The Martin to Undergo $3 Million Redesign, Development Team behind The Viceroy Enlisted

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Five-star amenities and services added to condo offering, 100th residence sold

“The Martin is a once-in-a-lifetime opportunity to purchase a home in a well-designed, well-located luxury residential project offering five-star amenities and services at an affordable level"

A world-class team of hospitality, design and architectural firms have been enlisted to complete a $3 million redesign for The Martin, a high-rise residential tower in Las Vegas owned by iStar Financial as part of its Residential Division ("iStar Residential"). The redesign will include a renovation of the building’s common areas and the creation of an Effortless Ownership program offering five-star services to residents.

The Kor Group, the Los Angeles-based developer and design team behind Viceroy Santa Monica and Viceroy Anguilla, will lead the sales and marketing, interior design and Effortless Ownership program. Mark Tessier, the award-winning Los Angeles-based landscape architect, will design the green spaces. As of last week, 103 residences at The Martin have already been sold.

“The Martin is a once-in-a-lifetime opportunity to purchase a home in a well-designed, well-located luxury residential project offering five-star amenities and services at an affordable level, which can and will never be replicated again at these price points,” said David Sotolov, senior vice president at iStar Residential. “Despite the state of the Las Vegas real estate market over the last couple years, we have maintained strong sales that continue to gain momentum as the market recovers. Our re-investment in The Martin will further improve and solidify the luxury, high-end quality of the asset.”

The redesign of the common areas will begin in September and includes the porte-cochere, lobby, library lounge, pool area and poolside lounge, spa and fitness center, business center and conference room. Completion is expected by mid-December. The Effortless Ownership program that offers five-star services to residents is currently in development and will be available next month.

“We’re excited about the partnership and believe the combined resources of The Kor Group and iStar Residential will redefine luxury living in Las Vegas,” said Tripp DuBois, vice president of marketing and sales at The Kor Group. “Our goal is to create lasting value for our purchasers, investors and the community. Through inspiring design and highly serviced amenities, we are offering effortless ownership and casual luxury that is guaranteed to make your first home jealous of your second.”

The Kor Group is responsible for the award-winning development and construction of over 10,000 apartment and condominium units, including the successful Eastern Columbia building and Barker Block development in Los Angeles, and development of a world-renowned collection of hotels and resorts including the Viceroy and Tides brands.

Located one-block west of the Las Vegas Strip and steps from the heart of CityCenter, The Martin is a 45-story high-rise residential tower offering unparalleled views, five-star services and amenities and exclusive access to the best of what Las Vegas has to offer. The Martin features 372 one- and two-bedroom modern, spacious residences, all of which have views of the Strip, designer finishes, state-of-the-art technology and spacious floor plans, ranging in size from 1,035 to 1,962 square feet. Five spectacular penthouses, from 3,653 to over 13,000 square feet, grace the top three floors. Prices range from the mid $200s to over $1.5 million.

For more information about The Martin, call 702-739-3002 or visit http://www.themartin.com. The Martin is located at 4471 Dean Martin Drive, with entry off Jerry Lewis Way.

About The Martin
Located one-block west of the Las Vegas Strip and steps from the heart of CityCenter, The Martin is a 45-story high-rise residential tower offering unparalleled views, five-star services and amenities and exclusive access to the best of what Las Vegas has to offer. The Martin features 372 one- and two-bedroom modern, spacious residences, all of which have views of the Strip, designer finishes, state-of-the-art technology and spacious floor plans, ranging in size from 1,035 to 1,962 square feet. Five spectacular penthouses, from 3,653 to over 13,000 square feet, grace the top three floors. A $3 million renovation is underway by The Kor Group, the developers and design team behind The Viceroy Santa Monica and The Viceroy Anguilla and award-winning landscape architect Mark Tessier. For more information, visit http://www.themartin.com or call 702-739-3002.

About iStar Residential
iStar Residential is one of the largest investors in luxury condominium, multifamily and master-planned residential developments throughout the United States, having financed and invested in $10 billion of residential projects since 1993. iStar Residential's portfolio has included interests in over 18,000 condominium units in the nation's top markets and 65,000 acres in master planned communities having the potential for an estimated 50,000 single family and multifamily units. The Company's unique, fully-integrated platform extends from property entitlement and development to construction, bridge and long-term financing through asset servicing, property and portfolio management. iStar Residential is a division of iStar Financial, a $9 billion finance and investment company focused on the real estate industry and traded on the New York Stock Exchange under the symbol "SFI". For more information, visit http://www.istarresidential.com.

About The Kor Group
An innovative presence in the real estate and travel communities, The Kor Group is a privately-held real estate investment firm comprised of integrated development, design & construction, real estate sales & marketing, and hotel & residential management divisions. Since 1990, Kor has acquired, repositioned and managed over 10,000 multifamily units. Its proven performance and highly experienced management team ensures substantial deal flow and influential network connections in both regional and national real estate markets. Kor’s dedication to client service & creative lifestyle experiences its strong passion for authentic & world-class visionary design has set the company apart since its inception. Visit http://www.thekorgroup.com.

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