Adrdress Total Units: 100 Miami, FL 33145 Occupancy: 100% Miami, FL 33135 Occupancy: 100% Address Occupancy: 95% Year Built: 1953 Year Built: 1932 City, State , Zip Year Built: Comments: Comments: Comments: Wall unit air conditioning but complete renovation inside and out. Jalousie windows and wall air conditioning units, no on site had,sjhfjksdhfskdjhfsdkjgfhsfdkjghskdjfhasdjkfhdsjkfhsdjkfhsdj No washer dryers in unit. parking, no washer dryers in unit. kfhsdjkfhsdjkfhasdjkfhasdjkfhasdkjfhasdjkfhghjgfhjghjgjhghjgjh gjhghjgthjghjghjghjghjghjgjhgjhgjhgjhgjhgjhhjghjghjghjg

Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF Unit Type # Avg SF Rent Rent/SF 1 Bed 1 Bath 36 500 $1,100 $2.20 Studio 5 N/A $1,000 N/A Studio 25 400 $525 $1.31 1 Bed 1 Bath 13 N/A $1,250 N/A 1 Bed 1 Bath 25 500 $625 $1.25 2 Bed 1 Bath 25 650 $725 $1.12 2 Bed 2 Bath 25 750 $825 $1.10 0 0 0 $0 #DIV/0! 0 0 0 $0 #DIV/0! 0 0 0 $0 #DIV/0! 0 0 0 $0 #DIV/0! 0 0 0 $0 #DIV/0! 0 0 0 $0 #DIV/0! 0 0 0 $0 #DIV/0! 0 0 0 $0 #DIV/0! 0 0 0 $0 #DIV/0! #DIV/0! Total/Average 36 500 $1,100 $2.20 18 636 $1,181 $1.86 100 575 $675 $1.17

MSP Group LLC | 7480 Bird Road PH 830 | www.MSPGroup.com about msp group TEAM BIOGRAPHIES

REAL ESTATE EXPERTISE Deme Mekras is CEO, Managing Partner and Co-Founder of MSP Group LLC. Specializing in multifamily brokerage throughout South Florida, Deme brings to the table more than 14 years of experience with career closings surpassing $600 million. Deme has a wealth of knowledge to draw from when advising his clients as they navigate buying, selling, and financing investment real estate. Deme not only has a command of the multifamily market, but also has expertise that spans into the retail, office, and development sectors. Although the majority of his extensive track record is in South Florida, he has closed deals in seven states.

He has executed transactions for private investors, local, and regional banks, large institutions, national special servicers, operators backed by hedge funds, and national agencies such as Fannie Mae. Most importantly, Deme, along with the entire MSP team pride themselves on treating their clients like family, personifying the consultative approach to investment real estate. He is adept in the options and implications surrounding real estate investing and helps his clients consider all options and their respective risks and opportunities.

EXPERIENCE/PROFESSIONAL HISTORY Prior to co-founding MSP Group LLC, Deme was recruited by Franklin Street Real Estate Services and served as Regional Managing Partner for more than two years. During his tenure at Franklin Street, he successfully developed the brand in the South Florida marketplace where previous to Deme’s efforts, the firm had zero investment sales presence and zero market share. Deme lead his team successfully and completed more than $150 million in transaction volume during their tenure at Franklin Street. Deme received the Sales Achievement Award at Franklin Street in 2014.

Prior to Franklin Street, Deme worked at Marcus & Millichap from 2002 through 2012 and served as a founding member DEME MEKRAS of its Miami office which opened in 2005. Based on his stellar performance, he was later promoted to Vice President of Investments. Deme was also a member of the Seven-Figure Club and earned numerous sales recognition awards, consistently performing as one of the top agents in the office. Having worked in a variety of industries prior to his career in real estate, Deme gained valuable sales experience with DIRECT:786-671-0149 telecom providers such as MCI/WorldCom and Southeast Telephone. Deme earned a Bachelor of Business Administration from Southern Methodist University in Dallas where he majored in Organizational Behavior and Business Policy and MOBILE:786-208-2684 received a double minor in Spanish and Latin American Studies. A Miami native, Deme is fluent in both English and Spanish. [email protected]

EDUCATION SALES ACHIEVEMENTS/AWARDS

Southern Methodist University • Surpassed $600 Million in Closed Deals • BBA in Organizational Behavior and Business Policy, 1998 • Surpassed 8,000 units Closed • Double Minor Spanish and Latin American Studies • Power Leader - South Florida Business Journal, 2014 • Licensed Real Estate Broker - Florida • Sales Achievement Award - Franklin Street, 2014 • Company Sales Plaque—Marcus & Millichap, 2005,2006, 2012 • Seven-Figure Club—Marcus & Millichap, 2009-2012 TEAM BIOGRAPHIES

REAL ESTATE EXPERTISE Elliot Shainberg is Co-Founder and Managing Partner of MSP Group LLC. Specializing in multifamily brokerage throughout South Florida, Elliot brings to the table more than 13 years of experience with career closings surpassing $370 million.

The majority of Elliot’s track record is in South Florida, but he previously sold and managed multifamily properties in New York City. He has executed business for private investors, local, and regional banks, large institutions, national special servicers, operators backed by hedge funds and national agencies such as Fannie Mae.

Elliot is a champion of the MSP Group brand of doing business and prides himself on treating his clients like family. Elliot and his team are steadfast in their efforts to advise clients on all of their options and implications surrounding their real estate investments. Helping them to consider both their respective risks and opportunities. Elliot, like the entire MSP Group team, understands that the client’s agenda is the only agenda.

EXPERIENCE/PROFESSIONAL HISTORY Prior to co-founding MSP Group LLC, Elliot was recruited by Franklin Street Real Estate Services served as Senior Director for more than two years. During his tenure at Franklin Street, he and his team successfully developed the brand in South Florida where previous to their efforts, the firm had zero investment sales presence or market share. Elliot and his team successfully completed more than $150 million in transaction volume during their tenure at Franklin Street. Elliot received the Sales Achievement Award at Franklin Street in 2014.

Prior to Franklin Street, Elliot worked at Marcus & Millichap from 2003 through 2012, successfully closing business ELLIOT SHAINBERG during the run up of 2004-2007 and during the subsequent downturn of 2008-2011. Elliot was Marcus & Millichap’s Number One Multifamily Agent for the Miami office in 2009.

Before venturing into the world of real estate, Elliot gained valuable sales experience at CompuPay (now BenefitMall) DIRECT:786-671-0151 selling payroll services to businesses in New York City. Elliot earned a Bachelor of Political Science from Yeshiva University in New York. He is a California native that spent about 10 years in New York City prior to moving to South Florida, where MOBILE:917-992-6189 he has resided since 2003. [email protected] EDUCATION SALES ACHIEVEMENTS/AWARDS

Yeshiva University • Surpassed $370 Million in career closings • 4,500 + Units Closed • BA in Political Science • Sales Achievement Award - Franklin Street, 2014 • Licensed Real Estate Salesperson - Florida • #1 Agent Marcus & Millichap Miami Office—2009 TEAM BIOGRAPHIES

REAL ESTATE EXPERTISE/PROFESSIONAL HISTORY Sam brings more than 4 years of industry experience to the MSP Group team. He began his real estate career with one of the nation’s largest commercial brokerage firms, Marcus & Millichap and then gained additional perspective and experience with more than 2 years at a smaller regional firm Franklin Street, which had recruited the entire team.

Sam was a founding team member of the MSP family; having been with the company since it opened its doors in 2015. Sam’s contributions to the the team and its clients is invaluable particularly with respect to underwriting and modeling. Sam’s Master of Science in Finance from Florida International University and experience in having underwritten more tha $600,000,000 of investment property enables the MSP team to handle an assignment of any size.

Sam Mekras

DIRECT:786-671-0154 MOBILE:786-417-3709

[email protected] EDUCATION

Florida International University

• Master Science of Finance, 2014 • BBA in Finance, 2013 MSP Group Deals

CLOSED Available—Largo, FL Available—Coral Gables, FL Available—Miami, FL Closed—Florida Portfolio

AUTUMN CHASE CONDOMINIUMS 1091 GALIANO LAND SHENANDOAH ARMS AVESTA PORTFOLIO 2200 Gladys Street 1091 Galiano Street 1876 SW 11th Terrace Multiple Locations, FL Largo, FL 33774 Coral Gables, FL 33134 Miami, FL 33135 Price: $81,363,000 Price: TBD by Market Price: $2,900,000 Price: $2,500,000 Units: 2,199 Units: 124 of 232 Buildable Units: 27 Units: 18 Price/Unit: $37,000 Price/Unit: TBD by Market Price/Buildable Unit: $107,407 Price/Unit: $138,889 Year Built: Various Year Built: 1975 Year Built: TBD Year Built: 1927/2007

CLOSED CLOSED CLOSED CLOSED Closed—Davie, FL Closed—Hialeah, FL Closed—Wilton Manors, FL Closed— Miami, FL

SUNSET PALMS HIALEAH PORTFOLIO PALM GARDENS NODEN 7400 Stirling Road, Davie, FL Hialeah, FL 2727 N Andrews Ave, Wilton Manors, FL 8951 NE 8th St & 800 NE 90th St Miami, FL

Price: $38,500,000 Price: $14,100,000 Price: $14,000,000 Price: $11,400,000 Units: 318 Units: 161 Units: 163 Units: 94 Price/Unit: $121,069 Price/Unit: $87,588 Price/Unit: $85,890 Price/Unit: $121,277 Year Built: 1975 Year Built: 1958-1968 Year Built: 1969 Year Built: 1968 & 1970 DEME MEKRAS ELLIOT SHAINBERG SAM MEKRAS DIRECT:786-671-0149 DIRECT:786-671-0151 DIRECT:786-671-0154 MOBILE:786-208-2684 MOBILE:917-992-6189 MOBILE:786-417-3709 [email protected] [email protected] [email protected] MSP Group Deals

CLOSED CLOSED CLOSED CLOSED Closed— Miami & North Miami Beach, FL Closed—Pompano Beach, FL Closed—Palm Springs, FL Closed—Miami,FL

GRAND ISLAND II & III WINDWARD LAKES SABAL POINTE CONDOS INTERMEX Miami & North Miami Beach, FL 3895 W McNab Rd, Pompano Beach, FL 251 Bonnie Blvd, Palm Springs, FL 9480 S Dixie Highway, Miami, FL Price: $11,000,000 Price: $9,600,000 Price: $8,190,000 Price: $7,474,000 Units: 110 Units: 104 Units: 117 SF: 25,420 Price/Unit: $100,000 Price/Unit: $92,308 Price/Unit: $70,000 Price/SF: $294 Year Built: 1959/69 Year Built: 1992 Year Built: 1973 Year Built: 1994

CLOSED CLOSED CLOSED CLOSED Closed—St Petersburg, FL Closed—Miami Gardens, FL Closed—Hialeah, FL Closed—Miami Springs, FL

SHADY OAKS MIAMI D JACLYN CONTINENTAL SPRINGS 5870 56th Ave. St Petersburg, FL 611 NW 177th St, Miami Gardens, FL 1315-1345 W 29th St, Hialeah, FL 801 S Royal Poinciana Blvd, Miami Springs, FL Price: $7,100,000 Price: $6,050,000 Price: $6,050,000 Price: $5,300,000 Units: 189 Units: 112 Units: 72 Units: 55 Price/Unit: $37,566 Price/Unit: $54,018 Price/Unit: $84,028 Price/Unit: $96,364 Year Built: 1972 & 1974 Year Built: 1972 Year Built: 1970 Year Built: 1966

DEME MEKRAS ELLIOT SHAINBERG SAM MEKRAS DIRECT:786-671-0149 DIRECT:786-671-0151 DIRECT:786-671-0154 MOBILE:786-208-2684 MOBILE:917-992-6189 MOBILE:786-417-3709 [email protected] [email protected] [email protected] MSP Group Deals

CLOSED CLOSED CLOSED CLOSED Closed—Miami Beach, FL Closed— Miami, FL Closed— Miami, FL Closed— Hialeah, FL

CONTINENTAL SPRINGS GALAXY SOUTHWOOD ALLEGRO 801 S Royal Poinciana Blvd, Miami Springs, FL 15005 NE 6th Avenue, Miami, FL 11050 SW 197th St, Miami, FL 1255 W Okeechobee Rd Hialeah, FL Price: $5,300,000 Price: $4,000,000 Price: $3,039,550 Price: $2,950,000 Units: 55 Units: 48 Units: 74 Units: 30 Price/Unit: $96,364 Price/Unit: $83,333 Price/Unit: $41,075 Price/Unit: $98,333 Year Built: 1966 Year Built: 1972 Year Built: 1966 Year Built: 1968

CLOSED CLOSED CLOSED CLOSED Closed—Hialeah, FL Closed—Hialeah, FL Closed—North Miami, FL Closed—Miami Beach, FL

MALAGA PARC CONDOS OMAX CONTINENTAL WEST DECO APARTMENTS 465 E 28th St, Hialeah, FL 465 E 28th St, Hialeah, FL 447 NE 125th St, North Miami, FL 1443 West Avenue, Miami Beach, FL Price: $2,700,000 Price: $2,430,000 Price: $2,393,000 Price: $2,182,500 Units: 18 Units: 24 Units: 36 Units: 10 Price/Unit: $150,000 Price/Unit: $101,250 Price/Unit: $66,472 Price/Unit: $218,250 Year Built: 2006 Year Built: 1959 Year Built: 1966 Year Built: 1936