The Management Team includes the following individuals:

Thomas A. Powers
Partner, Powers Realty, Development & Consulting, LLC
President, Powers Management Company, LLC

University of Hartford, BA Economics, 1982

Thom established Powers Realty, Development & Consulting, LLC in 2001 as a consulting company to real estate owners, developers, and equity investors. He is responsible for the strategic direction, new client development and operations of the Powers Companies. During his 26 year career, Thom has worked on all sides of the "real estate transaction". His experience includes ORE special asset recovery, private placement drafting, equity/debt financing and refinancing, entitlements, development and construction management, commercial leasing, asset and property management, and investment sales.

During the 1980's and early 1990's, Thom worked for 12 years for J&S Development and Management - a Connecticut-based asset and property management company that was a direct service provider to Recoll Management (the FDIC appointed trustee and receiver of commercial real estate assets taken over by the FDIC, and overseen by Fleet Bank). At J&S he honed his skills in managing and leasing foreclosed real estate, and developing operating systems and procedures for stabilizing and disposing of those properties.

In the mid-1990's Thom worked as an executive for the New Boston Fund - a Boston based series of investment funds - where he applied his ORE bank work-out strategies to acquire foreclosed and distressed assets. He assisted in raising $75m in equity from high-net-worth individuals/families and state pension funds. He was also involved in underwriting and acquiring $200m in distressed assets from fail savings & loans, insurance companies, commercial banks & lenders, pension funds and private investors in Florida, Indiana and New England. In 1998 Thom became the New England Chief Operating Officer for Wellsford Commercial Properties Trust, a majority owned Goldman Sachs/Whitehall private REIT company. At Wellsford Thom acquired $300m in corporate surplus real estate, and partially stabilized properties from owners who had acquired foreclosed assets from failed institutions during the mid 1990's.

Thom has also personally developed two properties. The first was an 8.5 acre parcel in Southeastern Massachusetts which he rezoned, subdivided and constructed two single family homes. The second is Old Colony Square at Cohasset Station, a $15m transit-oriented-development that includes 32,000 sf of retail space and 16 apartments. Thom acquired the site, permitted, co-master-planned, and subsequently sold the development to the Connell Company - a New Jersey real estate development company, which will finish construction in late 2009.

Christine M. Drevins
Partner, Powers Management Company, LLC
Partner, Powers Realty, Development & Consulting, LLC

University of Connecticut, BA Finance, 1985

Christine joined Powers Realty, Development & Consulting in 2001 and has seven years of experience. Prior to joining Powers Realty, Development & Consulting Chris was an associate with Advest Corporation's investment banking corporate finance group working on private placements, IPO's mergers and acquisitions and corporate valuations. At Powers Realty she has been responsible for project development, land acquisition and the construction of single family homes and an active advisor and consultant to the company's growth and expansion. Chris's duties include acquisition site analysis, acquisition cost analysis, property management supervision including accounting & reporting, project marketing and leasing and supervision of ongoing construction activities. Chris is also an associate with Coldwell Banker Cohasset where she markets and sells single family homes, condominiums and single family sub-division land on the south shore of Boston.