Developers Now Selling Combination Units - February 15, 2002

Contact: Judy Goldstein, The Adler Network (954) 776-6633

FOR IMMEDIATE RELEASE

DEVELOPERS NOW SELLING COMBINATION UNITS
AT ACQUALINA OCEAN RESIDENCES & RESORT

SUNNY ISLES BEACH, Fla. – With luxury condominium residences at Acqualina Ocean Residences & Resort ranging in size from 2,185 to 13,000 square feet, it still didn’t surprise the developers that several purchasers opted for combination units as soon as they were released for sale in January. Four have already been sold.

The new, 51-story residential resort tower, located at 178th and Collins Avenue in Sunny Isles Beach, is now under construction.
Priced at $2 million, each combination unit will provide 4,350 square feet of air-conditioned living space, as well as 80 feet of ocean view. Because apartments within the 51-story, residential resort tower are also “through and through,” there will also be Intraocastal Waterway views.

According to Acqualina’s V.P. of Sales & Marketing Michael Goldstein, the “discerning buyers” who are attracted to Acqualina – which will feature a small, luxury boutique hotel managed by Rosewood Hotels & Resorts – are accustomed to not only exceptional resort amenities and services, but grand spaces as well. “More than ever before, we’re seeing a demand for very large residences and we are meeting that demand with our new Palazzo di Uffizzi floor plan. Featuring five bedrooms and five baths, it will be like living in ‘an estate in the sky,’” he noted.

He added that all Acqualina residences include a private elevator and service elevator to maximize peace of mind and convenience. Goldstein said that approximately 65 percent of buyers plan to use Acqualina as their primary residences, necessitating larger living quarters and all of the features that one would typically find in a single-family estate home – including gas for cooking. At the same time, buyers will enjoy the advantage of carefree condominium ownership.

“People are choosing Acqualina because our selection of floor plans allow them to choose from three to six bedrooms plus an optional staff room,” he noted. “Furthermore, nine of the 12 penthouses have already been sold. I attribute this to the fact that each has its own separate, private guest house by an adjacent private pool or spa. And here are even gas-fueled fireplaces.”

Presented by the developers of internationally recognized Williams Island community in nearby Aventura, the Italian-inspired, Old World-style tower will be a one-of-a-kind property with condominium residences and a hotel managed by award-winning Rosewood Hotels & Resorts. Representative of Rosewood’s properties are The Mansion on Turtle Creek in Dallas, The Carlyle in New York, Las Ventanas dal Paraiso in Mexico, Little Dix Bay Resort in the British Virgin Islands, The Lanesborough in London, and other award winners.

Acqualina will have a doorman, 24-hour valet parking, 24-hour security, 24-hour room service, housekeeping and concierge services. There will be a signature Rosewood restaurant,
lounge and outdoor grill, gourmet convenience store, men’s and women’s salon, pampering spa with state-of-the-art fitness equipment, three swimming pools, and private beach club. Residents will also have the opportunity to access Williams Island golf, tennis and marinas.

Residences at Acqualina are also being purchased as family vacation homes. With an abundance of bedrooms and optional maid’s quarters, as well as penthouses with a separate guest house, there is plenty of room for children and an accompanying nanny or live-in housekeeper. “This is very unusual in a condominium setting,” Goldstein pointed out. “Consequently, we are attracting people with primary homes elsewhere who want to spend part of their time in South Florida, in an oceanfront location convenient to everything that make this area a sought-after vacation destination.”

In addition to the new Palazzo di Uffizzi combination floor plan, Acqualina offers 3-bedroom/3-bath condominium residences from 2,185 square feet of air-conditioned living space, priced from $1.2 million; 2,750-square-foot 4-bedroom/4-bath condominiums, from $1.4 million; fully furnished 3-bedroom/3-bath “turnkey” condo/hotel residences of 2,040 square feet, from $1 million; and 4- to 6-bedroom penthouses, ranging from 5,220 to 13,000 square feet with a separate guest house and private pool or spa, from $3.1 million to over $10 million.

There also are furnished, 655- to 1,010-square-foot hotel suites and one-bedroom suites (with a living room) available for purchase, from $450,000 to over $515,000.

Acqualina’s projected completion is spring 2004.

To set up a private tour, which is by appointment only, call (305) 933-6666. Or, for more information, visit www.acqualina.com.

Note: Rendering available upon request.