The Oaks at Hidden Harbour
In October, 2009 13th Floor Investments acquired a note from Regions Bank collateralized by a partially completed  luxury waterfront residential community consisting of 27 townhomes and 12 single family homes and a marina located in Dania Beach, Florida.  The community was designed in a Mediterranean style and sits on 8.5 acres with direct access to the Atlantic Ocean.   13th Floor intends to complete the remaining construction work and begin renting and selling units at a significant discount to the original retail pricing of $500,000 per residence.

Caribe Homes – Homestead Portfolio
In November 2008, 13th Floor acquired 107 newly-constructed condominiums, single family homes and townhouse units in Homestead, FL. The properties were purchased from Caribe Homes and are located within four planned communities within the Oasis and Vineyards communities. In business for almost twenty years, Caribe Homes is recognized as one of South Florida’s premier, family-owned new home builders.

Homestead Lots
In December 2008, 13th Floor formed a joint-venture with Caribe Homes to acquire 556 vacant developed lots in Homestead, FL. The venture represents a unique opportunity to own finished developed lots in the high barrier-to-entry market of South Miami-Dade County at prices below improvement costs.

Vista del Rio
In May 2009, 13th Floor acquired a note from Banco Popular collateralized by an intact, seven-story, 60-unit, multi-family apartment building located in the Little Havana neighborhood of Miami, Florida. The property is just blocks from downtown Miami and the I-95 expressway, and a short drive to Brickell Avenue and Jackson Memorial Hospital. While originally intended for sale, the building will be operated as a rental. 13th Floor is pleased to be working in collaboration with the original development team towards a friendly foreclosure.

Altos de Miami
In February 2009, 13th Floor teamed up with VH Holdings to acquire and manage the remaining inventory of Altos de Miami from Lehman Brothers at a foreclosure sale. The project  consists of 56 out of 135 condominium units in the heart of Little Havana in Miami, FL. Through an aggressive hybrid sales and leasing program, the tea has been able to stabilize the asset and re-establish Altos as an urban residence of choice in Miami. As a result of the team’s combined efforts, the Altos HOA budget is currently on its way to performing under budget.

Enclave at Blackpoint Marina
In June 2009, 13th Floor purchased the note, mortgage and rights to a 240 lot residential development from Regions bank. The property consists 46 partically improved homes (19 completed homes and 27 unfinished homes) and 194 fully developed and finished vacant lots, located in southern Miami-Dade County, Florida. Originally selling for over $300,000 per home, Enclave represents a rare opportunity to own beautiful homes for a fraction of retail price. Situated at the end of historic Old Cutler Road, Enclave enjoys tremendous accessibility and visibility to the turnpike.

Value Homes
13th Floor has established a stand-alone division to acquire and manage distressed single family, townhome, and condominium product throughout Miami-Dade and Broward Counties. Using our expanded network of brokers, bankers and foreclosure experts to identify distressed residential purchase and sale opportunities, we are on track to purchase over 200 residences by the end of 2009. Homes are analyzed based on current income yield as well as potential capital appreciation. Typical transactions are acquired from banks and at public auction. Following purchase, homes will be repaired as required and aggressively marketed for rent. Homes are expected to be sold as market conditions improve over the next 24 – 36 months.