DEVELOPMENT PROJECTS

Strand Capital Group is the premier real estate developer along South Carolina's Grand Strand. By selecting the most desired oceanfront and intracoastal waterway locations Strand consistently delivers what more pre-construction buyers want - prime locations, quality, and value.  Strand Capital specializes in pre-construction destination resorts and with over $1.5 billion in 3,000 new resort residential units in the planning stages Strand continues to lead the South Carolina coastal market. Strand Capital is actively involved in condo/hotel management and operations through its affiliate Patricia Resorts. Strand and its partners have acquired, developed and now manage over 2,000 condominium / hotel accommodations along the Grand Strand.

SEA MIST RESORT
Myrtle Beach, SC

A 1,570 unit $750 million all-inclusive 12.1 acre resort located at 12th Avenue South in Myrtle Beach now in the pre-construction
and planning stages. This mixed-use ocean front resort received special permitting from the City of Myrtle Beach in October of
2005 and will begin construction in 2006. “It is the most beautiful project that we've ever had brought to the city, and it epitomizes what we look for in a [planned unit development]," Council
woman Susan Grissom Means stated during the City Council
review process. Former Mayor Mark McBride also stated during
the review that the project “would dwarf Broadway at the Beach, Coastal Grand and everything that's happening on the air base. "This would be the largest development that's ever taken place inside the City of Myrtle Beach." The resort will feature numerous restaurants, retail shops, sun plazas, indoor and outdoor water features and an on-site water park. The project is expected to contribute over $5 million in public improvements to the neighborhood inlcuding new street end public parks, streetscaping throughout the PUD district and a grand entry corridor from Highway 17 along 13th Avenue to the ocean front.

Timbes Architectural Group created the master plan and will serve as the project architect while Landmark Builders of South Carolina is expected to participate as the general contractor.

PRINCE RESORT AT THE CHERRY GROVE PIER
North Myrtle Beach, SC

A 427 unit $150 million oceanfront resort located in the Cherry Grove section of North Myrtle Beach featuring a fishing pier, retail outlets, and dining facilities. Construction of Phase I began in the spring of 2005.

ANDERSON OCEAN CLUB
Myrtle Beach, SC

A 304 unit $120 million oceanfront resort located at 26th Avenue North in Myrtle Beach. This resort will be developed in a single phase and is an integral part of the 26th Avenue PUD which Strand successfully created with the City of Myrtle Beach originally in November 2002. Construction began in February 2006 and occupancy is expected no later than September 2007. The Anderson Ocean Club will feature exotic Moroccan and Spanish-Colonial architecture, lavish landscaping, an exceptional array of recreational amenities, breathtaking oceanfront views, a new oceanfront park, increased ceiling heights for residential units, granite counter tops, and an on-site full-service spa. Public benefits of the development are expected to exceed $1.5 million. Pegram Associates, Inc. designed the facility which will be constructed by Dargan Construction Company.

FAIRFIELD OCEAN DRIVE
North Myrtle Beach, SC

Strand is currently developing a four-phase 544 unit ocean front resort in the Ocean Drive section of North Myrtle Beach for Fairfield Resorts, Inc., a wholly owned subsidiary of Fortune 300 conglomerate, Cendant Corporation. This build to suit development for one of the largest timeshare companies in the world, is valued in excess of $120 million and was created in conjunction with the City of North Myrtle Beach via a PUD Agreement.

The 4th and final phase of the project is scheduled for completion and occupancy in June of 2006. Architects Timbes Architectural Group designed this facility. Baiden & Associates constructed Phase I while Landmark Builders of South Carolina constructed Phases II, III, and IV.

BAYWATCH RESORT AND CONFERENCE CENTER
North Myrtle Beach, SC

$90 million three-phase condominium development comprised of 523 units in the Crescent Beach section of North Myrtle Beach. The resort also features two ocean front restaurants, over 500 feet of pool decking and water features along with full-service meeting
and banquet facilities. Bay Watch was developed within a Planned Unit Development Agreement (PUD) with the City of North Myrtle Beach. The third and final phase of the development opened for occupancy in July of 2003. The summer of 2005 welcomed the addition of Fishtails – a unique ocean front open-air tiki bar with decking constructed from the Brazilian hardwood ipè. Architects Pegram Associates, Inc. designed the facility which was constructed in just over 3 years by Dargan Construction Company.

BEST WESTERN CAROLINIAN BEACH RESORT
Myrtle Beach, SC

Initially a $7 million acquisition of the Carolinian Hotel, Strand has obtained a PUD designation from the City of Myrtle Beach for over 4.7 contiguous acres, obtained a franchise agreement with Best Western and has added an additional 129 ocean front condominiums and a new parking facility. This project, including a complete facelift of the original hotel property, is valued in excess
of $32 million and reached completion in the spring of 2004. Public benefits provided by the development to the City of Myrtle Beach include utility burial along Ocean Boulevard, a new public parking lot, widened sidewalks, tear drop light fixtures, public benches and planters, public beach access and tropical streetscaping – a total public benefit in escess of $1 million. In September of 2004 the 2nd phase of this PUD development began with the commencement of construction on the Bluegreen Carolina Grande facility. Architects Timbes Architectural Group designed this facility which was constructed in 16 months by Baiden & Associates, Inc.

BLUEGREEN CAROLINA GRANDE
Myrtle Beach, SC

$21 million / 118 unit resort constructed exclusively for the Bluegreen Corporation – a leading provider of leisure services and vacation ownership. A certificate of occupancy was received in November of 2005 with guests expected to arrive in the spring of 2006. This project features on-site parking, a sales center, and an elevated outdoor amenity and recreational sun deck located on the 6th floor providing stunning views of the ocean as well as the
Myrtle Beach skyline. Architects Timbes Architectural Group designed this facility which was constructed by Landmark Builders
of South Carolina.

HARBOURGATE MARINA
North Myrtle Beach, SC

This project consists of a 108-unit $25 million waterfront condominium and marina development in North Myrtle Beach. The Harbourgate complex resides along the intracoastal waterway in
the Little River section of North Myrtle Beach and consists of the
all-new residential units, Filet’s restaurant and waterfront tiki bar, the Great Places sales center, and exclusive waterfront office
space for lease. The grand opening is scheduled for April 2006.
Timbes Architectural Group in conjunction with the Garvin Design Group served as the project architects for the new condominium buildings while Landmark Builders of South Carolina served as the general contractor.

PARK PLACE
Carolina Beach, NC

$55 million 92-unit luxury condominium project is now in the pre-construction planning stages. Special zoning for construction was granted by the Town of Carolina Beach in the form of a Conditional Use Permit in August of 2004. The project will feature on-site covered parking, ample retail parcels, a rooftop restaurant and lounge, new public parking spaces, and will be the tallest structure in the Town of Carolina Beach.
Construction is anticipated to commence in the fall of 2006.

SANDS RESORTS
Myrtle Beach, SC

In 1999 Strand structured the $65 million acquisition of the then largest resort group on the Grand Strand comprised of over 1,600 condos and hotel rooms. Strand immediately then served as the developer of a $40 million 130 unit, all three-bedroom condo
tower and water park expansion.

CAMELOT RESORT HOTEL
Myrtle Beach, SC

Strand has obtained a leasehold interest in this ocean front resort comprised of 230 1, 2, and 3-bedroom condominium units and is currently operating this resort condo-hotel under the Patricia Resorts management company. Camelot is centrally located at
20th Avenue North in Myrtle Beach and is extremely popular destination. Nearby attractions include the Myrtle Beach Pavilion, Broadway at the Beach, Margaritaville, and Ripley’s Aquarium. Architects Pegram Associates, Inc. designed the facility which was constructed by Dargan Construction Company.

CORAL BEACH RESORT HOTEL
Myrtle Beach, SC

In 1998 Strand structured the $28 million acquisition of this 301 suite and hotel unit property. Coral Beach was recently named the #1 Family Beach Resort Hotel on the Grand Strand by the Travel Channel, which also named Myrtle Beach #8 in its recently released and televised special of the top ten beaches in America. While named #8 overall, Myrtle Beach was simultaneously named the #1 Family Beach destination in the United States.

OCEAN PARK
Myrtle Beach, SC

Strand participated in this $7 million acquisition of this 125-unit ocean front condo hotel in 2001. The property is currently managed by Patricia Resorts and is a family favorite in south Myrtle Beach located at 19th Avenue South.

PATRICIA GRAND
Myrtle Beach, SC

In 1999 Strand structured this $35 million acquisition of the 308 room historic Patricia Grand Resort Hotel.
The Patricia Grand then served as the cornerstone property in the creation of the Patricia Resorts management group which manages many Strand Capital Group property’s rental operations. The Patricia Grand was originally constructed in 1984 and has been a family favorite in Myrtle Beach for over 20 years.

NORTH MYRTLE BEACH CORPORATE CENTER
North Myrtle Beach, SC

In February of 2004 Strand completed construction of the first Class-A office building in North Myrtle Beach comprised of over 54,000 square feet of retail and office space. Tenants include Fairfield Resorts, Landmark Builders of South Carolina, Southeastern Waterway Sales, Pyramid Engineering, Port City
Java, SunCom/A1 Wireless, Trader Publishing Company, Bank of America and the Strand Capital Group.

The Corporate Center is conveniently located just south of Main Street along Highway 17 and adjacent to the City of North Myrtle Beach municipal complex and the North Myrtle Beach Aquatic and Fitness Center.

MARGARITAVILLE OF MYRTLE BEACH
Myrtle Beach, SC

Strand holds a ground lease and served as the developer of this $6.5 million restaurant and bar which anchors the all-new Caribbean themed harbor at Myrtle Beach’s #1 shopping, entertainment, and dining complex – Broadway at the Beach.

ARROWHEAD GRANDE
Myrtle Beach, SC

A 42-acre residential development on the intracoastal waterway featuring luxury waterfront homes as well as additional inland
home sites with waterway access

AMBASSADOR EAST
North Myrtle Beach, SC

A $1.8 million acquisition in the spring of 2004 of an existing oceanfront hotel. Demolition and redevelopment of an $8 million multi-family structure commenced in August of 2005. This
exclusive property includes 9 luxurious oceanfront condominiums featuring up to 6 bedrooms and ranging in total square footage from 3,000 – 4,000 each. Occupancy is expected by June 2006.

PEARL VILLAS
North Myrtle Beach, SC

A $1.8 million acquisition in the spring of 2004 of an existing oceanfront hotel. Demolition and redevelopment of an $8 million multi-family structure commenced in August of 2005. This
exclusive property includes 9 luxurious oceanfront condominiums featuring up to 6 bedrooms and ranging in total square footage from 3,000 – 4,000 each. Occupancy is expected by June 2006.

FAIRFIELD BEACH COTTAGES
North Myrtle Beach, SC

This $9 million beach cottage project was designed and
constructed to serve as a complement to the 544 unit high-rise ocean front resort now under development also by Strand. The project features 40 luxurious beach cottages along with a neighborhood recreational center and swimming area ideal for outdoor gatherings

CONDO CONVERSIONS, LLC
North Myrtle Beach, SC

Condo Conversions, LLC was recently established converting over 600 hotel suites into condominiums. Patricia Grande is currently converting 130 out of 308 hotel suites to condominiums. Coral Beach Resort Hotel is currently converting all 301 hotel suites to condominiums. Sea Mist Resort is currently converting 2 phases – the Driftwood and the Tides including a total of 269 suites into condominiums. This entity will include other major hotels along the Grand Strand in the near future.

HOLIDAY SHORES/DIXIE HOTEL
Myrtle Beach, SC

Approximately $2 million in acquisitions of second row hotels in Myrtle Beach and North Myrtle Beach with potential future development opportunities.