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OLYMPIA TOWER & THEATRE DOWNTOWN MIAMI New Urban International proposes a public/private venture with the City of Miami to convert the Olympia Tower into a profitable boutique hotel whereby over 50% of net revenues will be distributed directly into local charity organizations. nui New Urban International, LLC WWW.NUINTL.COM NUI THIS P R ES ENTATI NEW URBAN IN PRESENTATION N FO RMATI O Nf\ PAR:TN EI S.I I P l EC ACC l RACY C R C HEREIN. THE C N CONSTRUED . ,R OR TAX ADV!CE. " BUSINESS'' ADVISO. LEGAL, REGULAT "THIS PRESENTATI,I DISTRBUTIO F% THE DISCLOSURE THAT YOU HA NATION ABOUT AFFILIATES. THIS BEING FURNISHED OLELY FOR S PRESEI [1 IS SUBJE SHOULD I STITUTE A RELY MAIs nui New Urban International, LLC WWW.NUINTL.CONI eject Qverview Proj.cf,SU-, ma roject Lo°ca�on%s Rep©sitionin High Design: Hihligts ase Propos"a !jaw r6 Lease Terms; y Structure Overview About the Tea rmat10' TABLE OF CONTENT nui New Urban International, LLC WWW.NUINTL.COM nui New Urban International, LLC WWW.NUINTL.COM PROJECT SUMMARY The Olympia Tower and Theatre is an iconic piece of Miami history that stretches nearly a century. The property was built in 1926 and consists of 80 residential units, 3,800 SF ground floor retail, and a 1,500 seat theatre. New Urban International plans include a full renovation of the theatre and a repositioning of the residential tower into an upper mid -scale boutique hotel. NUI will upgrade rooms, corridors, lobby, life safety systems, and the ground floor retail within 12 months of acquisition. We aim to create a business model whereby the majority of net profits are contributed to local non-profit organizations that create lasting measurable impact. Renovations for the conversion are estimated at $6 million and will be raised by the New Urban Initiative through donations, grants, and other financial vehicles. The Initiative is a non-profit that specializes in raised capital for real estate cash flowing assets. New Urban International will asset manage the operations as well as project manage the much needed exterior renovations. Estimated costs for that are $15 million and will be funded through the sale of TDR and TDD rights attached to the Olympia Theatre and Tower. Address: Lot Size: Zoning: Year Built: Tower Area: Theatre Area: Total Hotel Suites: Average Unit Size: Total Theatre Seats: Total Event Space: Total Retail Space: 174 E Flagler Street Miami, FL 21,477 Sq. Ft. T6-80-0 1926 74,582 Sq. Ft. 13,598 Sq. Ft. 80 385 Sq. Ft. 1,500 5,500 Sq. Ft. 3,800 Sq. Ft. nui New Urban International WWW.NUINTL.COM PROJECT OVERVIEW HOTEL OVERVIEW The New Urban Initiative will raise the required capital to convert the residential units into a lifestyle boutique hotel with an industrial urban feel and modern technologies. The tower will undergo $6 million in rooms, corridors, and lobby renovations. The current floor plans are well suited for hospitality and will require little to no demolition. The room mix will consist primarily of suite, king, double, and shared rooms with one floor dedicated to shared accommodations. The ground floor will have a small lobby with easy access to new food and beverage outlets to include a cafe and bakery. New Urban International will asset manage the project through it's entirety. SOCIAL ENTERPRISE OVERVIEW Our triple bottom line approach will include new job creation, local non-profit support, and an increase in city revenues. New operations will create 15 full- time jobs and 5 part-time jobs with a goal of 40% or more of employee from within city limits. We will also commit an additional two percent (2%) of gross revenue to a historic preservation trust and three percent (3%) to a community fund focused on the City of Miami. Lastly, over 50% of annual operating profits will be dispersed local non-profit organizations through NUI's parent company the New Urban Initiative. Charitable proceeds will go to supporting local organizations who focus on housing, hunger, special needs, and education. TRANSFERABLE DWELLING RIGHTS OVERVIEW Transferable Dwelling Rights or TDR's are a vehicle that enables a historic property owner to transfer its unused development capacity to another property owner who then is allowed to add "bonus" height or intensity to its property. By creating a monetary value for the unused capacity, that would otherwise be lost when the owner maintains the historic building, the City hopes to save pieces of its history. Sale of these rights will be managed by NUI for a reasonable fee. Current Zoning: T6-80-0 (1,000du/acre) Total Acres: 21,477 (0.493 Acres) Total Allowed: 493 Current Unit Count: 80 Net Unit Count: 413 000006 Estimated Market Value: $10,325,000 ($25,000/Unit) New Urban internationa WWW.NUINTL.COM "'AwofeN'd ._ mre # Roo s .... Olympia Hotel Holiday Inn, Yve Hotel Langford Hotel Courtyard 80 200 243 meni Level 3 Sta`r ETATI VE SET HOLIDAY INN LANGFORD \HOTEL. TA Rating Last Renovated NA 2019 72/128 2012 83/128 2013 107b 4 5tar 42600008 2016 3000Star . 43/128 2016 REPOSITIONING HIGHLIGHTS ➢ Convert to Upper Midscale Hotel ➢ Fully renovate all rooms, corridors, and lobby with a chic industrial design' ➢ All new safety'systems ➢ F&B will consist of a coffee and pastry cafe ➢ Maintain current footprint All studios with kitchenettes ➢ Three ADA rooms "Independent branding affiliation nui New Urban International, LLC WWW.NUINTL.COM NUI DESIGN HIGHLIGHTS ➢ Modern industrial design ➢ Design elements include reclaimed wood, cast iron, and live walls ➢ Durable yet modern case goods Inspirational art Cozy lobby feel LEED certified ➢ Energy efficient systems ➢ SMART Systems Latest Technology nui New Urban International, LLC WWW.NUINTL.COM OPPORTUNITY HIGHLIGHTS Limited competition High barrier to entry Large target audience ➢ Numerous demand drivers Significant upside potential ➢ Leasehold interest of 99 years High margin business, platform IMMEDIATE Cashflow Reposition time of 12 months Local and federal tax credits available ➢ Prime corner location ➢ Great visibility nui New Urban international, LLC WWW.NUINTL.COM NUI nui New Urban International, LLC WWW.NUINTL.COM LEASE TERMS NUI and the Initiative will convert the 10-story apartment building into a for - profit independent boutique hotel and execute a long term land lease with the City of Miami. The partnership will spend upwards of $6 million on energy efficient system upgrades along with rooms, corridors, and lobby renovations. In exchange for capital improvements and project management, NUI is asking for a three year rent abatement on a 99 year lease. The partnership will also project manage the full restoration and repair of the Gusman Theatre and exterior. With an estimated $15 million in repairs, $3 million has already been provided and the remaining balance will come from the sale of excess TDD and TDR rights attached to the property. NUI will manage the sale of unit and will be compensated a reasonable fee. NUI will also implement a new business strategy and third -party management for theatre operations Management will coordinate with hotel sales & marketing staff for smaller daytime events along with local non-profit organizations and education institutions in order to maximize revenues. Term: 49 years Extensions: 5 (10 year) Base Rent: $80,000 ($1,000/Unit) Rate Increases: Rate increase to begin in Year 6 based on Consumer price index not to exceed 3% annually. Rent Abatement: Three years Historic Preservation Fund: Upon stabilization, 2% of gross revenue will be held in an interest -bearing account for restoration projects throughout the City of Miami. Community Fund: Upon stabilization, 3% of gross revenue held in trust and distributed to local non-profit organizations within the City of Miami. Employment: NUI will employ 40% of it's employees from within city limits paid above minimum wage with benefits. An estimated 15 full-time and 5 part-time positions will be created. Parking & Theatre Deficits: The City will donate 65 nearby parking spaces to hotel operations for the cost of $1/space/month. Parking proceeds will go to cover any fiscal deficits from the Theatre while any remaining funds will&mbsiosrsed back to the city parking authority. STRUCTURE OVERVIEW Equity Source Non -Profit Fee Simple Asset Manager For -Profit MANAGEMENT OLYMPIA HOTEL, LLC Leasehold Interest For -Profit DEVELOPMENT SONDER iDEKO PRODUCTIONS AEG :PRESENTS DR F 004 REVENUE DISBURSEMENT SOUTH FLORIDA Camillus House RONALD MCDONA D HOUSECHARITIES' maw L[oH1Hou dieBUND AND VISUAL': LLY Im,i'8 , lfl Li) Big Brothers Big Sisters. FMAM) New Urban International, LLC WWW.NUINTL.COM, ANTIS SPEAKS' nui New Urban International, LLC WWW.NUINTL.COM PROJECT COSTS Proiect Uses Acquisition Costs Purchase Price Closing Costs Acquisition Fee % Total 1.8% 0.9% 0.0% $ per $ Amount Room $100,000 $1,250 50,370 630 0 0 Total Acquisition Costs Project Costs Guestrooms / Guestrooms Floors Lobby Floor Conference Facility Building Systems Building Envelope & Exterior Administration & Other Other - Outside of Renovation 2.7% $150,370 $1,880 18.9% 4.8% 0.0% 17.0% 7.2% 40.9% 0.0% $1,036,889 265,000 0 932,000 395,000 2,243, 745 0 $12,961 3,313 0 11,650 4,938 28,047 0 Total Project Costs 88.8% $4,872,634 $60,908 Total Costs before Financing Financing Costs Loan Origination Costs Interest Reserve 91.6% $5,023,004 $62,788 1.9% 6.6% $102,942 359,452 $1,287 4,493 Total Financing Costs 8.4% $462,394 $5,780 Total Costs 100.0% $5,485,398 $68,567 New Urban Internationa WWW.NUINTL.COM HOTEL OPERATIONS Olympia Hotel Occupancy Average Daily Rate RevPAR $140.00 2 2019 Var 50.0%-16.67% 47.37% $70.00 22.81% 2020 Var 75.0% 50.00% $151.20 8.00% $113.40 62.00% 2021 Var 82.0% 9.33% $157.25 4.00% $128.94 13.71% REVENUES % $ PAR $ POR % $ PAR $ POR! % $ PAR $ POR Rooms $2,049,600 84.0% $25,620 $140.00 $3,311,280 85.9% $41,391 $151.20 $3,765,146 79.7% $47,064 $157.25 Food & Beverage 0 0.0% 0 0.005 0 0.0% 0 0.00 359,160 7.6% 4,490 15.00 Telecommunications 2,196 0.1% 27 0.15 3,393 0.1% 42 0.15 3,821 0.1% 48 0.16 Parking/Transportation 128,100 5.2% 1,601 8.75 197,374 5.1% 2,467 9.01 222,269 4.7% 2,778 9.28 Retail Leases 120,000 4.9% 1,500 8.20 123,600 3.2% 1,545 5.64 127,308 2.7% 1,591 5.32 Other $65,880 2.7% 824 4.50' 101,507 2.6% 1,269 4.64 114,310 2.4% 1,429 4.77 Event Space 75,000 3.1% 938 5.12 115,875 3.0% 1,448 5.29 130,491 2.8% 1,631 5.45 Total Revenue $2,440,776 100.0% $30,510 $166.72 $3,853,028 100.0% $48,163 $175.941 $4,722,505 100.0% $59,031 $197.23 DEPARTMENTAL EXPENSES Rooms 468,480 22.9% $5,856 $32.00 $721,824 21.8% $9,023 $32.96 $812,870 21.6% $10,161 $33.95 Food & Beverage 0 0.0% 0 0.00` 0 0.0% 0 0.00 0 0.0% 0 0.00 Telecommunications 29,280 1333.3% 366 2.00 45,11 4 1329.7% 564 2.06 50,804 1329.7% 635 2.12 Parking /Transportation 128,100 100.0% 1,601 8.75 197,374 100.0% 2,467 9.01 222,269 100.0% 2,778 9.28 Retail Leases 12,000 10.0% 150 0.82 12,360 10.0% 155 0.56 12,731 10.0% 159 0.53 Other 23,058 35.0% 288 1.581 33,497 33.0% 419 1.53 40,008 35.0% 500 1.67 Event Space 48,750 65.0% 609 3.33' 75,319 65.0% 941 3.44 84,819 65.0% 1,060 3.54 Total Departmental Expenses $709,668 29.1% $8,871 $48.47 $1,085,488 28.2% $13,569 $49.57 $1,223,502 25.9% $15,294 $51.10 GROSS OPERATING INCOME $1,731,108 70.9% $21,639 $118.25 $2,767,540 71.8% $34,594 $126.37`:. $3,499,003 74.1% $43,738 $146.13 UNDISTRIBUTED OPERATING EXPENSES Administrative & General $366,116 15.0% $4,576 $25.01 $346,773 9.0% $4,335 $15.83 $425,025 9.0% $5,313 $17.75 Credit Card Commissions 56,138 2.3% 702 3.83 88,620 2.3% 1,108 4.05 108,618 2.3% 1,358 4.54 Management & Branding Fees 292,893 12.0% 3,661 20.01 462,363 12.0% 5,780 21.11 < 566,701 12.0% 7,084 23.67 Sales & Marketing 97,631 4.0% 1,220 6.67 154,121 4.0% 1,927 7.04 236,125 5.0% 2,952 9.86 Utility Cost 109,800 4.5% 1,373 7.50 169,178 4.4% 2,115 7.73 190,516 4.0% 2,381 7.96 Repairs & Maintenance 124,440 5.1% 1,556 8.501 191,735 5.0% 2,397 8.76 215,919 4.6% 2,699 9.02 Total Undistributed Operating Expenses $1,047,018 42.9% $13,088 $71.52 $1,412,789 36.7% $17,660 $64.51 $1,742,904 36.9% $21,786 $72.79 GROSS OPERATING PROFIT $684,090 28.0% $8,551 $46.73 $1,354,752 35.2% $16,934 $61.86 $1,756,099 37.2% $21,951 $73.34 FIXED EXPENSES Insurance $35,000 1.4% $438 $2.39 $75,000 1.9% $938 $3.42 $78,000 1.7% $975 $3.26 Property Tax 66,000 2.7% 825 4.51 68,640 1.8% 858 3.13 71,386 1.5% 892 2.98 Leases & Other Charges 0 0.0% 0 0.00 0 0.0% 0 0.00 0 0.0% 0 0.00 Capital Reserves (FF&E) 0 0.0% 0 0.00 0 0.0% 0 0.00 236,125 5.0% 2,952 9.86 City of Miami Community Fee 0 0.0% 0 0.00- 0 0.0% 0 0.00 47,225 1.0% 590 1.97 Historic Preservsation Fee 0 0.0% 0 0.00 0 0.0% 0 0.00 47,225 1.0% 590 1.97 Total Fixed Expenses $101,000 4.1% $1,263 $6.90 $143,640 3.7% $1,796 $6.56 $479,961 10.2% $6,000 $20.05 NET OPERATING INCOME $583,090 23.9% $7,289 $39.83 $1,211,112 31.4% $15,139 $55.30 $1,276,138 27.0% $15,952 $53.30 Urban lnternationa WWW.NUINTL.COM HOTEL OPERATIONS Olympia Hotel 2 2022 80 365 29,200 24,820 85.0% $161.97 $137.67 Var 0.00% 3.00% 3.00% 2023 80 366 29,280 24,888 Var 85.0% 0.00% $166.82 3.00% $141.80 3.00% 2024 80 366 29,280 $' 24,888 Var 85.0% 0.00% $171.83 3.00% $146.05 3.00% Number of Rooms Days Open Available Rooms Occupied Rooms Occupancy Average Daily Rate RevPAR REVENUES % $ PAR $ POR % $ PAR $ POR', % $ PAR $ POR Rooms $4,019,982 79.9% $50,250 $161.97 $4,151,926 79.9% $51,899 $166.82 $4,276,484 79.9% $53,456 $171.83 Food & Beverage 383,469 7.6% 4,793 15.45 394,973 7.6% 4,937 15.87 406,822 7.6% 5,085 16.35 Telecommunications 4,079 0.1% 51 0.16 4,202 0.1% 53 0.17 4,328 0.1% 54 0.17 Parking /Transportation 237,313 4.7% 2,966 9.56 245,102 4.7% 3,064 9.85?', 252,455 4.7% 3,156 10.14 Retail Leases 131,127 2.6% 1,639 5.28 135,061 2.6% 1,688 5.43 139,113 2.6% 1,739 5.59 Other 122,047 2.4% 1,526 4.92 125,708 2.4% 1,571 5.05 129,479 2.4% 1,618 5.20 Event Space 134,405 2.7% 1,680 5.42 138,438 2.7% 1,730 5.56 142,591 2.7% 1,782 5.73 Total Revenue $5,032,423 100.0% $62,905 $202.76 $5,195,409 100.0% $64,943 $208.75 $5,351,272 100.0% $66,891 $215.01 DEPARTMENTAL EXPENSES Rooms $759,402 18.9% $9,493 $30.600 $784,327 18.9% $9,804 $31.51 \ $807,856 18.9% $10,098 $32.46 Food & Beverage 0 0.0% 0 0.00 0 0.0% 0 0.00. 0 0.0% 0 0.00 Telecommunications 54,243 1329.7% 678 2.19 55,870 1329.7% 698 2.24 57,546 1329.7% 719 2.31 Parking / Transportation 237,313 100.0% 2,966 9.56 245,102 100.0% 3,064 9.85 252,455 100.0% 3,156 10.14 Retail Leases 13,113 10.0% 164 0.53 13,506 10.0% 169 0.54 13,911 10.0% 174 0.56 Other 42,716 35.0% 534 1.72. 43,998 35.0% 550 1.77 ' 45,318 35.0% 566 1.82 Event Space 87,364 65.0% 1,092 3.52 89,984 65.0% 1,125 3.62 92,684 65.0% 1,159 3.72 Total Departmental Expenses $1,194,150 23.7% $14,927 $48.11 $1,232,787 23.7% $15,410 $49.53 $1,269,771 23.7% $15,872 $51.02 GROSS OPERATING INCOME $3,838,273 76.3% $47,978 $154.64, $3,962,622 76.3% $49,533 $159.22 $4,081,501 76.3% $51,019 $163.99 UNDISTRIBUTED OPERATING EXPENSES Administrative & General $452,918 9.0% $5,661 $18.25 $467,587 9.0% $5,845 $18.79 $481,614 9.0% $6,020 $19.35 Credit Card Commissions 115,746 2.3% 1,447 4.66 119,494 2.3% 1,494 4.80 123,079 2.3% 1,538 4.95 Management & Branding Fees 219,789 4.4% 2,747 8.86 226,983 4.4% 2,837 9.12 214,051 4.0% 2,676 8.60 Sales & Marketing 301,945 6.0% 3,774 12.17i', 207,816 4.0% 2,598 8.35 214,051 4.0% 2,676 8.60 Utility Cost 203,411 4.0% 2,543 8.20 210,087 4.0% 2,626 8.44' 216,390 4.0% 2,705 8.69 Repairs & Maintenance 230,533 4.6% 2,882 9.29 238,099 4.6% 2,976 9.57 245,242 4.6% 3,066 9.85 Total Undistributed Operating Expenses $1,524,342 30.3% $19,054 $61.42 $1,470,068 28.3% $18,376 $59.07 $1,494,428 27.9% $18,680 $60.05 GROSS OPERATING PROFIT $2,313,931 46.0% $28,924 $93.23 $2,492,554 48.0% $31,157 $100.15', $2,587,073 48.3% $32,338 $103.95 FIXED EXPENSES Insurance $81,120 1.6% $1,014 $3.27 $84,365 1.6% $1,055 $3.39. $87,739 1.6% $1,097 $3.53 Property Tax 74,241 1.5% 928 2.99 77,211 1.5% 965 3.10 80,299 1.5% 1,004 3.23 Leases & Other Charges 80,000 1.6% 1,000 3.22 82,400 1.6% 1,030 3.31 84,872 1.6% 1,061 3.41 Asset Management Fee 503,242 10.0% 6,291 20.28 519,541 10.0% 6,494 20.88r 535,127 10.0% 6,689 21.50 City of Miami Community Fee 100,648 2.0% 1,258 4.06 155,862 3.0% 1,948 6.26 160,538 3.0% 2,007 6.45 Historic Preservsation Fee 100,648 2.0% 1,258 4.06 103,908 2.0% 1,299 4.18 107,025 2.0% 1,338 4.30 Total Fixed Expenses $939,900 18.7% $11,749 $37.87 $1,023,287 19.7% $12,791 $41.12 ` $1,055,601 19.7% $13,195 $42.41 NET OPERATING INCOME $1,374,031 27.3% $17,175 $55.36 $1,469,268 28.3% $18,366 $59.04 $1,531,472 28.6% $19,143 $61.53 New Urban International, LLC WWW.NUINTL.COM PROJECTED RETURNS CITY INCENTIVES 2019 2020 2021 2022 2023 2024 Property Taxes $66,000 $75,000 $78,000 $ 81,120 $84,365 $ 87,739 Base Rent $ - $- $ - $ 80,000 $82,400 $ 84,872 Community Fund 3% $ - $- $48,858 $ 100,648 $155,862 $ 160,538 Preservation Fund 2% $ - $- $48,858 $ 100,648 $103,908 $ 107,025 Bed Tax Total Revenue Total Expenses 6% $122,976 $198,677 $234,174 241,199 $249,116 $ 256,589 96,764 NEW URBAN INITIATIVE Total $ 472,224 $ 247,272 $ 465,907 $ 360,441 $1,302,730 2019 2020 2021 2022 2023 2024 Total $0 $697,630 $999,369 $4,431,423 $490,806 $543,680 $7,162,908 20% $0-$139,526-$199,874-$886,285-$98,161-$108,736 1,432,582, ,104 799,495 $3,5 5,138 2,645 $434 Total City Contributions $188,976 $831,781 $1,209,386 $4,148,754 $1,068,296 $1,131,708 $8,578,901 nui New Urban International, LLC WWW.NUINTL.COM NUI TRANSPORTATION TRUST" New Urban International is committed to effective community change and will dedicate up to 3% of gross revenues to the Transportation Trust Fund of Miami. The Community Fund is a non-profit fund that focuses on the immediate needs of the community. The board consists of three members including Mario Abati and Francisco Rodriguez of NUI and a third board member appointed by the Transportation Trust Fund. The mission of the Community Fund is to address immediate and ongoing transportation needs of the city to include emergency and natural disasters. Transportation Trust Fund The Transportation Trust Fund's mission is to enhance and facilitate the creation, operation, and maintenance, including capital and operating costs, of mass transit and other transportation facilities within the city. Funds will go towards, fixed mass transit routes, the city's trolley system, waterborne mass transit, and public parking garages for transit enhancement purposes. It is further intended that the transportation trust fund money may be expended as the city's share of the cost of an eligible project undertaken or developed by other governmental entities or through a public -private partnership. Community Fund Proceeds Year l Year 2 Year 3 Year 4 Year 5 Year 6 Total $0 $0 $47,225 $97,284 $150,653 $151,568 $446,729 Board of Directors Mario Abati Francisco Rodriguez Executive Director Francisco Rodriguez 000020 New Urban International is committed to historic preservation and will dedicate up to 2% of gross revenues to the Preservation Fund of Miami. The Preservation Fund is a non-profit fund that focuses on historic properties within the City of Miami. The board consists of three members including Mario Abati and Francisco Rodriguez of NUI and a third board member appointed by the historic preservation board. The mission of the fund is to address immediate and long term renovation needs of iconic properties. Miami Historic Preservation The historic preservation program promotes the identification, evaluation, rehabilitation, adaptive use, and restoration of the City's historic, architectural, and archeological heritage. The preservation program is regulated in Chapter 23 of the City Code. The board established standards that encourage the retention and preservation of historic buildings by respecting architectural design, materials, and workmanship. Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Total Preservation Fund $0 $0 $47,225 $97,284 $100,435 $101,045 $345,989 Proceeds Board of Directors IFrancisco Rodriguez Mario Abati HEPB Appointee Executive Director Mario Abati 000021 nui New Urban International, LLC WWW.NUINTL.COM The New Urban Initiative was created by husband and wife philanthropists Mario and Ilanit Abati. After decades of volunteer work, they recognized that much more was needed to help communities and that business should take a more leading role. The Initiative aims to create an easily replicated business model and brand whereby a large majority of annual revenues are disbursed locally to create measurable changes in the areas of housing and food insecurity, special needs, and education. The Initiative's mission is to acquire cash flowing properties that provide a consistent stream of support to a communities most vulnerable population. The goal is have properties in the top 50 US markets with a stabilized annual cash flow of over $4 million with various asset classes including hospitality, apartments, retail, and office. Revenue is generated through gains it receives from real estate ventures in urban areas including capital events. Through ifs partnership, the Initiative will distribute 50% or more of all annual net operating proceeds to groups such as Feeding South Florida, Camillus House, Lighthouse for the Blind and more. The initiative raises capital through donations and crowdfunding sources and is managed by New Urban International. The Initiative also accepts real estate donations. liaxeaa NINsiaa Grown 491Ani Ltu. lK)1JsE NI) ;sn Community Services Ofy�LTti FICRICA SOUTH FLORIDA 1pCamillus House [n MCDONALD [-CHARITIES° 000023 NEW URBAN INITIATIVE NUI Miami, FL # of Properties Fort Lauderdale, FL # of Properties Orlando, FL # of Properties Atlanta, GA # of Properties Nashville, TN # of Properties Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total $1,200,000 $3,200,000 $4,000,000 $4,080,000 $4,161,600 $4,244,832 $4,329,729 $4,416,323 $4,504,650 3 8 10 10 10 10 10 10 10 0 0 $ 800,000 $2,000,000 $3,200,000 $4,000,000 $4,080,000 $4,161,600 $4,244,832 $4,329,729 0 0 0 8 10 10 10 10 10 $ 800,000 $2,000,000 $3,200,000 $3,264,000 $3,329,280 $3,395,866 2 5 8 10 10 10 0 0 $ 800,000 $2,000,000 $2,040,000 $2,080,800 2 0 5 8 10 0 $ 800,000 $2,000,000 2 5 $34,537,134 10 $26,816,161 10 $15,989,146 10 $6,920,800 10 $2,800,000 5 Mario and Ilanit Abati will be board members with a third to be determined. Mario Abati will also hold the position of Executive Director. The New Urban Initiative will maintain a high degree of transparency, accountability, and efficiency audits and annual filings with the IRS. Budgets are based on previous year revenues with operational budget limited to no more than 20%. Our ultimate goal is acquire and maintain 10 properties throughout the top 50 US markets with an estimated $4M in annually contributions to local markets. Miami Florida is the first Initiative with stabilization expected in 2022. The first five target markets are Miami, Fort Lauderdale, Orlando, Atlanta, and Nashville. nui New Urban International, LLC WWW.NUINTL.COM NUI NEW URBAN INTERNATIONAL New Urban International (NUI) is a real estate asset management company located in Miami Florida. NUI currently manages over 30 existing and construction projects in various stages of development throughout Coconut Grove, Little Havana, and Shore Crest in Miami. NUI is the exclusive asset manager and logistical advisor for New Urban Initiative and is tasked with managing all property operations in an efficient and effective manner. This starts with an intense focus on top and bottom line financial performance of properties located in the top markets throughout the Americas. NUI's executive team has been engaged in hospitality since 2001 covering every aspect of hospitality and other asset classes from acquisitions and dispositions to management and branding. To date, our team has managed over $350 million in hotel assets including the Sagamore Art Hotel in Miami Beach, Sheridan Riverwalk Tampa, Sheridan Yankee Clipper Fort Lauderdale Beach, the Coco Key Hotel and Water Resort in Orlando, Cambria Suites in Miami, Commodore Place Hotel, and more. In addition to real life experience and an industry pedigree, our executive team holds an extensive collegiate track record that includes multiple graduate degrees and certifications from highly reputable institutions. Mr. Abati holds multiple degrees including graduate degree in International Business from Florida International University along with a Master Certificate in Hotel Revenue Management from Cornell University. MISSION STATEMENT Our mission is to manage urban real estate projects with people, planet, and profit as our top priorities. HOTEL OPERATOR SONDER NUI will create a strategic partnership with experienced hospitality operators to include Sonder Hospitality. Sonder master -leases and/or manages entire buildings or blocks of floors representing over $1.6 billion of prime assets. Sonder fully designs and outfits its spaces and host clients for stays ranging from a few nights to several months. Backed by over $200 million in debt financing and venture capital from Silicon Valley's best and most visionary investors, Sonder is transforming the future of hospitality. Each Sonder is purposefully selected, designed and maintained - customized to reflect the vibe of its neighborhood. Whether your stay is two days, two months or two years, in a studio or a six -bedroom, Sonder ensures a unique, yet consistent experience. And with 24/7 on -demand service, crisp linens, and over 200 other quality standards, Sonder is taking stay further for guests all around the world. iDEKO THEATRE OPERATOR PRODUCTIONS NUI will create a strategic partnership with experienced theatre operators to include iDEKO Productions. iDEKO Productions is a full -service events and entertainment agency specializing in helping clients plan and produce large-scale events and marketing projects. The company focuses on innovative ways to create engaging live experiences for its clients. The agency aids clients through the entire event process from ideation to completion including planning, design, logistics, securing event permits, budgeting, production, custom fabrications and mobile marketing. iDEKO is a full service event production company capable of planning and producing small, medium and large scale events. From tenting and staging to lighting, A/V and music & entertainment, NYFF does it all in-house controlling every aspect of production and guaranteeing its seamless and flawless execution. Their philosophy of "doing it all ourselves" assures the best pricing and highest level of quality to their clients. iDEKOgov is a strategic consulting group specializing in government and community relations. iDEKOgov uses their expertise to help businesses across the United States navigate the complexities of municipal governments, with a strong focus on New York City. Their team has handled government operations and relations for projects across the spectrum from major sporting events and political visits, to community recovery from natural disasters. OLYMPIA TOWER & THEATRE DOWNTOWN MIAMI Questions or Comments? Mario Abati P: 305-788-0140 MarioAbati@NUIntLcom Francisco Rodriguez P:718-216-6150 FRodriguez@NUIntl.com New Urban International, LLC fU1 WWW.NUINTL.COM NUI