About Blumberg Capital Partners leadership

Philip F. Blumberg is founder and Chief Executive Officer of the Blumberg Capital Partners group of companies, including American Ventures Realty Investors, an institutional real estate investment organization ranked among the top real estate investment managers in the United States. Blumberg Capital Partners operates real estate investment funds for corporate pensions, foundations, banks and other institutional investors. In addition to equity funds, Blumberg Capital Partners operates a series of mezzanine debt funds targeting urban core projects nationally. Mr. Blumberg is Chairman of the firm's Investment Committee. Other Blumberg Capital Partners group affiliates include: American Ventures Realty Corporation, which provides commercial property management, leasing and brokerage services; and RealData Information Systems, which provides real estate market research, consulting and valuation services.

Mr. Blumberg holds memberships with the Professional Associations of: Pension Real Estate Association (PREA), National Council of Real Estate Investment Fiduciaries (NCREIF), Urban Land Institute (ULI), National Association of Industrial and Office Properties (NAIOP), Builders & Owners Management Association (BOMA) and the Institute of Real Estate Management (IREM).

Mr. Blumberg serves on the Board of Governors of the Florida Chamber of Commerce and has served on that organization's Board of Directors for ten years. He was Chairman of the Greater Miami Chamber of Commerce for the year 2000-2001. Mr. Blumberg serves on the Board of Trustees of the Council for Educational Change. Mr. Blumberg has been a member of the Florida Council of 100, made up of Florida's top 100 businessmen, appointed by the Governor and served on their Board of Directors. He was a member of the Board of Trustees of the University of Miami. He previously served on the Board of Directors of the Miami Dade Community College Foundation. Mr. Blumberg is a member of the Board of Directors of the Beacon Council, Greater Miami's economic development organization. He is also a member of the Miami Business Forum and serves on its Executive Committee. In Tampa, Mr. Blumberg is a member of the Westshore Alliance. He is Vice Chairman of the Board of Directors of the Greater Miami Foreign Trade Zone. Mr. Blumberg served on the Board of WAGES, the agency responsible for welfare reform in Florida and currently serves on the Board of Directors of the Community Partnership for Homeless. He is also a member of the Miami Dade County Climate Change Task Force.

Mr. Blumberg is a member of the Orange Bowl Committee and served on its Board of Directors. He also served as Co-Chairman of the Olympic Soccer Organization Committee of South Florida, hosting the Soccer Tournament of the 1996 Olympic Games.

Mr. Blumberg served as Chairman of the City of Miami's Botanical Gardens Selection Committee. He also served as a member of the City of Miami's Blue Ribbon Task Force on City Administration. Mr. Blumberg participated in the Joint Civilian Orientation Conference (JCOC-64) in April 2001 conducted by the U. S. Department of Defense.

He received his M.B.A. from Harvard Business School and his undergraduate degree from the University of North Carolina - Chapel Hill with Honors in Business.

Mr. Blumberg was included in the Miami Herald's feature on Miami's Power Dozen, the South Florida CEO article on The 100 Most Powerful People in South Florida and its 2005 Power Issue. For additional information, see Who's Who in America and Who's Who in Finance and Industry.