HANLEY WOOD HOUSING LEADERSHIP SUMMIT MAY 2015 Agenda Introduction - - PowerPoint PPT Presentation

HANLEY WOOD HOUSING LEADERSHIP SUMMIT MAY 2015

Agenda

I.

Introduction

II.

Fund I Investment: Aventura Isles

§

Timeline

§

Project overview

§

Time-lapse photos

ENCORE HOUSING OPPORTUNITY FUND RESCORE PROPERTY CORP

2

Tony Avila

§

Founder and CEO Builder Advisor Group (BAG)

§ 55 homebuilder M&A transactions § Capital raised for over 100 builders; more than $10B §

Co founder of Encore Capital Management

§ Three investment vehicles focused on residential home development § Over $1B in AUM § 2014 closings include:

§ 450 homes and lots § 657 apartment units § Gross homebuilding revenue of $254+M

ENCORE HOUSING OPPORTUNITY FUND RESCORE PROPERTY CORP

3

STRICTLY CONFIDENTIAL Encore Housing Opportunity Fund Rescore Property Corp 4

§ 148 acre property located in North Miami, FL § 20 minutes from down town Miami and Ft. Lauderdale § Operated through 2003 as an 18-hole golf course and tennis club ¡

Aventura Isles

Overview

STRICTLY CONFIDENTIAL Encore Housing Opportunity Fund Rescore Property Corp 5

Aventura Isles

Timeline

Year Status

2003 Property purchased by Falcone from Trump Brothers for $30M Golf course shut down 2005 Entitled and sold to TOUSA for $55M 63 single family homes, 512 townhomes and 250 condos 2006 Flipped to another builder for $100M 2010 Purchased from lender by Encore Fund I for $17M 2012 Encore began development and sales 487 single family homes, 166 town homes 2013 – present Sold 653 houses and town homes

Aventura Isles

Project Details

STRICTLY CONFIDENTIAL Encore Housing Opportunity Fund Rescore Property Corp 6

§ Gated community with club house and swimming pool § Pristine lakes and natural preserves § Over 37 acres of parks with walking and jogging trails § Residences range from 1,400-2,350 square feet § 487 single family homes § 3 series with 4 floor plans each § 166 town homes § 4 floor plans ¡

Aventura Isles

Products

STRICTLY CONFIDENTIAL Encore Housing Opportunity Fund Rescore Property Corp 7

Type Model Priced From ($) Bedroom Bathrooms Garage Square Feet Townhomes Azalea 290k 3 2.5 1 1,653 Hibiscus 290k 3 2.5 1 1,659 Jasmine 290k 3 2.5 1 1,644 Orchid 290k 4 2.5 1 1,752 Island Homes Amelia 300k 3 2.5 1 1,537 Bermuda 300k 3 2.5 1 1,641 Captiva 300k 4 2.5 1 1,777 Sanibel 300k 4 2.5 1 1,869 Caribbean Homes Antiqua 350k 3 2.5 1 1,635 Barbados 350k 3 2.5 1 1,749 Cayman 350k 4 2.5 2 1,912 San Lucas 350k 4 2.5 2 1,985 Jewel Homes Marquis 380k 4 2.5 1 1,885 Sapphire 380k 4 2.5 2 1,985 Emerald 380k 4 2.5 2 2,154 Diamond 380k 5 3 2 2,347

Aventura Isles

Pricing

STRICTLY CONFIDENTIAL Encore Housing Opportunity Fund Rescore Property Corp 8

§ $120/SF to $130/sf and $225,000 to $300,000 for single family in 2012 § $150/SF to $175/SF and $325,000 to $450,000 in 2014 § Increase of $30/SF to 445/SF and $100,000 to $150,000 over a period of two years

Aventura Isles

March 2011

STRICTLY CONFIDENTIAL 9 Encore Housing Opportunity Fund Rescore Property Corp

Aventura Isles

August 2012

STRICTLY CONFIDENTIAL 10 Encore Housing Opportunity Fund Rescore Property Corp

Aventura Isles

December 2012

STRICTLY CONFIDENTIAL 11 Encore Housing Opportunity Fund Rescore Property Corp

Aventura Isles

July 2013

STRICTLY CONFIDENTIAL 12 Encore Housing Opportunity Fund Rescore Property Corp

Aventura Isles

October 2013

STRICTLY CONFIDENTIAL 13 Encore Housing Opportunity Fund Rescore Property Corp

Aventura Isles

January 2014

STRICTLY CONFIDENTIAL 14 Encore Housing Opportunity Fund Rescore Property Corp

Aventura Isles

August 2014

STRICTLY CONFIDENTIAL 15 Encore Housing Opportunity Fund Rescore Property Corp

Aventura Isles

March 2015

STRICTLY CONFIDENTIAL 16 Encore Housing Opportunity Fund Rescore Property Corp