COMPANY OVERVIEW

P&F Management Company, LLC, is a multi-faceted real estate investment and development company specializing in the acquisition, repositioning and redevelopment of underutilized real estate assets and portfolios as well as real estate-backed securities, including tax liens. The company, which serves owners, lenders and developers, aggressively pursues distressed assets in all class categories. Each of the company’s properties demonstrates the potential for exceptional value realized through reorganization or repositioning.

As a leading stable source of equity, P&F also provides mezzanine financing. Additional services include real estate development, sales and marketing and back-office financial reporting. The company owns, operates and develops $250 million in real estate assets and is the flagship for its affiliates, Maplewood Homebuilders, formed in 2007 to facilitate the acquisition of the Kara Homes portfolio through bankruptcy, and Dornoch Holdings, LLC, which focuses on urban redevelopment.

HISTORY

Established in 2005, P&F was formed as a joint venture of Glen Fishman of Fishman Real Estate Enterprises and Plainfield Asset Management, a $4 billion hedge fund based Greenwich, Conn. Both firms remain among the company’s leading investment partnerships, which include an impressive roster of seasoned individuals and entities.

Comprised of a talented team of professionals who possess extensive construction experience, market knowledge and management expertise, P&F excels in the reorganization and repositioning of distressed projects through recapitalization. Since 2007, P&F has acquired more than 1500 residential units, many of which have been built out and sold despite the current economic downturn.

The company also has substantially increased its real estate portfolio in recent years with the acquisition of Foxtons, N.A., LLC, which filed for Chapter 7 Liquidation, and Kara Homes, LLC, which filed for Chapter 11 reorganization. Currently, the company is pursuing distressed properties in New Jersey, as well as the New York metropolitan area suburbs, through traditional acquisitions and joint venture relationships.

PHILOSOPHY

P&F Management’s transactional goal is to maximize the value of each asset by providing a high rate of return, with minimal risk. The company’s focus is residential and commercial development in New Jersey, specifically targeting single-family projects of 25 homes or more as well as multi-family projects comprised of more than 50 units. Commercial pursuits involve office, retail and mixed-use projects exceeding 50,000 square feet as well as single property transactions ranging from more than $3 million to entire portfolios valued at $50 million.