Independent Trustee and Chair of the Board
Commission Member of the Alberta Securities Commission

Karen A. Prentice is currently a Commission Member of the Alberta Securities Commission. From 1996 to 2005, she was a member of the senior executive team providing strategic leadership to ENMAX Corporation, an electrical energy company competing in the Alberta marketplace. Ms. Prentice’s achievements as Executive Vice President included the company being selected as one of Maclean’s Top 100 Employers in Canada and receiving three Building Owners and Managers Association (BOMA) Calgary Awards for the ENMAX Head Office development.

Ms. Prentice is an active contributor to the Calgary community having served on a number of boards, including the Southern Alberta Institute of Technology, The Y.W.C.A, and the Calgary Opera. She is currently a member of the Executive Committee of the Calgary Chapter of the Institute of Corporate Directors, the Chair of the Banff International Research Station for Mathematics and Innovation, and a director of the Alberta Capital Markets-Foundation and the Telus World of Science.

Trustee
President and Chief Executive Officer of CANMARC Real Estate Investment Trust

James W. Beckerleg served as a director of Homburg Invest from 2000 to 2004. Since 2005 and until very recently, he has provided consulting and management services to Homburg Canada in the area of strategic advice and planning, corporate finance, mergers and acquisitions and was, until recently, the Vice President Quebec Region of Homburg Canada. From 1995 to 2005, Mr. Beckerleg was President of Belwest Capital Management Corp., a private financial management and consulting firm. He had many previous years of experience in corporate finance, mergers and acquisitions and has served as an executive and director of several public companies including in the real estate sector.

He has a B.Sc (Mathematics) from McGill University (Montréal, Québec) and an MBA from Concordia University (Montréal, Québec).

Trustee
President & Chief Executive Officer of Homburg Development Corporation Inc.

Frank W. Matheson is a Director of Homburg Canada and was the Chief Executive Officer of Homburg Canada. He commenced employment with the Homburg group in 1985 as President of Homburg Insurance Inc. and has held many executive positions in the Homburg group, including as Vice President and Secretary of numerous entities within the group. He was Secretary of Homburg Invest at inception and was appointed President and Chief Executive Officer of Homburg Canada in 1991. Mr. Matheson has been active in the real estate industry since 1987. He is a member of the board of directors of Homburg Canada and of the board of governors of Saint Mary’s University. He also serves on the advisory board of the Sobey School of Business.

Trustee
Vice President, Finance and Chief Financial Officer of Homburg Invest Inc.

James F. Miles is Vice President Finance and Chief Financial Officer of Homburg Invest Inc. since October 2006. He is responsible for all financial aspects of Homburg Invest Inc. Mr. Miles holds a Bachelor’s Degree in Commerce from Dalhousie University (Halifax, Nova Scotia) and was admitted to the Institute of Chartered Accountants of New Brunswick in 1988.

He was employed at Grant Thornton LLP for ten years, where he provided audit and accounting services to clients ranging from owner/manager businesses to public companies. Mr. Miles is a member of the Institute of Chartered Accountants of Nova Scotia, the Canadian Institute of Chartered Accountants and the Financial Executives Institute.

Independent Trustee
President, Heuff and Associates Real Estate Advisors Inc.

Wayne Heuff is President of Heuff and Associates Real Estate Advisors Inc. and has over 25 years of experience in the real estate sector. In 2008 and 2009, he was Executive Vice President, Real Estate Investments (Chief Investment Officer) of Cadim, a division of the Caisse de dépôt et placement du Québec, where he was responsible for a $10 billion portfolio of diversified real estate assets located in North America, India and China.

Prior to 2008, Mr. Heuff was involved in the real estate advisory business with Heuff and Associates Real Estate Advisors, which he founded in 1995, providing advisory services mainly in the Province of Quebec and predominantly in the Greater Montreal Area.

Independent Trustee
Partner, EDEV Real Estate Advisors

John Levitt is currently a partner at EDEV Real Estate Advisors (“EDEV”), which he joined in 2005, and has over 25 years of experience in the real estate sector. EDEV is a multi-faceted real estate consulting company offering development management, strategic planning and transaction services to clients.

From 1997 until the sale of the corporation in 2005, he was a member of the senior management team of O&Y Properties Corporation with specific responsibility for O&Y’s acquisition and development programs, which over eight years grew from an asset base of $250 million to just over $2 billion.

Independent Trustee
Corporate Director

Gérard A. Limoges is currently a corporate director and sits on the board of directors of several public companies, including Aeterna Zentaris Inc., Hartco Inc., Noranda Income Fund, Hart Stores Inc. and Atrium Innovations Inc. He is also a member of the board of directors of private companies and not-for-profit organizations, including the Institut de Recherches Cliniques de Montréal and the Orchestre Symphonique de Montréal. He was formerly Deputy Chairman of Ernst & Young Canada until retirement in September 1999, after a career of 37 years with this firm.

He has a great deal of experience in the areas of accounting, audit, mergers and acquisitions, and has worked for clients in a wide range of industries including service companies, retail, communications, transportation, real estate, financial institutions, insurance, manufacturing and pulp and paper. He is a member of the Institute of Corporate Directors, of the Quebec Order of Chartered Accountants and of the Canadian Institute of Chartered Accountants. Mr. Limoges received the Order of Canada in 2002.