Principal of Steven Michael

Steven Michael, Principal As a founder and principal of Hudson Holdings, Steven Michael is responsible for the execution of the company's vision. Adding value to projects through multiple avenues, the principals of Hudson Holdings have bought and built over 4,000 residential units and 3 million square feet of commercial space, including numerous dining and hospitality projects. Steven brings his knowledge and expertise on construction, property management and property operations to the Hudson Holding's team. Steven began his real estate career in 1986, when he and his brother Mark founded JMS Development & Management Co. in Chicago, Illinois. With over 60 years of combined experience, the JMS team developed and acquired over 20 projects throughout Chicago and South Florida. The core strategy employed at JMS focuses on the acquisition of assets in strong locations that have a long-term outlook. JMS adds value through construction, re-positioning and an intense focus on management. Steven continues to own his stake in JMS. Steven had an extensive career as a trader and investment fund manager. Steven began his financial career with the Chicago Board of Trade. He developed proprietary models which he used to trade successfully in the yield curve instruments before expanding into the IMM. Steven has also been a member of the Chicago Board of Trade, the Chicago Mercantile Exchanges and the Mid-American Exchange, where he sat on a number of member committees. In 2000, Steven joined forces with the head macro analyst at Soros Quantum Fund to form Macro und, a global macro fund. In 2001, he sold his interest in Macro to concentrate on his real-estate investments. Steven has been an Adjunct Professor at Florida Atiantic University and regularly lectures to graduate level students at both Florida Atlantic University and University of Miami. HEUPSON HOLDINGS 20 S. Swinton Avenue Delray Beach, FL 33444 STEVEN A MICHAEL PRINCIPAL T. 561.768.7621 C. 561.594.0799 F 561.266.3413 [email protected] www.hudsonholdings.com Hudson Holdings Page 44 Sample of Mr. Michael's past & current projects 3926 Touchy Avenue - Ground-up construction and lease-up of a commercial retail space in Lincolnwood, IL 4864-4872 Dempster – Ground-up construction, lease-up and management of a commercial retail center in Skokie, IL • 4868 W. Dempster - Ground-up construction, lease-up and management of a mixed-use retail and office project in Skokie, IL 4878-90 Dempster - Ground-up construction, lease-up and management of a commercial retail center in Skokie, IL 5000-20 Dempster - Ground-up construction, lease-up and management of a commercial retail center in Skokie, IL • 5011 Oakton Street - Purchase and rehabilitation of an existing building into commercial retail spaces which were successfully leased-up and sold in Skokie, IL 5832-40 Dempster - Ground-up construction, lease-up and management of a commercial retail center in Morton Grove, IL 5842-50 Dempster - Ground-up construction and lease-up of a commercial retail center in Morton Grove, IL • 5920 Dempster - Development and lease-up of a mixed-use retail and office center in Morton Grove, IL 670 Waukegan Road - Conversion of a gas station and construction and lease-up of a commercial retail center in Deerfield, IL • 6th Avenue Apartments – Purchase and management of a residential community located in Boynton Beach, FL 9000-9480 Ballard Road – Purchase, lease-up and further construction of a retail center. This property was constructed without debt, on spec, in Park Ridge, IL • 9239 Gross Point Road - Development and lease-up of a commercial office complex in Skokie, IL Atlantic Ave Development, building 200,000 square feet of office and retail, acquired for $23,000,000 – project total $100,000,000 in Downtown Delray Beach, FlI • Gulfstream Hotel – Renovation of 115 room historic hotel. Construction of a beach club, convention space and an additional 150 hotel rooms acquired for $7,300,000 - project total $90,000,000 in Lake Worth, FL • Lake & Waukegan - Purchase of a 5-acre parcel, entitlement and construction into a commercial retail center in Glenview, IL • Linton Land -1 acre of vacant land acquired for $750,000 in Delray Beach, FL. Linton Towers 60,000 square feet office building acquired for $6,050,000 in Delray Beach, FL • Ocean Breeze - construction of 220 apartments, retail and medical office project total $30,000,000 in Boynton Beach, FL • Palms of Delray - Purchase of a 50-unit townhouse rental community and further construction of additional units. Lease-up and management of the property. Delray Beach, FL Sundy House - acquisition of famous restaurant, botanical gardens and boutique hotel acquired for $7,300,000 - project total $90,000,000 in Delray Beach, FL • Presidential Plaza – Purchase, additional construction, lease-up and management of a Walgreens-anchored retail center in Hollywood, FL • Winn Dixie Shopping Center – Purchase, additional construction, lease-up and management of a Winn Dixie-anchored retail center in Miramar, FL Hudson Holdings | Page 45