Ashish Dua is a Co-Managing Member of Acumen Capital Partners LLC. Ashish is a 3rd generation property owner with over 10 years experience in the real estate industry. Prior to co-founding Acumen Ashish served as Associate Director of Acquisitions and Asset Management at Time Equities, Inc. (-TEI"). a private real estate investment company owning a portfolio of over 20 million square feet of office, industrial. retail, and residential properties, in 27 states, 3 Canadian Provinces, and Europe. His duties included overseeing the asset management and leasing of a portfolio valued in excess of $250 million consisting of over 2,000.000 square feet of commercial and industrial real estate in 12 states.

Recently Ashish lead the acquisition of the $67.250.000 Miami International Airport portfolio, a, 800.000 square foot industrial and retail portfolio located adjacent to the Miami Intemational Airport. and the S34.500,000 Cantiague Rock Road portfolio, a 312.000 square foot industrial portfolio located in Westbury. New York. Prior to joining Time Equities. Ashish spent 3 years at Park Realty Associates. a private real estate brokerage firm based in Boston. He is a licensed New York State Real Estate Broker. holds a Bachelor's in Business Administration from Boston University. and a Master's of Science in Real Estate Finance from New York University. In addition, he is a member of the Long Island City Business Development Corporation and the National Association of Industrial and Office Properties.

Max Pastor is the Managing Director and General Counsel of Acumen Capital Partners LLC. Max's primary responsibilities are to source new acquisition opportunities and to continue to expand and develop Acumen's growing network of debt and equity partners. Max also serves as chief legal officer of Acumen and oversees outside counsel in all aspects of the company's legal affairs.

From 2006 to 2009 Max was an Associate in the Real Estate Department in the New York City and West Palm Beach offices of the international law firm Edwards Angell Palmer & Dodge. LLP. Prior to joining Edwards Angell Palmer & Dodge. LLP, Max was Associate General Counsel at Time Equities. Inc., a private real estate investment company owning a portfolio of over 20 million square feet of office, industrial, retail and residential properties in 27 states, 3 Canadian provinces and Europe.

From 2003 to 2009 Max acted as counsel to owners, developers, lenders and investors in approximately S750,000,000 of real estate transactions. Such transactions included acquisitions, financings. ground-up developments and leasing. In addition, Max sourced and was an investment partner in the acquisition of a 350.000 square foot office building in Atlanta, Georgia. Other notable legal representations include the conversion of 125 Maiden Lane. New York. New York from an office building to commercial condominiums, the acquisitions and financings of numerous multi-family and mixed use properties in Miami Beach, Florida as well as acting as Florida counsel in the acquisition and financing of the Miami Industrial Portfolio. a 800,000 square foot industrial and retail portfolio located adjacent to the Miami international Airport.

Max received his B.A. from The Ohio State University and his J.D. from the Yeshiva University. Benjamin N. Cardozo School of Law. He is admitted to the Bar in both New York and Florida and currently resides in Connecticut with his wife and son.

The principals of Acumen Capital Partners LLC have extensive commercial real estate experience in the outer boroughs of New York City providing the firm with unique insights on these markets. The firm believes the current economic environment presents a rare opportunity to acquire well located industrial/manufacturing and commercial property at substantial discounts to replacement cost. The favorable acquisition pricing combined with strong market fundamentals and the operational capabilities of the company provide Acumen the ability to generate above market risk adjusted returns for the foreseeable future. Below is a brief list of factors creating strong conditions for Acumen to acquire these assets at attractive prices and enhance their value:

• Residential converters have been eliminated from the market removing a substantial source of competition for commercial property and subsequently reducing acquisition pricing.
• Demand from tenants continues to be strong. According to CoStar's 1st quarter 2010 Outer Borough Industrial Market Report the current vacancy rate of the approximately 163 million square foot market is 4.6%. The market has also been stable with the vacancy rate ranging between 2.5% to 5.0% for the past 15 years.
• The densely populated outer boroughs rapid growth rate will continue to increase demand for industrial and commercial property in New York City. The U.S Census Bureau estimated the 2008 population of Brooklyn and Queens at 2,556.598 and 2.293.007 respectively, which if separated from NYC would place them as the 4th and 5th largest cities in the country behind only New York City. Los Angeles and Chicago. Brooklyn's growth has been particularly impressive, with the borough quickly becoming a national creative haven for fashion, arts, and culture.
• The recent residential rezonings have substantially decreased the supply of industrial property. Some estimates put the reduction of industnal space over the past decade at over 30 million square feet. Although there are challenges in the residential market in the near term, over the long term this trend of residential conversions should continue. further reducing the amount of industnal space in the market.
• The majonty of the industrial/manufacturing properties in the market are owner occupied. The severe economic conditions have greatly impacted these companies' balance sheets. Many are turning to their real estate in the form of sale-leasebacks to raise capital. Others, particularly manufacturers. are moving operations abroad. Since these owners control a substantial portion of the market. their duress is further enhancing the acquisition opportunities. The principals of Acumen have completed several sale-leasebacks including three in Queens County.
• With industrial rents currently at approximately 513 per square foot and the cost to build exceeding S150 per square foot (excluding land). market conditions do not allow for the development of additional industrial property. This has been the case for years which is demonstrated by the minimal amount of construction of industrial property in the outer boroughs during the last decade_ Baring a substantial increase in industrial rents and/or significant decrease in construction costs, this trend will continue.