Miami's State of the Market 2016

Jorge M. Pérez, Chairman and Chief Executive Officer of The Related Group, has led South Florida’s complex urban evolution for over 40 years. His commitment to “building better cities,” and natural ability to identify emerging market trends makes his one of the most trusted and influential names in real estate. Armed with an industry leading team, unmatched land holdings, innovative financing techniques and a pipeline of more than 100,000 units, Pérez is set to answer the demands and desires of a new generation. Starting out in the 1970’s, Pérez first made a name for himself in the public housing market of low-income Miami neighborhoods, including Little Havana and Homestead. His attention to detail and commitment to creating top-tier living environments distinguished him within the marketplace and laid the groundwork for future Related projects. Nearly four decades later, his unique passion for creating vibrant urban communities makes him a trendsetter, often the first developer to enter emerging or undiscovered neighborhoods. Over the years, Pérez and The Related Group have partnered with world-class names in architecture and interior design. Collaborations with creative luminaries like Bernardo Fort Brescia, David Rockwell, Philippe Starck, Yabu Pushelberg, Piero Lissoni, Karim Rashid, Rem Koolhaas, among others, have produced neighborhood-defining projects and established Related’s numerous developments as integral components of Miami’s evolving cityscape.   A lover of art and an avid collector, Pérez infuses each development with museum-quality works of art, including pieces from master artists such as Frank Stella, Fernando Botero, Jaume Plensa, Julio Le Parc and Fabian Burgos. The carefully curated collections are proudly displayed throughout all Related developments, complementing each building’s unique character and often serving as prominent community landmarks. Driven by a lifelong commitment to better his community, Mr. Pérez has grown to become one of the country’s most prolific philanthropists and recently established two foundations dedicated to the advancement of an equitable, thriving South Florida. The first, the Related Philanthropic Foundation, serves as the charitable arm of the Related Group, while the second, named The Jorge M. Pérez Family Foundation, functions as the Pérez family’s personal philanthropic fund. While each has its own respective focus, both foundations are dedicated to empowering and supporting organizations driving positive impact in the areas of economic development, education, health and well-being, the environment, and arts and culture. The latest round of contributions includes a $1 million-donation to Florida International University’s (FIU) Metropolitan Center and a $1 million-gift benefitting twenty South Florida-based non- profits, including ArtCenter South Florida, GableStage, Miami New Drama, Adrienne Arsht Center, Arts for Learning Miami and Together for Children.

Iris Escarrá is Co-Chair of Greenberg Traurig’s Land Use Practice and a deeply experienced attorney in zoning and land use law. Located in the firm’s Miami office, Iris regularly represents property owners and developers in large development projects valued in the hundreds of millions of dollars. With her counsel, dozens of high-profile commercial, mixed-use, and residential projects have been completed throughout Miami over the past two decades. A Florida Bar Board Certified Specialist in city, county, and local government law, Iris guides clients through the municipal zoning and land use process to seek approvals for some of South Florida’s largest and most complex projects. She routinely helps clients obtain full entitlements for development, including navigating subdivision, zoning, and other applicable development regulations. She also assists in procuring government contracts and conducts due diligence to assess a property’s development potential. Her clients include many of South Florida’s largest developers, who appreciate her creative and pragmatic approach to their complex legal matters. Clients frequently praise Iris for her ability to leverage her wide-ranging knowledge of zoning and land use law to help bring their development projects to fruition.

Alice Bravo was appointed Director of the Department of Transportation and Public Works (DTPW) in February 2016. The department includes all functions of the previous Miami-Dade Transit, along with the County Engineer, Traffic Operations, Construction and Maintenance and Highway Planning, as well as the Passenger Transportation Regulation function. DTPW is responsible for Miami-Dade County’s entire surface transportation system, the planning, maintenance and operation of our roadways, transit system and taxicab and limousine services.

As President of All Aboard Florida, P. Michael Reininger is responsible for all aspects of business development and delivery for All Aboard Florida including the rail infrastructure, stations and transit-oriented real estate development, and developing all the operational functions, including the brand and customer service experience. Reininger brings to All Aboard Florida an extensive background in creating and delivering new, large-scale hospitality and transportation businesses and real estate developments. Prior to joining All Aboard Florida in 2012, Mr. Reininger was managing partner for the Union Station Neighborhood Company in Denver, Colo. where he led the efforts for planning and delivery of the redevelopment of Denver’s Union Station as a model transit-oriented urban center- integrating multiple forms of public transit with new multi-use real estate development. He also managed the development of several major projects during a 12-year tenure with subsidiaries of The Walt Disney Company, including creation of the Disney Vacation Club, the resort component of Disneyland Paris and the creation of the Disney Cruise Line. Mr. Reininger previously served as Executive Vice President and Chief Development Officer for AECOM and Senior Vice President of Creative Services and Corporate Marketing for the St. Joe Company. Mr. Reininger holds a Bachelor of Architecture, Design Specialization from Texas Tech University and executive certifications in resort and hotel master planning, financial engineering and business management from Harvard University School of Design, Harvard Business School and Wharton School of the University of Pennsylvania.

Emilio T. Gonzalez, Ph.D. serves as City Manager for the City of Miami. In that capacity, Dr. Gonzalez is the City’s chief administrator responsible for managing all departments, city employees, and a $1.08 billion budget. Since joining the City of Miami in January 2018, Dr. Gonzalez has been committed to customer service and process improvement, innovating how the City of Miami operates. Under his leadership, the City of Miami has expanded the Miami Trolley, simplified the building permit process, expanded its commitment to beautification, and is working to attract opportunities that improve quality of life and generate revenue. Dr. Gonzalez has extensive experience in different levels of business and government. Most recently he was the Aviation Director and Chief Executive Officer of the Miami-Dade Aviation Department for nearly 5 years. He oversaw all operations at Miami International Airport, one of the busiest airports in the world. Under President George W. Bush, he was a Senior Presidential Advisor and Director of Western Hemisphere Affairs for the National Security Council. From 2006 to 2008 Dr. Gonzalez was Director of United States Citizenship and Immigration Services, a Senate-confirmed executive position within the United States Department of Homeland Security. Dr. Gonzalez is a retired Colonel in the United States Army. During his stellar 26-year military career he was a Military Intelligence Officer and served in numerous field and staff positions to include the United States Southern Command. Dr. Gonzalez has received many foreign honors, civic awards and U.S. Military Honors including the White House Presidential Service Badge and multiple service medals. He holds a B.A. in International Studies from the University of South Florida, an M.A. in Latin American Studies from Tulane University, an M.A. from the U.S. Naval War College in National Security and Strategic Studies, and a Ph.D. in International Relations from the University of Miami. Dr. Gonzalez has been married to his wife Gloria for 39 years. They live in the City of Miami and have two daughters and a grandson.

Kerri L. Barsh represents public and private clients in public infrastructure matters, as well as environmental regulatory and litigation issues. She was a member of the Greenberg Traurig team that worked on some of the state’s most prominent public-private transportation projects including the construction of the PortMiami Tunnel and the widening of Interstate I-4 in and through Orlando, Florida’s largest P3 project. The two projects demonstrate how public-private partnerships can facilitate development of public infrastructure. Kerri also worked on the California Light Rail Project that connects the mega regions of the state running from San Francisco to the Los Angeles basin. She was selected by Miami Today as “Best of Miami: Thought Leaders” in 2016 and South Florida Business Journal one of 25 “Influential Business Women” in 2011.

Jon was a founding principal of ADD Inc Miami, an architecture and interior design practice which grew from two employees to over 100 before they joined Stantec in 2015. With the addition of a structural and civil engineering team, Jon now oversees 130 employees. He also co-develops the overall strategy, business development, and marketing of our growing Commercial Sector practice nationwide. Our Miami office has realized exponential growth under Jon’s client-focused leadership, designing hundreds of high-profile development projects and towers from the city’s urban core to the shoreline, helping to reshape the South Florida skyline. Recently, Jon has also proudly spearheaded the restoration of seven historic Art Deco hotels along the iconic Collins Avenue, merging each hotel’s timeless qualities with new, modern aesthetics. As a senior principal and seasoned architect, Jon specializes in commercial building design and project economics, analyzing the overall objectives which developers, public agencies, and neighborhoods envision. He uses that information to uncover additional development cost savings, ongoing operational efficiencies, and marketing benefits for high-profile, large-scale projects. Drawing from over 20 years of planning and design expertise, Jon organizes building forms, building uses, and sustainable design techniques to create dynamic, multi-faceted spaces which promote enjoyment, wellness, and productivity.

As President and Co-Founder of Terra, David Martin’s ambition has been to evolve the South Florida landscape and enrich the lives of the people within it. He has spent the past 15+ years recognizing opportunities to invigorate Miami's spirit by creating truly original and exceptional spaces in unexpected places thus redefining the way people live, beyond the norm. David's vision has led the company operations, sales, and marketing as well as investment and development projects. David leads some of Miami’s most impactful real estate developments, with an emphasis on neighborhoods like Coconut Grove, Miami Beach, Doral and Weston. Examples are the Bjarke Ingels-designed Grove at Grand Bay and the Rem Koolhaas/OMA-designed Park Grove, two new luxury condos that are helping revitalize Coconut Grove. Glass, a 10-unit condo designed by Rene Gonzalez, was recently completed in Miami Beach's SoFi district. Eighty Seven Park, Terra’s newest project just up the coast in North Beach, will be a 70-unit beachfront condo designed by Pritzker Prize-winning architect Renzo Piano. Terra is also developing the Modern and Neovita communities in Doral, as well as Botaniko in Weston, a master- planned community designed by Chad Oppenheim and Roney Mateu. With a unique interest in education, the arts and health foundations, David is actively involved in South Florida’s civic and business communities. He and his wife support several organizations with philanthropic contributions, including Miami Children's Health Foundation, Vizcaya Museums and Gardens, and the Wolfsonian FIU. He’s also an advisory board member for the UM School of Architecture Real Estate Development + Urbanism program and a member of the Latin Builders Association. David and his family are also responsible for the donation of the Freedom Tower to Miami Dade College in 2008. David is a graduate of the University of Florida with a master in business administration.

Nitin Motwani has been the managing principal of Miami Worldcenter since 2006. He is responsible for everything from land acquisition, zoning, and entitlements to financing, joint ventures, and development. Mr. Motwani is also a managing director of Encore Capital Management, which currently has over $1 billion of investments across the country, including holdings in Florida, California, Texas, and Arizona. Earlier in his career, Mr. Motwani was the president of Merrimac Ventures. Mr. Motwani is also actively involved in building the Miami community, through his roles as the chair of the Economic Development and Technology/Marketing and Communications Committees of Miami's Downtown Development Authority. Mr. Motwani is also a member of the Greater Miami Chamber of Commerce and the Beacon Council. He is also a co-chair of the nonprofit Operation Hope for Haiti, which has helped Haiti position itself for a sustainable, long-term recovery tied to economic development, education, and health.

Landlord and Tenant Representation: Identify, analyze, negotiate and close lease transactions for single and multiple sites for a multi-national group of clients in principally retail and office properties throughout the State of Florida. Since 1995, lease transactions closed total approximately 450,000 square feet with an aggregate lease value of $35,543,000. Have or currently represent in excess of 7,000,000 square feet of office, retail, industrial and residential rental properties. Real Estate Brokerage: Creation of two real estate brokerage businesses with multiple offices. Responsibilities included client development, product development, negotiation of option, purchase and sale transactions. Upon client's request and after contracting for property's purchase, analyze, underwrite and prepare underwriting report. To date, acquisitions and dispositions of properties have an aggregate value in excess of $133,935,000. Mortgage Brokerage: Responsibilities include client development, product development, administration and coordination of mortgage brokerage operation and identification of debt and equity sources through banks, mortgage and credit companies and conduit securitizations. To date, loans closed have an aggregate value of in excess of $93,000,000. Consultation & Expert Witness: Responsibilities include conducting field work and preparing reports of physical condition, financial performance of subject property and/or general market; identifying and recommending revenue enhancing and cost savings concepts to maximize investment return; determining current leasing strategies, analyzing adequacy, and, identifying and recommending modifications; identifying and recommending practical and financial feasibility of potential capital expenditures and new lease transactions; assisting with and/or preparing cash projections in conjunction with restructuring of debt; determining adequacy of buy?out offer, estate value or limited partnership interest value; conducting forensic real estate analysis; and, providing testimony pertaining to engagement. Property and Asset Management: Creation of two property management companies and one asset management division. Portfolio has or currently includes 2,400 residential rental units, 1,100,000 square feet of retail properties and 300,000 square feet of office buildings. Duties included overseeing physical condition and financial performance of up to twenty six properties; initiating revenue enhancing and cost savings concepts to maximize investment return; identifying practical and financial feasibility of potential capital expenditures and new lease transactions; preparing and reviewing cash forecasts to determine viability and timing of cash expenditures and distributions; and, reviewing property performance and market conditions to determine optimal timing for potential financing or sale.

Throughout his career, Mr. Matus has been involved in thousands of transactions valued at more than $3 billion with expertise spanning across retail, multifamily, hospitality, office, industrial, and land. Prior to joining Franklin Street, Mr. Matus ran Marcus and Millichap’s Fort Lauderdale office as the Vice President/Regional Manager of the company’s Real Estate Investment Services division. He was with Marcus and Millichap for more than 11 years progressing from Sales Associate to Senior Associate, Vice President/Regional Manager of Fort Lauderdale and Orlando, First Vice President of Investments, and as a Director of both the company’s National Retail Group and National Multi Housing Group. Throughout his career, he has acted as a mentor, manager, and trainer for hundreds of agents. Naturally driven, Mr. Matus has received several awards for his accomplishments including being named a 50 Under 40 professional by Real Estate Forum in 2014 and a 40 Under 40 professional in 2010 by the South Florida Business Journal. He received Franklin Street’s Sales Achievement Award in 2015 and is a repeat recipient of Marcus and Millichap’s National Achievement Award, a Top Ten Agent in Ft. Lauderdale, and Rookie of the Year. Highly active in the commercial real estate community, he serves as a member of the National Association of Office and Industrial Properties (NAIOP), Urban Land Institute (ULI), and International Council of Shopping Centers (ICSC). He is also a dedicated member of his community, volunteering and donating to the non-profits Push America and the Jorge Nation Foundation. Mr. Matus received his bachelor’s degree in business administration from the University of Florida and is a licensed real estate broker in the state of Florida.

Ryan Shear manages the development of a growing real estate portfolio with over $10B in assets, including all acquisitions, financing, construction, design, marketing, sales and operations. Ryan primarily focuses on new construction condo and multifamily high rises in urban cores, including Miami, New York, Orlando, Denver, Atlanta and more. Recent condo projects he’s spearheaded include Echo Aventura, Echo Brickell, Muse Sunny Isles, Sage Longboat Key Residences, E11EVEN Hotel & Residences and the Waldorf Astoria Hotel & Residences Miami. Recent multifamily projects include X Miami, Society Las Olas, Society Biscayne, Society Orlando and Society Wynwood. Ryan graduated with a BA in Business Administration from the Goizueta School of Business at Emory University in Atlanta.

Stephen Owens is a 30-plus year veteran of Swire Properties, Inc., one of the leading real estate developers in South Florida and a subsidiary of the Hong Kong-based Swire Properties Ltd, and has been in charge of U.S. operations since 1985. Prior to assuming his current role as President, Mr. Owens oversaw Swire’s commercial and residential investment portfolio totaling more than two million square feet.

Joseph Kavana is the Founder and CEO of K Group Holdings, Inc. As an active developer and investor in the real estate industry for more than 20 years, Mr. Kavana’s experience spans across different asset classes including land development, commercial/retail, multi-family and industrial. As the driving force and vision of what today has come to be known as Metropica – a premier mixed-use development in the heart of Sunrise – Mr. Kavana has from inception been fully involved with the project. Mr. Kavana is also involved in several other international real estate development projects including YOO Punta del Este, Uruguay and YOO Nordelta in Buenos Aires, Argentina. In the early 1990s, Mr. Kavana was one of the managing partners of Equinvest Marymont Ltd., a multi- family entity that, together with the Ibex Group – representing interests of the Bacardi family, acquired over 2,500 multifamily units in San Antonio, Texas. Mr. Kavana also bought and sold several industrial buildings. In 1980 Mr. Kavana founded Sagaz Industries, Inc., a manufacturing company with operations throughout the United States, Canada, Argentina, Mexico, the Far East and Italy. Sagaz was sold to Pennzoil in March 2000. Mr. Kavana was born in Uruguay in 1949 and has permanently lived in Miami, Florida since 1980. He studied Medicine in Montevideo’s School of Medicine. He has served as a member of the Board of Directors of the Greater Miami Jewish Federation and its Executive Committee. As the previous Chairman for AIPAC in Dade County, Florida, Mr. Kavana actively recruited members for this prestigious organization based in Washington, DC. He is also a member of the AIPAC’s Executive National Council in Washington D.C.

For nearly three decades, real estate industry veteran Louis Birdman has taken a leadership role in the development of over 70 residential projects, comprising more than 18,000 residential units nationwide.   Mr. Birdman has a significant background in property acquisitions, dispositions, entitlements, financing, planning, design, construction, sales and marketing. Mr. Birdman has been a principal investor and developer in numerous real estate developments projects throughout Florida and nationwide, including Las Vegas, Arizona, Colorado and Texas. He is also the founder and principal of Louis Birdman Architect, an architectural consulting practice that provides consulting services to developers of real estate in both related and unrelated entities. He has been a registered architect licensed in Florida since 1989 and has held architectural licenses in multiple jurisdictions in the United States, including Chicago, New York and Nevada. Mr. Birdman is currently the Co-Developer of One Thousand Museum by Zaha Hadid Architects, a 62-story, ultra-luxury high-rise condominium Tower in Miami, FL with 83 half-floor and full-floor residences. One Thousand Museum is currently under construction and scheduled for completion in mid-2018, slated to be Miami’s most iconic tower and the centerpiece of Miami’s Museum Park. Mr. Birdman is also the Co- Developer of The Diplomat Golf & Tennis Club, an iconic 130-acre, 1950’s Golf Resort in Hallandale Beach, FL that is currently being entitled for redevelopment. The redevelopment plans will include a redesign of the golf course, the renovation of the existing 60-room hotel, club, and banquet facilities with the planned construction of four new towers with a total 1,200 new hotel-condo units and residential condominium units. Mr. Birdman has most recently launched a unique commercial condominium concept, AutoHouse, a unique auto-centric development and private members-only social club that provides luxury storage and display for high-end and collectable vehicles.

Led by Principal Shahab S. Karmely, New York based KAR Properties is a real estate investment and development firm. With over 28 years of international real estate experience, Shahab S. Karmely has honed an impressive pedigree in transactional, managerial, and developmental disciplines. These, combined with an extensive background in fine arts and design, are the foundational elements of his development expertise and overall vision. As the founder of KAR Properties LLC, and through KAR and/or its affiliates, Mr. Karmely has acquired, repositioned, and monetized over 3 million square feet of office, luxury mixed-use, and industrial space in the US, Southeast Asia, and Europe. With offices in New York and Miami, KAR currently oversees the management of a core portfolio of assets and a development pipeline in excess of 5 million square feet. KAR has made a significant entry into the Miami market with acquisitions in excess of $200 million in established and emerging neighborhoods. The firm is currently developing 2000 Ocean in Hallandale Beach, a 38-story, a private residential enclave located in Hallandale Beach, Florida. In Downtown Miami, KAR Properties is also developing One River Point, a two-tower, 60-story development that will rise 800 feet above the Miami River. Mr. Karmely’s background as an owner/manager and developer gives him a unique perspective and invaluable insights in analyzing and implementing the appropriate strategies for a variety of asset classes. He champions innovative and inventive approaches in response to changing market conditions, trends, and new opportunities as is required in today’s dynamic real estate markets.

Karyl Argamasilla is an Of Counsel Attorney in Bilzin Sumberg's Real Estate Group. Karyl focuses her practice on structuring and executing large commercial real estate transactions. She has represented national and local developers, lenders, landlords, tenants, sellers and purchasers in engagements such as acquisition, disposition and operation of property, development, financing, loan restructuring, leasing, condominium documentation and general corporate matters. Projects include office buildings, multi-family, restaurants, shopping centers, hotels, aircrafts, schools, condominiums, mixed-use and lot developments. She prepares and registers condominiums, as well as conversions, with the Florida Division of Land Sales Condominiums and Mobile Homes and the U.S. Department of Housing and Urban Development, and handles compliance matters with both agencies.