Leadership

Adam Douglas Gant, Co-Founder and Co-Chair

Adam Gant is an entrepreneur and a private real estate investor with a special interest in the financial aspects and mathematical analysis of real estate economics and valuation. He has been a board member and part owner of a number of corporations offering a range of products and services in the real estate sector, and as a licensed broker, where he used his experience gained while a licensed commercial real estate agent in British Columbia (2004-2007). Among these are a property management company, a financing company, a real estate investment company, and a residential construction company.

Currently, Mr. Gant is also Chief Executive Officer of Partners Real Estate Investment Trust, a public REIT that LEAGUE Financial Partners, through affiliates, manages and maintains a controlling interest.

Mr. Gant co-founded LEAGUE Financial Partners, with his partner Emanuel Arruda, in 2005 and was instrumental in the founding of the REIT and the IGW REIT LP in 2007. Since January 30th, 2004, he has engaged with Mr. Arruda in the organizing of over 30 other limited Partnerships and has overseen the acquisition or sale of properties in Canada having an aggregate market value of C$530,000,000, consisting of light industrial properties, multi-unit residential properties, commercial premises and shopping mall properties.

As principal of the Partnership Manager, he is responsible for assessing and controlling risk for each project and oversees the Partnership Manager’s acquisition process (analysis, review and implementation), as well as the administration of the Issuer’s regulatory compliance Mr. Gant also oversees asset management and investment performance monitoring.

He has previously held the titles of President and Chief Financial Officer with LEAGUE Financial Partners Mr. Gant is presently in the second year of the three-year EO/MIT Entrepreneurial Masters Program, which is hosted by the Entrepreneurs Organization (EO).

Emanuel Furtado Arruda, Co-Founder and Co-Chair

Emanuel Arruda is an accomplished entrepreneur and communications specialist with wide experience in advertising, marketing, art direction, and copywriting. For 10 years he was president of his own marketing and design firm, and four more years in the field of business consulting. He is a member of the Victoria chapter of Entrepreneur's Organization (EO).

Mr. Arruda co-founded LEAGUE Financial Partners, with his partner Adam Gant, in 2005. In the two years following incorporation, he and his partner purchased over $200 million worth of real estate on behalf of their Member-Partners, and did so without any investment brokers or outside investment banks.

Mr. Arruda is the author of The Blue Book of Real Estate Syndication. He wrote it to ensure that every potential Member-Partner could make fully informed decisions before participating in any LEAGUE investment. He also coined the phrase Intergenerational Wealth™ — the company’s trademarked term for LEAGUE’s philosophy and services related to producing, protecting, and perpetuating its Member-Partners’ wealth of capital, values, and traditions across generations.

To ensure that LEAGUE’s daily operations will be guided by the same ideals in perpetuity, Mr. Arruda introduced the company’s Credo, a 22-point declaration of LEAGUE’s core values and operating principles. In 2007, the Heraldic Authority of Canada granted LEAGUE its Coat of Arms under the auspices of the Governor General. Mr. Arruda carefully selected each symbol that appears on LEAGUE’s corporate crest as an iconic reminder of the company’s values.

Currently, Mr. Arruda oversees the writing, design and production of print, web and digital communications distributed to Member-Partners, prospective new members, clients (tenants), and the media. He also initiates new and innovative communication processes.

The Executive Team

Patrick M. Miniutti, Chief Financial Officer

Mr. Miniutti is LEAGUE's Chief Financial Officer as well as the President and Chief Operating Officer of Partners Real Estate Investment Trust, a public REIT that LEAGUE Financial Partners, through affiliates, maintains a controlling interest in and manages.

Most recently, Mr. Miniutti served as Managing Director with Sunset Realty Services, a financial and management advisory services firm, which assisted in the acquisition and asset management of community and outlet centres and the development and management of low income and multi-family housing. Prior to this, he served concurrently as Executive Vice President, Chief Financial Officer and Chief Operating Officer and also on the Board of Directors for Konover Property Trust, a public company which owned, developed and managed grocery-anchored centres and outlet centres. Mr. Miniutti has also served as: Executive Vice President and Chief Financial Officer and on the Board of Directors for Crown American Realty Trust, public company and an operator of regional malls; Chief Financial Officer at New Market Companies, one of the first developers of power centres; Executive Vice President and Chief Operating and Chief Financial Officer of Western Development Corporation (predecessor to The Mills Corporation, owner and developer of Mills Malls) and, Vice President-Financial Services and Chief Accounting Officer for Cadillac Fairview Corporation’s Urban Business Unit, a public company and a developer and owner of office and mixed-used properties. He began his career in accounting with KPMG and then moved to Kenneth Leventhal & Company, where he continued to specialize in commercial and residential real estate.

Mr. Miniutti has a Bachelor of Science degree in Accounting from the University of Bridgeport and substantially completed his MBA studies at Michigan State University. He is a Certified Public Accountant and was a member of the AICPA’s Real Estate Accounting Committee.

Dean Lindal, Global Vice President, Business Development

Dean Lindal graduated from Royal Roads University with a Bachelor of Commerce in Entrepreneurial Management and went on to post-graduate studies at the Massachusetts Institute of Technology.

As Global Vice President, Business Development, Mr. Lindal will help to leverage his unique experience with entrepreneurs and alliances to help foster continued growth not only in Canada but in select markets around the world to help LEAGUE. In particular continuing to expand up on the unique LEAGUE Summit of Leaders and media, helping to map out a 2020 growth plan and building key business development systems and process that will enable LEAGUE to continue to foster incredible and sustainable service excellence to these unique groups.

In 1991, Mr. Lindal helped start the Entrepreneurs Organization (EO). Since that time, the EO has grown from a handful of individuals to a network of some 8,000 members worldwide, ones who employ more than 1.3 million people. As EO’s Global Vice President, he has traveled to more than 25 countries and 90 cities to foster entrepreneurship throughout the world. Companies and institutions he has dealt with include the New York Stock Exchange, Young Presidents Organization, Ernst & Young, Daimler, Starbucks, Google, Microsoft, Sprint, US-Russia Center for Entrepreneurship, and the Thomas Edison Preservation Fund.

Dean Lindal’s volunteer work includes serving on the advisory board of the Eric Douglas Entrepreneurship Center and as a judge in the Canadian student entrepreneur-of-the-year competition. He is a recipient of the Business in Vancouver Top 40 Leaders Under 40 award.

LEAGUE Investment Services Inc.

David Yan, Vice President, Member Services

David Yan is a wealth management specialist with more than 20 years experience in the financial services industry. Prior to joining LEAGUE, he was Regional Vice President for the wealth management arm of TD Bank Financial Group. In this role, he led a team that assisted clients in the accumulation, preservation and transfer of their wealth. He had a long and increasingly responsible career with the TD group of companies going back to 1993.

A graduate of the University of British Columbia with a Bachelor of Commerce degree, he has completed the Leadership Academy Program at the Richard Ivey School of Business. He has also completed the Canadian Securities Course and has acquired the Institute of Canadian Bankers Association Personal Financial Planning Diploma.

Mr. Yan is active in his community, serving as Board Vice-Chair with the Canuck Place Children's Hospice; and committee member of the Sports Celebrities Festival Dinner in support of BC Special Olympics and the Canucks for Kids Fund, among others.

Brad Simpson, Chief Investment and Compliance Officer

Brad Simpson is Chief Investment and Compliance Officer. Mr. Simpson brings over 20 years of investment industry experience. Previously, he was President, Chief Compliance Officer and Portfolio Manager at Barlow Capital, a role he also performed at Wellington West Asset Management, which he founded in 2004. Prior to this, Mr. Simpson was Portfolio Strategist with RBC Global Asset Management and a member of that firm's US Equity Strategy Committee where he was responsible for the development and implementation of US Private Client Investment Strategy. He also worked with the RBC Strategy Committee, a cross platform committee of senior firm professionals mandated with the development and execution of investment policy for over $100 billion dollars of assets under administration. Mr. Simpson completed his BA in 1991, the Canadian Securities course in 1992. He is also a CIM (Certified Investment Manager) and FCSI.

Marketing & Communications

Grant Stockwell, Vice President of Marketing & Communications

Grant Stockwell is LEAGUE’s Vice President of Marketing and Communications. He joined LEAGUE after directing the national marketing and branding efforts of some of Canada’s leading companies. He has also been a successful entrepreneur, growing Steel Space Construction Services Inc. into a business with $1.5 million in annual sales.

Most recently, Mr. Stockwell was Director of Global Marketing for Rocky Mountaineer, Canada’s premier tourism experience through the Canadian Rockies. While there, Rocky Mountaineer named one of The Top 10 Marketers in 2010 by Marketing Magazine, as well as Marketer of the Year by the BC Chapter of the American Marketing Association. The company also won BC Tourism’s award for best campaign of 2010. Other senior marketing positions he has held include Director of Marketing for Boston Pizza International, while there driving +5% same store sales results and National Director of Marketing Communications for Bell Canada, where he lead the development of what would become Canada’s favourite advertising campaign. Mr. Stockwell also has extensive experience with large multi-national advertising agencies. He has managed the accounts of TELUS for BBDO, Ford of Canada for Young & Rubicam, and Labatt Breweries for Scali McCabe Sloves.

Mr. Stockwell is a graduate of the University of British Columbia (UBC), holding a Bachelor of Commerce degree with a major in marketing. He also has a certificate in Internet Marketing from the UBC.

Accounting

Dionne Barnes, Vice President Finance, Real Estate Operations

Dionne Barnes is currently the Vice President Finance, Real Estate Operations for LEAGUE Financial Partners, where her duties include internal and external financial reporting, tax compliance, and the management of financial audit statements. She is also Chief Financial Officer of Partners REIT, where she works closely with Charter’s CEO and COO on future acquisitions, real estate operations and investor relations and will provide financial reporting oversight and public document filings. Before joining LEAGUE Financial Partners, Ms. Barnes served as Treasury Manager for Carma Development LP, a subsidiary of Brookfield Properties, and Senior Manager with Deliotte and Touche. She also has extensive experience in the energy sector, serving as Tax Manager with Suncor Energy Corp., Tax Analyst with Mobil Oil Canada, Tax Manager with ENMAX Corp., a supplier of renewable energy.

Ms. Barnes graduated with a BA in Economics and a B.Com with distinction from the University of Manitoba. She received her CA designation in 1997 and completed her in-depth tax program in 2000. She also currently serves on the board of directors of CHEK-TV, in Victoria, BC.

John Kelly, Chief Accounting Officer

John is responsible for monthly reporting, financial control and various key projects. A member (F.C.A.) of the Institute of Chartered Accountants in Ireland since 1990, he is experienced in all aspects of financial control having specialized in wealth management and private banking for high net worth individuals, tax structures and trust accounting.

Before joining LEAGUE, John most recently provided accounting services to a Geneva-based family office where he successfully completed Society of Trust and Estate Planning (STEP) exams. Prior to this, he was Financial Controller for the Geneva office of Merrill Lynch Bank (Suisse). He was also Director and Chief Financial Officer for Canada Life International, which was based in the Isle of Man, John began his career with Coutts Private Bank, the private banking arm of Royal Bank of Scotland PLC first in Guernsey, then on the Isle of Man.

Acquisitions & Development

Jay Lin, Partner, Acquisitions & Development

Jay Lin is a seasoned real estate executive. As an Acquisition and Development Partner, he calls on his wide range of expertise — including development and construction management, real estate acquisition, financing and leasing — on behalf of LEAGUE’s Member-Partners.

Mr. Lin has a B.A. from the University of Waterloo and an Urban Land Economics Diploma from the University of British Columbia. Prior to joining LEAGUE, he was real estate manager for companies such as McDonald’s, Boston Pizza and Loblaws on behalf of which he acquired and developed properties worth in excess of $50 million. Most recently he was a consultant and equity partner in two development projects in Vancouver with combined value in excess of $30 million.

David Fullbrook, Partner, Acquisitions and Development:

Born and educated in Vancouver BC, David Fullbrook joined LEAGUE Assets in 2007. Since July 2010, he has been the Managing Director of LEAGUE Capital Assets, which is a member of the LEAGUE Group of Companies.

David began his real estate career restructuring foreclosed commercial real estate on behalf of Great Western Bank (since acquired by JP Morgan) in Los Angeles and Orange County, California during the S&L crisis of the early 1990s.

After that, David launched Pacific 1 Properties, Inc., a full-service commercial real estate company, in Portland, Oregon in 1994. Licensed as a managing broker in Oregon, California, and British Columbia, David grew the assets under management at Pacific 1 to in excess of $100 million before selling the company to his employees and relocating with his family back to British Columbia.

David Fullbrook is responsible for the operation, leasing and value optimization of LEAGUE’s property portfolio. He participates in the acquisition, due diligence and development of a value-creation strategy, and then leads its implementation. He is responsible for assembling and overseeing the team assigned to execute the strategic plan for each asset.

George Kallergis, Vice President of Residential Development

George Kallergis is an accomplished real estate development executive with 12 years of residential and mixed-use land acquisition, financing and development experience. He has taken a leading role in the planning, design and entitlement of over 11,000 residential units, with nearly 6,000 units developed in the United States valued in excess of $800 million.

Mr. Kallergis brings to the table expertise in all phases of the development process, adding value to LEAGUE’s own plans and objectives. His background makes him uniquely suited for the task of spearheading the residential development side of the City Center Colwood project.

Prior to joining LEAGUE, Mr. Kallergis was a Partner at VIVO Development Partners in Phoenix Arizona, responsible for identifying, evaluating and managing development opportunities for luxury multi-family and mixed-use communities. Earlier, he was the Director of Forward Planning and Development for the Urban Series division of D.R. Horton Inc., a Fortune 500 homebuilder, developing condominiums, townhomes and neo-traditional single-family communities. Mr. Kallergis also served as a Development Manager with southwest regional firms Legacy Partners Residential and SNK Development where he managed the land acquisition, development and construction for a variety of product types including class ‘A’ multi-family rental, mixed-use, tax credit and tax-exempt bond financed projects in Arizona and Nevada.

Mr. Kallergis is a graduate of Arizona State University with a Bachelor of Science in Design in Housing and Urban Development.

Portfolio Operations

James Wallace, Vice President, Portfolio Operations

James Wallace’s role is to ensure operational effectiveness by implementing strategies, policies and practices to maximize return on investment. In addition, he ensures that LEAGUE’s existing properties, acquisitions, and investments continue to meet its exacting standards.

Mr. Wallace is an experienced and skilled manager who began his career in construction in the 1970s, working on numerous projects that required innovative teamwork and management to finish on time and on budget.

Prior to joining LEAGUE, he was a partner at the Red Viking Group for five years, consulting on worldwide business operations for several large international firms.

Development and Project Management

Donald Garner, Senior Vice President

Donald Garner is LEAGUE’s Senior Vice President in charge of Development and Project Management. He is responsible for the establishment of a development and construction department that will help facilitate LEAGUE’s transition from a manager to a full-fledged development and management firm.

He comes to LEAGUE with over 20 years of experience and responsibility for over $1 billion in design and construction.

Most recently, Mr. Garner was Senior Vice President of Development at Isakson Living, Inc., responsible for the management of a design and construction department. He oversaw the selection of engineers, architects, consultants and contractors. He also managed property evaluation, budgeting, scheduling, cost controls, quality assurance and entitlements. He led the design and construction of Park Springs, a $120M senior living community which won four national awards. Prior to this, he was Vice President of Construction at Isakson Barnhart Inc., where he organized and managed a construction department that was responsible for a full range of design and construction tasks.

Earlier in his career, Mr. Garner was Project Manager for L&B Construction Co. Inc. after which he became Project Manager for Village Centers, Inc. Following these roles, he joined New Market Development, Inc. to serve as Vice President of Construction, where he organized the company’s construction department, and was responsible for the construction of new developments as well as renovation projects across the United States.

Capital Markets & Risk Management

Jacco Kooy, Vice President Capital Markets

Jacco Kooy has been involved in the financial services sector for more than a decade, in Canada and in Europe.

At LEAGUE, he is responsible for interest rate risk management for the company’s various entities, as well as developing alternative investment funds and credit products.

Before joining LEAGUE, Mr. Kooy was Head of Foreign Exchange Trading at Cargill Canada's head office treasury division. Cargill is one of the world's largest trading companies. Prior to that, he worked for ABN AMRO Bank NV, a leading European investment bank, and REFCO Canada, (now MF Global) the largest independent commodity broker in North America, where he was responsible for the trading and sales of equities and derivatives to institutional and corporate clientele.

Before entering the financial field, however, Mr. Kooy used his skills in an entirely different risk-mitigating way. Serving in the Royal Netherlands Air Force, he had the responsibility of operating a Surface to Air Missile battery while stationed throughout Europe.

Acquisitions & Development

LEAGUE has three Acquisitions & Development specialists (including Founding Partner, Adam Gant), and a full-time in-house Project Manager. Together they are responsible for acquiring and developing quality commercial real estate properties throughout Canada and for performing the due diligence, financial and risk analysis required to acquire and develop the best-yielding investment properties for LEAGUE and its Member-Partners. Collectively, they ensure the IGW REIT is well-stocked with qualified properties and they help keep the development of those properties on track, and on budget. They are also charged with spotting investment opportunities for the specific purpose limited partnerships administered by LEAGUE.

Accounting and Administration

We consider each member of our current accounting and administrative teams vital to the organization not only because of their skills, but especially because of their personal commitment to excellence and their dedication to helping LEAGUE achieve its business goals so our Member-Partners can achieve theirs.

Legal Counsel

The experience and reputation of our legal team ensures that the financial interests of LEAGUE's Member-Partners are always protected.

Member Services

The Member Services team is committed to helping LEAGUE's Member-Partners achieve and maintain Intergenerational Wealth™ for their families. Each team member has different skills and resources they can bring to bear. They supply straight, unbiased information to help Member-Partners make informed decisions, independently.

Strategic Alliances

In every city in which LEAGUE has assets, we prefer to have our own "best people" on the ground. Sometimes, however, these "best people" are already employed elsewhere. In such cases, we use third-party specialists, taking advantage of the skills and technology that the local community can provide. This ensures that we not only have the best talent available, but helps us stay flexible during changing economic cycles. Additionally, having a third-party perspective is another way we ensure accountability and transparency in all our business affairs.

Property Management

To manage the day-to-day needs of its properties and the tenants that occupy them, LEAGUE contracts with several respected local and regional property management companies.

These experienced professionals are committed to effectively and profitably managing the operations of each of the properties LEAGUE acquires on behalf of its Member-Partners. Their duties include regular maintenance, and undertaking improvements to increase the value of the buildings and to enhance pride of ownership.

Property managers are also responsible for leasing, responding to tenant requests, collecting rents, paying taxes and expenses, and overseeing cleaning, garden maintenance, landscaping and snow removal.

Although property managers have a contractual responsibility to LEAGUE, their primary responsibility is to the tenants and their expectations, which are manifestly straightforward:

"Quiet enjoyment . . . assurance of the use of the premises for the intended purposes without interference from the landlord (save for emergencies), comfort, a living environment properly heated, cooled and ventilated with as many amenities as possible compatible with the rental level, security and safety . . . to live or work in a building in which there are no inherent defects or conditions that might be hazardous to health or to property . . . accommodation and facilities that meet social-economic and cultural standards for the tenants and their guests."

Currently, Gateway, Warrington PCI, Gulf Pacific, and Epic Realty Partners, are among our stable of property management providers. LEAGUE is pleased to have such an experienced group of professionals as partners. We are dedicated to their success, as they are to ours.

Asset Valuation

LEAGUE retains third-party valuation specialists to provide appraisal, property tax, and cost consulting services as needed for all the asset pools it manages. Thanks to the expertise and valuation experience they bring, Member-Partners can rest assured that trusted, specialized and completely independent updated appraisals are being provided.

These valuation services include:

• Periodic appraisals: each property will be appraised according to a consistent valuation method-replacement cost, income approach and/or market comparison.
• Replacement cost estimates for insurance purposes, thus ensuring that our assets are never under-insured.
• Property tax assessment reviews: the aim is to make sure that assessments-and the property taxes on which they are based-are reasonable compared to similar properties, and provide a basis of appeal where necessary.
• Determination of IGW REIT pricing NAV: the Pricing Net Asset Value (NAV) for the entire IGW REIT portfolio determines the price at which REIT units are issued. Pricing NAV is determined on a quarterly basis.

Beginning in 2009, and on an annual basis thereafter, appraisals of all properties of the IGW REIT portfolio will be consolidated annually into a single report. We will rely on these independent valuations, in conjunction with the audited financial statements, to determine the value of IGW REIT Units. This annual appraisal is supplemented by independent quarterly valuations of selected properties of LEAGUE's IGW REIT, which are used for the interim (quarterly) valuations.

What these services cost

Except in respect of residential properties, there is no cost to the IGW REIT for these services. Because the independent valuators analyze insurance and property tax assessment, their services are charged to the commercial tenants as Cost of Area Maintenance charges.