Direct Invest (Direct)

Direct Invest is co-owned by NPV DI, L.L.C. and LBDI LLC. Certain members of the Manager’s senior management team control NPVDI and LBDI is an affiliate of Lehman Brothers Holdings Inc. an international financial institution. LBDI is a stand-alone indirect equity investment of LBHI with its own at risk capital, and is not a financial liability or responsibility of LBHI. Since 1996, the Manager’s senior management team has acquired, developed and managed in excess of 5 million square feet of real estate valued at approximately $1 billion. Through the acquisition of over 50 buildings in major Northeast and Mid-Atlantic markets, over 2.5 million square feet of executed leases, over 3 million square feet of construction/redevelopment projects, more than $400 million of portfolio and individual asset financings, and over $500 million of asset dispositions, the Manager’s senior management team believes they have established a reputation for creating value and outperforming the market.