Construction Complete at Terra Beachside 6000 Collins Condominium

116-Unit, Six-Story Development Receives Temporary Certificate of Occupancy;
Project Exceeds 60% Sales Level in Six Months

MIAMI BEACH (September 3, 2010) – Developer BH III LLC (“BH3”) today announced construction has been completed at Terra Beachside 6000 Collins, its 116-unit, six-story upscale condominium community in the heart of Miami Beach at 60th Street and Collins Avenue.  The development received its Temporary Certificate of Occupancy from the City of Miami Beach and will soon begin closings.

Originally conceived by renowned architects Sieger Suarez, Terra Beachside 6000 Collins broke ground in 2004, but construction was halted before completion due to financial issues.  In November 2009, locally-based BH3, led by Charles Phelan, Gregory Freedman and Daniel Lebensohn, acquired the property.  The new developer re-launched construction and sales earlier this year, and in six months, more than 60% of Terra’s units have been sold.  The project recently received Fannie Mae and FHA approval.

“This is truly a landmark day for Terra Beachside 6000 Collins,” Freedman said. “We had high hopes when we assumed control of this magnificent property.  The sales pace has far exceeded our expectations and it’s incredible to see the project complete.”

Terra Beachside 6000 Collins’ innovative architecture includes a translucent, 400-foot atrium spanning the entire length of the property.  Beneath the atrium, Terra Beachside’s six floors overlook a courtyard of gardens and water features.  A three-story, cone-shaped lifestyle center, unique floor plans, rooftop terraces, ground-floor backyards and a collection of inviting features and amenities make Terra an ideal choice for those seeking a contemporary Miami Beach lifestyle.

Buyers can choose from four specially designed floor plans named for the four elements of nature.  Fire encompasses one bedroom/one bathroom at 1,095 square feet; Water offers two bedrooms/two bathrooms, plus a den at 1,882 square feet; Earth is made up of two bedrooms/two bathrooms, plus a den and private backyard at 2,052 square feet; and Wind boasts three bedrooms/three bathrooms, plus a loft and private rooftop terrace, at 3,495 square feet.   The 1,350 square-foot rooftop terraces, featuring picturesque views of Miami Beach, Downtown Miami, and Biscayne Bay, are ideal for relaxing and entertaining.

Residence amenities include Miele and KitchenAid appliances, custom-made designer kitchen and bathroom cabinetry, and Phillipe Starck designed HansGrohe and Duravit bathroom accessories.  Terra Beachside’s lifestyle center houses an 80-foot long curving lap pool, Jacuzzi, fitness center and media room. The property also includes high-tech electronic surveillance, 24-hour security, secured underground parking garage, wireless internet access throughout the property, and convenient beach access.

One- to three-bedroom residences range in size from 1,095 to 3,495 square feet and are priced from the high $200,000s to more than $600,000.  Each residence includes high-end finishes and 18-foot ceilings.  All two and three-bedroom units are two-story floorplans.  Three fully furnished models – two by the renowned Interiors by Steven G – along with a sales center are open on property.

Miami-based Pordes Residential oversees sales and marketing at Terra Beachside 6000 Collins.  Pordes Residential is operated by Mark Pordes, whose more than two decades of experience includes directing numerous sold out and completed condominium and condo-hotel developments throughout South Florida and The Caribbean.

Terra Beachside 6000 Collins is located just steps from the ocean and minutes from upscale Bal Harbour Shops and Aventura Mall, delicious fine dining, exciting nightlife, limitless leisure options, the Adrienne Arsht Center for the Performing Arts, scores of art galleries and Miami International Airport.

For additional information on Terra Beachside, please call 305-809-7560 or visit www.terrabeachside.com.