Arthur Wong, B.Sc., P.Eng. Managing Director - Chief Executive Officer

Mr. Wong is Managing Director - Chief Executive Officer of the General Partner. He was a co-founder of Genesis Land Development Corp. ("Genesis"), an Alberta based real estate development company that is publicly traded on the TSX. Between 1992 through 1997, various predecessor companies of Genesis sold undivided interests in fifteen parcels of land, raising approximately $43,000,000 from the sale of over 2,000 undivided interests. As a result, Genesis acquired over 4,400 acres of residential development land in 11 different parcels and developed and sold approximately 3,000 single family lots, built approximately 300 residential homes and is currently developing several commercial centres. Mr. Wong served as a senior executive officer and director of Genesis from its inception in 1992 until April 2008.

Mr. Wong is a Professional Engineer (Alberta) and holds a Bachelor of Science degree (Mechanical Engineering - Cooperative Program) from the University of Alberta

Jeffery H. Larson, B.A., LLB. - Managing Director - Business Development

Mr. Larson is Managing Director - Business Development for the General Partner. He has nearly 20 years experience as a commercial real estate lawyer in Alberta and was involved for eight years in senior management with one of Alberta's largest land development companies, with responsibilities that included strategic planning, multi-million dollar property acquisitions and divestitures, complex development financings and real estate based equity financings.

Most recently, Mr. Larson led the real estate department of the Calgary office of the national law firm Miller Thomson LLP, including acting as Calgary counsel for Canada's largest land developer and home builder.

Mr. Larson holds the degrees of Bachelor of Arts from the University of Calgary and Bachelor of Laws from the University of Saskatchewan and is a member of the Law Society of Alberta.

Grant Sardachuk, B. Comm, MBA - Managing Director - US Operations

Mr. Sardachuk is a Director of the General Partner and currently the Managing Partner of Wild Rose Investments, LLLP, a privately owned real estate merchant bank based in Scottsdale, Arizona, and a Managing Partner of Centurion Holdings Ltd., a Calgary, Canada based family owned real estate merchant banking company, both positions he has held since 1994. From 1986 to 1994, Mr. Sardachuk successively held several senior executive positions in various publicly held subsidiaries of Brookfield Asset Management Inc., a multi-billion dollar Toronto, Canada based investment company and merchant bank. During his tenure, he served in senior executive capacities in several Brookfield subsidiaries including Hees International Bancorp Inc. (Managing Partner - Real Estate), Carena Development Ltd. (a real estate merchant banking and investment company), BCE Development Corporation, Brookfield Development Corporation and Coscan Development Corporation. These corporations were majority owned or controlled by Brookfield and were largely involved in merchant banking, real estate investment and development and financial services. From 1983 to 1986, Mr. Sardachuk was employed by Citibank Canada in its Resource Banking Group, a corporate finance arm of Citibank serving the natural resource industries.

Wild Rose Investments, LLLP and its affiliated Canadian company, Centurion Holdings are and have been involved in numerous operating businesses and investments, with a particular emphasis on the real estate industry. Mr. Sardachuk has taken an active role in several investee companies, both as a member of the board of directors and as a consultant or interim executive.

During the tenure of his career, Mr. Sardachuk has been directly involved in real estate financing and investment transactions amounting to over $1.5 billion, including debt restructurings and property acquisitions of over $500 million. Additionally, he has been involved in various non-real estate corporate/partnership financings (both debt and equity), in excess of $500 million.

Mr. Sardachuk holds the degrees of Bachelor of Commerce degree from the University of Calgary and Master of Business Administration from New Mexico State University.

William DeJong, B.A., LLB., MBA - Trustee

Mr. DeJong has been with Fraser Milner Casgrain LLP, a national Canadian law firm since April 2006 and is a Trustee of the Fund. Prior thereto, he was President of Diversified Value Inc., a private company specializing in merchant banking, strategic planning, financial engineering and direct investment. From 1987 to 2001, Mr. DeJong was a Partner and a Managing Partner of Ballem MacInnes (now Gowling LaFleur Henderson LLP), specializing in the areas of securities and corporate finance. He has over 26 years of experience in advising emerging companies on corporate structure, strategic and corporate finance matters. Mr. DeJong has been a director of numerous public companies listed on the TSX, TSX Venture Exchange and American Stock Exchange.

Mr. DeJong holds the degrees of Bachelor of Arts from the University of Calgary, Bachelor of Laws from the University of Victoria and Masters in Business Administration from the International University of Monaco, and is a member of the Law Society of Alberta.

Eugene Chen, B.Sc, LLB. - Trustee

Mr. Chen is currently a Partner in the securities, corporate finance and mergers & acquisitions group with Gowlings Lafleur Henderson, a national Canadian law firm and Trustee of the Fund.

He has over 14 years of experience in advising emerging and growth oriented companies on corporate finance, mergers and acquisitions and securities matters. Mr. Chen has acted for numerous real estate focused issuers involved in using equity capital for project development and provided advice on corporate and transactional structure, capital financing and corporate governance. He has been a director and/or officer of numerous public and private companies.

Mr. Chen holds the degrees of Bachelor of Science from the University of Alberta and Bachelor of Laws from the University of British Columbia and is a member of the Law Society of Alberta.

Daniel H. Silvester, B. Comm, C.A. - Senior Business Advisor

Mr. Silvester is Senior Business Advisor to the Fund. He is a Chartered Accountant and real estate advisor with over 28 years of experience in all areas of real estate, including strategic planning, special projects, acquisitions and dispositions, leasing, operations and financing. Mr. Silvester has been a senior executive with two major public North American real estate companies, Trizec Corporation and Markborough Properties Inc., and most recently was employed by Brookfield Financial Real Estate Group. He has served as an advisor to some of North America's largest real estate and financial companies including Great West Life, Bank of Montreal, Brookfield Development Corporation, Genesis Land Development Ltd., TransCanada Corporation and Bentall Properties.

Over the course of his involvement in the real estate sector, Mr. Silvester has been directly involved in real estate acquisitions and dispositions throughout Canada and the United States totaling approximately $1.0 billion, with respect to properties such as office buildings, regional shopping centers, industrial complexes and apartment portfolios. Furthermore, he has been a director of a publicly traded real estate development company and a partner in a private land development company and house builder.

Mr. Silvester holds a Bachelor of Commerce (with Distinction) degree from the University of Saskatchewan and is a member of the Institute of Chartered Accountants (Alberta).

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