Susanne M. Curran MAI, PP

PROFESSIONAL EXPERIENCE:

Twenty-five years experience in commercial real estate appraisal, review appraisal, market and feasibility analysis, land development planning, loan workouts and asset management.

1995 to Present:

CURRAN REALTY ADVISORS LLC
Princeton, New Jersey and Yardley, Pennsylvania

President. Prepare narrative appraisal reports, market and analyses and evaluations for commercial properties located in the metropolitan Philadelphia and central/southern New Jersey areas. Clients include major banks, attorneys, government and private investors. Perform desk and field appraisal reviews. Analyze site characteristics, planning, and zoning approval requirements as well as market feasibility of proposed projects. Prepare lease analyses and financial analyses, sensitivity analyses, risk analyses and discounted cash flow analyses for income properties. Prepare fiscal impact analyses of proposed projects. Serve as Expert Witness in litigation matters.

RESOLUTION TRUST CORPORATION
Valley Forge, Pennsylvania/Somerset, New Jersey

Review Appraiser. Prepared narrative desk, field, and administrative reviews of commercial appraisal reports. Collected and analyzed comparable data to calculate revised market value estimates for complex assets. Assisted Asset Managers with disposition strategies. Wrote appraisal instructions and presented training programs.

Reviewer-In-Charge/Oversight Manager/Asset Specialist. Managed recovery on $700,000,000 real estate and loan portfolio. Supervised credit decisions of outside asset management firms. Managed recovery on various real estate loan and OREO portfolios. Headed field review teams for asset recovery analysis and due diligence research.

CITY FEDERAL SAVINGS BANK
Somerset, New Jersey

Assistant Vice President. Managed recovery on $70,000,000 real estate loan portfolio. Negotiated with borrowers, analyzed financial statements, evaluated feasibility of project build-outs, projected recovery from workout vs. foreclosure scenarios. Wrote and presented recovery proposals to management boards.

Senior Major Property Appraiser. Prepared narrative appraisal reports for bank and outside clients on commercial properties and land valued at $1,000,000 to $120,000,000. Analyzed market trends and projected economic feasibility of office, retail, and residential projects. Prepared computer models of build-out and loan re-payment scenarios. Reviewed appraisals and qualified residential appraisers for Approved Appraiser List.

REIS REPORTS, INC. REAL ESTATE MARKET ANALYSIS (REIS.COM)
New York, New York

Senior Associate. Researched and wrote real estate market analysis reports on commercial, industrial, retail, and residential sectors including market supply, demand, absorption, and rental analyses for 15 major U.S. metropolitan markets. Prepared "Target Market" feasibility analyses studies for specific shopping centers. Traveled and interviewed major real estate investors and local government officials in nationwide markets. Prepared reports used by REITS, nation-wide banks and investors.

CLARKE AND CATON, INC. ARCHITECTS/LAND USE PLANNERS
West Trenton, New Jersey

Principal Planner. Municipal land use consultant to Readington Township, New Jersey. Reviewed development proposals, negotiated with builders, and coordinated recommendations with Township Engineer and Attorney. Presented reports and responded to questions at public meetings. Prepared Mt. Laurel affordable housing analyses and reports on municipal fiscal impact of development projects. Prepared bid proposals and met with potential clients.

BUCKS COUNTY PLANNING COMMISSION
Doylestown, Pennsylvania

Land Use Planner/Demographic Analyst. Managed staff development of decennial Land Use Report and US Census reports. Developed county and municipal population and employment projections using multiple regression analysis. Authored Land Use Report, Census Data Bulletins, and two published articles on development trends. Prepared reviews of zoning and development plans. Presented reports at public meetings.