Board of Directors

Pierre Wolf

Mr. Wolf is a founder and director of Real and also the founder of Corridor Capital Group LLC, a NASD registered Broker-Dealer and NFA Introducing Broker.

Previously, Mr. Wolf was a founder and Executive Managing Director since 1991 of the Derivative Products Group (DPG) for Fimat USA, a subsidiary of Societe Generale Bank. DPG is an academic and quantitative group specializing in structuring transactions for institutional customers in the financial marketplace. DPG consists of sixty professionals worldwide and it is considered by many to be one of the preeminent academic and quantitative groups in the alternative marketplace. In January 2007, Mr. Wolf through Corridor became a consultant to Fimat and the Derivatives Products Group.

Corridor acts as conduit to institutions that seek to build significant new revenue sources, to create new derivative and structured products, to source assets and to develop institutional client relationships. The company acts as a conduit to financial market participants to access institutional relationships in order to fulfill a particular strategic need. Corridor is currently developing several derivatives businesses in real estate, insurance, asset management and e-brokerage platforms with significant institutional partners.

Prior to Fimat, Mr. Wolf spent three years at Lehman Brothers as Vice President and part of the Jonas Group that specialized in structuring options transactions on central bank policy, trading option inefficiencies and institutional client distribution. Prior to 1987 Mr. Wolf was at Paine Webber where he developed institutional clearing services.

Mr. Wolf graduated early from George Washington University in 1982 with a BBA with concentrations in finance and marketing. He attended New York University Graduate School of Business briefly before accepting a full-time position after internship at CSA, researching equity index arbitrage. Mr. Wolf maintains NASD Series 3, 7, 24 and 63 securities licenses.

Neal Elkin

Neal A. Elkin is a founding member of Real and currently serves as its President.

Prior to joining REAL, Neal was the Executive Vice President/Chief Financial Officer of Real Capital Analytics (RCA), a national real estate research firm that focuses on the commercial real estate asset class.

RCA provides real time data, information and analysis of commercial real estate markets relevant to real estate capital markets including transaction values of commercial properties. RCA's data is the foundation of REAL’s Commercial Property Price indices. Mr. Elkin has been involved with RCA as a principal and joined the firm full-time in 2004. He remains on their Board of Directors.

Previously, Mr. Elkin spent 17 years at JPMorgan, where he worked in a variety of trading, risk management, and marketing functions. He spent 10 years working in the currency derivative business, ultimately running the Asia-Pacific team based in Singapore, Tokyo, Hong Kong, and Sydney. After returning to New York, Mr. Elkin created and marketed Emerging Asia fixed income and currency derivatives to US and Latin American hedge fund investors. More recently, Mr. Elkin led a team that helped Asian sovereign and corporate clients raise funds from US investors. He then shifted his focus to creating and marketing Latin American structured credit products leveraging Credit Default Swaps. In addition, he led the team that created TRAC-X EM, an index based on Emerging Market Credit Default Swaps.

Mr. Elkin holds a BS in Finance from the McIntire School at the University of Virginia and has passed his Series 7 and Series 63 exams.

Bradley J. McGill

Mr. McGill is a founding member of Real, and also a founder and CEO of DELTA Rangers, Inc. (DRI) since its inception in 2001. DRI is in the business of developing and commercializing the design of new derivative and financial products. Its industry partners include Credit Suisse, SG Fimat USA, New City Corporation, the British Bankers Association, and other leading financial and data firms.

DRI has been a key innovator in the financial industry currently holding rights to 14 pending patents. Products include commercial and residential real estate derivatives, providing liquidity and efficiency to the real estate markets; short-term binary options, including applications on short-term interest rates and Federal Reserve policy; credit default markets; energy products; and gaming industry applications. Please see www.deltarangers.com for more information on DRI.

Mr. McGill has been active in the development of the real estate derivative market during the last five years, helping to create products and liquidity to facilitate institutional trading on commercial real estate values. He has presented on this subject to a wide range of industry audiences, including MIT's Center for Real Estate, the Research Committee and Board of Directors of NCREIF, the CMBS New Products Conference sponsored by Morgan Stanley, the Homer Hoyt Institute, Real Estate Derivatives World 2008 conference, and the Urban Land Institute.

Prior to founding DRI, Brad was Vice President and Investment Management Consultant for the Brock-Hazzard Investment Group in Birmingham. Brad consulted to over $1 billion in client assets, including pensions, endowments, foundations, and high net-worth individuals.

Brad graduated from Emory University in Atlanta, Georgia, in 1989, with a joint major in history and political science.He has held Series 3, 7, 63 and 65 licenses.

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