Gibraltar 1031, LLC

Team

Russell Geyser

rgeyser@gibraltar1031.com

Managing Member, Gibraltar 1031, LLC

After receiving bachelor and graduate degrees from UC Berkeley, and the University of Southern California, Mr. Geyser began his career working on large mixed use projects. In 1995 he teamed up with Excel Realty Trust, a New York Stock Exchange real estate investment trust to develop several retail projects around the country. The projects included the 168,000 square foot Northmall Centre in Tucson, Arizona; the 6 acre Wow! Store development on Sahara in Las Vegas, Nevada; multiple build-to-suit projects for The Good Guys, Blockbuster Music, Discovery Zone, Just For Feet and Staples. Through the next five years, Mr. Geyser would do over $150,000,000 of ventures with Excel.

Geyser formed Gibraltar in 2003 and began focusing on Tenant-In-Common syndication for the 1031 exchange market. He led Gibraltar's emergence as a leading tenant in common syndicator and remains dedicated to bringing only compelling properties to market in this emerging arena. Under his direction, Gibraltar has syndicated more than $300M of single and multi-tenant retail and multi-family properties throughout the United States.

Ronald Max

rmax@gibraltar1031.com

Chief Operating Officer, Gibraltar 1031, LLC

Mr. Max has been involved in real estate industry for the past 22 years and has participated in the acquisition, development and financing of over $5 billion in commercial real estate transactions throughout his career. Max was also a senior accountant with the predecessor firm to KPMG Peat Marwick. He has extensive experience with office, multi-family, single-tenant and multi-tenant retail properties. From 1988 to 1995 he held various positions with Brauvin Real Estate Funds, including Chief Financial Officer and Director of Acquisitions. Prior to joining Brauvin, he helped form a real estate advisory services company which participated in the development of a private REIT as well as other various real estate offerings and financings.

In 1995 Max joined Captec to establish a retail properties acquisition and development program. Based on the success of this program, Max became Chief Investment Officer of Captec Net Lease Realty, Inc. through its initial public offering. At Gibraltar, Max oversees a $300M portfolio of office, multi-family and retail properties. He received a B. S. Degree in Accountancy from Northern Illinois University and is a Certified Public Accountant.

Steven Willison

swillison@gibraltar1031.com

Chief Investment Officer, Gibraltar 1031, LLC

Mr. Willison joined Gibraltar in October 2005 as Chief Investment Officer where he is responsible for the company's new acquisitions and offerings. Prior to Gibraltar, Mr. Willison was employed by Captec Financial Group, Inc., most recently as Managing Director, Portfolio Management. Mr. Willison started at Captec in 1997 as a Senior Credit Analyst, and was subsequently promoted to Assistant Vice President, Sales in 1998, and Regional Vice President in 2000. He was promoted to Vice President, Special Assets in 2002, and to Managing Director, Portfolio Management in 2003. During his tenure with Captec, Mr. Willison was responsible for new business development, Sales and Portfolio Management of a $1.5 billion real estate portfolio, which was comprised primarily of single-tenant net leased restaurant properties, retail properties, and several multi-family properties. In addition, he supervised all Property Management functions for the company.

Mr. Willison attended Alma College in Alma, MI and graduated with a Bachelor of Arts in Business Administration with an emphasis in Accounting. Upon graduation, Mr. Willison was employed by Norman & Associates, a public accounting firm in Grand Rapids, MI. In 1993, Mr. Willison began a four-year commercial banking career focusing on credit analysis and business development.

Oren D. Klaff

oren@gibraltar1031.com

Director of Sales, Gibraltar 1031, LLC

Mr. Klaff has worked with Russell Geyser since 1999, and joined Gibraltar full time in 2006. He is responsible for wholesaling the company's real estate acquisitions and management of the selling group. He also serves as the company's Chief Marketing Officer and is responsible for the company’s extensive collateral portfolio and the development of NASD compliant real estate marketing.

Mr. Klaff has syndicated $83M of real estate in the tenant in common industry and oversees the marketing of a $300M real estate portfolio.

Chris R. Hernandez

chernandez@gibraltar1031.com

Director of Investor Relations, Gibraltar 1031, LLC

Jenni Tingley

jtingley@gibraltar1031.com

Director of Acquisitions, Gibraltar 1031, LLC