Nov 2008 JOSE R. CRUZ EXECUTIVE DIRECTOR, CAPITAL MARKETS GROUP Mr. Cruz serves as an Executive Director of C&W's East Rutherford, New Jersey Investment Sales Group. He is responsible for marketing investment property, valuing institutional quality real estate, and property tours. Mr. Cruz is also responsible for providing analytical support, reviewing financial statements and examining lease information. Since 1997, Mr. Cruz has been involved in more than $12.0 billion of office, industrial, retail, multifamily and land sales. Mr. Cruz has been involved in several notable transactions including the sale of the 1.3 million square foot Starwood retail portfolio for $135 million to Inland Real Estate; the sale of the 1.2 million square foot Rockpoint/Allegiance Office Portfolio for $115 million to LaSalle, and the $75 million sale of 201-multifamily units from Korman Communities to Investcorp. Mr. Cruz and his partners have been the recipients of the 2000, 2001, 2004, 2005 and 2006 New Jersey NAIOP "Deal of the Year Award." Prior to joining the Investment Sales Group, Mr. Cruz was the Northeast Area Manager for the Research Services Department within C&W. He was responsible for overseeing a staff of twelve individuals that compiled detailed quarterly and yearly analytical market reports on the New York and New England areas. Prior to joining C&W, Mr. Cruz was a real estate analyst with PaineWebber, UBS, Inc. Mr. Cruz graduated from Rutgers University in 1991 with a bachelor's degree in Financial Economics and Real Estate Development. He obtained his MBA in Finance at Fordham University, with concentrations in Real Estate and Investments. Mr. Cruz has also received his Master of Science degree in Real Estate from Columbia University. He is currently a member of Pension Real Estate Association (PREA), Urban Land Institute, International Council of Shopping Centers (ICSC), New Jersey Apartment Association (NJAA) and National Multifamily Housing Council (NMHC). Mr. Cruz was also listed in the 2005 New Jersey Real Estate Rising Stars "40 under 40". He is also featured in the 2007 "40 under 40" most influential business people in New Jersey and the 2007 "Broker All Stars".

Ralph Zucker is President of Somerset Development, one of the New York Metropolitan region’s foremost pioneers of New Urbanism and Traditional Neighborhood Design development. Throughout his career, Zucker has worked hands-on in every facet of the building and development process, and has demonstrated a commitment to working with municipalities to create innovative communities based on the principles of New Urbanism. Zucker is perhaps best known for Bell Works, the two-million-square-foot redevelopment of the former Bell Labs property in Holmdel, N.J., where he and the Somerset Development team successfully transformed the iconic Saarinen-designed research facility into a “metroburb,” a term that Somerset coined to describe the suburban building’s revival into a blossoming, downtown-style ecosystem of technology, traditional office, retail, dining and hospitality. Today, Zucker and his team are in the midst of redeveloping The Ameritech Center in Hoffman Estates, Illinois, originally built as the former AT&T research facility, into Bell Works Chicagoland. The 1.65-million square foot building, which has already welcomed retail and office tenants, is quickly transforming into another successful metroburb. Under Zucker’s leadership, Somerset and its projects have earned numerous industry awards and recognition for their contributions to furthering responsible development practices, including the New Jersey Future Smart Growth Award for Wesmont Station, Somerset's 70-acre transit-oriented mixed-use redevelopment located in Wood-Ridge, N.J., where Somerset partnered with NJ TRANSIT to build a brand new train station that provides access to Manhattan.