John M. Lester

Local Investment Professional

Mr. Lester, age 64, has an accomplished career in real estate development, acquisitions, leasing and property management. He was also instrumental in the successful creation of the Fund's predecessor Funds. Since 1974, he has worked for industry leaders such as GE Capital, Trammell Crow Fund, Hines Interests, Weingarten Realty and Bradford Companies. His real estate career has been based in Texas, with a particular emphasis on Dallas and Houston over the past 10 years. He has supervised the management and leasing of over 5 million square feet of property. At GE Capital, the net operating income of properties under his control increased by 30% within the first two years of acquisition. He has been responsible for generating net profits from real estate sales in excess of $100 million. Acquisition teams where he served as a senior member have purchased over $2 billion in real estate assets. He has developed over 2 million square feet of new industrial and office projects with a value in excess of $100 million.

Mr. Lester graduated with an MBA in real estate and finance from the University of North Texas. He conducts seminars on leasing techniques and the development of financial models for new construction and re-developments. He is affiliated with the International Council of Shopping Centers, the National Association of Corporate Real Estate Executives and the International Association of Industrial and Office Parks. Mr. Lester has been the local principal to both Fund I and the Fund II Entities in the State of Texas.