Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 570

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 5
Chunk 570
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 which resulted in a total sell-out value in excess of $550 million, as well
as the purchase of the development’s site, the former Miami Heart Institute. Additionally, Mr. Sternberg led the $120 million
sale of The Seagull Hotel, making it the highest grossing hotel sale of 2020 in Miami Beach. Mr. Sternberg and Lionheart Capital
are currently in development on a number of other projects, including retail properties in Miami’s fashion and culture epicenter,
The Design District. In addition to The Ritz-Carlton Residences, Miami Beach, Lionheart Capital also developed The Ritz-Carlton Residences
Singer Island, Palm Beach, cementing a reputation for developing high-end luxury branded properties.

In
2017, Mr. Sternberg founded Out of the Box Ventures, LLC, a Lionheart Capital subsidiary, to acquire and reposition distressed retail
properties throughout the United States. With properties in 10 states, Out of the Box Ventures currently controls over 5 million
square feet of big box stores, shopping centers and enclosed regional mall properties, with plans to improve and expand upon these acquisitions.

Mr. Sternberg
and Lionheart Capital are dedicated to working with best-in-class operators and partners such as Marriott International. Lionheart
Capital has been able to execute numerous, marquee transactions due largely in part to Mr. Sternberg’s extensive industry
relationships particularly with key institutional investors.

In
March 2020, Mr. Sternberg became Chairman of Nasdaq-listed OPES Acquisition Corp. (OPES), a SPAC, which on June 30,
2020, announced a definitive agreement to merge with BurgerFi International LLC. The OPES-BurgerFi merger closed on December 16,
2020 to form BurgerFi International Inc. (“BurgerFi”), a fast-casual “better burger” concept that consists
of approximately 108 restaurants nationally and internationally. Mr. Sternberg served as the Executive Chairman of the post-combination Nasdaq-listed company,
BurgerFi (Nasdaq: BFI), until May 2024, following his resignation from all positions of BurgerFi. The OPES team, led by Mr. Sternberg,
evaluated over 50 potential targets and negotiated Business Combination terms with multiple candidates in a span of a few months