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COMMERCIAL REAL ESTATE OUTLOOK CONFERENCE - 2019 CCIM "Evolving Trends in CRE: Can It Be Different This Time?" - Florida CCIM ...
2019 CCIM
 COMMERCIAL REAL ESTATE
  OUTLOOK CONFERENCE
      Wednesday, January 16, 2019
      Coral Gables Country Club

“Evolving Trends in CRE:
  Can It Be Different This Time?”
COMMERCIAL REAL ESTATE OUTLOOK CONFERENCE - 2019 CCIM "Evolving Trends in CRE: Can It Be Different This Time?" - Florida CCIM ...
WELCOME FROM OUR SPONSORS
      Grand Sponsor

     Platinum Sponsor

       Gold Sponsors

      Silver Sponsors

      Bronze Sponsors
COMMERCIAL REAL ESTATE OUTLOOK CONFERENCE - 2019 CCIM "Evolving Trends in CRE: Can It Be Different This Time?" - Florida CCIM ...
Florida CCIM Chapter
                  Miami-Dade/Monroe District

        2019 Commercial Real Estate Outlook Conference

                        Table of Contents

Today’s Program                                                        5

Speakers’ Biographies                                       6, 7, 8

Panel Speakers - Development Trends / Opportunity Zones                9

2019 CCIM Florida Chapter Education Schedule                        11

CCIM Miami-Dade/Monroe District Board                               13

CCIM Course Scholarship Program                                     16

CCIM Miami-Dade/Monroe District Membership            18, 19, 20

Important PPT Slides
2019 Economic Forecast – K.C. Conway                                24
Industrial Market – Stephanie A. Rodriguez                          26

Retail Market – Josh Rodstein                                       28
Capital Market – Andrea Molina                                      30

Multifamily Market – Calum Weaver                                   32
Office Market – Maria G. Juncadella, SIOR, CCIM, MBA                34

                                             3   2019 Commercial Real Estate Outlook Conference
COMMERCIAL REAL ESTATE OUTLOOK CONFERENCE - 2019 CCIM "Evolving Trends in CRE: Can It Be Different This Time?" - Florida CCIM ...
2019 Commercial Real Estate Outlook Conference   4
COMMERCIAL REAL ESTATE OUTLOOK CONFERENCE - 2019 CCIM "Evolving Trends in CRE: Can It Be Different This Time?" - Florida CCIM ...
2019 CCIM Commercial Real Estate
                                     Outlook Conference Program
                                     Mitash Kripalani, CCIM, President of Miami-Dade / Monroe District
Registration
                                     Colliers International South Florida, LLC

Buffet Breakfast                     Coral Gables Country Club

Presentation of Colors
Pledge of Allegiance                 Coral Gables High School JROTC Cadets
National Anthem
Welcome Announcements                Maria Agon McCarthy, CCIM, Vice President CCIM Miami District, Comreal

Sponsor Recognition                  Mitash Kripalani, CCIM, President of Miami-Dade / Monroe District, Colliers
                                     International South Florida, LLC

Grand Sponsor Welcome                Gary Fitzgerald EVP , City National Bank

Platinum Sponsor Welcome             Bill Papagno, Hunt Companies

Host Introductions                   Stephen Rigl, CCIM, Immediate Past President, Binswanger-Gateway Partnership

Introduction of Keynote Speaker      Eddie Blanton, CCIM, President Elect for CCIM Institute (National) - Tradd
                                     Commercial, Charlotte, NC

                                     K.C. Conway, MAI, CRE, CCIM Institute Chief Economist and
2019 Economy Forecast                Director of Research and Corporate Engagement at the Alabama Center for Real
                                     Estate (ACRE)

Industrial Market                    Stephanie Rodriguez, Duke Realty

Retail Market                        Josh Rodstein, NAI Miami

BREAK                                Networking

Capital Market                       Andrea Molina, Aztec Group
Multifamily Market                   Calum Weaver, Cushman & Wakefield
Office Market                        Maria Juncadella, Fairchild Partners
BREAK                                Networking
Panel Discussion                     Louis P. Archambault, Saul Ewing Arnstein & Lehr LLP , Moderator

New Development Trends               Kobi Karp, KOBI KARP Architecture & Interior Design
in Miami                             Gerard Yetming , Colliers International
                                     Ryan Shear, Property Markets Group
Opportunity Zones                    Adam Yormack, Escalante Yormack Law

                                     Mitash Kripalani, CCIM, President of Miami-Dade / Monroe District,
Closing Remarks/Raffle               Colliers International South Florida, LLC

                                     Malbelys Gonzalez, CCIM Miami District Secretary, BGI Capital

                                                                                5     2019 Commercial Real Estate Outlook Conference
COMMERCIAL REAL ESTATE OUTLOOK CONFERENCE - 2019 CCIM "Evolving Trends in CRE: Can It Be Different This Time?" - Florida CCIM ...
TODAY’S SPEAKERS
                          Stephen R. Rigl, CCIM, SIOR
                          Host
                     Stephen R. Rigl, SIOR, CCIM is Senior Director at Binswanger-Gateway Partnership and has
                     been active in the commercial real estate industry since 1984. He is currently Vice President of
                     Finance for the Florida CCIM Chapter and immediate past president of Miami Dade/Monroe
                     CCIM district. Mr. Rigl is the chair of the 2019 CCIM Commercial Real Estate Outlook
                     Conference and was for the 2018 Outlook Conference as well.
                     His real estate career experience includes numerous office lease transactions on behalf of both
                     property owners and tenants, investment property sales and purchases for clients including
industrial and multifamily properties, as well has holding ownership interests in various real estate projects.
In addition to holding the CCIM designation, Mr. Rigl holds the SIOR designation from the Society of Industrial
and Office Realtors. He is currently serving on the Board of Governors for Miami Commercial, the commercial
real estate section of the Miami Association of Realtors and is a mentor for the Florida International University
Alumni Association.

                          Mitash Kripalani, CCIM
                          Co-Host
                    An active commercial real estate professional and vice president of Colliers International
                    South Florida, Mitash Kripalani, CCIM serves as the 2019 President of the Miami Dade/
                    Monroe District of the Florida CCIM Chapter. Kripalani has been a member of the CCIM
                    chapter since 2014 and has been actively involved on the Board, also previously serving as
                    Education Chairman for the Miami Dade district.
                    As a Vice President in the Miami office of Colliers International South Florida. A key member
                    of Colliers International South Florida’s capital markets team, Kripalani brings more than
a decade of industry experience. At Colliers, his team services the core South Florida markets, specializing in
capital markets with a focus on multifamily, land deals and investment sales.

                          K.C. Conway, MAI, CRE
                          2019 Economy Forecast
                    CCIM Institute Chief Economist Kiernan “K.C.” Conway is the director of research and
                    corporate engagement at the Alabama Center for Real Estate (ACRE) housed within the
                    University of Alabama’s Culverhouse College of Commerce. Conway is a frequent speaker for
                    the Federal Reserve, FDIC, FHLB, state bank commissioners, academic groups, professional
                    organizations, and industry associations. He previously served as chief economist for Colliers
                    International – US. In addition to being a frequent lecturer at international conferences,
                    Conway has consulted with major governmental agencies, most notably briefing former
Federal Reserve Chairman Ben Bernanke and the Board of Governors on the burgeoning subprime lending and
housing crisis and its impact on the commercial real estate industry.

    2019 Commercial Real Estate Outlook Conference   6
COMMERCIAL REAL ESTATE OUTLOOK CONFERENCE - 2019 CCIM "Evolving Trends in CRE: Can It Be Different This Time?" - Florida CCIM ...
TODAY’S SPEAKERS
                    Stephanie A. Rodriguez
                    Industrial Market
                   As Vice President of Leasing, Stephanie is responsible for leasing 7.5 million square feet of
                   industrial properties in Miami-Dade, Broward and Palm Beach counties. Prior to her current
                   position, Stephanie spent three years as Vice President of Asset Management and Customer
                   Service, responsible for the overall operation of the company’s entire South Florida portfolio,
                   including asset management, supervision of personnel, communication, and client retention
                   functions.
                   Prior to joining Duke Realty, Stephanie was Real Estate Manager and Associate Director for CB
Richard Ellis and Property Manager for Trammell Crow, Glenborough Realty Trust, and Washington Real Estate
Investment Trust.

                    Josh Rodstein
                    Retail Market
                    Josh has over 30 years of experience in commercial real estate. His areas of concentration
                    is multi-fold; he specializes in the leasing, sales, and development of retail and office
                    properties. Representing local and national property owners as their Landlord representative
                    or representing national or regional tenants as their exclusive broker selecting new locations
                    is the basis of Josh’s commercial real estate experience. He has been involved in the sale of
                    developed retail properties and office buildings, as well as, been involved with over 2,000,000
                    square feet of commercial transactions.

                    Andrea Molina
                    Capital Market
                     Andrea Molina is a Director at Aztec Group, a boutique firm specializing in Investment
                     Banking for the Real Estate industry. Molina works closely with her clients to provide
                     strategic capital solutions for acquisitions, redevelopment, construction, refinance, joint
                     ventures, and programmatic partnerships. Molina brings over a decade of commercial real
                     estate experience to the Aztec Group team. Her clients include emerging sponsors of private
                     real estate as well as well-seasoned owner/operator/developer teams seeking recapitalization
                     and access to programmatic capital.
Ms. Molina most recently served as a Director at a major South Florida based institution with a portfolio in
excess of $1 billion where she was responsible for leading all financing and equity executions, as well as portfolio
oversight including acquisitions, dispositions, and recapitalization initiatives. Prior to that, Molina was a Senior
Analyst with CBRE’s National Retail Partners team based in Miami, where she underwrote the investment sale of
over 60 commercial properties, ranging in transaction size from $6 million to $425 million.

        The PowerPoints from today’s presentations will be available
            on the CCIM Miami-Dade/Monroe District website at
                   www.flccim.com on Monday morning.

                                                                             7      2019 Commercial Real Estate Outlook Conference
COMMERCIAL REAL ESTATE OUTLOOK CONFERENCE - 2019 CCIM "Evolving Trends in CRE: Can It Be Different This Time?" - Florida CCIM ...
TODAY’S SPEAKERS
                          Calum Weaver
                          Multifamily Market
                    Calum is an Executive Managing Director for Cushman & Wakefield’s Multifamily Group in
                    Florida. He leads the firms private capital group which is a team dedicated to serving the needs
                    of private capital investors throughout South Florida. Calum has sold over 120 apartment
                    properties totalling over $1 billion on behalf of his clients. Transaction experience includes
                    all multifamily asset classes, tax-exempt bond deals, fractured condominiums, and land sales.
                    Calum is part of a 15 person team that provides a fully integrated platform for selling and
                    financing multifamily properties. Based in Miami and Ft. Lauderdale, the Cushman &
Wakefield team has completed in excess of $20 billion in transactions, representing over 900 apartment buildings
and 250,000 units throughout South Florida. The Cushman & Wakefield Multifamily team is consistently ranked
#1 in multifamily sales in South Florida.

                          Maria G. Juncadella, SIOR, CCIM, MBA
                          Office Market
                      Maria Juncadella is Managing Principal of Fairchild Partners, one of South Florida’s top-
                      rated commercial real estate firms. As co-qualifying broker, she has been involved in all
                      aspects of management and brokerage activities since 2005 when she and her husband,
                      Jose I. Juncadella, founded the firm. As a real estate advisor, Maria specializes in the sale and
                      leasing of commercial properties in Miami-Dade’s most active submarkets.
                      In 2016, Maria spearheaded over ten million dollars in lease transactions, accounting for
                      74,000 of the 600,000 sq. ft. Downtown Doral office park. She participated in the broker
team that achieved a record sale price on a two-acre parcel in Miami’s Edgewater district. As lead broker at five-
building Kendall Summit, she has leased 174,000 sq. ft. and achieved a 33% rate increase during the three years
Fairchild has had the listing. In 2015, Maria had an active role in Baptist Health South Florida’s land purchase for
a build-to-suit distribution center.
Maria is actively involved in multiple office and medical office lease transactions in Coconut Grove, Coral Gables,
South Miami, Kendall and Doral. She represents several new-to-market retail tenants.
Maria was 2016 President of the Realtors Commercial Alliance (RCA Miami); its membership reached 2,000-
plus commercial agents under her leadership. She has served on the Miami Association of Realtors’ Board of
Governors since 2013.

             5 DRAWINGS!!!
              At the conclusion of today’s conference, there will be five drawings to give away:

                               FIVE $100 Gift Cards      You must be present to win!

                                                         GOOD LUCK!!!
                           (Speakers, vendors and members of the CCIM Miami Board of Directors are not eligible.)

    2019 Commercial Real Estate Outlook Conference   8
COMMERCIAL REAL ESTATE OUTLOOK CONFERENCE - 2019 CCIM "Evolving Trends in CRE: Can It Be Different This Time?" - Florida CCIM ...
PANEL DISCUSSION
   NEW DEVELOPMENT TRENDS
           IN MIAMI

Louis P. Archambault         Kobi Karp             Gerald Yetming                   Ryan Shear
 Saul Ewing Arnstein &       KOBI KARP                 Colliers                 Property Markets
       Lehr LLP             Architecture &           International                   Group
       Moderator            Interior Design

              OPPORTUNITY ZONES
The Opportunity Zones program provides a tax incentive for investors to re-invest their
unrealized captial gains in Opportunity Funds that are dedicated to investing into Opportunity
   Zones. About 8,700 Opportunity Zones have been indentified throughout the country.

                                       Adam Yormak
                                           Partner
                                   Escalante Yormack Law

                                                               9     2019 Commercial Real Estate Outlook Conference
COMMERCIAL REAL ESTATE OUTLOOK CONFERENCE - 2019 CCIM "Evolving Trends in CRE: Can It Be Different This Time?" - Florida CCIM ...
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2019 Commercial Real Estate Outlook Conference   10
2019 Education Schedule
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Jan. 15-18                    CI-101        Southwest                         Naples

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Feb. 25-29                    CI-103        Central                           Orlando

Mar. 11-14                    CI-104        Broward                           NSU

Mar. 18-21                    CI-101        Panhandle                         Pensacola

Apr. 15-18                    CI-101        West                              Tampa

May 6-9                       CI-101        Miami-Dade                        Miami

Jun. 3-6                      CI-104        Southwest                         Naples

Sept. 9-12                    CI-103        East                              Palm Beach

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Oct. 22-25                    CI-104        West                              Tampa

Nov. 4-7                      CI-103        Miami-Dade                        Miami

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                                                                      11        2019 Commercial Real Estate Outlook Conference
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2019 Commercial Real Estate Outlook Conference   12
Florida CCIM Miami-Dade / Monroe District
                                              2019 Board of Directors

   Mitash Kripalani               Maria Agon McCarthy          Malbelys Gonzalez                 Michael D Hinton                         Stephen R. Rigl
        CCIM                             CCIM                      MSIRE                             CCIM                                     CCIM
         President                     Vice President                Secretary                            Treasurer                          Past President
   Colliers International         ComReal Miami-Gables, LLC.        BGI Capital                      Apex Capital Realty                 Binswanger-Gareway
   South Florida, LLC                  305.775.0982               786.496.5685                       305.970.0262                            Partnership
     786.271.5598                 magonmccarthy@comreal.com     mgonzalez@bgicg.com           michael@apexcapitalrealty.com                 305.546.6933
Mitash.kripalani@colliers.com                                                                                                            srigl@gatewaycoc.com

             Louis P. Archambault, Esq.                           Jorge Napoles, CCIM                                         Edward Schmidt, CCIM
             Arnstein & Lehr, LLP                                 Sperry Commercial Global Affiliates                         NAI Miami
             305.428.4510                                         786.258.3127                                                786.260.0401
             lpa@arnstein.com                                     jorge.napoles@sperrycga.com                                 eschmidt@naimiami.com

             Ed L. Boen, CCIM                                     Andres Navarrete                                            Jose Maria Serrano, CCIM
             Kerdyk Real Estate                                   Aboslut Financial Resources                                 New Miami Realty
             305.799.6693                                         786.439.8921                                                305.635.5000
             EdLBoen@gmail.com                                    Andy@absolutfinancial.com                                   jserrano@newmiamirealty.com

             John Dohm, CCIM                                      Omar Ojeda                                                  Doris Suttin
             Infinity Commercial Real Estate/                     Professional Bank                                           doris b. suttin realty, inc.
             Florida Transatlantic Holdings, LLC.                 786.483.1742                                                305.308.7061
             954.557.3646                                         oojeda@professionalbankfl.com                               DBSuttin98@gmail.com
             john@jdohm.com

                                                                  Elias G. Patsalos, CCIM                                     Yulia Vargas
             Isabel Fine, CCIM
                                                                  Casal Group                                                 VETA Group | AG Commercial
             Real Miami Commercial Real Estate, LLC
                                                                  305.804.9154                                                Real Estate Advisors
             305.785.4758
                                                                  epatsalos@casal.com                                         786.780.3344
             isabel@realmiamicommercial.com
                                                                                                                              yulia@veta.group

             Simona Kogan                                         Carlos Rodriguez Jr.                                        Paul L. White, CCIM
             Finite Real Estate Corporation                       Waronker & Rosen, Inc.                                      KW Commercial
             954.647.0910                                         786.449.4670                                                305.270.0710
             simona@finiterealestate.com                          crodriguezjr@outlook.com                                    paulwhite@plwa.biz

             Jonathan C. Lay CCIM, MSIRE, MSF                     Frank Rodriguez Melo, CCIM                                  Joshua Young, Esq.
             Fairchild Partners / Commercial                      Cedano Real Estate                                          Raisal
             Real Estate Services                                 305.814.0137                                                305.505.5079
             786.390.5927                                         melo@cedanocre.com                                          josh@raisal.com
             jlay@fairchildpartners.com

             John C. Lonardo, CCIM                                Rafael Romero, CCIM                                         Danny Zelonker
             ComReal Miami - Gables, LLC                          JLL                                                         Real Miami Commercial Real Estate
             305.213.4050                                         305.767.5294                                                305.542.0189
             jlonardo@comreal.com                                 rromerore@gmail.com                                         danny@realmiamicommercial.com

             Maruta (Marti) Mang, SVP                             Britt J. Rosen, CCIM
             City National Bank                                   Brittex Appraisal Services, Inc.
             305.476.6272                                         305.663.7334
             Maruta.Mang@citynational.com                         britt@brittexusa.com

                                                                                                     13           2019 Commercial Real Estate Outlook Conference
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2019 Commercial Real Estate Outlook Conference   14
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CCIM Core Course Scholarship Program
                                              FLORIDA CCIM CHAPTER

The Florida CCIM Chapter believes strongly in the value of the CCIM designation.
Granting scholarships assists those qualified to start, or continue the CCIM program.

          The CCIM Florida Chapter and Miami-Dade/Monroe District offers the following
          scholarships for any CI Core Course, CI101, CI102, CI103, CI104, and may be
          attended at any location in Florida or the U.S.

   1. CCIM Education Foundation Scholarship – Paul L. White Endowed Scholarship:
       $1,000, one per year
   2. Florida Chapter Course Scholarship: $1,000, one per year
   3. Bob Ward Scholarship: $1,000 for any CI Core Course, one per year
   4. Cynthia Shelton Scholarship: $1,000 for CI103 only, one per year
   5. Miami-Dade/Monroe District Scholarship: $500 each, three per year

The Florida Chapter and its District Award Scholarships to high caliber, qualified
individuals in the commercial real estate profession who:

   A. Will benefit from the CCIM education
   B. Are active members of the State Chapter (through the District)
   C. Will continue the CCIM education which will give them most of the requirements
       needed to achieve the prestigious CCIM designation.

       Go to CCIM.COM to see the 2019 course descriptions and scheduled offerings

                                   FOR FURTHER INFORMATION, CONTACT:
                                                         John C. Lonardo, CCIM
                                  305.213.4050 or e-mail at: jlonardo@comreal.com

   2019 Commercial Real Estate Outlook Conference   16
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2000 ATTO R N E Y S | 38 LO CAT I O N S WO R L DW I D E˚ | 7 O F F I C E S I N F LO R I DA
Greenberg Traurig is a service mark and trade name of Greenberg Traurig, LLP and Greenberg
Traurig, P.A. ©2019 Greenberg Traurig, P.A. Attorneys at Law. All rights reserved. °These numbers
are subject to fluctuation.                                                                 31792

                                                                                                    The
                                                                                                    Power
                                                                                                    of the Pin

                                                                                                       17   2019 Commercial Real Estate Outlook Conference
Florida CCIM Miami-Dade / Monroe District
                                        Membership List
   Display Name                                       Company                                     City
   Maria Agon McCarthy, CCIM                          ComReal Miami-Gables, LLC.                  Coral Gables
   Mark Alexander, CCIM                               Medical Office Brokerage                    Miami
   Rolando Alvarez, CCIM                              Coldwell Banker Commercial NRT              Coral Gables
   David Amiel, CCIM                                  Invest Capital Group                        Aventura
   Juan V. Antunez, CCIM                              The Keyes Company                           Miami
   Clara E. Arango                                    ACE International Realty                    Miami
   Louis Paul Archambault                             Saul, Ewing, Arnstein & Lehr, LLP           Miami
   Kenneth Baboun                                     BGI Capital                                 Miami
   David G. Baitinger                                 Apex Capital Real Estate, LLC               Hialeah
   Kirenia Balan                                      Balan Realty, Inc.                          Miami
   Justin Barth                                       Windsor Realty Partners                     Miami
   Robert Barthelmess                                 BGI Capital                                 Miami
   Lisette Beraja                                     Magasi, LLC                                 Miami
   Thomas J. Blazejack, CCIM, MAI                     Blazejack & Company                         Pinecrest
   Ed L. Boen, CCIM                                   Kerdyk Real Estate                          Coral Gables
   Bette Brown                                        Centerstate Bank, NA                        Homestead
   Brian T. Carter                                    Douglas Elliman Commercial                  Miami
   Henry Castelo                                      Keller Williams Realty                      Miami
   Lea Cerdido, CMP                                   Corevents                                   Coral Gables
   Jose Cestero                                       Valbridge Property Advisors                 Coral Gables
   Jacqueline Cruz-Bustillo                           TotalBank                                   Miami
   Salvatore J. Davide                                Davide Realty, Inc.                         Miami
   Ariel O. Diaz                                      Trajan Investments, Inc.                    Miami
   Carlos A. Diez, MAI, CCIM                          Capstone Valuation Advisors                 Miami
   John Dohm, SIOR, CCIM                              Infinity Commercial Real Estate             Miami Lakes
   Connie Doumenis, CCIM                              MRG Commercial Group                        Miami
   Agustin Duarte, CCIM                               RE/MAX 360 Real Estate                      Coral Gables
   Kent Ducote, CCIM                                  Truman & Co                                 Key West
   Aran Dunlop                                        NAI Miami                                   Miami
   Frank Fernandez                                    CenterState Bank                            Homestead
   Jorge Fernandez-Pla, CCIM                          KW Commercial                               Miami
   Isabel Fine, CCIM                                  Real Miami Commercial Real Estate, LLC      Coral Gables
   Eugene Font                                        Apollo Bank                                 Miami
   Augusto J. Fonte, CCIM                             AJF Properties, Inc.                        Coral Gables
   Jim Fried                                          Sandstone Realty Advisors                   Miami
   Jose Garcia                                        KW Coral Gables - Coconut Grove             Miami Lakes
   Stephen E. Gaunt, CCIM                             JLL                                         Miami
   Eduardo Gesio                                      FBDC                                        Miami
   Sandra Goldstein, CCIM                             Sandra Goldstein Commercial Real Estate     Miami
   Vladimir F. Golik, CCIM                            Keller Williams Realty Premier Properties   Miami
   Rodrigo E. Gomez                                   AG Real Estate Advisors, LLC                Miami
   Luis Gonzalez                                      CenterState Bank                            Homestead
   Malbelys Gonzalez                                  BGI Capital                                 Miami
   Michelle Gonzalez                                  Floridian First Realty                      Coral Gables
   Roberto Gonzalez                                   Gonzalez and Partners CPAs, LLC             Coral Gables

2019 Commercial Real Estate Outlook Conference   18
Florida CCIM Miami-Dade / Monroe District
                                Membership List
Winston Grace                     Brokers Real Estate Investment Management                 Aventura
Laura Graves                      BrokerNation RE                                           North Miami
Daniel Heisler, CCIM, CPM         Adler Realty Services                                     Miami
Douglas Hill                      American Caribbean Real Estate                            Key Largo
Michael Hinton, CCIM              Apex Capital Realty                                       Miami
Manuel Huerta                     Bear Finance, LLC                                         Coral Gables
Juan Huice                        Primetime Realty Group, Inc.                              Miami Lakes
Elias Jabech                      Keller Williams Commercial                                Miami
Doris B. Suttin                   Doris B. Suttin Realty, Inc.                              North Miami Beach
Maria G. Juncadella, SIOR, CCIM   Fairchild Partners, Inc.                                  Coral Gables
Laura Kefalidis                   Realty World Executive | Commercial Division              Miami
Simona Kogan                      Finite Real Estate Corporation                            North Miami
Ronald Kohn, CCIM                 Kohn Commercial Real Estate, Inc.                         Miami
Pierre Kopec                      Archipelago Properties                                    Doral
Matthew Kramer                    Weinberg Wheeler                                          Miami
Mitash Kripalani, CCIM            Colliers International                                    Miami
Jeremy S. Larkin                  NAI Miami                                                 Miami
Gregory J. Laskody, CCIM          DISTRICT Realty Advisors                                  Miami
Jonathan Lay, CCIM                Fairchild Partners                                        Coral Gables
Krystelle Lay, CCIM               Ten-X                                                     Miami
Diego Leiva                       KW Commercial                                             Coral Gables
Neal J. Lipner                                                                              Miami
LaWanda Loftus                    First Citizens Bank                                       Coral Gables
John C. Lonardo, CCIM             ComReal Miami-Gables, LLC.                                Coral Gables
Marti Mang                        TotalBank                                                 Miami
Juan M Martinez                   Metro Consulting & Management, Inc.                       Miami
Thomas C. Marvin, CCIM            Tremont Properties, LLC                                   Miami
John McNally                      McNally Environmental Law                                 Miami
Steve J. Medwin, SIOR, CCIM       Newmark Knight Frank                                      Miami
Louis R. Melara, CCIM             Keyes Company/Realtors                                    Homestead
Niko Micin, CCIM                  AGM Net Lease                                             Miami Beach
Lisa Miller                       Keller Williams Elite Properties                          Aventura
Francisca Miranda                 Keller Williams                                           Coral Gables
Andrea Montejo, CCIM              Flagler Global Logistics                                  Coral Gables
Alex Morcate                      Colliers International                                    Miami
W. Allen Morris, CCIM, SIOR       The Allen Morris Company                                  Coral Gables
Andreina Moyssidis                Keller Williams Realty Premier Properties                 Miami
Jorge Napoles, CCIM               Sperry Commercial Global Affiliates                       Miami
Marc A. Napolitano, CCIM          Napolitano Commercial Properties                          Miami
Andres Navarrete                  Absolut Financial Resources                               Miami
Michael Navarro                   MMG Equity Partners                                       Pinecrest
Patricia A. Nooney, SIOR, CCIM    CBRE, Inc.                                                Miami
JM Padron, CCIM                   RE/MAX Commercial Associates                              Weston
Thomas Panos P.A.                 Panago CRE Group / The Keyes Company                      Homestead
Elias G. Patsalos, CCIM           Casal Group                                               Miami
Manuel Perez                      The Keyes Company                                         Coral Gables

                                                                    19        2019 Commercial Real Estate Outlook Conference
Florida CCIM Miami-Dade / Monroe District
                                           Membership List
Ed Perez-Heydrich, CCIM                                  Portfolio Real Estate Services                       Coral Gables
Christian Perlini                                        Total Real Estate Consultants, Inc.                  Coral Springs
John Perrone                                             Legacy Realty Services, LLC                          Coral Springs
John L. Petricola, CCIM                                  Rockefeller Group Development Corp.                  Miami
Wendy Pierre, CCIM                                       BAWONS Properties, Inc.                              Miami
Billy Planes, CCIM                                       RE/MAX 360 Real Estate                               Coral Gables
Alejandro Puente                                         ACP Appraisals, LLC                                  Miami
Tony Puente, CCIM                                        Fairchild Partners, Inc                              Coral Gables
Patricia Quintana, CCIM                                  Comreal Miami, Inc.                                  Doral
Roza H. Radkiewicz                                       Astor Companies                                      Coral Gables
Karen Reiter                                             Keller Williams Elite Properties                     Aventura
David Restainer, CCIM                                    Douglas Elliman Commercial Real Estate               Miami
Albert D. Rey, CCIM                                                                                           Miami
Stephen R. Rigl, SIOR, CCIM                              Binswanger-Gateway Partnership                       South Miami
Carlos A. Rodriguez, Jr.                                 Waronker and Rosen, Inc.                             Miami
Grace C. Rodriguez, PA                                   AB Realty, LLC                                       Miramar
Frank Rodriguez Melo, CCIM                               Cedano Realty Advisors                               Miami
Britt J. Rosen, CCIM                                     Brittex Appraisal Services, Inc.                     Miami
Matthew O. Rotolante, CCIM, SIOR                         Lee & Associates Miami                               Miami
Daniel Salcedo, CCIM                                     CRE Global                                           Miami
Kevin Joseph Sanz, CCIM                                  Orion Investment & Management                        Miami
Edward Schmidt, CCIM                                     NAI Miami                                            Miami
Jose Serrano, CCIM                                       New Miami Realty Corp.                               Miami
Keiti Silva                                              Optimar International Realty                         Miami
Paul Silverstein, P.A.                                   Florida Commercial Team LLC                          Miami
Arnaud Sitbon, CCIM                                      ESJ Asset Management                                 Aventura
Paul Skoric, CCIM                                        Soundvest Properties, Inc.                           Miami
Claudia Splinter                                         Trajan Commercial Real Estate                        Brickell
Everett Stonebraker                                      Steinbauer Associates, Inc.                          Miami
Chris Suarez                                             Lincoln Property Company                             Miami
George Theodore, PhD                                     Address Real Estate, LLC                             Miami
Otto Travieso, CCIM                                      Real Capital Partners LLC                            Miami
Donald Trombly                                           Risk Strategies                                      Miami
Victor Vargas                                            CorEvents, Inc. / Brittex Appraisal Services, Inc.   Miami
Yulia Vargas                                             VETA Group of AG Advisors                            Sunny Isles Beach
Paul L. White, CCIM CPM CSM RPA                          KW Commercial                                        Miami
Mark Wohl                                                Tiktin Real Estate Investment Services               North Miami Beach
Jennifer Wollmann                                        EWM Realty International, Inc.                       Coral Gables
Milena Wood                                              Real Miami Commercial Real Estate, LLC               Coral Gables
Joshua Young                                             Raisal                                               Coral Gables
Nicolas Zelaya                                                                                                Key Biscayne
Danny Zelonker, SIOR, CCIM                               Real Miami Commercial Real Estate, LLC               Coral Gables
Gabriel Zelonker, CCIM                                   Real Miami Commercial Real Estate, LLC               Miami
Jay Ziv, CCIM                                            Avison Young                                         Miami

   2019 Commercial Real Estate Outlook Conference   20
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                                                                                  21          2019 Commercial Real Estate Outlook Conference
2019 Commercial Real Estate Outlook Conference   22
23   2019 Commercial Real Estate Outlook Conference
2019 Economic Outlook by K.C. Conway
                                          Main PowerPoints

                               4 Fed Rate Hikes, Gov. Shutdown, Tariffs, etc.
                           Yogi Berra had a Quote to put Anything in Perspective.

                                                                                    2

                         Forget the “r” word for 2019 … but
                                Get used to the “v” word (Volatility)
                              Just when things were
                                  going so well,
                                  “V” remerged.
                                What lies ahead?

                                                                                        3

2019 Commercial Real Estate Outlook Conference   24
2019 Economic Outlook by K.C. Conway
                 Main PowerPoints

                        The Big Story will be in
                       Logistics & Industrial R.E.

                                                                      4

 Jobs & Workforce: LinkedIn MSA-level Skills Analyses

Amazon HQ2 Issue:
Is Amazon going to pick a
HQ2 where it starts out
with a Skills Gap?
KC forecast is a Co-
working/WeWork option
for Amazon HQ2                                                    5

                                                25   2019 Commercial Real Estate Outlook Conference
Industrial Market by Stephanie A. Rodriguez
                                            Main PowerPoints

                 SOUTH FLORIDA INDUSTRIAL MARKET OVERVIEW

                     MARKET                           SIZE
                     Palm Beach                       62.7M
                     Broward                          132M
                     Miami-Dade                       245M
                     TOTAL SFL                        439M SF
                    *Source: CoStar 3Q 2018

                 MIAMI INDUSTRIAL MARKET STATISTICS
                   Submarket       Inventory      Direct      Ave.        YTD
                                      (SF)       Vacancy     Asking    Absorption              Key Submarket Absorption
                                                 Rate (%)     Rent                  700,000
                                                             ($/psf)
                 Airport/Doral     80,464,770    3.5%        $10.84    194,653      600,000

                 Central Dade      3,291,044     2.5%        $11.63    45,103       500,000

                 Hialeah           31,066,424    2.8%        $8.70     166,908      400,000

                 S Central Miami   13,133,536    7.1%        $22.32    (90,735)     300,000

                 Medley            35,417,833    5.2%        $9.46     665,758      200,000

                 Miami Lakes       12,056,257    1.4%        $8.62     171,183      100,000

                 N. Miami Beach    37,257,803    4.8%        $9.07     (50,772)           0

                 E Miami           4,273,653     7%          $17.19    (30,538)     -100,000

                 S Dixie Hwy       8,910,257     2.6%        $12.09    (56,714)     -200,000

                 SW Dade           10,295,706    1.9%        $12.26    (73,213)     -300,000

                 W Miami           4,677,002     2.2%        $15.49    (26,402)     -400,000
                                                                                                 Airport        Medley/Hialeah   N. Miami
                 MIAMI             242,828,846   3.8%        $10.59    2,674,465                           1Q     2Q   3Q
                 Source: CoStar 3Q 2018

                                                                                                                                            2

2019 Commercial Real Estate Outlook Conference        26
Industrial Market by Stephanie A. Rodriguez
                     Main PowerPoints

DEVELOPMENT – MIAMI-DADE INDUSTRIAL
• 3.1 million square feet under construction at
  the end of 2018                                                  Historical Deliveries & Net Absorption

• 2017 deliveries totaled 3.7 million square feet                  4
• 2018 deliveries through 3Q totaled 3.1 million
                                                                 3.5
  square feet
• Submarkets with highest volume of                                3
  development are:
                                                                 2.5
    • Medley/Hialeah

                                                    Million SF
    • Miami Lakes                                                  2

    • N. Central Dade                                            1.5
    • Airport West/Doral
                                                                   1
• Developers:
                                                                 0.5
    • Flagler
    • ProLogis                                                     0

    • Bridge Development Partners                                -0.5
    • Liberty Property Trust                                            YE 2017   1Q 2018    2Q 2018       3Q 2018
                                                                                         Period
    • East Group
    • Panattoni                                                             Net Absorption    Deliveries

                                                                                                                       3

MARKET DRIVERS & TRENDS TO WATCH IN 2019

                                                                                                                       4

                                                                                    27            2019 Commercial Real Estate Outlook Conference
Retail Market by Josh Rodstein
                                              Main PowerPoints

                                                 RETAIL IN MIAMI
                                                      LAST 12 MONTHS

      INVENTORY (SF)        137 M

      TOTAL SPACE         NET ABSORBTION
     DELIVERED (SF)            IN SF

      1.7 M                 618 K

        VACANCY                RENT
          RATE                GROWTH

       4.0%                  2.9%

           2019 CCIM OUTLOOK CONFERENCE                                 SLIDE 2

                          RETAIL IN FORT LAUDERDALE
                                                      LAST 12 MONTHS

      INVENTORY (SF)        108 M

      TOTAL SPACE         NET ABSORBTION
     DELIVERED (SF)            IN SF

      864 K                 245 K

        VACANCY                RENT
          RATE                GROWTH

       3.9%                  0.4%

           2019 CCIM OUTLOOK CONFERENCE                                 SLIDE 3

2019 Commercial Real Estate Outlook Conference   28
Retail Market by Josh Rodstein
                                          Main PowerPoints

                                   RETAIL IN PALM BEACH
                                                           LAST 12 MONTHS

INVENTORY (SF)            80.5 M

 TOTAL SPACE             NET ABSORBTION
DELIVERED (SF)                IN SF

 182 K                    -354 K

  VACANCY                      RENT
    RATE                      GROWTH

  4.6%                        3.8%

     2019 CCIM OUTLOOK CONFERENCE                                                                                          SLIDE 4

              AVAILABILITY IN SOUTH FLORIDA
                                                           LAST 12 MONTHS

                 AVAILABILITY             MIAMI             FT. LAUDERDALE         PALM BEACH             NATIONAL INDEX

          Market Rent/SF                          $38.50                $24.67                  $27.29                    $20.94

          Vacancy Rate                             4.0%                  3.9%                    4.6%                      4.4%

          Vacant SF                                5.5 M                 4.2 M                   3.7 M                    503 M

          Availability Rate                        5.5%                  5.6%                    6.4%                      6.3%

          Available SF                             7.7 M                 6.1 M                   5.2 M                    727 M

          Sublet SF                               177 K                 98.5 K                  105 K                      25 M

          Months on Market                           8.4                     9.1                   8.9                      10.7

     2019 CCIM OUTLOOK CONFERENCE                                                                                          SLIDE 5

                                                                                         29              2019 Commercial Real Estate Outlook Conference
Capital Market by Andrea Molina
                                               Main PowerPoints

                                                                                                                  Sources of Capital
   Commercial Real
   Estate Lending 101                                                                  On a scale of 1 to 10, respondents rated local and regional
                                                                                         banks as the most significant source of capital to the
                                                                                                 commercial real estate sector at a 6.7
Investor (often a business entity):
-Purchases a property, leases out space and
collects rent from the businesses that
operate within the property.
-The investment is intended to be an
income-producing property.

Lender’s basic considerations:
-Loan’s collateral (i.e. the property itself)
-Creditworthiness of the entity (or
principals/owners), including three to five
years of financial statements and income
tax returns
-Financial ratios, such as the loan-to-value
ratio and the debt-service coverage ratio.
Source: Investopedia

                                                                                                                           Source: National Real Estate Investor

                                                                                                                                  -Late-cycle sentiment offset by competition
          Availability of                                                                                                         -$4.17 trillion in CRE debt held by all lenders,
                                                                                                                                  with 52.4% held by banks
           Real Estate
                                                                                                                                  -$266 billion of private investor “dry powder”
             Capital                                                                                                              targeting real estate
          2018 vs. 2019                                                                                                           -Depth of capital pool vs. ability to draw on it
                                                                                                                                  -Pattern of decelerating transaction volume
                                                                                                                                  since 2015.

                                                                                                                                  -Federal Reserve’s April 2018 Senior Loan
                                                                                                                                  Officers’ survey showed, for the first time in
                                                                                                                                  three years, an easing of credit standards on
                                                                                                                                  commercial real estate
                                                                                                                                  -Underwriting standards such as loan-to-cost
                                                                                                                                  ratios and maturities holding steady.
                                                                                                                                  -Larger loans for development projects, and
                                                                                                                                  to expand the geography of construction
                                                                                                                                  lending.
                                                                                                                                  -Expectation of deregulation (Dodd-Frank)

                                                          Sources: PWC Emerging Trends in Real Estate Survey, Based on U.S. Respondents only; Fed Reserve; data firm Trepp LLC

    2019 Commercial Real Estate Outlook Conference   30
Capital Market by Andrea Molina
                                       Main PowerPoints

                           Impact of Rising Interest Rates
      Cap rates
                                                                             How will rising interest rates impact each aspect of the CRE market?
     expected to
         rise –
     mitigated by
       flight to
        quality

        Negative
       impact on
           new
      construction
        financing

                                   * Source: National Real Estate Investor

     South Florida:
                                                                                       Average Cap Rate by Tier
    Primary Market
    Stability in 2019
CRE values – especially in top-tier markets –
are at all-time highs and cap rates are as
tight as ever

Late cycle compressed yields led investors to
secondary markets – 75 to 100 bp spread

Investment activity shifting back to Primary
Markets

Income stream coupled with high-quality
assets that will be best-positioned to go
through different economic cycles

                                                                                        * Source: Trepp LLC

                                                                                                              31   2019 Commercial Real Estate Outlook Conference
Multifamily Market by Calum Weaver
                                         Main PowerPoints

2019 Commercial Real Estate Outlook Conference   32
Multifamily Market by Calum Weaver
         Main PowerPoints

                             33      2019 Commercial Real Estate Outlook Conference
Office Market by Maria G. Juncadella, SIOR, CCIM, MBA
                                     Main PowerPoints

2019 Commercial Real Estate Outlook Conference   34
Office Market by Maria G. Juncadella, SIOR, CCIM, MBA
                  Main PowerPoints

                                        35   2019 Commercial Real Estate Outlook Conference
President & CEO Jorge Gonzalez
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