CANADIAN APARTMENT INVESTMENT CONFERENCE Cross Country Investment Activity Update Presented by: Robert Given, Vice Chairman September 25 th , 2013
Direct Canadian Investing in U.S. Last 3 Years *Source: RCA CBRE | Page 2
Direct Canadian Investing in Florida (2007-Present) Country Total Properties Total Volume Canada 48 $987.4 Total 48 $987.4 Volume in Millions of $ Market Total Properties Total Volume Tampa 14 $263.6 Orlando 9 $213.8 Broward 6 $169.2 Jacksonville 4 $88.4 Palm Beach 3 $87.5 SW Florida 3 $46.6 Florida Panhandle 3 $40.4 Miami 4 $31.0 Central FL 1 $14.2 Other 1 $32.9 Total 48 $987.4 Volume in Millions of $ CBRE | Page 3
Canadian Acquisitions in Florida Village Crossing Blue Isle Parrot’s Landing $16,600,000 $56,300,000 $40,000,000 340 units 189 units 560 units Morguard Morguard Brass Enterprises Summerfield Park Colony Hillsboro Bay Club $12,150,000 $41,500,000 $53,100,000 153 units 316 units 366 units Delavaco Properties Bentall Kennedy Delavaco Properties CBRE | Page 4
Doral West $93.5 million $240,979 per unit $207 per SF Buyer: Associated Estates Seller: JP Morgan Sales Date: 07/2013 Year Built: 1998 Unit Count: 388 Avg. Unit Size: 1,164 SF Occupancy: 91%/92.5% Cap Rate: 4.80% CBRE | Page 5
Terrazas $85 million $262,345 per unit $241 per SF Buyer: Seller: Wood Partners Sales Date: TBD Year Built: 2009 Unit Count: 324 Avg. Unit Size: 1075 SF Occupancy: 94.8% Cap Rate: 5.0% CBRE | Page 6
Resort at Pembroke Pines $225 million $148,026 per unit $156 per SF Buyer: Carroll Org Seller: SPUSV5 Pembroke Pines LLC Sales Date: 6/2013 Year Built: 1986-1990 Unit Count: 1520 Avg. Unit Size: 949 SF Occupancy: 96% Cap Rate: 5.0% CBRE | Page 7
Port Royale $117 million $159,227 per unit $222 per SF Buyer: JP Morgan/MCRT Seller: EQR Sales Date: 12/2012 Year Built: 1988/1990 Unit Count: 737 Avg. Unit Size: 717 SF Occupancy: 95% Cap Rate: 5.05% CBRE | Page 8
THANK YOU Robert Given Vice Chairman CBRE, Inc. South Florida Multi-Housing Group 200 E. Las Olas Blvd, Suite 1620 Miami - Fort Lauderdale FL 33301 954-462-5655 CBRE | Page 9
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