Flag Wharf Inc.

Flag Wharf Inc. is a commercial real estate company that began its operations in 1972. Flag Wharf Inc. (“FWI”) is focused on the acquisition and long-term ownership of commercial income producing real estate. It is fully integrated from identifying attractive commercial income-producing assets, acquiring the asset, managing the asset and continuing to operate the asset for the long term cash flow as well as the anticipated long term capital appreciation of well positioned strategic commercial assets. FWI had its largest investment in Boston, Massachusetts, a development that consisted of retail, office, and 200 residential condominiums, along with a seven floor parking garage. The development plan was undertaken by a group of investors that included Merrill Lynch and was financed by a loan from the now defunct Bank of New England. FWI bought the loan and foreclosed on the property. FWI completed the construction and sold off the residential units and kept the commercial space for its own investment which it continues to own. FWI has focused on the acquisition of numerous other income producing real estate assets concentrating on food anchored community shopping centers. FWI began a long-term effort to expand its holdings in the food anchored retail shopping center arena. This effort was determined to provide the equity holders with long-term cash flow and stabilized returns. FWI has had the privilege of entering many partnership deals with both institutional and individual partners. The company currently owns and/or manages in excess of four million square feet of commercial space including retail, industrial and office space. It has its corporate headquarters in New York City, its finance/acquisition office in Boston, Massachusetts, and its property management office in Clearwater, Florida.