iStar Financial Inc.

Jay Sugarman is Chairman and Chief Executive Officer of iStar Financial (NYSE: SFI), a leading provider of custom-tailored capital to high-end private and corporate owners of real estate in the United States. iStar also invests in other investment areas through its European, AutoStar and TimberStar platforms, and in the leveraged finance markets through its affiliate, Oak Hill Advisors. Prior to forming iStar Financial and its predecessors, Mr. Sugarman managed private investment funds on behalf of the Burden family, a branch of the Vanderbilts, and the Ziff family. Mr. Sugarman received his undergraduate degree summa cum laude from Princeton University, where he was nominated for valedictorian and received the Paul Volcker Award in Economics, and his M.B.A. with highest distinction from Harvard Business School, graduating as a Baker Scholar and recipient of the school’s academic prizes for both finance and marketing.

Jay Nydick was appointed president of iStar Financial on November 1, 2004. Mr. Nydick has primary responsibility for identifying, evaluating and executing strategic expansion opportunities for the Company. Previously, Mr. Nydick spent 14 years at Goldman, Sachs & Co. He most recently served as a Managing Director based in Hong Kong heading the Corporate Finance Group for non-Japan Asia, and as a member of the Products and Financial Sponsors Group based in New York. Prior to his assignment in Asia, Mr. Nydick was in Goldman's Real Estate Investment Banking Group, co-headed the firm's Lodging and Gaming Business and spent time in the Debt Capital Markets and Derivatives Group. During his career, he has been involved in a broad range of transactions including mergers, acquisitions, debt and equity financings, LBOs, and the development of innovative products across many different markets in the world. Mr. Nydick holds a bachelors degree from Cornell University where he graduated as a Presidential Scholar and a master's in business administration from Columbia University.

Citadel Realty Group, LLC, a New York based boutique investment bank specializing in advisory work and debt and equity placements for all forms of commercial real estate properties and companies in North America and Europe. Prior to forming Citadel, Mr. Abrams was a managing director at Donaldson, Lufkin and Jenrette, where he was responsible for the hospitality and leisure practice, focusing on debt originations, equity offerings and advisory assignments to public and private companies in that area. Before DLJ, Mr. Abrams was a managing director and the head of the Hospitality Finance Group of Nomura Capital. While at Nomura Capital, Mr. Abrams led the financing of over $6.5 billion in the hospitality sector and over $600 million in the office, multifamily and retail sectors. Before joining Nomura Capital in 1993, Mr. Abrams had been a partner at Rosenman & Colin, a major New York City law firm. He received an LL.M. in Taxation from the New York University School of Law; a JD from the National Law Center of the George Washington University, where he was editor-in-chief of the Law Review; and a B.S. in Economics from the Wharton School of the University of Pennsylvania. He has served as a member of the American Hotel & Lodging Association's Industry Real Estate Finance Advisory Council (IREFAC) and the ULI's Hotel Development Council.

David M. DiStaso has served as Chief Accounting Officer of iStar Financial since June 2008. Mr. DiStaso is responsible for managing the Company’s accounting and tax departments, including compliance with generally accepted accounting principles and REIT requirements, internal and external financial reporting and the maintenance of a sound internal control environment. Mr. DiStaso previously spent 11 years with The CIT Group, most recently as Chief Financial Officer of the Consumer Finance Division. He spent the first 10 years of his career in public accounting with KPMG, serving as a Senior Manager within the audit group, providing audit and consulting services to clients within the financial services industry. Mr. DiStaso received a bachelor’s degree from Rutgers College and is a Certified Public Accountant.

Nina Matis currently serves as Chief Legal Officer and Chief Investment Officer of iStar Financial. She assumed her current position after service as Executive Vice President since 1999 and as General Counsel of iStar Financial (and its predecessor) since 1996. Ms. Matis is responsible for legal, tax, structuring and regulatory aspects of iStar Financial`s operations and investment and financing transactions. From 1984 through 1987, Ms. Matis was an adjunct professor at Northwestern University School of Law where she taught real estate transactions. She is a member of the American College of Real Estate Lawyers, Ely Chapter of Lambda Alpha International, the Chicago Finance Exchange, the Urban Land Institute, REFF, the Chicago Real Estate Executive Women, The Chicago Network and The Economic Club of Chicago. She was recently named by the International Who`s Who of Business Lawyers as the World`s Leading Real Estate Attorney. Additionally, in 2005 she was selected as a LawDragon 500 Leading Lawyer in America as well as being listed for the third consecutive year in Chambers USA as one of America`s Leading Lawyers for Business. Ms. Matis received a B.A. degree with honors from Smith College and a J.D. degree from New York University School of Law.

Timothy J. O'Connor. Mr. O'Connor has been our President since November 2008. Mr. O'Connor has also been the President of the Manager since November 2008. Prior to assuming this position, since June 2008, Mr. O'Connor worked as a consultant. Previously, Mr. O'Connor had served as Chief Operating Officer of iStar Financial Inc., a publicly traded real estate investment trust focused on the financing of commercial real estate. Mr. O'Connor served as Chief Operating Officer from March 1998 to June 2008. While at iStar Financial, Mr. O'Connor was responsible for developing and managing iStar Financial's risk management and due diligence operations, participating in the evaluation and approval of new investments, coordinating iStar Financial's information systems and managing the post-acquisition integration of several corporate acquisitions. Previously, Mr. O'Connor was a Vice President of Morgan Stanley & Co. responsible for the performance of over $2 billion of assets acquired by the Morgan Stanley Real Estate Funds. Prior to joining Morgan Stanley, Mr. O'Connor was a Vice President of Greystone Realty Corporation. Previously, Mr. O'Connor was employed by Exxon Co. USA in its real estate and engineering group. Mr. O'Connor earned a B.S. in Engineering from the United States Military Academy at West Point in 1979 and an M.B.A. from the Wharton School of the University of Pennsylvania in 1989. Mr. O'Connor is 53 years old.

Barb Rubin has served as President of iStar Asset Services, Inc. since September 1998 in our Hartford-based loan asset management and servicing operation. She has more than 20 years of real estate investment experience, including loan and real estate equity origination, portfolio management, loan servicing, and capital markets activities. Prior to joining iStar Financial, Ms. Rubin was President and Chief Operating Officer of Phoenix Realty Securities, Inc., a real estate advisory operation that managed portfolios of real estate securities (including mortgage loan investments and real estate equity securities). She is currently Chair of the Connecticut Health and Education Facilities Authority. Ms. Rubin received a B.A. from Williams College and an M.B.A from the University of Connecticut.

Barclay G. Jones III has served as Executive Vice President - Investments of iStar Financial since March 2000, focusing on the Company`s corporate finance and leasing business. Prior to joining iStar Financial, Mr. Jones was a principal of ACRE Partners LLC, a privately held firm focused on providing public and private corporations with highly-structured, value-added financing solutions for their corporate real estate facilities. Prior to that, Mr. Jones served in a variety of capacities, including vice chairman and chief acquisitions officer, for W.P. Carey & Co., Inc. from 1982 to 1998. During that period, Mr. Jones was responsible for originating in excess of $2 billion of sale-leaseback financings and over $1 billion of mortgage placements. During his tenure at W.P. Carey, the firm grew from fewer than 10 employees to over 70, and from approximately $100 million in assets to over $2.5 billion. Mr. Jones holds a B.S. degree in economics from of the Wharton School of the University of Pennsylvania.

Chase Curtis has served as Executive Vice President – Credit of iStar Financial since January 2005. He assumed his current position after serving as Senior Vice President – Credit since June 2001. He is responsible for coordinating the initial and on-going underwriting of corporate credit risk, with a particular emphasis on corporate tenant risk assessment. He joined iStar Financial in 2001 from Bank of America following a 16-year career in credit risk management and structured corporate finance. Immediately before joining iStar, Mr. Curtis was the Chief Credit Officer of Bank of America Commercial Finance responsible for its credit approvals, risk policy and risk process controls. Prior to that, he was on a three-year assignment in Hong Kong as an executive credit risk review officer overseeing portfolio, transactional, business and overall strategic risk assessment across Asia. He began his financial services career in 1985 with Continental Illinois National Bank initially as a specialist lender in mining, construction, natural resource and project finance and subsequently highly leveraged corporate finance. Mr. Curtis holds an M.S. from the University of Arizona and a B.S. degree with high honors from Bates College. He is a Chartered Financial Analyst.

Jim Burns serves as Chief Financial Officer of iStar Financial. Prior to assuming this position, he served as Treasurer of iStar Financial since 2003. Mr. Burns is responsible for managing all of iStar Financial's capital raising initiatives, financial reporting and investor relations activities. He also supervises all other finance, treasury and accounting functions. Prior to joining iStar Financial, Mr. Burns was Global Treasurer of Cantor Fitzgerald. He also worked for Morgan Stanley in Hong Kong as Treasurer of the Asia-Pacific region and in New York as Treasurer of the Americas region. Previously Mr. Burns held various positions in capital markets, capital planning and cash management at PepsiCo, Inc. He received his M.B.A. in Finance from Columbia University’s Graduate School of Business and his A.B. in Economics from Harvard College.

Michelle MacKay has served as Executive Vice President – Investments of iStar Financial since February 2003, and Head of Corporate Fixed Income since April 2005. Ms. MacKay is responsible for direct real estate origination, working with real estate opportunity funds as well as Oak Hill Advisors. She joined iStar Financial from UBS Warburg, where she was an Executive Director in commercial real estate and a senior member of the commercial real estate approval committee. She originated and closed over $1 billion of first mortgage and mezzanine real estate transactions while at UBS. Ms. MacKay was also responsible for mezzanine structuring and distribution. From 1996 to 1998, Ms. MacKay was Vice President at Chase Bank where she was part of a two-person team hired to establish the commercial mortgage-backed securities trading desk and real estate products distribution. Prior to Chase, Ms. MacKay created and managed a $1.8 billion portfolio of real estate investments at The Hartford (HIMCO). Her responsibilities included analyzing and investing in CMBS, CMBS IO, unsecured REIT debt, FNMA multifamily, credit tenant lease structures and junk rated real estate companies. Ms. Mackay holds an M.B.A. from the University of Hartford and a B.A. from the University of Connecticut.

R. Michael Dorsch III has served as Executive Vice President - Investments of iStar Financial since March 2000. Prior to joining iStar Financial, Mr. Dorsch was a principal of ACRE Partners LLC, a privately held firm focused on providing public and private corporations with highly-structured, value-added financing solutions for their corporate real estate facilities. Mr. Dorsch was a founder and managing partner of Corporate Realty Capital, a Boston-based real estate investment bank from 1990 to 1997. CRC was formed as an affiliate of Corporate Property Investors and focused on originating, structuring and financing net lease transactions. Prior to the formation of CRC, Mr. Dorsch was a partner in a Boston-based real estate development, ownership and management concern. From 1984 to 1986, Mr. Dorsch was a vice president of Winthrop Financial Associates, a private real estate syndication firm. Mr. Dorsch graduated with a Sc.B. in Mechanical Engineering from Brown University and has an M.B.A. from Harvard Business School.

Roger M. Cozzi. Mr. Cozzi has been our Chief Executive Officer since October 2008. Mr. Cozzi has also been the Chief Executive Officer of our former external manager, GKK Manager LLC, or the Manager, since October 2008. Prior to assuming this position, since March 2008, Mr. Cozzi worked as a consultant. From March 2007 to February 2008, Mr. Cozzi was a Managing Director of Fortress Investment Group, LLC, a hedge fund. Prior to working at Fortress Investment Group, Mr. Cozzi had served as Executive Vice President Investments and Chief Investment Officer of iStar Financial, Inc., a publicly traded real estate investment trust focused on the financing of commercial real estate. At iStar Financial, Mr. Cozzi served as Chief Investment Officer from January 2006 to February 2007, Executive Vice President Investments from January 2002 through February 2007 and as a Senior Vice President Investments from 1998 to January 2002. While at iStar Financial, Mr. Cozzi was responsible for the origination of structured financing transactions, and he has successfully closed over $3 billion of first mortgage, mezzanine and corporate finance investments. From 1995 to 1998, Mr. Cozzi was an investment officer of Starwood Mezzanine Investors, L.P. and Starwood Opportunity Fund IV, two private investment funds that specialized in structured real estate finance and opportunistic equity investments. Prior to joining Starwood, Mr. Cozzi spent three years at Goldman, Sachs & Co. While at Goldman Sachs, he spent two years in the real estate department, where he focused on securitizing and selling investment grade and non-investment grade securities backed by pools of commercial mortgages, evaluating performing commercial mortgage loans for potential principal investment by the Whitehall funds and consulting large corporate tenants on lease alternatives. After two years in real estate, Mr. Cozzi transferred into the investment management group, where he worked on several merger transactions, created a conduit to lend directly to mutual funds and helped create a vehicle to securitize 12b-1 financing fees. Mr. Cozzi earned a B.S. in Economics from The Wharton School of the University of Pennsylvania in 1992. Mr. Cozzi is 38 years old.

Steven R. Blomquist has served as Executive Vice President - Investments of iStar Financial since January 2003. Prior to that he was Senior Vice President - Investments since September 1998. Mr. Blomquist is responsible for the origination and acquisition of new financing with borrowers in the Phoenix Home Life-serviced mortgage loan portfolio and related loan correspondents. He also shares responsibility in managing several of iStar Financial relationships with financial institutions and other loan correspondents. Mr. Blomquist has over 16 years of loan origination and investment management experience. Previously, Mr. Blomquist was executive vice president and chief investment officer of Phoenix Realty Securities, a Phoenix Home Life subsidiary specializing in providing real estate securities investment advisory services. Mr. Blomquist directed the origination of over $1.5 billion of mortgage loans and maintains strong correspondent and borrower relations. Prior to his current position, Mr. Blomquist was responsible for the debt and equity management of $750 million Phoenix Home Life portfolio in the Western United States. Mr. Blomquist is a member of the mortgage Bankers Association, and received both his bachelors degree and an M.B.A. from the University of Connecticut.

Andrew G. Backman has served as Senior Vice President – Investor Relations and Marketing of iStar Financial since January of 2008. Prior to that, he served as Vice President of the same office since December 2004. Mr. Backman is responsible for directing all efforts focused on positioning the Company with major institutional investors and leading brokerage analysts worldwide, and serves as spokesperson to the financial media and general press. Previously, Mr. Backman served as Vice President of Investor Relations and Public Relations for Broadwing Corporation. Under Mr. Backman`s direction, Broadwing, formerly known as Corvis Corporation, was nominated by Investor Relations Magazine for "The Best Investor Relations Program for an Initial Public Offering" for the year 2000. Prior to joining Broadwing, Mr. Backman had a ten-year career in various finance, accounting and investor relations positions at AT&T Corporation and Lucent Technologies, where he specialized in international business, including mergers and acquisitions, and helped manage several strategic financial transactions in Asia. Mr. Backman received his B.A. from Boston College in economics and is a graduate of Lucent Technologies Executive Financial Leadership Program.

Robert W. Holman, Jr. is the co-founder of TriNet Corporate Realty Trust, Inc. and served as its chief executive officer, co-chairman and chairman of the board. His prior work experience includes serving as a senior executive, director or board advisor for numerous companies in the United States, Great Britain and Mexico in the finance, real estate, Internet commerce, construction, building materials and travel industries. Mr. Holman is a member of the Investment Committee and Compensation Committee.

Dale Anne Reiss was a Senior Partner at Ernst & Young LLP from 1995 through 2008 in various capacities. She served as a Managing Partner at Kenneth Leventhal & Company from 1985 through its merger with Ernst & Young in 1995. From 1980 to 1985, Ms. Reiss was a Senior Vice President and Controller at Urban Investment & Development Company. Since 1998, Ms. Reiss has served as a Trustee of Urban Land Institute and in various ULI officer and committee leadership positions. In 2002, the New York Women Executives in Real Estate named Ms. Reiss Woman of the Year. Ms. Reiss is a Certified Public Accountant. She received a B.S. in Economics and Accounting from the Illinois Institute of Technology and an M.B.A. from the University of Chicago. Ms. Reiss is a member of the Audit Committee.

George Puskar, age 62, has been a director since 2003. He currently serves as Chairman of Solutions Manufacturing, Inc., a contract manufacturer of electronic components, and is a private investor. From June 1997 until June 2000, Mr. Puskar served as Chairman of the Board of Lend Lease Real Estate Investments, formerly known as ERE Yarmouth, the U.S. real estate unit of Lend Lease Corporation, an international financial services and real estate company. From 1988 to June 1997, he served as Chairman and Chief Executive Officer of Equitable Real Estate Management, Inc., a full service commercial real estate investment management company that was the largest manager of pension funds invested in real estate and a subsidiary of The Equitable Life Assurance Society of the United States. He is also currently a director and a member of the investment committee of iStar Financial Inc., a publicly-traded REIT specializing in commercial real estate financing.

Glenn August is the president and senior partner of Oak Hill Advisors, L.P. and supervises all investment, trading and operational activities. Mr. August joined Oak Hill’s predecessor in 1987 as a co-founder of Acadia Partners. Since then, he has been responsible for more than $25 billion of investments in leveraged loans, high yield bonds and distressed securities. In addition, he co-founded all of the Oak Hill leveraged securities investment partnerships. Mr. August is also a Managing Partner of the advisor to Oak Hill Special Opportunities Fund, an investment partnership focused on investments in distressed companies. Mr. August previously worked in the mergers and acquisitions department at Morgan Stanley in New York and London. He earned an M.B.A. degree from Harvard Business School, where he was a Baker Scholar, and a B.S. degree from Cornell University. He currently serves on the Board of Directors of TeleCity Group plc, Vertex Data Science Limited, the 92nd St. Y and The Mount Sinai Children’s Center Foundation.

Mr. Lustig is a Managing Director and member of the Management Committee of Lazard, the international investment banking firm, where he directs the firm's real estate investment banking and principal activities. He has been a senior member of Lazard Freres' investment banking operations since joining the firm in 1989. Mr. Lustig is a director of iStar Financial Inc. Prior to joining Lazard, Mr. Lustig was a First Vice President in the Real Estate Group at Drexel Burnham Lambert. Previously, he was a lending officer at Chase Manhattan Bank, where he specialized in construction and real estate finance. Mr. Lustig received a B.S.F.S. degree from the School of Foreign Service at Georgetown University and is a member of the Real Estate Board of New York and the Urban Land Institute.

MADISON F. GROSE is Co-General Counsel of Starwood Capital, and Vice Chairman and Senior Managing Director of Starwood Energy where is currently focuses most of his time. During his thirteen year tenure with Starwood, Mr. Grose led the legal negotiations resulting in Starwood Capital's contribution of its multifamily portfolio to Equity Residential Properties Trust and had principal responsibilities for structuring the firm's investments in Starwood Hotels, iStar Financial, Inc. and National Golf Properties, Inc. Mr. Grose led the structuring and underwriting for Starwood Capital's first energy investment, Neptune, a 660 MW undersea power cable that will connect the NJ and Long Island power grids. He served as a Trustee or Director of Starwood Hotels from December 1994 until May 2001 and as a Director of iStar Financial, Inc. from March 1999 until May 2002. Mr. Grose holds a BS with distinction and highest departmental honors from Stanford University and a JD from UCLA School of Law, where he served as the Chief Comment Editor of the UCLA Law Review.