OASIS GRANDE – TOWER II

3000 OASIS GRAND BLVD

FORT MYERS, FL

BULK SALE DATE- JANUARY 2011

BULK SALE PRICE -$37,500,000

BULK SALE PRICE/UNIT- $160,000

BULK SALE PRICE/SF – $110.00

YEAR BUILT – 2008

COMMUNITY DESCRIPTION

Oasis Grande condominium is a new construction waterfront luxury high-rise project located in Ft. Myers, Florida. De-veloped by the Related Group of Miami the property was originally slated for 5 high-rise towers and a marina, how-ever, only two towers were constructed. The project is considered one of the top developments in the submarket with a full range of amenities.

COMMENTS / ANALYSIS

In early 2010, Bank of America sold the note to a joint venture that included Related Companies (NY) which in turn hired Related Group of Miami to manage the asset. Related Group of Miami approached us about selling the entire project, but had an extremely tight deadline due to a highly promoted scheduled auction of Tower II individual units. Because of the time constraints, we were able to negotiate the successful sale of Tower II only.