Brochure from the Molasky Group of Companies, approximately 2010

The Molasky Group of Companies Multi-generational Talent and Creativity in Real Estate Development More than five decades ago The Molasky Group of Companies began a tradition of quality real estate development and management in the southwestern United States. Irwin Molasky, along with his children, Steven, Andrew, Alan and Beth, established a distinguished reputation for strategic land planning and progressive real estate development. Over the years, each member of the Molasky family has brought their own individually honed expertise to the company, creating a synergistic effect that has kept the company top in its field. The family has been, and continues to be, considered a primary influence in the continual growth of Southern Nevada, as well as western regional markets. Its impressive track record includes an innovative and highly marketable portfolio of retail, office, institutional, and residential properties. By overseeing every step of the development process, the Molasky Group ensures the merit of each project?from concept, to blueprints, to bricks and mortar construction, to sales and marketing, and property management. The Molasky Group of Companies takes pride in its approach with a first-class team consisting of topflight professional personnel, award-winning designers, and highly skilled and talented craftsmen. The company's quality and commitment to the community are unsurpassed. Its success lies in its ability to keep up with the times. In 21st century Las Vegas, that means MBA-style discipline, progressive diversification and other new ways of thinking about real estate development in this ever-changing market. More specifically it means that more trust is handed over to top ranking company officials whose last name is not Molasky. The strategic "Executive Team" for the Molasky Group is comprised of Richard S. Worthington (President and COO), Suzanne Sanders (VP Design and Development), and Bradley Sher (VP Finance and CFO). Verona Apartment Homes Molasky Corporate Center THE MOLASKY GROUP OF COMPANIES Park Towers Luxury Condominiums Sunrise Hospital THE M O L A S Small Beginnings to Landmark Projects Irwin Molasky holds one of the Las Vegas' oldest contracting licenses, obtained in the 1950s when he began building room additions and garage conversions. Over the ensuing years, Molasky, along with his children and strategic business partners, formed real estate companies in Nevada and California and developed thousands of homes, master-planned golf course communities, more than 20,000 apartment homes, several million square feet of Class A office property, "regional and neighborhood shopping centers, a 688-bed hospital, medical offices, institutional facilities, industrial parks and luxury high-rise condominiums. Committed to developing quality real estate properties that benefit the community at large, The Molasky Group of Companies' legacy includes many "firsts" for Las Vegas. In 1958 Las Vegas' first private hospital, Sunrise Hospital and Medical Center opened, and 30 years ago the state's first hospice, Nathan Adelson Hospice, was dedicated to serving the terminally ill and their families. The Boulevard Mall, which opened in 1967, was Nevada's first fully enclosed regional mall and offered more than 1,300,000 square feet of retail space, introducing to the marketplace major retailers Sears, JCPenney, Dillard's and Broadway department stores. The first Class A office tower in downtown Las Vegas, the 250,000-square-foot Bank of America Plaza, was built in 1976 and followed up with the 80,000-square-foot Bank of America West. In 2007, the 285,000 SF Molasky Corporate Center achieved LEED? Gold Certification by the U.S. Green Building Council, bringing the first "Green" building to the downtown Las Vegas redevelopment district. The Boulevard Mall KY GROUP OF COMPANIES I Tesora apartment community Capitalizing on Growth As the Las Vegas population grew, so followed the Molasky's residential developments. They built single and multi-family homes in the greater Las Vegas area, garnering top honors along the way. Outside Nevada, in Southern California, one of The Molasky Group of Companies created the most renowned golf course and resort community in the world: the prestigious LaCosta Spa & Golf Course and adjoining 6,000 acres of resort, residential and commercial properties encompassing a builder program with over 6,500 residential units. Irwin Molasky and his partners entered the entertainment industry and created Lorimar Entertainment, which produced award-winning television series such as "Dallas" and "Knots Landing" and Academy Award-winning films such as "Being There" and "An Officer and A Gentleman." Addressing the exponential growth in Las Vegas in the 1 980s and 1990s, the Molasky Group developed regional power centers, again introducing new retailers such as Best Buy, Ashley Furniture, Jo-Ann ETC., Bed Bath & Beyond, DSW Shoes, and Copeland Sports to Southern Nevada. They also built mixed-use properties such as Westcliff House office park and thousands of quality homes and apartments across the Las Vegas Valley. The company is credited with igniting the luxury high-rise market in Las Vegas with the opening of Park Towers, named by Town & Country as one of the five best places to live. 60 years of experience was called upon in creating the Molasky Corporate Center, Las Vegas' first LEED-Gold certified Class A office building. Continuing a tradition of community service, the Molasky Group of Companies is involved in public/private partnerships to build projects such as the Internal Revenue Service office building, Casa Grande transitional housing facility, Social Security Administration offices and Clark County Detention Facility. Casa Grande transitional housing facility SunMark Plaza power center Clark County Detention Facility Social Security Administration offices Public/Private Partnerships In a relatively short time, The Molasky Group of Companies has positioned itself to compete for build-to-suit deals and is now on the fast track for low-bid government contracts. New buildings for the Internal Revenue Service, the Social Security Administration, Nevada Department of Corrections, U.S. Secret Service, National Archives and Record Administration in St. Louis, and the Southern Nevada Water Authority are prime examples how the company uses state-of-the-art strategies to build cost effectively while offering a diversity of tenant-driven services. The Molasky Group has earned a reputation for skillfully managing design build projects for county, state and federal government agencies. The management team prides itself on "thinking outside the box" and providing unique and often demanding requirements and solutions to government needs. A proven low cost provider, the development team's primary focus is communication with the tenant. The company is large enough to be efficient and cost effective but small enough to be adaptable and highly responsive to tenant's needs. Molasky Corporate Center National Archives and Record Administration THE MOLASKY GROUP OF COMPANIES Molasky Corporate Center In 2007, The Molasky Group of Companies brought 285,000 square feet of Class A office space into the downtown market with Molasky Corporate Center. What is compelling and sets this building apart from other development in the valley is its Leadership Energy and Environmental Design (LEED) Gold Building certification. This makes Molasky Corporate Center one of only 200 such buildings worldwide and it is the first such certified Class A office building in the entire state of Nevada. Through innovative, state of the art strategies for site development, efficient water and energy systems, low maintenance materials, smart building controls and other cost-effective services and amenities, Molasky Corporate Center provides one of the highest quality work environments in downtown Las Vegas. Attracted by these amenities are Southern Nevada Water Authority, Las Vegas Valley Water District, three national law firms, Government Services Administration, and retail tenants 24-Hour Fitness, Jason's Deli, Bank of Nevada, and Java Detour. THE MOLASKY GROUP OF COMPANIES LEED CERTIFIED GOLD Commercial/Industrial and Special Purpose The Molasky Group of Companies' broad experience designing and building industrial projects ranges from flex business parks to special purpose developments such as Paradise Aviation and Las Vegas Aviation. These private jet hangars are on the last remaining parcels of available land at one of the world's busiest airports, McCarran International, Las Vegas. The company's commercial portfolio demonstrates its keen understanding of diverse tenant needs and an ability to deliver highly marketable product that meet high standards for architecture, aesthetics and functionality. Interior of Hangar Seven Hangar Seven Hangar Seven under construction Hangar Seven at Paradise Aviation, McCarran International Airport, Las Vegas THE M O L A S KY GROUP OF COMPANIES Acapella Apartments clubhouse Verona Apartments OVATION DEVELOPMENT CORP www.lasvegasliving.com Multi-Family Ovation Development is the multi-family development arm of The Molasky Group of Companies. Having built more than 20,000 units in Las Vegas since 1986, it has earned a reputation for continually raising the standard for apartment design and quality. With resort-style features, convenient locations and professional management, their communities enjoy consistently high occupancy and rental rates. Acapella Apartments model ^WERS AT HUGHES CENTER High-rise Development In the year 2000, Irwin Molasky and his family continued with its advanced approach to development and teamed up with casino executive Steve Wynn, a man synonymous with building the finest resorts in the world, and changed the Las Vegas skyline with the development of Park Towers. The twin 20-story towers include 84 stately residences, complete with resort-style services. A testament to elegance, luxury and cutting-edge architecture, Park Towers was named by the prestigious Town & Country magazine as one of the top five buildings in the United States. From blueprints to bricks and mortar, and sales and marketing, The Molasky Group of Companies maintains its uncompromising tradition of excellence in creating places where dreams are brought into sharp and striking focus. Condominiums/Homes Paradise Development and Pacific Homes were entities of the Molasky Group of Companies that were active in the Las Vegas homebuilding industry for decades. One of the largest builders during the dynamic 1980s and 1990s, Pacific Homes constructed over 4,500 homes and condominiums which netted several regional and state-wide awards for their elegant designs. Today Ocean Pacific in San Diego redefines beachfront living with highly-styled condominium properties. South Beach condominium home South Beach condominium home South Beach condominium home South Beach condominium home THE MOLASKY GROUP OF COMPANIES The Boulevard Mall SunMark Plaza Retail Since building The Boulevard Mall, Nevada's first fully-enclosed regional mall, in 1967, The Molasky Group of Companies has been known for building a superior product in premier locations and thereby attracting many national retailers to the Las Vegas market for the first time. Recent highly successful power centers include Best in the West (420,000 SF), Best on the Boulevard (250,000 SF), and Sun Mark Plaza (500,000 SF). The Molasky Group of Companies also has a reputation for being a good corporate citizen. In several locations they have revived an aging property by rebuilding with an improved layout, attractive architecture and solid tenants, breathing new life into a neighborhood. Best in the West Best on the Boulevard THE M O L A S KY GROUP OF COMPANIES Land Development Over a span of 58 years, The Molasky Group of Companies has been involved in developing 19,500 acres of land in California and Nevada. Their projects range from luxury golf course communities in sought-after locations to correctional facilities in remote areas. The Molasky management team combines a broad range of experience and talent to secure all necessary entitlements and to oversee design and construction as well as the installation of roads, sewers, utilities and landscaping. La Costa Resort and Spa Clark County Detention Facility THE MOLASKY GROUP OF COMPANIES Irwin Molasky; Chairman For more than 50 years, Irwin Molasky has played a significant role in the phenomenal growth of the Las Vegas valley. As Chairman of The Molasky Group of Companies, he has been an innovator in the creation of much of the Las Vegas skyline. In a city where being bigger, better and first are paramount, Molasky is known as a trendsetter. He and business partner Merv Adelson were responsible for the city's first private hospital, the 688-bed Sunrise Hospital Surgical Center & Medical Center, which now has 28 operating rooms and a nationally renowned neo-natal unit; Paradise Palms, the area's first master-planned community, which captured national honors; seven golf courses and their communities; thousands of apartment communities; the first high-rise office building in downtown Las Vegas, Bank of America Plaza; and designed and developed the state's first and largest enclosed shopping mall, the 1,350,000-squ a re-foot Boulevard Mall. In addition, Molasky brought many new nationally known "big-box" retailers to Nevada such as Best Buy, Borders Books and Barnes & Noble. He ignited the luxury high-rise condominium market with Park Towers at Hughes Center, which Town and Country named "one of the five best buildings in the United States." Most recently, Molasky set the tone for sustainable development with Las Vegas' first and largest LEED certified Gold building, the 17-story Molasky Corporate Center, home to the Southern Nevada Water Authority. A true community leader and entrepreneur, Molasky has made a number of influential contributions to Nevada, including building the state's first hospice, The Nathan Adelson Hospice, that serves the terminally ill and their families, regardless of their ability to pay. He and Merv Adelson were key figures in the development of the University of Nevada, Las Vegas through a donation of 45 prime acres of land at Flamingo Road and Maryland Parkway. Molasky also helped to locate McCarran International Airport at its current site and assisted with the land purchase for the Las Vegas Convention Center. In 1981 Molasky formed and became Founding Chairman of the UNLV Foundation, which to date has raised more than $700 million to provide support for students and faculty. He serves on the Board of the Future for the National Judicial College in Reno. Molasky was a founder and served as an Officer of the Board of Directors of Lorimar Entertainment, a conglomerate of television, broadcasting and print media. Molasky was featured in the book "The First 100," the Review-Journal's award-winning collection of biographies profiling 100 people who shaped Southern Nevada. He has been honored by the Lied Institute for Real Estate Studies and was recently inducted into the Nevada Business Hall of Fame. THE M O L A S KY GROUP OF COMPANIES Richard Worthington; President and Chief Operating Officer Rich Worthington has served as president and chief operating officer for Paradise Development Company and The Molasky Group of Companies since 1998. He is responsible for providing leadership and management to the overall operations of this highly diversified and prolific family-owned real estate firm that has been at the forefront of southern Nevada's growth for nearly 57 years. During his tenure as president of the company, Molasky Co. has initiated or completed construction on nearly $ 1 billion in projects including 2,700 apartments, 1,500,000 square feet of retail, 500,000 square feet of office, the 84-unit, $145,000,000 Park Towers luxury condominium project, the 285,000-square-foot, 17-story Molasky Corporate Center?Nevada's largest LEED? Gold certified office building, $40,000,000 in aviation facilities, the State of Nevada's first 400-bed re-entry facility for the Nevada Dept. of Corrections, as well as the recent completion of a 1,078-bed detention center which the company leases to Clark County. Worthington oversees a diversified portfolio of real property and various joint ventures with strategic partners. Worthington has worked with the Molasky family for more than seventeen years on various projects, including serving for six years as senior vice president, and later, president of Ritter Ranch Co., an affiliated company to Paradise Development and the developer of an 11,500-acre, 7,200-unit master-planned community located in north Los Angeles County. Prior to relocating to Las Vegas, Worthington owned an independent real estate consulting firm based in Los Angeles. Some of his former notable clients included Robert E. Peterson/Peterson Publishing; Bankers Trust Co.; CalPERS; Merv Adelson; Deutsche Bank; East West Capital Associates; Steve Wynn; and Si Redd, founder of IGT and owner of Mesquite Vistas, LLC, to name a few. Worthington also was retained as a consultant for several years with Deutsche Bank as a real estate workout specialist who completed various construction, financial restructuring, sale and litigation assignments on behalf of the bank in southern California, Shanghai China, Washington D.C., Florida, Maryland and Virginia. Prior to his association with the Molasky family, Worthington was a senior real estate advisor with the international accounting and consulting firm of KPMG Peat Marwick in Los Angeles. Worthington holds a Bachelor of Science degree in real estate development and international finance from the University of Southern California and has completed post-graduate courses related to real estate law, economics, appraisal and real estate company operations at the University of California, Los Angeles and Harvard University School of Design. He has actively participated in a number of industry organizations including BIA, ULI, CCIM, BOMA, ICSC, NAIOP, as well as numerous civic and governmental advisory boards relating to real estate and economic development issues. Worthington is a past member of the Las Vegas chapter of Young Presidents Organization ("YPO") and past advisor to UNLV Lied Center for Real Estate Studies. Worthington currently serves as an advisor to the El Cortez Hotel and Casino; the Executive Committee as well as the Board of Trustees for the Las Vegas Chamber of Commerce; Chairman and President of the Downtown Las Vegas Alliance; Board member of the Las Vegas Chapter of JDRF; member of the Board of Trustees for the UNLV Foundation as well as president of the Park Towers Homeowners' Association. THE MOLASKY GROUP OF COMPANIES Bradley Sher; Vice President and Chief Financial Officer Bradley Sher has an impressive and extensive background in finance and real estate. He joined The Molasky Group of Companies in 1998 as Vice President of Finance and in 2007 assumed the position of Chief Financial Officer. Sher manages all financial aspects for existing and to-be-developed projects, including analysis of new business opportunities, and is engaged in the management and accounting of the company's extensive portfolio of real estate holdings. Sher is charged with completing complex investment analysis, including valuation, transaction structuring and market analysis for new development projects and acquisitions / liquidations by the company. In addition, he leads the preparation of requests for proposals, investment memoranda and business plans to secure investor capital, bank financing and other forms of capitalization for projects. Prior to joining The Molasky Group of Companies, Sher worked as a Senior Analyst in the Real Estate Investment Banking Group of BT Alex Brown. It was during that time that he built a solid cache of knowledge of financial structuring for public and private enterprises. Some of his notable projects have included mergers and acquisitions for various REITs, underwriting/ managing new transactions for the CalPERS portfolio with a value in excess of $2 billion, private placements of both debt and equity, follow-on offerings of equity, venture capital investments, and tax-exempt bond offerings. Sher holds a Bachelor of Science Degree in Corporate Finance from The Marshall School at the University of Southern California, where he was recognized as the top graduating student for his year, and holds an MBA from the University of California, Los Angeles. He is a licensed California Real Estate Broker and holds NASD series 7 and 63 licenses (certification currently inactive). THE M O L A S KY GROUP OF COMPANIES Suzanne Sanders; Vice President Design and Development Suzanne Sanders leads the construction process for The Molasky Group of Companies. As Vice President of Design and Development, she and her staff are responsible for the coordination and implementation of architectural and engineering design, entitlements and permits, construction budgeting and cost control, bidding, contracting and management of the general contractors' daily operations. Ms. Sanders has worked at The Molasky Group of Companies for more than thirteen years. She completed the project management of the $47 million development of Best in the West, a 20-acre, 420,000 square foot retail power center in Northwest Las Vegas and the renovation of the Bank of America Plaza. She has also led the construction team through the successful development of Park Towers, which ignited the luxury high-rise condo market in Las Vegas and the Molasky Corporate Center, the first green Class A office tower in downtown Las Vegas, setting the tone for sustainable development in the valley. Sanders has more than 30 years' experience in planning, land development and construction, as a project manager and office manager of several interior design firms that specialize in the design, marketing and merchandising of residential model home complexes and exclusive single-family custom homes. Before joining The Molasky Companies, Sanders was employed by the J.M. Peters Company, Inc., the premier home builder in California, where she served as Director of Forward Planning, accomplishing the feasibility, engineering design and entitlement of numerous projects within Orange and Los Angeles counties. She is a an active member of local chapters of the following professional organizations: Urban Land Institute, Certified Commercial Investment Member (CCIM), US Green Building Council (USGBC), Commercial Real Estate Development Association (NAIOP), American Planning Association (APA), Commercial Real Estate Woman (CREW) and Building Owner Managers Association (BOMA). THE MOLASKY GROUP OF COMPANIES Jackie Crawford; Principal, Government Services Don't be fooled by her quiet demeanor. Jackie Crawford has seen life on the inside as warden at prisons in Nebraska, Arizona and Nevada and then as Director of the Nevada Department of Corrections. She knows what doing time is all about and how it takes its toll on inmates, state's correctional systems, communities and families. Today, as a principal of the Government Services division of The Molasky Group of Companies, she is championing new solutions to old correctional system problems with innovative design and build processes for facilities, alternative methods of financing and progressive programs to manage less violent offenders. Ms. Crawford started her career in the correctional system in the early 1970s after receiving her degree in Public Administration from the University of Nebraska and became warden for the Nebraska Department of Corrections before moving on to Arizona where she also served as a warden. In 1982, she moved to Las Vegas to establish and serve as director for the Las Vegas Department of Detention and Corrections. The Detention Center received national recognition as the first local jail system to receive American Correctional Association (ACA) accreditation. In the late 1980s she served Arizona's Governor Bruce Babbitt as the executive director for the Arizona Board of Pardons and Parolees and then court administrator for the Arizona Superior Court in Maricopa County. In 1995 she returned to Nevada as warden and then director from 2000-2005. Under her watch, Crawford managed 17 correctional institutions located throughout the state, 2,300+ staff members and a $400,000,000 bi-annual budget. During her tenure, the Department of Corrections was recognized by the Nevada Taxpayers Association and was nominated and was a finalist for the Cashman Award for Good Government. She has extensive experience working with architects and engineers, government leaders and correctional practitioners for the design and construction of adult and juvenile correctional facilities and community re-entry centers. She understands how good planning can serve the staff members of those agencies who must manage large groups of offenders or other special groups. Crawford is nationally recognized for her many contributions to the Criminal Justice profession. She has chaired several ACA committees, served as a Commissioner on the Accreditation Commission for two different terms and served a total of eight years on the ACA Standards Committee. This committee is responsible for setting standards for the operation of jails, correctional facilities for both adults and juveniles, community-based centers and many other types of facilities that require accreditation. She was also Commissioner of Nevada Peace Officers Standards and Training (POST). Early in her career she chaired a national task force and conducted research on the female offender that was published by the American Correctional Association Journal. The study was the impetus for establishing separate standards for the management of women offenders. Through the course of her career, Jackie has provided consulting services for more than 15 states. In 2005, Crawford was selected as one of eight Outstanding Women Public Administrators and received the prestigious Good Housekeeping Award. THE M O L A S KY GROUP OF COMPANIES Pamela Capko; CPA, Controller Pamela Capko has been with The Molasky Group of Companies since 1992. She brings over 20 years of finance, accounting and audit experience to the firm from public accounting, contracting and the gaming industry. In addition to her duties as controller, she acts as the family's independent trustee on a multitude of family revocable and irrevocable trusts. Prior to joining the Molasky family, Capko was the controller for Martin-Harris Construction, a general contractor based in Nevada with over 300 employees and was a senior accountant with Deloitte Haskins & Sells, where she specialized in hotel/gaming, real estate, airline and financial institutions. She holds her CPA certification from the State of Nevada and a Bachelor of Science degree in Business Administration, majoring in Accounting, from the University of Nevada, Las Vegas where she attended on a four year scholastic scholarship from American Business Women's Association of Nevada. She has completed numerous post graduate courses concentrating in real estate, tax and estate planning. Capko has served as president and secretary for the National Institute of Accountants, Las Vegas Chapter and has been involved in many civic, charitable and community organizations. THE MOLASKY GROUP OF COMPANIES Christina L. Natale; Senior Financial Analyst As Senior Financial Analyst for the Molasky Group of Companies, Christina Natale creates complex financial models and develops corporate-level analysis to provide strategic decision support to executive management. The feasibility studies she conducts and the professional presentations prepared assists in evaluating new opportunities and to assess existing projects for the Molasky Group of Companies. Projects include Molasky Corporate Center; Paradise Aviation; Las Vegas Aviation; Clark County Detention Facility; California Female Rehabilitative Community Correctional Centers; and California Male Secure Re-Entry Centers. Natale started her professional career as a Financial Analyst at CBRE|Melody, where she provided analysis and underwriting for potential loan requests including coordinating loan submission packages for Conduit and Life Insurance Companies. As a Las Vegas native, Natale graduated from The University of Nevada, Las Vegas and holds two Bachelor of Science degrees. Her first Major is Finance and her second Major is Commercial Real Estate. An active member in the commercial real estate industry, Natale is involved in Certified Commercial Investment Member (CCIM); Financial Executive International (FEI),National Association Industrial and Office Properties (NAIOP); and The LIED Institute of Real Estate Studies Natale donates her time to Candlelighters Childhood Cancer Foundation of Nevada. MOLASKY GROUP OF COMPANIES 100 N. City Parkway, Suite 1700 Las Vegas, Nevada 89106 Tel: 702.735.0155 Fax: 702.7377025 Web: www.molaskyco.com