MANAGEMENT

HENRY J.H. BANDET
Founder and President
Henry Bandet founded HG Capital in 1995 and serves as its President. He has 25 years of real estate development and investment experience, including 15 years focused on opportunistic joint venture real estate transactions in the western U.S. At HG Capital, Mr. Bandet has originated and structured more than $1.5 billion of value-added commercial and residential real estate investments. Prior to founding HG Capital, he was President of the U.K./U.S. real estate investment and operating businesses established by his father in 1946. Mr. Bandet graduated from Stanford University with a B.A. degree in Economics and a B.S. degree in Applied Earth Sciences, both with honors.

Tel. (650) 322-3400 Ext 201

ROBERT R. ALLEN, JR.
Chief Executive Officer
Robert Allen is the CEO and co-owner of HG Capital. Since 1995, he has identified, structured, and negotiated over 50 transactions for the HG Capital funds, representing projects with an aggregate value of more than $1 billion in over 10 different product types. Previously, Mr. Allen was employed by Hunting Gate Investments, Inc. for eleven years. During that period, he negotiated over $175 million of transactions. Earlier, he served as a senior investment analyst with Catalyst Technologies, a venture capital firm. Mr. Allen holds a California real estate broker's license. He graduated from Santa Clara University with a B.S. degree in Economics.

Tel. (650) 322-3400 Ext 203

ANDREW J. JOBST
Executive Vice President
Andrew Jobst is the Executive Vice President and a Principal of HG Capital. Since joining HG Capital in 1997, Mr. Jobst has underwritten and structured over 40 investments with over 20 different project sponsors for a total completed value in excess of $1 billion. Mr. Jobst holds a B.S. degree in Biology, a B.A. degree in Economics and an M.S. degree in Engineering Economic Systems and Operations Research from Stanford University.

Tel. (650) 322-3400 Ext 205

The senior executive team is supported by a group of highly capable individuals in the areas of finance, operations, and accounting. The management team provides thorough analysis, research, and execution for each of the company's endeavors.