Ft. Lauderdale State of the Market

John P. "Jack" Seiler was sworn in for his first term as Mayor of the City of Fort Lauderdale on March 17, 2009. He was reelected for a third three-year term in 2015. Prior to being elected Mayor, Seiler served eight years in the Florida House of Representatives. During his tenure as a State Representative, he chaired the Broward Legislative Delegation in 2007-2008 and was Vice Chair of the Delegation in 2006-2007.

Josh Procacci is a founding partner and Chief Investment Officer of IPCP and is responsible for acquisitions, transaction structuring, reviewing financial information and conducting due diligence activities on behalf of the Company. Prior to forming IPCP with Mr. Isaacson, Mr. Procacci was Vice President of Penn Florida Realty Advisors, LLC, the successor to Cypress Creek Capital, LLC where he held the same position. While at Penn Florida and Cypress Creek Mr. Procacci was instrumental in the acquisition of over $300 million of commercial real estate and in restructuring $265 million of debt to $135 million. Mr. Procacci grew up in Florida and started his real estate career as an Investment Analyst for LNR Partners in Miami Beach, Florida. His responsibilities included bond level financial modeling, valuation and risk profiling of existing CMBS multi-million dollar investments and preparing quarterly financial reports for senior management to assess the company’s non-investment grade tranche positions. Prior to LNR Partners, Mr. Procacci worked for Booz Allen Hamilton, a leading strategy and technology consulting firm, where he was responsible for the company’s treasury management and monitoring the company’s cash positions and investments. Mr. Procacci earned a Bachelor of Science degree in Finance from American University and a MBA from the University of Miami. He also holds a Florida Real Estate Broker’s license. About IP Capital Partners, LLC (“IPCP”) IPCP is a Florida based and Florida centric private real estate investment and fund management company with a singular focus to acquire deep-value oriented commercial real estate in Florida’s growth markets. IPCP currently owns and operates over 5.4 million square feet of office and industrial property in Florida. The Company is currently investing IPCP Florida Realty Value Fund II, capitalized to acquire $750 million in Florida.

Dev Motwani serves as President of Merrimac Ventures, a Fort Lauderdale based real estate firm that focuses on value-add investment and development opportunities. Property types owned and operated include hotels, condos, retail, office and rental apartments primarily in South Florida but also throughout the United States. Dev is also Founder and Managing Partner of Ramesh Properties, a distressed real estate investment fund focused on opportunistic investments in residential and commercial development sites throughout South Florida. He currently oversees nearly $750 million in development projects. Current projects include the Four Seasons Hotel and Private Residences, The Gale Boutique Hotel and Residences, as well as Las Olas Riverfront, all in the Fort Lauderdale area. Dev is Founder and Managing Partner of Chieftain Residential, a yield-oriented distressed residential fund purchasing single-family homes and residential land, primarily in the Southeast US and Texas. The fund aims to balance current income opportunities through the rental markets for its single family home inventory, while also targeting capital appreciation in single family homes and land as the US Residential Market continues to rebound. Prior to his current role Dev worked at Credit Suisse in New York City, where he first structured OTC Equity Derivative trades for the firm's largest corporate clients and then for the firm's largest hedge fund clients. Before that he worked in the White House and on the 2000 Gore/Lieberman Presidential Campaign. Dev plays an active role in the South Florida Community, through his involvement with numerous charities and business organizations, currently serving on the board of the Broward Center for the Performing Arts Foundation, Fort Lauderdale's Economic Development Advisory Board, and the Downtown Council. He was recently appointed to the Orange Bowl Host Committee. He previously served on the boards of the Riverwalk Trust, Greater Fort Lauderdale Chamber of Commerce, and Broward County's Small Business Advisory Board. Dev has served as Co-Chair for the Bonnet House's Annual Impressions Fundraiser, the Ghost Light Society's Annual Soiree, and the Jeb Bush Classic Beach Bash benefitting the Cystic Fibrosis Foundation. This year the Motwani family co-founded the Laughing Out Loud fundraiser benefitting the Scleroderma Foundation, which raised over $170,000 for the charity. Dev graduated from Duke University with a Bachelors of Science degree in Economics and Public Policy and from Columbia University's Masters of Science in Real Estate Development Program. He has also studied at the London School of Economics.

Nicole Shiman is Senior Vice President of Investments, leading our Florida portfolio and office. She brings extensive experience in acquisitions and dispositions, as well as portfolio oversight and management, to the investment team. Nicole previously served as Vice President at Miami-based 13th Floor Investments, where she was responsible for leading acquisition initiatives, new business procurement and capitalization efforts. She was actively involved in the ongoing oversight, development, management and disposition of 13th Floor’s and its affiliates’ real estate portfolios. Prior to her work with 13th Floor, Nicole spent many years with The Boston Consulting Group in their Toronto, New York and Miami offices. Nicole graduated from The Richard Ivey School of Business at the University of Western Ontario with a Bachelor’s in Business Administration and received her Master’s in Business Administration from Harvard Business School. Nicole sits on the ULI Southeast Florida/ Caribbean Advisory Board, she serves as a Board Member for The University of Miami School of Law LLM program, and serves as a founding Board Member of the Wynwood Yard, a culinary incubator and community space located in Wynwood, Florida.

Fueled by his innate creativity and armed with a diehard entrepreneurial spirit, Harvey Hernandez began his involvement in real estate development as a hands-on investor in the rapidly expanding South Florida market. With more than two decades in South Florida, he has observed first-hand the region’s tremendous capacity for change and progress. Holding firm to excellence from the forefront of the industry, Harvey continues to revitalize the high-end residential market by developing innovative projects that deliver the best in location, cutting- edge amenities, luxury finishes and forward-thinking design. Harvey entered the real estate industry following a successful foray scaling a technology startup that sold in year 2000. The sale provided the initial capital for the $260 million-dollar multifamily development firm, H&H Development Company -- a pivotal catalyst to Harvey’s career. These ventures paved the way for Harvey’s subsequent endeavors, giving him the necessary momentum to launch Newgard Development Group and NGD Homesharing LLC. In 2017, Harvey partnered with Airbnb to create Niido, the first and only residential brand designed to encourage and facilitate home sharing. The partnership includes multifamily developments that are tailor-made to optimize flexible living, with a suite of technology, services and amenities. The first Niido, powered by Airbnb, communities are open in Orlando and Nashville with more locations coming soon. Following Niido’s launch, in June of 2019, Harvey expanded his partnership with Airbnb to create yet another revolutionary new hospitality brand, Natiivo. Purposely designed, built and licensed for home sharing, Natiivo is the first brand to offer ownership with home sharing as an amenity. On the heels of the success of Natiivo Miami and Natiivo Austin, which both sold out before breaking ground, his latest brand LOFTY has debuted its first iteration in Brickell, Miami. Harvey’s other notable projects include Gale Boutique Hotel Fort Lauderdale, Gale Residences in Fort Lauderdale; One Flagler office building, Centro Condominium Miami and BrickellHouse.

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.

Jonathan S. Gelman is a Shareholder in the Fort Lauderdale office of Greenberg Traurig and a member of the firm’s Global Real Estate Practice. Jon focuses his practice on the sophisticated structuring, financing, acquisition and disposition of all asset classes of real estate. With nearly 25 years of experience, Jon counsels leading owners, investors, developers, lenders and operators in major transactions throughout Florida and nationally.

Chris Wren is the Executive Director of the Fort Lauderdale Downtown Development Authority with more than 30 years of leadership experience in economic development and urban planning. Since Mr. Wren’s appointment to lead the DDA in 2002, he has been instrumental in creating and implementing a platform to build a world class downtown. Projects brought to Downtown Fort Lauderdale under his leadership include: the Wave Streetcar, funding a new federal courthouse, bringing back the St. Patrick’s Day parade and festival, restructuring the Downtown Transportation Management Authority, visually improving blighted, empty lots through an Urban Oasis program, and implementing streetscape capital enhancements and utility box wraps. Mr. Wren is currently embarking on exciting new initiatives by the DDA focusing on parks and open space, using roads smarter, developing underutilized sites, and addressing security, lighting and homelessness to continue to build a world class downtown.

Patrick Campbell serves as a Vice President for Related Group. He is responsible for all phases of development on the projects in which he is involved. With 20 years of experience in development and construction, his responsibilities have focused on projects in northern Miami-Dade and Broward counties. Projects he has overseen include Aquazul, Aventura Marina Towers One and Two, Trump Hollywood, and New River Yacht Club in Fort Lauderdale. A Registered Architect in the State of Florida, Mr. Campbell holds a Professional Bachelor’s Degree in Architecture from the University of Miami and is active in South Florida’s architectural community. He is a member of the American Institute of Architects, Miami Chapter.

Alberto “Al” Fernandez is widely recognized as one of the most impartial and assiduous executives in the South Florida Construction Market. He began his career in 1981 as the General Contractor, Qualifying Agent and Vice President of Construction for ANF Construction, as the company was originally known. He held this position until 1992 when he was named President of ANF Group, Inc. As a founding member of the company, Al has been at the forefront producing the quality of work ANF Group, Inc. has built their reputation on. In addition to his role as President, Al is actively involved with several associations in the local community. He serves on the Board for The Memorial Healthcare System Foundation / Joe DiMaggio Children’s Hospital Foundation, and the Susie and Alan B. Levan NSU Ambassadors Board at Nova Southeastern University. Al is also a member of the Construction Association of South Florida, Latin Builders Association, ABC Florida East Coast and an alternate on the Board of Rules and Appeals of Broward County.

Dan McCawley focuses his practice on real estate matters. He has broad experience in the sale, purchase and leasing of commercial and residential properties including shopping centers, office buildings, industrial warehouses, apartment complexes, restaurants, golf courses, hotel projects and undeveloped land. His practice also includes acting as lending counsel for several banks, structuring joint ventures and partnerships and the negotiation of construction contracts and land use agreements. Dan's representative experience includes loan workouts, lease workouts, distressed real estate investments, and the acquisition and disposition of distressed loan portfolios. Dan represents several "serial" entrepreneurs and technology clients and assists them with their general legal issues. He also represents several restaurant chains regarding all their leases in the United States. Dan represents several distressed asset funds acquiring distressed loan portfolios, bulk condo purchases, REO and other distressed real estate.

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.

As the principal of Premier Developers, Bradley Deckelbaum is the fourth generation of his real estate developer family, continuing a 100-year legacy from Canada to Florida. Over the years Premier Developers has built more than 2,000 homes in South Florida, with a value in excess of $800 million. Some of the best-known recent communities Premier has developed include Bellaria in Palm Beach; Renaissance in Hollywood; Le Rive on the Intracoastal in Fort Lauderdale and now RIVA. RIVA is the first luxury condominium located on Fort Lauderdale’s picturesque Middle River. Comprised of 100 beautifully appointed, spacious residences, the 15-story, waterfront building is distinguished by its modern, curvi-linear architecture and panoramic views of the ocean and downtown Fort Lauderdale skyline. Construction is underway with a scheduled opening in mid-2017. A longtime resident of Fort Lauderdale, Deckelbaum is a graduate of Pine Crest School. He earned a J.D. from Georgetown University Law Center and spent several years practicing law at a prestigious New York law firm before joining the family business.

Evan Schlecker is the Southeast Regional Vice President for The Morgan Group. MORGAN develops, constructs, and manages Class A apartment communities across the country. Locally Evan has led the development of Edge Flagler Village, Pearl Dadeland, and others.

Peggy Fucci, an acclaimed real estate strategist and broker since 1999, brings expertise to the luxury real estate industry. Throughout her career, Peggy has overseen the management and supervision of luxury condominium sales, investor relations, human resources and public relations for some of the largest real estate companies in the United States. Peggy’s market knowledge and reputation have also led to consulting for some of the largest developers nationwide and abroad, while managing properties all over the U.S. Peggy specializes in the international market and over the past two years, she has been instrumental in attracting foreign brokers and buyers to invest in the U.S. real estate market by investing her time to visit over 16 international cities throughout 11 countries. OneWorld Properties, was started by Peggy in 2008 with the goal of creating a new kind of brokerage with honesty, drive and enthusiasm that would deliver fresh and innovative ideas during the time of the failed real estate market. OneWorld Properties became the preferred broker and consultant for many financial institutions, including TotalBank, BankUnited, SunTrust, Chase Bank and Green River Capital among others, with whom OneWorld Properties successfully sold $50 million in REO assets during an 18-month period. In addition, OneWorld Properties consulted with these financial institutions to successfully reposition a select number of large-scale projects in Orlando, Tampa, Jacksonville and South Florida. Before starting OneWorld Properties, Peggy began her real estate career with WCI Communities, at the time the largest publicly-traded hospitality, residential and amenity developer in Florida, where she managed properties for over six years. Peggy’s innate ability to translate global initiatives into effective local marketing programs proved extremely beneficial for many of WCI’s properties including BellaMare, One Bal Harbour, Mosaic and Plaza at Oceanside. Peggy has also worked with Turnberry, Ltd. on several luxury properties, including The Residences at Atlantis in the Bahamas. In 2010, Peggy and OneWorld Properties were hand-selected by ST Residential to head the sales and marketing strategies for its nationwide portfolio. ST Residential is a public-private consortium strengthened by the Federal Deposit Insurance Corporation (FDIC), and a consortium comprised of a select group of investors: Starwood Capital, TPG Capital, WLR LeFrak and Perry Capital, the companies behind brands such as W Hotels, St. Regis, Ducati and Neiman Marcus. In 2009, ST Residential took over the assets of Corus Bank, which went bankrupt, consisting of a portfolio of over 100 properties throughout the country in an the effort to stabilize the residential real estate market with an unmatched level of detail to design, amenities and services. As Senior Vice President and Director of Sales and Marketing for ST Residential, Peggy led the creation of innovative sales and marketing initiatives for over 40 properties in its nationwide portfolio with properties in Houston, Atlanta, Las Vegas and South Florida in projects like Paramount Bay in Miami, Mint at Riverfront, Artécity in Miami Beach and Infinity in Brickell. In an unprecedented effort and with Peggy’s leadership, ST Residential, sold more than $4 billion and 10,000 units over three years, helping to restore confidence in the real estate market. Peggy has always had a passion for development sales and has honed her sales and marketing skills while awaiting the upturn in the economy. In 2009, OneWorld Properties was awarded the sales and marketing efforts for Plaza at Oceanside, followed by Artécity on Miami Beach and Dolcevita on Singer Island, together totalling over $200 million in sales. More recently, OneWorld Properties has been awarded the exclusive sales and marketing of various preconstruction projects to its portfolio totalling a sellout of over $3 billion. Those properties include PARAMOUNT Fort Lauderdale Beach, the only residential building to be break ground on the strip in over a decade, Brickell Ten, urban luxury residences in the heart of Brickell, and PARAMOUNT Miami Worldcenter, the signature residential tower for the second-largest master planned community in the United States. OneWorld Properties has sold and closed over 2,500 units over the past two years accounting for $2.5 billion in sales. Peggy has been recognized for her creative marketing and sales strategies that have helped revive the South Florida real estate market. Peggy and her team strive to provide accurate and reliable market studies as well as effective sales and . marketing strategies while paying close attention to detail. Peggy resides in Coral Ridge with her husband, Rick Fucci, three children, Monica, Jake and Siena, and her Yorkie, Sofi. Peggy’s passions away from work include traveling, playing tennis and spending time with her family. Peggy has lived in Broward County for over ten years and is involved in the local community. She is a Board Member of Miami Bridge, Birch State Park and Broward Workshop, and is a Trustee for the Greater Fort Lauderdale Chamber of Commerce. She previously served as a Trustee for the Charitable Foundation of The Realtor Association of Greater Fort Lauderdale. Peggy has been honored by the South Florida Business Journal as one of their “40 Under 40” and “Power Leades in Real Estate,” as well as a “Top Workplace Professional” by the Sun-Sentinel for her ongoing professional and philanthropic leadership.

Robert L. Shapiro is the founder and President of Master Development, Inc. Organized in 2001, Master Development focuses on the acquisition, design, development and redevelopment of retail and mixed-use projects throughout South Florida. Since 1986, Bob, both individually and with joint venture partners, has been involved in the acquisition and development of over 7 million square feet of retail space in more than 30 separate properties. Each of these properties were successfully developed, completed and sold primarily to institutional investors. In 2021, Bob partnered with Stuart Meyers, the principal of The Meyers Group. Mr. Meyers has more than 40 years of experience as a residential development specialist in both Florida and Texas. Bob was named Vice Chairman of The Meyers Group and President of the newly formed Master Meyers Development, a joint venture between Master Development and The Meyers Group. That company is designed to be a diversified real estate development company which will acquire land and create and develop mixed-use projects throughout Florida. Bob was one of the original partners in the entity that developed Dania Pointe beginning in 2014. Dania Pointe is a 102-acre mixed use development in Dania Beach, Florida, just south of the Fort Lauderdale Airport. The property was developed in partnership with Kimco Realty, Inc., a NYSE-listed REIT. Comprising 2.5 million square feet of retail, residential, office, hotel, restaurant and entertainment components, Dania Pointe is one of the largest mixed-use destinations in South Florida. Kimco acquired Bob’s interest in the property in 2020. Bob has been a panelist regarding commercial and mixed-use developments at seminars of the International Council of Shopping Centers, the Florida Redevelopment Association, and the Florida Board of Realtors. He has also been a guest lecturer at Nova Southeastern University Graduate Real Estate program. In both 2015 and 2016, the South Florida Business Journal recognized Bob as one of the "Top 100 Power Leaders in Real Estate" in South Florida. Bob is a graduate of the Wharton School at the University of Pennsylvania, a JD law degree from the University of Connecticut Law School, and a Master of Laws in Taxation from Georgetown University. A resident of Miami since 1971, he practiced law at large Miami law firms. He is married to Janet Shapiro and has three children and five grandchildren.

Utilizing over 25 years of experience in the burgeoning telecommunications/cable industry, Daniel O’Connell has stood at the forefront of telecom expansion, beginning his career at Ameritech Corporation in 1989 when, at the time, it was one of the largest telecommunications companies in the US. In 1995, he continued his career in the global telecom market at MCI in Mexico, where Mr. O’Connell represented MCI’s joint venture, Avantel, in negotiating the interconnection agreements with incumbent provider Telmex, and through lobbying at the Mexican Federal Commission of Telecommunications or COFETEL for favorable market entry rules and regulations. This venture led to a similar role representing MCI as it moved into Brazil, and established long-term, manageable telecom policies, practices, and competitive market structures. In 2000, Mr. O’Connell joined Verizon, heading the national sales organization for multi- family housing and the roll-out of Fiber-to- the-Home solutions with the FiOS program beginning in 2004. This experience garnered senior executive responsibilities at both Comcast and Time Warner Cable, where he cultivated these MSO’s respective business development groups for MDUs, student housing, senior housing, master- planned communities and other residential vertical markets. Mr. O’Connell also served as the President of the Fiber to the Home Council, a non-profit organization with a mission to expand next generation fiber optic networks in support of education, health care, and quality of life improvements in underserved communities. Today, Daniel O’Connell is the Vice President of National Sales for Hotwire Communications, a telecom company specializing in fiber-to- the-home technology. During his tenure, he has more than doubled the number of communities under contract in his markets.