GREENLAKE ASSET MANAGEMENT - Key Persons

Job Titles:

• Vice President, Originations

Adam Frank has extensive experience in the origination of CRE loans and NPL investments. Most recently, he was an Associate Director at Ladder Capital. Adam began his career as an equity research associate at Barclays Capital. He received a BS in Finance from the Leonard N. Stern School of Business at New York University.

Job Titles:

• Controller

Amy Bertolini brings over 24 years of experience in public accounting in audit, tax and as a consulting Controller and CFO, most recently at HKG, LLP in Pasadena. Amy has managed clients in various industries including not-for-profit, distribution/manufacturing, real estate and private equity. Amy is a certified public accountant and received her BS in accounting from California Polytechnic University, Pomona.

Job Titles:

• Associate, Operations

Anamaria Rivera has been an integral part of GreenLake's team since 2018 and serves as operations associate. Prior to, she managed administration for a billing and collections firm in the healthcare industry.

Job Titles:

• General Counsel

Caroline Leritz serves as GreenLake's General Counsel, overseeing the legal affairs of the company. Prior to joining GreenLake, Caroline worked at a full-service law firm where she focused her practice in real estate, finance, and general corporate matters, and acted as GreenLake's outside general counsel. She received a BS with honors from Saint Louis University and a JD with honors from Saint Louis University School of Law.

Job Titles:

• Assistant Vice President

Danah Yoon has consulted in various industries including real estate, fine arts, and hospitality. Prior to joining GreenLake, Danah managed retail development at BMW Group for the South Korean market. Danah has a BA in Economics from Korea University and a MS in Real Estate Development from the University of Southern California.

Job Titles:

• Vice President, Investor Administration

Dave Park started his career as a wealth manager at WaMu's private bank, WM Financial. Prior to, Dave worked in middle market investment banking at KPMG Corporate Finance and Redwood Securities. He received his BA from the University of California, Santa Barbara.

Job Titles:

• Principal, Investor Relations

Joseph Sprague has worked extensively in private banking and wealth management. Joe started at Morgan Stanley and WM Financial, WaMu's private bank. Most recently, he was at Wells Fargo. He has a BA from the University of California, Santa Barbara and an MBA from Pepperdine University.

Job Titles:

• Director, Originations

Job Titles:

• Manager, Loan Servicing

Kathy Kim has been involved in loan servicing and collection since the firm's inception. Prior to, she managed administration and operations for a boutique, corporate finance advisory firm and was also operations manager for a billing and collections healthcare company. Kathy has a BA from California State University, Long Beach.

Job Titles:

• Associate

Michael Jacobs has a strong background in real estate, recently at a development firm on projects spanning the west coast and Florida. He served as a legislative analyst on Capitol Hill, as a key policy advisor to a member of the U.S. House of Representatives. Mike holds a BA in History from Cornell University and an MBA from the University of Southern California.

Job Titles:

• Manager, Accounting

Monica Rodriguez brings over 17 years of experience in both public and private accounting. She has managed the accounting departments of private and publicly traded companies in various industries including manufacturing and distribution/service. Monica is a certified public accountant and received her BS in accounting from California Polytechnic University, Pomona.

Job Titles:

• Chief Operating Officer
• Chief Operating Officer at Green

Paul Diamond worked in investment management consulting at J. William Taylor & Associates in London. He also worked at Mapleton Investments, a Los Angeles family office and has directly managed a variety of private-equity backed companies. Paul has a BA from Colby College and an MBA from the UCLA Anderson School of Management. Paul Diamond, Chief Operating Officer at GreenLake stated, "The Sponsor has a proven track record in ground-up development. He recently completed construction of hotels in Bend and Redmond and has a strong network and extensive knowledge of the local market. Given the strength of the team and the irreplaceable location, we are very enthusiastic about this project." Paul Diamond, Chief Operating Officer at GreenLake stated, "Milpitas is a significant neighborhood in the greater Silicon Valley area and its housing market serves the growing needs of the tech industry. As more and more firms require employees to return to the office or assume hybrid roles, we expect to see employee housing play a big role in this market. We have full confidence that both the borrower and neighboring communities will benefit from this increase in housing supply." Paul Diamond, Chief Operating Officer at GreenLake stated, "We believe in the sponsor's excellent track record in operating high-end hospitality and large event venues. The hotel in Cape May is an irreplaceable asset with an incredible beachfront location and difficult to obtain liquor license. The property in Randolph has great potential to fulfill a void in the market and become a key destination in the region." Paul Diamond, Chief Operating Officer at GreenLake stated, "We are excited to work with such a strong and capable Marriott franchisee team. While the borrower has a proven track record and the locations are great, traditional bank lenders were unable to complete the transaction due to continued unease about the sector. However, GreenLake sees this as a great opportunity. Demand at the airport exceeds current capacity and shows no signs of slowing. The airport is in the midst of a $2.1 billion expansion to accommodate current and projected growth, which will support strong performance at this property for years to come."

Job Titles:

• Managing Principal
• Portfolio Manager
• Managing Principal at Green

Peter Chang manages the firm's loan and investment portfolio and leads its investment mandate. Peter began his career as a financial consultant and real estate appraiser at Arthur Andersen and worked as an investment banker in the real estate group at Merrill Lynch and Insignia Financial. He has a BS from Cornell University and an MBA from Columbia Business School. Peter Chang, Managing Principal at GreenLake stated, "The borrower has a long track record in diverse commercial development throughout the Midwest. The team has a great relationship with the City of Waukee and the necessary expertise to execute and stabilize this large-scale master development. With Live Nation as a strong anchor, we are confident that KeeTown Loop will thrive in the rapidly growing West Des Moines region." Peter Chang, Managing Principal at GreenLake stated, "The completion of this project involved navigating an intricate transaction with a significant number of liens and distressed mortgages. The sponsor has an impressive track record spanning more than three decades in commercial construction and development in the Northeast. We are confident that Fountain Square will thrive with its irreplaceable location, strong market and quality tenants." Peter Chang, Managing Principal at GreenLake stated, "The Sponsor has a proven track record in hospitality. He did a fantastic job renovating and upgrading a full-service hotel in Cape May last year within six months of acquisition. With his execution, expertise and strong local network, we believe this project will become a landmark property in the heart of the Wildwood Crest community." Peter Chang, managing principal at GreenLake stated, "This was a complex transaction involving multiple parties which we were able to successfully navigate due to our extensive experience with special situation loans. The sponsor has a great track record and expertise in mall operations, and we strongly believe this team can stabilize the asset within a year." Peter Chang, Managing Principal at GreenLake stated, "The sponsor is an experienced hotel developer, owner and operator, and is a significant Marriott franchisee. He has a proven track record and we have built trust with him through prior deals. All three sites are permitted and ready for development in great locations with high barriers to entry. This deal enables the sponsor to expand his presence in the Rocky Mountain and Southwest regions." Peter Chang, Managing Principal at GreenLake stated, "This deal was complex since the hospital was divided and condominiumized into three different uses, and the condo declaration was created in parallel with GreenLake's underwriting. While GreenLake's loan was originally scheduled to close after the residential component, we were able to accommodate the borrower and close ahead of the other lender. The borrower is an experienced developer with over 30 years of experience, and we have great confidence in their team and vision in this specialized sector." Peter Chang, Managing Principal at GreenLake stated, "This property is a state-of-the-art facility, recently completed in the northeast suburbs of Atlanta. The business provides a combination of independent, assisted and memory care living, which is in high demand in the area. While traditional lenders are shying away from healthcare assets due to the ongoing COVID pandemic, we are confident in the property's strategic location, business plan and overall performance capability. GreenLake was able to cut through issues related to the litigation and ultimately structure a deal that worked for all parties. The sponsor also recently brought in a new and very strong management company that will bring the asset to its true potential." Peter Chang, Managing Principal at GreenLake stated, "While traditional lenders are still hesitant to fund hotel development projects in dense urban areas, we believe in this opportunity to fund a unique boutique hotel in a rapidly growing section of Atlanta. The demand for curated hotel experiences in the Ponce City Market area is unparalleled and will only continue to grow for both commercial and transient consumers visiting the neighborhood on work and holiday travel." Peter Chang, Managing Principal at GreenLake stated, "This was a complex transaction that required extensive coordination between iMedia and two lenders, and was closed under a tight deadline driven by a pending acquisition. Tim Peterman's leadership was pivotal to completing the transaction. GreenLake is excited to work with iMedia as we have great confidence in their team and vision." Peter Chang, Managing Principal at GreenLake stated, "We are excited to back a proven team with strong roots in the region, where they own and manage eight successful hotels. While traditional lenders remain hesitant to make new hospitality loans, GreenLake sees the opportunity to position a great product in a growing market." Peter Chang, Managing Principal at GreenLake stated, "While distressed properties pose complex challenges that lenders often shy away from, special situations are what GreenLake excels at. Our underwriting hinges on the underlying real estate asset and the sponsor's ability to execute. Our view across multiple sectors gives us the insight, experience and resources necessary to navigate and execute on these types of loans." Peter Chang, Managing Principal at GreenLake stated, "After the pandemic devastated the hospitality market, so many lenders pulled back or stopped lending in the space altogether. Our background in hospitality and view across multiple sectors gives us the insight and comfort in the future of the hospitality sector and the economy overall. We believe in both the opportunity in the Barstow market and in the management team at Hotel Investment Group, and we expect strong performance from these two amazing brands by Marriott."

Job Titles:

• Manager, Marketing

Peter Ryan started his career as a marketing and e-commerce specialist in the luxury consumer product industry. Prior to, he managed marketing for an international distribution firm and launched domestic brands in the Asian market. Peter has a BA from the University of California, Los Angeles.

Job Titles:

• Vice President, Originations

Renee Volaric has extensive experience in business development in financial services. Most recently, Renee led the national origination efforts of a bridge real estate lender. She started her career in investment management at Hartland & Co. and later worked at US Capital Partners, a middle market investment bank. She has a BA from Ursuline College.

Job Titles:

• Investor Relations Administrator

Stephanie Jimenez brings over 10 years of client service experience from a variety of industries including finance, education, healthcare and hospitality. Prior to joining GreenLake, Stephanie was a Retirement Benefit Specialist for LA County. Stephanie received her BA in Economics from California State University, Los Angeles.

Job Titles:

• Senior Advisor
• Senior Advisor to

Tom McConnell is a Senior Advisor to GreenLake, focusing on all real estate assets with a concentration on hospitality and leisure. Tom has over forty years of experience in capital markets, valuations, and consulting. Prior to joining GreenLake, Tom was Executive Managing Director of Cushman & Wakefield's US hotel transaction practice in New York. Tom has a BA from Brown University and an MPS degree from Cornell University.

Job Titles:

• Associate

Vidur Bhatia has worked in debt finance and leveraged buyouts. Prior to GreenLake, he was at Goldman Sachs in their Leveraged Finance group. He holds a BA in Business Economics from the University of California, Los Angeles.