Principals of NEXREGEN.

Ray Wirta

Ray Wirta is a founding member of NEXREGEN. In 2005, Ray retired as the Chief Executive Officer of CB Richard Ellis (CBRE), the largest real estate services company in the world. Ray continues to serve as Co-Chairman of the Board of CBRE and as Chairman of the Board of CBRE Realty Finance, Inc., a real estate finance company. During his eight-year tenure as Chief Executive Officer of CBRE, Ray was responsible for increasing its value by a factor of six, as well as taking the company public. CBRE is now a New York Stock Exchange listed company under the symbol CBG. CBRE Realty Finance is also a NYSE-listed company under the symbol CBF. OTHER THAN THE COMMONALITY OF MR. WIRTA, NEXREGEN HAS NO RELATIONSHIP TO CBRE OR CBRE REALTY FINANCE.

Prior to his career at CBRE, Ray was Chief Executive Officer of Koll Management Services and Koll Construction Company. Koll was one of the largest developers and managers of commercial real estate in Southern California in the 1980's and 1990's.

Ray holds a B.A. from California State University, Long Beach and an M.B.A. in International Management from Golden Gate University.

Harold Hofer

Harold Hofer is a founding member of NEXREGEN. Harold, a non-practicing lawyer with more than 25 years experience in real estate, has participated both as a principal and a broker in real estate transactions exceeding $2 billion. Harold has extensive underwriting and acquisition experience and has asset managed multi-hundred million-dollar portfolios of owned properties.

A significant portion of Harold's real estate experience has been as the sponsor of real estate investment products geared toward the needs of individual investors.

Harold received B.A., M.A. (Economics) and Law degrees from U.C.L.A., where he was a member of the U.C.L.A. Law Review. Harold, an inactive member of the California State Bar, is a licensed real estate broker in California and has passed National Association of Securities Dealers (NASD) Series 7, 24, 39 and 63 examinations.