> Executive Officers

Olander is the chief executive officer and chairman of the board of Apartment Trust of America, Inc. Until November 2010, Olander served as the chief executive officer, president and chairman of Grubb & Ellis Residential Management, Inc. and as the executive vice president, Multifamily Division of Grubb & Ellis Company. He has been a managing member of ROC REIT Advisors, LLC since January 2006. From 1996 until joining Grubb & Ellis in April 2005, Olander was president, chief financial officer, and a member of the board of directors of Cornerstone Realty Income Trust, Inc., a traded public REIT he helped found. Cornerstone owned more than 23,000 apartment units and was ultimately listed on the New York Stock Exchange with a market capitalization of approximately $1.5 billion. Olander holds a bachelor’s degree from Radford University and a master’s degree from Virginia Commonwealth University.

Remppies is the president and chief investment officer of Apartment Trust of America, Inc. Until November 2010, he also served as an executive vice president of Grubb & Ellis Residential Management and is a managing member of ROC REIT Advisors. Beginning in 1995, Remppies served as senior vice president of acquisitions for Cornerstone Realty Income Trust prior to being named its executive vice president and chief investment officer, a role he filled from 2003 until 2005. During his tenure with Cornerstone Realty Income Trust Inc., Remppies oversaw the acquisition and development of approximately 30,000 apartment units and the placement of more than $500 million in secured and unsecured debt with a variety of lenders. Remppies is a graduate of the University of Richmond.

Carneal serves as the executive vice president and chief operating officer of Apartment Trust of America, Inc. Until November 2010, Carneal also served as an executive vice president of Grubb & Ellis Residential Management and as a managing member of ROC REIT Advisors. From 1998 to 2005, he served in a number of senior management positions with Cornerstone Realty Income Trust, ultimately as its executive vice president and chief operating officer. Carneal has held various management and development positions with several other multifamily property management companies, including Trammell Crow Residential. Carneal earned a bachelor’s degree from the University of Virginia.

Ms. Lafon, age 40, previously served as the Company’s controller since December 6, 2010. Prior to joining the Company, from August 2008 to December 2010, Ms. Lafon was a consultant with VACO. From 1999 to June 2008, Ms. Lafon worked at UDR, Inc. (“UDR”), formerly United Dominion Realty Trust, Inc., and from June 2001 to June 2008, she served as UDR’s corporate controller, supervising the corporate accounting, financial reporting and payroll departments. From 1996 to 1999, Ms. Lafon was on the audit staff of Keiter, Stephens, Hurst, Gary & Shreaves, P.C. From 1994 to 1996, she was the senior internal auditor of First Virginia Bank, Inc. Ms. Lafon holds a bachelor’s degree in business administration from James Madison University.

Biller serves a director of Apartment Trust of America, Inc. She was formerly an executive vice president, secretary and general counsel of Grubb & Ellis Company. She previously practiced as a private attorney specializing in securities and corporate law, and with the U.S. Securities and Exchange Commission, including two years as special counsel for the Division of Corporation Finance. Biller received a juris doctorate degree from George Mason University School of Law, where she graduated with distinction. She is a member of the California and Virginia State Bar Associations and the District of Columbia Bar Association.

Bunting has been an independent director of Apartment Trust of America, Inc since December 2005. He is president of American KB Properties, Inc., which develops and manages shopping centers and president of G. B. Realty Corporation, which brokers shopping centers and apartment communities. Bunting is a director of Apple Hospitality Two, Inc., Apple Hospitality Five, Inc. and Apple REIT Six, Inc., and a former director of Cornerstone Realty Income Trust Inc., where he served on the audit committee.

Gary has been an independent director ofApartment Trust of America, Inc since December 2005 and is the chairperson and financial expert of its audit committee. In 1978, Gary co-founded Keiter, Stephens, Hurst, Gary and Shreaves, an independent certified public accounting firm based in Richmond, Virginia, where he has worked since its formation. His accounting practice focuses on general business consulting, employee benefits, executive compensation, estate planning and administration. Gary is a former director of Cornerstone, where he served as chairperson of the company’s audit committee. He is a member of the American Institute of Certified Public Accountants and the Virginia Society of Certified Public Accountants.

Johnson became an independent director of Apartment Trust of America, Inc in October 2009. He is president and chief executive officer of The Wilton Companies and its subsidiaries, which own, manage and operate a portfolio of real estate investment assets located in Virginia and North Carolina. From 1985 until December 2002, Johnson served as president of Southern Financial Corporation of Virginia, president of Southern Financial Title Corporation and co-owner of General Land Company of Virginia, Inc. In these positions, he was responsible for a variety of aspects of owning, managing and operating a portfolio of real estate assets located in central Virginia. Johnson is a member of the board of directors, audit committee and investment committee of First Community Bancshares, Inc. and First Community Bank, N.A. He also serves as a member of the board of directors of Fidelity Group, LLC, the board of trustees of the University of Richmond, the board of directors of The State Fair of Virginia, Inc., and is a director emeritus of Ducks Unlimited, Inc. Johnson also serves as chairman and chairman of the executive committee of the Economic Development Authority of the City of Richmond, Virginia.