EXECUTIVE SUMMARY

Marcus & Millichap and Global Investments Realty, as exclusive listing agents, are pleased to offer for sale Airport Villas, a Class B, 90-unit apartment complex located at 4325 and 4335 NW South Tamiami Canal Drive in the city of Miami, in Miami-Dade County, Florida. Airport Villas was constructed in 1972, and it sits on a 1.86 acre lot. The Property’s unit mix is comprised of 66 one-bedroom/one-bathroom units and 24 two-bedroom/one-bathroom units. Residents enjoy the security of a gated entrance, ample parking (109 spaces), central air-conditioning and heat in all units as well as patios or balconies. The Airport Villas offers residents resort style amenities including a swimming pool, fitness center, on-site laundry, tranquil green spaces, elevators, and an on-site management office.

The Property is located adjacent to the Miami International Airport, one of the largest employers in South Florida. This proper ty is currently operated as long term rentals but the location and zoning permits an owner to operate the property as both long-term and short-term rentals which would increase an investor’s return. Airport Villas has the potential to be the perfect place for tourists, pilots and flight crew who want a comfortable, private, and affordable place to stay for a short period of time.

Airport Villas has benefited from a series of renovations and capital improvements that include a new roof, new paint on the in terior corridors and exteriors of the building, and an update of the fitness center with brand new equipment, a remodeled pool area and lush landscaping.

This is an excellent opportunity for an investor to capitalize on a rare opportunity to acquire a fee simple asset so close to an international airport. There is also non-recourse debt that can be assumed with a 3.45 percent interest rate and interest only payments through July 2 024. The location and the property are irreplaceable. Airport Villas is being offered below replacement cost, and there is upside in rents through hands- on management. In addition, the current market conditions allow an investor to acquire very attractive financing which makes this opportunity even more appealing and increases the return on equity.

Investment Highlights

• Irreplaceable Location Adjacent to Miami International Airport

• Below Market, 3.45 Percent Assumable Debt Available

• Very Strong Rental Market in a Dense Infill Location

• Liberal Zoning Which Allows for a Number of Uses Including Short Term Rentals

• Gated Parking with Secured Entrances

• Class A Amenity Package Including Pool, Sundeck and Fitness Center

• Select Units Have Been Renovated

• Units Have Central Air-Conditioning & Heat and Patios or Balconies

• Property has the 40 Year Recertification, Railings and Roof Replaced in Approximately 2013

Property Tours

Qualified prospective purchasers will be given an opportunity to tour the Property with the listing team. To arrange a property tour, please contact Maria DiFiore by phone at (954) 245-3482 or by email at maria.difiore@marcusmillichap.com.

Offering Process

A Call for Offers Date will be announced to qualified prospective purchasers at a later date. Offers should be delivered to the office of Marcus & Millichap, attention Felipe J. Echarte and Evan P. Kristol, via email to maria.difiore@marcusmillichap.com. To facilitate analysis of offers, offerors are encouraged to provide information relative to funding sources, experience in owning similar properties, familiarity with the market, and any other information that is likely to reflect favorably on the Offeror’s ability to close the proposed transaction in a timely manner.

The Owner reserves the right to change the schedule at any time without notice or to remove the Property from the market. The Owner will consider only those proposals submitted at the prior invitation of the Owner or its Agent, Marcus & Millichap. The Owner reserves the right to negotiate with any party on an exclusive basis at any time. The Owner also reserves the unrestricted right to reject any and all proposals.

For further information, please contact:

FELIPE J. ECHARTE

SENIOR VICE PRESIDENT INVESTMENTS

Tel: (954) 245-3444

Felipe.Echarte@MarcusMillichap.com

LICENSE: FL SL696115

EVAN P. KRISTOL

EXECUTIVE MANAGING DIRECTOR INVESTMENTS

Tel: (954) 245-3459

Evan.Kristol@MarcusMillichap.com

LICENSE: FL SL640466

JOEL RODRIGUEZ

PRINCIPAL / BROKER - GLOBAL INVESTMENTS REALTY

Tel: (786) 285-7739 joel@glirealty.com

Office: 305.635.3005

235 NE 25th Street

Miami, FL 33137