Harbor Group International

ORIGINATOR PROFILE

The Sponsor is an affiliate of and is managed by Harbor Group International. HGI is a leading global real estate investment and management firm with $19B in real estate assets under management. HGI invests in a well-diversified portfolio consisting of 467 assets with 63,000 multifamily units and 4.9M SF of commercial space. HGI was founded in 1985 and has approximately 1,400 employees worldwide who execute on their main business areas: acquisitions, dispositions, asset management, construction, leasing, and property management. As of March 31, 2022, HGI has realized 375 investments with a Net IRR of 16.00% and a Net Equity Multiple of 1.55x.

Management

Jordan E. Slone – Chairman & CEO

Jordan E. Slone serves as Chairman and Chief Executive Officer and a member of the Investment and Credit Committees. Prior to forming HGI in 1985, he was co-founder and Vice President of International Spring Corporation, a Portsmouth, Virginia manufacturer of inner box springs for the mattress industry. The Slone family sold International Spring to Leggett and Platt, Inc., a Fortune 500 company, in 1986.

T. Richard Litton, Jr. – President

T. Richard Litton, Jr. serves as the President of HGI and oversees day-to-day operations of the company. Mr. Litton chairs the HGI Investment and Credit Committees and is a member of HGI’s Executive Committee and HGMC Operations Committee. In addition, he manages HGI’s Transactions Group and is involved in institutional capital-raising efforts. Before joining HGI in 2004, Mr. Litton was a corporate law partner at Kaufman & Canoles, one of the largest law firms in Virginia. His practice focused on negotiating and structuring mergers & acquisitions, securities offerings, and venture capital/private equity financing for privately held and public companies. Mr. Litton graduated with distinction from the University of Virginia with a bachelor’s degree in foreign affairs and earned a J.D. from its School of Law. He serves on the boards of directors of Tidewater Friends of Foster Care and ACCESS College Foundation, and the board of visitors of Eastern Virginia Medical School.

Saul Lubetski – Vice Chairman

Saul Lubetski serves as the Vice Chairman of HGI and is responsible for all aspects of building and maintaining relationships with HGI’s worldwide network of institutional, corporate, and high-net-worth investors, and is a member of HGI’s Executive, Investment and Credit Committees. Additionally, he oversees investor relations and is responsible for strategic relationships with capital sources. Mr. Lubetski joined HGI in 2000 from Salomon Smith Barney Investment Banking where, as Vice President of Global Real Estate and Lodging, he worked on numerous financings and mergers & acquisitions. Previously, he was a tax lawyer at Skadden, Arps, Slate, Meagher & Flom, where he worked on mergers & acquisitions and financial products. Mr. Lubetski graduated cum laude from Yeshiva University with a B.A. in economics and earned a J.D. and an L.L.M. in taxation from New York University School of Law.

Carla R. Stoner – Chief Financial Officer

Carla R. Stoner serves as the Chief Financial Officer and is responsible for directing HGI’s financial policies and strategies and oversees the reporting, accounting, information technology, legal, compliance, asset management, human resources, tax, and treasury functions. She is a member of HGI’s Executive, Investment and Credit Committees and HGMC’s Operations Committee. Ms. Stoner joined HGI in 2012. Previously, she was Executive Vice President and Chief Financial Officer of CW Financial Services, a commercial real estate firm whose products and services included special servicing, investment sales, mortgage banking, investment management, property management, and research and consulting. Prior to that, she held executive positions with Olympus Real Estate Partners and AIMCO and was a senior auditor with Touche Ross. Ms. Stoner graduated from Virginia Tech, where she earned a B.S. in accounting.

Jay Zwiebel - Executive Managing Director

Jay Zwiebel serves as an Executive Managing Director of HGI and is a member of HGI’s Executive, Investment and Credit Committees. He works extensively with HGI’s overseas institutional investors and is actively involved in the company’s non-U.S. investment initiatives. Mr. Zwiebel joined HGI in 2003 from Volovelsky, Dinstein, Sneh & Co., a law firm in Herzliya, Israel, where he was a partner. He represented high-tech companies and venture capital funds and focused on venture capital investments, mergers & acquisitions, securities, and corporate law. Prior to practicing law, Mr. Zwiebel was a consultant at Meitav Corporate Finance Ltd., where he prepared due diligence reports and valuations for private and public companies. Mr. Zwiebel graduated cum laude from Yeshiva University with a B.A. in economics and received his law degree from Bar Ilan University. He was a member of the Israeli Bar Association.

Robert S. Friedman - President of Harbor Group Management Co., LLC (HGMC)

Robert Friedman serves as president of Harbor Group Management Co. (HGMC). He is responsible for day-to-day operations of HGI’s multifamily and commercial assets, and is a member of HGI’s Executive, Investment and Credit Committees and HGMC’s Operations Committee. He has been a principal with HGI since joining the firm in 1989. Mr. Friedman earned a degree in business administration from Hobart College. He is a board member of the National Multifamily Housing Council and serves on the Norfolk Board of Directors of Towne Bank.

Matt Jones, CFA - Director of Acquisitions

Matt Jones serves as Managing Director of HGI and focuses on developing and implementing HGI’s investment strategies in the direct equity, and real estate debt sectors. He oversees the Transactions Group in sourcing investment opportunities, investor communication, negotiating contracts, managing the due diligence process, and closing transactions. In addition, Mr. Jones is a member of HGI’s Executive and Investment Committees. He joined HGI in 2002 from the investment banking division of Legg Mason Wood Walker. Mr. Jones graduated summa cum laude from Virginia Tech with a degree in finance. He is a former board member and Chairman of the Program Committee of the Baltimore CFA Society.

Lane Shea - Managing Director

Lane Shea serves as Managing Director of HGI and focuses on all aspects of capital transactions, particularly mortgage loan financing and property dispositions. Ms. Shea is a member of HGI’s Executive, Investment, and Credit Committees. Prior to joining HGI in 2000, Ms. Shea worked at CB Richard Ellis in property valuation and underwriting for various asset types. She graduated magna cum laude from The American University with a B.S. in business administration and economics.

Christopher R. Gruszczynski - Chief Legal Officer

Christopher R. Gruszczynski serves as Managing Director and Chief Legal Officer of HGI. In his role, he provides strategic and legal advice across the firm and oversees legal, compliance, and risk functions. He is also a member of HGI’s Executive, Operations, and Cybersecurity Committees. Prior to joining HGI in 2022, Mr. Gruszczynski served as Deputy General Counsel at Citadel and Apollo Global Management. Prior to becoming in-house counsel, he was a senior attorney at Sullivan & Cromwell LLP and Weil, Gotshal & Manges LLP specializing in private equity, mergers and acquisitions, and capital markets transactions. Mr. Gruszczynski earned a B.A. in Economics and Sociology from Cornell University, an M.B.A. from The MIT Sloan School of Management, and an M.Sc. from The London School of Economics. He received his J.D. from Cornell Law School. Mr. Gruszczynski is an Executive Committee board member and General Counsel of the MIT Sloan Club of New York.

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