The Corcoran Group has exemplified a steadfast commitment to service, creativity and hard work. The company was founded in 1973 as New York City began an historic transition from being a market predominately composed of rentals to one of individual ownership. Corcoran grasped the implications of this change by targeting specific neighborhoods and concentrating on higher-end properties. With that strategy, we quickly rose to prominence and thanks also to the acquisition of major real estate companies in Manhattan and Brooklyn, today we are the largest residential real estate firm in New York City.

Maui Land & Pineapple Company, Inc. engages in the resort and community development businesses. The companys Community Development segment provides real estate entitlement, development, construction, sales, leasing, real estate brokerage, and water and sewage transmission services. It leases commercial and residential properties; and provides license and lease arrangements for the use of buildings, facilities, land, and trade names. Maui Land & Pineapple Companys Resort segment operates 2 championship golf courses, a tennis facility, a spa, retail outlets, a hotel, residences and clubs, a bay, 8 residential neighborhoods, a commercial space, and restaurants, as well as approximately 700 single-family residential lots, condominiums, and homes.

Highwoods Properties, Inc. is a real estate investment trust. The trust engages in leasing, management, development, construction, and other customer-related services for its properties and for third parties. It invests in the real estate markets of United States. The trust’s portfolio includes office, industrial, and retail properties. Highwoods Properties was founded in 1978 and is based in Raleigh, North Carolina.

Hostmark Hospitality Group manages 38 properties with more than 6,700 rooms in 15 states, Egypt and the British West Indies. The company also operates stand-alone concept restaurants and maintains a strong presence in this business segment.As a preferred, award-winning hotel management company for Marriott, Hilton, Starwood and IHG, Hostmark Hospitality Group consistently delivers superior results to institutional real estate owners, non-institutional ownership groups, publicly traded companies, joint ventures and privately held companies by providing hotel management, asset management, project management and lender consulting services.Hostmark Hospitality Group also offers specialized programs for CMBS special servicers and balance sheet lenders managing under-performing hotel loans. Acting in a consulting capacity, Hostmark provides hotel analytical and operating advisory services to lenders needing hospitality expertise and workout advice on asset disposition strategy. Hostmark Hospitality Group has also performed the role of court appointed receiver and operator in more than 170 foreclosed properties. Whether through workout advice, operational improvements or through management improvement, Hostmark has assisted numerous lenders and borrowers in maximizing both the short term cash flow and long term value of their assets.

Morguard is one of Canada's largest integrated real estate companies with a diversified portfolio of more than $8.7 billion in properties owned or under management. We offer investment and property management services across all asset classes: office, retail, industrial, and residential. We operate from a nationwide network of offices in the country's major Markets.

LaSalle Hotel Properties is a self-administered and self-managed real estate investment trust (REIT) that invests in, renovates, and leases luxury full-service hotel properties in the US. It owns about 35 hotels in about a dozen states. Its hotels, which together have about 8,500 rooms, are typically located in major urban markets near convention centers, business districts, and resorts. The properties are managed by outside hotel operators under such brand names as Marriott, Sheraton, and Hilton. Among its properties are Hilton San Diego Resort and Spa and Hotel Deca in Seattle. LaSalle Hotel Properties became self-managing in 2001 after three years under the wing of Jones Lang LaSalle.

Founded in 1984, Ashley Capital has become one of the largest privately-held real estate investment companies in the United States. Based in New York, the firm has offices in Atlanta, Chicago, Detroit, Grand Rapids and Norfolk, VA.Ashley’s current portfolio stands at approximately 22 million SF, with properties concentrated throughout the eastern half of the United States.

United Capital Corp. engages in the investment and management of real estate properties. The company also operates hotels, as well as manufactures and sells engineered products. Its Real Estate Investment and Management segment invests in and manages real estate properties, as well as engages in making short-term loans secured by desirable properties. This segment owns properties that are leased primarily as department stores, shopping centers, restaurants, and office buildings; and properties available for sale and lease, as well as owns day-care centers in New York City.

The Sterling Organization (formerly Sterling Centrecorp) invests in, develops, and manages commercial real estate -- primarily retail properties -- in the US. It owns some twenty properties comprising approximately 6 million sq. ft. of space in five Sun Belt states, as well as Denver and Chicago. It also has several properties under development. For acquisitions, the company targets large (over 50,000 sq. ft.) retail centers worth between $10 million and $100 million in population centers with more than 50,000 residents and average household incomes in excess of $55,000.

BRE Properties Inc., a real estate investment trust (REIT), engages in the development, acquisition, and management of multifamily apartment communities in the western United States. As of July 19, 2005, the company owned and operated 84 apartment communities totaling 23,826 units in California, Arizona, Washington, and Colorado. It also had 9 other properties in various stages of development and construction consisting of 2,339 units, as well as joint venture interests in 2 additional apartment communities comprising 488 units, as of the above date. The company has elected to be treated as a REIT and would not be subject to federal income tax, if it distributes at least 90% of its taxable income to its shareholders. BRE Properties was founded in 1970 and is headquartered in San Francisco, California.

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