Portman Holdings + CMC Group 47

m a s t e r d e v e l o p e r

CMC GROUP

Founded: 1987

Employees: 50

Headquartered on Brickell Avenue in Miami, Florida, CMC Group is a full-service real estate development, construction, and investment company, and is recognized as one of South Florida’s premier luxury condominium and commercial developers.

Founded by Ugo Colombo in 1987, CMC Group is thoroughly skilled in the various disciplines necessary to succeed in today’s real estate market. CMC’s management expertise and experience in acquisition, financing, construction and marketing, coupled with its financial resources, have resulted in development of numerous successful projects and provides the framework for CMC’s continued growth and success.

During the past twenty-five years, CMC has focused on Miami-Dade County’s most dynamic markets—Brickell Avenue, Aventura, South Beach and Coral Gables. Recognizing Brickell Avenue’s potential, CMC developed Brickell’s first new luxury condominium building in nearly ten years, Bristol Tower. Completed in September 1993, Bristol Tower enjoyed tremendous success and led to CMC’s development of Santa Maria, a 174-unit luxury condominium on Brickell Avenue north of Bristol Tower. Rising 52 stories, Santa Maria remains the premier residential condominium building in South Florida.

In 1994, CMC formed a joint venture with Turnberry Associates to develop Porto Vita in Aventura, Florida. Located on the Intercoastal Waterway adjacent to the Turnberry Resort and Country Club and Turnberry Isle, this luxury 374 unit luxury residential development includes waterfront townhomes, two (2) mid-rise condominium buildings, (2) high-rise condominium towers and the 35,000 square foot Villa Grande Club, which includes a European spa, two restaurants and other recreational amenities. The final building, the 122-unit North Tower, was completed in 2004.

CMC also was a major force in the rejuvenation of South Beach. CMC acquired, renovated and operated the Waldorf Towers Hotel. After the sale of Waldorf Towers, CMC purchased two old, Art Deco-style properties and developed Casa Grande, a 34-unit condominium/hotel/retail property on Ocean Drive. This ambitious project consisted of the demolition of the previous structures and reconstruction of Casa Grande while maintaining the historic facades.

In 2001, CMC Group completed 4000 Ponce/The Collection, a mixed-use development in Coral Gables, Florida. This 815,000 square foot development includes 150,000 square feet of class A office space, 33,000 of retail space, and The Collection, a seven-franchise luxury automobile dealership (Jaguar, Porsche, Ferrari, Maserati, Aston Martin, Audi, McLaren). This project anchors the former Coral Gables Industrial District, which is a major South Florida retail and office destination with 4000 Ponce/ The Collection and the Village of Merrick Park, a 1 million square foot office/retail/residential development.

CMC’s most recent development projects were Grovenor House, a 166-unit luxury condominium in Coconut Grove, and Epic Residences and Hotel, a 55-story luxury condominium and hotel in downtown Miami. Completed in 2006, Grovenor House is a 32-story condominium tower located on South Bayshore Drive in the heart of Coconut Grove. With its stunning architecture and nautical-inspired common areas designed by Italian architect Michele Bonan, Grovenor House achieved the highest price per square foot in this market and remains the most desirable address in Coconut Grove.

Completed in 2008, Epic Residences and Hotel set a new standard for luxury in downtown Miami. Located at the mouth of the Miami River, Epic Residences and Hotel includes 342 luxury condominium units and a 411-room hotel (and related amenities) in a 55-story tower designed by renowned architect Luis Revuelta. Epic Hotel is managed by Kimpton Hotels and Restaurants and includes the internationally-acclaimed Zuma Restaurant and an Exhale Spa. Epic Hotel has received several awards from both Conde Nast and Travel+Leisure Magazine and the Epic Residences continues to lead the downtown and Brickell new condominium markets.

48 Portman Holdings + CMC Group

An affiliate of CMC Group, CMC Construction, Inc., is a licensed general contractor that has constructed a number of CMC Group’s projects and other third-party assignments. CMC Construction built both the Casa Grande Hotel and the Pelican Hotel on South Beach’s Ocean Drive. CMC Construction also constructed Porto Vita’s South and North Towers (both 27-story luxury condominium buildings), 4000 Ponce/The Collection in Coral Gables and, most recently, Grovenor House, a 166-unit luxury condominium tower in Coconut Grove, Florida and Epic Residences and Hotel in downtown Miami.

Financial Capabilities:CMC Group has raised in excess of $1.25 billion in equity and debt financing to fund its various development projects. CMC has worked with a number of private and institutional investors to provide equity and has obtained construction and permanent financing from a number of construction and other lenders. These lenders include Bank of America, Banco Santander, HSBC, BNY/Mellon, Wells Fargo, Regions Bank/Union Planters Bank, Union Labor Life Insurance Company, National Electrical Benefit Fund, Transamerica Life, Colonial Bank/BB&T, and City National Bank. These loans have ranged in size from $40 million to $280 million and all such financings were either repaid in full or remain in good standing.

CMC Group’s key personnel on the Miami Beach Convention Center District are outlined on the following pages.