VALUE-ADD FRACTURED CONDOMINIUM INVESTMENT OPPORTUNITY

North Miami, Miami-Dade County, FL

77UNITS

2008YEAR BUILT

1,111 SF AVG. UNIT SIZE

Concrete BLOCK CONSTRUCTION

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THE OFFERINGJones Lang Lasalle (“JLL”) is pleased to exclusively offer the opportunity to acquire 77 condominium units within The Oaks in North Miami (the “Property” or “Offering”), a 96-unit garden-style fractured condominium property in the rapidly growing North Miami submarket of Miami-Dade County. Ownership has title to 77 out of 96 residential units (or 80.2%) of Oaks in North Miami, currently run as a traditional rental community, and full control of the COA. The Offering demonstrates tremendous upside potential through streamlined operations and interior/exterior upgrades, as well as a clear path to collapsing the association through the acquisition of additional units.

The Oaks in North Miami was built to condo-quality specifications, featuring concrete block construction, just 1 mile east of Interstate-95. The Property is strategically located equidistant from Miami and Fort Lauderdale CBDs, South Florida’s largest employment centers and within close proximity to some of South Florida’s largest demand drivers, necessity retail, and desirable recreation; 4 miles from Sunny Isles Beach, 5 miles from Aventura Mall and 4 miles from Florida International University’s Biscayne Bay Campus.

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PROPERTY SUMMARYName: The Oaks in North MiamiAddress: 13820 NE 3rd Court, North Miami, FL 33161Units Owned / Units in Community: 77 / 96 (80.2%)Average Unit Size: 1,111 SFRentable Multi-Housing SF: 85,551 SFSite Size (SF): 217,800 SFSite Size (Acres): 5 AcresZoning Designation: R-6, Multifamily - High DensityYear Built: 2008Ceiling Height: 8 FeetSurface Parking Spaces Owned: 219Condominium Association Board Seats: 100%

UNIT MIX SUMMARYDescription Unit Count Occupancy Unit Size2 Bedroom 18 94% 967 SF3 Bedroom 59 93% 1,155 SFTotal/Avg. 77 94% 1,111 SF

COMMUNITY AMENITIESGated community Ample resident parkingChildren's outdoor playground Guest parking spacesBeach volleyball court Individual unit balconiesOutdoor grill & picnic area Pet play areas

UNIT AMENITIESRenovated kitchens (in select units)Renovated bathrooms (in select units)Stackable washer / dryerDishwashersRenovated Interiors

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INVESTMENT HIGHLIGHTSHIGH QUALITY ASSET WITH SIGNIFICANT VALUE-ADD POTENTIAL

Oaks in North Miami has been well-maintained under current ownership. Constructed with concrete block, and well-designed floor plans, the Property represents an incredible opportunity for an investor to achieve additional income growth through continued unit and amenity upgrades. The asset’s superb positioning within the rapidly growing North Miami submarket further enhances its upside potential.

AS-IS POTENTIAL

THE OAKS IN NORTH MIAMI - CLASSIC KITCHEN REPRESENTATIVE PHOTO - UPGRADED KITCHEN

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CENTRAL TO MAJOR EDUCATION CENTERS

Barry University 1.7 Miles

Nova Southeastern University 15.5 Miles

University of Miami 16.6 Miles

Johnson & Wales UniversityNORTH MIAMI CAMPUS 2.3 Miles

Florida International UniversityBISCAYNE BAY CAMPUS 4.0 Miles

Barry University is a 40-acre campus, private institution with 4,300 undergraduate students and 4,700 graduate students. Barry offers more than 100 bachelor’s, master’s and doctoral degree programs including being one of only nine podiatric medicine college in the United States.

FIU Biscayne Bay campus is 200 acres with a student body of more than 7,000. FIU’s School of Hospitality and Tourism Management, Marine Biology, along with Journalism and Mass Communication, are headquartered at FIU- Biscayne. More than twenty-degree programs are offered including four master’s and one doctoral program.

This facility houses dental, family medicine, and optometry clinics operated by the Health Professions Division. The campus is the home of the new College of Allopathic Medicine, which is NSU’s new M.D. degree granting program. The new college makes Nova Southeastern the first institution in the Southeast to grant both MD and DO medical degrees.

The 260-acre, 17,000-student / 16,000-employee campus of the University of Miami located is a major asset to the Coral Gables community and is known for its distinguished graduates specializing in health care, law, business, and entertainment.

Johnson & Wales University is home to 1,500 students from 51 countries. JW offers 16-degree programs ranging from marketing and management to culinary arts and food service management.

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30-MINUTE DRIVE TIME MAP

115.1 Million SF of Office Space Across Major Employment Nodes

IMMEDIATE HIGHWAY CONNECTIVITY

With near immediate access to the Palmetto Expressway, US-1 and I-95, Oaks in North Miami benefits from quick and easy access to near anywhere in South Florida. Its central location positions the Property just 25 minutes from both Downtown Fort Lauderdale and Downtown Miami, South Florida’s two largest urban centers.

THE OAKS IN NORTH MIAMI - EXTERIOR

THE OAKS IN NORTH MIAMI - EXTERIOR

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Miami

Miramar

Hialeah

Hollywood

Miami Gardens

Pembroke Pines

Fort Lauderdale

Davie

Weston

Sunrise

Kendall

Tamarac

Carol City

Hallandale

Lauderhill

Plantation

North Miami

Miami Beach

Coral Gables

Lauderdale Lakes

Aventura

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£¤41

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Broward

Miami-Dade

Biscayne Bay

Atlantic Ocean

HOLLYWOOD

6.3 Million SF of O�ice Space

PLANTATION/DAVIE

8.4 Million SF of O�ice Space FORT LAUDERDALE

20.1 Million SF of O�ice Space

DOWNTOWN MIAMI/BRICKELL

24 Million SF of O�ice Space

MIAMI BEACH

4.8 Million SF of O�ice Space

AVENTURA/HALLANDALE

4 Million SF of O�ice Space

DORAL/WEST MIAMI

20.6 Million SF of O�ice Space

PEMBROKE PINES/WESTON

9.5 Million SF of O�ice Space

MIAMI LAKES

3.6 Million SF of O�ice Space

CORAL GABLES

11.4 Million SF of O�ice SpaceCOCONUT GROVE

2.4 Million SF of O�ice Space

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DRIVE TIME MAP (30 MINUTE RADIUS)

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CHILDREN’S ACADEMYPRESCHOOL

NORTH MIAMIELEMENTARY SCHOOL

NATURAL BRIDGEELEMENTARY SCHOOL

SHOPPES AT ARCH CREEK

DORAL CENTRE

RK CAUSEWAY PLAZA

KEYSTONE SHOPPING CENTER

184-acre, $4 billion mini city that is a joint venture between Turnberry and LeFrak

First phase delivered in 2019 included the relocation of a Costco on the site, two apartment towers (Shoreline), retail and a 7-acre lagoon

Next phase will include a 33-story, 300-unit condominium and largescale retail

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IMMEDIATE PROXIMITY TO NECESSITY & ENTERTAINMENT RETAIL

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CHILDREN’S ACADEMYPRESCHOOL

NORTH MIAMIELEMENTARY SCHOOL

NATURAL BRIDGEELEMENTARY SCHOOL

SHOPPES AT ARCH CREEK

DORAL CENTRE

RK CAUSEWAY PLAZA

KEYSTONE SHOPPING CENTER

184-acre, $4 billion mini city that is a joint venture between Turnberry and LeFrak

First phase delivered in 2019 included the relocation of a Costco on the site, two apartment towers (Shoreline), retail and a 7-acre lagoon

Next phase will include a 33-story, 300-unit condominium and largescale retail

959595

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Greynolds Park

FIUBiscayne

Bay Campus

Barry University

St Thomas University

Opa-LockaExecutive

Airport

Miami Dade College-North

Miami Gardens

Carol City

North Miami

North Miami Beach

Aventura

Pinewood

Opa-Locka

Golden Glades

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E 65th St

NE 167th St

N M

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12th Ave

NE 10th Ave

NE 107th St

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17th Ave

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2nd Ave

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Biscayne BayBiscayne Bay

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ACCESS, ACCESS, ACCESS

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THE OAKS IN NORTH MIAMI - BATHROOMTHE OAKS IN NORTH MIAMI - BEDROOM

THE OAKS IN NORTH MIAMI - EXTERIOR

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THE OAKS IN NORTH MIAMI - PLAYGROUNDTHE OAKS IN NORTH MIAMI - LIVING ROOM

THE OAKS IN NORTH MIAMI - EXTERIOR

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Copyright © Jones Lang LaSalle IP, Inc. 2019

1450 Brickell AvenueSuite 2110Miami,FL 33131305 448 1333

North Miami, Miami-Dade County, FL

MAURICE HABIFSenior Directormaurice.habif@am.jll.com305 448 1610

SIMON BANKEDirectorsimon.banke@am.jll.com305 421 6546

VICTOR GARCIA (Lead)Directorvictor.garcia@am.jll.com305 913 5547

JO ROUSSEAUAnalystjo.rousseau@am.jll.com305 532 2352

LUCA VICTORIAAnalystluca.victoria@am.jll.com786 532 2345

JESSE WRIGHTDirectorjesse.wright@am.jll.com786 532 2347

INVESTMENT ADVISORY DEBT PLACEMENT

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