Ralph Hemphill – Senior Advisor Philosophy: It isn’t so much the good real estate decisions that my clients and I made that makes me proud; it’s the insight and discipline exhibited in AVOIDING tempting deals, I am proud of. For the cost saving/revenue gains on the deals we made are finite and predictable, the potential liability and losses resulting from making poor real estate decisions may prove to be both unpredictable and infinite. Experience: Prior to his current position, Ralph was Vice President of a private equity firm and as such, reported directly to the CEO, CFO, President and General Counsel and was an active participant and the key member of the decision-making process as it related to all things real estate. Most importantly, he advised the M&A team as to valuations and synergistic financial strategies regarding the real estate component of its contemplated publically traded LBO targets including the Earl Scheib Auto Painting & Body acquisitions. He also managed, repositioned, leased and disposed of all the real estate acquired by their LBO and note buying/loan trading activities, which stretched across the United States. Prior to his private equity experience, Ralph managed large-scale development projects and tax credit syndication investments, for and with some of the most respected names in the business such as Pankow Development, Itochu, Mitsui Trust Bank, Industrial Bank of Japan, Credit Suisse / First Boston, Daimler Chrysler Credit, JPI, Related Companies of California and Kaufman & Broad Multi-Housing Group, Inc. Noteworthy accomplishments: include a luxury high-rise condominium project in Honolulu voted Best-In-Class two years in a row and the transformation of a failed office/hotel development site to a destination retail use by CarMax, as their first freeway location. Ralph received his BA in Economics from the University of North Carolina (Chapel Hill) and his MBA from The College of William and Mary and is /has been a member of many business and real estate organizations. Ralph holds a California Sales Person’s license CA BRE: 01238305