EXECUTIVES

Michael S. Morgan
I Ronald Morgan
E. Alan Patton
Stan Levy
Louis H. Kuntz
Derek Empey
Jon C. Wood
Carter Bechtol
Kim Small
Rosalind M. McLeroy
Ric Shwisberg

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Michael S. Morgan              I. Ronald Morgan
Co-Chairman/CEO                 Co-Chairman/CEO

Michael S. Morgan currently serves as Chief Executive Officer and Co-Chairman of Houston based The Morgan Group, Inc. ("MGI").  His strategy of geographic diversification has led the company to complete properties in 7 states including Arizona, California, Colorado, Florida, Kansas, Tennessee, and Texas.  MGI currently has regional offices in Carlsbad, California and Orlando, Florida; with its corporate headquarters in Houston, Texas.

Michael is responsible for strategic planning, risk management, investment decisions and product development.

In conjunction with his day-to-day duties, Michael is Chairman of the Board of The Boys and Girls Club of Greater Houston and serves on the Board of Directors for the Holocaust Museum of Houston and Casa de Esperanza (Homes of Hope).  He is active professionally on the Board of Directors for the National Multi-Housing Council ("NMHC") and on the Multi-Family Council of the Urban Land Institute ("ULI").  In addition, he is on the executive committee for the Houston Chapter of the Young President's Organization and World's President Organization.

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Ronnie Morgan is a Principal and Co-Chairman of The Morgan Group, Inc. (MGI) as well as Chief Executive Officer of Morgan Construction, Inc.

In 1998, Ronnie moved to San Diego to spearhead the company's growth into the California market.  Since that time, MGI has become one of the largest private developers of institutional quality apartment communties in Southern California having completed over 2,900 units in 12 different projects.

Ronnie obtained a BBA degree with a major in real estate from the University of Texas at Austin in 1977 and a Doctor of Jurisprudence Degree from the University of Houston Law Centre in 1982.

Ronnie was the 1995 President of the Houston Apartment Association.  He is a National Commissioner with the Anti-Defamation League and former Board Chair of the ADL's San Diego Region.  He is also a full member of the Urban Land Institute, a member of the Board of Directors for the National Multi Housing Council, is a member of the Board of Directors at La Jolla Country Day School and was the 2005/2006 Chairman of the San Diego Chapter of the Young President's Organization.