Real Estate Vice President

PETER J. HOFFMAN

** ******* ******

Chatham, New Jersey 07928

Home: 973-***-****

Cell: 917-***-****

**********@*******.***

PROFESSIONAL EXPERIENCE

LEND LEASE AMERICAS, LLC, NEW YORK CITY (February 2010 - Present)

Vice President/Transaction Manager, Integrated Capital Solutions Group

Structure and source third party debt and equity capital and negotiate

business terms of complex public-private partnership real estate

development projects typically in excess of $100 million in scope.

Coordinate with attorneys, investment bankers, municipalities and rating

agencies to negotiate and resolve structuring, tax, and acquisition

related issues in debt documents. Manage financial analyst,

development, design/build, and asset management teams to prepare

financial pro formas which ensure optimum capitalization and financial

structures for each project. Prepare responses to Requests for Proposals

and deliver oral presentations to clients and their financial advisors.

Serve as primary interface with providers of third party capital,

investment banks, and other capital market participants in bringing

transactions to operational and financial closing.

RANGEMARK INVESTMENT MANAGEMENT, INC., NEW YORK CITY (August 2009 -

February 2010)

First Vice President, Fixed Income Investors Credit Services

Key member of product design and development team that established suite

of web-based research and performance monitoring reports and forecasts

for fixed income investors in the specialized & thinly traded military

housing asset sector. Lead marketing relationship manager for several

institutional investor clients seeking thorough disclosure on underlying

deal fundamentals. Produce comprehensive transaction credit evaluations

and perform portfolio oversight on $8.0 billion in financings. Increase

deal transparency to buy-side investors by providing timely evaluations

of construction & development activity, analysis of leasing and

occupancy trends, discussion of revenue and expense trends relative to

pro-forma projections, explanation of project scope modifications, and

updates on factors impacting the demand for on-base housing, such as the

realignment of base mission or material events in the local housing

market.

AMBAC ASSURANCE CORPORATION, NEW YORK CITY (April 2005 - August 2009)

First Vice President, Public Finance Structured Real Estate Group

Underwrote financial guarantees on debt issued by public-private

partnerships, State Housing Finance Agencies, economic development

authorities, and public benefit corporations, facilitating efficient

capital access for issuers. Managed a portfolio of over $12.0 billion in

taxable and tax-exempt debt securities issued to finance: the

privatization of on-base housing for military families; privatized

student housing; low-interest mortgages to moderate income home buyers;

affordable rental housing finance with Low Income Housing Tax Credit

equity; and Federally-subsidized or insured multifamily housing.

Actively worked with issuers, bond underwriters, financial advisors, &

real estate developers to structure transactions that fit within Ambac's

credit risk parameters. Prepared credit underwriting analyses including

cash flow sensitivity tests, and presented risks and mitigating factors

to Ambac's Senior Credit Committee.

BNY CAPITAL MARKETS, INC., NEW YORK CITY (November 2004 - April 2005)

Vice President, Financial Engineering Division

Marketed The Bank of New York's credit and liquidity support products to

municipal issuers, with emphasis on achieving acceptable returns on risk-

adjusted capital; Managed portfolio of municipal credits encompassing

the housing, higher education, healthcare, general obligation, and

tender option bond sectors; Syndicated the Bank's risk exposures to

participant banks; Negotiated transaction structure and legal document

terms; Cross-sold the Bank's derivative, trustee and custodial services

to municipal clients.

MOODY'S INVESTORS SERVICE, NEW YORK CITY (August 1994-November 2004)

Senior Credit Officer, Public Finance Group (November 1999 -

November 2004)

. Member of Moody's Public Finance Rating Committee.

. Evaluated credit risk of housing bond structures, including mortgage

revenue bonds, privatized student housing financings, debt issued to

finance construction/rehabilitation of privatized family housing on

U.S. military bases, public housing capital grant securitizations,

and federally-insured or subsidized multifamily housing bonds.

. Quantified expected loss of mortgage pools by modeling portfolio's

size, diversity, and insurance characteristics and simulating

performance in severe economic scenarios. Assessed financial capacity

of issuers to honor unsecured obligations through financial statement

ratio analysis and evaluation of program risk profiles relative to

organization's overall financial condition.

. Lead rating analyst for State Housing Finance Agencies in California,

Oregon, Wyoming, Utah, Illinois, Florida, and Puerto Rico; maintained

current credit ratings on $12 billion in outstanding debt securities.

. Frequent speaker at national housing industry conferences on topics

including the impact of aggressive bond structures, the growing usage

of variable rate debt and swaps by housing agencies, and military and

student housing privatization financings.

. Published research targeted to issuer/investor community on rating

methodologies and credit implications of developments in the housing

finance industry, including:

V Rating methodologies detailing

Moody's approach to rating second-

lien mortgage bonds, credit-enhanced

multifamily transactions, and bonds

secured by USDA Section 538-

guaranteed mortgage loans;

V Bankruptcy considerations surrounding

collateralized investment vehicles;

V Credit impact of swap usage and

liquidity facility terminations in

rated variable rate transactions;

Senior Analyst, Municipal Structured Finance (August

1994 - November 1999)

. Rated municipal debt, corporate industrial revenue bonds, and

secondary market derivative securities with third-party credit or

liquidity enhancement; examined legal structures to ensure

transaction insulation from borrower credit risk.

. Negotiated terms of legal documents to achieve full credit

substitution and satisfy preferential payment and automatic stay

provisions of Bankruptcy Code; Ensured adequate preference-proofing

of funds, independence and enforceability of credit support, and

clear presentation of fiduciary responsibilities in relevant trust

documents.

. Developed expertise in unique structural and regulatory

considerations inherent in variable rate demand obligations including

liquidity adequacy, transaction tender features, and Rule 2a7

provisions.

. Lead analyst on major municipal tender option bond & puttable inverse

floater programs; Developed proficiency in evaluating integrity and

bankruptcy remoteness of special purpose vehicles and true sale

nature of asset transfers into structured entities.

NATIONAL WESTMINSTER BANCORP, NEW YORK CITY (July 1986-August 1994)

Assistant Vice President/Credit Analyst, Global Financial Services Group

(January - August 1994)

Responsible for credit risk analysis of international correspondent

banks and U.K. corporations with operations in the U.S. Prepared credit

proposals of working capital, trade finance, and cash management support

facilities.

Loan Officer Trainee, Career Development Program (May - December

1993)

Successfully completed intensive in-house credit training program

featuring classroom instruction and case study analysis. Special

emphasis placed on financial statement analysis to assess risks and

determine correct loan structures in light of borrower's profitability,

cash flow, liquidity, seasonality, and capital structure. Exposed to

broad array of credits in leasing, healthcare, real estate, retailing,

and manufacturing industries. Developed proficiency in pro forma cash

flow sensitivity modeling.

Operations Officer, Commercial Loan Department (April 1990 - April

1993)

Managed Financial Control, Reporting, and Compliance Unit (staff of

nine) with responsibility for internal risk control, oversight of a $1.1

billion non-performing loan portfolio, OCC regulatory reporting, and

compliance with Federal and state banking regulations.

Division Administrator, Wholesale Banking Operations Division (July

1987 - April 1990)

Developed annual operating and capital budgets of $18MM and $2.5MM

respectively; Monitored income and expense trends and presented

regularly to Senior Management on budget variances and reforecasts.

Management Trainee, Administration Officer Development Program (July

1986 - June 1987)

Completed selective officer training program, culminating in an internal

process reengineering report for Executive Management.

EDUCATION

Georgetown University, College of Arts & Sciences, Washington, D.C.

Graduated Magna Cum Laude in May, 1986; Bachelor of Arts in Government

with a minor in Economics.

Fordham University, Graduate School of Business Administration, New York

City.

MBA awarded February 1995; Concentration in Management Systems; G.P.A.:

3.98;

PROFESSIONAL CERTIFICATIONS:

NASD Series 7 Securities License

COMMUNITY INVOLVEMENT:

Chairman, Chatham Borough, New Jersey, Zoning Board of Adjustment

Serving second 4-year term; Consider testimony and vote on applications

by residents and business owners for relief from provisions of Borough's

zoning ordinances; weigh benefits and detriments of granting variances

against the intent of zoning ordinances and New Jersey Municipal Land

Use statutes.

REFERENCES:

Furnished upon request

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