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The Flournoy executive team has many years of experience in developing, building and intensively managing multifamily real estate properties. The Chairman and CEO of the Company, John F. Flournoy, has over 45 years of experience in real estate. He currently serves both strategic roles and day-to-day operating roles at the Company. The other key company executives all have extensive real estate backgrounds, averaging over 25 years with Flournoy. The Company's executive management team is identified below:

FLOURNOY EXECUTIVE LEADERSHIP

John F. Flournoy Chairman and Chief Executive Officer
John F. Flournoy has served as the Chairman and Chief Executive Officer since the founding of the Company in 1967. He is a graduate of the University of North Carolina Business School and is a veteran of the United States Marine Corps, in which he served as a fighter pilot. Mr. Flournoy is a past president of the United Way of the Chattahoochee Valley; he has served on the Boys and Girls Club Board for over 35 years, and has been Chairman of the Columbus Gateways Committee since 1981.

Paul L. Wieczorek President and Chief Operating Officer
Paul L. Wieczorek is a graduate of Columbus State University and has been employed by Flournoy Companies since 1985. He oversees the management company, including its infrastructure, and is actively engaged in the property management.

J. Randolph OsbornePresident and Chief Operating Officer
J. Randolph Osborne is a graduate of Auburn University and has been employed by the company in various capacities since 1979. He is responsible for all construction operations of the company and the third party businesses.

Thomas H. Flournoy President and Chief Operating Officer
Thomas H. Flournoy has been employed by FDC in various capacities since 1981. He is a graduate of the Georgia Institute of Technology. Mr. Flournoy is responsible for the coordination of new developments. He has personally been responsible for the development of over 40 apartment communities, as well as single family, condominium, and commercial developments. Mr. Flournoy is the brother of John F. Flournoy.

FLOURNOY PROPERTIES LEADERSHIP

Lance J. Broach Senior Vice President / Physical Assets
Lance J. Broach has been employed by Flournoy Properties since 1980. He is responsible for the completion of capital projects and the management of ancillary income sources. Lance inspects work on existing properties and new construction and provides oversight of the maintenance and landscaping departments.

FLOURNOY CONSTRUCTION LEADERSHIP

Thomas E. Harrell Executive Vice President
Thomas E. Harrell is a graduate of Columbus State University and has been employed by the company since 1989. Mr. Harrell is responsible for the construction of both multi-family and commercial developments, with a primary focus on the negotiation and supervision of all commercial related activities of the company.

William A. Brannan, Sr. Senior Vice President
William A. Brannan is a graduate of Columbus State University and has been employed by the company since 1980. He is responsible for the construction of multi-family developments.

T. Brent Osborn Senior Vice President
T. Brent Osborn has been employed by the company in various capacities since 1989. He is responsible for the construction of multi-family developments.

Larry E. Mills Vice President
Larry Mills is a graduate of Auburn University and has been employed by the company since 1986. He is responsible for the construction of both multi-family developments and catastrophe restoration projects.

FLOURNOY DEVELOPMENT LEADERSHIP

Rodney S. Dawson Chief Accounting Officer
Rodney S. Dawson is a 1990 graduate of Auburn University. He has been employed by FDC since 1997 and is responsible for financial reporting and the day-to-day operations of the accounting department. Mr. Dawson is a Certified Public Accountant and is a member of the Georgia Society of CPAs and the American Institute of CPAs.

Brady T. Blair Vice President/Project Manager
Mr. Blair joined FDC in 1995. In addition to traditional DPM duties, he is responsible for site selection and procurement, product selection, oversees plan production and site due diligence. Mr. Blair received a BS in Building Construction from Georgia Institute of Technology.

John T. Brantley Senior Vice President Development
John T. Brantley has been employed by FDC since 1987. He has worked as the Development Project Manager on over 35 apartment projects throughout the southeast. Prior to joining FDC, Mr. Brantley retired as General Manager after 30 years with U.S. Steel\'s agricultural chemical company. Mr. Brantley is a graduate of Auburn University with a degree in Agricultural Science and completed the executive MBA Program sponsored by U.S. Steel.

John F. Flournoy, Jr. Vice President /Project Manager
John F. Flournoy, Jr. (Jake) joined FDC in 2002 after completing service in the United States Marine Corps. He is a graduate of the University of Virginia. Prior to the Marine Corps, Mr. Flournoy worked as a licensed real estate agent and an equity lending analyst. His responsibilities at FDC include site selection and procurement, product selection, overseeing plan production and site due diligence. He is the son of John F. Flournoy.

Ryan M. Foster Vice President /Project Manager
Ryan M. Foster joined FDC in 2003. Mr. Foster completed his Bachelors of Landscape Architecture at Clemson University and then received his Masters of Science in Real Estate from the University of Texas Arlington. Prior to joining FDC, he worked for ORIX Capital Markets in Dallas, Texas, as a Commercial Mortgage Backed Securities (CMBS) Analyst. Mr. Foster's responsibilities at FDC include site selection and procurement, product selection, overseeing plan production and site due diligence.

Jeremy W. Brewer General Counsel and Corporate Secretary
Prior to joining FDC in 2007, Jeremy W. Brewer represented corporate clients while practicing at an international law firm in Washington, D.C. Mr. Brewer provides work related legal counsel to all Flournoy companies, and also serves as Secretary to FDC's Board of Advisors. Mr. Brewer received his Juris Doctor degree, cum laude, from the American University Washington College of Law in Washington, D.C. He is also a graduate of Denison University in Granville, OH.

Del Leftwich Director / Human Resources
Del Leftwich joined the Flournoy Companies in 2008 and is responsible for all company Human Resources functions. He has over twenty-eight years of management experience including fifteen related directly to Human Resources. Del is a former President / COB of the Columbus chapter of the Georgia Society of Human Resources (SHRM) and has served SHRM on the state level. He has a bachelor's degree in Business Administration from LaGrange College and a graduate degree in Human Resources from Troy University. Del is also Professional Human Resources (PHR) certified.

J. Blake Breimann Project Manager
J. Blake Breimann joined FDC in 2008. Mr. Breimann earned his Bachelor of Arts in International Economics from Carson-Newman College. Prior to joining FDC, he worked for Colliers Keenan as a commercial real estate broker specializing in land and investment sales. Mr. Breimann's responsibilities at FDC include site selection and procurement, product selection, financing, overseeing plan production and site due diligence as well as asset management.