Governance and Administration

Valuation:

• Independent 3rd party fund valuations conducted quarterly with annual audit valuations prepared by SGGG Fund Services Inc., a provider of similar services to over 200 funds representing assets in excess of $5 billion

Legal:

• Goodmans LLP
• Aird & Berlis LLP

Custodian of Assets:

• CIBC World Markets Inc. 

Auditor:

• SGGG LLP, Chartered Accountants

Prime Broker:

• CIBC World Markets Inc.

Advisory Board

Dino Chiesa

• Current Chair of the Canada Mortgage and Housing Corporation (“CMHC”), a Canadian government crown corporation which is the premier provider of mortgage loan insurance, mortgage-backed securities, housing policy and programs, and housing research (www.cmhc-schl.qc.ca)

• Recent CEO of Toronto Lands Corporation, a subsidiary of the Toronto Public School Board, responsible for handling surplus properties

• Previously President and CEO of Residential Equities Real Estate Investment Trust. Subsequent to its acquisition by Canadian Apartment Real Estate Investment Trust, Mr. Chiesa has continued his involvement as a member of its Board of Trustees

• Previously Assistant Deputy Minister at the Ontario Ministry of Municipal Affairs and Housing, and CEO of Ontario Housing Corporation

• Member of Advisory Board of the Schulich School of Business at York University in Toronto

Gary Goodman

• Most recently, Executive Vice-President, Reichmann International

• Senior executive and trusted advisor for Mr. Paul Reichmann and his affiliated companies and REITs for over 30 years

• Actively involved as a senior financial executive in Mr. Reichmann’s Olympia & York Developments Ltd., acquisition and divestures of Canary Wharf, Central Park Lodges, Retirement Residences REIT and IPC REIT

• Previously, President and CEO of IPC REIT, a Canadian REIT which was focused exclusively on U.S. commercial, mainly office, properties. IPC REIT was sold in December 2007

• Trustee of Boardwalk REIT and Huntingdon REIT, Director of Gazit America Inc.

• Mr. Goodman is a (gold medalist) Chartered Accountant and resident of Toronto

Albert Soberano

• Mr. Soberano is an accomplished entrepreneur, investor and corporate executive with extensive experience in the areas of retail, real estate ownership and development, corporate marketing and promotion, and apparel manufacturing.

• Recent C.E.O of Y.M. Inc., a large privately owned company that is one of North America's leading apparel retailers, operating over 600 stores including banners such as Stitches, Bluenotes, Suzy Shier, Urban Planet and Sirens and Number Seven stores.

• Previously President of The Whitby Waterfront Development Corporation where he spearheaded the development of the highly successful Yacht Club Condominiums at Whitby Harbour in conjunction with his joint venture partner Canderel Limited.

• Mr. Soberano is also an active philanthropist, primarily through his role as Director of Yaldeinu, a charity devoted to helping foreign underprivileged and victimized children, and as a founder and President of The Soberano Charitable Foundation.

Adam Berkowitz

• Mr. Berkowitz is a principal at privately held Croft Properties in New York. Croft and affiliated family entities own over 200 multi-family and commercial properties in the United States.

• Prior to Croft Properties, Mr. Berkowitz was part of a team managing over $1 billion of assets at High Rise Capital Management, a dedicated public real estate hedge fund in New York.

• Previously, Mr. Berkowitz was at Argent Ventures, an opportunistic real estate partnership based in New York, and a real estate investment banker at Lazard Freres, where he advised public real estate companies on corporate mergers and asset sales.

• Adam graduated with a BA in Economics from the University of Pennsylvania, an M.Phil from Cambridge University in England, an MA in real estate from the NYU Real Estate Institute and a JD from NYU School of Law.