Drew Fung

Biografía: Drew Fung #88503 August 23, 2002 DREW D. FUNG 84 Elmwood Avenue Rye, N.Y. 10580 (914) 967-6948 EXPERIENCE Feb. 2000- LEND LEASE REAL ESTATE INVESTMENT MANAGEMENT, INC., New York, N.Y. To Present Principal - Structured Finance Group Responsible for day-to-day operations and transaction activity for the majority of Lend Lease mezzanine investment initiatives. · Co-portfolio Manager for the LLFC Enhanced Yield Debt Fund, a $300 Million discretionary fund initiative that will invest in subordinate debt, preferred equity and real estate operating companies. · Originate and manage a transaction pipeline of opportunities that averages $500 - $750 Million. · Assist in raising investment capital, developing new investment products and new client investment programs. · Leading the initiative to increase mezzanine originations from Lend Lease platform including 18 regional offices, Bovis-Lend Lease and Holliday, Fenoglio Fowler. June 1997- BOSTON FINANCIAL GROUP, New York, NY Jan. 2000 Senior Vice President - Investment Banking Group Responsible for all Mezzanine investment activities including managing the transaction process, maintaining capital partner relationships, asset management and development of new mezzanine product initiatives. · Completed mezzanine transactions for office, multi-family, condominium, assisted living and mixed-use projects totaling over $500 Million. Structured additional joint venture equity investments in development projects totaling over $300 million on behalf of the Real Estate Development Fund. · Originate, structure, negotiate and close complex mezzanine transactions throughout the U.S. including: (i) developer/owner negotiations, (ii) underwriting, (iii) addressing capital partner underwriting issues and (iv) managing the investment committee presentation and approval process. · Instrumental in creating two separate mezzanine investment programs set up to invest in high-yield, opportunistic projects with a focus on development. Guided two different multi-billion dollar, non-US capital partners in creating their high-yield investment parameters and currently oversee the implementation of the strategy. · Extensive experience with a variety of capital structures; joint venture equity, mezzanine debt, UPREIT transactions and participating and non-participating first mortgages. · Maintain a wide network of relationships with leading regional owners/developers and construction lenders as well as public and private real estate equity capital providers. · Manage the mezzanine investment team as well as responsible for overseeing the operations of the New York Investment Banking Office (eight professionals, two support). Mar. 1989- EQUITABLE REAL ESTATE INVESTMENT MANAGEMENT, INC., New York, N.Y. May 1997 Vice President - New Business Group (1994-1997) Charged with providing a steady stream of compelling transactions for the investment consideration of various institutional clients. * Originated and underwrote over $1.0 Billion in equity acquisitions and more than $700 million in mortgage debt. Deal analysis included a full market study, assessment of financial condition, capital structure and operating performance plus environmental and structural reviews. · Directed and negotiated transaction documentation throughout the acquisition or lending process including term sheet, the purchase & sale agreement, guarantees, and loan documents. Drew D. Fung Page 2 EQUITABLE REAL ESTATE INVESTMENT MANAGEMENT, INC., New York, N.Y. (Continued) * Broad experience in quickly evaluating the economic potential of acquisition and financing candidates throughout the Tri-state area including office, industrial, retail and residential properties. Asset Manager (1992-1993) * Managed a portfolio of commercial real estate totaling over 2 million square feet, including office, industrial and retail property types. * Fully responsible for developing investment strategy, valuations, cash flow projections, budget approval, leasing strategy and hold/sell analysis. * Coordinated and approved strategic property management and leasing decisions including renegotiation of service contracts, tenant construction and real estate tax certiorari actions. Assistant Portfolio Manager/Mortgage Workout Specialist (1989-1991) * Restructured mortgage debt totaling over $100 million. · Coordinated implementation of workout strategies for the $11.0 Billion Equitable General Account mortgage portfolio. THE EQUITABLE FINANCIAL COMPANIES, New York, N.Y. Financial Management Associate Completed a rigorous two-year training program with rotations through Equitable's investment and insurance operations. Sep. 1988- Equitable Insurance Companies Business and Financial Planning Feb. 1989 Designed a computerized budget and expense forecasting model. Aided in creation of competitive analysis network allowing users to gather and effectively utilize information on external competitors. Mar. 1987- Equitable Capital Management Corporation Aug. 1988 Principally responsible for compiling, calculating, analyzing and reporting of Mandatory Securities Valuation Reserve (MSVR). Developed and implemented major improvements to the calculation process. Jul. 1987- Equitable Internal Audit Department Feb. 1987 Served as an Assistant Auditor on a variety of both insurance and investment audits. Learned fundamentals of real estate auditing and appraisal. Became conversant in critical financial control procedures. EDUCATION NEW YORK UNIVERSITY STERN SCHOOL OF BUSINESS, New York, NY Masters in Business Administration, September 1994 Major: Marketing and International Business with a concentration in Real Estate GPA: 3.3/4.0 Completed program while working full-time at Equitable Real Estate STATE UNIVERSITY OF NEW YORK AT ALBANY, Albany, NY Bachelor of Science Degree in Business Administration, Magna Cum Laude, May 1987 Major: Finance/Management Minor: English GPA: 3.4/4.0 INTERESTS Interests include sailboat racing, ice hockey and cooking.