FULLY ENTITLED COVERED LAND PLAY IN HEART OF BAYFRONT DOWNTOWN TOWERS

OFFERING MEMORANDUM 255 NE 1ST STREET, DOWNTOWN MIAMI, FL DOWNTOWN MIAMI [email protected] +1 7864864391 Executive ManagingDirector MIKA MATTINGLY [email protected] +1 7733434695 Director BRADLEY ARENDT [email protected] +1 3056025020 Associate CECILIA ESTEVEZ BAYFRONT TOWERS BAYFRONT TOWERS 30 36 18 18 6 4 MARKET MARKET MARKET INVESTMENT APPROVED THE TABLE OFCONTENTS OFFERING COMPARABLES OVERVIEW DRIVERS PROJECT HIGHLIGHTS

<<< THE OFFERING

olliers International Urban Core Division is pleased to offer the opportunity to acquire Bayfront Towers, an approved Cmulti-phase plan to develop two towers encompassing over 800 apartment units and 120 hotel keys. The existing structure is currently a parking garage generating significant income from monthly parking passes and transient income. Developers will have the ability to benefit from the substantial cash flow while planning for future development.

Downtown is emerging as the next trendy neighborhood. It is the hole in the doughnut, poised to be the next investment darling in Miami, with billions of dollars being spent on major infrastructure projects. Development opportunities in Downtown Miami continue to shrink as the current wave of growth expands.

EXISTING GARAGE

255 NE 1st Street Address: Miami, FL 33130

Building Size: 257,712 SF

Lot Size: 37,500 SF

Zoning: T6-80-O

Parking Spaces: 863

Levels: 7

NOI 2019: $1.1M

4 5 6 B ENTITLED perfectly located togetanywhere quickly. multiple forms of publictransportation. Bayfront Towers sits offices, alongwiththe convenience ofbeingsurrounded by district, provides walkableaccess toshops,restaurants, and the geographiccenter of thedowntowncentral business 120 hotel keys and 7,205 SF of retail. It’s location, in project featuring avibrantmixof 800apartment units, ayfront Towers isaunique,mixed-use development DEVELOPMENT PROJECT PHASE 1 NORTH TOWER UNITS: RETAIL: SELLABLE: GROSS: STORIES:: BAYFRONT TOWERS 417 7,205 SF 272,846 SF 441,203 SF 54 COMBINED TOWERS HOTEL KEYS: UNITS: RETAIL: SELLABLE: GROSS: PHASE 1 SOUTH TOWER UNITS: HOTEL KEYS: SELLABLE: GROSS: STORIES:: 120 800 7,205 SF 544,764 SF 937,182 SF 383 120 271,918 SF 495,979 SF 62 7 <<< BAYFRONT ENTITLED DEVELOPMENT Bayfront Towers is zoned T6-80 O, South ’s most liberal and aggressive zoning code. TOWERS Allowing up to 1,000 units per acre and 80 stories in height. Under this code, the developer is allowed to build up to 860 residential units. The entitled plans maximized the allocated density by building 800 condominium units and an additional 120 hotel keys.

IMPROVEMENTS ARCHITECT'S PROPOSED MASSING Property Type Apartment Condominium Number of Buildings 1 Podium + 2 Towers Number of stories 54 & 62 Gross Building & Parking Area 917,238 SF Structured Parking Podium 140,900 SF Net Rentable / Sellable Area- Residential 475,614 SF Net Rentable / Sellable Area- Hotel 44,072 SF Net Rentable / Sellable Area- Retail 7,205 SF Total Net Rentable / Sellable Residential, 526,891 SF Hotel & Retail Area Number of Residential Units 800 Units Average Residential Unit Size 595 SF Number of Hotel Keys/Rooms 120 Rooms Average Hotel Room Size 367 SF Year Built Proposed Proposed Floor Lot Area (FLR) 24.46 Structured parking garage Proposed Parking Improvements podium with stackers Proposed Parking Spaces 560 Parking Ration (spaces/1,000 - SF) 1.06

ARCHITECT'S NORTH TOWER SOUTH TOWER PROPOSED PHASING PHASE I PHASE II Number of Stories 54 Stories 62 Stories Gross Building & Parking Area 433,961 SF 483,277 SF Structured Parking Podium 70,494 SF 70,406 SF Net Rentable/Sellable Area- Residential 260,083 SF 215,531 SF Net Rentable / Sellable Area- Hotel N/A 44,072 Net Rentable / Sellable Area- Retail 7,205 SF N/A Total Net Rentable / Sellable Residential, 267,288 SF 259,603 SF Hotel & Retail Area Number of Residetial Units 417 Units 383 Units Average Residential Unit Size 624 SF 563 SF Number of Hotel Keys/Rooms N/A 120 Units Average Hotel Room Size N/A 367 SF Proposed Parking Spaces 280 280 Parking Ration (spaces/1,000 SF) 1.05 1.08

8 9 BAYFRONT TOWERS

PROPOSED RESIDENTIAL UNIT MIX

NORTH TOWER PHASE I

UNIT MIX/TYPE NO. UNITS % OF TOTAL UNIT SIZE (SF) NRA (SF)

Studio 80 19.20% 450 36,000

1BR/1BA 270 64.70% 630 170,100

2BR/2BA 67 16.10% 806 53,983

Total/ Average 417 100% 624 260,083

SOUTH TOWER PHASE II

UNIT MIX/TYPE NO. UNITS % OF TOTAL UNIT SIZE (SF) NRA (SF)

Studio 75 19.60% 450 33,750

1BR/1BA 250 65.30% 550 137,500

2BR/2BA 58 15.10% 763 44,281

Total/ Average 383 100% 563 215,531

PROPOSED HOTEL ROOM MIX

SOUTH TOWER PHASE II

UNIT MIX/TYPE NO. UNITS % OF TOTAL UNIT SIZE (SF) NRA (SF)

Lodging Units 120 100% 367 44,072

10 11 BAYFRONT TOWERS

EXISTING PARKING STRUCTURE

The existing asset is a 863 space parking garage with PRE-COVID occupancy rates of over 90%. Income is generated from monthly parking passes, transient income and valet services. Adjacent to the garage is YOTELPAD, a sold out condo hotel development with no parking, projected to open in 2021.

NOI (PY Ending Dec 2019): $1,290,302

REVENUE PY Ending Dec 19 Total Gross Revenue $2,145,685.35

Florida Sales Tax -$136,056.38 Miami Surcharge -$262,964.90 Total Sales Tax -$399,021.28

Total Net Revenue $1,746,664.07

Total Payroll Expense $135,149.47

Total Administrative Expense $78,115.36

Total Operating Expense $95,522.17

Total Repair & Maintenance Expense $81,215.70

Total Management Fee Expense $23,388.74

Total Utilities Fee Expense $42,970.31

Total Expenses $456,361.75

Total Net Operating Income / (Loss) $1,290,302.32

*Not including taxes or property insurance

12 13 TOTAL RENT REVENUE SUMMARY - POST COVID # SPACES MONTHLY RATE PER SPACE PER/MTH Monthly Parker 888 $145.00 $128,760 BAYFRONT Transient Parker $54,680 Valet (Temporarily discounted to $8,000/ $15,000 TOWERS mth)(1) Total Monthly Revenue $198,440 Annual Income Escalation 3.0% First Escalation 10/1/21

OPERATING EXPENSES 2020 BUDGET % FIXED POST-COVID ASSUMPTIONS Payroll $148,800 90% Administrative $93,600 90% Bayfront Towers projected NOI for 2020 was $1.5M; however, the loss of transient parking and monthly passes Security $24,000 10% Other Operating Expenses $8,400 50% during Q2 and Q3 due to COVID-19, resulted in a projected net operating of income of $966,000 with a R&M - Pressure Washing $10,500 100% R&M - Sprinkler & Fire Protection $3,005 100% significant increase in revenue on year 2 and year 3 once the workforce returns to the office and the city returns R&M - Other $31,200 50% back to normalcy. Monthly parking passes in downtown range between $130 to $240 a month, per space. Management Fee - Base $15,000 100% Management Fee - Incentive $31,200 0% Utilities $33,600 100% TOTAL $399,305

Annual Expense Escalation 3.0% CASH FLOW PROJECTION First Escalation 10/1/21

FISCAL YEAR START 10/1/20 10/1/21 10/1/22 10/1/23 10/1/24 10/1/25 TOTAL ANALYSIS YEAR 1 2 3 4 5 6

REVENUE Monthly Parker $1,223,220 $1,606,925 $1,655,133 $1,704,787 $1,755,930 $1,808,608 $9,754,602 Transient Parker 464,780 675,845 696,120 717,004 738,514 760,669 4,052,932 DEC Valet Contract 159,000 185,400 190,962 196,691 202,592 208,669 1,143,314 TOTAL GROSS REVENUE $1,688,000 $2,282,770 $2,351,253 $2,421,790 $2,494,444 $2,569,277 $13,807,534

Florida Sales Tax 118,160 159,794 164,588 169,525 174,611 179,849 966,527 Miami Surcharge 253,200 342,415 352,688 363,269 374,167 385,392 2,071,130 TOTAL NET REVENUE $1,316,640 $1,780,560 $1,833,977 $1,888,996 $1,945,666 $2,004,036 $10,769,876.39

EXPENSES Payroll 141,235 153,264 157,862 162,598 167,476 172,500 954,935 Administrative 88,842 96,408 99,300 102,279 105,348 108,508 600,685 Security 13,019 24,720 25,462 26,225 27,012 27,823 144,261 Other Operating Expenses 6,265 8,652 8,912 9,179 9,454 9,738 52,199 R&M - Pressure Washing 10,500 10,815 11,139 11,474 11,818 12,172 67,918 R&M - Sprinkler & 3,005 3,095 3,188 3,284 3,382 3,484 19,438 Fire Protection R&M - Other 23,269 32,136 33,100 34,093 35,116 36,169 193,884 Management Fee - Base 15,000 15,450 15,914 16,391 16,883 17,389 97,026 Management Fee - Incentive 15,339 32,136 33,100 34,093 35,116 36,169 185,953 Utilities 33,600 34,608 35,646 36,716 37,817 38,952 217,339 TOTAL EXPENSES $350,074 $411,284 $423,623 $436,331 $449,421 $462,904 $2,533,638 NET OPERATING INCOME $966,566 $1,369,276 $1,410,354 $1,452,665 $1,496,245 $1,541,132 $8,236,239

14 15 SITE ACCESSIBILITY

BAYFRONT TOWERS

LEGEND 1 I-95 & I-395 2 Virgin Brightline Station 3 Metro Rail 4 Metro Mover

16 17 INVESTMENT HIGHLIGHTS

CONNECTIVITY & WALKABILITY

Bayfront Towers has quick, direct access to Biscayne Blvd and the First Street Metromover Station, and is just a few blocks away from MiamiCentral, a high-performance rail transportation hub with connections to Fort Lauderdale, West Palm Beach, and (soon) Orlando. Accessibility is everything in Miami, as traffic becomes similar to other major Metropolitan cities like New York and Los Angeles. Bayfront Towers residents are perfectly located to get anywhere quickly. The location provides walkable access to shops, restaurants, and offices, along with the convenience of being surrounded by multiple forms of public transportation.

BAYFRONT TOWERS

WALK SCORE: 99

TRANSIT SCORE: 100

BIKE SCORE: 75

18 19 MARKET DRIVERS

F B D

C BAYFRONT TOWERS

A E

MIAMI CENTRAL/ MIAMI WALDORF SKYVIEW YOTEL PORT A BRIGHTLINE B WORLD CENTER C ASTORIA D MIAMI WHEEL E PAD F MIAMI

20 21 MARKET DRIVERS

MIAMI WORLDCENTER

PARAMOUNT Condos - 569 units, 60 stories

7TH STREET RESIDENCES 441 units, 43 stories

LUMA Rentals - 434 units, 43 stories

CAOBA Rentals - 444 units, 43 stories

293 Hilton hotel rooms, 236 condos/hotel residences, 153 OKAN provate condos, 64,000 SF of office space RETAIL PROJECTS 7TH STREET PROMENADE/WORLD SQUARE 300,000 SF of high street retail/two pedestrian promenades and main square 1 & 2 stories

HOTEL & CONVENTION CENTER

MARRIOT MARQUIS HOTEL 1,700 Hotel Rooms, 500,000 & MWC EXPO CENTER SF of event & expo space 50 stories, 400 Airbnb-friendly NATIVO condos, 204 hotel style rooms and retail/restaurants

LUMA Rentals - 434 units, 43 stories

12 story hotel with 350 hotel CITIZEN M rooms

22 23 MARKET DRIVERS

BRIGHTLINE MIAMI CENTRAL One of the most advanced passenger rail systems in the nation connecting downtown Miami, Fort Lauderdale, West Palm Beach and Orlando. It also serves as the central hub to all forms of transportation with direct access to the Metromover, Metrostation and Tri-Rail with 280,000 square feet office, 185,000 square feet retail, 800 apartments. The Brightline passenger train is changing the way people live, work and commute.

MIAMI FORT LAUDERDALE WEST PALM BEACH ORLANDO 30 MIN 60 MIN 3 HRS FUTURE EXPANSION

24 25 DOWNTOWN MIAMI

Port of Miami Frost Museum

AA Arena

Bayside Marketplace

Miami World Center

Miami Dade College

Grand Station

BAYFRONT TOWERS

N Miami Avenue

Brightline Station

NE 1st Street

Metromall

Diamond District

26 27 DOWNTOWN MIAMI’S UPPER EASTSIDE

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

28 29 30 to investinaround theworld. why DowntownMiamiwaslistedasoneof thetopneighborhoods the luxuryresidences at MiamiWorld Centerare justafew reasons Miami withaccompanying retail andupcoming projects suchas States. Thehighlevelsof residential developmentinDowntown continues tobeoneof thefastestdevelopingcitiesinUnited of any geography in Miami-Dade County. Downtown Miami population of Greater Downtown Miamiisthedensestpopulation as muchgrowth asGreater Downtown Miami.Thedaytime acrossthe-board growth, noplace intheCountyhasexperienced 52% andisexpectedtoincrease another16%by2024. Despitethis the population of DowntownMiamihasincreased approximately of Miami’spopulation resides inGreater Downtown.Since 2010, Dade County’s largest employment center. Over 20% of the City Downtown Miamiisthecityof Miami’surbancore andMiami- NEWGLOBAL “THE CITY” DOWNTOWN MIAMI MARKET EMPLOYEES WITHIN5MILES DAYTIME POPULATION 250,000+ 391,000+

OVERVIEW EMPLOYMENT RATE 94% BETWEEN 20&44YEARSOLD $100,000 AVERAGE HHI 53% 31 <<< MARKET OVERVIEW

STRONG MULTIFAMILY ABSORPTION RATES

Bayfront Towers connected urban experience targets the largest market of downtown residents—students, young professionals, and young families—and offers a low entry point.

The number of full-time residents in Downtown has surged as young professionals and families move into newly built towers. The current condominium projects offer pricing across the spectrum, from well below $500,000 to over $6 million, the average unit pricing at 1000 Museum. This price range reflects a maturing downtown that is attracting a wide range of buyer profiles. Downtown Miami remains a bargain compared with Miami Beach, and its pricing 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. According to the 2019 MPF Q3 Multifamily Report, the annual inventory growth in the Downtown Miami market increased by 2.7% and occupancy rates increased by 1.5%, signaling a rising demand in the market.

Demand for living space in Downtown Miami is at an all-time high, with residential projects such as Yotel selling 95% of its units before breaking ground, Paramount selling 90% of its units before completion, and X Miami leasing 40% of its units before opening.

The annual inventory growth in the Downtown Miami market increased by 2.7% and occupancy rates increased by 1.5%.

32 33 1 2 MARKET OVERVIEW

DOWNTOWN MIAMI EVENTS & ATTRACTIONS

1 AMERICAN AIRLINES ARENA: Located in the center of Downtown Miami and the Entertainment District, American Airlines Arena hosts 80+ non-basketball events each year, including A-list concerts, family shows, sporting events, national conferences, and more. The stadium seats over 19,600 people with as many as 200 events per year.

3 4 2 BAYFRONT PARK: Bayfront Park is a 32-acre public, urban park in Downtown Miami. The park has 1,200 feet of frontage along Biscayne Bay. Bayfront Park is host to many large concerts and community events.

3 PORT MIAMI: Cruise Capital of the World. PortMiami is the world’s busiest cruise port by passengers. Over 55 cruise ships from over 22 cruise lines call PortMiami home. In 2018, PortMiami’s total cruise passenger count was more than 6 million – a 12% increase from 2017.

4 ART BASEL: is North America's most comprehensive international contemporary art fair with over 268 galleries from 35 countries showcasing works by more than 4,000 artists. Exhibits for Art Basel are primarily held in Miami Beach and Greater Downtown. 5 6 5 ULTRA MUSIC FESTIVAL: An annual three day music festival held in Downtown Miami’s Bayfront Park with an estimated attendance of over 165,000 people.

6 MIAMI BOAT SHOW: The show's mix of products, education, attractions and entertainment draws a highly targeted audience of boaters, fishermen and outdoors enthusiasts with over 100,000 visitors in attendance each year. With an economic impact of $854 million annually, the Miami Boat Show is an economic driver, employing an estimated 5,700 people and filling approximately 100,000 hotel room nights in Miami.

GREATER DOWNTOWN IS THE 2ND-MOST POPULAR DESTINATION BEHIND THE BEACHES & MIAMI BEACH 34 35 PARKING LOT COMPS

# PROPERTY NAME PROPERTY ADDRESS MONTHLY RATE 1 Burdines Lot 23 SE 2nd Street $185.00 2 Whole Foods 299 SE 3rd Avenue $180.00 3 Citigroup Center 201 S Biscayne Blvd $180.88 4 Metro Parking Systems Garage (Vitas) 100 S Biscayne Blvd $300.00 5 Suntrust International Garage 1 SE 3rd Avenue $180.88 6 2 S Biscayne Blvd $159.95 7 225 SELF PARK 225 SE 2nd Street $323.57 8 Chase Garage 150 SE 2nd Avenue $180.00 9 Courtyard Marriott 200 SE 2nd Street $250.00 10 Knight Center Garage 100 SE 2nd Street $207.89 11 Wells Fargo Center 333 SE 2 Avenue $266.16 16 12 Southeast Financial Center 200 S Biscayne Blvd $260.00 13 130 Biscyane Blvd $300.00 14 200 SE 2nd Street $393.76 15 Alfred I. Duppont Bldg. 169 Flager Street $205.00 16 Bayside 401 Biscyane Blvd $155.00 17 Intercontinental Hotel 100 Choping Plaza $150.00 BAYFRONT TOWERS 18 Hyatt Regency 400 SE 2 Ave $155.01 13 AVERAGE $224.06

15 5 6 8 7 4 14 9 17 1 12 3 10 2

18 11

36 37 LAND COMPS

1

BAYFRONT TOWERS

4 2

3

1 FEDEX MIAMI 2 WALDORF ASTORIA 3 CITIZEN M 4 MIAMI WORLD

200 S MIAMI AVENUE 400 BISCAYNE BLVD 158 NE 8TH STREET N MIAMI AVE + 9TH STREET

Lot Size: 51,561 SF Lot Size: 50,244 SF Lot Size: 14,971 SF Lot Size: 44,635 SF

Zoning: T6-80-O Zoning: T6-80-O Zoning: T6-60a-O Zoning: T6-60a-O

Sale Price: $37.25M Sale Price: $55M Sale Price: $10.75M Sale Price: $26.78M

PSF/Land: $722 PSF/Land: $1,095 PSF/Land: $718 PSF/Land: $600

Buildable: 1,237,464 SF Buildable: 1,808,784 SF Buildable: 404,217 SF Buildable: 834,795 SF

Price per FLR: $30 Price per FLR: $30 Price per FLR: $27 Price per FLR: $32

Units: 1,180 Units: 540 Units: 351 Units: 560

Price per Price per Price per Price per $31,568 $101,852 $30,627 $47,821 Unit: Unit: Unit: Unit:

38 39 LAND COMPS - CONTINUED

BAYFRONT TOWERS 5

7 6

5 LA ORQUIDIA 6 LUMA 7 ADIOS LAND

151 NE 1ST STREET NE 2ND AVE + 7TH STREET 90 NE 11TH STREET

Lot Size: 15,000 SF Lot Size: 14,490 SF Lot Size: 23,129 SF

Zoning: T6-80a-O Zoning: T6-60a-O Zoning: T6-60a-O

Sale Price: $9.5M Sale Price: $19.53M Sale Price: $16.53M

PSF/Land: $633 PSF/Land: $1,348 PSF/Land: $715

Buildable: 360,000 SF Buildable: 405,000 SF Buildable: 254,419 SF

Price per FLR: $26 Price per FLR: $48 Price per FLR: $65

Units: 340 Units: 434 Units: 256

Price per Price per Price per $27,941 $45,000 $62,400 Unit: Unit: Unit:

40 41 APARTMENT RENTAL COMPS

1 2

BAYFRONT TOWERS

3

4

1 MUZE AT MET 2 MONARC AT MET 3 X MIAMI 4 COABA

340 SE 3RD STREET 201 SE 2ND AVENUE 230 NE 4TH STREET 698 NE 1ST AVENUE

Units: 391 Units: 462 Units: 464 Units: 444

Avg SF: 1,004 Avg SF: 886 Avg SF: 616 Avg SF: 825

Avg Rent: $2,693 Avg Rent: $2,314 Avg Rent: $2,141 Avg Rent: $2,623

Avg Rent/PSF: $2.68 Avg Rent/PSF: $2.61 Avg Rent/PSF: $3.48 Avg Rent/PSF: $3.18

42 43 APARTMENT SALES COMPS

BAYFRONT TOWERS

3 1

2

2 1 Bedroom Avg SF: 1,425 1 1000 MUSEUM Avg Price: $819,857 3 Studio Avg Price/PSF: $559 Avg SF: 531 1000 BISCAYNE BLVD Avg Price: $356,000 2 Bedroom Avg Price/PSF: $671 4 Bedroom Avg SF: 1,908 Avg SF: 4,780 Avg Price: $1,175,750 1 Bedroom Avg Price: $6,530,909 Avg Price/PSF: $611 Avg SF: 618 Avg Price/PSF: $1,366 Avg Price: $401,200 3 Bedroom Avg Price/PSF: $673 5 Bedroom Avg SF: 2,541 Avg SF: 10,361 Avg Price: $1,652,717 YOTEL 2 Bedroom Avg Price: $23,425,000 Avg Price/PSF: $652 Avg SF: 708 235 NE 2ND STREET Avg Price/PSF: $2,262 Avg Price: $433,000 SOLD OUT before 4 Bedroom Avg Price/PSF: $612 Unit prices range from PARAMOUNT breaking ground $6M to over $25M Avg SF: 4,414 900 NE 1ST AVENUE Avg Price: $4,760,000 90% sold before opening Avg Price/PSF: $1,078

44 45 RETAIL LEASE COMPS

1 2

BAYFRONT TOWERS

3

1 MUZE 4 MARINA BLUE

300 SE 3RD AVENUE 888 BISCAYNE BLVD

Tenant: Tenant: Silverspot Cinemas Pucci’s Pizza

3 Floors Suite 1st Floor

4,800 SF 4 600 SF

Rate: $85 PSF Rate: $65 PSF

2 CENTRO 3 XMIAMI 151 SE 1ST STREET 230 NE 4TH STREET

Tenant: Crazy Poke Tenant: Bellamia Tenant: Inara Sushi Tenant: Cafe Fiorini

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

1,200 SF 1,000 SF 1,100 SF 1,222 SF

Rate: $80 PSF Rate: $85 PSF Rate: $63 PSF Rate: $65 PSF

46 47 OFFICE LEASE COMPS

5 4

1 NEW WORLD TOWER 4 CITIGROUP CENTER 100 N BISCAYNE BLVD 1 201 S BISCAYNE BLVD

Class: B Office Class: A Office BAYFRONT TOWERS $46-$50 Rent: $38-$42 FS Rent: + electric $43-$60 Lease Comp: $34-$40 Lease Comp: 2 + electirc

2 DUPONT 5 WELLS FARGO CENTER

169 E FLAGLER STREET 333 SE 2ND AVENUE

Class: B Office 3 Class: A Office SE 1st Avenue Rent: $29-$35 FS Rent: $48 FS

Lease Comp: $29-$35 FS Lease Comp: $43-$48 FS

Flagler Street

3 ONE FLAGLER 6 COURTHOUSE TOWER

14 NE 1ST AVENUE 44 W FLAGLER STREET

Class: B Office 6 Class: B Office

Rent: $25-$31 MG Rent: $19.2-$35 FS

$23.5-$39.68 Lease Comp: Lease Comp: $30-$32 FS MG

48 49 BAYFRONT TOWERS

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. BAYFRONT TOWERS

FULLY ENTITLED COVERED LAND PLAY IN HEART OF DOWNTOWN MIAMI

Contact Information

MIKA MATTINGLY BRADLEY ARENDT CECILIA ESTEVEZ Executive Managing Director Director Associate +1 786 486 4391 +1 773 343 4695 +1 305 602 5020 [email protected] [email protected] [email protected]