Kenneth Bacon Managing Partner RailField Realty Partners

Formerly head of Multifamily at Fannie Mae, Ken oversaw a $195 billion multifamily portfolio, the largest of its kind in the world which also included a portfolio of tax credit and conventional equity and mezzanine debt of over $6 billion. In this role, he had regular interaction at the highest levels with the largest players in the multifamily industry. Ken is a native of Houston with significant contacts in the local government, business and legal community.

Prior to forming RailField, Mr. Bacon spent 19 years in positions of increasing responsibility at Fannie Mae

culminating with his being the Executive Vice President of the Multifamily Mortgage Business. Immediately prior to running the multifamily mortgage business, Ken headed Fannie Mae’s American Communities Fund, a $200+ milion equity fund that invested in multifamily projects. Before joining Fannie Mae, Ken was Director of the Office of Securitization of the Resolution Trust Corporation and held officer positions on Wall Street at Kidder Peabody and Morgan Stanley. Ken is the Lead Director of the board of Comcast Corporation and a Board Member of Forrest City. He is also on the board of the Corporation for Supportive Housing. He is a member of the Executive Leadership Council and Urban Land Institute. He has an M.B.A. from Harvard Business School, a M. Sci. in International Relations from the London School of Economics where he studied as a Marshall Scholar and a B.A. from Stanford University.

Mark Bates Chief Financial Officer Holland Partner Group

Mark Bates, Chief Financial Officer, is responsible for all aspects of finance and accounting of Holland Partner Group. He also provides leadership regarding the strategic direction and vision of the Company. Mark provides 15 years of experience in real estate finance and accounting. Before joining Holland Partner Group, Mark served as Senior Manager at PricewaterhouseCoopers where he led the operations of various business units within the world’s largest public accounting firm within the real estate sector. His responsibilities within the real estate

group included auditing, consulting, business development, recruiting, developing and retaining talent, driving people initiatives and developing and instructing training curriculum. Mark received a B.A. with a double major in Business Economics and Law & Society from the University of California, Santa Barbara, with honors. Mark is a CFA charterholder and licensed CPA.

Will Beam Vice President, Acquisitions Heitman

Will is a Vice President in Heitman's North American Acquisitions group. He is responsible for analyzing and valuing potential investments in direct equity real estate within the United States. He has been involved with a variety of property types (residential, office, retail, industrial, and student housing properties) and a variety of investment structures (e.g. development joint ventures, investment joint ventures, and 100% free and clear acquisitions). He has been involved in acquisition activity totaling over 21,000 units, 10 million square feet, and $4.4 billion.

Will received a BSBA with a concentration in Finance from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. He is a member of the National Multi Housing Council.

Albert M. Berriz Chief Executive Officer and Co-Managing Member McKinley

Albert M. Berriz is Co-Managing Member, Chief Executive Officer, Board Member and Co-Owner of McKinley, a real estate investment company that owns and operates a $4.6 billion dollar real estate portfolio with 1,600 full time staff members consisting of 35,398 apartment units and over 21.0 million square feet of shopping centers and office buildings located in twenty-seven states nationwide. Mr. Berriz has extensive experience in the acquisition, financing, management and redevelopment of real estate assets. He is responsible for acquiring and managing assets in excess of $7.0 billion during his career. Mr. Berriz holds

an MBA with honors in marketing and finance from the J.L. Kellogg Graduate School of Management, Northwestern University in Evanston, Illinois. He also holds a Bachelor of Architecture Professional degree with high honors from the School of Engineering at the University of Miami. Mr. Berriz began his career in the real estate department of the Continental Illinois National Bank and Trust Co. of Chicago as a Vice President responsible for real estate lending. Mr. Berriz’s wife, Paula, an MBA graduate with high honors from Northwestern University, has spent her life raising two very successful young men, Albert L., a graduate of the University of Michigan and Andrew, a graduate of the Ross School of Business of the University of Michigan. Albert L. is McKinley’s Vice President & Managing Director for Owned Residential Real Estate. Andrew also works for McKinley as Director - Special Projects Group.

Douglas M. Bibby President & CEO National Multifamily Housing Council

Douglas M. Bibby is President of the National Multifamily Housing Council (NMHC), a national organization of 1,000 member firms involved in the multifamily housing industry. Under his leadership NMHC represents the industry on Capitol Hill and before the regulatory agencies, promotes research and the exchange of information, and advocates for rental housing across a broad spectrum of issues. In his 12th year as head of the Council, Bibby has been honored by the publication Multi-Housing News as one of the most influential leaders in the industry through its “Dozen who make a Difference” award in 2003, 2004, 2005, and 2006. Prior to joining NMHC, Bibby spent 16 years as a senior officer of Fannie Mae, where he served

on the company’s Management Committee throughout his tenure. He was part of the top management team that is credited with the remarkable turnaround at Fannie Mae in the book Good to Great. Bibby began his career with the worldwide communications firm J. Walter Thompson where he served a variety of clients both domestically and internationally over his 12-year career with the company. At the time of his departure from J. Walter Thompson, he was Senior Vice President and General Manager of the firm’s Washington, D.C. operations. Bibby has been active in the non-profit community of Washington, D.C. for the past 25 years. He currently sits on four boards of directors. Bibby graduated from Denison University with a B.A. degree and was honored with the university’s Alumni Citation Award in 2004. He also holds a Masters of Business Administration degree from the University of Texas at Austin.

Nickolay N. Bochilo Senior Vice President, Investments Bell Partners

Mr. Bochilo joined Bell Partners in 2001. He currently oversees acquisition, disposition and related financing activities in several of the company's markets. Mr. Bochilo has been involved in transactions valued in excess of $4 billion since joining the company, spanning across apartment, retail and senior housing holdings. He is a member of Urban Land Institute and NMHC's Emerging Leaders Committee. A native of Belarus, Mr. Bochilo came to the U.S. in 1998 through the Future Leaders Exchange scholarship sponsored by the US Department of State. He holds an MBA from the Darden School of Business at the

University of Virginia and a BS degree in Business and Economics from Greensboro College where he graduated with honors.

John Burstein Principal MRP Group John Burstein, age 43, is co-founder and Principal of Mexico Retail Properties Group, (“MRP”). MRP is a fully integrated real estate company that acquires, develops and manages properties throughout Mexico. MRP invests capital and serves as General Partner in four institutional funds with equity from Pensions and Sovereign Investors. Mr. Burstein is also a co-founder and Principal of Infrastructure Institucional, (“I2”), a Mexico City based company focused on infrastructure investments throughout Mexico. Since its formation in 2002, MRP has become one of the largest developers and owners of shopping centers in Mexico. As of December 2013, the company had 150 Mexico City based employees and owned 65 shopping centers. MRP has developed more Wal-Mart anchored centers than all other developers in Latin America combined. In December of 2013, MRP sold 49 of its shopping centers to Fibra Uno, the largest Mexican REIT (Real Estate Investment Trust) for approximately $2 Billion in what was the largest single real estate transaction in the history of Latin America. MRP continues to develop new assets focusing on vertical, urban, mixed use projects in Mexico City. I2 has raised nearly $1 Billion, primarily from Mexican Pension Funds (Afores). The company invests in a broad range of infrastructure projects including toll roads, hospitals, prisons, airports and energy related assets. Mr. Burstein received a Bachelors degree in Economics from Princeton University in 1993 and an MBA from the Stanford Graduate School of Business in 2001.

James A. Butz President, Managing Partner Jefferson Apartment Group

Jim Butz is the President and CEO of Jefferson Apartment Group. Mr. Butz leads our Investment Committee, Executive Committee and Advisory Board. He is responsible for strategic planning and growth of the Company and is involved in all operational and investment decisions. He is also works with our business leaders to focus on our Company goals and values. Prior to forming Jefferson Apartment Group, Mr. Butz was the President and Managing Partner for JPI East, which encompassed real estate operations within the Mid-Atlantic, New England and Southeast United States JPI offices.

Mr. Butz has over 28 years' experience in the real estate development industry focusing primarily on for-rent and for-sale multifamily communities, and has been responsible for the acquisition or development of over 20,000 units. He is a graduate of Southern Methodist University with a BA in Business Administration, Finance and Economics. He is currently on the Executive Committee of the National Multifamily Housing Council and the NAHB Multifamily Leadership Board, a member of ULI and active in a variety of local real estate and charitable organizations. Jim is married and has three children.

Graham Carpenter Managing Director, Acquisitions Pollack Shores Real Estate Group

Pollack Shores Real Estate Group, LLC (PSREG) is a multifamily investment and operating company. The company was founded in 2006 to focus on multifamily investment opportunities in the Southern US. Since its inception, PSREG has invested in, acquired and developed over 9,000 units representing in excess of $1.1B of total capitalization. As Managing Director of Acquisitions at PSREG, Graham Carpenter oversees the firm’s acquisition, asset management and disposition processes for all existing

multifamily assets. He works closely with the firm’s capital partners, attorneys and the internal acquisition, management and accounting teams to drive projects from inception through the execution of each business plan. Since joining PSREG in 2007, Graham has managed the development and acquisition of over 6,500 units including the development of garden-style and midrise projects, the acquisition of value-add and core-plus assets, as well as fractured condos valued at over $700M. Graham was previously Project Manager for S.A. Goodsell Development Company, an Atlanta-based residential land development firm. Graham holds a Master of Real Estate Development degree from the University of Southern California and graduated with honors from the University of Georgia. He is a member of the Urban Land Institute (ULI) and the National Multifamily Housing Council (NMHC).

Daryl J. Carter Founder, Chairman and Chief Executive Officer Avanath Capital Management, LLC

Daryl J. Carter is the Founder, Chairman and CEO of Avanath Capital Management, LLC, a Southern California based investment firm focused on conventional and affordable multifamily investments. Mr. Carter directs the strategy, investments, and overall operations of the firm. Over the past 2 years, Avanath has acquired in excess of $300 million in affordable apartment communities nationwide. Mr. Carter is also a Managing Partner of McKinley-Avanath, a property management company focused on the affordable apartment sector, an entity owned jointly by Avanath and McKinley, Inc. Mr. Carter has 32 years of experience in the commercial real

estate industry. Previously, he was an Executive Managing Director of Centerline Capital Group (“Centerline”) and head of the Commercial Real Estate Group. Mr. Carter became part of the Centerline team when his company, Capri Capital Finance (“CCF”), was acquired by Centerline in 2005. Mr. Carter co-founded and served as Co-Chairman of both CCF and Capri Capital Advisors (“CCA”). He was instrumental in building Capri to a diversified real estate investment firm with $8 billion in real estate equity and debt investments under management. Prior to Capri, Mr. Carter was Regional Vice President at Westinghouse Credit Corporation in Irvine and a Second Vice President at Continental Bank in Chicago. Mr. Carter holds dual Masters Degrees in Architecture and Management, both received from the Massachusetts Institute of Technology. He received a Bachelor of Science degree in Architecture from the University of Michigan. Mr. Carter is a Trustee of the Urban Land Institute, Executive Committee Member and Vice Chairman of the National Multifamily Housing Council, and a Past Chairman of the Commercial Board of Governors of the Mortgage Bankers Association. Mr. Carter serves on the Visiting Committee of the M.I.T. Sloan School of Management. Mr. Carter also serves as an independent director of four companies, Whitestone REIT (NYSE: WSR), Silver Bay Realty Trust Corporation (NYSE: SBY), The Olson Company, and RREEF America III.

Paula M. Cino Vice President, Construction, Development and Land Use Policy National Multifamily Housing Council

Paula M. Cino is Vice President, Construction, Development and Land Use Policy, with primary responsibility for special projects relating to environmental issues of the Joint Legislative Staff.

Before joining NMHC, Paula served as a judicial extern for Chief Judge Ginger Berrigan of the United States District Court-Eastern District of Louisiana, where she wrote opinions of the Court.

Also a former national security investigator, Paula holds a Bachelor of Arts degree in Anthropology and Law and Society from American University. Paula also earned a Juris Doctorate from Tulane School of Law and is a member of the Maryland State Bar.

Peter Donovan Senior Managing Director CBRE

Mr. Donovan, a 34-year veteran of the financial services and multi-housing industries, joined CBRE in November of 2006 and co-leads the CBRE Multi Housing Capital Markets service line as Senior Managing Director of the Multi-Housing Group. In his role, Mr. Donovan oversees our Fannie and FHA debt platforms for CBRE throughout the United States. Mr. Donovan was previously the Chief Executive Officer of Deutsche Bank Berkshire Mortgage, steering that firm to a market-leading position in government-sponsored multi-family loans. Under Mr. Donovan, Deutsche Bank Berkshire Mortgage’s servicing

portfolio totaled more than $18 billion - virtually all of it in Fannie Mae, Freddie Mac, FHA and affordable housing loans - and the firm originated more than $4 billion in loans annually. Prior to that he was Chairman and Chief Executive Officer of Berkshire Mortgage Finance, a role in which he directed the production, servicing and asset-management activities of the firm. Mr. Donovan is past Chairman for the National Multi-Housing Council and is a member of the Urban Land Institute. He is past Chairman of the Fannie Mae Advisory Council, as well as a recipient of the Fannie Mae Larry Dale Lifetime Achievement Award. He is also a past member of the Commercial Board of Governors of the Mortgage Bankers Association. Mr. Donovan has a Bachelor of Arts in History from Trinity College and a Master’s in Business Administration from Northwestern University. Professional Affiliations/Accreditations

• Past Chairman, National Multi-Housing Council • Past Chairman of the Fannie Mae Advisory Council • The Urban Land Institute (ULI) – Multi-Housing • Mortgage Bankers Association

Education

• Northwestern University; Kellogg School of Management, Master of Business Administration

• Trinity College, Bachelor of Arts

Ken Dychtwald, PH.D. Futurist, Best-Selling Author, Psychologist, and Gerontologist

Over the past 35+ years, Dr. Ken Dychtwald has emerged as North America’s foremost visionary and original thinker regarding the lifestyle, marketing, healthcare and workforce implications of the age wave. He is a psychologist, gerontologist, documentary filmmaker, entrepreneur and best-selling author of sixteen books on aging-related issues, including Bodymind, Age Wave: The Challenges and Opportunities of an Aging Society, Age Power: How the 21st Century Will be Ruled by the New Old, The Power Years: A User’s Guide to the Rest of Your Life, Workforce Crisis: How to Beat the Coming Shortage of

Skills and Talent and a children’s book, Gideon’s Dream: A Tale of New Beginnings. His most recent book is A New Purpose: Redefining Money, Family, Work, Retirement and Success. In 2007, he had his debut as a documentary filmmaker and host with the highly rated/acclaimed PBS special The Boomer Century: 1946-2046. Ken Dychtwald has served as a fellow of the World Economic Forum and is a two-time recipient of the distinguished American Society on Aging Award for outstanding national leadership in the field of aging. American Demographics Magazine honored him as the single most influential marketer to boomers over the past quarter century. His article in The Harvard Business Review, “It’s Time to Retire Retirement,” was awarded the prestigious McKinsey Award, tying for first place with the legendary Peter Drucker. In 1986, Ken became the founding President and CEO of Age Wave, a firm created to guide Fortune 500 companies and government groups in product/service development for boomers and mature adults. His explorations and innovative solutions have fertilized and catalyzed a broad spectrum of industry sectors— from vitamins and cookies to automotive design and retail merchandising to mutual funds and health insurance. Dr. Dychtwald has addressed more than two million people worldwide in speeches to corporate, association, social service and government groups. His strikingly accurate predictions and innovative ideas are regularly featured in leading print and electronic media worldwide, including: The New York Times, The Wall Street Journal, USA Today, Financial Times, Fortune, Time, Newsweek, BusinessWeek, U.S. News and World Report, The Economist, HK Daily News, South China Morning Post, The Standard, 60 Minutes, Good Morning America, ABC World News Tonight, Today Show, PBS, NPR, Huffington Post, and BBC. Through highly acclaimed presentations, breakthrough research and consulting initiatives, and his leadership within both the social science and business communities, Ken Dychtwald has dedicated his life to battling ageist stereotypes while promoting a new, vital and meaningful role for life’s second half.

Kenny Emson Senior Vice President of Finance and Administration National Multifamily Housing Council

Kenny Emson is Senior Vice President of Finance and Administration, with principal responsibility for NMHC’s internal operations and finance functions including accounting, NMHC meetings, membership, human resources, information systems, and office management.

Prior to joining NMHC, Kenny served as Chief Development Officer, Senior Vice President and Chief Financial Officer for The Community Foundation for the National Capital Region, a philanthropic nonprofit that pools $350 million in charitable donations to make grants

that benefit both Washington-area and national charities. During his time there, Kenny helped the foundation grow from $50 million in assets to $350 million and saw the staff grow from 10 to 26.

Kenny is a Certified Public Accountant (CPA) and holds a Bachelor’s degree in Accounting from The George Washington University.

Christopher C. Finlay CEO/Managing Principal Middleburg Capital

Chris is the founder and Managing Principal of Middleburg Capital, and has a long and distinguished career in the commercial real estate industry. He is a widely published and requested speaker on commercial real estate topics, having been featured on CNBC’s Squawk Box, and in the Wall Street Journal, as well as being quoted and interviewed for numerous other publications including Barron’s, National Real Estate Investor, Multifamily Executive, Real Estate Forum, and GlobeSt.com.

Chris is also the founder and Chief Executive Officer of the Mission Residential group of companies, a national apartment owner. Founded in 2004, the company at its peak owned approximately 13,000 apartment units with a total acquisition cost of approximately $1 billion. Chris built Mission Residential from the ground up, to be a fully integrated company with over 300 employees, state of the art property management, leading market research, construction, asset management, and acquisitions capabilities.

Chris’s prior experience includes founding Forward Capital, which revolutionized commercial real estate finance through its research-based approach to credit risk pricing and arbitrage, and acquired equity interests in over 90 properties nationwide. Prior to Forward Capital, Chris was employed at First Union Securities in the Real Estate Capital Markets Group where he executed over $2 billion in principal underwritings and private placements for institutional real estate clients, particularly REITs and opportunity funds. Chris began his career at KPMG Peat Marwick, LLP in its Structured Finance Group.

Chris is the founder and President of Shelters to Shutters, a non-profit organization serving the homeless community, as well as the past Chairman of Rural Conservation Partners, L.P., which owns, conserves, and improves native stream corridors in threatened areas of the Mid-Atlantic States. Mr. Finlay is also a member of the Board of Directors for the National Multi Housing Council.

Chris served seven years in the United States Marine Corps and graduated with Honors from the South Carolina Honors College at the University of South Carolina.

John Gray Director of Investments Lennar Multifamily Communities

Mr. Gray is the Director of Investments for Lennar Multifamily Communities. Focused on raising capital and the acquisition/disposition of apartment properties, John is involved primarily with new development. Since LMC was founded in June, 2011; the firm has closed into joint ventures to develop over 7,000 apartment units at a capitalization of approximately $1.7 billion across the US. Prior to Lennar, Mr. Gray was at Crescent Resources where was involved in the development and capitalization of apartment properties. Transactions included ground up

development, land acquisitions, capital raising and property recapitalizations for Crescent Resources multifamily portfolio. Prior to Crescent Resources, John was with Grandbridge Real Estate Capital, BB&T's wholly owned real estate intermediary. At Grandbridge, John was responsible for modeling, investment packaging and due diligence for debt and equity transactions. At Grandbridge, John was involved in raising over $500 million of capital for office, retail, industrial, multifamily, hotel and specialty property owners/acquirers. John is a graduate of the University of North Carolina at Chapel Hill with a degree in economics. He is a member of NMHC and ULI.

Mark Hafner Senior Managing Director Greystar Real Estate Partners, LLC

Mr. Hafner is responsible for leading Greystar’s multifamily acquisitions, dispositions and portfolio management for the Eastern U.S. During his tenure with Greystar, Mr. Hafner has led the acquisition of over $2.5 Billion of multifamily properties.

Greystar is a fully integrated company offering expertise in multifamily management, development and investment throughout the United States. Headquartered in Charleston, S.C., Greystar has invested over $3.5 billion in multifamily investments since its inception and currently

manages over 200,000 units with a team of over 5,000 employees.

Prior to joining Greystar in 2004, Mr. Hafner worked with Merck & Co. and Clear Channel Communications. Mr. Hafner is a graduate of The State University of New York at Oswego (B.A.), and Harvard Business School (M.B.A.). He is an active member of the Pension Real Estate Association and National Multifamily Housing Council.

Jonathan Holtzman Chairman/CEO Village Green

Mr. Holtzman has a significant background and expertise in luxury apartment development, construction, management, finance and ownership throughout the Midwest. He represents the third generation of a family business founded by his grandfather, Joseph Holtzman, who started the company in 1919 as Joseph Holtzman Homes. From its original founding through 1993, the companies were known as Holtzman & Silverman Companies and Village Green Management Company which built and sold over 25,000 homes and developed and purchased over 15,000 apartments. Today, Mr. Holtzman is the Chairman of the Board and CEO of Village

Green Holding, which has grown during his tenure to a company that owns and/or manages approximately 45,000 apartments valued at over $4.5 billion by 1,500 professional associates.

Jonathan entered the family business in 1978 and through the mid-1980’s, Jonathan significantly contributed to the growth of the apartment business: increased from 2,500 apartments in Michigan, expanded the ownership and management to 10,000 apartments including institutional clients and high net worth individuals throughout the Midwest. Then, beginning in the mid-1980’s to mid-1990’s, as Co-Chairman for Holtzman & Silverman, Jonathan was instrumental in developing and acquiring an additional 15,000 apartments. From the mid-1990’s through 2011, Village Green Companies to the present Village Green Holding has $400 million of urban luxury apartments under construction, acquisition and development throughout major Midwest cities.

Village Green established four distinct apartment brands (Village Green, Village Park, Regents Park and City), which include urban, suburban, garden, mid-rise, high-rise and the adaptive reuse of historic buildings. In December 2011, Village Green Holding bought out its previous 50% operating partners and then partnered with Compatriot Capital, a division of Sammons, one of the largest private companies in the United States. Village Green consists of five main operating companies: Village Green Management, Village Green Development, Village Green Construction, Village Green Communications and V-Suites furnished rentals. Village Green has offices in Chicago, Cincinnati, Detroit, Dallas, Indianapolis, Minneapolis, St. Louis and Toronto.

Village Green has consistently been recognized for providing outstanding customer service receiving the CEL & Associates national award for customer service in 2009, 2010, 2011 and 2012. In addition, in 2012, Multi-Housing News selected Village Green as Development Company of the Year and NAHB selected Village Green as a finalist for Property Management Company of the Year in 2013.

Mark Humphreys, AIA, NCARB CEO Humphreys & Partners Architects, L.P.

Mark Humphreys is the CEO of the largest multifamily and student housing architecture firm in the U.S., designing approximately 12-15% of the U.S. apartment market, which equated to about 40,000 units in 2013. The firm has 6 offices from coast to coast (including Dallas, Orlando, Newport Beach, San Ramon, New Orleans, and Scottsdale), and has done work in all but two states. Additionally, their office never closes with 5 international offices working while the U.S. sleeps. Mark’s firm is sought after for projects across the U.S., due to their in-depth knowledge of trends and demographics nationally.

His firm has developed “The Big House”®, e-Urban®, and the ground-breaking e-Max® for apartments, and the Home-Rise® for high-rise residential.

He regularly represents his firm’s work at seminars and panels for NAHB;s International Builder’s Show, Multifamily Executive Conference, Urban Land Institute and regional conferences. He is a member of NAHB’s Multifamily Leadership Board and Multi-Housing Council, National Multifamily Housing Council, Urban Land Institute, DCFR (Dallas Committee on Foreign Relations), and the American Institute of Architects.

Robert Jeans Vice President of Asset Management Prudential Real Estate Investors

Robert Jeans is a member of the PRISA III Asset Management team. He is responsible for PRISA III's multifamily and retail investment activity.

Robert has been an asset manager on the PRISA III team since inception, working across almost all asset classes including, apartment, retail, office, and self storage with value in excess of $3.0 billion. More recently he has been focusing on PRISA III’s $1.0 billion apartment development pipeline. Prior to his role on PRISA III, he was responsible for asset management on Prudential’s

Virginia Retirement System Single Client Account specializing in office and apartment investments. Robert joined PREI in March of 1999 in the Research Group where he was responsible for providing third party review of all new transactions and providing unbiased summary of findings to be presented at Investment Committee.

He is an active member of National Multi Housing Council (NMHC) and International Council of Shopping Centers (ICSC).

Robert graduated from The University of South Carolina with a Bachelors Degree in Business Administration, concentrating in Finance and Real Estate.

Mary Ann King President Moran & Company

Mary Ann King is President of Moran & Company, a national brokerage firm that focuses all of its energies on multifamily assets and mixed-use assets with significant multifamily components. Mary Ann received a BA in Urban Studies in 1975 from Middlebury College in Middlebury, Vermont. She received a Masters Degree in City and Regional Planning with a specialization in Housing Development from Harvard University in Cambridge, Massachusetts in 1977 and a Masters of Management (MBA) with a major in Finance

from Northwestern University in Evanston, Illinois in 1981. From 1977-1983, she worked in the Real Estate Department of Continental Bank. She was made an officer in 1979, an AVP in 1981 and a VP in 1983. From 1982-1983, she had responsibility for managing a team of lenders involved in underwriting condominium conversion loans nationwide. In 1983, Mary Ann joined Moran & Company in Chicago as its Vice President of Acquisitions and Finance. From 1983-1993, she was responsible for identifying and financing joint venture development opportunities for Moran & Company’s investor clientele. In 1994, in response to demand from Moran & Company’s institutional clientele, Ms. King, became licensed as a broker and sold the first property ever listed by Moran & Company’s newly formed brokerage division. Since that time, Mary Ann has been responsible for some 45% of the $20 billion in apartment transactions handled by her company. Mary Ann was instrumental in managing the underwriting and developing the collateral materials that has given Moran & Company its unsurpassed reputation in the sale of institutional quality apartment properties nationwide. Mary Ann is a member of the Executive Committee for the National Multi Housing Council and was the Chairman of that organization from 2006 – 2007. She has served as part of the leadership team for this trade association since January of 2000. Mary Ann is a full member of ULI and currently serves as a ULI Trustee and the Product Council Counselor for all four Multifamily Product Councils. Mary Ann is on the Board for Over the Rainbow, an Illinois not-for-profit that develops affordable housing solutions for individuals who depend on a wheelchair for mobility. Mary Ann is also a licensed broker in the states of California, Georgia, Massachusetts, Oregon, and Washington.

Christopher Leinberger Senior Fellow, Brookings Institution Charles Bendit Distinguished Scholar, George Washington University

Chris Leinberger is a land use strategist, professor, developer, researcher and author, balancing business realities with social and environmental concerns. Mr. Leinberger is: • President of Locus; Responsible Real Estate Developers

and Investors • The Charles Bendit Distinguished Scholar and Research

Professor, George Washington University School of Business

• Nonresident Senior Fellow at Brookings Institution in Washington DC

• Founding Partner of Arcadia Land Company, a New Urbanism and transit oriented development firm

His most recent book is The Option of Urbanism, Investing in a New American Dream. He is the author of Strategic Planning for Real Estate Companies and has contributed chapters to 12 other books. He is an Op-Ed Contributor to the The New York Times, writes regularly for The Atlantic Monthly and numerous other magazines. CNN, National Public Radio, Atlantic Cities Channel, Washington Post, among others, have profiled him. Leinberger was voted one of the “Top 100 Urban Thinkers” in a 2009 poll conducted by Planetizen, the international urban planning website. He was the 2010 William H. Whyte Urbanism Award winner by Partners for Livable Communities. Leinberger is a graduate of Swarthmore College and the Harvard Business School and lives in Dupont Circle in Washington, DC.

W. Seth Martin President Pritzker Realty Group, L.L.C.

Mr. Martin has been associated with Pritzker Realty Group, L.L.C., an investment vehicle founded by Penny Pritzker, since 2009 and is responsible for defining the firm’s real estate investment strategy as well as sourcing new business opportunities. PRG is a value-added investor targeting a broad range of direct equity and debt investments in real estate assets, portfolios, and joint ventures throughout the United States. Since 1991 Pritzker has overseen real estate assets including apartment buildings, office and industrial developments, parking lots, and senior living facilities across the U.S. with a combined value of $5 billion.

Prior to joining Pritzker Realty in 2009, Mr. Martin was the founder of Martin Capital Group, the investment affiliate of First Martin Corporation, an Ann Arbor based development firm. From 1999 to 2003, he was a Vice President and investment professional at AREA Property Partners (formerly Apollo Real Estate Advisors L.P.) While at AREA, Mr. Martin focused the majority of his efforts on investments in Europe and completed over three billion dollars worth of transactions in seven different countries. From 1997 to 1999, Mr. Martin was a member of the Real Estate Investment Banking Department at J.P. Morgan and prior to that an associate with Hines Interests Limited Partnership, a leading international real estate development company. Mr. Martin graduated from Vanderbilt University with a BS in Modern European Studies and is a member of the Economic Club of Chicago.

Gina Metrakas Director of Urban Revitalization Rock Ventures, LLC

Gina Metrakas is the Director of Urban Revitalization for Rock Ventures LLC, the umbrella entity formed to provide strategic coordination across Dan Gilbert’s real estate development and investment portfolio. Ms. Metrakas focuses on Rock Ventures’ efforts to spark development and revitalization in Detroit, including through the company’s role in key civic initiatives like the Detroit Blight Task Force. Her principal responsibility is to align efforts and build

effective programs with key public and private stakeholders to support city-wide housing and economic development. Prior to joining Rock Ventures in October 2014, Ms. Metrakas held joint positions as Senior Advisor on the White House Detroit Task Force and Senior Advisor at the U.S. Department of Housing and Urban Development in Washington, DC. In this role, she worked with the White House, HUD and over 19 Federal Agencies to coordinate and implement Administration’s effort to support Detroit’s recovery. This included identifying available federal resources and coordinating with the Mayor’s office and stakeholders on priorities including blight and housing recovery; public safety; infrastructure; education and workforce development; economic development; and building municipal capacity. Before these special assignments, Ms. Metrakas served in various senior capacities at HUD, which she joined in 2004. She worked in HUD’s Office of the General Counsel on assisted housing programs and in the Office of Field Operations, where she worked with HUD staff in 46 offices across the country responsible for overseeing over 4,000 Public Housing Authorities. Ms. Metrakas is a graduate of Villanova University and Catholic University Columbus School of Law. She is a member of the Massachusetts bar.

Alan Mulally Former President & CEO Ford Motor Company

Alan Mulally served as president and chief executive officer of Ford Motor Company and was a member of the company’s Board of Directors from September 2006 to June 2014. Mulally joined Ford in September 2006 and led Ford’s transformation into one of the world’s leading automakers. He guided the Ford team in working together on a compelling vision, comprehensive strategy and relentless implementation of the One Ford plan to drive profitable growth for all the company’s stakeholders.

The One Ford plan focuses on serving customers in all markets with a full family of vehicles – small, medium and large; cars, utilities and trucks – with leading quality, fuel efficiency, safety, smart design and value. Prior to joining Ford, Mulally served as executive vice president of The Boeing Company and president and chief executive officer of Boeing Commercial Airplanes. In that role, he was responsible for all of the company’s commercial airplane programs and related services. Mulally was named Boeing’s president of Commercial Airplanes in September 1998. The responsibility of chief executive officer for the business unit was added in March 2001. Previously, Mulally served as president of Boeing Information, Space & Defense Systems and senior vice president of The Boeing Company. Appointed to that role in February 1997, he was responsible for Boeing’s defense, space and government business. Beginning in 1994, Mulally was senior vice president of Airplane Development for Boeing Commercial Airplanes Group, responsible for all airplane development activities, flight test operations, certification and government technical liaison. Earlier, Mulally served as Boeing’s vice president of Engineering, and as vice president and general manager of the 777 program. Mulally joined Boeing in 1969 and progressed through a number of significant engineering and program-management assignments, including contributions on the 727, 737, 747, 757, 767, 777 and 787 airplanes. Throughout his career, Mulally has been recognized for his contributions and industry leadership, including being named No. 3 on Fortune’s “World’s Greatest Leaders” list, one of the 30 “World’s Best CEOs” by Barron’s magazine, “Industry Leader of the Year” by Automotive News magazine, one of “The World’s Most Influential People” by TIME magazine, “Chief Executive of the Year” by Chief Executive magazine, “Man of the Year” in the automotive sector by El Mundo

and “Person of the Year” by Aviation Week magazine. He has also been honored with the American Society for Quality’s Joseph M. Juran Medal for excellence in executive leadership for Quality, the Automotive Executive of the Year Award, the Edison Achievement Award and induction into the Kansas Business Hall of Fame. Mulally served on the President’s Export Council, which was formed in 2010 to advise U.S. President Barack Obama on export enhancement and ways to encourage companies to increase exports and enter new markets. He previously served as co-chairman of the Washington Competitiveness Council, and sat on the advisory boards of NASA, the University of Washington, the University of Kansas, Massachusetts Institute of Technology and the U.S. Air Force Scientific Advisory Board. He is a member of the United States National Academy of Engineering and a fellow of England’s Royal Academy of Engineering. He also served as a past president of the American Institute of Aeronautics and Astronautics (AIAA) and is a former president of its Foundation. Additionally, Mulally served as a past chairman of the Board of Governors of the Aerospace Industries Association. Mulally holds Bachelor and Master of Science degrees in aeronautical and astronautical engineering from the University of Kansas, and earned a master’s in management from the Massachusetts Institute of Technology as a 1982 Alfred P. Sloan fellow. A native of Kansas, Mulally is a private pilot and enjoys tennis, golf and reading.

David Neithercut President & Chief Executive Officer Equity Residential

Mr. Neithercut is the President and Chief Executive Officer (CEO) and a Trustee of Equity Residential. He assumed the CEO title on January 1, 2006 and has served as President since May of 2005. From January 2004 to May 26, 2005 he served as Executive Vice President of Corporate Strategy, leading the company's Transactions, Portfolio Management, Development, Condominium and Research groups. From 1995 until August 2004, he served as Equity Residential’s Chief Financial Officer. In this role he was

responsible for all of the company’s capital market activities and participated in debt and equity offerings as well as merger and acquisition activity with a combined value in excess of $10 billion. Prior to joining Equity Residential, Mr. Neithercut was Senior Vice President of Finance for Equity Group Investments. Prior to joining Equity Group, Mr. Neithercut held positions with the Commercial Mortgage Banking division of Draper & Kramer, Inc. and the real estate department of Continental Bank, N.A. Mr. Neithercut is a member of the Board of Directors of General Growth Properties (NYSE: GGP), a leading owner and operator of shopping malls, a member of the Executive Committee of the National Multi Housing Council, a member of the Urban Land Institute and a member of the Executive Committee of the National Association of Real Estate Investment Trusts. Mr. Neithercut holds a B.A. from St. Lawrence University and an M.B.A. from the Columbia University Graduate School of Business.

Richard D. Parsons Senior Advisor Providence Equity Partners, Inc.

Richard D. Parsons is a senior advisor at Providence Equity Partners, Inc., a leading private equity investment firm specializing in media, communications, and information companies. He is the former Chairman of the Board of Citigroup, Inc. Prior to serving in those roles, he was the Chairman of the Board and CEO of Time Warner, Inc., the world’s largest media and entertainment company, from 2002 to 2008. In its January 2005 report on America’s Best CEOs, Institutional Investor magazine named Parsons the top CEO in the entertainment industry.

Before joining Time Warner in 1995, Parsons was Chairman and CEO of Dime Bancorp, Inc., one of the largest thrift institutions in the United States. Previously, he was the managing partner of the New York law firm Patterson, Belknap, Webb & Tyler. Prior to that, he held various positions in state and federal government, as counsel for Nelson Rockefeller and as senior White House aide under President Gerald Ford. Parsons received his undergraduate education at the University of Hawaii and his legal training at Union University’s Albany Law School. In 2008, Parsons served as a member of then President-Elect Barack Obama’s Economic Transition Team. His other civic and nonprofit commitments include Chairman Emeritus of the Partnership for New York City; Chairman of the Apollo Theatre Foundation and of the Jazz Foundation of America; and service on the boards of the Museum of Modern Art and the American Museum of Natural History. Most recently, Governor Andrew Cuomo of New York named Parsons to head the Education Reform Commission, where he will be tasked with evaluating “anything and everything” to improve student importance. Parsons is also a member of the boards of The Estee Lauder Companies, Inc., and Madison Square Garden, Inc.

Mark Tennison Executive Vice President, Development Equity Residential

Mark Tennison is responsible for all multifamily development operations for Equity Residential (EQR) with over $3B of new developments completed during his tenure. Prior to EQR, he was COO for Pritzker Residential where he established a multifamily company for the Pritzker family, developing 5,000 units in Washington D.C. and Florida. Previous experiences included Archstone-Smith and Trammell Crow Residential. Mark has degrees in Law, Architectural Engineering and Environmental Design. Mark is on the Executive Committee for the National Multi Housing Council, an active member of the Urban Land

Institute, and serves on the Multifamily Board for the National Association of Home Builders. Mark is a board member of Over the Rainbow, an Illinois based not-for-profit that provides independent living solutions for adults with physical disabilities and is also an active pilot for Angel Flight Central.

James E. Thomas Partner Cityscape Residential, LLC

James E. Thomas, founder and managing partner of Cityscape Residential, and partner in Hearthview Residential and C.E. Reeve Roofing, brings a strong background in all facets of design, real estate development and construction.

He has previously served as Executive Vice President of AMLI Residential Properties Trust, a NYSE-listed Real Estate Investment Trust, where he oversaw development and construction for the area from Colorado to Indiana. Prior to AMLI, Mr. Thomas was a partner at Trammell

Crow Residential, also responsible for development and construction oversight throughout the lower Midwest. Prior to his association with TCR, Mr. Thomas was with the Kirkland Group and owned a consulting firm in Boston, MA and worked for an architectural firm in Kansas City, MO.

Mr. Thomas received a B.S. and an M. Arch from the School of Architecture and Planning from the Massachusetts Institute of Technology and an M.S. in Real Estate Development from M.I.T’s Center for Real Estate Development.

Currently, Mr. Thomas resides in Carmel, serving as an Executive Board member for Boy Scouting in central Indiana as well as the Governance Chairman of the Executive Committee for the Urban Land Institute of Indiana.

Bob Weston Chief Financial Officer Alliance Residential Company

Bob Weston is the Chief Financial Officer, leading capital markets strategy related to the firm’s investments. Additionally, he oversees the company’s financial administration and risk management activities. Prior to assuming the CFO position, Mr. Weston was the Managing Director of the Southeast Division for Alliance, where he was responsible for sourcing and executing new development opportunities in Georgia, Tennessee and the Carolinas. Prior to Alliance, he held various roles within the real estate group at SunTrust Bank, most recently serving

as senior credit officer for the special assets division in Georgia and Tennessee. Mr. Weston received a Bachelor of Arts degree from Washington & Lee University and a Masters of Business Administration from Emory University, where he graduated with honors.