NEW CONSTRUCTION

ISG REPORT 13

Total New Construction Condo Units Available for Sale since Jan. 2012

Developer Units solD Developer Units UnsolD

1100 MILLECENTO 100% SOLD 382 Total Units

1010 BRICKELL 90% SOLD 352 Total Units

BRICKELL CITY CENTRE TOWER I - REACH 70% SOLD 390 Total Units

BRICKELL CITY CENTRE TOWER II - RISE COMING SOON 390 Total Units

BRICKELL HEIGHTS EAST 90% SOLD 358 Total Units

BRICKELL HEIGHTS WEST COMING SOON 332 Total Units

BRICKELL HOUSE 100% SOLD 374 Total Units

BRICKELLTEN 60% SOLD 155 Total Units

BRICKELL 30% SOLD 548 Total Units

CASSA BRICKELL 60% SOLD 81 Total Units

THE EDGE ON BRICKELL 35% SOLD 130 Total Units

ECHO BRICKELL 86% SOLD 180 Total Units

LE PARC 85% SOLD 128 Total Units

NINE AT MARY BRICKELL VILLAGE 85% SOLD 390 Total Units

MYBRICKELL 100% SOLD 192 Total Units

SLS 100% SOLD 453 Total Units

SLS LUX 55% SOLD 450 Total Units

THE BOND 86% SOLD 323 Total Units

5,608 Units total • 3,815 Units Sold • 1,793 Unsold Avg. Absorption: 1,900 Units Annually over the last 10 years

14 ISG MIAMI REPORT Biscayne Corridor Consists of Wynwood, Design District, , Midtown & Downtown Miami Total New Construction Condo Units Available for Sale since Jan. 2012

Developer Units solD Developer Units UnsolD

WYNWOOD 250 WYNWOOD 82% SOLD 11 Total Units

DESIGN DISTRICT BALTUS HOUSE 97% SOLD 167 Total Units

23 BISCAYNE BAY 100% SOLD 96 Total Units

BAY HOUSE 98% SOLD 164 Total Units

BISCAYNE BEACH 82% SOLD 399 Total Units

THE CRIMSON 72% SOLD 90 Total Units

EDGEWATER ICON ON THE BAY 100% SOLD 300 Total Units

ION 25% SOLD 330 Total Units

ONE PARAISO 97% SOLD 276 Total Units

PARAISO BAYVIEWS 55% SOLD 388 Total Units

PARAISO BAY TOWER I 95% SOLD 368 Total Units

MIDTOWN HYDE MIDTOWN COMING SOON 397 Total Units

1000 MUSEUM 40% SOLD 83 Total Units

ARIA 34% SOLD 647 Total Units

DOWNTOWN MIAMI CANVAS 5% SOLD 513 Total Units

CENTRO 85% SOLD 350 Total Units

KRYSTAL TOWERS COMING SOON 153 Total Units

PARAMOUNT, MIAMI WORLDCENTER COMING SOON 466 Total Units SIGNATURE TOWER

5,198 Units total • 2,590 Units Sold • 2,608 Unsold Avg. Absorption: 1,300 Units Annually over the last 10 years

ISG MIAMI REPORT 15 The Beaches Consists of South Beach, Miami Beach, Surfside, Bal Harbour, Sunny Isles, Hallandale and Hollywood Beach Total New Construction Condo Units Available for Sale since Jan. 2012

Developer Units solD Developer Units UnsolD

321 OCEAN 95% SOLD 21 Total Units

THE BATH CLUB ESTATES 15% SOLD 13 Total Units

BEACH HOUSE 8 100% SOLD 8 Total Units

EDITION RESIDENCES 88% SOLD 26 Total Units

FAENA HOUSE 100% SOLD 47 Total Units

MIAMI BEACH / LASS 90% SOLD SOUTH BEACH G 10 Total Units

MAREA SOUTH BEACH 93% SOLD 30 Total Units

ONE OCEAN 100% SOLD 50 Total Units

PELORO ON THE BAY 100% SOLD 114 Total Units

RITZ-CARLTON RESIDENCES 45% SOLD 111 Total Units

*1 HOTEL AND HOMES 61% SOLD 159 Total Units

FENDI CHATEAU 45% SOLD 58 Total Units

SURFSIDE SURF CLUB FOUR SEASONS 60% SOLD 150 Total Units PRIVATE RESIDENCES

BAL HARBOUR OCEANA BAL HARBOUR 50% SOLD 239 Total Units

*New Construction Standing Inventory

2,970 Units total • 2,228 Units Sold • 742 Unsold Avg. Absorption: 1,300 Units Annually over the last 10 years

16 ISG MIAMI REPORT Developer Units solD Developer Units UnsolD

400 SUNNY ISLES 100% SOLD 230 Total Units

ARMANI CASA 80% SOLD 250 Total Units

CHATEAU BEACH 98% SOLD 84 The Total Units

JADE SIGNATURE 80% SOLD 192 Total Units

SUNNY ISLES USE 50% SOLD BEACH M 68 Total Units

PARQUE TOWERS 80% SOLD 320 Total Units

MANSIONS AT ACQUALINA 96% SOLD 79 Total Units

PORSCHE DESIGN TOWER 93% SOLD 139 Total Units

REGALIA 90% SOLD 39 Total Units

TURNBERRY OCEAN CLUB 10% SOLD 154 Total Units

*BEACHWALK 100% SOLD 84 Total Units HALLANDALE BEACH GULFSTREAM PARK TOWERS 80% SOLD 182 Total Units

APOGEE BEACH 100% SOLD 49 Total Units

*HYDE RESORT AND RESIDENCES 100% SOLD 40 Total Units HOLLYWOOD BEACH SAGE BEACH 71% SOLD 24 Total Units

*Condo Residences Only

ISG MIAMI REPORT 17 Aventura

Total New Construction Condo Units Available for Sale since Jan. 2012

Developer Units solD Developer Units UnsolD

ECHO AVENTURA 85% SOLD 190 Total Units

AVENTURA BELLINI 70% SOLD 70 Total Units

PRIVE 40% SOLD 160 Total Units

420 Units total • 274 Units Sold • 146 Unsold Avg. Absorption: 265 Units Annually over the last 10 years

North Miami Beach, Key Biscayne & Coconut Grove

Total New Construction Condo Units Available for Sale since Jan. 2012

Developer Units solD Developer Units UnsolD

NORTH THE HARBOUR 60% SOLD 330 Total Units MIAMI Beach MARINA PALMS TOWERS I & II 79% SOLD 468 Total Units

KEY BISCAYNE OCEANA 100% SOLD 154 Total Units

GROVE AT GRAND BAY 100% SOLD 97 Total Units

ONE PARK GROVE COMING SOON 40 Total Units COCONUT GROVE TWO PARK GROVE 65% SOLD 73 Total Units

PARK GROVE CLUB RESIDENCES 50% SOLD 152 Total Units

1,314 Units total • 941 Units Sold • 373 Unsold Avg. Absorption: 200 Units Annually over the last 10 years

18 ISG MIAMI REPORT Fort Lauderdale

Total New Construction Condo Units Available for Sale since Jan. 2012

Developer Units solD Developer Units UnsolD

1800 LAS OLAS 75% SOLD 4 Total Units

ADAGIO ON THE BAY 83% SOLD 12 Total Units

AQUABLU FORT LAUDERDALE COMING SOON 45 Total Units

AQUALUNA LAS OLAS 50% SOLD 16 Total Units

AQUAMAR LAS OLAS 90% SOLD 20 Total Units

FORT LAUDERDALE AQUAVITA LAS OLAS 100% SOLD 22 Total Units

AUBERGE COMING SOON 171 Total Units

BELLAVITA LAS OLAS COMING SOON 16 Total Units

PARAMOUNT FORT LAUDERDALE 50% SOLD 95 Total Units

PRIVAGE 7% SOLD 22 Total Units

RIVA 40% SOLD 100 Total Units

523 Units total • 152 Units Sold • 371 Unsold Avg. Absorption: 470 Units Annually over the last 10 years New Construction Summary

TOTAL NEW CONSTRUCTION CONDO UNITS TO BE BUILT, SOLD AND CURRENTLY AVAILABLE FOR SALE IN BRICKELL, BISCAYNE 16,033 CORRIDOR (DOWNTOWN MIAMI, EDGEWATER, WYNWOOD, MIDTOWN & DESIGN DISTRICT), THE BEACHES (SOUTH BEACH, Total 6,003 MIAMI BEACH, SURFSIDE, BAL HARBOUR, SUNNY ISLES, Unsold HALLANDALE, HOLLYWOOD) AVENTURA, NORTH MIAMI BEACH, COCONUT GROVE & KEY BISCAYNE SINCE JAN. 2012.

10,000

project Units total Developer Units solD 62% SOLD Developer Units UnsolD AS OF OCT 2014

ISG MIAMI REPORT 19 A1A 75

FORT LAUDERDALE

595

E

K

I

NP

UR

T

S

A’

ORID L F 1 HOLLYWOOD BEACH

A1A

HALLANDALE BEACH

AVENTURA

95 SUNNY ISLES BEACH

BAL HARBOUR

SURFSIDE

1 NORTH MIAMI BEACH

95

DESIGN DISTRICT MIDTOWN A1A EDGEWATER MIAMI BEACH / WYNWOOD BISCAYNE CORRIDOR SOUTH BEACH

DOWNTOWN MIAMI

BRICKELL

COCONUT GROVE

1

KEY BISCAYNE

20 ISG MIAMI REPORT FORT LAUDERDALE 29% SOLD

HOLLYWOOD BEACH 94% SOLD

AVENTURA 65% SOLD

HALLANDALE BEACH 84% SOLD SUNNY ISLES BEACH 80% SOLD N e w C o n s t r u c t i o n BAL HARBOUR 50% SOLD % SOLD Summary SURFSIDE 56% SOLD by Sub Markets

NORTH MIAMI BEACH 70% SOLD 100% SOLD

75% - 99% SOLD MIAMI BEACH / SOUTH BEACH 82% SOLD 50% - 74% SOLD UNDER 50% SOLD

BISCAYNE CORRIDOR 75% SOLD

DOWNTOWN MIAMI 40% SOLD

BRICKELL 80% SOLD

COCONUT GROVE 67% SOLD

KEY BISCAYNE 100% SOLD

Based off of current buildings on the market for sale

ISG MIAMI REPORT 21