BELLARIA INTRACOASTAL RESIDENCES

BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE DAYTONA BEACH, FL 32118 John W. Trost, CCIM Principal Senior Advisor 386.301.4581 john.trost@svn.com SVN ALLIANCE COMMERCIAL REAL ESTATE ADVISORS 1275 WEST GRANADA BOULEVARD, SUITE 5B, ORMOND BEACH, FL 32174 OFFERING MEMORANDUM

PROPERTY INFORMATION Property Summary Proposed Unit Mix LOCATION INFORMATION Parcel Aerial Aerial Map Retailer Map Regional Map Daytona Beach Overview Location Overview Employment The Last Three Years - $1.6 Billion of Investment ADDITIONAL INFORMATION Renderings Proposed Site Plan Survey Boat Slip Layout Floor Plans Floor Plans Floor Plans DEMOGRAPHICS Demographics Map ADVISOR BIO Advisor Bio Back Page 1 2 3 4 5 BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 OFFERING MEMORANDUM

1 PROPERTY INFORMATION 801 N. Halifax Avenue Daytona Beach, FL 32118 BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 3

Property Summary OFFERING SUMMARY SALE PRICE: $2,700,000 LOT SIZE: 3+/- Acres PARCEL NO: 5305-01-01-0040 5305-01-01-0050 PROPERTY OVERVIEW Upscale 53 Unit Condominium Project - Fully Entitled project. 3+/- Acres with 300+/- Feet of direct Halifax River frontage. Units ranging from 2,500 SF to 5,600 SF including two story penthouses. All residences have direct views of Halifax River. Resort style pool with 5 poolside cabanas. Freestanding single garages in addition to covered and exterior parking. Potential additional income from cabana, dock and garage sales. Proposed 40 slip dock permit is nearing completion and shall be provided by seller. Conceptual dock layout available. Number of slips will be based on actual mooring size. Increase in dock density may be available. Entitled including City of Daytona Beach Development Order, SJRWMD stormwater permit, City of Daytona site plan approval, SJRWMD revetment and retaining wall permit and all other permits necessary to proceed. ZONING: PD-G Planned Development - General LOCATION OVERVIEW Site situated in a historical neighborhood on the Halifax Intracoastal Waterway. Short walk to the World's Most Famous Daytona Beach. Most likely the last high rise development to be approved on the Halifax River beachside. Located in Daytona Beach perfectly nestled between Ormond Beach and Port Orange. BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 4

Proposed Unit Mix UNITS FLOOR A/C BALCONY TOTAL 6 Two 14,618 2,500 17,118 6 Three 14,556 2,500 17,056 6 Four 14,556 2,500 17,056 6 Five 14,556 2,500 17,056 6 Six 14,556 2,500 17,056 6 Seven 14,556 2,500 17,056 6 Eight 14,556 2,500 17,056 6 Nine 14,556 2,500 17,056 5 Ten 20,319 4,418 24,737 * Eleven 12,997 2,366 15,363 TOTAL: 149,826 26,784 176,610 FLOOR GARAGE STORAGE LOBBY CLUBHOUSE 1 13,980 697 1,125 2,302 *2nd Floor of Penthouse Residences BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 5

2 LOCATION INFORMATION 801 N. Halifax Avenue Daytona Beach, FL 32118 BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 6

Parcel Aerial BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 7

Aerial Map BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 8

Retailer Map BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 9

Regional Map Bellaria Intracoastal Residences BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 10

Daytona Beach Overview HOME OF THE "WORLD'S MOST FAMOUS BEACH" Only 50 miles northeast of Orlando, 100 miles south of Jacksonville, and 62 miles to Kennedy Space Center Features tropical climate (average temperatures approximately 80 degrees Fahrenheit) Extremely strong tourism base - over 9 million visitors per year Tourism creates approximately $4.6 billion annually to local retail and hospitality businesses EASE OF ACCESSIBILITY Located 7 miles to Interstate 95 Third busiest mass transit intersection in the state of Florida 3 major airports within 60+ miles - Daytona Beach International Airport, Orlando International Airport, and Sanford Airport I-95/I-4 interchange getting $250 million federally funded improvements EXCEPTIONAL BUSINESS ENVIRONMENT AND OUTSTANDING HIGHER EDUCATION FOOTPRINT Public Companies: Brown & Brown (NYSE:BRO), TopBuild (NYSE: BLD), International Speedway Corporation (NASCAR) (NYSE:ISC), Teledyne Oil, and Consolidated Tomoka Land Company (NYSE: CTO) Significant number of small and light manufacturing, major distribution centers, aerospace and defense products, and automotive 4 MAJOR UNIVERSITIES / COLLEGES: Embry-Riddle Aeronautical University - 6,011 students Stetson University - 4,330 students Bethune-Cookman University - 3,934 students Daytona State College - 21,040 students BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 11

Location Overview Location Overview LOCATED JUST MINUTES TO: Brown and Brown Insurance plans to build a $30,000,000, 10-story downtown headquarters overlooking the Halifax River projected completion of the building in 2020 and estimated to create 600 new jobs by 2022 $192,000,000 Daytona Beach Convention Hotel & Condominiums 501 hotel rooms & 128 condo units. 1.1 Million SF on 4.5 acres, plus 517 space parking garage Under construction $40,000,000 200 room Hard Rock Hotel at 900 N. Atlantic Avenue Opened 2018 BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 12

Location Overview Daytona International Speedway and International Speedway Corporation 190,000 SF Headquarters $46,000,000 Tanger Factory Outlet Center - 350,000 SF projected to generate 900 full and part-time jobs - Opened 2016 $800,000,000 One Daytona mixed-use project, estimated 7,200 new jobs. Bass Pro Shops, Cobb Daytona Luxury Theatres, PF Chang s, Guitar Center, and Marriott Autograph Collection Opened 2017 LPGA Golf Course & Jimmy Buffett's Latitude Margaritaville proposed 6,900 new homes Under construction BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 13

Location Overview Mosaic proposed 1,100 homes and Bayberry Lakes 1,000 homes under construction LPGA Boulevard corridor Buc-ee s planned 120-pump, 50,000 SF convenience store on LPGA Boulevard LandShark Bar & Grill and Cocina 214 restaurants on beachside Opened 2017 Embry-Riddle Aeronautical University and Embry Riddle $12,000,000 Research and Technology Park 944 Bed Halifax Health Medical Center Daytona Auto Mall 18 Auto Dealerships including Ford, Dodge, BMW, Maserati, Mercedes Benz, Infiniti & Mini Cooper Trader Joe s $80,000,000-800,000 SF distribution warehouse 450 new jobs created Daytona Beach International Airport Daytona State College - more than 21,000 Students annually and 1,497 employees Bethune-Cookman University - Faculty and Student Body of more than 4,100 International Speedway Boulevard Commercial Corridor and Interstate 95 $246,300,000 new Interchange - under construction BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 14

Employment TOP LOCAL EMPLOYERS COMPANY NUMBER OF EMPLOYEES HALIFAX HOSPITAL 3,197 FLORIDA HOSPITAL 5,510 EMBRY-RIDDLE AERONAUTICAL UNIVERSITY 1,100 DAYTONA STATE COLLEGE 980 TANGER OUTLETS 900 INTERNATIONAL SPEEDWAY CORPORATION (NYSE: ISCA) 760 PEVONIA 600 TELEDYNE (NYSE: TDY) 525 TRADER JOE'S DISTRIBUTION CENTER 450 HALIFAX MEDIA GROUP 400 TOPBUILD (NYSE: BLD) 360 BROWN & BROWN (NYSE: BRO) 309 NASCAR (NASDAQ: ISCA) 280 COSTA DEL MAR 174 AO PRECISION 135 B BRAUN 175 BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 15

The Last Three Years - $1.6 Billion Of Investment AREA PROJECTS $30 Million Brown & Brown Insurance Riverfront Headquarters - 10-story Downtown Daytona Beach headquarters projected to be complete in 2020 $1 Billion Latitude Margaritaville (Under Construction) - Minto - Development of 6,900-home active adult community 300 homes per year - Development started in 2018 $100 Million Tanger Outlets (Completed 2016) - Tanger - 80 upscale brand name and designer outlet retailers First Tanger Outlet developed in Florida - 900 full/part time jobs $800 Million One Daytona (Under Construction) - ISC - Mixed use retail destination with Cobb Theatres, Bass Pro Shops, PF Chang's, Guitar Center, Marriott Autograph Collection - Opened 2018 $25 Million Hilton renovation (Under Construction) - Starwood Capital - Daytona's largest hotel (744 keys) $80 Million Trader Joe's Distribution Center (Completed 2015) - 630,000+ SF refrigerated distribution facility Created estimated 500 new jobs + 100 drivers $192 Million Daytona Beach Convention Hotel & Condominiums (Under Construction) Two 300-foot plus towers - 120 condos and 501 hotel rooms $40 Million Hard Rock Hotel (Completed 2018) - A 200 room hotel $40 Million B. Braun Distribution Facility (Completed 2018) BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 16

3 ADDITIONAL INFORMATION 801 N. Halifax Avenue Daytona Beach, FL 32118 BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 17

Renderings BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 18

Proposed Site Plan BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 19

Survey BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 20

Boat Slip Layout BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 21

Floor Plans BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 22

Floor Plans BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 23

Floor Plans BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 24

4 DEMOGRAPHICS 801 N. Halifax Avenue Daytona Beach, FL 32118 BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 25

Demographics Map POPULATION 1 MILE 3 MILES 5 MILES Total population 4,698 46,275 100,809 Median age 48.3 39.4 40.3 Median age (Male) 47.4 37.7 38.8 Median age (Female) 49.6 40.9 42.1 HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES Total households 2,557 19,525 41,677 # of persons per HH 1.8 2.4 2.4 Average HH income $42,319 $40,692 $44,044 Average house value $218,499 $167,272 $173,210 * Demographic data derived from 2010 US Census BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 26

5 ADVISOR BIO 801 N. Halifax Avenue Daytona Beach, FL 32118 BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 27

Advisor Bio JOHN W. TROST, CCIM Principal Senior Advisor PROFESSIONAL BACKGROUND WORKING IN COMMERCIAL REAL ESTATE SINCE 1985 IT IS ALL ABOUT YOU! Your dreams, your needs, and your time. Working with you, on your team as agent and advocate from the beginning through to closing. Seasoned professional with the education, designation, and experience. Bachelor of Business Administration - Degree in Finance from the University of Central Florida, the coveted Certified Commercial Investment Member (CCIM) designation, and the hands-on experience working with business professionals, developers, and investors. 1275 West Granada Boulevard Suite 5B Ormond Beach, FL 32174 T 386.301.4581 C 386.295.5723 john.trost@svn.com FL #BK-0160420 A recognized leader with over 30 years experience in Commercial Real Estate Sales and Leasing. During that time working with developers, financial institutions, and property owners to maximize their returns and leverage their time in land and investment property sales from multifamily sites and subdivisions, to large and small retail shopping centers and office complexes, and church properties across Florida. As well as extensive experience in office and retail leasing to numerous national, regional, and local tenants. Involved and a tremendous supporter of various youth and high school sporting activities, including weightlifting, football, basketball, and golf. Served on the board of local Pop Warner Football, High School Quarterback Club, and other non-profit organizations. With tremendous growth and interest in the Volusia-Flagler market, you too can benefit from the strength of a commercial broker with the expertise and integrity to maximize your dollars and your time. EDUCATION Bachelor, Finance University Of Central Florida 1992 MEMBERSHIPS & AFFILIATIONS International Council of Shopping Centers CCIM Institute BELLARIA INTRACOASTAL RESIDENCES 801 N. HALIFAX AVENUE, DAYTONA BEACH, FL 32118 SVN Alliance Commercial Real Estate Advisors Page 28