27 UNIT LUXURY CONDOMINIUM INVESTMENT OPPORTUNITY

THE EDGE PAGE 1 27 UNIT LUXURY CONDOMINIUM INVESTMENT OPPORTUNITY KEY INVESTMENT HIGHLIGHTS

Newmark Knight Frank Multifamily has been exclusively engaged to market 27 (out of 307) units for-sale within The Edge - a best in class, high-rise condominium community located in the heart of Downtown West Palm Beach, Florida. The Edge represents a rare opportunity to purchase luxurious condominium rental units with spacious floor plans and modern architecture. The majority of the units are located on the upper floors providing stunning skyline views of Downtown West Palm Beach, the Intracoastal Waterway, Clear Lake and the Atlantic Ocean.

PREMIER CLASS "AAA" LUXURY EXCELLENT SURROUNDING RETAIL INCREDIBLE ACCESS TO MAJOR PRODUCT AND DESIGN AND QUALITY OF LIFE THOROUGHFARES • Spacious design and modern • 95 Walk Score • Brightline station - 1 mile East architecture - Higher than Downtown Miami 91 • Tri-Rail – 3 minutes East and Lincoln Park Chicago 94 • Resort level amenity package • U.S Highway 1 – 5 block East • Minutes to upscale retail • Incredible views of downtown • I-95 – 3 minutes West West Palm Beach, Clear Lake, the - Clematis Street Intercoastal and Atlantic Ocean - CityPlace • Palm Beach International – - The Royal Poinciana Plaza 12 minutes South UNIT FEATURES - Worth Avenue • Florida Turnpike – 15 minutes West • Stainless steel appliances - Antique Row – Art & Design District • Fort Lauderdale - Hollywood • In the Lifestyle Center of West International Airport – 1 hour South • Premium wood cabinetry Palm Beach • Double-bowl stainless steel - Warehouse District with nightlife, ACCESS TO EMPLOYMENT CENTERS undermount sink restaurants, boutique shops • West Palm Beach – 13.3M SF office • Tile back splash and fitness space (within immediate area) • Polished granite countertops - Norton Museum of Art - Kravis Center for the Performing • Palm Beach – 2.6M SF office • Porcelain tile Arts with 550 performances space (6 minutes southeast) • Designer carpet a year • North Palm Beach 8.6M SF office • Walk-in closets space (15 minutes north) DYNAMIC EMPLOYMENT MARKET • Recessed lighting • Boynton Beach – 2.8M SF office • 10,300 jobs added in the West space (15-20 minutes south) • Spacious pantry Palm Beach, Boca Raton, Delray • Royal Palm Beach/Wellington – • Full size washer and dryer Beach Metropolitan Division in 1.8M SF office space (25 minutes • Oversized soaking tub 2017 west) • 10-foot ceilings • 4.1% average annual job growth in • Jupiter – 3.6M SF office space the previous two years (2015-2017) • 10-foot sliding glass doors (25 minutes north) • 2.0% annual job growth projected • Private terrace • Boca Raton – 17.4M SF office between 2017 – 2020 (Moody’s space (25 minutes south) • Water and city views Analytics) • 2 parking spaces per unit • Approximately 40,000 jobs within • 2 fully furnished model units by 1 mile of the properties designer Steven G (units 805 & 1418) for a total cost of $185K

PAGE 2 PROPERTY DETAILS

UNIT MIX SUMMARY UNIT TYPE BY BEDROOM

Average Market Unit Unit # of % of Avg. Rent Per Type Name Units Total Unit SF* Month SF 1 BR 1 Bed/1 Bath B-1 2 7.4% 1,010 $1,916 $1.90 1 Bed/1 Bath F-1 2 7.4% 1,178 $1,800 $1.53 2 Bed/2 Bath D-1 5 18.5% 1,112 $1,870 $1.68 2 Bed/2 Bath D-2 3 11.1% 1,141 $2,033 $1.78 2 Bed/2 Bath E 1 3.7% 1,164 $2,100 $1.80 2 Bed/2 Bath (with Den) F 6 22.2% 1,178 $2,017 $1.71 2 Bed/2 Bath (with Den) G-1 3 11.1% 1,278 $2,050 $1.60 2 BR 2 Bed/2 Bath (with Den) G 3 11.1% 1,298 $2,097 $1.62 2 Bed/2 Bath G-2 2 7.4% 1,302 $2,100 $1.61 The Edge 27 100% 1,182 $1,990 $1.68 1 Bedroom 15% 2 Bedroom 85%

* Owner and Broker make no representation as to the actual square footage of any units. Prospective purchasers are encouraged to independently confirm the measurement of all units.

INVESTMENT DETAIL

Address 300 S Australian Avenue West Palm Beach, FL 33401

Year Construction 2007 Total Units 27 Average Unit SF 1,182 Avg. Market Rent Per Unit $1,990

Avg. Market Rent Per NSF $1.68 Occupancy* 95%

* Excluding two furnished and two unfurnished model units

THE EDGE PAGE 3 27 UNIT LUXURY CONDOMINIUM INVESTMENT OPPORTUNITY PROPERTY PHOTOS

PAGE 4 PROPERTY PHOTOS

THE EDGE PAGE 5 27 UNIT LUXURY CONDOMINIUM INVESTMENT OPPORTUNITY SALES COMPARABLES

Property Name Sales - 12 Months Avg. Sales Price Avg. Size Avg. Sale Price/SF Year Built Esplanade Grande 50 $1,321,759 2,576 $513 2004 The Strand 4 $403,250 1,035 $390 2002 City Place South Tower 12 $352,292 1,008 $349 2008 Two City Plaza 15 $509,767 1,470 $347 2008 City Palms 5 $237,600 767 $310 2008 One City Plaza 15 $342,767 1,216 $282 2006 The Whitney 1 $315,500 1,278 $247 2007 Prado 6 $274,667 1,118 $246 2006 City Place 16 $215,156 1,052 $204 2001 The Edge* 8 $182,750 871 $210 2007 Totals 132 $702,822 1,674 $420 * Current ownership recently sold 4 units through a retail sales program at an average price/SF of $263

1 Esplanade Grande 2 The Whitney 7 The Strand

Prado City Palms 5 8

Two City Plaza City Place 9 4 6 One City Plaza 3 City Place South Tower

PAGE 6 MAJOR EMPLOYMENT CENTERS

BOYNTON BEACH/ DELRAY BEACH BOCA RATON WEST PALM BEACH (15-20 MINUTES SOUTH) (25 MINUTES SOUTH)

13.3M SF 101,500+ 6.7M SF 73,000+ 17.5M SF 122,400+ of office space employees of office space employees of office space employees

8,773 8,592 11,264 businesses businesses businesses

• Phillips Point East & West – • The property is within twenty • Park at Broken Sound – 850 acres, 443,498 SF Class A office space minutes from 2 million SF of state-of-the-art research and with tenants including law firms, office/retail space along Boynton manufacturing hub. financial institutions, personal Beach Boulevard, one of the main • Boca Corporate Center and services and more. commercial corridors within the Campus – 1.8 million SF Class A • City Center – 300,000 SF of submarket. technological space on 532 acres government office space located • Quantum Corporate Park, located with 1.5 miles of frontage on I-95. on Clematis Street. 10 minutes northeast, 600-acre • Office Depot – global headquarters • CityPlace Tower – 295,933 SF multi-use business park that with more than 2,000 employees. Class A office space with tenants houses Publix Distribution Center including business services, law 1901, Allstate, Canada Dry and Major Employers others. firms and medical services. Boca Raton Regional Hospital (2,900 physicians and employees), FAU Major Employers Major Employers (2,655 employees), Office Depot Tenet Healthcare (6,100 employees Bethesda Memorial Hospital (3,250 (2,000+ employees), Boca Raton county wide), HCA (2,714 employees physicians and employees), Yurcor Resort & Club (1,292 employees), NCCI county wide), Veterans Health (HQ with 500 employees), BAMCO Headquarters (923 employees), ADT Headquarters (1,700 employees), Construction, Inc. (300 employees), Security Services (600 employees), Sikorsky Aircraft (1,181 employees), Meisner Electric, Inc. (215 employees), TMS Health Headquarters (560 Tyco Headquarters (850 employees), Hardrives, Inc. (134 employees). employees), US Foods (500 Pratt & Whitney (675 employees), employees) and many more. Aerojet Rocketdyne (400 employees).

THE EDGE PAGE 7 27 UNIT LUXURY CONDOMINIUM INVESTMENT OPPORTUNITY POINTS OF INTEREST - NORTH PALM BEACH COUNTY

SHOPPING 1 Worth Avenue 2 CityPlace 3 The Gardens Mall 4 Royal Poinciana Plaza 5 Palm Beach Outlets 1 2 6 PGA Commons 6 ENTERTAINMENT 1 Roger Dean Stadium 2 Clematis Street 1 3 3 The Breakers Hotel 6 4 Kravis Center 9 5 5 Norton Art Museum 2 PARKS/RECREATION 3 1 Country Club at Mirasol SINGER 2 Gardens Park 1 ISLAND 15 13 3 John D. MacArthur Beach State Park 14 4 Okeeheelee Park 3 12 5 Palm Beach Equestrian Center 8 8 6 Palm Beach National Golf Course 2 4 7 Bear Lakes Country Club 5 6 8 Banyan Cay Golf Club and Resort 7 9 9 PGA National Resort and Spa 4 1 7 2 3 10 Trump International Golf Club 4 11 Palm Beach Polo and Country Club 1 3 5 12 Mangonia Park 13 Wells Recreation Complex 14 Riviera Beach Marina 15 Barracuda Bay Aquatic Complex 5 10 2 4 11 EDUCATION/EMPLOYMENT CENTERS 95 1 Vista Center Corporate Park 2 Florida Atlantic University/ 6 Jupiter Campus 5 4 3 Palm Beach Atlantic University 7 4 Palm Beach College 5 PBAU, Wellington Campus 6 Scripps Research Institute 7 Northwood University 8 Quantum Corporate Park

8 HEALTH CARE 1 VA Medical Center 2 Wellington Regional Medical Center 3 Columbia Hospital 4 Palms West Hospital ATLANTIC 5 Palm Beach Gardens Medical Center OCEAN 6 Good Samaritan Medical Center 7 John F. Kennedy Medical Center 8 Saint Mary’s Hospital 9 Cleveland Clinic

PAGE 8 CONGRESS

LAKE WORTH RD

POINTS OF INTEREST - SOUTH PALM BEACH COUNTY

D

R

G

O J LANTANA RD SHOPPING 1 Town Center Mall at Boca Raton HYPOLUXO RD 2 Mizner Park TO THE NORTH 3 The Plaza at Delray Shopping Center 1 1 1 1 1 9 4 Delray Commons Shopping Center 5 Delray Crossing Shopping Center GATEWAY 6 Shops at Boca Center 4 7 Shoppes of Blue Lake 8 University Commons 9 Boynton Beach Mall BOYNTON BEACH BLVD 9

95 ENTERTAINMENT WOOLBRIGHT 5 1 Cinemark Palace 20 Movie Theater 2 Boca Raton Resort and Club 4 3 Boca Lago Golf Course 4 Downtown Delray Beach 5 Delray Marketplace CONGRESS

PARKS/RECREATION LAKE IDA ROAD 1 Patch Reef Park 2 Spanish River Park 4 3 South County Park 5 ATLANTIC AVENUE 4 Boynton Beach Inlet 5 Quail Ridge Country Club 3

LINTON RD 6 Quiet Waters Park L

3 I 5 4 7 Morikami Museum and 7 A

R Japanese Garden

T

D

Y

R

R G

A EDUCATION/EMPLOYMENT CENTERS

T

O

I

J L I 1 Florida Atlantic University

CLINT MOORE RD M 5 95 2 Lynn University 3 Palm Beach State College, YAMATO ROAD 6 CONGRESS 8 Boca Raton Campus 1 4 7 4 Boca Corporate Center & Campus 5 Office Depot Headquarters 2 6 ADT Headquarters 3 3 LYONS GLADES RD6 1 7 1800 Boca Center 1 1 7 8 2 8 Park at Broken Sound 1 2 9 Quantum Corporate Park 3 PALMETTO PARK RD 2 HEALTH CARE 95 CAMINO REAL 2 BOCA TH 1 West Boca Community Hospital RATON 18 STREETPALM BEACH CO. INLET 2 Boca Raton Regional Hospital 3 Delray Medical Center BROWARD CO. HILLSBORO BLVD 4 Bethesda Memorial Hospital 6 10TH STREET ATLANTIC SAWGRASS EXPRESSWAY OCEAN DR RD 441 TURNPIKE PAGE 9 POWERLINE RD

LYONS THE EDGE

SAMPLE RD MILITARY TRL 27 UNIT LUXURY CONDOMINIUM UNIVERSITY INVESTMENT OPPORTUNITY 817 ROYAL COPA NS RD PALM BLVD

Y

A

W

R

E

T CLEAR LAKE OKEECHOBEE BLVD.

CITY PLACE

FLAGLER MONTESSORI PRE-SCHOOL

HOLY TRINITY EPISCOPAL CHURCH CENTENNIAL PARK

S. FLAGLER DR

PAGE 10 CENTRAL DOWNTOWN LOCATION WITH TREMENDOUS ACCESSIBILITY

CLEMATIS ST

WEST PALM BEACH WEST PALM BEACH CITY HALL COURTHOUSE

CENTENNIAL PARK

MEYER CENTENNIAL AMPHITHEATRE SQUARE

FLAGLER PARK

THE EDGE PAGE 11 27 UNIT LUXURY CONDOMINIUM INVESTMENT OPPORTUNITY WEST PALM BEACH - TRANSPORTATION, CULTURE AND INVESTMENT

Brightline West Palm Beach Station

KEY TRANSPORTATION LINKS

BRIGHTLINE FLORIDA • 10 minute walk to station • Stops in Miami and Fort Lauderdale and will connect with Orlando by 2020 • 30 minutes to Fort Lauderdale station and 60 minutes to Miami station

TRI-RAIL • 5 minute drive from station • Provides rail transportation from Trolley Service West Palm Beach to Miami

TROLLEY • Within walking distance to Trolley stops • Free trolleys that allows easy access to all of downtown West Palm Beach (7 days a week)

TRI-RAIL

PAGE 12 Restoration Hardware

COMMUNITY HIGHLIGHTS

NORTON MUSEUM OF ART EXPANSION • $100M expansion project • Grand Opening February 2019 • 42,000 square foot West Wing • 12,000 square feet of galley space • 210 seat auditorium

RESTORATION HARDWARE • WPB newest iconic shopping destination • 80,000 square foot stand alone building Norton Museum with a roof top restaurant and home goods store featuring timeless luxury furniture and textiles in a gallery setting

KRAVIS CENTER FOR THE PERFORMING ARTS • World renowned professional performing arts center in Downtown WPB

HOTELS • The Breakers Hotel • Hilton West Palm Beach • Springhill Suites Downtown WPB • Canopy by Hilton Hotel Downtown WPB

BRISTOL CONDO • Penthouse sold for $40M • Prices range from $5M to $22M ($1,565-$5,320/sf)

Bristol Condo

THE EDGE PAGE 13 27 UNIT LUXURY CONDOMINIUM INVESTMENT OPPORTUNITY PROPERTY PHOTOS

PAGE 14 PROPERTY PHOTOS

THE EDGE PAGE 15 27 UNIT LUXURY CONDOMINIUM INVESTMENT OPPORTUNITY CONTACT INFORMATION – FLORIDA MIDDLE MARKET TEAM

Tyler Minix Ryan Moody [email protected] [email protected] M 239-281-1895 M 407-474-2900 Jonathan Senn John Rutherford [email protected] [email protected] M 305-720-6059 M 904-228-0944 OTHER CONTACT Hampton Beebe [email protected] M 305-720-6059

South Florida Office Central Florida Office Debt & Structured Finance 750 Park of Commerce Blvd. 400 Park Avenue South Kyle Schlitt Suite 230 Suite 220 [email protected] Boca Raton, FL 33487 Winter Park, FL 32789 M 407-222-0788 T 561-988-8800 T 321-316-3030

PAGE 16 INFORMATION FOR EDGE WEST PALM IS AVAILABLE ON OUR WEBSITE HTTP://ARAUSA.LISTINGLAB.COM/EDGEWESTPALM