SkyPalace at Mary Brickell Village – Monthly Newsletter

Dear SkyPalace at Mary Brickell Village friends:

Greetings from beautiful and sunny Miami! The Skyline team is continuing its diligent work since our last email communication to you last month – with the updates regarding the exciting additions of new tenants at The Shops at Mary Brickell Village – to finalize the construction financing process and commence construction.

In preparation for the construction phase we have added to the Skyline executive team Mr. Ken Smuts, P.A., as our new Executive Vice President of Development. Having successfully completed over $5 Billion dollars of development projects, Ken is an expert builder and real estate developer. He has over 25 years of development, design, construction management and sales and marketing experience on a wide variety of mixed-use, multi-family, hospitality, retail, commercial office, health care and industrial projects. Starting his career as a nuclear construction engineer, he quickly advanced as a project manager, and then executive providing corporate vision, strategy, leadership and guidance for several prominent New York, Philadelphia and Miami based construction managers and developers. Ken’s most recent appointment has been with The Related Group serving as a Senior Vice President and Managing Director for the $1.5 Billion, 2,000,000 square foot St. Regis Bal Harbour Resort & Residences and for the $1.8 Billion, 2,000,000 square foot Icon Brickell in Miami, Florida. Having accepted an appointment as Executive Vice President of Development with Skyline Equities Realty, he is now responsible for the successful completion of Sky Palace at Mary Brickell Village in Miami, FL. Ken is a licensed professional engineer and holds graduate and undergraduate degrees in civil engineering from Rutgers and Drexel University. He has three grown children and resides in Miami, Fl, with his wife Kathi.

Market News – Updates

We have already provided you with some of the positive news regarding the Greater Downtown Miami, including the Brickell area, real estate market, which is showing clear signs of strengthening. Here is an updated list of all the positive news regarding the Greater Downtown Miami real estate market (for additional information click on the hyperlinks below to go directly to each story and read it or view it in its entirety):

The Miami Herald published an article in July 2010 with the title Hopes Rise With Sales of Downtown Miami Condos, where the point was made that sales of downtown condos have accelerated during the first half of this year, the inventory of empty new condos on the market is steadily declining and prices are on the rise as well.

The Miami Herald published an article in July 2010 with the title LeBron Means Big Bucks Flow to Miami, where the authors explained the multimillion impact that the addition of NBA star LeBron James to the Miami Heat basketball franchise will have in the area and the attention and subsequent property value increase that will result from it.

The Miami Downtown Development Authority published in June 2010 its latest report on the Residential Market Trend Update for 2010 Q2, which is clearly showing that total sales in the first six months of 2010 (1,933) were up 110% over the first six months of 2009 (919) and that the average price for the first six months of 2010 was up 16% from the first six months of 2009.

The Miami Downtown Development Authority published in May 2010 its Population and Demographic Profile for the Greater Downtown Miami area, which is clearly showing that the current downtown area population is estimated to total approximately 71,000 persons and is projected to increase to over 81,000 by 2014 and that at the current sales pace, downtown Miami’s new condo inventory could be absorbed within the next 18 months!

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A recent article by the National Association of Realtors emphasized that “International Interest in US Homeownership Increases.”

In a recent Bloomberg article the title exclaimed: “Miami’s Downtown Comes Alive as Condos Fill with Renters.”

NBC Nightly News with Brian Williams recently aired the story “Buyers Return After Miami’s Housing Bust.”

NBC’s Today Show also recently aired the story “Condo Sales Skyrocket in Miami.”

CNBC & MSNBC also aired a story under the title “Housing Battles Back.”

All these reports are clear evidence that the market has turned for the better and all indicators lead to the logical conclusion that it will continue to strengthen in the Greater Downtown Miami in general and the Brickell area in particular.

For our existing buyers who were among the lucky ones to purchase their SkyPalace unit(s) already, the above market data is great news and they should be excited about their profitable investment decision. Please let your friends and family know that now is the time to buy at SkyPalace, as prices will naturally increase upon construction commencement and will continue to rise as supply of available new condo inventory further diminishes and demand from local, national and international buyers further increases, as the aforementioned demographic reports show. Own a piece of Paradise at one of the most sought-after residential addresses in Miami – SkyPalace at Mary Brickell Village!

Act Now…Close Later…Enjoy for a Lifetime!