TREEMONT PARTNERS

Chief Executive Officer

Philip A. McRae is the Chief Executive Officer of Treemont Partners. Mr. McRae has over 30 years of experience serving in various leadership capacities in numerous industries for both privately held and publicly traded companies. Since 2013, Mr. McRae has overseen the daily operations of Treemont Partners focusing on its strategic investment strategy of premium branded Hospitality, Multi-Family and Student Housing projects.

Prior to being Chief Executive Office of Treemont Partners, he served as President of Moody National Companies, a full-service commercial Real Estate firm with Realty, Mortgage, Management, Development, Insurance, Title and Equity Fund divisions, as well as, a Publicly Registered Non Traded REIT and a captive Broker-Dealer. Moody National Companies owned almost $2 Billion of Real Estate; consisting of 67 premium branded Hospitality assets, 6 Commercial Office properties and 16 Multi-Family communities across the United States. Mr. McRae joined Moody National Companies in 2003 as president of the company when it had just 4 employees and no significant Real Estate holdings to facilitate its expansion from a small Mortgage banking firm into a large full-service Real Estate firm. During his tenure as president, the company grew to over 1,000 employees with offices in Houston, Austin, Dallas, San Diego and Beverly Hills. While at Moody National Companies, he was responsible for all facets of the daily operations of the company.

Prior to joining Moody National Companies in 2003, Mr. McRae was a Partner with Houston Partners Private Equity Group; a Venture Capital firm focused on Information Technology and Life Science investments with partnerships in Houston, London and Paris. During his tenure at Houston Partners, Mr. McRae specialized in assisting companies through the expansion phase of their business model to achieve the desired investment objectives.

Prior to joining Houston Partners in 2000, Mr. McRae was the Senior Manager of Business Analysis for Interliant Inc., a publicly traded provider of managed application hosting, Web hosting, enhanced Internet, and professional Consulting services. Mr. McRae joined the Interliant prior to their Initial Public Offering and participated in its rapid expansion during a period of unprecedented growth.

Prior to joining Interliant in 1999, Mr. McRae worked for Western Geophysical, one of the largest, publicly traded oilfield service companies in the world, as a Finance Manager from 1995 to 1999. While at Western Geophysical, he was responsible for the financial concerns for its Technology, Software Development and Research and Development divisions.

He began his career in 1992 at Owen Healthcare Inc. in its finance department, prior to its initial public offering, where he was responsible for creating and maintaining extensive financial forecasting models.

Mr. McRae received an MBA from the University of Houston in 1999 and a Bachelor of Business Administration degree in Finance from Texas Tech University in 1991.

He is married to Dr. Patricia Leonard who is an Allergy and Asthma doctor. Together, they have three children; Catherine (17), Caroline (15), and ) and Andrew (12) and live in Hunters Creek Village in Houston, Texas.