DWH

an overview of

DWH Strategic Advisors LLCDevelopment Consulting & Sustainability Services

A STRATEGIC PARTNER OF CUSHMAN & WAKEFIELD

DWH

DWH Strategic Advisors, LLC (DWH), a strategic partner of Cushman & Wakefield, appreciates the opportunity to share our capabilities as a trusted partner in providing Development Consulting & Sustainability Services including:

DWH provides Fee Master Development services and Pre-Development Process Management to ensure that our clients achieve the greatest return on their valuable real estate assets while minimizing risk. DWH approaches assignments from both the investor & the user perspectives so no money is left on the table.

DWH INTRODUCTION

Development Consulting

Transit Oriented Development (TOD)

Creative Direction / Development Planning

Highest & Best Use Analysis (HBU) –

Area Competitive Analysis (ACA)

Marketing Strategy & Positioning, leading to:

Branding

Feasibility Analysis

Community Interface/Entitlement Processing

Public Private Partnerships (P3)

DWH

DWH Strategic Advisors, LLC (DWH), a strategic partner of Cushman & Wakefield, provides clients access to sustainable technologies implementation. We save clients energy, improve the bottom line and bolster public perception through participation in sustainable practices.

DWH provides clients access to commercially viable green technologies. Whether it’s solar power at no capital cost to a building owner, relamping that has 18 month payback periods or a web-based energy management system that begins saving the client money upon installation, DWH is there. DWH offers solutions to reduce energy use that don’t forget the most important “green” – the bottom line.

DWH INTRODUCTION

Sustainability

■ Solar

■ Relamping

■ Energy Systems Management

■ Brownfields Redevelopment

■ Landfill Redevelopment

DWH

DWH STRATEGIC ADVISORS LEADERSHIP

Peter WaldtManaging Partner

Robert HutchinsonManaging Partner

William BraunAffiliated Consultant

Roland DavisAffiliated Consultant

Integrity, due diligence, significant real world experience

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DWH SERVICE DELIVERY

▪ Maximize value & mitigate risk

▪ Enable informed decisions

▪ Disposition strategy comparisons (sale, sublease, buy-out, sale- leaseback, etc.)

▪ Management of all components of the pre-development process with an unyielding commitment to cost efficiency, asset value preservation and regulatory compliance.

BEN

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ConceptPre- Development

Financial Planning

Marketing Strategy

Development Process Management

▪Advisory

▪CapitalStructuring

▪ Incentives

▪Conceptualization

▪ Idea Refinement

▪ Market Research & Analysis: HBU/ACA

▪Feasibility Analysis

▪ Business Planning

▪ Repositioning &Reuse Strategy

▪ Go to Market Implementation

▪ RFP

▪ Transaction Partnership w/brokerage

▪Asset Positioning

▪ Marketing Plan

– Branding

Construction

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DWH MARKET FEASIBILITY ANALYSIS

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To best identify the most suitable development or re-use alternative for your real estate assets, DWH provides Pre-Development Market Feasibility services, including:

Investor Side Market Feasibility:

Market Analysis & Forecasting

Demand Analysis

Market & Financial Feasibility Studies

Real Estate Forecasting

Retail Feasibility (in coordination with C&W Retail Consulting)

Development Feasibility Studies

Marketability Assessment

Highest & Best Use Analysis

Clearly identifies highest & best use for specific assets Creates realistic expectations of product absorption Sets realistic price points for developers’ end products Utilizes access to Cushman & Wakefield Global Consulting to provide world wide

best in class data & analysis Serves as the basis for a targeted, “pro-active” marketing strategy that targets the

appropriate development partners

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USER SIDE AREA COMPETITIVE ANALYSIS

Develops a profile of area characteristics that matter Builds the “business case” for the area that aligns the project with the end user’s

requirements Identifies specific tenants that match target resident profile Provides specific recommendations for addressing and/or mitigating area

negatives and constraints Serves as the basis for a targeted, “pro-active” marketing strategy based on a

systematic process that mirrors the tenant decision process

BEN

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The Area Competitive Analysis (ACA) turns the corporate location process UPSIDE DOWNto help land owners, developers and economic development agencies to position their specific location to effectively compete, using corporate location decision criteria.

Drill DownProcess

Criteria

SiteSpecific

Market Access

Transportation

Costs

Labor Markets

Site

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DWH TRANSIT ORIENTED DEVELOPMENT ADVISORY SERVICES

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DWH provides TOD Advisory Services to:

Labor Markets

Transit Agencies seeking to monetize assets in a manner that does not interfere with their core missions

Municipalities seeking to create more livable cores

Corporate and Private Property Owners, looking to monetize real estate assets through “TODs”

Unlike competitors, DWH understands that TOD requires balancing the tension among three disparate needs:

Rail & Bus Operation is the core business.

Public Stakeholders must satisfy their constituents.

Development must reflect market conditions and

provide sufficient and timely returns. DWH professionals have worked on some of the largest & most complex TODs in North America.

DWH

Public/private partnerships are creative alliances formed between a government entity and private developers.

Integral to Pre-Development Process Management, DWH sets the groundwork for successful joint ventures through careful planning and consensus building with key stakeholders.

DWH PUBLIC PRIVATE PARTNERSHIPS

Labor Markets

Pri

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Create a shared vision

Define roles and responsibilities

Establish decision-making process

Define risks and rewards

Negotiate a fair deal structure

“No longer can private capital be relied on to pay the high price of assembling & preparing appropriate sites for redevelopment. No longer can local governments bear the full burden of paying the costs of requisite public infrastructure & facilities.”

Urban Land Institute’s “Ten Principles for Successful Public/Private Partnerships”

DWH

DWH matches solar power development with public and private property owners throughout the United States:

DWH provides clients access to commercially viable green technologies. We bring executable expertise to the table and a team that produces feasible, financeable projects that can be implemented in the present tense. DWH offers solutions to reduce energy use that don’t forget the most important “green” – the bottom line.

DWH RENEWABLE ENERGY

Solar Power Production

■ Over 200 MW proposed

■ Projects negotiated from coast to coast including New Jersey, California, Colorado, and Ontario, Canada.

■ Zero capital cost to building owner and tenant

■ Projects strictly in implementable states

■ Projects offer reduced, predictable costs for electricity.

DWH

DWH assists public and private clients improve the bottom line through a holistic approach to energy use reduction:

DWH provides clients access to commercially viable green technologies. We bring executable expertise to the table and a team that produces feasible, financeable projects that can be implemented in the present tense. DWH offers solutions to reduce energy use that don’t forget the most important “green” – the bottom line.

DWH ENERGY – USE REDUCTION

Use Reduction – Greening of Operations

■ Macro and Micro level energy management systems to control use and billing, resulting in reduction of energy consumption and appropriate cost allocation

■ Relamping to provide the quality and quantity of light required, where and when it is required…and only there and then.

■ Use of state-of-the-art Return on Investment model to clearly state payback period.

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DWH BROWNFIELDS REDEVELOPMENT

Labor Markets

While DWH handles real estate due diligence and repositioning, DWH’s Strategic Partners provide products that manage risk:

•Environmental Insurance Products

•Cost Cap & Pollution Legal Liability Insurance

•Remediation & Risk Transfer Combined

•Liability and Risk is Assumed at Fixed Price

•Financial Assurance and Insurance to Guarantee Performance

•Payment Typically is a Single Upfront Payment

•Cleanup is Completed in Accordance with All Applicable Standards

One stop shop for impaired property insurance, remediation, repositioning and disposition.

PR

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DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDYMidtown Plaza - Rochester, NY

Provided the City of Rochester a suite of pre-development services in preparation for the repositioning and disposition of a The Midtown Plaza Mall located in the heart of Rochester, NY, including:

Market Feasibility AnalysisCompetitive Location Assessment (CLA)Development Advisory Services (DAS)

The CLA detailed the mix of end uses that will most likely result in a vibrant redevelopment and be required by major tenants and the target population.

The pro formas developed for each component contemplated by the market analysis test each component for its feasibility under real world lending, cost, and revenue conditions.

The DAS informed the decisions of the urban design efforts regarding location, size, typology and phasing of the program to result in plan alternatives with the greatest likelihood of success, transforming a blighted 8.5 acre downtown site into a vibrant, 24/7 mixed use community that capitalizes on assets in place and brings new life to the entire area.

PAETEC Operations CenterOver Commercial Block

Hotel

Residential/OfficeBlock

Residential Tower

Residential Tower

PAETEC Tower

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DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDYAquatic Park Science Park, Berkeley, CA

Provided the private landowner a suite of pre-development services in preparation for the repositioning and disposition of the largest potential industrial development site in West Berkeley, CA, including:

Competitive Location Assessment (CLA)Development Advisory Services (DAS)Community Interface/Entitlement Processing

The CLA detailed the specific industries that would be most likely to locate at the site.

The Community Interface/Entitlement Processing deeply engaged the City of Berkeley in its West Berkeley Plan rezoning. In partnership with the City Economic Development office, and other developers and landowners, informed on specific constraints to West Berkeley economic development and recommended modernization of zoning code to best capture firms identified in the CLA.

The DAS created alliances with University of California at Berkeley, Lawrence Berkeley National Lab and the East Bay Green Technology Corridor to better position the property and provide the opportunity for ongoing relationships for future high tech users of the site.

The DAS also identified specific improvements to Capitol Corridor transit facilities and created alliances between City and Capitol Corridor to implement Transit Oriented Development.

In coordination with C&W Brokerage, The DAS created a branding book for the site

DWH

DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDYSeattle Railroad Air Rights Disposition

In coordination with C&W Transaction Consulting, provided a major freight railroad pre-development services in preparation for the disposition of air rights above a mainline right of way and commuter and Amtrak passenger station in Seattle, Washington . The Development Advisory Services assignment included:

Identification of the station area parcels most suited to air rights disposition.

Creation of a scoring model to evaluate a development proposals that measures constructability, impact on operations during construction, compatibility with freight & passenger operations once built, incremental cost to railroad, etc.

Evaluated a developer’s proposal for an overbuild of the station area.

Recommended modification to developer’s proposal that reduced the cost of platform construction by 50% and removed fatal flaw – a conflict with freight operations . The result was a project that was financeable and compatible with rail operations.

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DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDY

Atlantic Yards - Brooklyn, NY

Managed the largest mixed-use project in New York City for the Metropolitan Transportation Authority (MTA).

Managed the RFP process for disposition of LIRR’s Vanderbilt Yards Negotiated and hired staffing to include appraisal services personnel Leveraged knowledge of railroad expertise in designing the layout of the new yard so that it could accommodate a 20,000 seat arenaManaged MTA’s interaction with developers (including Forest City Ratner) and local and state economic development officials Negotiated terms of disposition of air rights and real property and provision for continued operations of the LIRR’s Vanderbilt YardsRedevelopment will result in the improving the efficiency of the rail operation by eliminating a reverse move on the main line that “fouled” one mile of track

DWH

DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDY

Northampton & Main Redevelopment Advisory - Wilkes-Barre, PA

Provided the Greater Wilkes-Barre Chamber of Business and Industry a suite of services in preparation for the repositioning and disposition of a critical downtown parcel at the City’s center, including:

•Housing Study•Area Competitive Analysis (ACA)•Development Advisory Services (DAS)

The finished product includes three development options, each providing innovative mixed-use programs uniquely tailored to the site and based on the synthesis of the studies, personal stakeholder interviews, and DWH development experience.

Innovative development elements include privately funded educational facilities, an indoor fresh foods marketplace, a regional test kitchen, small business incubator, market rate housing, historic façade restorations, and street front retail opportunities.

The results are phased, applicable, actionable and ready for implementation

DWH

DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDY

Wilkes University, Wilkes-Barre, PA

As a follow up to a previous assignment, DWH is currently advising Wilkes University on the redevelopment of the Stark Learning Center into the Science, Health and Engineering Center, including the Marcellus Shale/Energy Institute. Identified building program and financing structure that maintains current credit rating.

DWH advised Wilkes University on start-up law school facility. The team analyzed a proposal for off-campus location, distilling complex financial plan so that administration could understand actual occupancy cost. Further, we identified a lower-cost alternative, which contemplates innovative sales-lease back structure permissible within University’s current debt covenants and brought in developer to complete the project.

President Tim Gilmour: “DWH is great. They took a very complicated proposal and quickly broke it down into digestible bits. They created an alternative that will allow us to build a law school in the current economic climate. They are exceptionally client-driven.”

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DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDY

Wilkes Barre Industrial Land Solar RFP, Wilkes-Barre, PA

Utilizing DWH’s previous experience in solar development, including participation in the creation of solar power (personal property) leases, DWH drafted a Request for Proposals (RFP) for the leasing of Greater Wilkes-Barre Chamber of Business and Industry controlled land or the entering into a joint venture with the Chamber for the purpose of constructing and operating solar power facilities on such lands.

The RFP was constructed in such a way as provide the Chamber responses from the most qualified solar providers choosing to be active in the Northeastern Pennsylvania market.

The RFP attracted more than 40 solar power developers, resulting the selection of a provider that will construct in the first phase, six megawatts of solar power in two industrial parks, providing power to park occupants while paying rent to the Chamber.

DWH

DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDY

Lead the strategy and execution of Development Consulting and Brokerage Services for approximately 3.1million square feet of development rights on riverfront parcels known as the Southern Gateway Project. This complicated mixed-use project involves over $100 million in infrastructure improvements funded by Pennsylvania Department of Transportation including an improved roadway network, plinths and parking structures located in a flood plain.

The assignment included an industry aggregation strategy for potential users that will capitalize on Harrisburg’s significant functional food cluster.

Harrisburg Redevelopment Authority

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DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDY

Darien Conservation Park - Panama

■ Darien Conservation Park represents a new model for eco-friendly sustainable development, integrating the creation and stewardship of a 30,000 hectare (80,000 acres) private park with a low density minimal impact development

■ Located 150 kilometers miles east of Panama City on the Pacific Ocean towards the Colombian border, C&W is currently providing Development Consulting, Development Management, Capital and Real Estate Transaction Management and Program Management Services

Darien Conservation Park will be the first world-class destination in Panama, and forge a new model of sustainable development for the future. Objectives include:

- Creation of a 30,000-hectare private park with three eco-lodges and a scientific research facility - Substantial investment in green design & construction methods- Creation of Investment in local communities by providing education, micro-credit and training programs- Promotion of eco-tourism in area with cultural and ecological attractions - Large-scale reforestation program will reforest cleared land and create carbon recapture credits- Preservation of cultural heritage of Indian, Mestizo and Black communities- Preservation and restoration of existing flora and fauna under threat, including mangrove and rainforests- Significant reduction in poverty with creation of over 3,000 jobs during construction phase and 5,000

permanent quality jobs

DWH

DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDYHudson Yards Infrastructure Corporation – New York, NY

The redevelopment of the area as a vibrant 24/7 mixed-use community has been a priority for New York City to retain its

position as the region’s main economic engine in the future.

The Team provided a detailed analysis of economic, demographic, and real estate trends in Manhattan, as well as

competitive regional real estate markets.

The demand forecasts were assessed with a review of City tax and incentive programs to determine future revenue from

the area’s development.

The analysis identified potential revenue associated with development of $40 billion over the 30-year forecast. Revenue

sources included real estate property taxes, PILOT (Payments in Lieu of Taxes), and other recording taxes.

The study was used to validate revenue projections and development fees anticipated to support repayment of $2 billion

in senior revenue municipal bonds issued to finance the infrastructure costs necessary to develop the area. New

development and infrastructure (subway extension and park lands) are initiated and under construction.

The mix of uses recommended by the team was the basis for the area’s overall master plan.

The project scope consisted of a real estate market analysis and 30-year development forecast of retail, office,

residential, and hotel demand

totaling 43.0 million square feet for a

large 45-block area (300+ acres) of

underutilized land on the west side

of Midtown Manhattan fronting the

Hudson River that was originally

targeted as the primary site for New

York’s 2012 Olympic bid.

DWH

DWH RELEVANT EXPERIENCE

Labor Markets

CASE STUDY

Provided Development Consulting services in coordination with C&W Brokerage for one of the largest sustainable developments in the US located on the Cooper River in North Charleston, SC.

On a former U.S. Navy Base, the large urban infill site (340 acres) is entitled for up to 10 million square feet of commercial space and up to 6,000 units of housing.

Noisette – North Charleston, SC

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DWH TEAM

PETER V. WALDT MANAGING PARTNER

Peter Waldt is Managing Partner in DWH Strategic Advisors, LLC a strategic partner of Cushman & Wakefield and a licensed Broker in the State of New York. DWH is a spin off of C&W Development Consulting service line operating in the US, Canada, and Central and South America.

Mr. Waldt’s focus is providing superior client service including development advisory, property acquisition and disposition, and office, industrial and retail leasing services. As Senior Managing Director of Development Consulting for C&W, his assignments includedbringing the largest sustainable development in the U.S. to market and advising a large railroad on the disposition of air rights. He conceived and managed C&W’s Brownfields initiative, a nationally marketed joint venture with TRC, an environmental remediation and risk transfer firm for environmentally challenged real estate. Mr. Waldt’s clients include Con Edison, Cablevision, Casa Casuarina, BNSF, Noisette, CIBA, Toronto Transit Commission, Darien Conservation Park, Harrisburg Redevelopment Authority, The Greater Wilkes-Barre Chamber, the City of Rochester, Aquatic Park Science Park (Berkeley, CA), the Puerto Rico Science, Research & Technology Trust, and Wilkes University.

Prior to C&W, Peter’s primary mission with the Metropolitan Transportation Authority was to generate cash flow from under- and non-performing assets. Responsibilities included the creation and implementation of the MTA Sponsorship Program, creation and implementation of the MTA Transit Orient Development Program, management of the West Side Yard & Vanderbilt (Brooklyn Arena) Yard developments, acquisition of the Mineola Intermodal Center, and Evaluation & Brokerage of all 14,000 parcels of MTA real estate.

For 12 years prior to the MTA position, Mr. Waldt was the head of underwriting for Empire State Development (formerly Urban Development Corporation, with the titles VP of Commercial Lending & Real Estate Finance and VP of Project Finance). He had the opportunity to work on over 30 sports facility projects, over 100 large development projects, over 1,500 real estate financings and over 5,000 financial transactions. He previously had planning and budget positions at MetroNorth and the MTA.

Peter has a graduate degree in Public Policy Analysis and an undergraduate degree in History from the University of Rochester. He has been a guest lecturer at the Columbia University real estate program, NJIT Graduate Architecture program and a Visiting Professor at the NYU Sports Management certificate program. He is a Member of the Board of Habitat for Humanity – Newark.

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DWH TEAM

ROBERT S. HUTCHINSON, MBA, AICP MANAGING PARTNER

Robert Hutchinson is Managing Partner in DWH Strategic Advisors, LLC, a strategic partner of Cushman & Wakefield. DWH is a spinoff of C&W’s Development Consulting service line operating in the US, Canada, and Central and South America.

Over the course of his career and prior to his work with C&W and as managing partner in DWH, Mr. Hutchinson has ascended through a progression of public and private sector engagements to Vice President of a private real estate development and investment firm. Mr. Hutchinson has successfully completed projects throughout the United States and in Latin America, ranging from infrastructure and real estate development to placement of private equity from United States and European sources. His clients and engagements have included several Federal, State, and local governments and agencies, including The Port Authority of New York and New Jersey, Verizon Wireless, AT&T, Federal Highway Administration, and Wachovia Corporation.

Currently, Mr. Hutchinson is engaged in real estate advisory and financial structuring assignments where he leverages his expertise in real estate development, planning, infrastructure, and business development consulting. Recent work includes renewable energy development and siting, Brownfield redevelopment of a former oil terminal, mixed-use transit-oriented-developments (TOD), acquisition advisory, urban redevelopment master planning, and waterfront developments.

Mr. Hutchinson has held successive positions with the NJTPA, the fifth largest Metropolitan Planning Organization in the United States, The Berger Group, and MTA Metro-North Railroad, the nation’s second largest commuter railroad. His work in planning and business development includes community development surrounding transportation facilities, repurposing of underperforming assets, public-private partnerships, sustainable transportation and construction practices, and infrastructure investment and siting.

Mr. Hutchinson holds advanced degrees in Infrastructure Planning (MIP) and Environmental Policy (MS) from The New Jersey Institute of Technology where he is an adjunct faculty member teaching real estate development and finance and has been a guest critic in theSchool of Architecture since 1997. Additionally, Mr. Hutchinson holds an MBA from the Zicklin School of Business, Baruch College at the City University of New York, is a planner with the American Institute of Certified Planners (AICP) accreditation, a member of the American Planning Association, and has contributed to published work regarding environmental process streamlining, Brownfields utilization, and corridor planning.

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DWH TEAM

ROLAND DAVISMANAGING CONSULTANT

Roland Davis (Ronnie) is an affiliated consultant to DWH Strategic Advisors, LLC, a strategic partner to Cushman & Wakefield.

Based in Atlanta, Georgia, he was a member of C&W’s Global Consulting team. He is responsible for procuring,

executing, and managing a broad range of advisory assignments for large national and multi-national clients

encompassing market analysis, project feasibility, highest and best use analysis, redevelopment strategies, asset

repositioning, market forecasting, and portfolio analysis and benchmarking. Mr. Davis has over 20 years of

experience in diverse commercial real estate environments, with expertise in advisory services, market and feasibility

assessment, investment research and analysis, portfolio management and administration, and capital markets.

Recent project management responsibilities for Mr. Davis include a market feasibility study on a 4,000-acre master

planned community in south Florida; a strategic national roll-out plan for a foreign retailer; a strategic asset plan for a

200-acre surplus industrial site in Atlanta, GA; a mixed-use feasibility study for a downtown Bellevue, WA site; a

redevelopment strategy for a 2,400-acre industrial site in Columbia, SC; and a highest and best use analysis for a 5-

acre tract of land in suburban Tampa, FL. Recent clients include Rockwood Capital, Invensys, Forestar Group, and

Lego.

Prior to joining C&W, Mr. Davis was a Vice President at Lend Lease Real Estate Investments, Inc. where he acted as

assistant portfolio manager for a $1.0 billion portfolio of commercial mortgage-backed securities (CMBS). In this

capacity, he was responsible for due diligence, analysis, acquisition, portfolio management, surveillance, and

disposition of bonds backed by commercial mortgages on office, industrial, retail, hotel, multi-family, and other

income-producing properties located throughout the U.S.

Mr. Davis earned a Master of Science in Real Estate from Georgia State University and BA degrees in Business

Administration and Communications from Washington State University. He is a member of the Board of Directors and

Executive Committee for the Atlanta District Council of the Urban Land Institute (ULI) and recently completed a two-

year term as Co-Chairman for its Technical Assistance Programs (TAP) Committee. Mr. Davis currently serves as a

consultant to ULI, coordinating and directing its Atlanta UrbanPlan program.

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DWH TEAM

WILLIAM J. BRAUN, CRE AFFILIATED CONSULTANT

William Braun is a Principal in W J Braun & Associates, which is an alliance partner of DWH. Prior to establishing his own firm, Bill was Principal Consultant with Cushman & Wakefield’s Development Consulting practice focusing on market positioning of real estatedevelopments and geographic locations. He has extensive experience helping corporate clients to identify the real estate implications inherent in overall business strategies and the potential opportunities for location and real estate to contribute to and enhance the competitive advantage of the client’s core business. For property investors, developers and economic development agencies, Mr. Braun uses this knowledge to profile specific property or location characteristics against the site selection criteria of end users and devises a strategy for attracting companies most likely to benefit by the location choice.

Bill is a graduate of the Wharton School of the University of Pennsylvania, where he received a Master’s Degree as an Earhart Fellow. He received his Bachelor of Science degree in finance, Magna Cum Laude, from St. Joseph's College. He holds a CRE designation from The Counselors of Real Estate, a SLCR (Senior Leader Corporate Real Estate) certification awarded by CoreNet Global and is a Fellow of the Royal Institution of Chartered Surveyors (FRICS). Mr. Braun is a licensed Real Estate Broker in the State of Illinois.

Bill has over 30 years of diversified real estate experience representing some of the nation's largest corporations, financial institutions and service organizations in the areas of consultation services, property acquisitions and dispositions, financing and valuation with a focus on identifying opportunities for achieving improved space utilization, reduced occupancy costs, flexible space delivery and control and optimum capital resource allocation. He also has extensive experience in highest and best use analyses, project feasibility, strategic planning, workforce assessments and evaluating geo-economic issues.

In 2001, Bill led the development of an innovative financing strategy for Whirlpool Corporation, which was awarded an Alexander Hamilton Award for excellence in treasury management. In 2003-2004, he was a team leader and contributing author of CoreNet’s groundbreaking Corporate Real Estate 2010 research project that explored the impact of emerging business trends and drivers on the future of corporate real estate and its role in enabling work in the networked world. In 2008, he was granted a United States Patent for a system and a method for evaluating real estate financial structures for controlling real estate assets by corporations.

DWH

DWH CONTACT INFORMATION

m: 917.518.0711O: 732.270.1900Hutchinson@dwhadvisors.com

m: 973.809.2873O: 973.259.0389Peter.Waldt@dwhadvisors.com

PETER V. WALDTMANAGING PARTNER

ROBERT S. HUTCHINSON, MBA, AICPMANAGING PARTNER