Broward State of the Market

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.

Asi Cymbal is the Chairman of Cymbal DLT Companies. Mr. Cymbal has over 30 years of experience in real estate development, construction, finance, and law. He is driven by his passion for great architecture and design, his focus on transforming communities, and his commitment to creating great wealth for his investors. He has been fortunate to work with the world’s best architects and designers (Philippe Starck, Bjarke Ingels, Enrique Norten, Jo Palma, Arquitectonica) as a first mover in neighborhoods at a critical time in their transition (the Financial District in Manhattan, Tribeca, SOHO, the Miami Design District, Wynwood, Downtown Fort Lauderdale, Dania Beach, Miami Gardens). Mr. Cymbal is grateful to his investors and proud of the fact that he has rewarded them with unmatched returns.  Mr. Cymbal raised his first fund in 2010.  That $3 million fund is now worth over $180 million.  He is focused on increasing that to $700 million by 2026. After experimenting with retirement in 2014, he came back to create a second fund during the 2020 Pandemic.  He turned that $16 million fund into $90 million in 20 months. Mr. Cymbal is currently raising a $100 million evergreen fund to be deployed into the $2 billion Cymbal DLT pipeline. Mr. Cymbal also has significant food and beverage experience. He has co-created and owned over half a dozen of the hottest restaurants and clubs in Miami, including Sra. Martinez (with celebrity chef and James Beard award-winner, Michelle Bernstein), Bardot, and gigi. Mr. Cymbal has been named by the South Florida Business Journal as a Heavy Hitter in Construction and Real Estate Development, a Top 100 Power Leader, and as one of 2013’s People to Watch. He has also appeared on the front page of the Wall Street Journal. Mr. Cymbal is the Vice Chair and board member of Florida International University’s College of Communication, Architecture + The Arts - Miami Beach Urban Studios. He is also a board member of Wynwood Norte, the organization that is spearheading the revitalization of north Wynwood. Mr. Cymbal was a past board member of Business for the Arts of Broward. Mr. Cymbal is a graduate of Vassar College and the UCLA School of Law. He is an experienced real estate and business attorney licensed to practice law in New York, New Jersey, and Washington D.C., and is a licensed general contractor in Florida.

Chris Gandolfo is the senior vice president of development for Tavistock Development Company. In his role, Gandolfo leads and oversees the development and construction of the revitalization of the iconic Pier Sixty-Six property in Fort Lauderdale.

Alexander S. Rosemurgy II is the CEO of Rosemurgy Properties, a privately owned commercial real estate development, investment and management firm. Portfolio assets include multi-family, self-storage, retail, office and undeveloped land. For the past 40 years, the company has maintained its focus on a long-term diversified investment strategy through multiple commercial asset classes. Mr. Rosemurgy was named Chief Executive Officer of Rosemurgy Properties in 2010. Since then, the company has expanded its portfolio to over $500 million in assets under development and management throughout the Southeast. In addition, he has expanded the operations of the company to include retail and construction management services. He has taken a focused approach in the architecture, design and detail of every project as part of an overall objective in delivering best-in-class properties and new developments. Mr. Rosemurgy has more than 20 years of commercial real estate, construction, and development experience with various firms in Florida. Mr. Rosemurgy is also the Managing Partner of Park Partners Residential. In 2013, Rosemurgy Properties teamed with Giles Capital Group to form a joint venture for the purpose of acquiring multi-family development sites and assets. In addition to development and acquisition, Park Partners provides property management and asset management services. Since May 2013, entities controlled by Rosemurgy and Giles have acquired and developed over $300 million in multi-family assets. Mr. Rosemurgy currently serves as a Member of the City of Boca Raton Affordable Housing Advisory Board, and is the former Chapter Chair and a current Board Member for Young Presidents Organization – Palm Beach Chapter. He is also a member of Impact 100 Men in Palm Beach County and serves on their Grant Committee. In 2016, Mr. Rosemurgy was a Florence Fuller Men with Caring Hearts nominee for his philanthropic work in the community. He has a Bachelor of Science degree in Finance from Florida State University and resides in Boca Raton with his family.

In 2016, Jenni Morejon was named President & CEO of the Fort Lauderdale Downtown Development Authority (DDA), the first woman to lead the agency in its 54-year history. The DDA was created in 1965 by the Florida State Legislature to promote and sustain investment in Downtown Fort Lauderdale, now a growing urban center in the Southeast Florida metropolis of 6 million people. Jenni oversees the implementation of projects and programs that require close collaboration with federal, state and local governments and a diverse group of Downtown stakeholders. The agency’s broad scope of work spans from major capital projects to community enhancement programs. She is currently facilitating the development of a new federal courthouse and a new joint city/county government campus, while implementing streetscape beautification projects and public art installations that enhance mobility and improve the urban public realm. Prior to joining the DDA, Jenni served as director of the department of sustainable development for the City of Fort Lauderdale from 2014 to 2016. She led a 185-person team with a total budget of $30 million and was responsible for city planning, economic development, housing programs, code compliance and building permits. At the start of her tenure as Deputy Director in 2012 and then Director in 2014, Jenni managed the consolidation of five separate operating departments into one as part of a citywide reorganization. During this time, her Department processed a record number of site plan applications and building permits (26,000 permits in 2015 with a total job value of $1.7 Billion) while adopting major updates to the Florida Building Code and City Zoning Code. Jenni serves on the National Public-Private Partnerships Product Council for the Urban Land Institute (ULI), was chair of the Women’s Leadership Initiative committee for the ULI’s Southeast Florida/Caribbean District Council from 2017-2019 and sits on the ULI’s Management Committee. She’s served a member of the Board of Directors of the Greater Fort Lauderdale Chamber of Commerce since 2015 and is currently the Chair of the Chamber’s Downtown Council. Jenni is a proud graduate of the Chamber’s Leadership Fort Lauderdale program in 2014 and Leadership Broward’s Women Leading Broward class three in 2016. Jenni grew up in South Florida before moving with her family to western Colorado as a teenager. She graduated from the University of Colorado with a degree in Environmental Design and moved back to South Florida in 1999, starting her professional career with the City of Fort Lauderdale as an entry-level urban planner. She and her husband, Jose, live in Pompano Beach with their two sons, and spend most weekends on the ball fields, in their backyard with friends and neighbors, or cheering on their beloved and beleaguered local sports teams.

Alan Hooper founded and operates Hooper Construction, Hooper Realty, and Hooper Management. He also co- founded Urban Street Development, and is a co-founder in The Restaurant People, Inc. Over 25 years his companies have designed, developed, constructed, managed, leased and sold over 1,500,000 square feet of neighborhood revitalization projects. Working with his partners and team, at a time when urban areas nationwide have seen incredible change, a niche “re-development” business has taken shape that focuses on areas within a downtown market that possess a high potential for growth and renewed lifestyle. Alan and his partners continue to be a driving force in the redevelopment of Downtown Fort Lauderdale neighborhoods developing boutique housing, office retail and trend- setting food and beverage businesses. Most recently, the College Town project in Tallahassee has been the catalyst for a complete makeover of the area along Gaines Street just east of Doak Campbell Stadium. Working with the Seminole Boosters, he and his partners have forever changed the FSU game day experience for students, alumni, faculty and visitors alike by inserting 645 beds of student housing, and over 50,000 sq ft of retail, restaurants & bars facing at the foot of the stadium. A boutique hotel and loft project are next on the books in College Town. Wife: Kristen Children: Brooke, Colton Education: BS – Florida State University Community Involvement:  Downtown Development Authority  Downtown Transportation Management Association – Chairman  Broward Center for the Performing Arts – Board of Directors  Jack & Jill Board of Directors  Broward Workshop  Broward Urban Core Committee  Flagler Village Improvement Association – Founding Member  Himmarshee Village Merchants Association- Founding Member  Seminole Booster Golden Chief  Florida State University Real Estate Foundation  Florida State University Alumni Assoc.  Florida State University Real Estate Society  St John the Baptist Catholic Church, Fort Lauderdale Community Awards  2014 Excalibur Award for Small Business Leader of the Year – Broward County  Fort Lauderdale Chamber of Commerce “Downtowner of the Year 2008”  City of Fort Lauderdale “Citizen of the Year” 2006  Florida Redevelopment Association; Roy Kenzie Award for Outstanding New CRA Project 2004

Christina Stine Jolley is a Vice President with Blanca Commercial Real Estate, Inc., the leading independently owned commercial real estate services firm in Florida. She has nearly 10 years of experience in the industry. On behalf of Blanca Commercial Real Estate, Ms. Jolley leverages her extensive local roots and network to support the firm’s ongoing expansion to meet a growing demand for its services in Broward. Prior to joining the firm, Ms. Jolley most recently served as a Senior Associate at Cushman & Wakefield, where she spearheaded business development and marketing for what grew to become Broward’s most active office tenant advisory team. Prior to this, Ms. Jolley worked as a law clerk for the Fort Lauderdale land use and zoning firm, Lochrie & Chakas. In addition to drafting legal documents, her work included building relationships with Broward government officials and real estate developers, and providing clients with strategic counsel across all aspects of the county’s development entitlement processes. The Boca Raton, Fla., native received a bachelor’s degree in public relations, with honors, from the University of Florida and a law degree from the University of Richmond School of Law.

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.