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Executive Summary

Berkadia Hotels & Hospitality (“Berkadia”) has been exclusively engaged by Valcan Group (the “Developer”) to secure a buyer or joint venture partner for the fully approved, 30-story, 346-room Canopy & Embassy Suites dual branded hotel (the “Hotel” or “Development”) in Brickell, Miami’s fast growing financial district and home to most of South Florida’s banks, financial institutions, and law firms. The premium dual branded Hotel will consist of 135 Canopy keys and 211 Embassy Suites keys and offer a unique mix of amenities and common areas, including multiple restaurants, a rooftop bar and lounge, two pools, and fitness center. The shovel ready project boasts an irreplaceable location with excellent accessibility, visibility and walkability to Miami’s most prominent business, shopping, and dining destinations. The bustling and vibrant financial district is experiencing a surge in large-scale office, luxury condominium and mixed-use developments. The Hotel is within a short walk of major transformative projects currently under construction: One Southside Park is a 2.5 million-square-foot mixed-use development and urban park. One Brickell City Center and 830 Brickell are two class A+ office towers that have been attracting big name companies relocating to South Florida. And the River District a $1 billion 6-acre riverfront mixed-use development. Brickell City Center and Mary Brickell Village, located within a 10-minute walk from the Hotel site, contribute to the vibrant and cosmopolitan atmosphere of the Brickell neighborhood. They provide residents and visitors with a diverse mix of shopping, dining, and entertainment options, making them popular destinations for leisure and socializing. Furthermore, the site offers unparalleled accessibility to the broader Miami market via US-1 and the I-95. Miami International Airport, Port of Miami, Miami Beach, Wynwood, Coconut Grove and Coral Gables are all within a 15-minute drive from the Hotel site.

Development Overview

0.61 Acres | 26,693

346

135

211

Gym, Multiple Restaurants, Lobby Café, Rooftop Bar and Pool, Business Center, Fourth Floor Pool

3,328 SF

Site Area

Total Rooms

Canopy Rooms

Embassy Suites Rooms

Total Floors

Amenities

141

Parking Spaces

Meeting Space

Gross Square Footage

Brickell is a vibrant neighborhood located in the heart of downtown Miami, Florida. Known as the "Wall Street South," Brickell is a bustling financial district and a popular residential and commercial area. It is characterized by its impressive skyline, filled with sleek high-rise buildings and luxury condominiums. Brickell is home to numerous multinational corporations, financial institutions, and law firms, making it a major business hub. The neighborhood also offers a wide range of dining options, upscale shopping centers, and vibrant nightlife. With its proximity to the Miami River and Biscayne Bay, residents and visitors can enjoy beautiful waterfront views and access to recreational activities. Brickell's central location provides easy access to other popular areas in Miami, such as Miami Beach and Coconut Grove.

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. © 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.

Scott Wadler

Managing Director 786.646.2595 scott.wadler@berkadia.com

MICHAEL BASINSKI

Vice President Originations 561.609.4018 michael.basinski@berkadia.com

Financing

Kyle Stevenson

Managing Director 703.888.6578 kyle.stevenson@berkadia.com

John Testerman

Senior Director 540.255.2967 john.testerman@berkadia.com

Harry Mancera

Senior Financial Analyst 404.452.1110 harry.mancera@berkadia.com

Investment SALES

Rare Opportunity to develop in one of the fastest growing high barrier-to-entry markets in the Country

Premium dual branded with Hilton’s top performing upper-upscale flags programmed for optimized efficiency

Robust office market driven by in-market expansions and new-to-market tenants

Irreplaceable Brickell urban core location with unparalleled access and walkability

Proximity to Transformative Mixed-Use Developments

INVESTMENT HIGHLIGHTS

A prospective buyer or partner will be afforded the extraordinarily rare opportunity to develop two of Hilton’s best performing upper-upscale brands within the second largest international banking hub in the country and fast-growing urban market with rising popularity among investors, restaurant owners and entrepreneurs.

The Canopy and Embassy Suites hotel brands have been regarded as two of the most successful flags of the Hilton family. The dual branded nature of the Hotel offers a both the Hotel owner and guests a wide variety of benefits:

Miami has become a magnet for companies and talent across the U.S. The CBD and Brickell have seen a tremendous growth in asking rates. The friendly business environment, thriving restaurant scene, transit access, unbeatable weather and upcoming state-of-the-art office buildings are attracting professional service firms as well as growing industries such as fin-tech.

Located within Miami’s financial district and the most walkable upscale neighborhood in Miami, the Hotel will provide a diverse and expansive base of demand for a swift ramp to stabilization.

The Hotel will benefit from its ability to capitalize on substantial tailwinds of increased demand stemming from the completion of transformative mixed-use developments, including the adjacent 2.5M SF 1 Southside Park, the $1 billion 6-acre River District and One Brickell City Center, the massive 68 story 1.6M Class A+ Office building.

346 rooms with unique mix of amenities

1129 SW 3rd Ave. | Miami, FL

287,339 SF

Embassy Suites

Canopy

Embassy Suites

Canopy

Renderings and Design Inspirations

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The Location

Dual brand upper-upscale hotel development opportunity in Brickell Miami's fast growing financial district

The Hotel

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