John has developed proprietary processes for all aspects of real estate sales, leasing and development. He has development and transaction experience throughout the United States, and has worked with a wide variety of public and private institutional clients. John obtained his MBA from the McColl School of Business (the Executive MBA program at Queens College) and is a frequent participant in Harvard's Program on Negotiation.

John created Cardinal Real Estate Partners, LLC after working as senior vice president at Trammell Crow Company and International Airport Centers, an institutional real estate developer of airport cargo facilities owned by a top-five pension fund. He has been appointed to many boards throughout the industry, including the North Carolina Turnpike Authority (Chair of Plans and Programming), NAIOP, REBIC, the Mecklenburg/Union Metropolitan Planning Organization, the Charlotte Regional Roads Committee and the Charlotte City Club House Committee. He is also a member of the Urban Land Institute.

John values civic involvement and is an active member of his community. He is president ex-officio of the Queens University Learning Society, as well as a member of the board of visitors for Johnson C. Smith University. He has sat on the board of directors for the Children's Theatre of Charlotte and the development committee for Trinity Episcopal School.

John has been an enthusiastic participant in the Strategic Coach™ program since 2000.

He resides in Charlotte, NC, with his wife Leslie and their three active boys.

John Culbertson

101 South Tryon Street, Suite 2700

Charlotte, North Carolina 28202

Office: 704-953-5500

Cell: 704-501-7273

e-mail: jculbertson@cardinal-partners.com

website: www.cardinal-partners.com

Education:

MBA – McColl School of Business

Queens University, Charlotte, North Carolina

BS – Business Administration

College of Charleston, Charleston, South Carolina

Experience:

2006 - present

Cardinal Real Estate Partners, LLC

Charlotte, North Carolina

Owner, Founder, Partner

Cardinal Partners: founded commercial real estate firm in 2006 and navigated its successful growth. The firm has established its reputation for implementing proprietary and consultative processes for its institutional and high networth clientele.

Responsibilities: Owner, strategist, leader, business architect, business developer. Leading negotiator, strategic project management. Establish business choices and direction based on thorough market knowledge and sound expertise. Build and establish successful, well-managed processes that build trust and create client satisfaction for company-wide implementation. Additional specialties: due diligence, brokerage, problem solving, consulting, marketing and goal setting.

Accomplishments: Created successful business from start-up in two years. Recruited and put together tremendously talented leadership team with over 90 years of strategically diverse and applied commercial real estate experience. Created team construct and streamlined processes to ensure seasoned professionals have the opportunity to be creative while working together in the most effective platform possible. Established proprietary processes that have maximized results, created value, met client’s needs, increased volume and revenue. Negotiated win-win solutions for Cardinal clients. Produced strong revenue portfolio with diverse commercial real estate projects and client base.

2000 - 2006

CB Richard Ellis, formerly Trammell Crow

Charlotte, North Carolina

At the end of 2006 CBRE completed the acquisition of commercial real estate competitor Trammell Crow Company in a transaction valued at $2.2 billion. Trammell Crow, established in 1948 operating across the US and in Canada with diverse commercial real estate product expertise in areas such as industrial, office, healthcare, airport distribution centers, mixed use land development. John Culbertson – resume page 2

2001 - 2006

Trammell Crow

Senior Vice President of Industrial Development / Critical Facilities

Charlotte, North Carolina

Responsibilities: Promoted to Senior Vice President role to take on larger leadership responsibilities and navigate the company through the challenges of the commercial real estate market after 9/11.

Accomplishments: Provided stabilization and leadership for Trammell Crow’s southeast sector. Negotiated national telecoms projects. Nationally recognized for managing the disposition of Charlotte Coliseum for city of Charlotte, North Carolina. This high-profile project won acclaim in the national press for its leadership, ethicality and creative execution.

2000 - 2001

Trammell Crow

Vice President of Industrial Development / Telecom Facilities

Charlotte, North Carolina

Recruited into role to develop airport distribution centers and telecoms for Trammell Crow while stabilizing the overall business for the southeastern sector of the company. Promoted to larger role as Senior Vice President of Industrial Development/Telecoms after one year as Vice President.

1997 - 2000

AMB / International Airport Centers (IAC)

Chicago, Illinois/Charlotte, North Carolina

International Airport Centers, IAC operated as a $385 million dollar company managing a portfolio of transportation related cargo, warehouse distribution and office complexes, with over 7,900,000 square feet throughout the United States. IAC was sold to AMB in 2001.

1998 - 2000

IAC-Regional Director

Promoted to IAC regional role in 1998.

Responsibilities: Senior member of development team. Took on greater responsibility for Charlotte, New York and Boston regional development projects while adding responsibilities for projects in Detroit, Los Angeles, Chicago and Seattle. Total project management. Managed day-to-day development, leasing and reporting for projects. Multi-site, multi-project responsibility.

Accomplishments: Broad, successful institutional project management experience established with leadership of projects ranging from $1 million to $100 million. Large property/construction management with all project reporting, awarding of contracts, vendor management, relationship development, multiple site and project management, etc. Developed leading expertise in lease negotiations.

IAC Projects of note:

• 88 Black Falcon: 620,000 square foot facility renovation project in Boston. Converted World War II deportation warehouse into Class A office space. Successfully completed renovation, leased property and oversaw onsite management.

John Culbertson – resume page 3

• IAC-CLT Facility: Successfully led development and leasing team for 610,000 square foot airport commerce distribution and office facility in Charlotte, North Carolina through acquisition, entitlement and development (4 phases).

1997 - 1998

IAC-Leasing and Project Manager

Recruited into opportunity for strong project management background business ties to Charlotte, North Carolina and southeast.

Responsibilities: Headed up development and day-to-day on the ground construction management for Charlotte, North Carolina. Developed clientele. Wrote, negotiated leases. Made presentations. Awarded property management contracts. Over all vendor management for projects. Multi-phase management: created and executed many completely new management processes for IAC in this role.

Accomplishments: Successful professional transition from entrepreneurial-based commercial real estate development with smaller geographic project base to large, national commercial real estate company with institutionally based project development and management, broader project size and scope. Project management processes created became foundational to the IAC model and implemented successfully across the company and on a national basis.

1995 - 1997

Norcom Development

Charlotte, NC

Project Manager, Associate Developer

Norcom Development is a full-service commercial real estate company with primary focus on property management, development, leasing, brokerage and acquisitions for retail and industrial projects. Geographic concentration in the southeastern and mid-Atlantic states.

Responsibilities: Project management, land and office brokerage. Full cycle build-to-suit project management: proposal development and presentation, oversaw project development, supervised construction, facilitate/led neighborhood meetings and made presentations, oversaw leasing of facilities/properties. Multi-site project management. Projects ranged from $18 million to $25 million in size, scope and value.

Accomplishments:

• Park/Mecklenburg County Parks and Recreation: Successfully structured and planned project. Presented and won bid. Managed project development, supervised construction, made neighborhood presentations. Upon successful completion, leased park back to county.

• Tanglewood Commons, Clemmons, NC – shopping center.

• Poplar Crossing, Concord, NC - shopping center.

• CityView Commons, Charlotte, NC

Personally – John enjoys community and political involvement coupled with ongoing personal, professional growth:

• Board Member, North Carolina Department of Transportation Turnpike Authority;

Chairman of the Plans and Programming committee

• Member, Charlotte Chamber of Commerce-Charlotte Regional Roads Committee (RRC)

• Member, Board of Visitors, Johnson C. Smith University

John Culbertson – resume page 4

• Board Member, Mecklenburg Union Metropolitan Planning Organization (MUMPO)

• Former Board Member, Charlotte Association to National Association of Industrial and Office Properties (NAIOP)

• Former Board Member, Real Estate Business Industry Council (REBIC)

• Member, Charlotte City Club House Committee

• President, Queens Learning Society

• Worked with Harvey Gantt senatorial campaign. Administrative Assistant, fundraiser, traveling 73,000 campaign miles with senatorial candidate.

• Member, Urban Land Institute

• Board Member, Charlotte Children’s Theatre

• Harvard Law School, Negotiation Courses, professional/executive level courses

• Strategic Coach for Entrepreneurs, 2001 - 2008

John resides in Charlotte, North Carolina with his wife, Leslie and three active boys.

An avid skier, mountain bike racer with more than 50 races across the US, golfer, photography, traveling, and reading non-fiction and history.