WESTIN SOUTHLAKE

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B R O U G H T T O Y O U B Y

A LIST PARTNERS MANAGEMENT, LLC SRH HOSPITALITY SOUTHLAKE INVESTMENTS, LLC

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This presentation for A LIST PARTNERS EB5 WESTIN SOUTHLAKE, LLC (the “Fund”) and any appendices or exhibits (the “Presentation”) have been prepared by A List Partners Management, LLC. (“ALPM”) for information purposes only. This Presentation is confidential and for its intended audience only. Recipients of this Presentation may not reproduce, redistribute or pass on, in whole or in part, in writing or orally or in any other way or form, this Presentation or any of the information set out herein. This Presentation does not constitute an offer to sell or a solicitation of an offer to purchase limited liability company membership interests in any security. Any prospective investor is advised to carefully review all of the private placement memorandum, operating agreement and subscription documents (“Investor Documents”) and to consult their legal, financial and tax advisors prior to considering any investment in the Fund. The materials contained in this Presentation contain a summary and overview of the Fund as currently contemplated by ALPM in order to obtain initial feedback from potential investors. ALPM may change some terms of the Fund prior to finalization of the Investor Documents. This Presentation does not purport to be complete and is superseded in its entirety by the information contained in the Investor Documents. Past performance is not indicative of future returns or Fund results. Individual investment performance, examples provided and/or case studies are not indicative of overall returns of the Fund. In addition, there can be no guarantee of deal flow in the future. Some of the statements in this Presentation, including those using words such as “targets,” “believes,” “expects,” “intends,” “estimates,” “projects,” “predicts,” “anticipates,” “plans,” “pro forma,” and “seeks” and other comparable or similar terms are forward-looking statements. Forward looking statements are not statements of historical fact and reflect ALPM’s views and assumptions as of the date of the Presentation regarding future events and performance. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are important factors that could cause Fund’s actual results to differ materially from those indicated in these statements. ALPM believes that these factors include, but are not limited to, those described in the “Risk Factors” section of Fund’s confidential private placement memoranda.

AN INVESTMENT IN A THE FUND INVOLVES RISK, AND NUMEROUS FACTORS COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF FUND TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS THAT MAY BE EXPRESSED OR IMPLIED BY STATEMENTS AND INFORMATION IN THIS PRESENTATION. SHOULD ONE OR MORE OF THESE RISKS OR UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THIS PRESENTATION.

D I S C L O S U R E

PROJECTINTRODUCTION

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4 Star Hotel

6 Story Westin Hotel in Southlake, Texas

17720 Sq. Ft. Facility including 253 Rooms

Westin Southlake will be one of the elite hotels in the North DFW market. The hotel will be the largest and most upscale hotel within the SH 114 corridor. With its excellent location and proximity to numerous activity centers in Southlake the hotel will offer a markedly different experience to other properties. In addition to the design and guest experience offered, the Westin Southlake intends to distinguish itself from other properties in the area through the use of a leading sales and marketing platform to drive occupancy and room rates.

Meeting SpacesFull Service RestaurantRooftop LoungeOutdoor PoolsFitness CenterRetail Space

WESTIN SOUTHLAKE

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This project will consist of a four-star, six-story Westin hotel that will operate under an expected 20-year franchise agreement with Starwood Hotels & Resorts Worldwide/Marriott International, and will offer 253 rooms, 26,962 gross square feet of meeting and conference space, a full-service restaurant, a lobby lounge, an outdoor lounge, an outdoor pool, an outdoor whirlpool, a fitness center, a business center, and vending areas. The project is located in Southlake, Texas.

The site is in the city of Southlake Texas, in Tarrant County. Its prominent location on SH 114, between North Kimball Avenue and North Carroll Avenue on the north side of the highway, allows for excellent ingress/egress from the property. Located directly north of Southlake Town Square, a large and prospering multi-use development, this hotel will offer close proximity to all of downtown Southlake’s amenities, including restaurants, theaters, elite shopping, and recreational activities.

Southlake is a census-designated place in Tarrant County, Texas. It is part of the Dallas Metropolitan Statistical Area (MSA), as defined by the U.S. Census Bureau. Located directly north of Southlake Town Square, a large and prospering multi-use development, the Project will offer close proximity to all of downtown Southlake’s amenities, including restaurants, theaters, elite shopping, and recreational activities. A Texas protected U-turn lane at North Carroll Avenue and SH 114 provides immediate access to Southlake Town Square without the hassle of being stopped at a stoplight. A protected U-Turn lane is also in place at North Kimball and SH 114, giving excellent access to all vehicles leaving Southlake Town Square. Primary regional access routes serving the DFW Metroplex include Interstates 20, 30, 35 and 45 as well as U.S. Highways 67, 75 and 287.

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Under the Marriott International umbrella of brands, Westin Hotels & Resorts is an upper-upscale hotel concept catering to business and leisure travelers.

All Westin hotels include a private health club/fitness center, meeting and banquet space, business services, and high-end amenities. The hotels offer a variety of suites, some with a private living area, meeting space, and/or kitchen. The brand offers its Heavenly Bed and Heavenly Bath concepts, which tout upgraded amenities and linens. In 2015, the brand initiated its “Well-Being Movement,” a global initiative spanning the following six pillars: Sleep Well, Eat Well, Move Well, Feel Well, Work Well, and Play Well. As of year-end 2016, there were 125 Westin properties (51,705 rooms) in operation across North America. In 2016, the brand’s North American hotels achieved an average occupancy level of 76.9%, an average daily rate of $198.98, and an average RevPAR of $152.94.

With its Westin Hotels & Resorts brand, the hotel will benefit from a luxury brand with one of the industry’s leading loyalty programs, Marriott Rewards, which offers its more than 31 million members worldwide their choice of frequent flyer miles, points toward free vacations, merchandise, and the lowest rates in any hotel in the Marriott International family of hotels and resorts, including Westin.

With its excellent location and proximity to numerous activity centers in Southlake, the hotel will offer a markedly different experience to other properties. In addition to the design and experience offered, the Project intends to distinguish itself from other properties in the area through the use of a leading sales and marketing platform to drive occupancy and room rates.

MEET THE EB-5 TEAM

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As the CEO of A List Partners Management, LLC, David Owen, CFM, is responsible for managing the management team whose members assist in the day to day operation of the companies and funds under the A List Partners umbrella of companies. Also responsible for working with securities and local attorneys to stay on top of Federal and State Legal Compliance reporting, liaison to accounting firms, mentoring the members of the management team and preparing them to keep the funds and related companies profitably running for years to come and, to build relationships with Non-US Investors in countries around the world.

David has earned the designation of Certified Fund Manager by the American Association of Private Lenders and has 40 plus years of professional experience in the Texas real estate market and real estate finance industry. A multi-degreed professional, David has accrued leadership skills that have given him insight into how to manage successful businesses and is one of the visionary founders of a group of companies under the Pride of Austin brand. After resigning as a Managing Member of Pride of Austin Capital Partners, LLC, David retired. But, retirement was short lived because the investors and peers with whom he built long-standing relationships literally demanded that he

stay involved in the industry. So in March of 2015, less than three months after retiring, he launched a group of companies under the A List Partners brand. Determined to build these new companies bigger and better, David is on the leading edge of the future of the private lender industry and is visionary in his keen understanding of where the profession is heading.

His ability to think outside the box on all things financial as it applies to real estate coupled with his conservative approach to managing investments has earned him a reputation among other private real estate fund managers and private lenders as being a leader in that industry. Investors are very appreciative of the consistent hard work of David and his team who together deliver high yields to investors in the funds.

David served as a member of the Board of Advisors of the American Association of Private Lenders (AAPL) for a number of years and shared the responsibilities with other board members to develop seminars and conferences and to write course curriculum for educating the members of AAPL. He has been inducted into the Master’s Council of Private Lenders by Leonard Rosen, arguably the top guru in the private lending industry.

DAVID F. OWEN, CFMCHIEF EXECUTIVE OFFICER

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Ms. Cathy Nguyen is a well-known Vietnamese-American Austin business woman. Ms. Nguyen has long track record of successful investments and business ventures over the last 20+ years. She specializes in assisting and coordinating international business transactions to acquire United States real estate and commercial businesses. Ms. Nguyen has brought tens of millions of dollars of foreign investment into the United States through programs such as the United States Citizenship & Immigration Service (USCIS) EB-5 Immigrant Investor Visa. In addition, she has facilitated foreign investments and joint ventures with her contacts in China and Vietnam.

Cathy’s contributions and achievements have been recognized by former Texas Governor Rick Perry, the city mayors of Houston and Austin, the City of Austin, the Austin City Council and the Vietnamese Consulate.

Ms. Cathy Nguyen is President and Manager of the Texas Vietnam Chamber of Commerce. In her free time she enjoys entertaining in her home, spending time with her children and husband, and traveling all over the world.

MS. CATHY NGUYENEB-5 AMBASSADOR

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Lance Haverda brings over 25 years of entrepreneurial, sales and marketing, business management and development, and Real Estate experience to A List Partners Advisers. Possessing Masters degrees in both Engineering and Applied Psychology, Lance’s business acumen and ability to build, expand and manage client relations is vast. Lance has come aboard as the Chief Business Development Officer with A List Partners Management and will head up all prospect outreach and marketing, as well as expansion of current client relationships and expansion efforts.

Lance was a member of the vaunted and historic Wrecking Crew defense under Jackie Sherrill while playing football at Texas A&M University, and was part of Coach Sherrill’s first recruiting class. After earning his Masters in Engineering, Lance worked as a Consultant with Andersen Consulting (now Accenture) prior to founding and building a very successful retail gallery in Austin, Texas. With no previous retail experience, he partnered with the Dallas, Texas based leather manufacturer, American Leather, and sold more custom, premium leather furniture for them than anyone in the world for over 6 years.

Upon selling his controlling interest in his gallery, he worked in the high-tech industry with high-tech giants such as SAP and Dell, specifically in the Sales, Management, Training and Business Development realm. Also during these last 18 years, Lance obtained and worked in the Real Estate industry with experience in both residential and commercial sales.

Lance has been a Motivational and Inspirational speaker and key note presenter since leaving Texas A&M; and has given talks and key note addresses to the likes of APPLE, BMC, IBM, the YMCA and many more.

Lance is a single father of three boys and counts them as his reason for being. He is an avid writer and has been an artist for over 30 years, beginning in his teens under his mother’s tutelage, who was a regionally renown Ceramicist. His spirituality and service to others remains both a constant and of utmost value to him, while fitness and wellness are also paramount in his continuous growth.

LANCE HAVERDACHIEF BUSINESS DEVELOPMENT OFFICER

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A veteran of the United States Marine Corps, Santiago Mejia brings to A List Partners a wealth of experience in operational oversight, efficiency, and coordination. As a civilian, he has held management positions in the hospitality industry, directing and providing guidance to highly diverse teams across multiple districts. Santiago oversees the day to day operations of A List Partners Management, providing cross-functional coordination between staff, outside

partners, and vendors. By managing staffing, business requirements, finance, and field operations, he ensures the highest level of value and return for A List Partners stakeholders.

In his spare time, he is an independent recording artist. He has performed in venues throughout Texas and the rest of the United States, and is in the process of releasing his first album.

Scott Haberbosch carries 28 years of experience in management and customer relations. His expertise derives from dynamic industries in his career.

Scott was born in Kansas City, MO but moved to Texas in 1980. After high school, Scott managed a multi-million dollar C-store for Star Enterprise in Richardson, TX, while attending college. He then worked as an account manager for Ernst & Young before relocating to Austin, Texas in 1995. His telecommunications education carried him from AT&T and then he transitioned to become a call center director for a start-up company, Traq-wireless which acquired Motorola Cellular Services, Inc. He moved from the call center

and became an account manager handling large corporate accounts like Burlington Northern Santa Fe and General Motors Vehicle Sales Service and Marketing. Prior to joining A List Partners, he managed a popular Austin neighborhood bar for 18 years.

Scott is currently studying ASL (American Sign Language) and will graduate in 2017 with his degree and Texas State certification as an American Sign Language interpreter.

In his spare time, Scott enjoys traveling, meeting new people, and spending time with his family and friends.

SANTIAGO MEJIACHIEF OPERATIONS OFFICER

SCOTT HABERBOSCH, CFMDIRECTOR OF BRAND MARKETING

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Jordan Regalado began his association with A List Partners Management since the inception of the company as a project manager. Prior to that Jordan studied business administration with an emphasis on marketing at the University of North Texas. He has earned his Certified Private Lender Associate (CPLA) designation and his Certified Fund Manager (CFM) designation from American Association of Private Lenders.

Jordan has been developing his professional skills while keeping pace with the growth of the companies under the A List Partners brand. Jordan earned a promotion to a portfolio manager prior to being named a managing member of A List Partners Management. He is also a licensed real estate agent in the State of Texas for the A List Partners brokerage.

Before joining the A List team, he held positions in the hospitality and fashion industries, gaining

strong social skills which helped him to form a well-rounded personality who is considered affable and approachable by the people he meets.

As a San Antonio native with family dating back five generations, Jordan appreciates the familiarity he has with Central Texas. He has a deep desire to work in real estate. He embraces the idea that real estate is an asset and the community in which the asset is located helps determine the value of the asset. Therefore, working with people in communities to help them understanding the value of acquiring an asset like real estate is very appealing to him.

In his free time Jordan enjoys trips to the lake, family gatherings, and weekends of fishing with his father.

JORDAN REGALADO, CFMMANAGING MEMBER

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The attorneys at Geraci are dedicated to ensuring your EB-5 investment opportunity is compliant with federal and state securities and corporate regulations. In addition, Geraci is dedicated to the growth and success of its EB-5 offerings. As your partner, we know you need substantial oversight and guidance throughout the EB-5 process. For these reasons, Geraci has strategic relationships with key industry leaders to create the most effective team for your EB-5 investment, including economists, immigration attorneys and regional center owners.

We will draft and prepare a custom private placement memorandum for your EB-5 investment. Unlike other EB-5 securities attorneys, we will also prepare the necessary corporate documents alongside the EB-5 PPM, including operating agreements, by-laws, limited partnership agreements, subscription agreements, mezzanine agreements, and even loan documents.

Kevin Kim is an experienced corporate and securities law attorney with Geraci Law Firm, dedicated to providing reliable and innovative legal solutions. Mr. Kim focuses his practice on real estate matters, focusing on private placements and other alternative investments for private lenders, real estate developers, and other real estate entrepreneurs. His work includes seeing that clients are compliant with the applicable securities laws, structuring strategic partnerships, and creating innovative solutions. Mr. Kim’s securities and corporate practice also includes preparing complex private and public securities offerings for alternative investment platforms for clients throughout the United States and abroad.

Mr. Kim has an extensive background in complex corporate transactions, private placement, and cross-border transactions. He has worked with major multi-national corporations, advising them on matters such as structuring strategic business acquisitions and private equity financing.

Mr. Kim is a passionate attorney who also understands his clients’ business needs and consistently seeks to find innovative solutions to further his clients’ businesses. Mr. Kim is also dedicated to providing effective legal service through effective communication with his clients. As an experienced transactions attorney, Mr. Kim understands the importance of traversing complex transactions and strives to develop innovative and strategic solutions while promoting his clients objectives.

KEVIN KIM, ESQ.EB-5 SECURITIES COUNSEL

Geraci Law Firm’s expertise in lending, real estate transactions, and securities offerings makes it the perfect law firm for developers, lenders, and other businesses raising capital from EB-5 Investors.

TERMSOF INVESTMENT

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DESCRIPTION OF EB-5 INVESTMENT

EB-5 INVESTMENT OFFERING: ORGANIZATION & STRUCTUREA LIST PARTNERS EB5 WESTIN SOUTHLAKE, LLC (the “Fund”) will offer and sell up to 56 limited liability company members interests (“Units”) EB-5 investors for a $500,000 capital investment per investor, for a total capital investment of up to $28 million. The EB-5 investment in the Fund will earn 3.0% per annum return on its investment, which will be paid only from the profits of the Fund. There is no guarantee that such profits will be realized, and as such, the investment should be considered at risk.

The Fund is managed by A List Partners Management, LLC, a Texas limited liability company (the “Manager”). The Manager will ensure that all EB-5 compliance matters with respect to the Fund are met.

The Fund is offering these Units pursuant to Rule 506(c) of Regulation D a securities exemption set forth under the Securities Act of 1933. In offering these Units under Regulation D. Regulation D requires the Fund and the Manager to protect the interests of the Fund’s investors as part of their fiduciary duties. This, along with the limited liability protection granted by the limited liability company units, provide added security to the investment opportunity.

PROJECT DEVELOPMENT SCHEDULEThe Project Company will begin construction of Westin Southlake Hotel in January 2018. Construction is expected to be completed by September 2019 with operations beginning shortly thereafter. respect to the Fund are met.

JOB CREATIONDevelopment of the hotel will create 851 new jobs. To satisfy the USCIS per investor job requirement, each of the 56 EB-5 investors in the Project will be assigned 15.2 jobs.

PROJECT COSTS & CAPITALIZATION Total development costs borne by the Project are $83,000,000:• $4,500,000 for land costs• $58,662,171 for hard construction costs• $19,837,829 for soft costs

The Project will be capitalized with $83,000,000: • $28,000,000– EB-5 equity investment• $16,600,000– Developer equity• $38,400,000 – Senior construction loan

EB-5 ELIGIBLE COSTSTotal EB-5 eligible project development costs are as follows(2017 dollars): • $45,540,998 for hard construction costs• $12,569,173 for furniture, fixtures, and equipment• $1,463,397 for architectural, engineering, and related services

Total EB-5 eligible project revenues are as follows (2017 dollars): • $23,765,352 for hotel operation

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New Commercial Enterprise A LIST PARTNERS EB5 WESTIN SOUTHLAKE, LLC

Job Creating Entity SRH Hospitality Southlake Investments, LLC

Investment Strategy Investment Strategy: Preferred Equity

Job Creation Job Creation: 851.5 New Jobs

Target Raise by NCE Target Raise by NCE: $28,000,000 (56 EB-5 Investors)

Total Project Cost Total Project Cost: $83,000,000

Regional Center Regional Center: EB5 Affiliate Network State of Texas Regional Center, LLC

SUMMARY OF THE EB-5 PROJECT

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$500KSubscriptionAmount

$50kAdministrative Fee

STRUCTURE OF EB-5 INVESTMENT

A LIST PARTNERS EB5 WESTIN SOUTHLAKE, LLC**

“Limited Liability Company“

SRH SOUTHLAKE DEVELOPMENT, LLC

“Project Company“

WESTIN SOUTHLAKE

“Project“

EB5 AFFILIATE NETWORK STATE OF TEXAS

REGIONAL CENTER, LLC*

“Regional Center“

SRH HOSPITALITY SOUTHLAKE

INVESTMENTS, LLC****

“Developer Group“

A LIST PARTNERS MANAGEMENT, LLC***

“Manager“

DAVID OWEN

“Sponsor“

SUBSCRIBERS

“Members“

SENIOR LENDER

“Senior Lender“ Controls

Controls

$16M Cash& Property

$38.3M Senior Loan Drawdown

* The Regional Center will enable the LLC to utilize its USCIS Approval to create jobs.

** The LLC that will raise EB-5 capital to make the Equity

*** The Manager will administer LLC

**** Capital provided by Trinity Private Equity Group

Controls

Controls

Regional Center Sponsor

$28MProject Costs

$28MEB-5 Equity Investment

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EB-5 TIMELINE / MILESTONES

ConditionalGreen Card

Choose an Investment Project (RC or Direct)

STEP ONEWEEKS 1-4

1Document Lawful Source of Funds

STEP TWOWEEKS 1-4

2Invest the Funds

($500,000 or $1 million)

STEP THREEWEEK 5

3Attorney Prepares

Investor Petition 1526- processing time: 16 weeks -

STEP FOURWEEKS 6-8

4Apply for Immigrant

Visa or File AOS- processing time: 4-6 weeks -

STEP FIVE

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THE JOB CREATING ENTITY

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THE PROJECT DEVELOPER

Seneca - Rochester - Harrell (SRH) is seeking financing for the development of The Westin Southlake, a to-be-built upscale full-service hotel located in Southlake, Tarrant County, Texas, a flourishing DFW suburb. The site is located directly across Texas State Highway 114 from the 1.4 Million SF Southlake Town Center and is adjacent to the 160 acre Gateway Church Campus on the North side of SH 114. The Westin Southlake will offer 253 rooms with 22,000 sf of meeting and conference space, a ballroom with 22-foot ceilings, a club-level fitness center, a lobby level pool with patio and a full service restaurant located on the main ballroom level. The property will be developed and owned through a partnership between the principals of Seneca Investments, Rochester Real Estate, and Harrell Hospitality.

The subject property is ideally located along the north side of SH 114 on what has been nicknamed the “path to progress”. SH 114 is the primary NW/SE corridor from DFW International Airport to Texas Motor Speedway and Alliance Airport and Industrial Center. This stretch of SH 114 was recently reconstructed in the DFW Connector Project with over $1bln in improvements. The eight mile project improved mobility and air quality through expanded roadway capacity, toll managed lanes and continuous frontage roads. The Westin Southlake is set to benefit from its premier location off of this recently expanded highway and be able to capture the demand that continues to grow along the growth corridor of SH 114. Over the next 15 years it is estimated that 350,000 new residents will move into the Highway 114 corridor stretching from DFW past Alliance Airport.

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INVESTMENT MERITS

HOTEL DESIGNATIONUpper Upscale Designation - 4 star hotel, 4 diamond, full service designation

ATTRACTIVE DEBT + EQUITY INVESTMENTThe comprehensive approach to creating this project is based upon significant product differentiation, an experienced development and operations team, a superior location, best-in-class branding, and is expected to result in strong, predictable financial results that are largely liberated from the broader North DFW market.

SOUTHLAKE TOWN SQUARESouthlake’s preeminent destination spot is the Southlake Town Square, a 1.4 Million SF unique master-planned development that combines various retail, fine dining, office space, multifamily, municipal offices and hospitality (Hilton Southlake Town Square). Adjacent are the Shops of Southlake totaling over 240,000 Sf of retail, and the recently opened Southlake Park Village, which is a prominent retail destination that includes stores such as REI, Orvis, Luke’s Locker, Sur La Table, and many more.

GATEWAY CHURCHThe Westin Southlake is located adjacent to Gateway Church, a nondenominational institution with a campus that is home to over 30,000 members. The church owns approximately 160 acres north of SH 114, where a 4,500 seat worship center and a children’s wing is located. Gateway Church holds 4 major annual conferences including the Men’s Summit Conference, Gateway Conference, Pink Impact Women’s Conference, and the Gateway Student Conference. Coming in 2017, a 500 seat chapel which will enable Gateway to hold weddings is anticipated to drive business to the property. The Westin Southlake will look to capture Gateway Church wedding business with its large event center and rooftop event space.

STRONG TEAMWarner Stone with Seneca Investments and Jerry Crenshaw with Rochester Real Estate are co-developers and they have partnered with Paul Barham of Harrell Hospitality to operate the property. The partnership has tasked the following elite team to help plan and develop this exclusive 4-star hotel; Oxley Williams Tharp is the project’s designated architecture firm, Rogers O’Brien will be the general contractor, and Flick Mars is tasked with interior design and enhancement of guest experience. All three firms have extensive experience in hospitality design and development. DFW AIRPORT DFW International Airport is less than 10 miles northwest of The Westin Southlake Annually the international airport generates over $16 billion in economic activity and sees over 60,000,000 passengers go through it each year. Total enplanements are projected to reach over 105,000,000 by 2035 making DFW one of the largest airports in the world.

WESTIN HOTELS & RESORTS The Westin Hotels & Resorts brand is one of nine distinct lifestyle brands that are part of the Starwood Hotels and Resorts global brand. Starwood is distinguished as a leader in the hospitality industry and the company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG) that allows members to earn and redeem points for room stays, room upgrades and flights. The Starwood Preferred Guest program includes over 17 million members that will all have access to The Westin Southlake.

CORPORATE BUSINESS CENTERSThe Westin Southlake is set to benefit from the various employment centers in the area including local Southlake businesses, Solana Business Park in Westlake (2 miles west), Deloitte University (3 miles west), Sabre Technologies (1 mile west), Las Colinas Business Park (12 miles east), and many other employment hubs.

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SENECA - ROCHESTER - HARRELL Warner E. Stone is the President, CEO and owner of Seneca Investments, bringing the experience of a 40+ year career in real estate development, consulting, management, finance and brokerage. Over his career, Mr. Stone has developed several million square feet of real estate projects including:• In excess of 7,000 multifamily units• Several hundred luxury condominium units• Four (4) class A office buildings• Two (2) medical office buildings• Six (6) hotels

Warner also brings a wealth of talents and perspective through other positions he has held during his career, which have included the following:• Provided mortgage banking services for equity, construction

financing, and permanent loans totaling over $1 billion dollars at Glenn Justice Mortgage and the mortgage banking group at both Bank of America and Wells Fargo

• Held a Senior Real Estate Management position with Homeland Stores, a grocer with sales in excess of $1 billion and 7,000 employees

Warner earned a BBA in Finance and Real Estate from the University of Texas at Austin, and an MS in Real Estate and Urban Land Economics from the University of Wisconsin at Madison. He also holds a JD from Southern Methodist University along with an LLM in tax law (with honors, Order of the Coif), and has previously maintained his CPA license, which he earned after completing his accounting studies at the University of Houston. He has practiced

both law and accounting, and currently maintains his law license. Warner also served in the United States Navy’s Intelligence Division as an Officer, and was honorably discharged in 1968.

Matthew P. Stone serves as the Chief Operating Officer for Seneca Investments. During his career, Matthew has been directly involved in:• The development of 35 projects, including 5,000 apartment

units, with a total value of approximately $500 million• The origination and underwriting of over $500 million in

construction loans as well as lines of credit, bridge loans and mini-perm loans

• Property types including garden and mid-rise apartments, hotels, office, strip and anchored retail, regional malls, industrial, townhomes and luxury high-rise condominiums

During his career, Matthew has held a number of other positions, including:• Client Manager and Loan Officer with Bank of America• Vice President and Client Manager with EquityCity, a real estate

equity brokerage firm• Associate with Oliver Wyman, a global strategy and operations

consulting firm

Matthew earned an MBA with distinction (Sord Scholar, Dean’s Award, MBA Excellence Fund Scholar, Endowed Presidential Scholar) from the University of Texas at Austin with a concentration in Real Estate Finance, and a BS in Industrial Engineering from Stanford University.

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Rochester Real Estate was founded by Jerry Crenshaw with the purpose of developing and acquiring commercial real estate property throughout Texas. Previously, Mr. Crenshaw was with Crescent Real Estate Equities Company, a real estate investment trust listed on the NYSE, which he joined shortly before its inception in May 1994. By 2007, Crescent had become one of the largest REITs in the United States with a portfolio of more than 30 million square feet, and in August of that year Crescent left the New York Stock Exchange when Morgan Stanley purchased the company for $6.5 Billion. During that time Jerry held various positions in the company, including Controller, Vice President-Finance, Senior Vice President-Chief Financial Officer, Executive Vice President-Chief Financial Officer and Managing Director-Chief Financial Officer. Jerry was also a member of the investment committee.

Crescent’s assets consisted of a diversified collection of real estate investments primarily in office, hotel/resorts, residential developments, refrigerated warehouses and mezzanine loans. Mr. Crenshaw was involved in all aspects of acquiring, developing, financing, asset managing and selling of this real estate. Crescent’s financing arrangements consisted of secured and unsecured debt, bond offerings, line of credit facilities and common and preferred equity issuances.

Crescent’s hospitality investments and developments totaled over $1.5 billion in assets and consisted of business class hotels such as the Omni hotel in downtown Austin and Marriott City Center hotel in downtown Denver, upper upscale hotels such as the Ritz Carlton

in Dallas, Ritz Carlton in Lake Tahoe and Sonoma Mission Inn & Spa in Sonoma County; destination resorts such as Hyatt Beaver Creek and Westin Beaver Creek at Vail Holding’s Beaver Creek ski resort and Canyon Ranch resorts in Tucson, Az and Lenox, Ma; and conference center hotels such as The Woodlands conference center hotel in North Houston.

Mr. Crenshaw holds a Bachelor of Business Administration degree in accounting from Baylor University and is a Certified Public Accountant. He is a member of the Texas Society of Certified Public Accountants, American Institute of Certified Public Accountants, Financial Executive Institute, National Association of Real Estate Investment Trusts and Urban Land Institute.

Harrell Hospitality Group, LLC focuses it’s hotel and resort property management experience on serving owners of high quality hotels and resorts by delivering superior hotel property management, creative hotel marketing, and disciplined fiscal techniques to maximize hotel revenue, profit and asset value of each hotel, while providing the ultimate in property guest services.• Award-winning Marriott franchisee and is approved by Hilton,

Starwood, Intercontinental, Radisson and other franchisors.• One of less than 20 independent management companies

franchised by Marriott International to manage its full service hotels in the USA.

• Recipient of Marriott’s Guest Focus Award, Marriott’s Overall Satisfaction Award, IHG’s Renovation Award and IHG’s Brand Citizen Award.

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HHG executives have over 150 years of hotel management experience across all property types, in urban, suburban and resort locations, in primary, secondary and tertiary cities. The company provides every aspect of property management including the following: pre acquisition due diligence, analysis and modeling, pre takeover planning, franchise selection and negotiation, hotel renovation, day to day ongoing property management, associate recruitment, hiring and training, new hotel development, pre opening planning and technical services, and franchise selection and negotiation, asset management, and consulting provided in aspects of hotel resort, and retreat operations.

Paul Barham, CEO Harrell Hospitality Group, LLC - In 1989, Mr. Barham and a partner formed Hotel Management Group, the predecessor to Harrell Hospitality Group, LLC. Mr. Barham was born and raised in the United Kingdom, where he studied at the London School of Accounting and the Financial Training Institute, receiving his Associate of the Institute of Chartered Accountants degree in 1976, and his Fellow of the Institute of Chartered Accountants degree in 1981. During his 35 year hotel career, Mr. Barham gained experience through working in positions from hotel controller to Vice President of Finance of a hotel management company, prior to forming HHG. Paul currently heads the company’s development and acquisitions activities.

A LIST PARTNERS MANAGEMENT, LLCFROST TOWER401 CONGRESS AVE. STE 1540AUSTIN, TX 78701(512)687-6263DFO@ALISTPARTNERS.COM

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