OFFERING MEMORANDUM , FL 33131 235 SE 1st Street themiamiplaza.com

AZA LA THEP THE P LA ZA THE P LA ZA 235 SE 1st Street THE OFFERING Miami, FL 33131

he Plaza is a 81,000 SF office building Ton a 20,000 SF corner lot located in the heart of Downtown Miami and its most

prominent corner. The site benefits from the

most liberal mixed-use zoning in all of South

Florida, T6-80-O, allowing up to 489,600 SF

of development and 470 residential units. The

Plaza is an amazing add value office building

with tremendous future uses for development.

Developers will benefit from the ability to

receive temporary cash flow while waiting on

the next cycle or plan approval.

THE CORNER OF DOWNTOWN MIAMI THE P LA ZA

PROPERTY SUMMARY + +

Address: Lot Size: Building Size: Zoning: FLR Allowable FLR Allowable +Bonus Building Height: Building Height +Bonus: Allowable Units: Folio: 235 SE 1st St. 20,400/ 81,382 SF T6-80-O 489,600 SF Unlimited 80 Unlimited 470 01-0112-000-1020 Miami, FL 33131 0.47 Acres

6 7 FOUR SEASONS

BRICKELL CITY INVESTMENT CENTRE ICON HIGHLIGHTS SOUTHEAST FINANCIAL CENTER WELLS FARGO CENTER

MIAMI TOWER

ASTON MARTIN JAMES L. KNIGHT RESIDENCES CENTER

MET SQUARE CINEPLEX WHOLE FOODS CENTRO

Covered Land with In-Place Income

he Plaza is a prime opportunity to repurpose or add value to an existing Tclass C office building located in Downtown’s most highly trafficked corridor. The property is positioned to capture an already active-large

tenant base with over 175,000 employees existing within Downtown’s LA EPOCA

Central Business District. The site also has tremendous development SE 3rd Ave upside to construct a highly dense structure of up to 80 stories while receiving temporary cash flow throughout the plan approval process.

THE P LA ZA

8 9 INVESTMENT HIGHLIGHTS

Strong Multifamily Absorption Rates The number of full time residents has surged as young professionals and families move in to the newly built towers. The current condominium projects in Downtown offer pricing across the pricing spectrum, from well below $500,000 to over $6 Million, the average unit pricing at 1000 Museum. This reflects a maturing downtown that is attracting a wide range of buyer profiles. Downtown Miami remains a bargain compared with Miami Beach, and has pricing that is in line with Coral Gables and Aventura. Renter demand continues to grow as new households are formed through population growth, urban migration, and millennials transitioning from living at home as new urban options emerge. Rental volume increased almost 20% compared to 2016, with 325 per month in 2017. Demand for living in Downtown Miami is at an all time high with residential projects such as Yotel selling 95% of units before breaking ground, Paramount selling 90% of its units before completion and XMiami leasing 40% of units before opening.

Extensive Neighborhood Growth Development opportunities in Downtown Miami continues to shrink as the current wave of development continues. The billions of dollars invested in major infrastructure projects will continue to catapult Miami into global relevance. The daytime population swells to over 250,000 thanks to the high concentration of commercial office space, government and judicial centers, retail districts and the largest community college in the country. New services and developments continue to pour into downtown Miami to meet the needs of the shifting demographics.

“THE NEW GLOBAL CITY” THE P LA ZA - The Wallstreet Journal

10 11 DEVELOPMENT See page 32 for development scenarios POTENTIAL DENSITY The maximum density is 1000 units per acre. 0.47 x 1000 = 470 units

Miami 21, adopted May 20, 2010, represents a significant departure from the previous zoning regulations. Since INTENSITY Miami 21 incorporates form-based principles, some of the changes are directed towards the design and form Intensity is governed by Floor Lot Ratio, “FLR”, and is based on the next lot area of the structures, rather than their uses or general intensities. Such changes include requirements for orientation, property. This property has an FLR coefficient of 24. design, fenestration, pedestrian openings, etc. The T6-60a zoning of the Property would permit several uses The formula is as follows: as of right, including residential, hotel, office and retail. Net Lot Area x FLR coefficient + Public Benefit Bonus= Building area permitted. Provided below is the calculation of what’s permitted on the property:

PUBLIC BENEFIT ZONING FLR COEFFICIENT BASE SF PARKING BONUS Miami 21 permits shared parking for developments with mixed uses. Residential parking T6-80-O 24 489,600 Unlimited is not required for T6-80-O sites that are within 1,000 feet of a or Metrorail station. Lodging uses require one parking space for every two lodging units and one additional visitor space for every fifteen lodging units. Office and commercial uses require three parking spaces for every 1,000 square feet of office.

The commercial parking requirement is 3 spaces per 1,000 SF of office or retail. In the designated central core areas, there is no parking requirement for residential and mixed- use projects meaning these types of projects are able to provide no residential parking and can provide off site- commercial parking by leasing parking spaces within 1,000 feet of the parcel. There are additional parking waivers for the subject site as it is located within a Transit Oriented Corridor.

HEIGHT The maximum height permitted is 80 stories with unlimited height available through public benefit bonuses.

SETBACKS The principle and secondary frontages require a 10 ft setback for the first 8 stories and a 20 ft minimum above the 8th story. The side and rear frontage require 0’ setback for the first 8 stories and a 30 ft minimum above 8 stories.

LOT COVERAGE The first 8 stories allow up to 80% lot coverage, above 8th story allows for a maximum of 18,000 SF floorplate for residential and lodging uses and 30,000 SF floorplate for office and commercial uses.

12 13 MARKET DRIVERS

THE P LA ZA

SKYRISE MIAMI 1,000-foot entertainment and observation tower designed by Arquitonica ONE BAYFRONT PLAZA 902 apartments, 200 hotel rooms, 532,000 square feet of office space, 103,959 square feet of retail, and over 1,000 parking spaces.

WALDORF ASTORIA YOTEL The Waldorf will rise 98 stories with 231 condos and 222 hotel rooms 140 hotel rooms and 400 condos. It in 31 stories) “95% pre sold before will be the tallest residential tower breaking ground” south of New York.

14 15 MARKET DRIVERS

LA EPOCA

50,000 SF historic walgreens building - already fully leased by restaurants and breweries, will be a culinary and entertainment complex for all locals and tourists.

FLAGLER STREET REVITALIZATION

Flagler beautification project- Miami commissioners have approved the funding to widen sidewalks with café seating, add a centralized parking center and create a “curbless” streetscape, among other improvements.

16 17 SE 1ST STREET

SE 1st Street is a tree-line promenade with many of the last remaining historical buildings in Miami. It stretches all the way east to and . Through the most recent years, there’s been a profuse organic growth of European cafes, restaurant and shopping.

THE P LA ZA

Downtown Miami’s Lower Eastside

18 19 OFFICE LEASE COMPS

NEW WORLD WELLS FARGO THE TOWER P LA ZA CENTER 333 SE 2nd Avenue 100 N Biscayne Blvd Miami, FL

Class B - Office Class A - Office

Rent: $38-$42 Rent: $48 Full Service Full Service Lease Comp: $43-$48 Lease Comp: $34-$40 Full Service

CITIGROUP DUPONT CENTER 169 E Flagler Street 201 S Biscayne Blvd Miami, FL Miami, FL

Class B - Office Class A - Office

Rent: $29-$35 Rent: $46-$50 Full Service + electric Lease Comp: $29-$35 Lease Comp: $43-$60 Full Service + electric SE 1st Avenue

COURTHOUSE ONE FLAGLER TOWER 14 NE 1st Avenue 44 W Flagler Street Miami, FL Miami, FL

Class B - Office Flagler Street Class B - Office

Rent: $19.2-$35 Rent: $25-$31 MG Full Service Lease Comp: Lease Comp: $23.5-$39.68 MG $30-$32 Full Service

20 21 OFFICE & RETAIL SALE COMPS

JUAN VALDEZ 101 NE 2nd Avenue THE P LA ZA 133 E Flagler Street Retail/Office Retail

Bldg Size: 9,539 SF Bldg Size: 7,784 SF

Lot Size: 5,245 SF Lot Size: 7,000 SF

Price: $3,600,000 Price: $5,300,000

$377 PSF Bldg $681 PSF Bldg

$686 PSF Land $757 PSF Land

THE WHITE LA EPOCA BUILDING 201 E Flagler Street SE 1st Avenue 200 E Flagler Street

Retail/Office Retail

Bldg Size: 29,042 SF Bldg Size: 49,000 SF

Lot Size: 14,000 SF Lot Size: 9,120 SF Flagler Street Price: $12,900,000 Price: $19,500,000

$444 PSF Bldg $398 PSF Bldg

$921 PSF Land $2,138 PSF Land

22 23 RETAIL LEASE COMPS

MUZE

300 SE 3rd Avenue Miami, FL

Tenant: Silverspot Cinemas THE P LA ZA 3 Floors

4,800 SF CITIGROUP CENTER Rate: $85 PSF 201 S Biscayne Blvd Miami, FL

Tenant: Tenant:

Suite: 19th Floor Suite: 11th Floor

2,405 SF 1,150 SF Biscayne Blvd

Rate: $50 PSF Rate: $50 PSF

CENTRO MARINA BLUE

151 SE 1st Street 888 Biscayne Blvd Miami, FL Miami, FL

Tenant: Crazy Poke Tenant: Bellamia Tenant: Tenant:

Suite: 1st Floor Suite: 1st Floor Suite: 1st Floor CU

1,200 SF 1,000 SF 600 SF 600 SF

Rate: $80 PSF Rate: $85 PSF Rate: $65 PSF Rate: $65 PSF

24 25 APT. RENTAL COMPS Studio Avg SF: 670 Avg Rent: $2,278 Avg Rent/PSF: $3.40

1 Bedroom Avg SF: 697 THE P LA ZA Avg Rent: $2,117 Avg Rent/PSF: $3.04

2 Bedroom Avg SF: 1,049 Avg Rent: $2,771 Avg Rent/PSF: $2.64

3 Bedroom Studio MONARC AT MET Avg SF: 1,452 Avg SF: 519 201 SE 2nd Avenue Avg Rent: $3,758 Avg Rent: $1,829 Miami, FL Avg Rent/PSF: $2.59 Avg Rent/PSF: $3.52 Biscayne Blvd 1 Bedroom Avg SF: 832 Avg Rent: $2,509 Avg Rent/PSF: $3.02 Studio Avg SF: 512 2 Bedroom Avg Rent: $1,845 Avg SF: 1,259 Avg Rent/PSF: $3.60 Avg Rent: $3,135 Avg Rent/PSF: $2.49 1 Bedroom Avg SF: 621 MUZE AT Bedroom Avg Rent: $2,524 Avg SF: 1,410 Avg Rent/PSF: $4.08 340 SE 3rd Street Avg Rent: $3,911 Miami, FL Avg Rent/PSF: $2.77 X MIAMI 2 Bedroom Avg SF: 962 230 NE 4th Street Avg Rent: $2,905 Miami, FL Avg Rent/PSF: $3.02 40% leased before opening

26 27 APT. CONDO COMPS

THE P LA ZA

Studio Avg SF: 531 Avg Price: $356,000 Avg Price/PSF: $671

1 Bedroom Avg SF: 618 Avg Price: $401,200 Avg Price/PSF: $673

YOTEL 2 Bedroom 1 Bedroom Avg SF: 754 235 NE 2nd Street Avg SF: 708 Miami, FL Avg Price: $433,000 Avg Price: $961,900 SOLD OUT before Avg Price/PSF: $612 Avg Price/PSF: $1,276 breaking ground 2 Bedroom Avg SF: 1,836 NE 5th St Avg Price: $1,965,100 Avg Price/PSF: $1,103

1000 MUSEUM 3 Bedroom Avg SF: 2,625 1000 Biscayne Blvd Avg Price: $2,448,343 Miami, FL Avg Price/PSF: $921 4 Bedroom Avg SF: 4,780 4 Bedroom Avg Price: $6,530,909 Avg SF: 3,655 Avg Price/PSF: $1,366 Avg Price: $3,763,900 Avg Price/PSF: $1,023 5 Bedroom N Miami Avenue ASTON MARTIN Avg SF: 10,361 5 Bedroom Avg Price: $23,425,000 RESIDENCES Avg SF: 3,978 Avg Price/PSF: $2,262 300 Biscayne Blvd Way Avg Price: $5,312,900 Unit prices range from Miami, FL Avg Price/PSF: $1,336 $6M to over $25M

28 29 owntown Miami is growing fast, becoming younger, wealthier and more educated. In 2018, more than 92,200 people called home, up nearly 40 Dpercent since 2010, and expected to exceed 109,000 by the year 2021. The median household income is also increasing, up 55 percent since 2010. A significant chunk of these residents are young professionals with disposable income. They seek an urban core lifestyle, choosing to live downtown over the beaches or Brickell. New services and development are pouring into downtown Miami to meet the needs of the shifting demographics.

Since 2010 the population The majority of the 53% of the population are >> Residents spent $656.3 >> Median household Income in Greater of Downtwon Miami has population within the between 20 and 44 years million on all retail in 2016. income for 2016: $91,989 Downtown Miami increased by more than neighborhood are highly old. significally exceeds that of 30% and is pr ojected educated, young working >> Workers and visitors >> Average household the City of Miami. to increase an additional professionals. spent $1.7 billion in 2016. income for 2016: $111,305 20% by 2021.

“Younger Employees, which are the fastest growing segment of the U.S. workforce, prefer urban neighborhoods and easy THE P LA ZA access to alternate transportation” - The Miami Herald

30 31 MAXIMUM BUILDING ENVELOPE EXAMPLE DEVELOPMENT SCENARIO - 1

Zoning & Feasibility - 235 SE 1st Street, Miami, Zoning & FeasibilityView - 235North SE West 1st Street, Miami, Florida

T6-80 O Summary T6-80 O Scenario Calculations

Gross Lot Area: 20,400 SF This diagrammatic massing model shows the Maximum Gross Lot Area: 20,400 SF Sixty-Ninth Level: 9,500 SF Net Lot Area: 19,975 Building Envelope of the property with existing T6- Net Lot Area: 19,975 // // Lot Coverage 80%: = 15,980 SF 80 Zoning. This diagram is a tool used to visualize the Lot Coverage 80%: = 15,980 SF Eleventh Level: 9,500 SF Lot Coverage 88%: 17,578 SF maximum extent of each potential floor plate within Lot Coverage 88%: 17,578 SF Tenth Level: 9,500 SF Floor Lot Ratio: 24 / 50% = 479,400+ 239,700 SF setback allowances, from which the design can fill within. Floor Lot Ratio: 24 / 50% = 479,400+ 239,700 SF Ninth Level: 4,225 SF Total FLR: =719,100 SF There is a 2.5’ dedication along the south side of the Total FLR: =719,100 SF Eighth Level: 17,200 SF property. The Frontage Setback above the eighth floor is // // Density 1,000 D/U 458 resi. or 917 hospitality not required for the Primary Frontage on SE 1st Street due Density 1,000 D/U 458 resi. or 917 hospitality Ground Level: 17,200 SF Levels 11-69 Tower to the seventy foot right-of-way. T6-80 Zoning allows for up View North West 8,150 SF Leasable/Sellable Building Setback to 80 stories by right, with an additional maximum benefit Building Setback Gross SF: 711,825 SF 1,350 SF BOH and Circulation Principal Front: 10 ft. min; 10 ft. min above 8th height being unlimited levels above that. The FAA currently Principal Front: 10 ft. min; 10 ft. min above 8th Net Leasable: 484,850 SF Secondary Frontage: 10 ft. min; 20 ft. min above 8th caps buildings in Downtown Miami at 1,049 feet above sea Secondary Frontage: 10 ft. min; 20 ft. min above 8th Total Units: 458 Level 10 - Amenities Side: 0 ft. min; 30 ft. min above 8th level, and the most floors in a proposed tower in the area is Side: 0 ft. min; 30 ft. min above 8th Average Unit: 1,050 SF 8,150 SF Interior Amenity Rear: 0 ft. min; 30 ft. min above 8th 98, so we have matched that in this example. This scenario Rear: 0 ft. min; 30 ft. min above 8th Total Commercial: 4,000 SF 1,350 SF BOH and Circulation shown is more than double the allowable SF allowed for the Parking Provided: 305 Spaces Scenario Calculations site, meaning the project would need to be scaled down Parking Required: 11 Level 9 - Amenities significantly from the Maximum Building Envelope Diagram Summary 2,875 SF Interior Amenity Ninety-eighth Level: 16,125 SF shown here. 12,575 SF Exterior Deck // // This diagrammatic highest and best use scenario model creates 59 levels of multi-family residences that average 1,050 1,350 SF BOH and Circulation Ninth Level: 16,125 SF SF, there will be two floor plan types that shift part way up the tower. The ground floor will be occupied by a residential Eighth Level: 17,200 SF lobby, 4,000 SF of commercial space, a speed ramp to the second level parking garage, and Back of House services. Levels 2-8 - Parking // // Parking is not required for this tower as it is within 1,000’ of a Metromover station, however, it is shown here with seven 15,600 SF Garage - 42 spaces Ground Level: 17,200 SF levels of parking with 42 spaces per level, 18 of which are tandem per level, for a total of 294 spaces. Two Amenity 1,600 SF- BOH and Circulation levels are located above the Podium. Total Envelope Shown: 1,588,850 SF Level 1 - Lobby, Retail, BOH 2,800 SF Lobby View South East View South West View North East View South East View South West View North East 4,000 SF Commercial 2,300 SF Garage Ramp 8,100 SF BOH and Circulation

32 33 Maximum Building Envelope Example DiagramHighest Model and 1Best Use Diagram - Large Residential Units & CommercialPage 25 Diagram Model 2 Page 27 DEVELOPMENT SCENARIO - 2 DEVELOPMENT SCENARIO - 3

Zoning & Feasibility - 235 SE 1st Street, Miami, Florida Zoning & Feasibility - 235 SE 1st Street, Miami, Florida

T6-80 O Scenario Calculations T6-80 O Summary Levels 25-70 Residences 8,150 SF Leasable/Sellable Gross Lot Area: 20,400 SF Fifty-Sixth Level: 9,500 SF Gross Lot Area: 20,400 SF This mixed-use scenario includes commercial, office and 1,350 SF BOH and Circulation Net Lot Area: 19,975 // // Net Lot Area: 19,975 residential. Two levels of amenity space are located above Lot Coverage 80%: = 15,980 SF Eleventh Level: 9,500 SF Lot Coverage 80%: = 15,980 SF the garage podium. Then there are thirteen repeating 14’ Level 24 - Amenity Lot Coverage 88%: 17,578 SF Tenth Level: 9,500 SF Lot Coverage 88%: 17,578 SF tall floor plates of office. On Level 25 is a unique amenity 4,650 SF Interior Amenity Floor Lot Ratio: 24 / 50% = 479,400+ 239,700 SF Ninth Level: 4,225 SF Floor Lot Ratio: 24 / 50% = 479,400+ 239,700 SF space which can be a commercial space, or a private 3,500 SF Exterior Deck Eighth Level: 17,200 SF Total FLR: =719,100 SF Total FLR: =719,100 SF amenity for the offices or residences. Then 46 levels of View North West 1,350 SF BOH and Circulation // // multi-family residences which are designed to market rate Density 1,000 D/U 458 resi. or 917 hospitality Ground Level: 17,200 SF Density 1,000 D/U 458 resi. or 917 hospitality floor plan sizes. Each levelLevels has 11-56 two Tower480 SF studios, four 720 Levels 11-23 Office SF one bedroom units,8,150 and SF four Leasable/Sellable 1,080 SF two bedroom 7,300 SF Leasable/Sellable Building Setback Gross SF: 588,325 SF Building Setback units, a total of ten units1,350 per SF BOHlevel. and The Circulation ground floor will 2,200 SF BOH and Circulation Principal Front: 10 ft. min; 10 ft. min above 8th Net Leasable: 378,900 SF Principal Front: 10 ft. min; 10 ft. min above 8th be occupied by a residential lobby, 3,000 SF of commercial Secondary Frontage: 10 ft. min; 20 ft. min above 8th Total Units: 458 Secondary Frontage: 10 ft. min; 20 ft. min above 8th space, a speed ramp Level to the 10 second - Amenities level parking garage, Level 10 - Amenities Side: 0 ft. min; 30 ft. min above 8th Average Unit: 818 SF Side: 0 ft. min; 30 ft. min above 8th and Back of House services.8,150 SFParking Interior is notAmenity required for this 7,750 SF Interior Amenity Rear: 0 ft. min; 30 ft. min above 8th Total Commercial: 4,000 SF Rear: 0 ft. min; 30 ft. min above 8th tower as it is within 1,000’1,350 of SF a BOHMetromover and Circulation station. Office 1,750 SF BOH and Circulation Parking Provided: 305 Spaces and commercial requires 3 spaces per 1,000 SF, however Parking Required: 11 View North West we have applied a 30%Level reduction. 9 - Amenities The scenario is shown Level 9 - Amenities Summary with seven levels of parking2,875 SFwith Interior 38 spaces Amenity per level, 18 of 2,475 SF Interior Amenity which are tandem per12,575 level, forSF Exteriora total of Deck 266 spaces. Two 12,575 SF Exterior Deck This diagrammatic highest and best use scenario model creates 46 levels of multi-family residences which are sized Amenity levels sit above1,350 the SFPodium. BOH and Circulation 1,750 SF BOH and Circulation more to market rate floor plan sizes. Each level has two 480 SF studios, four 720 SF one bedroom units, and four 1,080 SF two bedroom units, for a total of ten units per level. The ground floor will be occupied by a residential lobby, 4,000 Levels 2-8 - Parking Levels 2-8 - Parking SF of commercial space, a speed ramp to the second level parking garage, and Back of House services. Parking is not 15,600 SF Garage - 42 spaces 15,200 SF Garage - 42 spaces 1,600 SF- BOH and Circulation required for this tower as it is within 1,000’ of a Metromover station, however, it is shown here with seven levels of Scenario Calculations 2,000 SF- BOH and Circulation parking with 42 spaces per level, 18 of which are tandem per level, for a total of 294 spaces. Two Amenity levels sit View South East View South West Level 1 - Lobby, Retail, BOH Level 1 - Lobby, Retail, BOH above the Podium. Seventieth Level: 9,500 SF 2,800 SF Lobby 3,800 SF Lobby // // View South East View South West 4,000 SF Commercial 3,000 SF Commercial View North East Twenty-Fifth Level: 9,500 SF 2,300 SF Garage Ramp 2,300 SF Garage Ramp Twenty-Fourth Level: 6,000 SF 8,100 SF BOH and Circulation 8,100 SF BOH and Circulation Twenty-Third Level: 9,500 SF // // Eleventh Level: 9,500 SF Tenth Level: 9,500 SF Ninth Level: 4,225 SF Eighth Level: 17,200 SF // // Ground Level: 17,200 SF

Gross SF: 717,825 SF Net Leasable: 472,800 SF Total Units: 458 Average Unit: 818 SF Total Commercial: 4,000 SF Total Office: 94,900 SF Parking Provided: 266 Spaces Parking Required: 208

34 35 Highest and Best Use Diagram - Market Rate Residential Units & Commercial DiagramHighest Model and 3 Best Use Diagram - Office, Market Rate Residential Page& Commercial 29 Diagram Model 4 Page 31 DEVELOPMENT SCENARIO - 4 DEVELOPMENT SCENARIO - 5

Zoning & Feasibility - 235 SE 1st Street, Miami, Florida Zoning & Feasibility - 235 SE 1st Street, Miami, Florida

T6-80 O Summary T6-80 O Summary Levels 24-59 Residences 8,150 SF Leasable/Sellable Gross Lot Area: 20,400 SF This mixed-use scenario includes commercial, office and Gross Lot Area: 20,400 SF This mixed-use scenario1,350 SF includes BOH and commercial, Circulation office, Net Lot Area: 19,975 residential. Two levels of amenity space are located above Net Lot Area: 19,975 hotel and residential. Two levels of amenity space for the Lot Coverage 80%: = 15,980 SF the garage podium. Then there are twelve hotel levels Lot Coverage 80%: = 15,980 SF residences are locatedLevel above 23 - Amenitythe garage podium. Then Levels 36-71 Residences Lot Coverage 88%: 17,578 SF with 17 keys each, for a total of 204 keys. On Level 23 are Lot Coverage 88%: 17,578 SF there are 11 levels of2,875 office SF Interior with 14’ Amenity ceiling, then twelve 8,150 SF Leasable/Sellable Floor Lot Ratio: 24 / 50% = 479,400+ 239,700 SF the hotel amenity spaces. Then 36 levels of multi-family Floor Lot Ratio: 24 / 50% = 479,400+ 239,700 SF hotel levels with 175,275 keys SF each, Exterior for aDeck total of 204 keys. 1,350 SF BOH and Circulation Total FLR: =719,100 SF residences which are sized more to market rate floor plan Total FLR: =719,100 SF There are two additional1,350 SFamenity BOH and spaces Circulation on level 22 and View North West sizes. Each level has two 480 SF studios, are four 720 SF one 35, one of which should be for hotel, and the other for Level 35 - Amenity Density 1,000 D/U 458 resi. or 917 hospitality bedroom units, and four 1,080 SF two bedroom units, a Density 1,000 D/U 458 resi. or 917 hospitality either residential, Levels office, 11-22 or Hotel commercial space. Parking 1,875 SF Interior Amenity total of en units per level. The ground floor will be occupied is not required for the7,000 residential SF Leasable/Sellable portion as it is within 5,275 SF Exterior Deck Building Setback by a residential lobby, 3,000 SF of commercial space, a Building Setback 1,000’ of a Metromover2,500 SF station. BOH and The Circulation hotel, office, and 1,750 SF BOH and Circulation Principal Front: 10 ft. min; 10 ft. min above 8th speed ramp to the second level parking garage, and Back of Principal Front: 10 ft. min; 10 ft. min above 8th commercial spaces will require 359 spaces, which can Secondary Frontage: 10 ft. min; 20 ft. min above 8th House services. Parking is not required for the residential Secondary Frontage: 10 ft. min; 20 ft. min above 8th be reduced by 30%Level or 50%. 10 -In Amenities this scenario it is shown Levels 23-34 Hotel Side: 0 ft. min; 30 ft. min above 8th portion as it is within 1,000’ of a Metromover station. The with seven levels of7`,750 parking SF with Interior 38 spacesAmenity per level, 18 7,000 SF Leasable/Sellable Side: View North 0West ft. min; 30 ft. min above 8th Rear: 0 ft. min; 30 ft. min above 8th hotel and commercial spaces will require 118 spaces, which Rear: 0 ft. min; 30 ft. min above 8th of which are tandem1,750 per level,SF BOH for and a total Circulation of 266 spaces, 2,500 SF BOH and Circulation can be reduced by 30% or 50%. In this scenario it is shown so the 30% parking reduction waiver would be applied, Level 9 - Amenities with seven levels of parking with 38 spaces per level, 18 of Scenario Calculations requiring a total of 252 spaces. Level 22 - Amenity which are tandem per level, for a total of 266 spaces. 2,475 SF Interior Amenity 1,875 SF Interior Amenity Seventy-First Level: 9,500 SF 12,575 SF Exterior Deck 1,750 SF BOH and Circulation 5,275 SF Exterior Deck // // 1,350 SF BOH and Circulation Thirty-Sixth Level: 9,500 SF Levels 2-8 - Parking Thirty-Fifth Level: 3,625 SF 15,200 SF Garage - 38 spaces Levels 11-21 Office View South West Scenario Calculations Thirty-Fourth Level: 9,500 SF View South East 2,000 SF- BOH and Circulation 7,000 SF Leasable/Sellable // // 2,500 SF BOH and Circulation View South East View South West Fifty-Ninth Level: 9,500 SF Twenty-Third Level: 9,500 SF Level 1 - Lobby, Retail, BOH // // Twenty-Second Level: 3,625 SF 3,800 SF Lobby Level 10 - Amenities Twenty-Fourth Level: 9,500 SF Twenty-First Level: 9,500 SF 3,000 SF Commercial 7,750 SF Interior Amenity Twenty-Third Level: 4,225 SF // // 2,300 SF Garage Ramp 1,750 SF BOH and Circulation Twenty-Second Level: 9,500 SF Eleventh Level: 9,500 SF 8,100 SF BOH and Circulation Level 9 - Amenities // // Tenth Level: 9,500 SF 2,475 SF Interior Amenity Eleventh Level: 9,500 SF Ninth Level: 4,225 SF 12,575 SF Exterior Deck Tenth Level: 9,500 SF Eighth Level: 17,200 SF 1,750 SF BOH and Circulation Ninth Level: 4,225 SF // // Eighth Level: 17,200 SF Ground Level: 17,200 SF Levels 2-8 - Parking // // 15,200 SF Garage - 42 spaces Ground Level: 17,200 SF Gross SF: 718,675 SF 2,000 SF- BOH and Circulation Net Leasable: 456,400 SF Gross SF: 611,550 SF Total Units: 356 Level 1 - Lobby, Retail, BOH Net Leasable: 380,400 SF Average Unit: 818 SF 4,800 SF Lobby Total Units: 356 Total Hotel: 84,000 SF 2,000 SF Commercial Average Unit: 818 SF Total Hotel Keys: 204 2,300 SF Garage Ramp Total Commercial: 4,000 SF Total Office: 77,000 SF 8,100 SF BOH and Circulation Total Hotel: 84,000 SF Total Commercial: 4,000 SF Total Hotel Keys: 204 Parking Provided: 266 Spaces Parking Provided: 266 Spaces Parking Required: 252 Parking Required: 118

36 37 Highest and Best Use Diagram - Hotel, Market Rate Residential & Commercial DiagramHighest Model and 5 Best Use Diagram - Hotel,, Office, Residential & CommercialPage 33 Diagram Model 6 Page 35 Confidentiality & Disclaimer Statement

Intended solely for your own limited use to determine whether you wish to express any further interest in the Property. This confidential memorandum contains brief, selected information pertaining to the business and affairs of the Property and has been prepared by Colliers International South Florida, LLC, primarily from information supplied by the Owner. Although this confidential memorandum has been reviewed by representatives of the Owner, it does not propose to be all-inclusive, nor does it contain all the information which a prospective purchaser may require or desire. Neither the Owner, nor any of its officers, directors, employees or agents, nor Colliers International South Florida, LLC, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents, and no legal liability is assumed or is to be implied by any of the aforementioned with respect thereto. Prospective offers are advised to verify the information independently. The Owner reserves the right to change the price or any information in this Memorandum, or to withdraw the Property from the market at any time, without notice. This confidential memorandum shall not be deemed an indication of the state of affairs of the Property or the Owner, nor shall it constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this memorandum. By your receipt of this confidential memorandum, you agree that the information contained herein is of a confidential nature and you will not disclose this memorandum or any part of the contents to any other person, firm or entity without prior authorization from Colliers International South Florida, LLC.

THE P LA ZA

Contact Information

MIKA MATTINGLY CECILIA ESTEVEZ Executive Managing Director Senior Associate 786 486 4391 786 942 4503 [email protected] [email protected] THE P LA ZA themiamiplaza.com

Contact Information

MIKA MATTINGLY CECILIA ESTEVEZ Executive Managing Director Senior Associate 786 486 4391 786 942 4503 [email protected] [email protected]