TRANSACTION SUMMARY
In 2005, The Congress Group acquired fully entitled land in Miami, Florida for construction of the SoHo Miami condominium project, consisting of 86 units and associated parking. The Congress Group recognized that the initial design was flawed, and was able to increase the size of the project and improve the design by working with the City of Miami. The parcel of land is 28,000 SF and The Congress Group will develop a sixteen-story, 230,00 SF building. The luxury condominium building will include a fitness center and roof deck pool.

VALUE ADDED BY MANAGEMENT
Located approximately 250 feet from Biscayne Bay and in the Heart of the Arts District, the SoHo Miami condominiums will provide a first rate location. The project offers unique design elements such as expansive balconies with city and bay views, and five different floor plans that include two-story townhouse units.

Unlike the mega condominium projects in Miami, SoHo Miami will uniquely offer the benefits of a high-rise condominium building with the intimacy and convenience of a smaller community. The project is scheduled to be completed in 2008.

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