PRINCIPALS

John P. McCann,
Principal and Founder
Mr. McCann retired as Chairman of the Board and Chief Executive Officer of United Dominion Realty Trust, Inc., in March 2001. Mr. McCann headed United Dominion, a NYSE-listed REIT located in Richmond, Virginia, as CEO for 27 years. Mr. McCann oversaw United Dominion's growth from $3 million in real estate investments in Virginia and three employees to more than $4 billion of apartments nationally and 2,500 employees at the time of his retirement. The company is often cited as the prototype for the modern real estate investment trust, a national, property-specific operating company with the investment capability to acquire and renovate and develop.

Mr. McCann was a long time member of the Board of Directors of National Multi-Housing Council, a trade association of large apartment owners, and chaired its Legislative and Tax Committee. He is also a member of the Urban Land Institute. Mr. McCann is on the Board of Directors of LandAmerica Financial Group, Inc., a title insurance holding company and was on the Board of Directors of Storage USA until its merger with Security Capital Group in 2002. He currently serves as Chairman of the Board of Commissioners of the Virginia Housing Development Authority, the Virginia state housing finance agency.

W. Brand Inlow,
Principal and Chief Investment Officer
Mr. Inlow has over 30 years experience with apartment acquisitions and management. Since November 2003, Mr. Inlow has provided professional consulting services to the multifamily industry on matters related to acquisitions, dispositions, asset management and property management operations, and through an affiliation with LAS Realty in Richmond, Virginia conducts commercial real estate brokerage. Mr. Inlow also is president of Jessie's Wish, Inc., a Virginia non-profit corporation dedicated to awareness, education and financial assistance for patients and families dealing with eating disorders.

Mr. Inlow served as president of Summit Realty Group, Inc. in Richmond, Virginia, from September 2001 through November 2003. Prior to joining Summit Realty, from December 1999 to August 2001, he was vice president of acquisitions for EEA Realty, LLC in Alexandria, Virginia, where he was responsible for acquisition, disposition, and financing of company assets, which were primarily garden apartment properties. Prior to joining EEA Realty, from December 1992 to November 1999, Mr. Inlow worked for United Dominion Realty Trust, Inc., a publicly traded REIT, as assistant vice president and senior acquisition analyst, where he was responsible for the acquisition of garden apartment communities. Mr. Inlow serves as an independent director of Grubb & Ellis Apartment REIT, Inc. and is a trustee of the G REIT, Inc. and T REIT, Inc Liquidating Trusts.

D. Fleet Wallace,
Principal
Mr. Wallace has diverse legal transactional experience in corporate and debt finance, real estate, corporate securities, venture capital, and mergers and acquisitions. From 1998 to 2001, Mr. Wallace worked with Mesrrs. McCann and Inlow as corporate counsel and assistant secretary of United Dominion Realty Trust, Inc., a publicly-traded real estate investment trust. While at UDR, Mr. Wallace managed general corporate matters for over 150 affiliated entities, negotiated and executed numerous real estate acquisitions and dispositions and provided legal support on over $1 billion in real estate financing transactions.

After leaving United Dominion in September 2001, Mr. Wallace founded Greystone Capital Management, LLC, which manages Greystone Fund, L.P., a professionally managed opportunity fund invested primarily in promising venture capital opportunities and distressed assets in the form of real estate, notes and accounts receivable, inventory and other assets, and Greystone Finance, LLC, a commercial finance company targeting Virginia-based companies. From 1994 to 1998, Mr. Wallace practiced corporate, securities, and merger and acquisition law as an associate in the corporate section at McGuireWoods in Richmond, Virginia. Mr. Wallace is on the Board of Directors of Grubb & Ellis Company and is a trustee of the G REIT, Inc. and T REIT, Inc Liquidating Trusts.

Mark E. Wood,
Principal and Director of Development
Mr. Wood has over 25 years of experience in multi-family development. From 1994 to 2007, he served as Senior Vice President – Development and in various other development capacities at United Dominion Realty Trust, Inc. and its predecessor by merger South West Property Trust, Inc. While working with Messrs. McCann, Inlow and Wallace at United Dominion, Wood’s responsibilities included the overall development and construction of more than 7,600 multi-family units. He was responsible for site selection, project planning and entitlement and construction in the west which included the Southwest, Rocky Mountain and West Coast regions.

While at South West Property Trust, Mr. Wood formed the company’s new multi-family construction group and was responsible for overseeing the construction of multiple projects in southwestern and southeastern markets. From 1987-1994, Wood owned and managed his own general construction company.

Eric Phipps,
Vice President - Asset Management
Mr. Phipps has over 12 years experience in the field of Apartment Management in a variety of positions. He served five years as the Property Manager for a large community owned by a national REIT and three years in Richmond, VA as a Regional Manager for a regional management company. His background in property management includes new construction lease-ups, asset management, major property renovations and management of a portfolio of 10 properties ranging from Class A to Class C.

| See Our Partners |