Broward County State of the Market

Jeffrey Ardizon is Principal at The Estate Companies, a Miami-based full-service, vertically integrated developer, owner and operator of residential communities throughout the tri-county region, and one of the largest and most active multifamily developers in Florida. The firm is best known for its institutionally recognized Soleste brand which features Class A multi-family communities throughout South Florida’s urban core and submarket locations. Mr. Ardizon has been credited for identifying and evaluating off-market opportunities, temporary market dislocations, special workouts, overall capitalization and general overall direction of the firm. The Estate Companies has implemented its strategic plan is to increase its focus on development in Broward and Palm Beach counties, and has many luxury projects in various stages of development including Pompano Beach, Dania Beach, Riviera Beach, West Palm Beach, three projects in Hollywood, two in North Miami Beach, and Spring Gardens, among others. Mr. Ardizon was instrumental in structuring and executing one of South Florida's first opportunity zone transactions, Soleste Grand Central, a 360-unit Class A multifamily project in Downtown Miami. Prior to joining The Estate Companies, Mr. Ardizon was the co-founder and principal of ECI, a real estate investment, management and development firm based in South Florida. The firm focused on providing GP/LP equity and debt for multi-family real estate developments and value-add opportunities across a diverse portfolio of asset classes. During that time, Mr. Ardizon was credited for strategically structuring and creating one of the more notable single-family offices in South Florida. Mr. Ardizon began his real estate career with one of the largest nationally ranked advisory firms in the country, where he led the firm's real estate practice for nearly a decade. He represented some of the largest real estate developers, REIT’s, operators and sponsors in the region. Under his leadership, the firm was awarded the top real estate tax firm by various publications. Mr. Ardizon was a top revenue producer for the firm and quickly gained industry recognition as a leading go-to advisor, advising clients on over $3 billion in transactional value.

Eric Fordin joined the Company in 2004 and currently serves as a Managing Director for the firm. His real estate experience spans more than 29 years, with the specialization in the acquisition, entitlement, development, financing, sales and marketing of condominium, multifamily and mixed use projects. Since joining Related in 2004, Mr. Fordin has overseen the development, from concept through to completion, of over 3,000 units with a value in excess of $6 billion. Most recently, Mr. Fordin completed Residences by Armani/Casa, recognized as the first residential commission for the Armani/Casa brand in the United States and the single largest tower ever developed by Related at over 1.7M square feet. Additional projects spearheaded by Mr. Fordin include Six Fisher Island, Rivage Bal Harbour, The Residences of Hillsboro Beach, Hollywood Arts, Diplomat Landings Residences, Hyde Resort & Residences, Apogee Beach, Beachwalk Resort & Residences, Hyde Beach House, Loft and Loft 2. With each project, Mr. Fordin is responsible for the negotiation of land acquisition, partnership agreements, budget creation and project fiscal responsibility and the overall management of the development process. He works closely with teams of consultants including general contractors, architects, engineers and designers in the realization of projects that raise the bar for Related. After earning a bachelor’s degree in sociology from the University of South Florida, Mr. Fordin attended New York University where he completed real estate-related courses in project management, cash flow analysis, and construction essentials for owners and developers.

Noah Breakstone, CEO of BTI Partners, a Fort Lauderdale-based real estate development and land investment firm. BTI Partners is developing some of Florida’ largest high-profile developments, including Westshore Marina District - home to one of Tampa Bay area’s most luxury condominium developments called Marina Pointe - and Orlando’s The Grove Resort & Spa west of Walt Disney World. BTI Partners is also behind one of the largest mixed-use developments being proposed in the City of Hollywood in South Florida and behind the development of a 1400-acre master planned community proposed near Orlando. Mr. Breakstone took the helm of BTI Partners three decades ago, following in the footsteps of his father Arthur Breakstone, who founded the company more than 50 years ago. Under Noah Breakstone's leadership, BTI Partners became one of Florida’s largest real estate developers and land bankers and grew the business to a multi-million-dollar operation. Mr. Breakstone's entrepreneurial approach, combined with his real estate finance, construction and development experience, provides BTI Partners with the flexibility to perform a variety of roles required in complex real estate developments and transactions involving all asset classes in urban cores across Florida. A graduate of Yale University, Mr. Breakstone is an active member of the National Association of Home Builders, Florida Atlantic Builders Association and the Urban Land Institute. Noah can speak to the state of the construction, lending, development and CRE industry during the Coronavirus crisis. His company often finds opportunities in down markets so he can speak to the type of opportunities that this financial downturn may present to developers and investors.

Rodrigo brings over 10 years of experience in developing affordable housing developments in Florida and more than 10 years of affordable housing developments in Venezuela, where he was involved in the development of more than 5,000 affordable dwelling units, including a homeless housing community for orphaned children. As Executive Vice President of Development, Rodrigo has been involved in site identification, contract negotiation, financial underwriting, project management, design oversight, and structuring of debt and equity for over 1,000 affordable housing units. During his time at HTG Rodrigo has been successful in financing developments with state and local Bonds, Low-Income Housing Tax Credits, Florida’s State Apartments Incentive Loan, FHLB’s AHP program, private, HUD and Freddie Mac financing, project-based Section 8 vouchers and other state and local funds. Rodrigo holds an L.L.M. in Real Property Development from the University of Miami. He is also attorney, a graduate of UCAB and a member of the Venezuelan Bar Association.

Raelin Storey serves as the Director of the Office of Communications, Marketing and Economic Development for the City of Hollywood. The Office is responsible for the City’s public relations, media relations, advertising, and community outreach, as well as spearheading the City’s economic development efforts. The Economic Development Division supports economic growth through business attraction, retention and expansion, as well as promoting entrepreneurship and strategic redevelopment. The Communications Division handles the City’s marketing, publications, video production, website, social media outlets and government access cable channels. Storey joined the City as the Director of Public Affairs in June of 2007 after a career as an award-winning journalist working in both print and television newsrooms. Storey was the first television journalist for the South Florida Sun-Sentinel bringing the newspaper’s investigations and reports to its television and radio partners. She was also an award-winning anchor and reporter for ABC and CBS affiliated television stations in Orlando, Florida and Minneapolis, Minnesota. She is a member of the International Economic Development Council, Urban Land Institute, the Public Relations Society of America and the Florida Government Communicators Association.

With over a decade of construction and insurance experience, Daniel has managed nearly $1 billion dollars worth of new construction, commercial and residential remodeling. In addition, Daniel has placed hundreds of insurance policies, serves as an expert witness in thousands of insurance disputes, and assisted community associations, business owners and homeowners recover from a wide variety of property and business income losses. He maintains a strong commitment to the community and serves on the BB&T Local Advisory Board and as Vice-Chairman of Miami Beach Chamber of Commerce.

Rishi has spent the last 10 years focused on residential real estate, primarily in the luxury sector, with a strong background in sales and marketing, prior to focusing on sponsoring development. Upon founding Location Ventures, he set out to create meaningful living experiences in premium locations centered around nature and technology. To date, Rishi is responsible for leading the development of a $400 million portfolio including: high-end, custom single-family homes; rehabilitation of multi-family properties; and the development of boutique condominiums. He is also the Managing Partner of URBIN, a company dedicated to co-living, co-working and wellness, and FORUM, an elevated coworking experience with high-touch business services. Rishi, first and foremost, takes great pride in fostering close relationships with the company’s partners and team. His day-to-day role centers around identifying unique opportunities, capital formation and setting the product vision for our projects, while working closely with the development team on proper execution. He received business degrees in Finance, Marketing and Management from the University of Miami, and is also a non-practicing attorney, having graduated from University of Miami School of Law. Rishi comes from a real estate family that has developed and invested in hotels, single-family homes and offices throughout the Southeast United States and New Delhi, India over the last 40 years.

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.

Alan Kennedy is a Managing Director at Hines and is responsible for securing and managing various real estate projects in the Southeast Region of the United States. Since joining Hines in 2005, he has been involved in the development, management and leasing of over 4.5 million SF of office, retail and multifamily projects and has led the master planning of over 7.5 million SF of mixed-use projects. Most recently in North Fulton, Mr. Kennedy is the development manager for 8000 Avalon (a 230,000 SF office building that delivered in 2017) and 10000 Avalon (a 250,000 SF office building that is currently under construction). Mr. Kennedy has a mechanical engineering degree from Georgia Tech and a MBA from Emory University.

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.

As President of Stiles Construction since 1994, Mr. Tim Moore is directly responsible for Stiles Construction and its associated operations throughout Florida. Mr. Moore has held numerous previous positions at Stiles in which he developed his construction knowledge and expertise. These include Vice President Preconstruction (1991-1994), Senior Estimator (1988-1991), Chief Project Estimator (1985-1988), and Project Manager (1983-1985). With over 25 years of experience, Mr. Moore’s extensive and comprehensive background with each and every phase of construction is highly evident. Mr. Moore graduated with honors from University of Florida in 1983. As a Certified General Contractor, he also serves on the Board of Directors of Associated Builders and Contractors (ABC), is Past President of the local and state Chapters of ABC, the Board of Directors of Covenant House Florida, the Board of Directors of Hope Pregnancy Center and the Building Committee for Sheridan House Family Ministries. Additionally, Mr. Moore maintains membership in the Construction Association of South Florida. Mr. Moore names his greatest business challenge to be convincing potential clients that the selection of a General Contractor should be based on many factors other than price alone. His business and personal philosophy is based on three principles: integrity, relationships and commitment. Tim feels strongly that people should be willing to stand behind their commitments and do so fairly and honestly. Mr. Moore earned Bachelor of Science in Building Construction from the University of Florida and is a Certified General Contractor (Class “A” unlimited). Professional Affiliations: Associated Builders and Contractors Florida Past-President; Associated Builders and Contractors Florida East Coast Chapter Past-President; Associated Builders and Contractors (ABC) Board of Directors; Construction Association of South Florida (CASF) Member; Covenant House of Florida Board of Directors.

Moderno is a real estate company focused mainly on the development of residential urban projects and creative commercial spaces in Fort Lauderdale & Miami. Moderno manages over $250 million in development projects, totaling over 1,000 apartment units, 50,000SF of commercial spaces which are under construction or planning stages.

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

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.

Jake Wurzak is the President at Wurzak Hotel Group. Jake also serves as the company’s in-house counsel and co-general counsel. Jake has been involved in the family hotel business from a very young age and is passionate about creating hotels and developing hospitality concepts in order to better enhance the guest’s experience. He is primarily focused on the analysis and executions of new acquisitions and dispositions, deal sourcing, new business development and the pursuit of third party management agreements. Jake also plays a key role in working with our brand partners as well as our capital and development partners to help grow the Wurzak Hotel Group. In addition, he leads the purchasing and procurement company, WHG Supply, LLC. Jake is also a member of the NSU Art Museum Fort Lauderdale Board of Governors. Prior to joining Wurzak Hotel Group Jake worked with The Kor Group in Los Angeles, and Hersha Hospitality Trust in Philadelphia. Jake received his BBA, cum laude, with honors from The University of Miami School of Business. He later earned a Juris Doctorate degree from Nova Southeastern University. Jake also serves as partner in Dove Hill Holdings, LLC, a real estate investment firm. Jake is a member of the Florida Bar.

Tamika Moses is native of Miami, FL and is the CEO & Managing Broker of Robin Bird Realty Inc., headquartered in Hollywood, FL. Robin Bird Realty Inc. is a successful boutique brokerage that focuses in Commercial, Residential and Distressed Property Solutions throughout Florida. She is a seasoned real estate professional with over seventeen years of experience in the mortgage, distressed real estate, and traditional real estate fields. She started her collegiate education at Florida A&M University and completed her bachelor’s degree in interdisciplinary studies/communications from Florida Atlantic University and her Masters of Science in International Real Estate degree from Florida International University in 2015. She also is a Licensed Florida Real Estate Instructor. Before starting Robin Bird Realty Inc., Tamika began her career path into the real estate industry in 2004 as a Mortgage Branch Manager for Local Mortgage Lender. After spending several years working in the mortgage industry, she transitioned into becoming a full-time real estate agent in 2011 after the real estate market was recovering from one of the worst market crashes in history. Tamika has worked for several major real estate brokerages throughout South Florida. In 2014, she made the decision to further her knowledge in Real Estate and apply to FIU’s Master of Science in International Real Estate ten-month program. The degree program made a huge impact on her career and helped her make the decision to obtain her Real Estate Broker’s license in 2015, and in the Summer of 2018, she founded and opened up, Robin Bird Realty Inc., which is named after her mother Robin whom passed away from stage four breast cancer in 2013. For which it honors her mother whom encouraged her to begin a career in real estate back in 2004. A Robin Bird symbolizes passion, honor, renewal, strength, new beginnings and great things to come. This was the perfect name as Tamika is passionate about real estate, and honors each and every client she works with. Since its opening Robin Bird Realty Inc., has closed over several million dollars in real estate transactions and continues to grow each and every year. Tamika is heavily involved in the real estate community locally and nationally. Tamika currently serves on several Real Estate boards including NAREB-SF, which stands for National Association of Real Estate Brokers the oldest minority real estate trade organization in the United States, The Women’s council of NAREB as the 2nd Vice President and is a candidate member of both the Miami Chapter and National CCIM organization. She is also a 2022 Florida State Director with the Florida Realtors, and a NAR (National Associations of Realtors) Research committee member for commercial real estate. Tamika is currently serving a third term as a Governor on the Commercial Board of the Miami Association of Realtors, which is the largest local realtor association in the United States and number two in the world. She is also one of the founding creators and moderators of the Miami Commercial Club on the Clubhouse APP, which is a globally social networking app. Every Friday at noon she co-moderates a clubhouse room with her fellow Miami Commercial Board of Governors discussing an array of topics focused on commercial real estate in and outside of South Florida. Tamika is also the recipient of the 2020 Miami Association of Realtors Commercial Rising Star award.

Austin Fox has created a very reputable, professional, and outstanding scope of work for any project he has worked on. Prior to becoming licensed, the journey had not always been so smooth. Regardless, he remained resilient and never lost sight of his end goal, to start his own firm and become his own boss. While working for multiple architectural firms while studying for his exams, Austin became fascinated by the idea of becoming an entrepreneur at a young age. Austin Fox Architecture was thus founded and created by Austin Fox. With an exponential level of growth in just a few months of being created, the company has been able to sign many projects on all sorts of levels. From multi-family apartment complexes, residential luxury homes, and commercial it is only the start for Austin Fox Architecture. To working a 9-5 job for a firm, to developing several million dollar projects with his sign and seal, Austin Fox has always presented with a superior level of professionalism, leaving each previous employer, and now his own clients with a great deal of satisfaction. Mr. Fox takes his time with each project to provide the highest quality of work for each individual client. His level of transparency, communication, and dedication has given him endless opportunities and he continues to use these assets to make him a strong entrepreneur and architect in the field.

Intalex Capital is driven by the pursuit of intellectual and moral excellence, that we diligently apply to meaningful work. Rigid investment principles are combined with a creative mindset to develop value creation strategies. We then test those strategies using our local market data and relationships. Finally we use a proprietary analytical framework to evaluate investments. When we have conviction that our business plan creates material value – we invest, execute our plan, and capture value. How we do business is just as important as what we do. We are honest, pursue excellence, and treat others as we wish to be treated. We focus on win-win solutions and keep our word: we believe being a good partner is not only good business, but a great way to live. Intalex Capital invests in institutional quality office, retail, and multifamily assets in the southeast United States. The firm was founded in August 2019 by Bryson Ridgway. Prior to Intalex Capital, Bryson was an executive at Stiles Corporation, where he led their Acquisitions Group and participating in $2.5 B of transactions. Bryson Ridgway Intalex Capital Managing Partner M.S. Real Estate University of Florida B.S. Finance University of Florida Bryson Ridgway is the Managing Partner of Intalex Capital, a private real estate investment firm with expertise investing in institutional quality office, retail, and multifamily assets in the southeast United States. Prior to Intalex Capital, Mr. Ridgway served as a Managing Director of Stiles. At Stiles, he completed over $2.5 B of transactions associated with acquisition and development investments in office, retail, and multifamily projects. He helped create Stiles’ first discretionary private equity fund, managed a distressed portfolio after the Global Financial Crises, and developed $200 MM of multifamily and office projects. Bryson was a Director of the Board for Ravti, a national HVAC technology company. Ravti was sold to Building Engines in 2021. Giving back to the community is important to Mr. Ridgway: one of his passions is teaching ethical leadership. Past positions include President of Florida Alpha, Chairman of the Bergstrom Council, and Vice Chairman of Fort Lauderdale’s Budget Advisory Board. Mr. Ridgway earned a Master of Science in Real Estate from the University of Florida, where he graduated cum laude with degrees in Finance and Classical History and was inducted into the UF Hall of Fame. Personal interests include philosophy, economics, competitive athletics, free-diving, and most importantly time with his wife and three children.