FROM: Jonathan Rose Companies

551 Fifth Avenue, 23rd Floor New York, NY 10176

CONTACT: Great Ink Communications – 212-741-2977

Roxanne Donovan: Roxanne@greatink.com Eric Gerard: egerard@greatink.com

FOR IMMEDIATE RELEASE

Jonathan Rose Companies Names Michael Arman CFO * * *

Multi-Family Asset Veteran to Manage Fund Portfolio, Investor Relations for Leading Green Real Estate Development, Investment and Project Management Firm

(New York, NY – October 12, 2016) – Jonathan Rose

Companies, LLC, a leading green real estate

development, investment and project management firm,

has named Michael Arman Chief Financial Officer

(CFO). In addition to his responsibilities as CFO, he will

oversee the firm’s investment funds. The

announcement was made by Jonathan F.P. Rose, the

company’s president.

“Michael shares our company vision of creating

and preserving affordable communities of opportunity

that deliver economic, environmental and social returns

for our investors, our residents, and communities in which we work," Mr. Rose said. “We are

so pleased to have someone of his character and capabilities join our firm.”

Most recently, Mr. Arman served as CFO of Procida Funding, a private equity

mortgage fund. Prior to Procida, Arman was a founding member and Managing

Director of Hudson Realty Capital, a private equity real estate firm that invested in

assets valued at over $3.8 billion. While there, he served as Chief Financial Officer

and managed all of Hudson Realty Capital's financial assets, working to optimize

returns. Arman was also a founding member of Newbridge in 2001, one of the

predecessor companies of Hudson Realty Capital.

Prior to Newbridge and Hudson Realty Capital, Mr. Arman was a Vice

President at CSFB and a member of its Portfolio Bids Group, where he was

responsible for financial reporting, integrating information with internal support

departments, maintaining third party vendor relationships with servicers, accountants,

and insurers and performing asset management duties. Prior to joining CSFB in 1998

Arman w a s a Portfolio Financial Manager for the J.E. Robert Companies, where he

supervised accounting, servicing and financial reporting for institutions.

“Jonathan Rose Companies has established a terrific track record in the preservation,

greening and development of affordable and mixed income projects, an area in which there is

a tremendous opportunity for growth,” said Arman. “I am looking forward to being part of this

expansion.”

Arman began his professional career with Deloitte & Touche as a Staff

Accountant, performing audits on real estate and brokerage companies. He

r e c e i v e d his MBA from the University of Connecticut and received his BBA from

Iona College. Arman is a Certified Public Accountant and a member of the AICPA.

About Jonathan Rose Companies LLC: Jonathan Rose Companies, Inc. is an award-winning real estate investment, development and project management firm whose mission is to repair the fabric of communities. The firm is nationally recognized for its ability to achieve visionary goals through practical, duplicable strategies. The firm acquires, develops, and acts as a consultant to assist not for profits with transit-oriented, green, mixed-income residential, innovative office, civic, education and health serving projects. Jonathan Rose Companies has developed more than $1.8 billion of real estate projects from offices in New York, Connecticut, Colorado, the Pacific Northwest and New Mexico. For more information, visit www.rosecompanies.com.

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