HANOVER CAPITAL HOLDINGS - Key Persons

Job Titles:

• Managing Partner of Hanover Real Estate
• Managing Partners

Kenneth Boyle is a managing partner of Hanover Real Estate Partners. Mr. Boyle has over 25 years of experience in the field of real estate, specializing in the acquisition, disposition, refinancing and repositioning of under-performing and distressed real estate assets. He has extensive experience in a wide range of property categories, with a focus on office, retail, hotel, warehouse, residential and R&D buildings. During the course of his career, Mr. Boyle has worked on the disposition of real estate worth in excess of $1 billion to a broad range of buyers, including pension funds advisors, REITs, opportunity funds and entrepreneurs. He has completed numerous structured transactions, including cash and stock sales, Section 1031 tax-free exchanges, tax-deferred acquisitions by REITs and limited partnership roll-ups and has obtained debt and equity financing in excess of $700 million. Mr. Boyle has additionally owned and managed a portfolio of apartments for his own account. Prior to Hanover, Mr. Boyle worked for 15 years as a Senior Vice President in the Real Estate Fixed Income Group at Lehman Brothers, Inc. During his career at Lehman he was responsible for the work-out, repositioning, financing and disposition of a national portfolio of real estate assets valued at over $1.5 billion. Prior to that, Mr. Boyle was a manager in the tax department at KPMG Peat Marwick where he was responsible for the planning, supervision and review of tax and audit engagements for a variety of clients primarily in financial services and real estate industries. Mr. Boyle graduated summa cum laude from the State University of New York at Binghamton with a Bachelor's of Science in Accounting. ..

Job Titles:

• Managing Partner of Hanover Real Estate

Reed Miller is a managing partner of Hanover Real Estate Partners. With over 30 years in the commercial real estate business, Mr. Miller has extensive experience as an owner, operator and manager of office buildings, hospitality assets, warehouse, land development, retail properties, high-end golf club properties and residential development. Over the course of his career, Mr. Miller has acquired, owned and operated over $1 billion of hospitality assets and resorts, he has developed over $100 million of single family homes and purchased over $200 million of mortgages. Previously, he was a Vice President at Eastdil Realty where he specialized in the financing of office and hospitality assets. While at Eastdil Mr. Miller was also active in the restructuring of distressed real estate, placement of equity and debt financing and the disposition of real estate. Prior to joining Eastdil, Mr. Miller was a principal in a private real estate investment firm that was involved in the acquisition, leasing, and development of franchised restaurants. Mr. Miller has been responsible for the execution of real estate transactions valued in the billions of dollars. He graduated from New England College with a Bachelor of Arts in Business.