Rodman Properties, Inc.

Established in 1994, RP Management, Inc.'s mission is to provide professional and efficient management for residential apartment communities. Each RP Management community employs on-site staff, including leasing consultants and maintenance personnel, dedicated to providing high level service and maintaining resident satisfaction. As an owner-operator, RP Management concentrates on long-term ownership and continual growth while offering high quality apartment living for its residents. Rodman Properties, Inc., seeks to acquire both market-rate and project-based Section 8 communities in the greater mid-Atlantic region with a minimum of 100 units. The company looks for value-add and stabilized assets in secondary and tertiary markets, and has the ability to purchase properties with no mortgage contingencies as well as low loan to value loan assumptions. Recently Rodman Properties has also pursued numerous new construction projects as second phases of existing communities where sufficient land was available. Since inception in 1992, Rodman-affiliated entities have acquired 72 individual properties (including three new construction expansion projects), consisting of 12,077 units and representing $259.8 million of equity, on behalf of its investors and principals. Sold transactions include 33 properties with 5,978 units representing $68.5 million of investor equity. The existing portfolio consists of 39 properties with 6,099 units representing $191.3 million of investor equity.