The 2016 Capital Markets Update

As Chief Financial Officer, David manages the investment and financial strategy for the Company and its portfolio. David joined Parkway in 2011 as Executive Vice President and Chief Investment Officer. Prior to joining Parkway, David was a Partner and Executive Vice President of Banyan Street Capital where he led the firm’s investment activities. Prior to joining Banyan Street Capital, David served as the Chief Financial Officer and Director of Capital Markets for Eola Capital starting in August 2009. He also served as Senior Vice President in Barclays Capital’s Real Estate Investment Banking Group and was at Lehman Brothers in the same capacity for seven years. During his tenure in investment banking, David was involved in a broad range of financial advisory and merger and acquisition assignments, including leveraged buy-outs, initial public offerings, and single-asset and pooled CMBS transactions. David earned a Bachelor of Science in Civil Engineering from Tufts University and a Master of Business Administration from Columbia University.

Kris Miller, Ackerman & Co.’s President since 1998, sets the strategic direction for the firm’s investment, management and leasing initiatives. Under his leadership, the company has experienced consistent growth and diversified earnings, solidifying its standing as one of the leading full-service commercial real estate firms in the Southeast. To date, Ackerman & Co. has developed and acquired nearly 35 million square feet of office, medical, industrial, retail and mixed-use space; maintains an investment portfolio valued at $1 billion; and has 8 million square feet under management. Miller is a Certified Commercial Investment Member (CCIM), a Certified Public Accountant (CPA) and a Licensed Real Estate Salesperson in the State of Georgia. He serves on the Perimeter Community Improvement Districts Board, the Real Estate Investment Advisory Council (REIAC) and the Carter Center Board of Councilors. He is a Forum Leader of the Young Presidents Organization (YPO), past Program Chair of the Harvard University Real Estate Academic Initiative and President of the Silver Lake Association, an 80-acre, old-growth urban forest dedicated to green space preservation. He is also an active member of NAIOP and ICSC. A magna cum laude graduate of Harvard University with an A.B. in Economics, he also attended the London School of Economics & Political Science and Citicorp’s Institute of Global Finance and Management Program for MBA’s focusing on corporate finance, capital structuring risk management, and public and private capital markets.

Tim Perry is passionate about the power of community building and all the ingredients needed to create a great place: walkability, connectivity, hospitality, street-level energy, events and the right mix of uses. He deeply believes that fixing high-potential-but-challenged mixed-use developments or bringing new experience through additional neighborhood density is the best way North American Properties can give communities the great places they deserve. As Managing Partner, he is responsible for advancing North American Properties’ vision and strategy to acquire, reposition, and redevelop mixed-use communities as well as adding to the firm’s portfolio of fortress commercial properties. Tim has driven North American Properties’ acquisition strategy for over a decade ultimately serving as North American Properties’ Vice President of Acquisitions in 2009, Director of Investments in 2012 and Chief Investment Officer in 2015. He previously led the acquisition, due diligence, capitalization or disposition teams for landmark communities Atlantic Station, Avalon, Colony Square, Newport on the Levee, Birkdale Village and Avenue East Cobb; and the debt/venture capitalization through his career of over $2.5 billion of total value.

Lance Patterson is the CEO of Patterson Real Estate Advisory Group, LLC, which he founded in January 2010. Patterson is a capital placement and real estate finance advisory firm based in Atlanta, with additional office locations in Charlotte, Charleston, Dallas, Nashville and Tampa. Under Lance’s leadership, the firm now employs 25 full-time professionals and has closed more than 450 transactions representing approximately $11 billion in capital placement. Patterson is active in all asset classes and capital platforms, primarily throughout the southern United States with growing activities in the Mid- and Mountain West. PREVIOUS EXPERIENCE Immediately prior to forming Patterson, Lance served as President and Chief Operating Officer at Barry Real Estate Companies where he oversaw the company’s capital market activities and general administration. While at Barry, he was responsible for the financing, acquisition, and development of more than $1.5 billion of transactions. Lance’s career spans nearly 40 years in commercial real estate finance and includes experience as a banker, capital advisor, developer, loan guarantor and investor – all built on a foundation of deeply analytical capital skills. Over his career, Lance forged relationships across the capital markets and enjoys working closely with clients to help leverage great products through appropriate capitalization. EDUCATION Bachelor of Finance and Bachelor of German – University of Missouri Master of Business Administration – Washington University in St. Louis Robert Bosch Stiftung – Fellow in Bonn and Stuttgart, Germany INDUSTRY INVOLVEMENT Lance is past Chair of the Urban Land Institute (“ULI”) Atlanta District Council, ULI Atlanta Governance Committee and ULI Urban Development-Mixed Use Commercial Silver Council. He is currently a member of the ULI Atlanta Executive Committee. He has been on the boards of New Horizons for Children and Central Atlanta Progress, and is currently on the boards of TVS Design and The Atlantic Companies. He was also on the steering committee for the Terwilliger Center for Workforce Housing. In addition to his Series 63 and Series 79 licenses, Lance holds broker licenses in Georgia, Florida, South Carolina, North Carolina, Tennessee, and Texas. LIFESTYLE Lance is originally from Columbia, Missouri where he still has strong family ties. He resides with his wife in Atlanta, and together they enjoy an active love of travel. Lance has three grown sons with whom he spends as much time as possible, and has a growing number of grandchildren, soon to be four. He speaks fluent German and is a member of The Cathedral of St. Philip Episcopal Church.

James Kelly is a Director with Hunt Real Estate Capital. Mr. Kelly is based in the Atlanta office and is responsible for structuring and financing multifamily and commercial real estate through Hunt’s mortgage banking platform. Hunt offers Freddie Mac, Fannie Mae, and FHA executions as well as its proprietary products, which include fixed rate, bridge, and equity. Mr. Kelly has 21 years of commercial real estate experience in mortgage banking, securitization, underwriting, and asset management. Before joining Hunt in 2010, Mr. Kelly valued loan portfolios, failed bank assets, and distressed banks on behalf of private institutional investors seeking acquisitions. Prior to this role, Mr. Kelly was a Senior Production Associate at CWCapital where he focused on the origination of CMBS, Mezzanine, and Bridge loans. Mr. Kelly earned a Bachelor of Science degree in Finance from Virginia Tech. Mr. Kelly is an active member of the Real Estate Group of Atlanta (REGA) and the Real Estate Investment Advisory Council (REIAC).

An experienced commercial real estate advisor for over 20 years, Wesley is an Opportunity Zone National Leader and Audit Partner with Cherry Bekaert’s Real Estate & Construction industry group. Based in the Atlanta office, he provides guidance to clients on real estate tax credit transactions, pre-acquisition due diligence, purchase price allocation, tax mitigation structuring, real estate consulting and financial statement audits. Wesley’s technical ability encompasses an assortment of expertise with clients in the hotels and resorts, student housing, military housing, multi-family/affordable housing, and retail/office sectors. He also consults on equity rollups, public filing preparation and large-scale real estate portfolio acquisitions. In addition, Wesley has helped real estate holding companies, developers, contractors and private equity funds with transactions ranging from $25 million to $4 billion. Prior to joining Cherry Bekaert, Wesley led the Atlanta office and Commercial Real Estate Group for the Southeast for a Top 15 National Accounting Firm. He previously held various Board of Directors positions with local chapters of NAIOP, Central Atlanta Progress, and the City of Atlanta Chamber of Commerce. Additionally, he served on the Board of Directors for the Atlanta Chapter of the Urban Land Institute for five years (including three years as Treasurer) and was on the National Board of Directors for the National Multi-Housing Council. Wesley is a regular speaker at various real estate conferences around the nation.