America's Capital Partners, Overview

THE TEAM

The ACP executive team consists of seasoned commercial real estate professionals with experience in real estate brokerage, development, construction and capital markets. Our key decision makers built their careers from the ground up in commercial real estate brokerage and offer hands-on, real world expertise.

Allen C. de Olazarra, Chairman and CEO
Sergio G. Socolsky, Vice Chairman
Jude M. Williams, President
Ted Pinckney, Vice President, Construction
Agnes M. Arcia, Senior Vice president, Corporate Treasurer

Allen C. de Olazarra, Chairman & Chief Executive Officer
Mr. Allen C. de Olazarra began his career in Florida as a Senior Director of Cushman & Wakefield of Florida, Inc. (C&W). His highly successful career there was highlighted by several awards and distinctions including receiving the C&W's prestigious "Deal of the Year" award given for the transaction judged to be the most imaginative in conception and execution on two occasions.

1993, Mr. de Olazarra left Cushman & Wakefield to form a partnership with James R. Heistand, the founder of Associated Capital Properties, Inc. At that time, Associated Capital Properties, Inc. was a full service real estate operating company based in Orlando, Florida, which provided third party real estate services, but owned no real estate. Between 1993 and 1997, Associated Capital Properties, Inc. acquired over 80 office properties throughout the state aggregating over 6,500,000 square feet and comprising the largest portfolio of office properties controlled by a single entity in the State of Florida. Associated Capital Properties, Inc. merged with Highwoods Properties, a real estate investment trust, on October 1, 1997, in a transaction valued at $622 million. Mr. de Olazarra stayed on with Highwoods Properties for eight months after the merger as Vice President of Acquisitions and Development in Florida.

On June 1, 1998, Mr. de Olazarra became co-founder, Chairman and Chief Executive Officer of America's Capital Partners (ACP). In the first year of operation, ACP acquired over 3,200,000 square feet of office properties in South Florida, 1,000,000 square feet of community shopping centers throughout Florida and land entitled for the development of 3,000,000 square feet of suburban office buildings in Florida and Northern Virginia. From there, Mr. de Olazarra led his team in the acquisition and development of an additional 14,000,000 square feet of commercial property.

Mr. de Olazarra is a native of Miami and is active in the South Florida community. He recently served as the Vice Chairman on the Board of Directors for the Children's Home Society Foundation. Mr. de Olazarra has also established two private foundations, one providing educational opportunities for underprivileged children and another providing transitional housing for homeless women with children. Mr. de Olazarra is a Licensed Real Estate Broker, and a frequent guest speaker at real estate and financial industry events.

He graduated with a Bachelor of Arts Degree in English from the University of Virginia where he currently teaches as an adjunct professor of real estate.

Sergio G. Socolsky, Vice Chairman
Mr. Sergio G. Socolsky serves as Vice Chairman of America's Capital Partners (ACP) headquartered in Miami, Florida. With over 25 years of vast domestic and international real estate investment, development and construction experience, Mr. Socolsky brings tremendous knowledge and depth from both a capital market and real estate perspective. He is responsible for acquisitions, capital formation and development for ACP. He has spearheaded the company's efforts in the development of self-storage and high-rise residential projects. During his tenure at ACP, Mr. Socolsky has been instrumental in the acquisition and disposition of over $2.5 billion in commercial properties.

Prior to joining ACP, Mr. Socolsky was Executive Director and Principal of Sococia S.A. from 1983 until 2000, a construction and development company based in Buenos Aires, Argentina. Established in 1958, the company grew to employ as many as 1200 people. His responsibilities included overseeing the development of projects throughout the country, acquisitions and dispositions, and the company's financial planning. During 1988, he was responsible for the involvement of the company in country debt swap projects in Argentina, Chile and the Dominican Republic, aggregating over $250 million.

Mr. Socolsky co-founded and acted as CEO of Valle de Aminga S.A. from 1992 until 2000, an olive grove concern located in the province of La Rioja Argentina with 650 acres of olive groves under management.

Mr. Socolsky graduated from the University of Miami with a Bachelor's degree in Finance.

Jude M. Williams, President
Mr. Jude M. Williams is President of America's Capital Partners and directs property operations and leasing activities through its operating company, ACP Realty Services. He is a member of the investment committee and oversees underwriting and due diligence for all of the firm's office building acquisitions. Mr. Williams is a licensed real estate broker in the states of Florida, Georgia, Texas and the Commonwealth of Virginia.

Mr. Williams began his career in the Houston office of Cushman Realty Corporation, where he specialized in tenant representation from 1978 through 1983. From 1983 to 1987, he was Director of Marketing in the office building division of Don R. Mullins Interests, a major Houston-based privately held office building investment and development firm.

Prior to joining America's Capital Partners, Mr. Williams was President of American Ventures Realty Corporation and Director of its investment management affiliate, American Ventures Realty Investors, Inc. (AVRI) where he co-chaired the investment committee and headed the asset management committee. AVRI's first institutional real estate fund launched in 1992, AVP Fund-I, performed among the top of all U.S. closed-end real estate funds, with a 22.85% annualized time-weighted total return to investors during its eight-year life. At American Ventures Realty Corporation, Mr. Williams directed the acquisition, asset management, leasing and property management divisions where he designed and implemented leasing and operating strategies for over 45 separate office and retail center properties, comprising over 6.2 million square feet of space.

Mr. Williams is a graduate of the University of Texas, School of Business.

Ted Pinckney, Vice President, Construction
Mr. Ted Pinckney's association with America's Capital Partners (ACP) began well before he joined the firm. Mr. Pinkney was the construction manager for the ACP owned development of Alinari at Rosemary Place, a $120 million luxury, residential condominium community located in Sarasota, Florida. He officially joined America's Capital Partners as the VP of Construction in 2007 responsible for directing new project development and the managing all capital projects and tenant improvement work. Since that time, Mr. Pinckney has bid, permitted, contracted and completed several million square feet of office, retail and restaurant space at company-owned properties.

Prior to joining ACP, Mr. Pinckney was a Senior Construction manager for COSCAN Construction Company. From 2000-2005 he worked as Project Director for Edwards Development Services where he led planning and development of several large scale luxury hotel developments in South Carolina including a Ritz-Carlton and The Sanctuary of Kiawah Island.

Mr. Pinckney holds a Bachelor of Science degree in Construction form Georgia Tech and is a licensed contractor.

Agnes M. Arcia, Senior Vice president, Corporate Treasurer
Ms. Agnes M. Arcia is a career accountant with over 23 years' experience in the commercial real estate industry where she has overseen accounting and reporting on a variety of institutional investors including pension funds, foundations, endowments, family offices and high net worth individuals. At America's Capital Partners, she oversees the day-to-day accounting function as well as corporate compliance, risk management and human resources. Ms. Arcia is also responsible for the management of financial and tax reporting for the company and its joint ventures.

Prior to joining ACP, Ms. Arcia was Controller for American Ventures Corporation and affiliated companies where she was responsible for reporting and cost controls for all company owned and third party projects. She served on the executive committee of the American Ventures Property Fund and was an active member of its asset management committee. Ms. Arcia was also involved with due diligence and financing of all AVRI Fund property acquisitions.

Ms. Arcia started her career at General Precast Corporation and was affiliated with InterAmerican Development and Management Corporation. She is a graduate of Florida International University.






THE TEAM The ACP executive team consists of seasoned commercial real estate professionals with experience in real estate brokerage, development, construction and capital markets. Our key decision makers built their careers from the ground up in commercial real estate brokerage and offer hands-on, real world expertise. Allen C. de Olazarra, Chairman and CEO Sergio G. Socolsky, Vice Chairman Jude M. Williams, President Ted Pinckney, Vice President, Construction Agnes M. Arcia, Senior Vice president, Corporate Treasurer Allen C. de Olazarra, Chairman & Chief Executive Officer Mr. Allen C. de Olazarra began his career in Florida as a Senior Director of Cushman & Wakefield of Florida, Inc. (C&W). His highly successful career there was highlighted by several awards and distinctions including receiving the C&W's prestigious "Deal of the Year" award given for the transaction judged to be the most imaginative in conception and execution on two occasions. 1993, Mr. de Olazarra left Cushman & Wakefield to form a partnership with James R. Heistand, the founder of Associated Capital Properties, Inc. At that time, Associated Capital Properties, Inc. was a full service real estate operating company based in Orlando, Florida, which provided third party real estate services, but owned no real estate. Between 1993 and 1997, Associated Capital Properties, Inc. acquired over 80 office properties throughout the state aggregating over 6,500,000 square feet and comprising the largest portfolio of office properties controlled by a single entity in the State of Florida. Associated Capital Properties, Inc. merged with Highwoods Properties, a real estate investment trust, on October 1, 1997, in a transaction valued at $622 million. Mr. de Olazarra stayed on with Highwoods Properties for eight months after the merger as Vice President of Acquisitions and Development in Florida. On June 1, 1998, Mr. de Olazarra became co-founder, Chairman and Chief Executive Officer of America's Capital Partners (ACP). In the first year of operation, ACP acquired over 3,200,000 square feet of office properties in South Florida, 1,000,000 square feet of community shopping centers throughout Florida and land entitled for the development of 3,000,000 square feet of suburban office buildings in Florida and Northern Virginia. From there, Mr. de Olazarra led his team in the acquisition and development of an additional 14,000,000 square feet of commercial property. Mr. de Olazarra is a native of Miami and is active in the South Florida community. He recently served as the Vice Chairman on the Board of Directors for the Children's Home Society Foundation. Mr. de Olazarra has also established two private foundations, one providing educational opportunities for underprivileged children and another providing transitional housing for homeless women with children. Mr. de Olazarra is a Licensed Real Estate Broker, and a frequent guest speaker at real estate and financial industry events. He graduated with a Bachelor of Arts Degree in English from the University of Virginia where he currently teaches as an adjunct professor of real estate. *Sergio G. Socolsky, Vice Chairman* Mr. Sergio G. Socolsky serves as Vice Chairman of America's Capital Partners (ACP) headquartered in Miami, Florida. With over 25 years of vast domestic and international real estate investment, development and construction experience, Mr. Socolsky brings tremendous knowledge and depth from both a capital market and real estate perspective. He is responsible for acquisitions, capital formation and development for ACP. He has spearheaded the company's efforts in the development of self-storage and high-rise residential projects. During his tenure at ACP, Mr. Socolsky has been instrumental in the acquisition and disposition of over $2.5 billion in commercial properties. Prior to joining ACP, Mr. Socolsky was Executive Director and Principal of Sococia S.A. from 1983 until 2000, a construction and development company based in Buenos Aires, Argentina. Established in 1958, the company grew to employ as many as 1200 people. His responsibilities included overseeing the development of projects throughout the country, acquisitions and dispositions, and the company's financial planning. During 1988, he was responsible for the involvement of the company in country debt swap projects in Argentina, Chile and the Dominican Republic, aggregating over $250 million. Mr. Socolsky co-founded and acted as CEO of Valle de Aminga S.A. from 1992 until 2000, an olive grove concern located in the province of La Rioja Argentina with 650 acres of olive groves under management. Mr. Socolsky graduated from the University of Miami with a Bachelor's degree in Finance. *Jude M. Williams, President* Mr. Jude M. Williams is President of America's Capital Partners and directs property operations and leasing activities through its operating company, ACP Realty Services. He is a member of the investment committee and oversees underwriting and due diligence for all of the firm's office building acquisitions. Mr. Williams is a licensed real estate broker in the states of Florida, Georgia, Texas and the Commonwealth of Virginia. Mr. Williams began his career in the Houston office of Cushman Realty Corporation, where he specialized in tenant representation from 1978 through 1983. From 1983 to 1987, he was Director of Marketing in the office building division of Don R. Mullins Interests, a major Houston-based privately held office building investment and development firm. Prior to joining America's Capital Partners, Mr. Williams was President of American Ventures Realty Corporation and Director of its investment management affiliate, American Ventures Realty Investors, Inc. (AVRI) where he co-chaired the investment committee and headed the asset management committee. AVRI's first institutional real estate fund launched in 1992, AVP Fund-I, performed among the top of all U.S. closed-end real estate funds, with a 22.85% annualized time-weighted total return to investors during its eight-year life. At American Ventures Realty Corporation, Mr. Williams directed the acquisition, asset management, leasing and property management divisions where he designed and implemented leasing and operating strategies for over 45 separate office and retail center properties, comprising over 6.2 million square feet of space. Mr. Williams is a graduate of the University of Texas, School of Business. *Ted Pinckney, Vice President, Construction* Mr. Ted Pinckney's association with America's Capital Partners (ACP) began well before he joined the firm. Mr. Pinkney was the construction manager for the ACP owned development of Alinari at Rosemary Place, a $120 million luxury, residential condominium community located in Sarasota, Florida. He officially joined America's Capital Partners as the VP of Construction in 2007 responsible for directing new project development and the managing all capital projects and tenant improvement work. Since that time, Mr. Pinckney has bid, permitted, contracted and completed several million square feet of office, retail and restaurant space at company-owned properties. Prior to joining ACP, Mr. Pinckney was a Senior Construction manager for COSCAN Construction Company. From 2000-2005 he worked as Project Director for Edwards Development Services where he led planning and development of several large scale luxury hotel developments in South Carolina including a Ritz-Carlton and The Sanctuary of Kiawah Island. Mr. Pinckney holds a Bachelor of Science degree in Construction form Georgia Tech and is a licensed contractor. *Agnes M. Arcia, Senior Vice president, Corporate Treasurer* Ms. Agnes M. Arcia is a career accountant with over 23 years' experience in the commercial real estate industry where she has overseen accounting and reporting on a variety of institutional investors including pension funds, foundations, endowments, family offices and high net worth individuals. At America's Capital Partners, she oversees the day-to-day accounting function as well as corporate compliance, risk management and human resources. Ms. Arcia is also responsible for the management of financial and tax reporting for the company and its joint ventures. Prior to joining ACP, Ms. Arcia was Controller for American Ventures Corporation and affiliated companies where she was responsible for reporting and cost controls for all company owned and third party projects. She served on the executive committee of the American Ventures Property Fund and was an active member of its asset management committee. Ms. Arcia was also involved with due diligence and financing of all AVRI Fund property acquisitions. Ms. Arcia started her career at General Precast Corporation and was affiliated with InterAmerican Development and Management Corporation. She is a graduate of Florida International University.