Douglas Arnold

Director of Acquisitions and Dispositions

Mr. Arnold, age 44, partnered with Mr. Puchi and joined Highline Group LLC in 1996. He acted as a principal in the creation of the Sponsor, and creation and management of Fund I and Fund II. He is responsible for developing the Sponsor's program for sourcing and acquiring properties. This program has allowed the Sponsor and its affiliates to be successful in the acquisition of under-valued assets. Mr. Arnold also plays an active role in the management of the Sponsor's real estate portfolio. This active management style has created value and reaped positive results for the Sponsor, Fund I, Fund II , their affiliates and investors.

Mr. Arnold has been responsible for sourcing and directing the acquisition of over $100 million of retail and industrial assets in six different markets. Prior to the formation of the Sponsor, the Highline Entities concentrated on retail value-add opportunities in Colorado. Mr. Arnold was responsible for sourcing and acquiring the properties, engineering the strategy to enhance value and ultimately selling of the properties. Capitalizing on this experience has enabled Mr. Arnold to execute Baceline's unique strategy in additional Midwestern and Southwest markets with the assistance of our Local Partners. In addition to breaking into new markets, Mr. Arnold has also been responsible for leading our Local Partners in creating the networks of buying and selling relationships in these markets that enable Baceline to execute its operational goals.

Mr. Arnold graduated with business and law degrees from the University of Denver. He practiced law in the real estate and litigation areas prior to joining the Sponsor. He also held a position as an enforcement attorney for the Securities and Exchange Commission. This experience adds further depth and vision to the Sponsor's business plan.