University of St. Thomas, BA, Behavioral Science

Financial reporting and project accounting experience since 1998

Luisito Tila is responsible for project accounting for Burien Phases I and II and working with Treasurer Rob Starkman and Real Estate Capital Partners (RECP).

Prior to joining Urban Partners Mr. Tila worked as fi nancial accountant for Cushman & Wakefi eld of California, Realty Center Management Inc. He also served as Senior Cost Accountant for Nigro Development, LLC in Las Vegas, Nevada.

University of California at Los Angeles, BA, Business Economics

Public accounting and real estate development experience since 2003

Whitney Stephenson is responsible for financial underwriting and feasibility analyses on all potential Urban Partners residential and mixed-use developments. Her responsibilities include developing and maintaining relationships with land sellers, real estate brokers and municipalities, supporting capital raise initiatives, creating presentation materials, participating in presentations, communicating with potential investors and coordination of market research and due diligence activities. She is also responsible for valuation of company assets.

Prior to joining Urban Partners in 2005 Ms. Stephenson served three years as a public accountant at a CPA firm in West Los Angeles. She graduated from UCLA in 2002 with a degree in Business Economics and is currently earning her Masters in Business Administration from the Marshall School of Business at the University of Southern California.

Ms. Stephenson is a licensed Certified Public Accountant and a member of the Urban

Land Institute.

Merced College

Communications experience since 1999

Cheryl Rauth is responsible for front office services at Urban Partners and for correspondence with clients. She also assists Executive Assistants and Accountants with organization and record-keeping and with office supplies.

Prior to joining Urban Partners Ms. Rauth was a Retail Sales Executive at Clearwire, a wireless internet company, with an emphasis on sales, marketing and communications.

Rio Hondo College

Administrative and governmental experience since 1996

Denise Mendoza is responsible for Urban Partners’ office management, event coordination and public relations. In addition she serves as Executive Assistant to Urban Partners’ Principal Paul Keller and as project development coordinator for University Gateway.

Ms. Mendoza came to Urban Partners in 1999 with nine years administrative experience in private industry and at Los Angeles City Hall.

Wesleyan University, BA, Art and Architecture

Marketing and administrative experience since 1992

Jacqueline Martin is responsible for business development proposals and design and production of all company marketing and promotional materials. She also provides support

to Principal Dan Rosenfeld.

Ms. Martin worked previously at Jones Lang LaSalle and LaSalle Partners Development Management.

Indian River Community College, AA, Sociology

Project accounting and executive experience since 2001

Jennifer Kamphuis is responsible for all Urban Partners’ pre-development project accounting. She is also corporate accountant for Urban Partners and Executive Assistant to Matt Burton, Principal and Chief Financial Officer.

Ms. Kamphuis joined Urban Partners in May 2004 with three years experience in the insurance industry.

Stephens College, BFA, University of Texas at Austin, MFA coursework

Commercial real estate business management, marketing, project coordination and client support since 1999

Amy Hoffman is a development analyst for Urban Partners in the Seattle office where she is responsible for organizing the development process and providing marketing analyses for projects throughout the Northwest.

Prior to joining Urban Partners Ms. Hoffman spent seven years with Cushman & Wakefield where she provided business management, marketing and client support to industrial, office and retail brokerage and investment teams.

Ms. Hoffman is a Kansas native, but has called Seattle home for over ten years.

University of Washington, BS, Construction Management
University of Southern California, MRED
(Master of Real Estate Development)

Real estate development, marketing and finance
experience since 1986

John Gunn is responsible for several of Urban Partners’ major projects in California and for Burien Town Square in Washington State.

Mr. Gunn started his real estate career over 20 years ago in real estate syndication and finance, helping acquire and develop over 50 office properties nationwide for Equitec Securities at Union Bank of Los Angeles, and underwriting over one billion dollars of construction loans for single-family, apartment, condominium, office and retail projects throughout the West Coast.

Prior to joining Urban Partners Mr. Gunn served as Executive Vice President of The Hapsmith Company, a regional mall development company, and concurrently held the position of Owner’s Representative for Art Center College of Design in Pasadena, California. At Hapsmith Mr. Gunn was responsible for the company’s development, finance and operations activities. At Art Center he directed the school’s $150 million master planned campus expansion including facilities for education, administration, student housing, libraries and exhibitions.

Mr. Gunn is a licensed real estate broker in the State of California and a member of the International Council of Shopping Centers and Urban Land Institute.

Claremont McKenna College, BA, Economics and Government

Real estate finance, acquisition and development experience since 2002

Patrick Farley assists with management of Urban Partners’ development projects and analyzing acquisition opportunities in the Pacific Northwest.

Prior to joining Urban Partners Mr. Farley worked for Pope Resources, a publicly-held timber company in the State of Washington, with extensive real estate holdings and four master planned communities. Mr. Farley assisted with property evaluation, strategic planning, business management and disposition analyses for a diverse portfolio of properties.

Previously, Mr. Farley worked for Centra Realty Corporation in Irvine, California where he provided acquisition, financing and development management expertise for numerous commercial development projects in Southern California and Las Vegas. Mr. Farley was introduced to the real estate industry while working as a business consultant for Andersen and while providing tax advisory services for Deloitte & Touche’s Transfer Pricing group in Los Angeles.

Mr. Farley is a member of the Urban Land Institute and the National Association of Industrial and Office Properties.

Brown University, BA, Urban Studies and Architectural Studies

Real estate development and marketing experience since 2004

Melissa Epstein focuses on marketing and asset management for Urban Partners’ multi-family rental housing developments.

Ms. Epstein attended Brentwood School in Los Angeles and graduated with honors from Brown University in June 2006 with a double major in Urban Studies and Architectural Studies. While at Brown she worked with Cornish Associates, a prominent local real estate developer, helping with the development of their Mashpee Commons community on Cape Cod, Massachusetts.

Ms. Epstein also interned with the American Development Group in New York City and the Community Redevelopment Agency of Los Angeles.

Ms. Epstein is a member of the Urban Land Institute and serves on the Steering Committee for its Young Leadership Group. She is also a member of the Jewish Federation Real Estate and Construction Mentoring Group.

University of London

Marketing and administrative experience since 1999

Cwennen Corral serves as Project Coordinator for several Urban Partners projects.

Immediately prior to joining Urban Partners Ms. Corral worked for Sony Pictures Television in affiliate marketing. She worked previously for Disney Magazine Publishing as an Advertising Sales Coordinator and also worked for MGM in the outside producer accounting group focusing on contract research for profit participation.

Santa Ana College, Advanced Technical Center MCP, CNA, MCSE and CCNA training AMA management training

Information Technology support experience since 1998

Aaron Betts manages all Information Technology (IT) issues in the Los Angeles and Seattle offices, as well as all IT field personnel.

Prior to joining Urban Partners, Mr. Betts was one of the principal partners in MB Systems Technology. As the Director of Technology, he was responsible for the design and deployment of new technologies for clients, including Stussy, ICI Development Company, New Horizons, Update Legal and Country Garden Landscape.

Previously, Mr. Betts served as the IT manager for companies such as Menemsha Construction Solutions, Gateway Learning Corporation (a.k.a. – Hooked on Phonics) and Honeywell.

East Los Angeles Community College, AA, Business

Administrative and design experience since 1989

Cathey Baquero serves as a Principal Executive Assistant to John Hrovat and provides support for development team members on several Los Angeles and Ventura County projects.

Ms. Baquero worked previously at Lowe Enterprises and Keller Construction.

Western Washington University, BA, Music

Real estate finance and construction experience since 2001

David Armitage assists with management of Urban Partners’ mixed use development portfolio in Southern California and Washington.

Prior to joining Urban Partners, Mr. Armitage worked with the Debt Advisory Group at AIG SunAmerica Affordable Housing Partners, where he provided financial modeling, underwriting and transaction management for loan origination, securitization, tax-exempt bond finance and other real estate capital markets transactions.

Mr. Armitage holds a Bachelor of Music degree from Western Washington University and is currently enrolled at the UCLA Anderson School of Business, where he will earn his MBA in 2009. He is a member of the Urban Land Institute and the National Association of Industrial and Office Properties.