C-Iii

Geoffrey H. Woodward is Chief Operating Officer of C-III Capital Partners and Island Capital Group, where he has overseen C-III's real estate services, technology, and data portfolio companies. He previously served as Vice President of Corporate Development for Gaylord Entertainment (now Ryman Hospitality) and worked as an investment banker at Avondale Partners, Robertson Stephens, and Morgan Stanley Dean Witter. He holds a BA in Economics from the University of Virginia and an MBA from Vanderbilt University's Owen Graduate School of Management.

Jeffrey P. Cohen is President of C-III Capital Partners and also President of Island Capital Group, where he has been a principal since its founding in 2003. He previously was an Executive Vice President at Insignia Financial Group, working on mergers and acquisitions, principal investments, and fund management, and earlier practiced as a corporate attorney at Rogers & Wells (now Clifford Chance). He holds a J.D. from Albany Law School and a B.A. in Political Science and Economics from the University of Vermont.

Marc W. Levy is Executive Managing Director and Co-Head of Investment Banking at C-III Capital Partners, where he focuses on mergers and acquisitions, corporate finance, and fund management activities. He is also Executive Managing Director of Island Capital Group, having been a senior executive there since 2003, and previously led the M&A and Business Development Group at Island Global Yachting. Earlier in his career he held senior roles at Insignia Financial Group and worked as a corporate associate at the law firm Rogers & Wells; he holds a J.D. from Fordham University School of Law and a B.A. from Tufts University.

Matthew J. Stern is Executive Managing Director and Co-Head of Investment Banking at C-III Capital Partners, where he has worked since the firm's founding in 2010, concentrating on mergers and acquisitions, corporate finance, and business development. He previously served as Managing Director in the investment banking and corporate finance groups at Centerline Capital Group from 2006 to 2010, and worked in the Global Mergers & Acquisitions Group at Lehman Brothers from 2003 to 2006. He holds an undergraduate degree from the University of Pennsylvania and an MBA from New York University's Stern School of Business.

Paul A. Hughson is an Executive Managing Director of C-III Capital Partners, which he joined via Island Capital Group in July 2009, and he also serves as a Vice President at Anubis Advisors. He previously spent 15 years at Lehman Brothers' Global Real Estate Group, where he led global credit distribution and its conduit securitization and bridge equity businesses, and earlier practiced real estate law at Thacher Proffitt & Wood from 1986 to 1993. He holds a J.D. from the University of Virginia and a B.A. from Tufts University.

Robert C. Lieber joined C-III Capital Partners in August 2010 as an Executive Managing Director, having previously served as Deputy Mayor for Economic Development under New York City Mayor Michael R. Bloomberg. He also holds roles as Executive Managing Director of Island Capital Group and Vice President for Anubis Advisors, and earlier spent 23 years at Lehman Brothers, where his positions included Managing Director in the Real Estate Private Equity Fund and Global Head of Real Estate Investment Banking. He holds a BA from the University of Colorado and an MBA from the Wharton School.

Alex Waddey is CEO and President of NAI Global, a commercial real estate firm, where he oversees all operations. He previously served as Senior Managing Director and Co-Head of the firm's Capital Markets practice and as General Counsel, and before that was a partner at the law firm Stites & Harbison focusing on commercial real estate and real estate finance. He holds a B.S. in Finance and Marketing from the University of Virginia's McIntire School of Commerce and a J.D. from the University of Tennessee College of Law.

Katherine Furman joined C-III Capital Partners in May 2011 and serves as Senior Managing Director of Fund Management & Administration for C-III Capital Partners and Island Capital Group, where she oversees fund management, accounting, investor reporting, and relationships with financial counterparties. She previously worked in the asset management group of a structured credit fund and, from 1993 to 1999, managed commercial real estate acquisitions and dispositions at Secured Capital Corp (now Eastdil Secured). She holds an M.B.A. from Duke University's Fuqua School of Business and a B.A. in Economics from Cornell University.

Lawrence (Larry) Block serves as Managing Director, Counsel and Chief Compliance Officer for C-III Capital Partners LLC and Island Capital Group LLC, and as President and Chief Compliance Officer of Anubis Securities LLC, roles he took on in January 2011. He previously held general counsel and chief compliance officer positions at The Kenmar Group and Lipper & Company L.P., and worked as an attorney at Cadwalader, Wickersham & Taft and Proskauer Rose LLP. He holds a B.S. in Business Administration from the University of North Carolina at Chapel Hill and a J.D. from the University of Pennsylvania School of Law.