Real Estate Executive Council

2007 Fall Chairman’s Forum

Four Seasons Hotel Real Estate Executive Council 2007 Fall Chairman’s Forum September 27-29, 2007

FOUR SEASONS HOTEL ATLANTA 75 14th Street, Atlanta, GA 30309 (404) 881-9898

Thursday, September 27, 2007

2:00 – 5:00PM REEC BOARD MEETING (Board Members Only) Four Seasons Hotel Atlanta (Boardroom)

6:30 – 7:30PM COCKTAIL RECEPTION followed by 7:30 – 9:30PM DINNER (REEC Members and Invited Guests) Trois Restaurant 1180 , Atlanta, GA 30309, (404) 815-3337

Friday, September 28, 2007

7:30 – 8:30AM BREAKFAST Four Seasons Hotel Atlanta (Ballroom I)

8:30 – 8:45AM REEC HOSTS & CHAIRMAN’S WELCOME • Michael E. Tabb, Managing Principal, Red Rock Global, LLC and GVA Advantis Advisors, LLC • Aasia Mustakeem, Partner, Powell Goldstein LLP • H. Jerome Russell, President, Russell New Urban Development, LLC • Quintin E. Primo III, Chairman & CEO, Capri Capital Partners, LLC

8:45 – 9:30AM 5-YEAR ECONOMIC & REAL ESTATE OUTLOOK • Khalid Rashid, Columbia Business School, REEC Chairman’s Fellow 9:30-11:30AM REEC MEMBERS OPEN DISCUSSION • Moderator: Kenneth A. McIntyre, Jr., Managing Director, MetLife

11:30AM – 12:00PM BREAK

12:00 – 1:30PM LUNCH Four Seasons Hotel Atlanta (Ballroom III)

1:30 – 2:00PM BREAK

2:00 – 3:00PM ATLANTA MARKET PRESENTATIONS Four Season Hotel Atlanta (Ballroom I) • Moderator: Kenneth A. McIntyre, Jr., Managing Director, MetLife • Preston D. Pinkett III, Vice President, Prudential’s Social Investment Program • Master Plan for F. McPherson: Herman Howard, Vice President, The HOK Planning Group • & Civil Rights Museum: A.J. Robinson, President, Central Atlanta Progress • Midtown & Downtown Atlanta: H. Jerome Russell, President, Russell New Urban Development, LLC

3:30PM REEC CHAIRMAN’S CLOSING REMARKS • Quintin E. Primo III, Chairman & CEO, Capri Capital Partners, LLC

Saturday, September 29, 2007

2:30PM REEC FOOTBALL RECEPTION (REEC Members and Invited Guests) Dome, One Georgia Dome Drive, Suite A-16, Atlanta, GA 3013

3:00PM BACAFC ATLANTA FOOTBALL CLASSIC (KICKOFF) Speakers and Panelists Biographies

Herman Howard Vice President The HOK Planning Group

Herman Howard has 16 years of varied design experience that includes government, collegiate, and residential proj- ects and brings to The HOK Planning Group significant design experience from his past association with Pei Cobb Freed & Partners formerly known as I.M. Pei & Partners and Kohn Pedersen Fox of New York. He is a member of the National Organization of Minority Architects and is active in civic affairs. In addition to his duties as an Archi- tectural Designer for the firm, he is also involved in Urban Design / Urban Planning for the firm as well. Mr. Howard has experience performing many roles on a variety of project types including religious facilities, healthcare, librar- ies, corporate, industrial and residential facilities. He also is on the faculty of Design Studio at Georgia Institute of Technology School of Architecture.

Preston D. Pinkett III Vice President Prudential’s Social Investment Program

Preston D. Pinkett III was recently named Vice President and Head of Prudential’s Social Investment Program, which makes investments in the areas of Affordable Housing, Economic Development, Minority Entrepreneurship and Education. With a willingness to take informed risks, Prudential’s Social Investments targets investments that provide the greatest social impact for individuals and communities in those locations where Prudential has its most significant business presence in the US and overseas. The Social Investment Program originates investments for the Prudential Insurance Company of America and the Prudential Foundation. With a portfolio of approximately $500 million and annual authorizations in excess of $50 million, Prudential has investments that benefit companies and organizations in more than 600 cities in over 45 states.

Prior to Prudential Mr. Pinkett was the Senior Vice President for the New Jersey Economic Development Authority (EDA). In this position, he oversees all EDA divisions that manage the funding and development programs to spur economic development in New Jersey, including: Real Estate Development, Community Development, Business, Bond and Technology Financing.

Mr. Pinkett joined the EDA in September 2003 after serving for nearly eight years as a Senior Vice President for PNC Bank. There he formed and managed PNC’s Development Bank and was responsible for all community devel- opment investment and lending activities made through the bank’s six state market including direct management of 25 branches in urban communities throughout New Jersey and Pennsylvania.

Prior to joining PNC Bank, Mr. Pinkett was a Senior Vice President for Chemical Bank New Jersey between Sep- tember 1989 and October 1995, managing business units statewide that were focused on community and economic development, government banking, government relations and regulatory compliance.

He received a B.S. degree with a major in economics from Cornell and an M.B.A. degree from the Wharton School at the University of Pennsylvania.

Mr. Pinkett serves as Treasurer of the Geraldine R. Dodge Foundation, Children’s Futures, and University Ventures. He is also a Board member of Montclair State University, the Montclair State University Foundation, and the Na- tional Housing Institute. Khalid Rashid REEC Chairman’s Fellow Columbia Business School

Khalid Rashid is a second year MBA candidate at Columbia Business School (CBS). He is originally from Cali- fornia and has a B.A. in Economics from University of California, Berkeley. After receiving his undergraduate degree, he moved to New York to work as an Investment Banking Analyst in the Financial Institutions Group at Morgan Stanley. Following his investment banking experience, Khalid transitioned to Upper Manhattan Empower- ment Zone (UMEZ) where he found his passion for real estate. To further pursue his passion, Khalid completed a pre-MBA summer internship at ING Clarion Partners. Last summer, Khalid interned in the commercial real estate development group at Forest City Ratner Companies. He is (i) a Robert A. Toigo Foundation Fellow, (ii) Vice Presi- dent for both the Real Estate Association and Black Business Student Association at CBS and (iii) a member of the Urban Land Institute’s Young Leaders Group mentor program. Khalid enjoys black & white photography, distance running and golf.

A. J. Robinson President Central Atlanta Progress (CAP)

A.J. Robinson is President of Central Atlanta Progress (CAP) and the Atlanta Downtown Improvement District (ADID). CAP, a private business association started in 1941, remains one of the most effective advocacy organiza- tions in the city. CAP has created and spun off a number of organizations such as Trees Atlanta, Research Atlanta, COPA, Inc. and the Midtown Alliance. In 1995, CAP created the ADID and the Ambassador Force® of downtown to address public safety and cleaning concerns.

In his role, he manages the overall strategic functions of the organizations which are designed to make the Down- town Atlanta community more livable, vital and diverse. Key initiatives focus on economic development, planning, public safety, sidewalk environment, transportation, events and overall marketing of Downtown Atlanta. CAP is funded through membership dues and grants from many of Atlanta’s major corporations, as well as organizations and foundations committed to the development of downtown.

The former President of Portman Holdings, he was responsible for all activities of this multi-dimensional real estate company with offices in Atlanta, Charlotte, Shanghai and Warsaw. During his 22-year career with Portman, he man- aged all aspects of real estate development process, including identification of new opportunities, securing financ- ing, design, construction, marketing, acquisition, property management, and asset management. Various projects included property and asset management of SunTrust Plaza, a $400 million multi-use urban development in the heart of downtown Atlanta. Other assets included the AmericasMart, Atlanta Decorative Arts Center, Westin Charlotte, Westin Warsaw and Shanghai Centre.

He had primary responsibility for development of Shanghai Centre, a $200 million multi-use facility in downtown Shanghai, when completed in 1990 was one of the largest foreign investment projects in the People’s Republic of China (PRC). In his 22-year career with Portman, he worked on projects in China, Japan, Taiwan, Singapore, Thai- land, Indonesia, Egypt, Israel, Austria, Brazil, India, Poland, Russia, Hong Kong, South Africa, the United Kingdom and most major US cities.

From June 1980 to January 1981, he participated in the U.S. Department of Commerce’s historic creation of China’s first business school under the protocol signed by President Jimmy Carter and the Chinese Department of Education. During that time, he researched, wrote and taught case studies in Dalian, China, and traveled extensively throughout the Chinese cities.

A 1980 graduate of Harvard School of Business, he received a Master’s Degree in Business Administration. With high distinction, he received his Bachelor’s Degree in Business Administration in June 1977 from . A native of Knoxville, Tennessee, he is married to Dr. Nicole Ellerine, a pediatrician, and they reside in Atlanta with their three children.

He has traveled extensively in the U.S. and internationally. His special interests include American history, poli- tics and sports. He was chosen as one of ten Outstanding Young Atlantans in 1986, was a member of the 1991-92 Leadership Atlanta Class, and has published articles in The Wall Street Journal, Asian Wall Street Journal, Harvard Business Review, Atlanta Journal-Constitution, The Atlanta Business Chronicle and National Real Estate Investor. His other recognition includes being chosen four years in a row as one of the 100 Most Influential Georgians by Georgia Trend Magazine, one of Atlanta’s Top 40 Power Players by Atlanta Magazine and one of the Most Influen- tial Atlantans by the Atlanta Business Chronicle.

His business and civic interest include the following positions: Board of Directors, America’sMart, Inc, American Israel Chamber of Commerce and Industry, Inc. Southeast Region, Atlanta Neighborhood Development Partnership, Atlanta Convention & Visitors Bureau, B’nai B’rith Youth Organization, Greenfield Hebrew Academy, Metro At- lanta Chamber of Commerce, Regional Business Coalition, The Breman Heritage Museum; Trustee, Marcus Jewish Community Center; Advisory Board, Novare Group, Inc.

H. Jerome Russell President Russell New Urban Development, LLC

Jerome Russell is the President of H. J. Russell & Company and Russell New Urban Development, a division of H.J. Russell & Company. He has been involved in the construction and development business for over 25 years. By growing up in the family business Jerome learned the importance of hard work, integrity and building quality relationships.

After earning his B.S. in Business Administration and Management from Georgia State in 1985, Jerome headed to Chicago, where he worked for City and Suburban Distributors as Assistant to the General Manager. In 1986, Jerome returned to Atlanta where he managed City Beverage, a $15 million beverage distribution company. In 1990, along with his responsibilities as President of City Beverage Company, he began to integrate himself into real estate development by serving as a Project Manager for Gibraltar Land, Inc., an H.J. Russell-owned development firm, where he oversaw multi-million dollar residential and retail developments. In 1995, Jerome was named President and Chief Operating Officer of H.J. Russell focusing on the firm’s strategic direction and new business development. This position cultivated his passion for community revitalization and urban renewal. He started Russell New Urban Development in 2003 to provide high quality in-town developments that stimulate economic growth and excite people about urban living. As the renaissance of urban America continues, Russell New Urban is positioned to be a significant player in this space.

Like his father, Herman Russell, Jerome has an entrepreneurial flair, a firmly placed future orientation, and a dedi- cation to his community. He serves on the board of Citizens Trust Bank, H. J. Russell & Company, Concessions International, Metro Atlanta YMCA, Georgia State Foundation, Affordable Housing Coalition and Central Atlanta Progress. He is a member of the Urban Land Institute, Atlanta Rotary, Atlanta Chamber of Commerce the Young President Organization and the 100 Black Men of Atlanta. Jerome is married to Stephanie Russell and father of four children. REEC Board Member Biographies

Rod L. Bailey, Vice President of The Staubach Company is responsible for developing new business opportunities in an effort to drive additional revenue to all Staubach lines of business. Staubach has 1,400 people located in 60 offices throughout the Americas and serves more than 2,400 clients. The company completed 5,600 transactions totaling $21 billion and 290 million square feet during the fiscal year ending 2005. Worldwide, the DTZ Staubach Tie Leung partnership has more than 10,000 professionals delivering services and solutions to multinational clients.

Thomas J. Baltimore, Jr., President & Co-Founder of RLJ Development, LLC, a privately held real estate investment company owned and controlled by billionaire Robert Johnson (founder of Black Entertainment Television and owner of the NBA’s Charlotte Bobcats). RLJ has 30 hotels in its North America portfolio and additional 100 properties currently under contract. Upon completion of this transaction, the RLJ portfolio will be valued in excess of $3 billion.

Alan R. Braxton, Managing Partner & Co-Founder of Presidio Partners, LLC, a real estate private equity and advisory firm with a singular focus on providing capital raising and advisory services to real estate fund sponsors, operators, REITs and other real estate market participants. Since the firm’s inception in May 2003, Presidio has raised over $5.3 billion of equity on behalf of its clients. These engagements have included strate- gies for U.S., European and Indian real estate markets with institutional equity investors spanning the global markets.

Ronald Gaither, Chief Operating Officer of Arbor Commercial Mortgage, LLC, which combines traditional mortgage lending with the innovations of an investment bank, bridging the lending gap left behind by traditional sources of capital. Arbor Commercial Mortgage joins capital strength with financial flexibility to offer a broad array of commer- cial financing options, including Fannie Mae DUS, FHA, CMBS, DUS Seniors Housing, Bridge, Mezzanine and Arbor 85 Preferred. Arbor Commercial Mortgage also manages Arbor Realty Trust (NYSE:ABR), a real estate investment trust that invests in a diversi- fied portfolio of multifamily and commercial real estate related bridge and mezzanine loans, preferred equity investments, mortgage-related securities and other real estate related assets.

Victor B. MacFarlane, Managing Principal, Chairman and Chief Executive Officer of MacFarlane Partners, one of the leading real estate investment management firms in the U.S. with $15 billion in assets under management. Considered a pioneer of the urban investment concept among institutional real estate managers, Victor has 28 years of real estate investment, development and management experience and has worked extensively on behalf of some of the largest pension plans and institutions in the . Richmond S. McCoy, Founding Partner, President & CEO/CIO of UrbanAmerica, LP, founded in 1998 as a real estate private equity firm to become America’s pre-eminent vehicle for fiscally and socially prudent investment in inner city commercial real estate. UrbanAmerica’s Fund I and Fund II have raised over $500 million in equity. In 2004 UrbanAmerica’s Fund II extended its general partnership to include the New York-based Fisher Brothers. UrbanAmerica’s focus is to deploy equity into projects tenanted by gov- ernment, medical, academic institutions and supermarket-anchored retail in its portfolio, as well as for-sale housing. The organization operates a $400 million portfolio consisting of 25 properties and is currently developing over $600 million of new properties. UrbanAmerica’s investors include many of the country’s largest public pensions, banks and insurance companies.

Ronald K. McDonald, Managing Principal - Real Estate Capital Markets of RMC Development, LLC, a full-service real estate development consulting, finance and in- vestment company with a focus on private and public-private projects including major mixed-use, transit-oriented development (TOD) and base closure. RMC crafts solutions on behalf of public and private clients for large, complex real estate development projects that offer economic and community benefit. RMC spearheads the redevelopment of a former military base as a $250 million, 46-acre waterfront office campus across from the U.S. Naval Academy in Annapolis, MD.

Kenneth A. McIntyre Jr., Managing Director of MetLife is responsible for the various structured commercial mortgage products including senior notes, subordinate and mez- zanine debt, warehouse lines and subscription lines. Additionally, investments in private equity funds are originated in the Capital Markets Group. In 2006 Ken’s team generated in excess of $3.0 billion of commitments. MetLife has $32 billion of commercial mort- gages and $7 billion of equity real estate in its portfolio.

Aasia Mustakeem, Partner of Powell Goldstein LLP, is the Practice Group Leader for the Atlanta Financial Products and Real Estate practice group. Ms. Mustakeem practices in the area of commercial real estate, including representation of financial institutions in commercial loans, representation of developers in connection with commercial projects, representation of purchasers and sellers in acquisitions and dispositions of office, retail, hotel, industrial, timberlands and other commercial properties, negotiation and drafting of leases for both landlords and tenants in connection with commercial leasing; represen- tation in connection with secured financing involving inventory, equipment and similar assets; and project finance. She is also a member of the firm’s energy practice group. Quintin E. Primo III, Chairman & Chief Executive Officer of Capri Capital Partners LLC, a real estate investment management firm headquartered in Chicago. The firm has over $4.1 billion in real estate assets currently under management, representing pension funds, governmental agencies and other institutional investors.

Michael E. Tabb, Managing Principal of Red Rock Global, LLC and GVA Advantis Advisors, LLC, a full-service provider of real estate transaction management, advisory and development services to real estate owners and users. Red Rock specializes in advis- ing on revitalization and repositioning of underserved communities and underperforming asset, and executing these strategies through its owned subsidiary, GVA Advantis Advi- sors, LLC.

REEC Spring Chairman’s forum Confirmed Attendees as of September 21, 2007

Guests

Mr. Chuck Alexander Mr. Kenney Holley Ms. Treena Ross Vice President Chief Investment Officer Vice President Wachovia Bank, N.A. Atlanta Life Investment Advisors Ackerman

Ms. Cynthia Alexander Mr. Herman Howard Ms. Veleka Sauer President Vice President Director of Real Estate Portfolio Property Management LLC The HOK Planning Group Cox Cable

Mr. Michael Campbell Ms. Kelly Jefferson Mr. Troy Saunders Managing Director Associate Director of Real Estate UBS Wealth Management (UBS AG) Land Capital Group Home Depot

Ms. Nilsa Yvette Collazo Ms. Iris Jessie Ms. Shunda Sims Property Manager City Manager Associate UrbanAmerica, LP City of Riverdale Cousins

Mr. David Cornwell Mr. Reginald Mackey Ms. Lynn Smith Founder Analyst Associate DNK Cornwell Wells Real Estate Fund Cushman & Wakefield

Mr. Alben Duffie Mr. Preston D. Pinkett III Mr. Paul Viera President Vice President Chief Executive Officer Teja & Associates Prudential’s Social Investment Program Earnest Partners

Mr. Tres Dye Mr. Khalid Rashid Mr. Maurice D. Walker Attorney REEC Chairman’s Fellow Managing General Partner Kilpatrick Stockton Columbia Business School (CBS) Birch Advisors, LLC

Mr. Dayne Evans Mr. A.J. Robinson Senior Asset Manager President John Portman & Associates, Inc. Central Atlanta Progress (CAP)

REEC Board Members

Mr. Quintin E. Primo III Mr. Victor B. MacFarlane Mr. Kenneth A. McIntyre, Jr. Chairman & Chief Executive Officer Managing Principal, Chairman & Managing Director Capri Capital Partners, LLC Chief Executive Officer MetLife REEC Board Chairman MacFarlane Partners Ms. Aasia Mustakeem Mr. Rod L. Bailey Dr. Richmond S. McCoy Partner Vice President President & CEO/CIO Powell Goldstein LLP The Staubach Company UrbanAmerica, LP Mr. Michael E. Tabb Mr. Alan R. Braxton Mr. Ronald K. McDonald Managing Principal Managing Partner Managing Principal-Real Estate Red Rock Global, LLC and Presidio Partners, LLC Capital Markets GVA Advantis Advisors, LLC RMC Development, LLC Mr. Ronald Gaither Chief Operating Officer Arbor Commercial Mortgage, LLC REEC Members

Mr. Amachie Ackah Mr. Joel Miller Staff Managing Partner Chief Executive Officer Ceda Hill Real Estate Partners Wall Street Capital Funding, Inc. Mr. Oscar Groves Associate - Public Affairs Mr. Lee A. Brathwaite Mr. Lyneir Richardson Capri Capital Partners, LLC Vice President - Real Estate Vice President, Verizon Urban Land Development Ms. L. Heather Mitchell General Growth Properties, Inc. Vice President - Public Affairs Mr. Herman E. Bulls Capri Capital Partners, LLC Chief Executive Officer, Mr. H. Jerome Russell Public Institutions President Jones Lang LaSalle Russell New Urban Development, LLC Special Thank You Chief Executive Officer Bulls Capital Partners Mr. Kirk A. Sykes Capri Capital Partners, LLC President Powell Goldstein LLP Mr. Charles E. Frazier, Jr. Urban Strategy America Fund Red Rock Global, LLC President Russell New Urban Development, LLC Educational Development Company Ms. Lynn Tolliver of America Director MetLife Ms. Leslie D. Hale Vice President, Real Estate and Finance RLJ Development, LLC REAL ESTATE EXECUTIVE COUNCIL

Interested in becoming a REEC member, please contact:

Real Estate Executive Council 875 N. Michigan Ave., Ste. 3430 Chicago, IL 60611 (312) 573-5260 www.reec.org