Team — Canyon Johnson Urban Funds

Canyon-Johnson has assembled a team of multi-disciplined professionals with direct real estate experience that add value to every step of the investment process. The team's extensive track record as an owner, developer, lender and operator of urban real estate has allowed Canyon-Johnson to establish an exceptional understanding of the disciplines necessary to successfully invest within urban communities.

Senior Management

K. Robert (“Bobby”) Turner - Managing Partner and CEO

Bobby Turner is the Managing Partner and CEO of Canyon-Johnson Realty Advisors, a member of the Fund’s Investment Committee, and the Chairman, CEO and Co-Founding Partner of Canyon Capital Realty Advisors, LLC (CCRA). CCRA is the real estate direct investing arm of Canyon Partners (Canyon), of which Mr. Turner is also a partner. Canyon and its affiliates are investment management firms and registered investment advisors headquartered in Los Angeles, California, with approximately $19 billion in assets under management.

Mr. Turner oversees all of CCRA’s real estate debt and equity investments utilizing an opportunistic philosophy of investing across all real estate asset classes and sectors of the capital stack, dynamically shifting asset allocation to generate alpha as market conditions change. With a focus on markets and transactions that are often overlooked, misperceived or difficult to underwrite, Mr. Turner has been a pioneer over the past decade in the area of “triple bottom line” investing - an investment philosophy of providing sound financial returns for investors, fostering opportunities for residents of the communities in which it invests, and embracing environmental responsibility. In addition to the Canyon-Johnson Urban Funds, these funds include the Canyon-Agassi Charter School Facilities Fund, a joint venture with Andre Agassi focusing on the development of learning-friendly, environmentally responsible charter school facilities for best-in-class charter school operators.

Mr. Turner serves on the Advisory Board of the Virginia Avenue Project, a Los Angeles based not-for-profit organization providing after school services for inner-city and at-risk youths, and on the Board of Directors of the Pacific Charter School Development Corporation, a Los Angeles based not-for-profit organization focused on providing underserved California students with high-quality charter school facilities. Mr. Turner also serves on the board of the Initiative for a Competitive Inner City (ICIC), a national not-for-profit organization founded in 1994 to promote a market-based approach and cutting-edge solutions for inner-city revitalization. Mr. Turner is an active member of the International Council of Shopping Centers (ICSC), the Pension Real Estate Association (PREA), and the Urban Land Institute (ULI). He is a graduate of the Wharton School at the University of Pennsylvania (B.S., Finance) where he and his wife have endowed a curriculum development fund and speaker series for social impact studies, and where he serves on the University’s Undergraduate Executive Board of Advisors.

Earvin “Magic” Johnson, Jr. - Partner

Earvin "Magic" Johnson, Jr. is a Managing Director of Canyon-Johnson Realty Advisors, a member of the Fund Investment Committee and the Chairman and Chief Executive Officer of Magic Johnson Enterprises ("MJE") and Johnson Development Corporation. Although Mr. Johnson is universally known for his illustrious, 13-year career with the National Basketball Association, he has redefined himself as a businessman with the objective to revitalize and provide quality entertainment and services to neglected, urban communities. In this role, Johnson encourages recognized business leaders to restore services to, as well as develop new business enterprises in, underserved communities throughout the United States.

Beyond his work with JDC (which is best known for establishing Magic Johnson Theatres and Starbucks Coffee Company in urban communities), Mr. Johnson heads Magic Johnson Entertainment, Magic Johnson Productions, and Magic Johnson Music. Johnson spearheads and engages in Company community relations and philanthropic endeavors. The Magic Johnson Foundation is a separate non-profit organization focused on addressing and improving the health, educational and social needs of inner-city youth and supporting related charitable organizations. A committed philanthropist, Johnson continually finds time to support worthy causes. As a United Nations Messenger of Peace, Johnson imparts to youth about drugs, violence and other important social issues. As a Muscular Dystrophy Association (MDA) Vice President and Event Chair for the annual Magic Johnson Sports Star Award Dinner & Auction, Johnson has helped MDA raise in excess of $1.5 million to support the Association's Los Angeles-area research, diagnosis, and community service programs. The Magic Johnson Foundation's Taylor Michael's scholarship program has enabled 3,000 students to attend nationally accredited colleges and universities. Johnson has also worked with the Make a Wish Foundation, United Negro College Fund, Starlight Foundation, American Heart Association and UrbanLeague. He was a United Nations Day Co-Chair and he currently serves on the Board of Trustees for the American Cancer Society Foundation.

Jonathan P. Roth - Principal

Daniel I. Millman - Principal

dmillman@canyonpartners.com

Daniel I. Millman is Principal of Canyon Capital Realty Advisors LLC and the Head of Asset Management for Canyon’s real estate platforms. In his capacity as Head of Asset Management, Mr. Millman is responsible for the oversight and management of Canyon’s portfolio of debt and equity investments as well as investor reporting associated with the portfolios. Mr. Millman is actively involved in all elements of each investment including (i) loan servicing, workouts and restructurings, and (ii) working with Canyon’s operating partners on equity deals in implementing design, financing, construction, leasing, sales and marketing, property operations, and dispositions. Additionally, Mr. Millman serves on the Investment Committee of the Canyon-Johnson Urban Funds and takes an active role in communicating with its Board of Advisors, as well as with Canyon’s investors across all of its real estate vehicles.

Prior to joining Canyon, Mr. Millman was most recently Vice President of Leasing and Asset Management for Center Trust, Inc., a publicly traded real estate investment trust (REIT). In this capacity he was responsible for overall income and value enhancement of retail real estate assets within the company’s portfolio. During his tenure at Center Trust, Mr. Millman led various redevelopment teams in areas which included design and architecture, entitlement, construction, legal, leasing and operations. Additionally, Mr. Millman created business plans for Center Trust’s portfolio of redevelopment and stabilized assets. Prior to joining Center Trust, he held various management positions with CenterMark Properties (formerly May Centers), a national shopping mall developer based in St. Louis, MO.

Mr. Millman is a member of the International Council of Shopping Centers, which has designated him a Certified Shopping Center Manager (CSM), Pension Real Estate Association (PREA), and the Urban Land Institute (ULI). He is a graduate of the University of Maryland (B.A., Economics).

Bari Cooper Sherman - General Counsel and Chief Compliance Officer

Acquisitions

Southwest

Charlie Rose - Vice President

Northern California/ Pacific Northwest/ Midwest

Marti Page - Director

Southeast

Ronald Muzii - Senior Director

Robin Potts - Vice President

Northeast/ Mid-Atlantic

David Ridini - Managing Director

Matthew Dicker - Director

Acquisition Support

Spencer Schlee - Analyst

Alexander Valner - Analyst

Asset Management

Maria Stamolis - Managing Director

Richard Bosworth - Managing Director

rbosworth@canyonpartners.com

Richard Bosworth is a Managing Director of Canyon Capital Realty Advisors LLC. Mr. Bosworth is responsible for the asset management of Canyon’s debt and equity investments in hospitality assets across the country.

Mr. Bosworth has over 29 years of experience in the real estate industry, with a focus on hospitality. Prior to joining Canyon, he was President (and founder) of NTH Advisory Group, LLC, a development and advisory company specializing in the casino, hotel, and restaurant industries. Prior to that, Mr. Bosworth was Chief Operating Officer of Bond Companies, a mixed use real estate development firm specializing in residential, commercial, and retail projects across the nation. Before becoming COO, he was the Managing Partner and President of BCL Hospitality Advisors, LLC, a subsidiary of Bond Companies, which provided consulting and investment-banking services for the hospitality industry. Prior to joining Bond Companies, Mr. Bosworth was Managing Director of Llama Capital Mortgage Company, a real estate finance company wholly owned by Alice Walton. At Llama, he was responsible for the origination and acquisition of commercial real estate debt and for overseeing the firm’s investment banking activities with an emphasis on hospitality transactions. Before joining Llama, Mr. Bosworth was Vice President of Commercial Real Estate Lending and Hotel Investments at Ocwen Financial (NYSE: OCN), a $3 billion financial services company and special servicer. At Ocwen, Mr. Bosworth was responsible for the Commercial Real Estate Lending Division as well as overseeing the operational management, renovation and repositioning of the company’s hotel portfolio. His supervision of hospitality investments assisted Ocwen in obtaining the highest special servicer rating possible.

Prior to overseeing institutional hospitality investments and lending programs, Mr. Bosworth spent many years in hotel and restaurant operational management holding positions with Marriott Corporation, Servico Hotels and Resorts, and Tara Hotels. Mr. Bosworth is the recipient of many national hospitality management awards. He is often a featured speaker at national commercial real estate and hospitality conferences.