2016

April 30, 2016

April 30th, 2016

Nova Southeastern University, Davie FL

Masters of Science in Real Estate Graduate Program

2016 NAIOP COLLEGIATE CHALLENGE

Dear Attendees and Participants:

On behalf of the NAIOP South Florida we welcome you to the NAIOP South Florida

Collegiate Challenge (“NCC”). The NCC has been designed to allow the graduate

students from Nova’s MSRED program to engage in a spirited competition regarding

real estate development in South Florida. Our belief is that the program is too valuable

to the education of local students and to the South Florida real estate community to not

provide the framework for your real estate education; therefore, this spring we have

partnered with Nova Southeastern University.

One of Florida’s premier commercial real estate organizations, Miller Construction

Company, has very generously presented the case study this year and is our primary

sponsor. We are very fortunate to have their support for the 2016 competition.

With the NCC, we hope that the experience will be one of the best learning experiences

in your academic life. The plan and vision for the project is directed by you the students.

We anticipate great things from each of the competing teams of students, and

consequently believe that all will benefit, regardless of the outcome of the competition.

We look forward to seeing all of you on April 30th, 2016 for the NAIOP Collegiate

Challenge Presentations in the morning and the Awards Event that evening. Have fun!

NAIOP South Florida extends an invitation to June 2 networking event at Stache for

evening of celebrating and networking. We hope you can join us, please RSVP to

alba.garcia@naiopsfl.org

Kindest Regards,

Jules R. Morgan Erik Lembcke Executive Director First Republic Bank NAIOP South Florida Chair Collegiate Challenge

2016 Executive Committee Kyle Jones

Stiles Corporation President Traci Miller

Miller Construction Company Immediate Past President Greg Martin

Avison Young President Elect Evan Brody Brody and Associates Eric Swanson Treadwell Franklin Marc Kopelman

Raymond James Financial Treasurer Joyce Werzer Legacy Bank of Florida Secretary Darcie Lunsford Butters Construction V.P. Programs 2016 Board of Directors Dan Cioci Advanced Insurance Underwriters, LLC

Heidi Davis-Knapik Gunster Chris Gallagher Duke Reatly Ben Genet Genet Property Group Clint Glass

John Moriarty & Associates of Florida. Scott Gregory Prologis Jonathan Guffey

Liberty Property Trust Alex Gulick

Procacci Development Corporation Alfie Hamilton Colliers International South Florida, LLC Susan Imbrigiotta City National Bank Fred Kaub GFA International, Inc Brian Latta Bridge Development Partners Erik Lembcke

First Republic Bank Ryan Nee

Marcus & Millichap George Pincus

Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson Michael Silver

CBRE Chris Sutton

Flagler Global Logistics Bob Swindell

The Greater Fort Lauderdale Alliance

Table of Contents SCHEDULE OF EVENTS ................................................................................................................................... 4

EXECUTIVE SUMMARY .................................................................................................................................. 5

CASE STUDY ................................................................................................................................................... 8

CASE STUDY SURVEY ..................................................................................................................................... 9

GOVERNANCE ............................................................................................................................................. 10

SVSG CONSULTANTS ................................................................................................................................... 13

SVSG CONSULTANTS EXECUTIVE SUMMARY .............................................................................................. 14

SVSG CONSULTANTS TEAM BIOGRAPHIES .................................................................................................. 16

BOSCOLO PARTNERS LLC ............................................................................................................................ 17

BOSCOLO PARTNERS LLC EXECUTIVE SUMMARY ....................................................................................... 18

BOSCOLO PARTNERS LLC TEAM BIOGRAPHIES ........................................................................................... 19

TARPON SHOPPES AND OFFICES ................................................................................................................. 20

TARPON SHOPPES AND OFFICES EXECUTIVE SUMMARY ........................................................................... 21

TARPON SHOPPES AND OFFICES TEAM BIOGRAPHIES ............................................................................... 23

JUDGES BIOGRAPHIES ................................................................................................................................. 27

NOTES.......................................................................................................................................................... 34

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Schedule of Events

Saturday, April 30th 2016

Miller Construction HQ – 614 S. Federal Hwy, FTL, FL 33301

8:30 am Arrival of Students & Judges

9:00 am Team 1 – SVSG Consultants Presentation

9:20 am Team 1 Q&A

9:50 am Team 1 Judge’s Discussion

10:00 am Team 2 – Boscolo Partners LLC Presentation

10:20 am Team 2 Q&A

10:50 am Team 2 Judges Discussion

11:00 am Team 3 - Tarpon Shoppes & Office Presentation

11:20 am Team 3 Q&A

11:50 am Team 3 Judge’s Discussion

12:15 pm Judge’s Presentations Conclude

NOVA SE Student Center (Davie Campus) – Flight Deck

4:30 pm Cocktail Reception

5:15 pm Awards Presentation

6:00 pm Cocktail Reception Concludes

Thursday, June 2nd, 2016 from 5:00 to 7:00 pm

NAIOP South Florida Developing Leaders Networking Reception

Stache – 109 SW 2nd Ave, FTL, FL 33312

Please be sure and RSVP to alba.garcia@naiopsfl.org

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EXECUTIVE SUMMARY

NAIOP SOUTH FLORIDA’S COLLEGIATE CHALLENGE

Mission of the Collegiate Challenge Program

The mission of the Collegiate Challenge is to provide unique and valuable industry exposure to college students in a competitive and realistic environment. The spirit of the program is to provide positive exposure and experience for all involved and to provide a “real world” experience for the students.

General Outline of the Program

The student teams from the NSU MSRED program will evaluate one specific development site to a group of judges. The team submittals will be evaluated based on their financial analysis and economic feasibility, property and market analysis, development strategy, design viability, entitlement viability, and the quality of the written support of their submission. The students will also make an oral presentation to the judges and will be evaluated based upon their organization of the presentation, their knowledge of the topic, their persuasiveness and their ability to support their program by answering questions.

The submittals will be done completely by the students utilizing their research, their knowledge base, access to public records, and access to professionals in the industry. The students will also have the ability to utilize whatever outside resources they can gain access to in order to present their submittal. Any professionals utilized will be directed by the students. The professionals will interact with the students as they would with a professional developer. It is extremely important to allow the development program to be created and developed by the students. It is also significant that the design element and the public presentation is only a part of the submittal, not the primary focus. More significant is the quality of the financial and market analysis, the viability of the execution of the proposal, and the overall sensibility of the proposal.

Case Study

The case study was selected by the NCC Committee based on the merits of the study:

1. Comprehensive nature of the opportunity, requiring analysis on a variety of fronts 2. Reality of the opportunity – study is not a “look-back”, but is a real project that could

be developed today. 3. Location within South Florida for relative easy access by the students

The developer providing the case study will be willing and available to discuss the project with the student teams. The more open and honest the owner of the study opportunity is with the students, the more viable the submittals will be for consideration by the owner to execute.

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The Student Teams

The ultimate submittal and presentation should be made by teams of approximately four to six students. In this year’s competition, the competition is an accredited class within Nova’s MSRED program. It is anticipated the competition will be a quality teaching experience and the professor will help guide the students through the development of the submittals. The more emphasis that is placed on professional quality and reality of the submittal, the more the competition becomes a true learning experience.

Benefits of the Competition

The students will gain valuable “hands on” experience in dealing with a real project, and with professionals within the industry. Aside from the knowledge gained from the process of developing the submittal, the students will gain experience in presentation to a qualified panel of judges. Additionally, once the program is completed, the students will have had the opportunity to showcase their abilities to professionals within the industry, a “hands on” job interview in front of the South Florida real estate community.

The university will have the opportunity to showcase the quality of their educational program to the real estate community and enhance their ability to attract excellent students to their program. The competition can be an excellent teaching tool for the schools.

The professional resources will benefit from the competition in that they will have exposure to the “best and brightest” students that will be looking for work at some point in the future. The professional resource will have opportunity to work on a development project that could end up being selected by the owner, providing an opportunity to work with that owner.

The Professional Resources

These resources will be NAIOP volunteer members from the firms that the student teams attract. The student teams will have ample access to the individuals within the firms, but it needs to be limited so that the competition is not an undue burden on the professional resource.

Summary

The NAIOP Collegiate Challenge will benefit all involved at a professional, personal and educational level. Exposure of students within this program to South Florida industry professionals will help to keep these same “best and brightest” young men and women here in our market, consequently improving the quality of our industry in South Florida over the long run. Public exposure of unique and difficult development projects will help educate the general public about how difficult it is to put a successful project together – providing insight to all involved about how many different groups need to collaborate to make a project successful.

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GET OUR INSIGHT, CLOSE DEALS FASTER.

Serving South Florida for over 40 years

With Miller’s expert analysis, you empower clients to make well-informed choices.Working as a courtesy to you, we help you bring clients real value.

MILLERCONSTRUCTION.COM I 954.764.6550

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CASE STUDY

MILLER CONSTURCTION HEADQUARTERS 614 S FEDERAL HWY, FTL, FL 33301

Executive Summary:

Miller Construction Company controls a 1.31 acre tract of developed land in the City of

Fort Lauderdale (The “Miller Site”). The Miller Site is in close proximity to the Downtown

Fort Lauderdale and a mile south of Las Olas Blvd. fronting S. Federal Highway.

Miller Construction Company would like the University teams to evaluate the unique

nature and context of the surrounding property and propose a redevelopment project

that maximizes the value of the Miller Site and is economically feasible in the current

market.

Property Analysis:

• The Property is located at the N.E. corner of S.E 6th Court and S.E 6th Street and front South Federal Highway. • The current basis in the 1.31 acres of land with existing office is approximately $5,000,000 (not including monthly carry costs). • The following utilities are currently in place: water, sewer, electric and fiber. • The Property has adequate water storage for retention. • Any environmental issues and mitigation costs are included in the total land cost.

Zoning and Entitlement Analysis:

In evaluating the different possible permitted uses of the property, consider what’s

appropriate for the neighborhood with typical height restrictions, density, and general

uses. For the purpose of this project, assume that any and all reasonable entitlements

could be obtained.

Market Analysis:

In conjunction with the potential permitted uses of the property, evaluate the location of

the property and its surrounds, paying close attention to the current real estate market

conditions as you decide on a development approach. Your market analysis should

address the following for the different type of products:

Financing and Capital Analysis:

The financing and capital analysis should be evaluated taking into consideration the

current capital and financing market environment. Assume that Miller Construction

Company is willing to sell the land (both parcels) for a combined $5,000,000.

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GOVERNANCE

NAIOP SOUTH FLORIDA’S COLLEGIATE CHALLENGE

JUDGING CRITERIA

The Committee will select a panel of six (6) judges. Judges will be selected for their experience in real estate development and redevelopment projects and for their ability to be fair and impartial in judging the student submittals and presentations.

A representative of the sponsoring firm will be a non-voting judge but will act as a resource and counsel for the voting judges during their deliberations and scoring. In event of a tie in the judges scoring, the non-voting judge will cast a deciding vote to select the winner.

The judges will be required to evaluate the quality of the written and oral presentations of each team. An emphasis of the judging will be to validate the originality and feasibility of the critical conclusions of each team.

PRESENTATIONS:

WRITTEN PRESENTATION – At least 5 days prior to the event judges will be provided with a copy of each team’s written report outlining the analysis of the project and their development strategy. The report shall not exceed 50 pages (all inclusive) of text and graphics. The written presentation will account for 40% of the total score. JUDGES PRESENTATION – The competitive teams from the participating schools will make their oral presentation to the competition judges. The order of the Judges’ Presentations will be pre-determined prior to the event. Each team’s Judges’ Presentation will consist of a 20-minute oral presentation of the written report. Presentation boards/pictures/graphics and other media may be used to help convey the information. The judge’s presentation will account for 30% of the total score. JUDGES QUESTION & ANSWER – Following the Judges Presentation the competitive teams from the participating schools will field questions during a 30 minute round-table discussion and question/answer period between the judges and students. Judges will be free to ask questions of any student on the team. The teams’ answers to these questions will be scored based on the responses and the depth of knowledge on the subjects questioned. The Q&A will account for 30% of the total score. EVALUATION CRITERIA – Each team will be judged based upon the thoroughness and logic of their analytical process, as well as their ability to properly support their conclusions and recommendations.

General evaluation criteria are:

o Problem definition o Clarity of communication o Analytical methods o Creativity and thoroughness o Conclusions, including level of support.

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VOTING - The votes will be tallied to determine the ultimate winner at the conclusion of the presentations based upon their evaluation and the weighted scoring of the written submissions, Judges Oral Presentation, and the Judges Q&A. Each judge has one vote and the winning team will be the team with the highest total score.

The judges will utilize standardized evaluation templates that are for the judges’ personal use and note taking and will not be used as a part of any formulaic approach to determining the winner. The judges’ note templates will be given to each school in advance of the presentations. These templates are provided in this binder.

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NAIOP: MOVING COMMERCIAL REAL ESTATE FORWARD

At NAIOP, we empower investors, developers and owners of commercial

real estate to advance their businesses and careers. Our members

span the industry – retail, office, mixed-use, industrial, multifamily,

hotel and more – and our powerful chapter network unites members

across North America. At NAIOP, you have unlimited opportunity

to connect with the dealmakers and visionaries who are shaping

our industry, both locally and across the continent.

NAIOP: WHERE CAN WE TAKE YOU? FIND OUT WHAT YOU’VE BEEN MISSING AT

NAIOP.ORG/JOINTHEJOURNEY

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Vista square SVSG Consultants

Steven Guasch Victor Holguin

Shanalle Kennedy Gayon Bramwell

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Executive Summary SVSG Consultants is thrilled to propose a redevelopment plan best suitable for the downtown Fort Lauderdale submarket. The subject property is located south of New River at 614 S Federal Highway Fort Lauderdale, FL 33301 and consists of 1.37 acres situated at the northeast corner of S.E. 6th Court and S.E. 6th Street. Albeit our client is seeking a land valuation of $5mm, our firm’s objective is to maximize the land’s value and recommend the most feasible and viable options.

Surrounding the subject property are thriving businesses, high-end retail establishments, tourists attractions and residential communities. The approximate daily traffic traveling for passenger vehicles both south and northbound on South Federal Highway is 43,500, which provides great visibility and exposure for the subject property. A growing portion of residents in the downtown Fort Lauderdale submarket are young professionals who enjoy the flexibility of a “work, live, shop and play” lifestyle. The vast majority of individuals within the site’s zip code are single family homeowners with a median income of $125,197 and mean of $180,365.

The four sought-after neighborhoods within the downtown Fort Lauderdale submarket are Victoria Park, Colee Hammock, Coral Ridge and Rio Vista. These lavish neighborhoods are located within a five-mile radius of the subject property. The affluent neighborhood of Rio Vista, which is considered one of the oldest and most wealthy residential communities in Fort Lauderdale, is adjacent to the subject property. To maintain a sense of uniformity to the existing neighborhood of Rio Vista, our firm is proposing two concept plans that will be known as “Vista Square”. This development will be composed of an intricate architectural façade and the finest landscaping designs that will enhance the surrounding community. The first concept plan for Vista Square based on current zoning constraints will consist of four story Class A office space and four two-story luxury single family homes. The office building consists of two stories of 25,956 sf leasable space and two stories of structured parking. Although the downtown Fort Lauderdale market is known for its booming office spaces, there has only been 3 new office construction within a 5 mile radius over the past decade. The office spaces at Vista Square will be one of the very few new Class A developments with LEED certification and larger than average square footage. The office spaces will be heavily screened between the RS-8 Residential by the 10’ Landscaping buffer. The two stories of office space will be cladded in glass. The floor plate of the 4th floor will be smaller than that of the third, providing the opportunity of posh patio space on both the north and south ends of the building with balcony railings and extensive landscaping. The homes will have square footages ranging from 3,000-3,350. With Mediterranean architectural style and contemporary touch, the homes will be consistent with the recent housing construction and will provide luxury kitchens with quartz countertops, high ceilings, porcelain tiles, exquisite pools, and high-end appliances, and top of the line landscaping.

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Given the current zoning and site constraints, the requested land price of $5mm is not feasible. Our firm determined the land’s value at its present condition to be $3.7mm. The first concept has an IRR 16.8% within a two-year hold period and an NPV of $27,251. With a four- year hold period, the IRR is 16.4% and an NPV of $20,350. This analysis is assuming a 15% discount rate. The second concept will achieve the sought-after land price of $5mm. Based on the rezoning plan, the site will consist 66,220 sf of two stories of leasable Class A office space and a two-story structured parking. The landscaping will be similar to the first plan proposed. With the potential change in zoning and the added entitlement risk, the IRR (assuming a 2 year hold period) is 22.2% with an NPV of $457,609. With a 4-year hold period, the IRR is 16.9% and an NPV of (-1,550,702).

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SVSG Consultants

Born in Jamaica and raised in South Florida, Gayon is a UF graduate with a BS in Business. She currently works in Business Development for Ryan Property Tax Consultants. She is a founding member of the Greenhouse Church South Florida campus, a member of ICSC, NAIOP South Florida, ULI, and Vice-President of NSU’s Real Estate Development Student Association. With her MSRED degree, she hopes to obtain her CCIM designation and specialize in innovative, mixed-use developments. Contact Info: Gayon Bramwell Email: gb748@nova.edu Cell: 954-993-1276

Steven Guasch received his B.A. at Florida Atlantic University in 2012. He majored in both Finance and International Business &Trade, graduating with Cum Laude Honors. In 2013, Mr. Guasch joined Altman Development Corporation, a Class-A Multifamily Developer, as a Financial Analyst and quickly expanded into his current role of Development Associate. He is responsible for managing the financial feasibility, entitlement, design, acquisition, construction and sale of multiple apartment developments representing a capital investment of $355.3 mm across South Florida, Orlando and Texas to insure the projects stay on schedule, on budget and reach investor expectations. In efforts to fortify his skillset and accelerate his career, Steven is currently attending Nova Southeastern University for their Masters of Science in Real Estate Development program. He also sits on the Board of Vizcaya Kendall, Community Development District for the Kendall Square Development. Contact Info: Steven Guasch Email: ssguasch@gmail.com Cell: 954-830-1114

Victor Holguin holds a bachelor's degree in Economics and Spanish Literature from Dickinson College. Throughout his college career Victor has gained real world Real Estate experience in which he discovered a great interest in Real Estate Development. Victor was able to help acquire $9.1M worth of Real Estate throughout NYC in this first professional job out of college. Victor moved from New York City to pursue a Graduate Degree in Real Estate Development at Nova Southeastern University. Victor is interested in working in a company that specializes in Mixed Use and Residential Development. Contact Info: Victor Holguin Email: Victor.holguin14@gmail.com Cell: 917-679-1063

After graduating from The Florida State University Shanalle decided to continue her passion for real estate by enrolling in the MSRED program at Nova Southeastern University. She is a licensed realtor who specializes in residential and commercial real estate in Broward County, Florida. As a first generation student, she prides herself on being a hard worker and dedicated individual. She holds communication and integrity at a high regard. Contact Info: Shanalle Kennedy Email: sk1277@nova.edu Cell: 954-297-9400

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TARPON RIVER OFFICE PARK

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Executive Summary: Picture 1: The 2016 NAIOP College Competition Project, features 1.32 acres of land that will be accessed as vacant. The subject site (Picture 1 is an Arial photo) features split zoning, limiting height restrictions, and neighboring single-family homes located just outside downtown Fort Lauderdale and Las Olas Boulevard.

Without being granted the ability to speak with local officials and residence, Boscolo Partners has developed a proposal to maximize the use of land in its current state. Boscolo Partners is proposing the development of Tarpon River Office Park, to take advantage of the demanding Fort Lauderdale office market that features little new office inventory.

The Tarpon River Office Park will feature two (2), six (6) story Class-A office buildings, with three (3) of those floors being utilized for parking. The North office building consists of 54,000 square feet, with 27,000 square feet being office space. The South office building consists of 49,200,000 square feet, with 24,600 square feet of office space. Tarpon River Office Park provides tenants with quality office space, in a desirable location, with competitive rental rates compared to the Fort Lauderdale market.

The demand for quality office space is supported upon speaking with local brokers (Stiles Realty, 2016) who emphasized the need and desire for quality Class-A office space near Las Olas Boulevard. Office Towers on Las Olas are seeing record high rents in 2015 & 2016. CBRE Market view for Broward County Office for fourth quarter 2015 shows triple net asking rates for Class A office space in all of Broward County at $19.23/PSF. Asking triple net rents in the Fort Lauderdale Downtown/CBD at $22.85/PSF. For the Downtown Las Olas buildings subset which include the following office high-rise buildings: SunTrust Center, 515 E. Las Olas Blvd, New River Center, 200 E. Las Olas Blvd., 450 Las Olas Blvd., 350 E. Las Olas Blvd., Bank of America Plaza at Las Olas, and 401 E. Las Olas Blvd. list average triple net asking lease rates of $28.93/PSF. (Stiles Realty, 2016)

Therefore, our team has concluded that net rent projections would be in the range of $22-$28 per square foot. Using the projection employment growth rate, 457,000 square feet of office space will be absorbed each year, and REIS projects about 284,000 square feet of new office space to be delivered to the metro area by the end of 2017. (REIS, 2016) Using projected employment growth, absorption upon completion of the two (2) buildings would occur in less than a year.

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Alex Arostegui Upon graduating in 2013 from Florida State University with a Bachelor’s Degree in Economics, Alex started his real estate career working for One Sotheby’s International Realty for two years. Alex was part of the mentorship program and assisted in closing over $10 Million dollars in residential sales. Then after realizing he wanted to pursue commercial real estate he joined the Masters of Science in Real Estate Development at Nova Southeastern University. Through the program Alex had two different internships at Stiles. In February of 2016 he was extended an offer to join the LNR Rotational Analyst program. Alex was responsible for the financial analysis and development concept for the project.

Dr. Claudius A. Carnegie Dr. Claudius A. Carnegie, P. E., and is currently a NSU Doctoral Alumnus in Higher Educational Leadership, and a current MSRED Student, with expected graduation in August 2016. Having worked in the back end of the real-estate Industry for most of his life, Claudius is now learning the front end of this real-estate Industry and continuum, pursuant to re-inventing himself as an International real estate developer, in a yet to be determined niche position and role, and with a lot of enthusiasm and excitement. Claudius is a member of several Local, State, National, and International Board of Directors---across many disciplines; a licensed and certified FAA and Canadian, multi-engine, commercial charter pilot; an Adjunct Engineering professor; an Entrepreneur; and a former entertainer; and having lived, worked, and studied in various countries around this planet; so these facts should underscore his diversity, professionalism, leadership, communication, and his results oriented characteristics and qualities. Please go to Claudius’ web-based BIO at: http://www.allstar.fiu.edu/aero/carnegie.htm for additional details.

Monica Cruz Monica is a business owner in the Fort Lauderdale area for over fifteen years. She obtained her Undergraduate from Nova University with a bachelor’s degree in Business Administration and a minor in international marketing. Recently, she started the Masters in Real-Estate and Development program here at Nova, developing a passion for real estate upon her single handedly constructing two preschools, from the foundation up. With experience working within in the Fort Lauderdale area Monica provided valuable insight for the development strategy and market research.

Olivia Roberts After relocating to Miami Florida, Olivia studied Communications and Marketing, earning highest honors for her Bachelors at St. Thomas University. She then went to pursue her Masters studying abroad in Costa Rica, receiving her M.A. in Global Entrepreneurship, specializing in Sustainable Development from the United Nations University. Currently she is pursuing her second Masters at Nova South Eastern University in Real Estate Development. Preceding her studies, Olivia was the administrative assistant of Rothschild Associates LLC where she assisted with oversees projects for the most veteran developers, for investing in a new project can be an overwhelming panorama. Earlier in her years, Olivia engaged in positions working for the most prominent Luxury Condo hotels such as The Atlantis, as well as Fontainebleau Hotel ranging from condo operations & convention services which related to the planning, economic development, renewal and tourism of the industry. Olivia’s primary focus is to continually increase global leadership and brand awareness to help drive business results thus being involved with the Urban Land Institute. She is currently the Finance Manager for a Real Estate Expo. Olivia was responsible for assessing the market study, assisted with the zoning regulations, and the detection of the alternative development for the examined site. Contact Number: 305-815-7624 - Email: or174@nova.edu

Kyle Thompson Upon graduating in May from the University of South Carolina Beaufort, with a Bachelor’s degree in Psychology, Kyle started the Real Estate Development Program at the University of South Carolina Beaufort. He currently works as a Right-of-Way Agent, in the Property Management division, for the Florida Department of Transportation in Miami, Florida. With his experience in leasing, sales, and property management, Kyle provides the necessary knowledge to ensure the property will reach its intended occupancy upon completion. Kyle was responsible for providing insight on the elements of the subject site, conducting zoning analysis, and researching the Fort Lauderdale market.

Boscolo Partners LLC

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“A professional office and retail experience in the heart of downtown Fort Lauderdale”

TARPON SHOPPES & OFFICES

NOVA SOUTHEASTERN UNIVERSITYH. WAYNE HUIZENGA SCHOOL OF BUSINESS

AND ENTREPRENUERSHIP

Presented and Developed By: Brandon Nudelman | Chadwick Maxey | Erica Williams

Marianel Pimentel | Quincy Smith | Rebecca Steinhouse04.24.2016

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TARPOON SHOPPES & OFFICES

EXECUTIVE SUMMARY

This project proposal is a consideration of the highest and best use for a 1.31-acre property zoned half commercial business (CB) and half residential (RS-8) in Fort Lauderdale. The property is located on North Federal Hwy and is adjacent to the city’s Central Business District (CBD) south of the river, which comprises mostly government office facilities. After a thorough market and financial feasibility analysis of potential uses for the site, it has been determined that a 2 story mixed use retail / professional office building would be the best use for the land. The “Tarpon Shoppes and Office” development achieves a $5-million-dollar land valuation and a residual valuation of $13 million at the time of sale in December of 2018 (after a 2 year development and leasing period). Additionally, if Miller is willing to enter in a joint venture with our development team to conduct the fee development (at 3%), the Miller Construction company’s cash equity requirement is $2.5 million and their 2 year levered profit is $8 million (or a 4.25x cash equity multiple). The below chart shows the projected returns, without the $5-milllion-dollar land valutation, which would be considered the joint venture “equity” in the deal.

Project Returns (Less Land provided by Miller)Unlevered Levered

IRR 73.99% 126.60%Multiple on Cash 2.30x 4.25xDistributions $15,271,686.20 $10,624,645.52Contributions -$6,649,650.36 -$2,500,335.12Profit $8,622,035.84 $8,124,310.40

As for the retail component, the absorption for Broward in 2015 was 619,375 SF and vacancy rates continued to drop from 7% to 6%. This proposed project will look to capture only 2% of the total Broward retail market. The top 25% of retail assets in Broward sold at a 5.5% cap rate, which this development is believed to achieve. Additionally, the property is well situated on a known retail cluster area along the North Federal Highway retail corridor. The vast majority of retail in this area is clustered along this highway.

The development will feature a 2 story strip retail/professional office center with 32,940 gross square footage and 28,000 rentable square footage (14,000 SF per floor). The bottom floor of the development will be entirely retail and the top floor entirely professional office to take advantage of the unique location next to the government center. This will also mitigate any risks of absorption for either asset class.

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TARPOON SHOPPES & OFFICES

Due to the restrictions of the residential zoning, the site will continue to use the grandfathered parking lot in the eastern half of the parcel to meet the parking requirements for the 32,940 SF building. This is based on Ft Lauderdale Ordinance: Sec. 47-20.19. - Nonconforming parking and loading, Sections A & H which states that any parking facility which is in existence on the effective date of the ordinance and is in compliance with zoning regulations may continue in existence as a nonconforming parking faculty in accordance with the provisions set forth (MuniCode). The neighborhood on the residential side has the highest median income in Ft Lauderdale according to the 2010 US Census and this is likely the only commercial development option the residential neighborhood will allow.

The development and leasing timeline will occur over a 1 year construction period, 6 months for leasing and a sale at the end of the 2nd year. The entire hold is 24 months. The stabilized annual NOI is $790,362 in year 3 and at a 6.05% blended office/retail caprate creates a total valuation of $13 million at the sale at the end of hold period (end of 2nd year).

The development will target government workers (lawyers, government officials, etc) and the daytime population with the retail (coffee, fast casual, dry cleaning, etc). This development is determined to have an aggressive leasing velocity with significant marketing and preleasing within 6 months of Certification of Occupancy. This will be accomplished by marketing the excellent location near the CBD and on North Federal Highway and with a significant rent abatement as the primary leasing incentive (6 months’ free rent). The total development cost for this project is estimated at $10.4 million with the following breakdown:• $4.7 million (40%) in hard costs• $2.2 million (18%) soft costs • $5 million for land costs (42%).

If Miller does not choose to enter in the joint venture, but instead sell the land for $5 million, a future purchaser’s expected levered internal rate of return over a 2 year hold is 16% with an equity cash multiple of 1.40x. Selling at a 6.5% cap rate, the net sales proceeds at the end of the holding period is $12.7 million with a net profit of $3.6 million.

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Chad Maxey Chad Maxey is currently working as a financial analyst at Florida East Coast Industries focusing on Brightline train associated mixed use real estate development, industrial warehouse development and cell phone tower development. Previously Chad served 10 years in the Army including 2 tours to Iraq and 1 tour to Afghanistan. He also has over 5 years of government relations experience, working with with Congress, senior officials at the Pentagon, as well as State and Local level politicians. Being that Chad is very passionate about real estate development he is now achieving his Master’s Degree in Real Estate Development from Nova Southeastern University and is expected to graduate June 2016. C: 954.707.2204 E: chadwick.maxey@feci.com chadwickmaxey.wix.com/e-porfolio

Brandon Nudelman Brandon Nudelman, received his Bachelor’s degree from Florida State University. During that time, he studied real estate with an emphasis on finance. Brandon is presently enrolled at Nova Southeastern University, where he is pursuing a master’s degree in real estate development. Currently Brandon is employed as an assistant project manager for KD Construction, where he is undergoing construction for an assisted living facility in Boynton Beach. Aside from being an APM, Brandon is in search for finding a small multi-family project of his own to get started with to launch his real estate development career. C: 954.937.8126 E: bn288@nova.edu bnudelman91.wix.com/msred

Marianela Pimentel Originally from Maracay, Venezuela, Marianela Pimentel, holds a Bachelors of Science degree in Biology from Nova Southeastern University, where she is now employed as an Office Administer for the Facility Management /Physical Plant Division. In addition, Marianela has successfully attained her Real Estate License in 2014, which allows her to be an active agent throughout South Florida. With this interest, Marianela began her studies in the Real Estate Development Masters program at Nova Southeastern University, where she would like to venture into the commercial real estate market. Marianela is expected to graduate early next year and is looking forward to immerse in the commercial real estate industry shortly thereafter. C: 754.204.5681 E: mariap@nova.edu mariap6.wix.com/realestateworld

Quincy D. Smith A retired Logistics Officer (US Army) with an interest in developing single family and small multi-family apartments, Quincy D. Smith holds a Bachelor of Arts Degree from Florida International University in Psychological Education and is the owner of 2nd Exodus Investments LLC. As Quincy’s interested in the Real Estate sector increased, he began to pursue his masters degree in Real Estate Development from Nova Southeastern University, where he aspires to gain knowledge in other aspects in investing in real estate. Quincy successfully continues to redevelop homes and invest in real estate where he is consistently looking to improve his incoming cash flows. C: 804.675.8500 E: quincydsmith25@gmail.com quincydsmith.wix.com/eportfolio

Tarpon Shoppes and Offices

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Rebecca Steinhouse With a creative mind and an outgoing personality, Rebecca Steinhouse succeeds in everything she sets her mind too. Rebecca recently graduated from Florida Atlantic University with a Bachelor’s degree in Urban and Regional Planning; during her studies she also successfully completed two internships with J.P. Dimisa & Associates in Boca Raton, FL and Interior Management Inc. in New York, NY. Following graduation, Rebecca continued her career by gaining architectural experience with Garcia Stromberg Architecture as well as pursing her Master’s Degree in Real Estate Development. Rebecca is currently a project manager for Amy Young Designs and a real estate agent for Sterling Real Estate. As an out of the box thinker, Rebecca uses her graphic design skills to make every project she does exceptional. C: 732.668.7189 E: rsteinh2@gmail.com rsteinh2.wix.com/rsteinhouse

Erica Williams Originally from Hartford Connecticut and currently residing in Florida since 1989, Erica Williams graduated from the University of Central Florida in May 2007 with a Bachelors of Science in Legal Studies and a minor in criminal justice. After graduation in 2007, Erica started her first professional job as a junior paralegal with one of the biggest Mortgage Default firms in Florida. Within a year she was presented with a new job opportunity with an up-and-coming firm and following her gut, she accepted it. Since then, Erica has grown exponentially within her current profession and has exceeded many expectations., Erica is now working to achieve her masters degree in Real Estate Development from Nova Southeastern University. Following graduation, she wishes to follow her all time goal of participating in redevelopments within lower income neighborhoods in order to create a new environment for their youth and a create a new standard of living for lower income families. Erica continues to follow her gut by being a successful participant in the M.S.R.E.D program as well as in her career path. C: 954.804.0795 E: Ew542@nova.edu ewilliamsm28.wix.com/online-resume-r

24

OUR BUSINESS IS GROWING YOURS.

Making long-term connections is the key to success in commercial

real estate. NAIOP provides investors, developers and owners the

opportunities, education and knowledge they need at every step

of their careers.

So, whether you’re looking to meet potential business partners, nurture

existing relationships or close a deal, NAIOP gets you to your goal.

NAIOP: THE FUTURE OF COMMERCIAL REAL ESTATE STARTS HERE. JOIN US.

FIND OUT WHAT YOU’VE BEEN MISSING AT

NAIOP.ORG/JOINTHEJOURNEY

26

NOVA MSRED PROFESSOR

Mark L. Troen, FRICS

Mark Troen is a Senior Vice President and shareholder of Brookwood Group Inc., a nationwide strategic real estate development, program, project management, and advisory services firm that specializes in transit-oriented, urban infill, and public-private projects.

He has 30 years of real estate experience, having worked with investment banks, development companies, real estate firms, institutions and corporations. He has managed $10 Billion in transactions, achieving excellent returns on high-risk, turnaround and

problem assets. He has sourced, negotiated, conceived, analyzed, planned, entitled, developed, completed and restructured mixed-use, retail, office, industrial, and residential projects nationwide and internationally, ranging in size from $5 Million to $1 Billion and up to 1,000,000 square feet and 3,000 acres.

Mr. Troen has an extensive history in the real estate development field, beginning his career at Security Pacific Realty Advisory Services. He subsequently worked for HSBC USA (Marine Midland Bank), The Weitzman Group, Monday Properties, Racebrook Capital Advisors, and most recently as Chief Operating Officer of Sheldon Good & Company, the real estate auction firm that conducted over 100 auctions and $375 Million in sales during his tenure. He also served as managing principal of Brookwood’s affiliate, The Winnmark Group, whose strategic real estate services and development activities have been merged with Brookwood Group.

Mr. Troen has a multi-disciplinary educational and professional background, with an MBA from the Wharton School and a Master of Architecture degree from the University of Pennsylvania. He graduated from Harvard College, AB cum laude, while majoring in economics.

Mr. Troen is active with the Urban Land Institute (ULI), serves on the Advisory Board of the Southeast Florida / Caribbean Chapter and is a member of the national Urban Development Mixed-Use Council. He is also a Fellow of the Royal Institution of Chartered Surveyors (FRICS), a member of the American Institute of Architects (AIA), and a Registered Architect. Mr. Troen holds Real Estate Broker’s Licenses in New York, Florida, Maryland, and Connecticut.

Mr. Troen currently teaches graduate level real estate development, economics, and market analysis at New York University’s Schack Institute of Real Estate; at the Masters in Real Estate Development + Urbanism Program of the University of Miami School of Architecture; and at Nova Southeastern University’s Master of Science in Real Estate Development Program.

Mark Troen, FRICS

Brookwood Group Atlanta | Los Angeles | New York | Palm Beach | San Francisco | Seattle www.brookwoodgroup.com (561) 855-4415 mtroen@brookwoodgroup.com

COLLEGIATE CHALLENGE JUDGES

Eric D. Swanson

Treadwell Franklin Infrastructure Capital, LLC

Event Founder and Past Event Chair

Eric D. Swanson is an executive and founding partner of Treadwell

Franklin Infrastructure Capital, LLC (“TFIC”). TFIC provides

development, financial and advisory services to Clients with a focus

on assets that are associated with core infrastructure such as harbors,

airports, transit, waterways and roadways throughout the US.

www.tficapital.com.

An over 30-year commercial real estate industry veteran, Mr. Swanson has held executive

positions with Odebrecht USA, FECI, Broe Group, LandBank and Codina Group. He has had

the privilege of working with tremendous people on a wide range of multifaceted projects,

including office, industrial, land development and mixed use projects around the country.

Active in industry and business organizations, Mr. Swanson is currently a Trustee, Governor

and member of the International Operating Committee for ULI, a member of the Advisory Board

for Nova Southeast University’s Graduate Real Estate Program, Board and Executive

Committee member of the Greater Miami Chamber of Commerce, and past president of NAIOP

of South Florida.

Phone: (305) 216-2110

email: eswanson@tficapital.com

Miller Construction Company relationships that build

43YEARS

Harley Miller is President and Co-Founder of Miller Construction Company with his brother, Tom. Founded in 1973, Miller Construction Company is considered a premier Design/Builder and General Contractor in South Florida. The growth and success of Miller Construction Company can be traced back to the company’s philosophy, which fosters long-term client relationships by bringing knowledge, expertise and innovative services to their clients while infusing each relationship with integrity and respect.

Harley graduated from the University of Florida in 1969 with a degree in Building Construction and is a State of Florida certified General Contractor. Since its inception, Harley has helped manage the growth of Miller Construction Company. Projects such as Airbus Flight Training Facility, Riverside Hotel, ABC’s Local 10 and the NBC 6 Broadcast Facility are included in the over 400 commercial and residential facilities that Miller Construction Company has constructed in Florida.

Harley is an Emeritus Member of the Advisory Council Executive Committee for the M.E. Rinker, Sr., School of Construction Management at the University of Florida. He is also a Past President and Board Member of the South Florida Chapter of NAIOP as well as a Past President and Director for the Construction Association of South Florida.

Active in many charitable organizations, Harley has founded two annual golf tournaments that benefit South Florida charities. He is a Past President and Board Member of The Lighthouse of Broward County and in 2002 he received the Junior Achievement Hall of Fame Award. Currently, he is a member of the Orange Bowl Committee.

Harley W. Miller President

Education Bachelor of Building Construction – University of Florida,1969 Major: Building Construction

Registrations Licensed General Contractor State of Florida – CGC010840 Affiliations Emeritus Member, Advisory Council Executive Committee, University of Florida M.E. Rinker, Sr. School of Construction Management Past President & Board Member, NAIOP Past President & Director, Construction Association of South Florida Past President & Board Member, The Lighthouse of Broward County Board Member, Junior Achievement of Broward County Member, Orange Bowl Committee Awards 2014 Hall of Fame Inductee, University of Florida, M.E. Rinker, Sr., School of Construction Management Junior Achievement Hall of Fame Award Distinguished Alumnus of the M.E. Rinker, Sr., School of Construction Management

28

Debbie M. Orshefsky

Partner

Ft Lauderdale T 954.468.7871 debbie.orshefsky@hklaw.com

Debbie M. Orshefsky is a partner in Holland & Knight's Fort Lauderdale and D.C. offices. She practices in the areas of land development and environmental law with specific experience in planning, infrastructure planning and financing, zoning, subdivision controls and community redevelopment, as well as state, regional and local roles in land use decision-making.

Ms. Orshefsky has represented private developers and government agencies as special counsel and has intimate knowledge of the land use planning process. In addition, she is a frequent speaker at state and national seminars on the land development process, as well as infrastructure planning and funding.

Honors & Awards

The Best Lawyers in America guide; Environmental Law, Land Use and Zoning Law, Real Estate Law; 2006-2016 Chambers USA – America's Leading Business Lawyers guide, Real Estate: Zoning/Land Use, 2004-2015 The Legal 500 USA, Real Estate and Construction: Land Use/Zoning, 2011-2014 Top Lawyer, South Florida Legal Guide, 2005-2014 Florida Super Lawyers magazine, 2006-2010, 2012-2015 "100 Heavy Hitters in Commercial Real Estate," South Florida Business Journal, 2011

Lawdragon 3000, "Leading Lawyers in America," 2010 "Influential Business Women of 2010," South Florida Business Journal, 2010 "Women in Law," South Florida Legal Guide, 2010 "Top Women in Florida Commercial Real Estate," Florida Real Estate Journal, 2008 Best of the Bar, South Florida Business Journal, 2003

Martindale-Hubbell AV Preeminent Peer Review Rated

Publications

Related Practices: Real Estate Land Use: Florida Land Use: Mid-Atlantic Land Use and Government Environment

Hospitality, Resort and Timeshare Sustainable Development Energy Education Florida Government Advocacy

Related Client Sectors: Transportation

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Developing Within a CRA: Signs of a Healthy CRA Should Be the Focus of a Prudent Developer, Co-Author, Urban Land, October 2003 Local Government Comprehensive Planning, Co-Author, Florida Environmental and Land Use Law Manual, 1990, 1993 and 1996 updates

Substantive Statutory and Regulatory Requirements State and Local Comprehensive Planning and Land Use, Florida Environmental and Land Use Law Manual, 1980-1983, 1986-1987 updates Watson Island DRI: Has the DRI Process Been Changed?, Florida Bar Journal, 1982 Practice Guide to Zoning, CLE Bridge the Gap Manual, 1981

Florida Wetlands Subdivisions: Protecting the Consumer, the Environment or the Developer?, Florida Environmental and Urban Issues Journal, July 1980

Speaking Engagements

Urban Land Institute Spring Meeting, Where the Rubber Meets the Road: How Do the Right Projects Get Funded?, May 13-14, 2015 Development Opportunities on the FEC Corridor: An Interactive Forum, Urban Land Institute, Dania Beach, Fla., April 17, 2013

Memberships

Nova Southeastern University, Real Estate Development Advisory Board, Master of Science Real Estate Degree Program, Member, 2010-Present Urban Land Institute, Member, 2002-Present; National Transit Oriented Development Product Council, Member, 2007-Present; Urban Land Institute Program Committee, Member, 2012-Present; Women's Leadership Initiative, Founding Member, 2010-Present Urban Land Institute Southeast Florida/Caribbean District Council, Member, 2002-Present; Chair of the District Council, 2007-2009; Executive Committee, Member, 2002-Present; Infrastructure Committee, Chair, 2008-2011; Curtis Program Statewide Transportation Initiative: "Connecting Florida," Founder and Member, 2008-2013 South Florida East Coast Corridor Coalition, Member, 2008-2010; Business Community and Local Government Committee, Chair, 2008-2010; Subcommittee Chairs Roundtable, Chair, 2008-2010 North Broward Hospital District Comprehensive Cancer Center, Community Advisory Board, Chair, 2004-2006 Downtown Fort Lauderdale Transportation Management Association, Chair, 1992-1994 Greater Fort Lauderdale Chamber of Commerce, Governmental Affairs Task Force, Former Chair, 1988-1990 The Florida Bar, Environmental and Land Use Law Section, Executive Council, Member, 1981-1984 Florida Association for Women Lawyers, Former President, 1981-1983

Education

George Washington University, J.D. Washington University in St. Louis, B.A., Urban Studies, summa cum laude

Bar Admissions

Florida District of Columbia

30

Kyle M. Jones Portfolio Manager

Stiles

Education: University of Florida: Masters of Science in Real

Estate Bachelor of Science in Finance Bachelor of Arts in Political

Science Student Body President University Trustee

Professional Affiliations: President, NAIOP South Florida VP of Public Affairs, NAIOP of

Florida Past VP of Public Affairs, NAIOP

South Florida ICSC Broward Alliance Leadership Florida University of Florida FARE

Awards: NAIOP National Developing

Leader of the Year NAIOP South Florida Individual

Member of the Year

As Portfolio Manager for Stiles, Kyle Jones is responsible for Stiles Property Fund (“SPF”) and Stiles Fund Management. SPF is a discretionary private equity investment vehicle that acquires and repositions office and retail assets. Mr. Jones was the founder of Stiles Fund Management, and he is responsible for the leadership and strategic direction of the business. During the creation of SPF, Mr. Jones developed the investment strategy, led fundraising efforts, and managed fund formation. Mr. Jones currently leads all SPF operations, including acquisitions, asset management, portfolio management, and investor relations. SPF’s portfolio comprises approximately $200 million of assets under management. Prior to his role leading the fund business, Mr. Jones was a Development Manager for eight years at Stiles. He was responsible for more than $300 million of developments throughout South Florida. Mr. Jones’ development project experience encompasses urban office, suburban office, urban retail, suburban retail, and mixed use product types. In addition to his primary responsibilities, Mr. Jones has been involved with several important government affairs initiatives on behalf of Stiles. These initiatives include the deepening and widening of Port Everglades, the Vote No on 4 Campaign concerning a statewide constitutional amendment to require public votes on all Comprehensive Plan Amendments, the expansion of the southern runway at Fort Lauderdale International Airport, and the Fort Lauderdale Downtown Master Update. Mr. Jones attended the University of Florida where he earned his Masters of Real Estate, Bachelor of Science in Finance, and Bachelor of Arts in Political Science. During his time at the University of Florida, Mr. Jones was elected Student Body President, and he served on the University Board of Trustees, the Alumni Association Board of Directors, and the Athletic Association Board of Directors.

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Marc Kopelman, CPA Financial Advisor | Wealth Management Specialist Harbor Investment Management of Raymond James Marc is a financial advisor and Wealth Management Specialist at Harbor Investment Management where he focuses on providing comprehensive financial planning services to our clients and assisting them in coordinating their financial affairs. Marc brings a broad array of skills and experiences to clients of Harbor Investment Management, including twelve years of public accounting and real estate consulting at national accounting firms Kenneth Leventhal & Company

and Ernst & Young and thirteen years of real estate development, investment and finance management experience in the commercial real estate industry with Brenner Real Estate Group and Stiles Corporation where he was instrumental in creating and subsequently managing several private, commercial real estate investment and development funds with a statewide presence. Marc also puts his skill sets to good use outside the professional arena. In keeping true to his real estate roots, Marc is very active at the Urban Land Institute’s Southeast Florida/Caribbean District Council where he serves on the Management Committee of the Advisory Board and chairs their Regional Leadership Committee. He also serves as Treasurer on the Board of Directors and Executive Committee of NAIOP of South Florida, a professional commercial real estate organization. On the home front, Marc continues to donate his expertise to the Ocean Riviera Association (condominium residence) for over ten years ranging from Board participation (Treasurer) to Finance Committee and Building Committee Chairman where he recently spearheaded a comprehensive exterior renovation of this oceanfront building. Marc holds a Bachelor of Accounting from the University of Florida. He is licensed as a certified public accountant in the State of Florida and holds the Series 7 Registered Representative and Series 66 Investment Advisor Representative licenses and the Life, Health and Variable Annuity insurance licenses. He is a native of Miami and currently resides in Fort Lauderdale with his wife, Terry and daughter Sadie.

32

Anthony J. Trella

(954) 725-4350

President

fax (954) 725-9632

The Meranth Company

E-mail: ajtrella@meranth.com

2944 Via Napoli

Web Site: www.meranth.com

Deerfield Beach, FL 33442

Anthony J. Trella is owner and President of The Meranth Company, a development and

investment management company. His experience, skills and vision are also proving

applicable as a consultant to major corporations and Investment Bankers across the

United States. He has a well established national reputation that is based on his

successful accomplishments in executive, marketing and financial management. He is

known in the real estate industry to hundreds of Developers, Builders, Realtors,

Architects, Planners, Designers, Attorneys, Investment Bankers, Financial Advisors,

Bankers and Management Executives. He has been President/CEO or Senior Executive

of such nationally recognized companies as Markborough Communities, Inc., Pulte

Home Corp. and American Capital Corp. In these positions he has been responsible for

development of over 20,000 acres of land; private and public golf courses; retail and

office centers; and he has built over 5,000 residential units. This has included over

fifteen (15) Master Planned Communities for primary and secondary housing. He has

been responsible for over 3,000 employees. These achievements resulted in more than a

billion dollars in sales and several hundred million dollars in profits. Mr. Trella’s

professional affiliations include the Urban Land Institute for which in addition to being a

frequent speaker and panelist, he is a former Trustee, a former District Council

Counselor, former Chairman of the Community Development Council (Green) and a

member of the South Florida/Caribbean District Council’s Executive Committee and was

its past Chairman. He is Chairman of the Advisory Board of Nova-Southeastern

University’s Real Estate Masters Program and its Developer in Residence. He was a

director/founder of the Foundation for Environmental and Economic Progress and the

Developer In Residence for the University of Miami School of Law/Graduate Program in

Real Property Development. He holds a B.B.A. in accounting from Pace University and

completed graduate studies at Adelphi University.

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Learn from a leader in real estate development

Terry Stiles knows real estate development. He’s built the Stiles Corporation into a 300-person strong real estate development company – one of the largest in the southeast. And because he serves on the advisory board of the Huizenga College of Business, he also knows the quality of its graduates.

The Huizenga College of Business award-winning Master of Science in Real Estate Development program is one of the most comprehensive in the country. Designed and taught by industry leaders, this 12-month program prepares graduates to undertake mid to senior level responsibility in development, management and investment positions.

With a curriculum focused on real-world learning and mentoring relationships with industry leaders, Huizenga College of Business graduates are more marketable, more employable and more in-demand.

“I’m looking for new hires that can hit the ground running and add immediate value to my business. Graduates of Nova Southeastern University’s M.S. in Real Estate Development program are prepared with both the academic and practical skills that make them successful in this highly competitive industry.”

– Terry Stiles, Chairman and CEO, Stiles Corporation

NOVA.EDU/REALESTATE35