FOR SALE / MF OFFERING MEMORANDUM "OM"

http://commercial.optimar.com FOR SALE / MF OFFERING MEMORANDUM "OM"

FOR SALE /MULTI-FAMILY (MF) 57 APARTMENTS / 13 PARCELS BOYNTON BEACH 5 unit building part of portfolio 404 E MLK BLVD A 404 E MLK BLVD PROPERTY HIGHLIGHTS Multifamily Portforlio Offering Property can be purchased separately Class "C" Offering in New City Development Improvement Area OPTIMAR EXCLUSIVE LISTING PRESENTED BY: Jackie Matsas hammerhead540@gmail.com 917-385-9247 OPTIMAR International Realty Leonard Werner Director Commercial Real Estate Optimar Commercial Advisors 786-537-0939 Leonardw@optimar.com 2

DISCLAIMER BOYNTON BEACH 57 Apartments / 13 Parcels of Land The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the BROKER or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the BROKER Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the BROKER. Neither the BROKER Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the BROKER Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the BROKER Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the BROKER Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. 3

TABLE OF CONTENTS BOYNTON BEACH FLORIDA / MF OFFERING 1. PROPERTY INFORMATION 4 2. LOCATION INFORMATION 7 3. ADDITIONAL INFORMATION 10 OFFERING PRICE: $5.995,000.00 (Five Million Nine Hundred Ninty Five Thousand Dollars) All SVN Offices Independently Owned & Operated. 4

FOR SALE MULTIFAMILY BOYNTON BEACH 1 PROPERTY INFORMATION Building Types: Single Family, Multi Family, Mixed Use Gross Building Area: 31,552 SF Net Rentable Area: 29,867 SF Number of Rentable Units: 57 units Number of Parcels 13 5

Executive Summary SECTION 1 PROPERTY INFORMATION BOYNTON BEACH, FLORIDA MULTIFAMILY PORTFOLIO PROPERTY OVERVIEWVIEW The subject properties are value add opportunity, where an investor could improve the units and increase rental revenue. The subject properties are located in an area with above average supporting transportation, employment, shopping, and recreational linkages. The subject properties will increase in value as the city plans to do major changes to the infrastructure of the Boynton Beach and most of our properties are within the areas that will be adding commercial and recreational elements to attract new families into the area. The subject properties with approval from the City of Boynton Beach can further be developed to increase current parcels to add floors and bedrooms and added mixed use opportunities. PROPERTY SUMMARY ASKING PRICE: $5,995,000.00 LOCATION OVERVIEWVIEW Palm Beach County is served by many major highways, including I-95, Florida Turnpike, US 27, SR 80, SR 710, US 1, SR 7, and SR A1A. Along with easy road access Palm Beach County is serviced by six airports Palm Beach International Airport, Palm Beach County Park Airport, North Palm Beach County General Aviation, Airport, Boca Raton Airport, Belle Glade State Airport, and Palm Beach County Glades. UNITS 57 Tri-Rail is a commuter rail line linking Miami, Fort Lauderdale, and West Palm Beach, Florida. It is managed by the South Florida Regional Transportation Authority (SFRTA) along CSX Transportation's former Miami Subdivision, the line now wholly owned by the Florida DOT. The 70.9-mile-long (114.1 km) system has 18 stations along the Southeast Florida coast, and connects directly to Amtrak at numerous stations, and to Metrorail at the Tri-Rail Mertorail Transfer Station and at Miami Airport station. A second Tri-Rail line on the Florida East Coast Railway corridor, dubbed the "Coastal Link", is being planned, to be operational by 2020. The planned line will operate between Jupiter and Government Center in Downtown Miami, and add passenger rail between the downtown areas of West Palm Beach, Fort Lauderdale, and Miami. Combined with the existing Tri-Rail line, the Tri- Rail system would have a daily passenger ridership of almost 30,000; or approximately 9 million passengers per annum, doubling Tri-Rail's current ridership. 6

SECTION 1 PROPERTY INFORMATION Complete Highlights 7

FOR SALE LAND/MULTIFAMILY PORTFOLIO MF BOYNTON BEACH FL 2 LOCATION INFORMATION

Market Area Analysis The area of analysis Boynton Beach, Florida is located in southeast Florida in Palm Beach County. Palm Beach County with a population of 1,397,710 and a total area of 2,383 square miles is bordered by Broward County with a population of 1,869,235 to the south, Hendry County with a population of 38,505 to the west, and Martin County with a population of 153,392 to the north. The counties encompassing the properties is a very vibrant area as of 2014 there is a population total of 2,061,132 people, and more importantly there are only 387 people per square mile. The cities around the properties as of 2014 have a population of 321,099 with 2,590 people per square mile. County Description Palm Beach County is located in a prime location located in Southeast Florida area. Palm Beach County is the 3rd most populous county with 7% of Florida's entire population. Palm Beach County includes 38 incorporated cities. Palm Beach incorporated cities are West Palm Beach, Boca Raton, Boynton Beach, Delray Beach, Wrllington, Jupiter, Palm Beach Gardens, Greenacres, Lake Worth, Royal Palm Beach, Riviera Beach, Palm Springs, Belle Glade, North Palm Beach, Lantana, Palm Beach, Lake Park, Pahokee, Tequesta, South Bay, Highland Beach, Lake Clarke Shores, Loxahatchee Groves, Juno Beach, Hypoluxo, Atlantis, Mangonia Park, Haverhill, Ocean Ridge, South Palm Beach, Palm Beach Shores, Gulf Stream, Briny Breezes, Manalapan, Jupiter Inlet Colony, Golf, Glen Ridge, and Cloud Lake. The current population is 1,397,710 compared to 1,320,124 in 2010 and increase of 5.9% the county continues to grow at a good pace by 2020 Palm Beach County will increase by 6.3%.

SECTION 2 LOCATION INFORMATION BOYNTON BEACH, FLORIDA Location Maps 9

SECTION 2 LOCATION INFORMATION Additional: UNIT LOCATIONS

FOR SALE LAND/MULTIFAMILY BOYNTON BEACH PALM BEACH COUNTY, FLORIDA 3 ADDITIONAL INFORMATION

Community Re-development Plan SECTION 3 ADDITIONAL INFORMATION 12

SECTION 3 ADDITIONAL INFORMATION BOYNTON BEACH, FLORIDA / PALM BEACH COUNTY Neighboring Development Economic & Business The subject properties are located in Boynton Beach, Florida the population of Boynton Beach in 2014 was 73,124. Boynton Beach is an incorporated city located in Palm Beach County. Boynton Beach was originally founded on September 26, 1898 when Byrd Spilman Dewey and her husband Fred S. Dewey filed the original plat in the Dade County courthouse for the Town of Boynton. The town was incorporated in 1920 as the Town of Boynton. The name "Boynton Beach" was first used by a community that broke off from the Town of Boynton in 1931. In 1939 that community changed its name to "Ocean Ridge" while The Town of Boynton took the name "Boynton Beach" in 1941. Currently Boynton Beach and specifically the Martin Luther King Jr. area where most of our properties are located in will undergo a vast improvement. The city of Boynton Beach along with the Boynton Beach Community Redevelopment Agency has launched the "Heart of Boynton Community Redevelopment Plan" initiative. This initiative will drastically change the landscape of Boynton Beach for the better. There is more work to be undertaken from the original plan, including the revitalization of the Martin Luther King Jr. Blvd., the development of the eastern portion of the old Boynton Terrace site and the redevelopment of the public works site. According to the Plan, the western portion of the Heart Of Boynton should remain predominantly single-family residential, which consists of three (3) of the seven (7) newly identified neighborhoods (i.e. Poinciana Heights, Boynton Hills and Ridgewood). The new Poinciana Heights neighborhood is the original Poinciana Heights neighborhood expanded to include the redesigned Wilson Center Park, Palmetto Park and the old Cherry Hills neighborhood. In the eastern part of the HOB, the seven original neighborhoods were reduced to the following four (4) neighborhoods: 1) the Martin Luther King, Jr. neighborhood extended north to the Boynton (C-16) Canal thereby enveloping the North MLK Jr./Happy Home Heights area; 2) a redeveloped Boynton Terrace; and 3,4) the Sheppard Addition and Arden Park neighborhoods remaining within their original boundaries. Generally, the eastern portion of the Heart of Boynton would become a mixed use development and incorporate a range of multi-family developments on either side of Martin Luther King, Jr. Boulevard, and single family homes on NE 12th and NE 13th Avenues. The Martin Luther King, Jr. Corridor, which would be redeveloped as a multifamily neighborhood, would allow for increased housing and population to support possible neighborhood services. This included the redevelopment of the City s Public Works parcel allowing for more depth in the redevelopment of this neighborhood. 13

SECTION 3 ADDITIONAL INFORMATION The proposed Martin Luther King Commercial Center is consistent with the recommendations of the 2001 Heart of Boynton Plan, which emphasized the need for neighborhood services such as a grocery store, discount stores, restaurants etc. at the intersections of Martin Luther King, Jr. Boulevard with Seacrest Boulevard and with Federal Highway. The need for these services still exists today. The challenge to the development of these sites is the ability of the public and private parties to assemble land in sufficient quantity for commercial development. While the Community Redevelopment Agency owns many parcels, its ownership is interspersed by private ownership. 14

SECTION 3 ADDITIONAL INFORMATION BOYNTON BEACH, FLORIDA Additional Photos / PROPERTIES 1303 North Railroad Avenue 339 NE 12th Avenue 136 NE 12th Avenue 1030-1032 NW 4th Street One building with two apartment units 120-122 NE 13th Avenue 336 NE 13th Avenue 128-130 NE 13th Avenue 143 NE 9th Avenue 15

SECTION 3 ADDITIONAL INFORMATION BOYNTON BEACH MULTIFAMILY Additional Photos 119 NE 10th Avenue 121 NE 10th Avenue 123 NE 10th Avenue 125 NE 10th, Avenue 318 NW 10th Avenue 323-325 NW 10th Avenue 408 NW 10th Avenue (SFH) 336-338 NW 10th Avenue 16

MUST EXECUTE NDA FOR RELEASE OF FINANCIAL DOCUMENTS ON PROPERTIES SECTION 3 ADDITIONAL INFORMATION RELEASE OF FINANCIAL DOCUMENTS 17

SECTION 3 ADDITIONAL INFORMATION Advisor Bios & Contact'S Jackie Matsas hammerhead540@gmail.com 917-385-9247 OPTIMAR International Realty Jack Matsas Commerical Advisor OPTIMAR Commercial Real Estate Advisors Jack is a seasoned professional with over 18 years of experience in Real Estate Brokerage & Finance. David has a Bachelor of Science in Finance from Florida State University in 1997. Jack is a licensed Florida Real Estate Agent and is currently pursuing a CCIM designation for Commercial Real Estate investment to better serve his clients. Specializing in the sale of Commercial Real Estate.Jack has a vast network of owners, serve his clients.. Jack has a vast network of owners, investors, developers, and multifamily related businesses with whom he consults with on a regular basis. With the support of OPTIMAR national network, Jack has the ability to market a site to maximize the owner s return.with over $90.0M in Real Estate transactions credited to his name, David is a successful negotiator who s skills include Commercial Real Estate Sales, & Marketing. David has experienced multiple economic and property market cycles, through downturn and improvement, continually evolving and improving for the benefit of his clients. Jack has worked with both private and institutional investors to acquire and manage Real Estate investments. Leonard Werner Director Commercial Real Estate Optimar Commercial Advisors 786-537-0939 Leonardw@optimar.com OPTIMAR COMMERCIAL ADVISORS 18