JACK M. NAGEL

Chairman

Jack M. Nagel is a Los Angeles Real Estate Developer and Investor whose life serves as a testament to the limitless achievements one can obtain through hard work, focus, and drive despite almost insurmountable odds. A Holocaust survivor born in Poland, he came to the US in 1947 without any parents or family to speak of (Jack has one surviving sister) and only a high school education. Shortly following his arrival on a school Visa he pursued both an education and a drive for business success. He attended classes at NYU and lived in New York as a businessman in the import/export trades. Following his marriage to Gitta Nagel he moved to Los Angeles in 1955 where he established the Nagel Construction Company as a developer of single-family housing.

The focus of the development activities of Jack Nagel and the Nagel Construction Company was predominately in the construction of single-family homes in the San Fernando Valley of Los Angeles County. From 1955 to 1980, Nagel Construction Company developed more than 2,000 homes. All of the homes were a symbol of quality and value under his flagship name of Empress Homes. Later, in the mid-1970s Jack Nagel diversified his development activities by entering into the multi-family residential business with the development of several apartment complexes in Los Angeles and what is now West Hollywood, California. While some of the buildings were sold a majority of them are still held within his portfolio and still remain Class “A” facilities.

In the early ‘80s Jack Nagel further diversified his portfolio by entering into the commercial real estate business. He developed a number of retail and office properties all of which are still owned and managed by his company. His retail and office portfolio now numbers in excess of 20 properties.

In 1988 Jack Nagel transferred the management responsibilities of his portfolio from Nagel Construction to Decron Properties Corp. under the guidance of his son David Nagel as President.

The Company now has a portfolio consisting of close to fifty properties, in excess of six million square feet. He has acquired his diversified portfolio through both acquisition and development. Approximately 50% of the portfolio has been developed ground up by Nagel Construction and/or Decron Properties Corp. while the balance reflects previously constructed real estate opportunities that Decron Properties Corp. through its development and management expertise has increased its value substantially.

The Company is staffed with over one hundred twenty employees, all of whom contribute to the management and development of the properties. The portfolio includes multifamily residential, commercial office, and retail properties. These properties are located predominately in California, but also include investments outside the state.

Jack Nagel currently serves as Chairman of Decron Properties Corp. and President of Nagel Construction Company. Residents of the Hancock Park area in Los Angeles, Jack & Gitta Nagel have four married children and 15 grandchildren.