Wataru Orii
President & Representative Director

<Biography>

TOKYU LAND CORPORATION

Pacific Management Co., Ltd.
Director in charge of Investment Planning Headquarters
Director in charge of Sales Headquarters
President &
Representative Director

Ichigo Inc.
Managing Executive Officer and General Manager of Sales Strategy Department
Executive Officer and Deputy President of Sales Strategy Department

Ichigo Investment Advisors Co., Ltd.
Representative Director
Director
Executive Chairman

ES CON JAPAN Ltd.
Executive Officer
Deputy General Manager of Development Business Division
General Manager of Business Strategy Division

Hiroshi Tokunaga
Director
Compliance Officer
General Manager of Compliance Dept.

<Biography>

Mizuho Trust & Banking Co.,Ltd.

XYMAX Corporation

XYMAX REAL ESTATE INVESTMENT ADVISORS
Corporation Compliance Officer

afterFIT Co.,Ltd.

ES-CON JAPAN Ltd.
Deputy General Manager, Legal Dept.,
Management Division

Masataka Shimaoka
Director

<Biography>

Chubu Electric Power Co., Inc.
General Manager of Group Company Management Support Dept.
Corporate Management Division(Current position)

Himawari Network Inc.
Director(Current position)

Chuden Wing Co., Ltd.
Corporate Auditor(Current position)

Masaki Sakamoto
Director who is a member of the Audit and Supervisory Committee

<Biography>

Counsellor, First Department, Cabinet Legislation Bureau

Director, Examination Division, Inspection Bureau, Financial Services Agency

Director, International Division, Planning and Coordination Bureau, Financial Services Agency

Director, Coordination Division, Inspection Bureau, Financial Services Agency

Financial Stability Supervisor, Kinki Finance Bureau

Director, National Life Financial Corporation

Special Counselor, National Life Business Division, Japan Finance Corporation

Counsellor Minister's Office, Ministry of Finance

Director General, Tokai Local Finance Bureau

General Manager, General Affairs Department, Deposit Insurance Corporation of Japan

Director General, Kanto Local Finance Bureau

The Resolution and Collection Corporation
Adivisor

Saikyo Bank Co.,Ltd.
Director who is a member of the Audit and Supervisory
Committee(Current position)

Hiroshi Matsumoto
Director who is a member of the Audit and Supervisory Committee

<Biography>

Maxell, Ltd.

KPMG AZSA LLC
Partner
Chairperson, National Association of Partners

Hiroshi Matsumoto Certified Public Accountant Office
Representative Director (Current position)

TSURUMI MANUFACTURING CO.,LTD.
Director who is a member of the Audit and Supervisory
Committee (Current position)

The Royal Hotel, Ltd.
Corporate Auditor (Current position)

Megumi Nakadozono
Director who is a member of the Audit and Supervisory Committee

<Biography>

Recruit Co., Ltd.

QUIN LAND Co., Ltd.

BB Net corp.
Manager, Corporate Planning Department

ES-CON JAPAN Ltd.
General Manager, Management Dept.,
Management Division (Current position)
Executive Officer (Current position)

Takashi Tetsuya
Senior Executive Officer
General Manager of
Reit Asset Management Dept.

<Biography>

Senior Manager,Joint Asset Management CO.,LTD.

Pacific Residential CO.,LTD.

Pacific Commercial CO.,LTD.

MK Capital Management Corporation

AD Investment Management Co.,Ltd.
Team Leader

List Asset Management Co.,Ltd.
Investment Manager

Refrel Co.,Ltd.
Representative Director

Kenichi Tanaka
Senior Executive Officer
General Manager of
Finance and Control Dept.

<Biography>

MAP KEIEI Inc.

Universal home Inc.

Pacific Holdings.inc
Managing Executive Officer
Corporate Planning Division General Manager

Global Juhan Co.,Ltd.

Ichigo Inc.
Executive Officer
Finanace Division Deputy Manager and
Manager of Business Development Dept.

ES CON JAPAN Ltd.
Senior Manager, Corporate Planning Dept.,
Strategic Business Division and
Senior Manager, Finance & Accounting Dept.,
Management Division

Masahiro Tashima
General Manager of
Investment Marketing Dept.

<Biography>

GRACCHUS & ASSOCIATES, Inc.

Aetos Japan LLC

Ichigo Inc.

Ichigo Investment Advisors Inc.
Sales manager

CBRE K.K.
Associate Director, Asset Management Dept.

ES CON JAPAN Ltd.
Manager, Corporate Planning Dept.,
Strategic Business Division