BORGER MANAGEMENT INCORPORATED

Currently, our corporate office staff consists of a dedicated and experienced team of corporate officers, residential and commercial property managers, accounting department, and support personnel. Furthermore, we indirectly employ approximately 200 individuals at the various properties. These include community managers, building engineers, maintenance, porters, and concierge staff.

Borger Management, Inc. remains continually committed to the Washington, D.C. political and community environment. We have represented all of the local real estate trade associations in testimony at the D.C. City Council, especially in such areas as rent control, zoning, and consumer and regulatory issues. The principals have assumed leadership roles in the Apartment and Office Building Association, Washington D.C. Association of Realtors, Institute of Real Estate Management and numerous real estate related political and civic forums and committees. Our partners and clients include local, national, and international real estate investors, trade associations, pension fund advisors, and highly regarded local family partnerships.

Borger Management, Inc. was founded in Washington, D.C. in 1930 by the grandfather of the current stockholders and the company has been in continuous operation since then. For the past twenty-five years the firm has specialized in the renovation, management and development of multi-family and commercial properties in the Nation's Capital and the immediate suburban Maryland area. The principals have assumed leadership roles in the Apartment and Office Building Association, Washington D.C. Association of Realtors, Institute of Real Estate Management and numerous real estate related political and civic forums and committees. G. Thomas Borger, President of Borger Management, Inc. served as the 2002 President of the Metropolitan Washington Apartment and Office Building Association (AOBA).