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Toscano Fact Sheet

Fairfield Residential, One of Nation’s Top Developers, Shifts Strategy to Enter Highrise Condominium Market (June 2005)
FAIRFIELD RESIDENTIAL, ONE OF THE NATION'S TOP DEVELOPERS, SHIFTS STRATEGY TO ENTER HIGHRISE CONDOMINIUM MARKET
National developer's first project will be located in Dadeland area


MIAMI, FL (June 2005) - Leveraging its strength and experience as a national multifamily residential builder, Fairfield Residential LLC today announced plans for Toscano, a 25-story, 396-unit luxury high-rise condominium community with ground-level retail space located in Miami-Dade County's bustling Dadeland area, directly across the street from nationally acclaimed Dadeland Mall.

The soaring residential development is situated on North Kendall Drive just east of the Palmetto Expressway and west of U.S. 1. Already well under construction, Toscano is expected to be ready for occupancy summer 2006.

Although, Fairfield has built many single-family homes, and town homes, the announcement reflects a shift in national strategy for Fairfield, long regarded as one of the nation's top developers and managers of apartment communities.

"This is a very logical extension to our core business," Omar Del Rio, Vice President of Fairfield. "It allows us to leverage each and everyone of our competencies, plus years of experience in investing, developing, renovating and managing communities."

Throughout its 35-year history, Fairfield and its affiliates have been involved in a broad range of housing and have more than 150 properties across 13 states and the District of Columbia.

While Toscano is the first such development for Fairfield, they are not strangers to Florida, developing, building, and owning several communities through Miami-Dade, Palm Beach and Broward Counties.

The masterfully-designed residential enclave, priced from the low $200's, featuring spacious two, three, and four bedroom penthouses and town homes, with units ranging from 687-2,499 sq. ft., will be a true re-urbanization project, allowing residents to live, work and play within walking distance of their home.

"After assessing the national high-rise condominium development landscape," continues Del Rio, "we decided that Florida, in particular, Miami, met all of our criteria. We are very bullish on this market, short-, medium- and long-term."

With easy access to major highways and the Metrorail transit line just a few steps away, Toscano offers one of the most convenient lifestyle locations in all of South Florida.

Its location within walking distance of the Dadeland South Metrorail station provides Toscano residents with high-speed transit to the major employment centers of downtown Miami, the UM/Jackson Medical Center, Coral Gables, South Miami and the University of Miami's main campus.

Residents will be centrally located within walking distance to Dadeland Mall, restaurants, cafes, and a Publix supermarket adjacent to the development.

Each luxurious Toscano residence features impact-resistant windows, custom kitchen cabinetry and stone countertops, spacious walk-in closets, and pre-wiring for cable and high-speed Internet access.

Amenities include a 25,000 sq. ft. recreational deck with a heated swimming pool and whirlpool spa, beautifully landscaped outdoor seating areas, state-of-the-art fitness center with cutting-edge cardio and free weight equipment, exercise studio, his and hers soothing sauna and locker rooms, serene meditation garden for reading, yoga or just relaxing, concierge and valet services, 24-hour courtesy monitor, private storage, and easy access-parking to each residential unit.

Acclaimed architectural firm Nichols, Brosch, Wurst, Wolf & Associates, is the creator of the 500,000 square-foot building's impressive design.

Fairfield bases much of its success as a developer on its intensive focus on market research and consumer preferences. Fairfield recognizes that while consumers often respond to housing on an emotional level, they are influenced by practical concerns. Fairfield has always based site selection, design and construction decisions on elements that will appeal to both levels, thus producing housing that is characterized by true quality. Fairfield understands that each development must blend into its surrounding community, thus each project is custom designed.

Esslinger-Wooten-Maxwell (EWM) Realtors has been appointed as exclusive residential sales agent. For additional information, visit us at www.toscanocondos.com.