1. R E S I D EWHERE THE BAY MEETS THE CITY

2. STAY CONNECTEDBE IN THE MIDDLE OF IT ALL 3. W YN WOODM IDTOWNS O U T H O F FIFTHSOUTH B EAC HD OWNTOW NB RIC K ELLAR TS &EN TER TAIN M EN TD IS TRICTM AGNOL IA PARKD ES IGN D IS TRICTEAS T ED GEWATERED G EWATERSEE LEGAL DISCLAIMER ON BACK PAGE 4. DESIGN DISTRICTHome to the most recognized names in fashion, Miamis ownRodeo Drive has become the top destination for those lookingfor fine cuisine, bespoke design studios and luxury retail.WYNWOODWith more art galleries than one can imagine, the richness ofthis neighborhood lingers for miles across the walls intersectingcontemporary boutiques, trendy eateries and hip nightlife.THE BEACHESJust a few miles across the causeway to sapphire waters, thecosmopolitan and the casual mystically combine in the art decodesign of world-renowned restaurants, star-studded nightclubsand other entertainment venues.DOWNTOWNThe mix of skyscrapers, restaurants, arenas and museums hasnever been more picturesque. Proving that business and pleasuremake for a perfect marriage, Downtown reigns supreme.MIDTOWNIn the midst of the hustle and bustle of the city, youll find this multiplexcenter for popular restaurants and retail stores, making it one of thecitys main corridors.ENTERTAINMENT DISTRICTInfusing the city with its vibrant pulse is this cultural hub thatincludes the Miami City Ballet, the Florida Grand Opera, theAdrienne Arsht Performing Arts Center and the new Perez ArtMuseum Miami, all along the waters of Biscayne Bay.SEE LEGAL DISCLAIMER ON BACK PAGE 5. Q :Who is behind this development? DACRA- Founded by CEO CraigRobinsin 1987,Dacrawasan earlypioneer in the revitalization of Miami'sSouth Beach,aswell asin therestoration and preservation of itsArtDeco architecture.Lincoln Road andthe South Beach Fashion District-twoneighborhoods in which Dacraplayeda significant role in redeveloping-haveboth experienced tremendoussuccess..Giorgo Armani, Givenchy, Hublot, IWC, Loewe, Marc Jacobs, Miu Miu,Panerai, Parmigiani, Piaget, Tag Heuer, Tiffany & Co., Tom Ford, Tods,Valentino,Van Cleef &Arpels,and Ermenegildo Zegnaamongothers.Q :When will the new developmentbegin to open?Fall 2014!!!Q :What architects are par ticipating in thenew development? Aranda/Lasch,Duany Plater-Zyberk &Company,Sou Fujimoto,IslandPlanningCorporation,K/R,LeongLeong,Johnston Marklee,IwamotoScott and MOSArchitectsQ :What brands can we expect to see in the Miami Design Districtsnew development? 6. 95RESORTS WORLD MIAMI3 min, 1.1 milesA1AA1AYOUNG ARTSFOUNDATION2 min, 0.4 miles959689PUBLIC SCULPTUREAND ART PARKMARGARET PACE PARK3 min, 0.9 milesBAYFRONT PARK5 min, 1.9 milesBAYSIDEMARKETPLACE5 min, 1.7 milesBRICKELL CITY CENTER7 min, 2.8 milesMARY BRICKELL VILLAGE8 min, 3.1 milesBRICKELL FINANCIAL DISTRICT9 min, 3.3 milesSOUTH BEACH12 min, 5.7 milesMARLINS PARK8 min, 3.8 milesDOWNTOWNMIAMIATLANTICOCEANTROLLEYROUTE95MIAMI DESIGNDISTRICT2 min, 0.8 miles112SHOPS ATMIDTOWN3 min, 1.1 miles1836A1A195ADRIENNE ARSHT CENTER3 min, 1.1 miles39527419PREZ ART MUSEUM4 min, 1.5 milesMIAMI INT. AIRPORT12 min, 7.5 milesMUSEUM OF SCIENCE4 min, 1.4 milesAMERICANAIRLINES ARENA5 min, 1.7 milesMIAMI BEACH13 min, 6.3 milesWYNWOODART DISTRICT3 min, 0.7 milesSEE LEGAL DISCLAIMER ON BACK PAGE 7. THE NEW MIAMI IS EMERGINGNOW TRULY A WORLD CLASS CITY ION EAST EDGEWATER IS CONNECTED TO IT ALL 8. Histo ric ally, Miam i has been renow ned for its stunning b eac hes, internatio nal financ e, and no n- sto pnig htlife. Tod ay, however, p eo p le from all over the wo rld are c hoo sing Miam i as the ultim ated estinatio n in w hic h to live in term s of c ulture, ind ustry, and enter tainm ent. The c ity has been lab eledas the Wall Street of the So uth for its b usiness and com m erc e reac h into Latin Am eric a, theCaribbean, So uth Am eric a, and b eyo nd. With the d irec t ocean ac c ess via Governm ent Cut, the Po r tof Miam i is not o nly p ic turesq ue, b ut vital to the reg io n and the state. Peo p le flo c k to the c ityto take par t in the festivities and exhib its of Ar t Basel in Dec em b er; the Coconut Grove Ar ts Festivalin Feb ruary; and the So ny Op en Tennis To urnam ent eac h Marc h o n Key Bisc ayne. Throug ho utPrez Art Museum Miami American Airlines Arena in Downtown MiamiPatricia and Phillip Frost Museum of ScienceAdrienne Arsht Performing Arts Centerthe rest of the year, b oat shows, fitness c halleng es, food and w ine festivals, and more at trac t anaud ienc e from d ozens of countries. And, w ith rec ent ad d itio ns suc h as the Arsht Center for thePer form ing Ar ts, The Perez Ar t Museum, the Frost Museum of Sc ienc e, Am eric an Airlines Arena,Mary Bric kell Villag e, and the upcom ing hig h- speed rail servic e All Ab oard Flo rid a connec tingMiam i to other key Flo rid a c ities suc h as Orland o and Tam pa, Miam i now has the at tentio n of theentire wo rld for its ever- g row ing d iversity, internatio nal c uisine, hig h- end shopp ing, and wo rld- c lassenter tainm ent...m aking Miam i syno nymo us w ith cosmopo litan c ity living.All Aboard Florida Port of MiamiMiami World CenterBrickell City CenterMiami The New Capital of International InterestSEE LEGAL DISCLAIMER ON BACK PAGE 9. INTRODUCING ION EAST EDGEWATERHIGH DESIGN AT PRICES YOU CAN LIVE WITH 10. SEE LEGAL DISCLAIMER ON BACK PAGE 11. SEE LEGAL DISCLAIMER ON BACK PAGE 12. EAST EDGEWATERTHE BIRTH OF MIAMIS HOTTEST NEW NEIGHBORHOOD INCLUDING APUBLIC SCULPTURE AND ART PARK - WITHIN STEPS OF ION East EdgewaterOne of the highlights proposed in the park design is there will be outdoor sculptures byaccomplished local and international artists including Cuban artist Jose Bedia Valdes andArgentinian artists Carolina Sardi and Eugenio Cuttica.SEE LEGAL Proposed renderings and artists of public sc ulpture and art park by neighboring developer. This is not intended to be used as a c ontract doc ument. DISCLAIMER ON BACK PAGEThis is c onceptual and any and all elements of it may be revised as per further coordination and information is made available. 13. RESORT LIVING COMES HOMEESCAPE FROM THE CITY 14. COMING HOME LOBBY/MAILROOM LOUNGE/BUSINESS CENTER MEET YOUR NEIGHBORS BEFORE RETREATING TO YOUR HOME 15. SEE LEGAL DISCLAIMER ON BACK PAGE 16. SEE LEGAL DISCLAIMER ON BACK PAGE 17. SEE LEGAL DISCLAIMER ON BACK PAGE 18. SEE LEGAL DISCLAIMER ON BACK PAGE 19. SEE LEGAL DISCLAIMER ON BACK PAGE 20. The 75 foot pool, Jacuzzi and reflecting pond repeat the cascading water effect as shown on the sides of the building.SEE LEGAL DISCLAIMER ON BACK PAGE 21. SEE LEGAL DISCLAIMER ON BACK PAGEDive In Movie Theatre is super unique 22. The communal fire pit and summer kitchen all add to IONs uniqueness of a private community where you canentertain all within IONs 8th floor deck. Walled hedges with windows provide intimacy. SEE LEGAL DISCLAIMER ON BACK PAGE 23. Mood shots of materials in party room/lounge SEE LEGAL DISCLAIMER ON BACK PAGE 24. SEE LEGAL DISCLAIMER ON BACK PAGE 25. FAMILY RECREATION ROOM 26. SEE LEGAL DISCLAIMER ON BACK PAGE 27. SEE LEGAL DISCLAIMER ON BACK PAGE 28. ROOFTOP SKY LOUNGE SEE LEGAL DISCLAIMER ON BACK PAGE 29. SEE LEGAL DISCLAIMER ON BACK PAGE 30. ROOFTOP SUNSET LOUNGE SEE LEGAL DISCLAIMER ON BACK PAGE 31. VIEWSENJOY THE CITY AND THE BAY 32. SEE LEGAL DISCLAIMER ON BACK PAGE 33. SEE LEGAL DISCLAIMER ON BACK PAGE 34. SEE LEGAL DISCLAIMER ON BACK PAGENORTHEAST VIEW 35. SOUTH VIEWSEE LEGAL DISCLAIMER ON BACK PAGE 36. SEE LEGAL DISCLAIMER ON BACK PAGESOUTH VIEW 37. TEAMTRULY A GLOBAL A TEAM 38. DEVELOPER TEAMTH E DEVELOPERION EAST EDGEWATER is b eing d evelo p ed by Edgew ater Miam i, LLC, w hic h is an entit y form ed by af filiates of SAKOR Developm entLLC and Encore Ho using Op p o r tunit y Fund. SAKOR Developm ent, LLC is a p ar tnership of two real estate industry veterans,Barb ara Salk and Step hen Ko rnfeld, eac h w ith ex tensive So uth Flo rid a exp erienc e in a d iversit y of larg e g round - up d evelopm entp rojec ts. Their com b ined d evelopm ent and ex tensive construc tio n exp erienc e sp an successful c areers that b ring over 75 yearsof exp er tise to their p rojec ts. Addito nally they have collab o rated o n several p rojec ts inc lud ing the land assem bly and zoningapprovals for Icon Palm Beac h (150 unit p rojec t in West Palm Beac h, FL) and the m ec hanic al and p lum b ing for Cit y Plac e So uthTower (420 unit p rojec t in West Palm Beac h, FL).Encore Ho using Op p o r tunit y Fund is an opp o r tunistic real estate fund m anag er w hic h invests in resid ential real estate, w ithof fic es in Flo rid a and Califo rnia. Encore is a seaso ned resid ential real estate d evelopm ent and investm ent firm , w ith landac q uisition, d evelopm ent, and construc tion c ap ab ilities in- ho use. Enc ore operates two opp or tunistic funds and one p rivate REIT,w hic h w hen fully d ep loyed, are antic ip ated to have in exc ess of $ 1B AUM. Encore c urrently has investm ents in Miam i, Orland o,Jac kso nville, Tam p a, Dallas, Lo s Ang eles, Sac ram ento, Pho enix, and San Franc isc o. The lead ership of Encore is also invo lved inMiam i Wo rldcenter, o ne of the larg est urb an m ixed use p rojec ts in the country.B a rb a ra Salk , Pr in c ip alMs. Salk b ring s 25 years of m ulti- d isc ip lined real estate exp erienc e w ith the last 15 years focused m ainly in d evelopm ent, salesand leasing of residential and com m erc ial pro p er t y.Ms. Salk served as o ne of The Related Groups most senio r cond om inium d evelo p ers in Flo rid a for 11 years and has overseenall d isc iplines of several residential pro je c ts representing over $ 1 billio n in value and 2,000 units. Her com prehensive exp erienc eex tends from land ac q uisition and underw riting p ro jec t transac tions to the full d evelopm ent and sales p rogram for a condom iniumo r m ixed - use p rojec t. Her local relatio nship s w ith contrac to rs and vend o rs p rovid e invaluab le insid er, g round - level intellig enc e andfavo rab le p ric ing. In 20 0 9 d uring the m arket d ow ntow n, Ms. Salk led asset m anag em ent team s in unp rec ed ented cond om iniumc lo sing s in two d istressed subm arkets fo r two larg e b ank synd ic ates encom passing 12 lend ing institutio ns.Prio r to The Related Group, Ms. Salk w as em p lo yed by J. E. Ro b er ts /Arc ho n Group (a sub sid iary of Go ldm an Sac hs) for 8 yearsw here she oversaw the p hysic al d ue d ilig enc e and neg otiated approp riate p ric ing ad justm ents for approxim ately $ 18 b illio n inlo an and real estate p o r t folio acquisitio ns. She also assisted in neg otiatio ns for environm ental and c ap ital fund ing ad justm entsw ith lend ers and rating ag enc ies o n transac tio ns totaling over $ 3.5 b illio n in p roceed s.St e p hen Ko rn fe ld , Pr in c ip a lMr. Ko rnfeld is the third g eneratio n of his fam ily in the construc tio n ind ustr y, p ar tic ip ating in the d evelopm ent and construc tio nof m ajo r p rojec ts wo rldw id e, m any of w hic h are located in So uth Flo rid a. He is p ar tic ularly w ell know n and respec ted in theMec hanic al, Plum b ing and Elec tric al contrac ting field s having p er form ed wo rk throug h his com p anies o n some of the larg est andcom p lex p rojec ts b uilt in rec ent histo ry. He has a lo ng and successful histo ry in the internatio nal construc tio n w o rld as well. Hefirst d evelo p ed p rojec ts in his early twenties in the US Virg in Island s w here he conc eived and b uilt well over a tho usand units ofho using for locals und er g overnm ent assisted p rog ram s.Mr. Ko rnfeld s MEP com p anies have com p leted assig nm ents for some of the larg est p rojec ts in New Yo rk, inc lud ing The Wo rldFinanc ial Center (3 tow ers, eac h 2 m illio n sf), IBM Wo rld Headquar ters, AT&T, Go ldm an Sac hs and General Food s, the 2,000 - b edNY Presbyterian Ho sp ital and 2,000 - b ed additio n to the NY Mo unt Sinai Ho sp ital.Mr. Ko rnfeld g rew w hat w as a sm all fam ily b usiness into a cong lomerate of sp ec ialt y com p anies, w hic h w as so ld in 20 11 to Tuto rPerini Corp oration.In 20 0 4, Mr. Ko rnfeld and p ar tners p urc hased Nag elb ush Mec hanic al in So uth Flo rid a. Throug h his Flo rid a com p any, Mr. Ko rnfeldhas com p leted the m ec hanic al and p lum b ing for over 20 of the m ajo r hig h- rise p rojec ts rec ently b uilt in the Miam i area.Barb ara SalkPrincip alStephen Ko rnfeldPrincip alSEE LEGAL DISCLAIMER ON BACK PAGE 39. DEVELOPERS PROJECT HISTORYBar bar a Salk, a s Senior Developer o f The Related GroupCityPlace - Sout h To w e r 1West Palm Beach, FloridaThe SladeWest Palm Beach, FloridaCityPlac e Condominium ConversionWest Palm Beach, Florida2 0 8 0 Ocean DriveHallandale Beach, FloridaThe PradoWest Palm Beach, FloridaVilla Lof tsWest Palm Beach, FloridaSEE LEGAL DISCLAIMER ON BACK PAGE 40. DEVELOPERS PROJECT HISTORYUniversi t y RiverviewBronx, New York8 0 B r oad StreetStamford, Connect icutBaryshnikov Art s CenterNew York, NYF reedom Towe rNew York, NYStephen Kornfeld, a s DeveloperThe Marq u i s Condominium& HotelMiami , FloridaPar amoun t BayMiami , FloridaSt. Regi s Bal HarbourBal Harbour, FloridaSEE LEGAL DISCLAIMER ON BACK PAGEStephen Kornfeld, a s Special t y M&P Cont rac tor 41. ARQUITECTONICAAr c h it e c tArq uitec to nic a is an arc hitec ture, interio r d esig n and p lanning firm that b eg an in Miam i in 1977 as an exp erimentalstud io. Led by Bernard o Fo r t-Bresc ia and Laurind a Sp ear, the stud io has evo lved into a wo rldw id e p rac tic e, com b iningthe c reative sp irit of the p rinc ip als w ith the ef fic iency of d elivery and reliab ilit y of a m ajo r arc hitec tural firm.To d ay Arq uitec to nic a has a p rac tic e ac ro ss the United States d irec ted from reg io nal of fic es in Miam i, New Yo rkand Lo s Ang eles. Arq uitec to nic as internatio nal p rac tic e is sup p o r ted by a Euro p ean reg io nal of fic e in Paris; Asianreg io nal of fic es in Ho ng Ko ng , Shang hai and Manila; the Mid d le East reg io nal of fic e in Dub ai; and Latin Americ anreg io nal of fic es in Lim a and So Paulo.Sinc e its fo und ing in 1977, Arq uitec to nic a has wo n numero us Americ an Institute of Arc hitec ts and Pro g ressiveArc hitec ture Desig n Award s. The firm has been named the AIA Flo rid a Firm of the Year, and in testimony to thelo ngevit y of the firms wo rk, Arq uitec to nic a wo n the AIA Test of Time Award fo r the Banc o d e Cred ito Headquar ters,The Atlantis cond om inium and the Pink Ho use. Arq uitec to nic a has wo n more than 20 0 total award s fo r its iconicd esig ns. The firms wo rk has been featured in more than 5,000 natio nal and internatio nal p ub lic atio ns suc h as Time,New sweek, Life, Fo r tune and Business Week, as well as numero us p rofessio nal jo urnals suc h as Arc hitec turalRecord, Pro g ressive Arc hitec ture, Arc hitec tural Desig n, Dom us, Glo b al Arc hitec ture, LArc hitec ture Daujo urdhui,Ab itare and Huser.Arq uitec tonic as work sp ans several c ontinents, from p ro jects suc h as sc ho o ls and universities, resor ts andcasino s, hotels, luxury cond om inium towers, retail c enters and of fic e b uild ing s to sp ec ialized p ro jec ts suc h as aU.S. Em bassy, o p era ho use / sym p ho ny halls, m useum s, cour tho uses, m ultip urp o se arenas and conventio n c enters,airp or ts and transp or tation c enters, television stud ios and several b ank headquar ters.Insp irat ion fo r b uild ing ...The b uild ing is a metap ho ric al m ap of the uniq ue lo c at io n of the p ro p er ty. The w estern p o r t io n of the b uild ingrep resents the Miam i/ Edgew ater area and the eastern p o r t io n rep resents Miam i Beac h. The tw o areas are jo inedtogether by Bisc ayne Bay flow ing b etw een them. As the b uild ing is turned up rig ht, the Bay turns into a sensualc asc ad ing w ater fall and b ec omes a landm ark lig hted b eac o n at nig ht fo r all to enjoy.Bernard o Fo r t-Bresc ia, FAIA Casc ad es at East EdgewaterIcon Brickell Condominium + Brickell CitiCentre American Airlines Arena Canyon Ranch Hotel, Spa Banco Wiese 500 Brickell CondominumViceroy Resort Brickell, Florida Miami, Florida and Residences Lima, Peru Miami, FloridaMiam i Beach, Flo rid aSEE LEGAL DISCLAIMER ON BACK PAGEMiam i, Florid a 42. HIRSCH BEDNER ASSOCIATESIn t e r io r De s ig n e rHirsh Bed ner Associates b ring s hotel c hic d esig n to Sp ec tra at East Edgew ater. Wo rld - renow ned as the Num b er1 Ho sp italit y Desig n Firm and ho no red in 20 13 by the Go ld Key Award s, Ho sp italit y Desig n, Persp ec tive Award s,the Bo utiq ue Desig n Aw ard s and the Europ ean Hotel Desig n Aw ard s ; HBA/Hirsc h Bed ner Associates, unveils thewo rlds most antic ip ated hotels, reso r ts, and sp as. Lead ing the hotel d esig n ind ustry sinc e 19 65, HBA rem ainskeenly at tuned to the p ulse of c hang ing ind ustry trend s g overned by to d ays sophistic ated traveler.The com p anys internatio nal p resenc e, d ep th of exp erienc e, and d etailed ind ustry know ledge enab les them toid entify interio r d esig n trend s at their so urc e, m ake d efinitive p red ic tio ns ab o ut new d irec tio ns and innovatio ns,and influenc e d esig n stand ard s at a g lo b al level. HBAs ultim ate o b jec tive is to ad d value, raise stand ard s andenhance the b rand of a p ro jec ts ow ner and operato r.HBA c reates the sig nature lo o ks of to d ays luxury b rand s, ind ep end ent contem p o rary b o utiq ues, urb an reso r tsp as, wo rld - c lass resid enc es, restaurants, casino s, and c ruise ship s. From continent to continent, eac h HBAinterio r is the result of a uniq ue and sensitive resp o nse to locatio n, arc hitec ture, and c lient visio n. With over 1,20 0d esig ners around the g lo b e in 16 of fic es and a rec ent exp ansio n in several locatio ns in Asia, HBA is a true g lo b alcom p any w ith more than 75% of its em p loyees now o utsid e the United States. HBAs internatio nal p resenc e,com b ined w ith its ex tensive know ledge of the interio r d esig n ind ustry, has fac ilitated the ab ilit y to rew rite thelang uag e of d esig n w ith eac h new p rojec t.HBA has of fic es in Lo s Ang eles, Atlanta, San Franc isc o, Lo nd o n, Ho ng Ko ng, Beijing, Shang hai, To k yo,Sing ap o re, Melb o urne, New Delhi, Dub ai, Mo sc ow, Istanb ul, Bang ko k and Manila.Fo ur Seaso ns Hotel, Guangzho uGre g Bates, NCIDQMandarin Oriental, Miam i Mand arin Oriental, New Yo rkTim e Warner CenterJW Marriott Hotel BeijingThe Reef Atlantis Park Hyat t Hyd erabadMandarin Oriental, Washing to nDCSEE LEGAL DISCLAIMER ON BACK PAGE 43. SALIENT POINTS: RESORT LIVING COMES HOME NUMBER ONE HOSPITALITY DESIGNER INTHE WORLD UNIQUE OPPORTUNITY:HIGH DESIGN -AT PRICES YOU CAN LIVE WITH CONNECTIVITYWHERE THE BAY MEETS THE CITY ESTABLISHED GLOBAL A TEAMDELIVER QUALITY WITH LOCAL EXPERTISE 44. Oral representatio ns c annot be relied upo n as c o rrec tly stating the representatio ns of the Develo per. Fo r c o rrec t representatio ns, reference sho uld be made to the do c uments req uired by sec tio n 718.503, Flo rid a Statutes, to be furnished aDevelo per to a buyer o r lessee. This offering is m ade o nly by the pro spec tus fo r the c o ndom inium and no statement sho uld be relied upo n if no t made in the pro spec tus. This is not an offer to sell, o r so lic itatio n of offers to buy, the c o ndom iniumunits in states w here suc h offer o r so lic itatio n c annot be m ade. Pric es, p lans and spec ific atio ns are subjec t to c hange w itho ut notic e. This co ndom inium is being develo ped by Edgewater Miam i, LLC, a Flo rid a lim ited liab ilit y c om pany (theDevelo per ), w hic h has a lim ited rig ht to use the tradem arked names and lo gos of Enc ore Ho using Oppo rtunit y Fund pursuant to a lic ense agreement with Encore Housing Opportunity Fund. Any and all statements, disc losures and /orrepresentatio ns shall be deemed m ade by the Develo per and not by Enc o re Ho using Oppo rtunit y Fund or any other part y, and potential o r ac tual purc hasers shall lo ok so lely to the Develo per (and not to Enc o re Ho using Oppo rtunit y Fund and / orany of its affiliates) w ith respec t to any and all m at ters relating to the m arketing and /o r develo pm ent of the c o ndom inium and w ith respec t to the sales of units in the c o ndominium. The g raphic s and text reflec ted are the c o pyrig hted pro pert y of theDevelo per. The rendering s illustrate and dep ic t the sp irit of a lifest yle; however, amenities and at trac tio ns of the c o ndom inium are subjec t to c hange. While there are water views at the pro pert y, views may vary. The restaurant is subjec t to theDevelo per o btaining all nec essary and appro priate perm its, no ne of w hic h have been o btained. Any restaurant is intended to be privately o perated by a third part y o perato r from a c om merc ial spac e.