CNA Enterprises - Real Estate Investment, Ownership, Management

COMPANY LEADERSHIP

With thirty years experience in the real estate industry, CNA Enterprises has developed an organization that is well-suited to operate in today's competitive environment, capitalizing on its extensive relationships with various financial institutions, property owners, real estate brokers and investors, under the guidance of experienced leadership.

CNA's team of real estate professionals offers significant expertise in real estate acquisition, operation, finance, and disposition, providing the company's clients with a high level of sophisticated service and allowing the company to act swiftly and decisively to capitalize on investment opportunities.

Arnon Adar
President and Chief Executive Officer

Company founder Arnon Adar currently serves as President and CEO for the company, assuming overall responsibility for the long-term vision and ongoing operations of CNA Enterprises. His oversight includes the development and implementation of the investment strategies employed by the company, defining the structure under which the company operates, and the establishment and implementation of CNA's corporate culture. Mr. Adar has been actively involved in real estate development, investment and finance as a principal since 1976 and has originated real estate transactions valued in excess of $2 billion.

Mr. Adar is a graduate of the University of Southern California, where he majored in business and finance. Prior to entering the real estate business, Mr. Adar served for four years in the Economic Affairs Office of the Diplomatic Corps with expertise in import/export. During the past twenty years, in addition to his activities with CNA Enterprises, Mr. Adar has organized numerous venture capital groups.

For more than twenty-five years, Mr. Adar has been an active leader and participant in the Los Angeles community, serving as a member of the Executive Board of Directors for the Los Angeles Opera, as a member of The Founders for the Performing Arts Center of Los Angeles County, and as an active member of the United Jewish Fund/Real Estate & Construction Division. In addition, Mr. Adar is a Fellow and special advisor to the President of Brandeis University on fundraising for the West Coast, a member of the Cedars-Sinai Medical Center's Board of Governors, a member of the Board of Governors of the Sheba Medical Center in Tel Aviv, a member of the International Board of Trustees of Tel Aviv University, and a member of the Board of Trustees for Harvard-Westlake. Mr. Adar is also a member of Hillcrest Country Club.

Clayn Smith
Executive Vice President and Chief Financial Officer

Clayn Smith is responsible for CNA's financing activities, including lender relationships, capital structuring, financial analysis, and review of potential investments.

Before joining CNA Enterprises, Mr. Smith served as Senior Vice President for Hotel Systems International, with responsibility for real estate acquisitions, financing and project planning, and as Vice President of Development and Chief Financial Officer of the Hotel Division of The Stouffer Corporation.

Mr. Smith received his Bachelor of Arts Degree from Brigham Young University and a Masters Degree in Business Administration from Harvard University.

Lawrence D. Sloan
Chief Operating Officer

Larry Sloan is responsible for the analysis and documentation of investments and financing. Prior to joining CNA, Mr. Sloan practiced law with Sullivan & Cromwell LLP in New York and Los Angeles. While at Sullivan & Cromwell, Mr. Sloan advised clients, including real estate private equity funds and public REITs, on real estate and finance transactions.

Mr. Sloan received his Juris Doctorate with honors from Duke University School of Law, where he was a member of the Editorial Board of the Duke Law Journal. Mr. Sloan also holds a Bachelor of Arts in International Relations, magna cum laude, from the University of Pennsylvania. Mr. Sloan is a member of the State Bar of California and of the State Bar of New York, and holds a California real estate broker's license.

Antonio Pereyra
Vice President, Accounting and Finance

Tony Pereyra is responsible for all accounting activities, financial reporting, cash management, budget preparation and analysis, and multi-state filings. Prior to joining CNA, Mr. Pereyra served as the Chief Financial Officer and Controller of Charterhouse Investment Company in Los Angeles. Mr. Pereyra has more than twenty-five years of experience in accounting and finance. He holds a Baccalaureate Degree in Economics and Accounting from De La Salle University, Manila, Philippines, and a Master of Business Administration from the University of California at Los Angeles.

Steve Alkana
Vice President, Asset Management

Steve Alkana oversees the management of CNA's portfolio of properties. With a broad background in real estate development, management and leasing, Mr. Alkana applies his operational expertise to enhance property values through tenant retention, efficiency of service, property re-imaging, and rehabilitation. Before joining CNA, Mr. Alkana was Vice President of Operations for NewMark Merrill Companies, responsible for the oversight of a 4.5 million square foot portfolio of retail shopping centers. Mr. Alkana received a Bachelor of Science Degree from the University of Southern California. He holds a California Real Estate Broker's license and is an active member of the International Council of Shopping Centers (ICSC).

Jason O. Lind
Director of Acquisitions and Dispositions

Jason Lind oversees acquisition and disposition activities for CNA, including sourcing, underwriting, and contract negotiations for new properties. He has extensive expertise in real property transactions in the western United States.

Mr. Lind began his career in commercial real estate with Faris Lee Investments, where he was responsible for directing over $250 million in 1031 exchange transactions. Subsequently, he served as Vice President of Operations for SW Realty Partners in Newport Beach California, where he sourced retail investments for the 1031 exchange department and placed private equity for existing and future development projects. Immediately prior to joining CNA Enterprises, Mr. Lind was the Director of Acquisitions for Howard and Mills Inc., a commercial real estate investment and development company, where he was responsible for acquisition and development of a portfolio in excess of 4 million square feet.

Mr. Lind graduated from the University of California Davis with a degree in International Relations. He is an active member of the International Council of Shopping Centers (ICSC) and holds a California Real Estate License.

Michael Thomas
Financial Asset Manager

Michael Thomas has fiscal responsibility for CNA's entire portfolio of properties. Prior to joining CNA, Mr. Thomas worked as a Development Associate and Senior Analyst for AIG Baker Shopping Center Properties where he contributed to the acquisition, disposition, and development of premiere retail properties throughout the United States.

Mr. Thomas began his real estate career with CB Richard Ellis (CBRE) where he was a Senior Consultant for CBRE's Financial Consulting Group. As the head consultant in the Phoenix, AZ and Atlanta, GA offices, he was responsible for the valuation and analysis of over $4.5 billion worth of commercial properties. Mr. Thomas also worked as an Underwriter and the Head of Analytics at GMAC Commercial Mortgage. In this role, he was responsible for underwriting and structuring bridge and mezzanine financing for value-added real estate transactions that often included tax-exempt bond and tax credit equity financing.

Mr. Thomas graduated Phi Kappa Phi with honors from the Master of Real Estate Development degree program at the University of Southern California. Mr. Thomas also holds a Bachelor of Business Administration degree, magna cum laude, with an emphasis in Finance from the University of Georgia.