Waldorf Astoria Miami

New York-based developer Property Markets Group (PMG), along with Toronto-based private equity and asset management firm Greybrook Realty Partners, and global hospitality company Hilton (NYSE: HLT), announce their partnership to bring one of the world's most iconic hotel brands, Waldorf Astoria Hotels & Resorts, to Miami. This marks the first time this luxury brand will enter the Miami market. The Waldorf Astoria Hotel & Residences Miami will be located at 300 Biscayne Boulevard in Downtown Miami.

The property will consist of a five-star hotel, private residences, retail and top culinary destinations. Rising 1,049 feet above Biscayne Bay as one of the tallest hotel and residential towers along the East Coast, the exemplary architecture is set to transform the Miami skyline. The development was designed by architect Sieger Suarez and conceptual architect Carlos Ott.

"We are thrilled to bring the rich history and heritage of this hotel brand to Miami," said Ryan Shear, principal of PMG. "The city continues to thrive as a top global destination with increasing arts, culture, tourism, fashion and luxury brands. This partnership is a major milestone for Miami's real estate and hospitality industries."

"This property is a highlight in our real estate development portfolio with an architecturally stunning design and outstanding amenities," said Peter Politis, CEO Greybrook Realty Partners. "The partnership with Hilton to bring this exceptional hospitality brand to the Miami market raises the bar and will provide future residents and guests of Waldorf Astoria Hotel & Residences Miami with an unparalleled first-class experience."

With 30 properties globally, the Waldorf Astoria brand continues to deliver exclusive, exceptional experiences around the world. Each legendary property boasts unique architecture and design elements, resulting in standout buildings that remain true to the essence of their respective locations.

"We are incredibly excited to partner with PMG and Greybrook Realty Partners to bring the first Waldorf Astoria to Miami," said Danny Hughes, Executive Vice President and President, Americas. "Miami - a vibrant, dynamic and truly cosmopolitan destination that draws travelers from all over the world - is the perfect market for our iconic Waldorf Astoria brand."

Recently, Waldorf Astoria launched its "Live Unforgettable" campaign, which combines True Waldorf Service, iconic environments and its guests' desire to live in the moment. This brand positioning falls in line with PMG's core principles of creating innovative ways to offer a truly unique result of luxury living. By fusing these two entities, the bar is being raised within the Miami market in order to create a landmark destination.

Keeping with the brand's tradition, PMG will incorporate several signature elements at the Waldorf Astoria Hotel & Residences Miami. More information regarding the project will be made available in the coming months.

With condo-residential developments in Miami, New York and Chicago, PMG delivers premier luxury and high attention to detail throughout each of its projects. The developer is notable for meticulously-designed developments such as 111 West 57thStreet, Walker Tower and 111 Leroy in New York City, as well as Echo Aventura, Muse Residences Sunny Isles, Echo Brickell and Mei within South Florida. Currently, PMG is developing more than five million square feet of new development that will deliver the sophisticated design, high-end finishes and premium quality that the developer has come to represent.

Waldorf Astoria Hotel & Residences Miami will be managed by Hilton Management Services and will offer residences and guests alike a relentless commitment to personal service with Personal Concierges and True Waldorf Service.

"Our iconic hotels, resorts and residences around the world consistently create inspirational environments and impressive spaces worthy of hosting history," said Dino Michael, global brand head, Waldorf Astoria Hotels & Resorts. Waldorf Astoria Hotel & Residences Miami will not only transform the city skyline, it will usher in a new level of service in the Miami marker - creating an unforgettable experience for every resident and guest."

Property Markets Group (PMG)

Founded in 1991 by Kevin Maloney, PMG is a premier real estate investment, development and general construction firm. Principal Ryan Shear leads the company, which is headquartered in New York with offices in Miami and Chicago. PMG is one of the few remaining full-service, large-scale development companies with staff capable of maneuvering all facets of the development process. With direct hands-on experience in the acquisition, renovation, financing, operation and marketing of commercial and residential real estate, PMG has completed 85 residential buildings in New York, Florida, and Chicago, and over 150 real estate projects throughout the United States.

During its 27-year history, PMG has developed projects across all asset types and distinguished itself by focusing on premier luxury residential properties. Consistently enhancing the luxury experience, PMG is notable for meticulously-designed projects such as 111 West 57th Street, Walker Tower, Stella Tower, The Belnord, The Briarcliffe, The Kingsley, Mei Miami Beach and most recently, Echo Aventura, Echo Brickell and Muse Residences. Currently, PMG is in various stages of developing over 5 million square feet of residential property, including 10 Sullivan, Queens Plaza South, 111 Leroy Street, 548 West 22nd St and numerous other projects throughout Miami, New York City and Chicago.

For more information, visit: http://propertymg.com/.

About Greybrook Realty Partners

Greybrook Realty Partners is a Toronto-based asset management firm that invests equity in large-scale development-based opportunities. Greybrook Realty Partners offers investors the unique opportunity to partner with leading North American real estate developers and share in value creation activities. Greybrook Realty Partners and its affiliates have invested in over 50 real estate projects in Greater Toronto Area, Greater Golden Horseshoe region, and South Florida markets. In aggregate, its real estate investment portfolio is expected to result in the development of over 32 million square feet of residential and commercial density, with an estimated completion value of $14 billion CAD. Learn more about Greybrook by visiting www.greybrook.com/realty, and follow on Twitter and LinkedIn.

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