THE OFFERING

BlueGate Partners LLC (“BlueGate”) has been engaged by FCI Residential (the “Owner”)

to secure senior financing for The Park at Kendall in Miami, Florida (the “Property”). The

Property is a newly-constructed Class A garden-style apartment community consisting of 296

one-, two- and three-bedroom units in 14, three-story structures. The Property includes numer-

ous amenities housed in and around an expansive clubhouse that includes a state-of-the-art

fitness center with distinct spinning and aerobics rooms, a beach-entry pool with cabanas

and a children’s playroom and playground, amongst other options. Located less than 20

miles southwest of Downtown Miami, the Property offers residents excellent access to local

and regional amenities. With its exceptional finishes and lengthy list of community amenities,

The Park at Kendall sets the new standard for luxury garden apartment living in South Miami.

PROPERTY DETAILS

Address: 16480 SW 137th Avenue, Miami, FL 33177Parcel Size: 12.24 Acres Number of Buildings: 15Number of Units: 296 Net SF: 302,240Parking: 76 garage, 44 carport and

463 surface spaces

M i am i , F l o r i d a

Newly Constructed Class A Multifamily Financing Opportunity

Exclusively Offered By

MARK A. DELILLO JEFFREY D. BASTOW ERIC M. BYLIN CRAIG J. CALLAWAYManaging Partner Managing Director Managing Partner Senior Vice Presidentmdelillo@bluegatepartners.com jbastow@bluegatepartners.com ebylin@bluegatepartners..com ccallaway@bluegatepartners..com212.381.7606 212.381.7601 561.655.1742 561.655.1748

INVESTMENT HIGHLIGHTSTREMENDOUS ACCESS TO MIAMI AND LOCAL ATTRACTIONSThe Property is located on SW 137th Avenue which runs north-south and provides access to

major Miami area roadways. Located less than 2.5 miles west of the Florida Turnpike and less

than five miles west of Highway US-1, residents of the Property can reach downtown Miami in

as little as 30 minutes. There are three airports located within 30 miles of the Property including

Miami International Airport which accommodates over 40 million passengers each year. There

is no shortage of recreation options nearby as the Miami Zoo is located down the road and

there are three golf courses within a short drive. For more adventurous residents, a brief drive

to Downtown Miami provides access to the endless dining, shopping and nightlife options in

addition so some of the most beautiful beaches in the country. For daily needs, there are five

supermarkets within two miles of the Property including a Publix supermarket and a Winn-Dixie.

PROXIMITY TO LOCAL EMPLOYERSResidents of the Development have access to one of the largest employment centers in

the southeast United States thanks to its proximity to downtown Miami. Miami-Dade County

in general has a diverse economy that is largely based on tourism, international trade and

banking. Employers located within a short commute of the Property include Baptist Health

South Florida, Homestead Air Force Base and the University of Miami which collectively em-

ploy over 27,000 people throughout the county. Tourism continues to represent the largest

industry in the area with several major cruise lines headquartered near the Port of Miami.

STRONG POPULATION GROWTH AND RENTER BASEMiami-Dade County experienced strong population growth between 2010 to 2015, as the

total population increased by over double the rate of the country. This increase has coincided

with a drop in the vacancy rate for Miami area multifamily

units, which has decreased from a high of 6.7% during the

financial crisis to a 15 year low of 2.9% in 2015. According

to Claritas, this strong growth is expected to continue

through 2020 with the population continuing to grow by

6.6%, which is 86.6% higher than the expected national

average. Claritas also expects the number of households

in Miami-Dade County to increase by more than 6.8%

over the next 5 years, further increasing the areas demand

for housing options. Miami-Dade County has a proportion-

ately high percentage of renters, with approximately

45.0% of all housing units rented. With the expected in-

crease in population, and the relatively high percentage

of renters in the local area, The Park at Kendall is uniquely

positioned to benefit from residents who are seeking luxury

housing options.

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Bal HarbourShops

Opa-LockaAirport

BarryUniversity

Joe RobbieStadium

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MiamiInternationalAirport

Villa VizcayaMuseum & Gardens

Central BusinessDistrict

FreedomTower

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Miami-Dade Co.Auditorium

BaysideMarketplace

Fontainbleau

HiltonMiami BeachConvention CenterJackie GleasonTheater of Performing Arts

ART DECODISTRICT

Lincoln Rd. Mall& Arts District

OMNIInt'l Mall

New AmericanAirlines Arena

BiltmoreGolf Club

CrandonPark

Universityof Miami

Univ. of Miami -South Campus

MiamiZoo

Florida Int’lUniversity

Miami DadeCollege

Kendall-TamiamiExecutive Airport

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Miami Beach

Hialeah

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Coral Gables

Coral Gables

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WestwoodLakes

IndianCreekVillage

Kendall

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Community Amenities• Modern and Spacious Fitness Center • Indoor Spinning Studio• Expansive Clubhouse Veranda• Resort-Style, Beach-Entry Pool• Pool Deck with Cabanas• Outdoor Fire-Pit and Grill• Outdoor Billiards Lounge• Gated-Access Surface Parking & Carports• Private Storage Spaces• Clubhouse with Cyber Café• Business Center• Outdoor Playground• Indoor Children’s Playroom• Dog Park

Apartment Amenities• Granite Countertops• Stainless Steel Appliances• Tiled Floors in Living Areas• 9-foot ceilings• European-Style Espresso Cabinetry• Chef’s Island Kitchens• Oversized Bathtubs• Patio or Balcony• Spacious Walk-in Closets• Oversized Windows• In-Unit, Full-Size Washer/ Dryer• Hurricane-impact Windows and Sliding

Glass Doors

1450 Broadway, 30th Floor, New York, New York 10018Tel: 212.381.7612 • Fax: 917.591.9696

420 Royal Palm Way, Suite 310, Palm Beach, FL 33480Tel: 561.655.1743 • Fax: 561.655.1745