Dan Dubrowski is a co-founding partner of Lionstone Investments. As Head of Capital Formation, he leads capital efforts across the firm’s investment strategies, with primary responsibility for investor relationships, fundraising, marketing and communications, new business generation, and the structuring of new investment products. Mr. Dubrowski is a voting member of the Investment committee. Prior to Lionstone, he was a senior officer with Hines for ten years. Before that, he was an auditor and consultant with Arthur Andersen LLP in New York. He received a B.S. in Business Administration from Georgetown University and an MBA from Harvard University.

Kevin Wyatt is a Senior Vice President of Lincoln Property Company. Kevin has over twenty-six years of diversified professional experience in commercial real estate. His primary responsibility includes leasing for a variety of institutional third party managed real estate assets including high and low rise commercial office buildings, retail, service centers/warehouse facilities and industrial parks totaling nearly one million square feet.

In his 26 years of experience, he has represented major corporate clients, including ING Baring, MetLife, Manufacturers Life, New York Life, Realty Financial Partners, and Harbert Financial. Notable leases in his career include a 700,000 SF lease for Dynegy Inc., a 235,000 SF corporate headquarter consolidation for Exterran (the NAIOP “Deal of the Year”), a 139,083 SF lease for Gardere Wynne Sewell LLP, a 121,000 SF lease with Wells Fargo Bank and a 101,600 SF lease for Targa Resources. Kevin was runner up for the NAIOP “Deal of the Year” for the Dynegy Lease and has been named a Real Estate “Heavy Hitter” by HBJ on several occasions.

As Director of Berkadia’s Houston Multifamily Investment Sales Team, Jennifer Ray has extensive knowledge in the disposition of multifamily assets in Texas. Ms. Ray has spent her entire career in the commercial real estate industry with over 11 years of transactional experience totaling $3.5 billion.

Prior to joining Berkadia, Ms. Ray was the Associate Director for CBRE’s Houston Multifamily Investment Properties team where she successfully closed $1.9 billion in multifamily dispositions

for institutional, high net worth, and private equity organizations. Before a career in brokerage, Ms. Ray did acquisitions nationally for Invesco Real Estate acquiring over $787 million in real

estate transactions including joint ventures and new construction projects.

Mike Kennedy is a Principal with Avison Young and a Principal with Altera Development, providing innovation and leadership in land brokerage, strategic analysis and development. Mike blends his unique background in real estate and architecture to create unique, financeable real estate and development and brokerage solutions. Recent activity includes brokerage and advisory services on the 160 acre Indigo Ridge Mixed Use Development in Cedar Park, sale of the 100 acre Collin Creek Mall property in Plano, and development of the Marriott Delta Hotel and Convention Center in Allen. Mike received his Masters Degree in American Urbanism from The University of Virginia.

Rick Harsch has over 35 years of diverse commercial real estate experience. These

experiences and expertise include; Cost Segregation/Tangible Property Regulations;

Banking/Real Estate Underwriting; Real Estate Feasibility/Valuation; Asset

Management/Property Due Diligence; Loan/Asset Workouts; Sale & Lease Transactions, Deal

Structuring/Capital Procurement & Real/Business Personal Property tax matters. He has a

broad & thorough knowledge of real estate & commercial banking. His experience and work

have taken his to 45 states and involved the full spectrum of real estate in terms of asset

quality, size, asset type & location. He has worked for Citibank, N.A., KeyBank Real Estate

Capital, SouthTrust Bank, Fairfield Financial Group/Regency Savings Bank F.S.B and other

regional banks. Rick began his career at Gulf Oil Exploration & Production Company

underwriting and analyzing oil & gas drilling opportunities. After which he transitioned into

back with Capital Bank, N.A. Rick is a graduate of the University of Texas at Austin McCombs

School of Business with a degree in Finance/Real Estate. He is active, long time volunteer

with the Houston Livestock Show & Rodeo, being a Past Committee Chairman and serving on

3 committees. He has worked and works extensively with the University of Texas System,

University of Texas at Austin, McCombs School of Business, UT Health, Longhorn Foundation

and the Texas Exes. Rick is an advocate of Higher Education. Rick service and is involved with

River Pointe Church, HIS Print Ministries, The Get Together, Toolbox Luncheons & Tres Dias.

Additionally Rick is involved with numerous professional real estate and civic organizations.

Mr. Harsch is an active, long time volunteer and Past Chairman with the Houston Livestock Show & Rodeo. He works extensively with the University of Texas at Austin, McCombs School of Business, University of Texas System, UT Health, Longhorn Foundation and the Texas Exes. He has held or currently serves in both leadership and board member capacities. He is a significant advocate of higher education. Additionally Rick is involved with numerous professional real estate and civic organizations.

"As Head of Origination, Dan Ford focuses on working with lenders and sponsors to find and develop opportunities to place investments.

Immediately prior to MidHudson, Dan was Senior Vice President at GEM Equity, working with sponsors to structure capitalization strategies for development and acquisition projects. His other prior experience includes executive and production roles at Hawthorne Companies, Urban Pace and Cassidy Turley. Dan graduated from Penn State and the Kogod School of Business at American University."

Mr. Alexander graduated from the University of Texas (Austin) with highest honors majoring in real estate. Drew joined WRI in 1978 as a Leasing Executive in the Retail Division. He held various positions and was named President of WRI in 1997 and was appointed the Company’s Chief Executive Officer in 2001. Mr. Alexander serves on the Board of Weingarten Realty Investors.

Mr. Alexander is active in a number of civic and charitable organizations. He serves as a director of The Texas Medical Center, The Gladney Fund, The Endowment Board of the Houston Food Bank, The Real Estate Center at the University of Houston, and United Way of the Texas Gulf Coast. Mr. Alexander previously served on a number of Boards including Houston Food Bank, Houston Achievement Place, The Gladney Center, Rebuilding Together Houston, Charter Bancshares, Academy Sports & Outdoors and Susser Holdings Corp. Additionally, he is a past member of several committees at Congregation Emanu El and the Jewish Federation of Greater Houston. Further, Mr. Alexander is a trustee and past chairman of the International Council of Shopping Centers and current trustee of the National Association of Real Estate Investment Trusts.

Andrew Pappas is a Partner and head of NAI Partners’ Investment Fund. Andrew is responsible for building a platform that allows its investors to capitalize on NAI’s extensive market knowledge in order to generate attractive, risk adjusted returns. Through the NAI Partners Investment Fund, Andrew is assembling a $200-250 million diversified portfolio of value-add office and industrial real estate. Upon acquisition, Andrew is responsible for carefully executing value-enhancement and asset management strategies in order to maximize returns.

Prior to joining NAI Partners, Andrew served as Vice President at Vista Private Equity Group in Houston, Texas. While at Vista, Andrew directly worked on a multitude of retail, office, medical office, build-to-suit, and ground-up development real estate transactions ranging from $15 – 70 million. Furthermore, Andrew directly supported the acquisition and strategic operation of multiple private equity investments in closely-held businesses with annual cash flows ranging from $2 to $10 million. Andrew also spent time in investment banking and public accounting in Houston and New York City, and is involved in a variety of entrepreneurial ventures.

Originally from Coppell, TX, Sean has an undergraduate degree from Colorado State University and a graduate degree from the University of Colorado Graduate School of Banking

Sean has over a decade of experience in the commercial real estate finance and commercial banking space. Prior to Greenworks Lending, Sean was a Senior Vice President of Commercial Banking with ANB Bank, a mid-sized community bank based out of Denver, CO, specializing commercial real estate, C&I, state housing tax credit finance, and most recently, CPACE. Since 2017, he focused his efforts on building awareness of the CPACE/energy efficiency initiative throughout the Mountain West and Texas, and as of 2019 he began his role as the regional Director for Greenworks Lending.

Lance Wright is a Managing Director for ACORE Capital and operates out of the firm’s Dallas, Texas

office. He manages the Central Region for ACORE which includes both the Southwest and Midwest

areas of the United States and he originates roughly $1 billion of debt volume per year.

Prior to his current role, Lance was a Regional Director at GE Capital Real Estate where he oversaw the

origination efforts in the Central portion of the United States. While at GE, Lance was named one of the

“20 Rising Stars in Real Estate” by Institutional Investor News in 2008. Prior to this position, Lance was a

Senior Director at GE and was consistently one of the top producers within North America Lending.

Lance has been actively involved in the real estate finance industry since graduating from SMU in 1990.

He joined GE in 2001 from Heller Financial where he was Director. Earlier in his career, Lance worked

with Amresco in Dallas.

Currently a Vice Chair of the 1,250-member ULI North Texas Chapter, Lance is an active member in the

national ULI Student Housing Council (STHC), and is also a member of NMHC, MBA, ICSC and The Real

Estate Council (TREC).

Lance has a BBA in Finance from SMU and an MBA in Finance from the University of Texas at Arlington.

While at SMU, Lance was a member of the 1986 SMU Mustang football team

Lance has been married to his wife, Angie, for 19 years and they reside in University Park, Texas. They

have three children – Christian (age 16), George Nicholas (age 14) and Alexandra (age 10). Lance

enjoys watching his children’s sports teams, playing golf, traveling, and reading in his spare time.

Rhonda J. Sands is a Frost senior vice president and relationship manager serving customers in the

Houston region. Rhonda has 39 years of industry experience. Her wealth of knowledge coupled with her

expertise help build strong banking relationships with her customers and colleagues.

A proud graduate of the University of Texas at Austin with a BBA and an MBA, Rhonda’s commitment to

continued learning and leadership development is evident through her involvement with Commercial

Real Estate Women (CREW) Network, both as a member and by serving on the board. Her community

involvement includes the Advisory Board for Women’s Resource of Greater Houston, and Treasurer of

St. Philip Presbyterian Church.

In addition to helping Frost grow and prosper through her strong interpersonal skills and her vast

product knowledge, Rhonda enjoys spending time playing golf and summertime hiking in the mountains.

Alison Dimick Malkhassian is a 30-year veteran of the real estate industry with more than 25 years

exclusively dedicated to all facets of multifamily investments. Her experience runs across a variety of

capital platforms, including investment banking, pension fund advisory, public REIT and private equity.

Over the course of her career as a multifamily specialist, she has overseen or completed the

acquisition of over $1.1 billion in assets, $725 million of dispositions, $300 million in structured finance

transactions, and $2 billion in M&A transactions.

In 2012, Malkhassian formed Alara Ventures to focus on investing exclusively in multifamily

opportunities offering high risk-adjusted returns. Alara achieves this by utilizing moderate levels

of leverage; investing in highly desirable or unique locations; in assets especially well-suited to a

definable demand in the renter market within that specific location; and, offering multiple exit

opportunities. The firm invests with its high net-worth investor partners and to date has acquired

approximately 1,500 units valued at over $165 million.

Prior to forming Alara Ventures, she served as an Officer and Senior Vice President of Camden

Property Trust where she led acquisitions, dispositions, and research for the company between

1997 and 2003. In her capacity as a company Officer, she sat on the Investment Committee and

approved in excess of $1 billion in development activity during her tenure.

Malkhassian has served as the Director of Multifamily Investments for The Lionstone Group

where she was responsible for all aspects of the firm’s multifamily platform including the

development of its multifamily investment strategy, research, acquisitions and dispositions. Prior

to that she served as President of U.S. Residential, a subsidiary of U.S. Advisors, where she

was responsible for the Company’s multifamily investments. Before joining US Advisors,

Malkhassian served as EVP and Chief Investment Officer for WMC/Walden Investment

Partners, a subsidiary of Olympus Real Estate Partners.

She is a long-time member of National Multi-Housing Counsel and has been featured in articles

in London Financial Times, Barron’s and other publications regarding investment strategy and

structured transactions. She graduated from The University of California at Davis and lives in

Houston with her husband and son.

Greystone is one of the top-ranked Fannie Mae and Federal Housing Administration (FHA) lenders in the country. We offer a broad variety of loan products - both taxable and tax-exempt - to facilitate the building, rehabilitation and repositioning of multifamily housing, seniors housing and healthcare facilities.

Real estate lending has been Greystone's core business for nearly two decades. We work with both large and small clients, and our national team of professionals has built strong, collaborative relationships with Fannie Mae and HUD.

Greystone's capital markets expertise enables us to deliver competitive pricing and superior execution across our entire portfolio of products, which includes:

• Bridge Loans

• Fannie Mae DUS™ Loans

• Small Balance Loans

• FHA Programs

• Seniors Housing and Healthcare Loans

• Bond Credit Enhancements