Levitt Corp.

In his position as president through 2008 and now as chairman of Core Communities, Pete Hegener has overseen the development of some of the Southeast’s leading master-planned communities. Core’s original community in Port St. Lucie, St. Lucie West, has approached build-out on 4,600 acres after years as one of the fastest selling communities in the country. The town of Tradition in western Port St. Lucie is now building on that success with more than 8,000 acres, ultimately housing 18,000 residential units and 9.0 million S.F. of commercial, along a five-mile-long I-95 corridor. Tradition is seen as the hub of regional job creation efforts, and just recently became home to the Torrey Pines Institute for Molecular Studies, a world-class research organization that will create hundreds of high-value jobs in the region. Core is now taking its Tradition concept to the Savannah/Hilton Head area with an approximately 5,400-acre master-planned community entitled for up to 9,500 homes and 1.5 million square feet of commercial space. Hegener earned a master’s degree in business administration from the University of Southern California. He is a member of the National Association of Industrial and Office Parks and the Urban Land Institute. He serves on the boards of directors for the Economic Development Council of St. Lucie County and Enterprise Florida (the state’s economic development agency), and serves on the advisory board for Florida Atlantic University. Hegener has been actively involved in community-based projects throughout his career in St. Lucie County.

Seth M. Wise, President of Woodbridge Holdings Corporation has worked in the real estate industry for over twenty years. Seth also serves as President of Woodbridge subsidiary Core Communities. He began his career in commercial lending as a credit analyst at BankAtlantic. Mr. Wise spent 5 years in retail leasing as a Senior Leasing Executive with the Washington, D.C. based Targoff and Company and then joined the Abdo Companies as a development partner in 1996. In 2001, he joined Levitt Corporation as President of the commercial development subsidiary, Levitt Commercial. He then became Executive Vice President of Woodbridge Holdings Corporation in 2003 and ultimately named its President in 2005. Mr. Wise earned a Bachelor of Arts degree in Finance from the University of Florida. He additionally serves as a member of the Real Estate Advisory Board of the Center for Real Estate Studies at the University of Florida, the Young Presidents’ Organization (YPO), and an Executive Committee member of the South-East Florida/Caribbean Council of the Urban Land Institute (ULI).

John Laguardia became a Director in 2000. In 2005, Mr. Laguardia became Senior Vice President, Levitt Corporation. During the period 2004 to 2005, he was appointed Chairman and Chief Executive Officer of Bowden Building Corporation. From 1999 - 2004, he served as President and Chief Operating Officer of ALH II, Inc., a holding company involved in the roll-up of regional homebuilders located in the southeastern United States. From 1997 through 1999, Mr. Laguardia served as the Executive Vice President and Chief Operating Officer of Atlantic Gulf Communities, Inc. Mr. Laguardia was the President and Chief Executive Officer for American Heritage Homes from 1994 to 1997.

Alan J. Levy has served as a Director of Levitt Corporation since 2005. Mr. Levy is the founder and, since 1980, has served as the President and Chief Executive Officer of Great American Farms, Inc., an agricultural company involved in the farming, marketing and distribution of a variety of fruits, vegetables and meat products.

Joel Levy serves as Vice Chairman of Adler Group, Inc. Levy joined Adler Group, Inc. in 1984 with over 24 years of public accounting experience. Over the last 22 years, he has participated in all facets of Adler Group's operations, with particular emphasis on accounting matters, financing, negotiating and structuring transactions, property management, and leasing and corporate administration. After graduating from Brooklyn College with a B.S. in Accounting in 1960, Levy was employed by the New York accounting firm of Eisner & Lubin until July of 1965, when he relocated to South Florida. Levy joined the CPA firm of David Stuzin & Co. as a partner, only to be recruited back as Partner in Charge of the Miami and West Palm Beach offices of Eisner & Lubin in 1972. In 1977 when Adler Group, Inc. became one of his clients, Levy's transition from a career in public accounting was not far off in the horizon.

John E. Abdo has been the Vice Chairman of Woodbridge Holdings Corporation and its predecessors since its inception and of BFC Financial Corporation since 1993, while serving as a BFC board member since 1988. He has been the Vice Chairman of the Board of Directors and Chairman of the Executive Committee of BankAtlantic Bancorp, Inc. since 1987. He is also Vice Chairman of the Board of Directors of Bluegreen Corporation, and a member of the Board of Directors of Benihana, Inc. A successful real estate investor and developer in his own right, Mr. Abdo has made a career of developing residential communities as well as commercial structures throughout South Florida for more than 25 years. His company has built over 5,000 residences, which for a time made it one of the largest residential builders in Florida’s Broward County. Mr. Abdo has a wide range of contacts and experience in diverse industries. Mr. Abdo is the President of the Broward Performing Arts Foundation, a $60 million theater for the Performing Arts that serves all of South Florida and a member of the Board of Directors of PACA (Performing Arts Authority). He is a graduate of Florida State University.

Mr. William Scherer has served as a Director of Levitt Corporation since 2001. Mr. Scherer has been an attorney in the law firm of Conrad & Scherer, P.A. since 1974.