1

MIAMI PROPERTY MARKETSMontclair Capital Group, L.P.

2

MAP OF MIAMI/MIAMI BEACH

A

B

C

D

E

3

PROPERTY MARKET: MIAMI – DOWNTOWN/BRICKELLNUMBER OF CONDOS

Map areas B, C, DDec-

02Jun

-03Dec-

03Jun

-04Dec-

04Jun

-05Dec-

05Jun

-06Dec-

06Jun

-07Dec-

07Jun

-08Dec-

08Jun

-09Dec-

09Jun

-10Dec-

10Jun

-11Dec-

110

500

1000

1500

2000

2500

3000

3500

Num

ber

of C

ondo

s

4

PROPERTY MARKET: MIAMI – DOWNTOWN/BRICKELLMONTHS OF INVENTORY

Map areas B, C, D

5

PROPERTY MARKET: MIAMI – DOWNTOWN/BRICKELLAVERAGE PRICE PER SQUARE FOOT (CONDOS)

Map areas B, C, D

6

PROPERTY MARKET: MIAMI – SOUTH BEACHNUMBER OF CONDOS

Map area DDec-

02Jun

-03Dec-

03Jun

-04Dec-

04Jun

-05Dec-

05Jun

-06Dec-

06Jun

-07Dec-

07Jun

-08Dec-

08Jun

-09Dec-

09Jun

-10Dec-

10Jun

-11Dec-

110

500

1000

1500

2000

2500

3000

3500

4000

4500

Num

ber

of C

ondo

s

7

Map area D

PROPERTY MARKET: MIAMI – SOUTH BEACHMONTHS OF INVENTORY

8

Map area D

PROPERTY MARKET: MIAMI – SOUTH BEACHAVERAGE PRICE PER SQUARE FOOT (CONDOS)