Harry

Alpine Residential

Alpine Residential, which is a venture comprised of Alpine Real Estate Group and Beachwold Residential, who are both headquartered in the same office in Manhattan, with management offices in Dallas, Texas and Jacksonville, Florida. The principals of Alpine Real Estate Group are Todd Schefler and William (Bill) Rosato. Todd and Bill have developed over 2,000 residential units, over 500,000 SF of retail, 140 acres of parks and open space, and over 900,000 SF of industrial and office: in excess of $2.0 billion in development over the last 30 years for large institutions including Tarragon (NASDAQ), Lennar (NYSE) and Catellus (NYSE)/TPG (a $70 billion private equity firm), and for their own account more recently. William Rosato received his BA and Masters in Architecture from the University of Pennsylvania. Todd Schefler also attended the University of Pennsylvania where he received a BA in Natural Science/Astrophysics and an MBA from the Wharton School. Beachwold (http://www.beachwold.com) and its principals have built, owned, and managed multifamily properties for over 40 years. Beachwold controls 66 properties and 15,000 multi-family units in Connecticut, Texas, Florida, Georgia, Virginia, New Jersey, and Tennessee. The principals of Beachwold are Bill Friedman and Gideon Friedman. Bill Friedman received a BA from Brandeis and a law degree from Columbia University. Gideon Friedman received a BA from Brown University in Urban Studies. Beachwold has a balance sheet with $1.7 billion in assets. The principals in Alpine Real Estate Group and Beachwold have been working together, in different capacities, for 20 years, since January 2000. Alpine is currently developing over 1,500 multifamily units in New Jersey, New York, and Connecticut. Beachwold owns and operates over 4,400 units in CT, with a regional headquarters in New Haven.