|
Principals
Managing
Partner and CEO
Joel B. Shapiro. Mr. Shapiro is a Managing Partner and the Chief Executive Officer of Timbervest. He has direct responsibility for the overall leadership, strategy and marketing of Timbervest and its related entities. Under his leadership, Timbervest has grown into one of the premier investment managers in the timberland, rural real estate, and environmental infrastructure asset classes. Mr. Shapiro has extensive experience and expertise in the acquisition, management and disposition within these assets and maintains relationships with a broad and diverse group of real estate buyers and sellers, industry players, consultants, financial institutions and government agencies. Mr. Shapiro also has over 24 years of experience in the investment industry, having previously founded Shapiro Capital Management, one of the nation’s premier “small‑cap” money management firms. In addition, he was the founder and president of The Atlanta Growth Fund, a publicly traded mutual fund, deploying a regionally focused investment strategy. Throughout his career, he has developed novel approaches to investments and investment theories, and his views and concepts have been published, noted and written about in various books and journals, as well as in various national publications. Mr. Shapiro is also a Founding Board Member of the Pediatric Inflammatory Bowel Disease Consortium (Pediatric IBD Consortium), a national group of leading children’s research hospitals focused on providing key genetic, biological, and potentially curing research to children with IBD. With a broad operational knowledge of traditional as well as alternative investments, Mr. Shapiro brings an experienced, tactical skill‑set to Timbervest. He holds a Bachelor’s degree in Economics from the University of Georgia.

Managing
Partner and President
Gordon Jones. Mr. Jones is a Managing Partner and the President of Timbervest. He is primarily responsible for the structuring of Timbervest’s investments, strategic objective planning, management of transactions, operational matters and general legal oversight and compliance and is also directly involved in the marketing of products and the analysis of acquisitions and dispositions. During his tenure at Timbervest, Mr. Jones has structured three commingled funds, assisted with realignment of several client portfolios and formed a variety of relationships with numerous industry players. Mr. Jones has over 14 years of experience dealing with commercial and institutional real estate as well as the business and legal aspects of a variety of commercial and private transactions. Prior to joining Timbervest, he was a partner at Parker, Hudson, Rainer & Dobbs LLP where his legal practice was primarily focused on commercial and corporate finance, commercial real estate, mergers and acquisitions and general corporate and contracts law. His clients included national, regional and local corporations and other business entities as well as national and regional banks and lending institutions. He has been a frequent speaker at seminars regarding a wide range of corporate and commercial finance topics and is the author of a number of articles in business and legal journals and publications. Mr. Jones received a Bachelor of Business Administration, with a major in Accounting, and a JD degree from the University of Georgia. He is a member of the American Bar Association and the State Bar of Georgia.

Managing
Partner and Chief Operating Officer
David Zell. Mr. Zell is a Managing Partner and the Chief Operating Officer of Timbervest. He is primarily responsible for Timbervest operations and management and is also directly involved with the acquisition, disposition and structuring of investments. In this role he is actively involved in the implementation and oversight of property management plans and day to day operations. During his tenure at Timbervest, Mr. Zell has reorganized company management operations, implemented new accounting processes, reporting standards and quality assurance measures and assisted in instituting significant upgrades in acquisition and disposition underwriting, models and analysis. Mr. Zell has over 22 years of experience in the real estate, investment and financial services industries. Prior to joining Timbervest, he worked on the client‑side of the investment business where he served on the advisory boards of 15 institutional limited liability partnerships. He was responsible for managing over $3 billion of real estate and natural resource investments on behalf of BellSouth Corporation’s pension and other trusts. Prior to his private market experience, he managed over $7 billion of fixed income, international equity and currency investments. While working in the public markets, Mr. Zell authored BellSouth’s Derivative Investment Policy. At BellSouth, Mr. Zell’s duties also included developing long‑range investment plans, identifying new investment opportunities, analyzing manager performance, negotiating contracts for manager services and conducting due diligence on prospective managers. In prior assignments with BellSouth, Mr. Zell worked in a variety of areas including financial analysis, computer systems and employee compensation. Mr. Zell has been a Chartered Financial Analyst since 1993. He received a Bachelor of Industrial Engineering degree from the Georgia Institute of Technology and an MBA degree from Georgia State University.

Managing
Partner and Chief Investment Officer
William A. Boden. Mr. Boden is a Managing Partner and the Chief Investment Officer of Timbervest. He is primarily responsible for the investment and disposition of assets and overseeing real estate related activities. These activities include analysis and underwriting of acquisitions and formulation and implementation of value added management and pre-development strategies for assets under management. He is actively involved in planning and implementing the management and investment programs for each property with a goal to achieve maximum returns. While with Timbervest, Mr. Boden has implemented a more structured and extensive acquisition model, instituted creative management and disposition strategies, and has been involved in the acquisition and disposition of properties with values in the hundreds of millions. Mr. Boden has over 20 years experience in the real estate investment, development and consulting industries, and has a diverse group of real estate contacts in a broad range of real estate sectors. Prior to joining Timbervest in 2003, he was a Co‑Founder of Realty Consulting Services, Inc., a firm specializing in real estate tax consulting and investment services in the Southeastern and Mid‑Atlantic states. The firm provides tax consulting and investment services for over $5.5 billion of assets owned by many of the nation’s largest REIT, institutional, and individual owners of commercial real estate. Before co‑founding Realty Consulting Services, Mr. Boden worked for 10 years in real estate investment and development with Cochran Properties, Inc., where he was involved in the financing and development of office, retail and multi‑family developments. Mr. Boden received a Bachelor of Science degree from the McIntire School of Commerce at the University of Virginia, as well as an MBA degree, with concentrations in finance and real estate, from Emory University.
Forestry Staff

Regional Forester, Northeast Region
Mr. Campopiano, a Timbervest Regional Forester, joined the firm in 2004. He is responsible for the identification, analysis, acquisition, management, development and sale of timberland properties in Maine, New Hampshire, Vermont, New York, and Pennsylvania. Prior to joining Timbervest, Mr. Campopiano worked for International Paper for 27 years, across the Northeastern United States in a variety of positions with ever increasing responsibilities. These included: land management, timber harvesting, marketing of forest products, wood procurement and wood yard operations. While at International Paper, Mr. Campopiano spent four years at IP’s Svetogorsk, Russia pulp and paper mill leading the development of enhanced wood procurement strategies. During this assignment he gained invaluable experience in both Russian and state-of-the art Finnish forest management practices. Jim has been a long time member of the Society of American Foresters (SAF), is a SAF Certified Forester (CF) and a Maine Licensed Professional Forester. He is also a member of the Empire State Forest Products Association and the Northeastern Loggers’ Association. Mr. Campopiano has a Bachelor of Science degree in Forest Management from Michigan State University

Regional Forester, Northeast Region
Mr. Harvish, a Timbervest Regional Forester, joined the firm in 2007. He is assisting with the identification, analysis, acquisition, management, development and sale of timberland properties in Maine, New Hampshire, Vermont, New York and Pennsylvania. He has over 30 years of experience with forest industry in the Northeastern US. Prior to joining Timbervest he worked as a consulting forester with private landowners and with a land surveying firm for several years. Mr. Harvish was employed by International Paper Co. for 10 years in both New York and Maine in several positions with responsibilities ranging from company and private forest land management to wood yard and fiber procurement program supervision. For 20 years he was owner and president of a timber harvesting company that utilized the most advanced logging technology.This involved operations planning, land and timber acquisition, sale of wood products and production. Mr. Harvish has served on the State of Maine Forest Industry Task Force, and as a Director for The Northeastern Loggers Association. He is a member of the Society of American Foresters and The Northeastern Loggers Association. Tony has a Bachelor of Science degree in Forestry from SUNY College of Environmental Science and Forestry at Syracuse and a Bachelor of Science degree from Syracuse University.
Regional Forester, Mid Gulf Region
Mr. Holley, a Timbervest Regional Forester, joined the firm in 2006. He is responsible for the identification, analysis, acquisition, management, development and sale of timberland properties in Alabama, Mississippi, and Tennessee. Mr. Holley has over 37 years of forest management and timber procurement experience with industrial and non-industrial private landowners including timberland management, timber acquisition and sales, conducting Best Management Practices auditing and monitoring, and incorporating the Sustainable Forestry Initiative® Standard into all phases of operations. Prior to joining Timbervest, Mr. Holley was president of Holley Forestry Services from 2005-2006; a Forest Stewardship and Procurement Manager for Boise Cascade’s Alabama Region from 1979-2005, and a District Forester managing 140,000 acres for Champion International Corporation from 1969-1979. Mr. Holley was a colonel in the U. S. Army and holds a BS degree in forestry from Auburn University. He is also a Registered Forester in Alabama.
Regional Forester, Southeast Region
Mr. Malm, a Timbervest Regional Forester, joined the firm in 2003. His responsibilities include the identification, analysis, acquisition, management, development and sale of timberland properties in the Southeast Region. Mr. Malm has been in the forest business for over 25 years. Prior to joining Timbervest he was a consultant specializing in wood sourcing and logistics optimization for both domestic and international operations. Mr. Malm, spent 21 years with International Paper, and its predecessor Union Camp, as a Regional Woodlands Manager. In that position he was accountable for 1 million acres of timberland. His responsibilities included land acquisition and sales, along with intensive forestry management. Mr. Malm holds a BS in forestry from West Virginia University, a MS of Forest Resources from University of New Hampshire and an MBA from the University of North Florida. He is a certified forester and is registered in Georgia, South Carolina, and North Carolina.

Regional Forester, Southeast Region
Mr. Browne, a Timbervest, LLC Regional Forester, joined the firm in 2007. He is assisting with the identification, analysis, acquisition, management, development and sale of timberland properties in the Southeast Region. Mr. Browne has over 24 years of experience in industrial forest management including land management, wood procurement, harvesting operations, wildlife management and timber land sales. Prior to joining Timbervest, he was the Land Manager for Copper Station Properties, a Real Estate Investment Company. Mr. Browne spent 23 years with International Paper and Union Camp Corporation. During his tenure at International Paper and Union Camp, Mr. Browne supervised the management of 180,000 acres of timberland in the Southeastern United States, and was responsible for purchasing wood fiber for several company owned facilities. Mr. Browne is a graduate of North Carolina State University with a Bachelor of Science Degree in Forest Management. He is a Registered Forester in Georgia and South Carolina and a Registered Real Estate Appraiser in Georgia.

Regional Forester, West Gulf Region
Mr. McGarity, a Timbervest Regional Forester, joined the firm in 2006. He is responsible for the identification, analysis, acquisition, management, development and sale of timberland properties in Mississippi, Arkansas, Louisiana, Oklahoma, and Texas. Mr. McGarity has 32 years of experience in industrial forest management, including research, timberland management, timber sales, timberland acquisition and sale, and wildlife programs. Prior to joining Timbervest, Mr. McGarity was a Division Forester at Molpus Timberlands, from 2003-2005; he was Silviculture Manager for the 984,000 acre Southern Region of Louisiana-Pacific Corp from 1999-2003; and he spent 26 years at International Paper Company in various forestry positions with ever increasing responsibilities. Mr. McGarity is a Society of American Foresters Certified Forester and a Registered Forester in the State of Mississippi. He was a captain in the U.S. army and graduated from the University of Georgia in 1968 with a Bachelor of Science degree in Forest Management.

Consulting Forester, Appalachian Region
Mr. Hutson has been with Timbervest since 2004. He is responsible for the identification, analysis, acquisition, management, development, and sale of timberland properties in the Appalachian region. Previously, he worked at Mullican Lumber Company for 16 years serving as Vice President of Land and Timber. Prior to Mullican, he worked briefly for Hamer Lumber Company, Plum Creek Timber Company, and Dallas Corporation through a series of company acquisitions. While at Mullican, he managed 30,000 acres of company property and directed the activities of 18 timber and log procurement foresters. He began his career in Appalachian hardwood procurement and management with Georgia-Pacific Corporation in 1972 after receiving his BS Degree in Forest Management and MS Degree in Forest Hydrology from West Virginia University. Mr. Hutson is also a professional photographer whose specialties include Wildlife and Landscapes. His photographs have covered several magazine fronts.

Consulting Forester, West Coast Region
Mr. Ehlen is a Timbervest Consulting Forester. He, along with a team at Mason, Bruce & Girard, a West Coast forestry consulting firm, is responsible for the identification, analysis, acquisition, management, development, and sale of timberland properties in the West Coast region. Mr. Ehlen has worked for Mason, Bruce & Girard for ten years and is a principal of the firm. Previously, he worked at Georgia-Pacific Corporation for 26 years beginning in land management and eventually serving as the Western Division Manager overseeing approximately 750,000 acres with 75 employees under his supervision. The timberlands he was responsible for were located in northwest Washington, north and south coastal Oregon, and coastal and interior California. Mr. Ehlen received his Bachelor of Science degree in Forest Management from Washington State University and is a member of the Society of American Foresters.

Consulting
Forester, Northern Maine
Mrs. Dufour is a Timbervest Consulting Forester. As a District Forester for LandVest, she, along with the rest of the team at LandVest, is responsible for the management of over 86,000 acres for Timbervest in northwestern Maine - including the largest maple sugaring operation in the United States. Mrs. Dufour has been in the forest business for over 10 years. Prior to joining LandVest she was a manager of forestry and wildlife management for Produits Forestiers Anticosti with varied tasks including land management, timber harvesting and wildlife management, on the 8,000 km2 forested Anticosti Island at the mouth of the St. Lawrence River. In that position she was accountable for more than one million acres of timberland. Mrs. Dufour holds a Bachelor Science degree in forestry from Moncton University in New Brunswick, Canada and is a certified forester.

Vice President & Portfolio Manager
Mr. Orr serves as a Timbervest Vice President and Portfolio Manager for Timbervest Crossover Funds. Mr. Orr is charged with management of the Firm's investments in mitigation and conservation banking and other opportunistic assets such as alternative-use and value-added timber and agricultural properties. Together with Mr. Thompson, Mr. Orr works in conjunction with the Managing Partners in the analysis, underwriting, acquisition and management of Crossover Assets and has the responsibility of day to day oversight of all Crossover Asset investments. During his tenure at Timbervest, Mr. Orr has structured the firm’s mitigation and conservation banking investment underwriting and asset management activities while developing Timbervest’s footprint within the industry. Mr. Orr also has experience in various aspects of real estate investments and rural land management, including value creation through horizontal development and conservation easements. Prior to joining Timbervest, Mr. Orr was an attorney with Butler, Wooten & Fryhofer LLP where his law practice focused on civil and environmental litigation. In between law school and his practice at Butler Wooten, Mr. Orr completed a one-year judicial clerkship for the Honorable Orinda D. Evans, Chief Judge, United States District Court, Northern District of Georgia. Mr. Orr received a B.B.A. in finance, magna cum laude, and a J.D., magna cum laude, from the University of Georgia. Mr. Orr is a member of the State Bar of Georgia and has passed Levels I and II of the Chartered Financial Analyst program and has not yet taken Level III.

Vice President & Portfolio Manager
Mr. Thompson serves as a Timbervest Vice President and Portfolio Manager for Timbervest Crossover Funds. Mr. Thompson works in partnership with Cliff Orr overseeing the Firm's investments in mitigation and conservation banking and other opportunistic assets such as alternative-use and value-added timber and agricultural properties. Together with Mr. Orr, Mr. Thompson works in conjunction with the Managing Partners in the analysis, underwriting, acquisition and management of Crossover Assets and has the responsibility of day to day oversight of all Crossover Asset investments. Prior to joining Timbervest, Mr. Thompson worked in project development with Barry Real Estate Companies in Atlanta, where he focused on financing and project management on both horizontal and vertical development projects. Prior to his work with Barry, Mr. Thompson was an attorney with King & Spalding LLP where he participated in over $1.5 billion dollars in public finance transactions on behalf of multifamily housing developers, power plants, hospitals and various government entities. Mr. Thompson received an A.B. in Political Science, summa cum laude, a J.D., magna cum laude, and a Master of Business Administration, from the University of Georgia. Mr. Thompson is a member of the State Bar of Georgia.

Portfolio Manager and Forestry
Analyst
As a Portfolio Manager and Forestry Analyst, Mr. Walstad is responsible for property analytics used to aid decision-making in the acquisition and disposition of timberland and the conversion of timber properties to higher and better use applications, where appropriate. These duties include, cash flow analysis, scenario analysis, forecasting IRRs and on-site due diligence. With his hand-on experience in forest management, Mr. Walstad is able to combine analytics and practical knowledge to select those properties which will provide the best risk-return characteristics. His prior experience includes real estate brokerage and forestry operations. Mr. Walstad is a licensed real estate agent and has a degree in Housing and Economics from the University of Georgia.

Portfolio Manager and Forestry
Analyst
Matt serves as a Portfolio Manager and Forestry Analyst in the Forestry Analytics department of Timbervest. Matt received a BS in Finance from Auburn University. After working as a financial advisor for Merrill Lynch, Matt decided to combine his enthusiasm for the outdoors with his financial background and earned a Masters of Forest Resources from the University of Georgia. While at the University of Georgia, Matt worked for Timber Mart-South, a leading Southeast timber market news and price reporting service. Matt’s experience and knowledge of finance combined with timber market knowledge adds considerably to our ability to identify and target investment opportunities. He is also an integral link between the foresters performing on the ground management of properties and the portfolio management team.

Portfolio Manager and Forestry
Analyst
As a Portfolio Manager and Forestry Analyst, Mr. Walker is responsible for property analytics used to in the acquisition and disposition of timberland and the conversion of timber properties to higher and better use applications, where appropriate. These duties include, cash flow analysis, scenario analysis, forecasting IRRs as well as on-site due diligence. While in graduate school, Mr. Walker worked for Timber Mart-South and Forisk Consulting where he helped with research and analysis of wood market data. Mr. Walker has a BS in Forest Resources and a Masters in Forest Resources with an emphasis in finance from the University of Georgia.

Senior Associate—Crossover Assets
Mr. Ragsdale serves as a Senior Associate for Timbervest Crossover Funds. Mr. Ragsdale primarily focuses on the underwriting, due diligence, financial analysis, and acquisition of prospective mitigation and conservation bank investments. Prior to joining Timbervest, Mr. Ragsdale was an Associate at Arcapita, an Atlanta-based middle-market private equity firm. At Arcapita, Mr. Ragsdale focused on leveraged buyouts of privately-held businesses across a broad range of industries. Prior to Arcapita, Mr. Ragsdale was an Analyst with Cobblestone Advisors, a division of Richmond-based Harris Williams & Co., where he completed numerous middle-market merger and acquisition advisory assignments across a broad range of industries. Mr. Ragsdale holds a B.A. in Economics from Washington & Lee University and an M.B.A. from the Kenan Flagler School of Business at the University of North Carolina at Chapel Hill.

Associate—Crossover Assets
Mr. Kauss serves as an Associate for Timbervest Crossover Funds. Mr. Kauss primarily focuses on the underwriting, due diligence, and financial analysis of prospective mitigation and conservation bank investments. Prior to joining Timbervest, Mr. Kauss worked as an Acquisitions Analyst at Jamestown Properties where he focused on the financial analysis of prospective private equity real estate investments. Prior to his work at Jamestown, Mr. Kauss worked at SunTrust – Robinson Humphrey, as an Investment Banking Analyst in Debt Capital Markets. Mr. Kauss graduated from the University of Wisconsin-Madison with a B.B.A. in finance.
.jpg)
Associate—Crossover Assets
Mr. Bernhardt serves as an Associate for Timbervest Crossover Funds. Mr. Bernhardt primarily focuses on the underwriting, due diligence, and financial analysis of prospective mitigation and conservation bank investments. Prior to joining Timbervest, Mr. Bernhardt worked as an Equity Research Analyst at Sandler O’Neill & Partners where he focused on the financial analysis and valuation of companies in the financial services industry. Mr. Bernhardt graduated from Vanderbilt University with a B.A. in Economics
Client Relations
Sr.
Vice President of Business Development and Client Relations
Mr. Rosenberg currently serves as Senior Vice President of Business Development and Client Relations. He has over 25 years of experience in the investment and financial services industry. Prior to joining Timbervest, Mr. Rosenberg served as a Vice-President for both Bear Stearns and Company and Prudential Securities. In 1995, he founded First Capital Partners Inc., a firm specializing in raising private equity and debt for small cap public companies. Additionally, the firm also performed acquisition searches for clients. Mr. Rosenberg has been a guest lecturer at Georgia State University and has been referenced in a variety of publications, including the book “Marketing to the Affluent” by best selling author Thomas J. Stanley. Mr. Rosenberg holds a Bachelor of Science degree in Agriculture from the University of Georgia.

Director—Communications and Marketing
Ms. Foster is Director of Communications and Marketing for Timbervest. She manages the preparation of client and prospect presentations, marketing materials and website updates. Ms. Foster joined Timbervest after spending more than 12 years as a television news journalist at ABC, NBC and FOX affiliates. She worked as both a primary evening anchor and as a reporter/anchor and received a Southeastern Regional Emmy for reporting. Ms. Foster is a graduate of the University of Georgia's Grady College of Journalism and Mass Communication.

Manager—Marketing and Client Services
As Manager of Marketing and Client Services, Ms. Rush is responsible for coordinating marketing operations and client services. Her responsibilities also include assisting Joel Shapiro and Gordon Jones. Ms. Rush graduated from Florida State University with a Bachelor of Science in Merchandising with a minor in Business.
Transactions

Vice
President and General Counsel
Ms. Seabolt serves as Vice President and General Counsel. She is primarily responsible for general legal and business oversight and compliance matters. Prior to joining Timbervest, Ms. Seabolt was a senior attorney at Holland & Knight LLP where her law practice focused on general commercial real estate, including office and retail leasing, acquisition and development and commercial lending. Ms. Seabolt received a Bachelor of Business Administration from the University of Georgia and a JD degree from Georgia State University College of Law. Ms. Seabolt is a member of the American Bar Association, the State Bar of Georgia, the Atlanta Bar Association and CREW Network.

Vice
President and Director of Transactions
Mr. Carter, a Timbervest Vice President and Director of Transactions, is primarily responsible for managing all aspects of property transactions, including acquisitions and dispositions. He is also involved in legal oversight and compliance matters. Before joining the team at Timbervest, Mr. Carter worked with Parker, Hudson, Rainer & Dobbs LLP. He has extensive experience in commercial transactions including real estate, finance and mergers and acquisitions. Mr. Carter received his Bachelors of Business Administration, with a major in Finance, from Georgia State University, his Paralegal Certificate from the National Center for Paralegal Training with a specialty in Business Transactions and his MBA from Mercer University with a concentration in International Business.

Vice President and Senior Counsel
Ms. Howard serves as Vice President and Senior Counsel. Involved generally with all transactional and operational legal issues, Ms. Howard also works with the portfolio management team evaluating potential assets and structuring acquisitions and dispositions. Prior to joining Timbervest, Ms. Howard was an associate with Sutherland Asbill & Brennan LLP in the real estate group. Experienced in the world of timber and natural resource investments, Ms. Howard has represented a wide variety of timberland owners and managers in all aspects of large and small scale timberland transactions, and has worked with various clients and governmental agencies in establishing conservation easements and mitigation banks. She has contributed to Forest Landowner magazine and participated as part of a panel discussing the International Paper Company 2006 timberland disposition at the Georgia Bar Association’s 2007 Real Property Institute. Ms. Howard also previously practiced in the areas of commercial lending and retail and industrial development and leasing. Ms. Howard received a BA in Government from Skidmore College, magna cum laude and her JD from Boston College Law School, cum laude. She is a member of the American Bar Association, the State Bar of Georgia and the Atlanta Bar Association.

Associate Counsel
Ms. Sinclair serves as Associate Counsel for Timbervest. She is primarily responsible for operational legal issues and assists with all phases of the acquisition and disposition of client properties. Before joining Timbervest, Ms. Sinclair served as a law clerk for the Honorable W. Eugene Davis, United States Court of Appeals for the Fifth Circuit. Prior to her clerkship, Ms. Sinclair was an associate with the real estate group of Sutherland Asbill & Brennan LLP where she represented institutional clients in the acquisition and disposition of timberland properties. Ms. Sinclair has published an article on adverse possession in Forest Landowner magazine, and was interviewed on the Timber Talk radio program. Ms. Sinclair received a BA in Political Theory and Constitutional Democracy from Michigan State University, with honors, and her JD from Emory University School of Law, with honors. She is a member of the American Bar Association and the State Bar of Georgia.

Manager—Legal Affairs
As Manager of Legal Affairs, Mr. Morgan is responsible for assisting with the management of the all aspects of property transactions, including acquisitions and dispositions of portfolio properties. He is also involved with the oversight of property management issues and all post-closing matters. Prior to joining Timbervest, Mr. Morgan owned and managed a real estate title research company that performed commercial and residential real estate title examinations for law firms in the Columbus, Georgia area. In Atlanta he worked with Troutman Sanders, LLP in its commercial real estate department. Mr. Morgan is a licensed real estate agent and holds a Bachelor of Arts Degree in History from Columbus State University.

Manager—Legal Affairs
As a Manager of Legal Affairs, Ms. Higgins is responsible for assisting with the management of all aspects of property transactions, including acquisitions and dispositions of portfolio properties. She is also involved with the oversight of property management issues and all post-closing matters. Before joining Timbervest, Ms. Higgins was a Paralegal on the Commercial Real Estate Team at Parker, Hudson, Rainer & Dobbs LLP. Ms. Higgins received her Bachelor of Arts Degree in History and English from the University of Georgia and her Paralegal Certificate with a specialty in Business Transactions from the National Center for Paralegal Training.
Operations & Finance

Controller
As Controller, Mr. Boardman is responsible for all accounting related to Timbervest’s operations. He has extensive experience in managing accounting operations and developing cash-flow models, corporate budgets, and financial forecasts. Prior to joining Timbervest, Mr. Boardman served in senior financial management positions as controller and chief financial officer of several public and private corporations, including Novoste, The Peanut Factory, Celeco Hedemora, and Electrical Insulation Suppliers. Previously, he was a senior manager with Price Waterhouse Coopers. Mr. Boardman is a Certified Public Accountant, and holds a MBA from the University of Michigan and an engineering degree from Georgia Tech. He is a member of the American Institute of Certified Public Accountants (AICPA), the Georgia Society of Certified Public Accountants, and Financial Executives International.
Director
of Operations
As Director of Operations, Mr. Harris is responsible for all day-to-day office functions, including human resources and marketing support. He also serves as publisher of the firm’s quarterly newsletter. Prior to joining Timbervest, Mr. Harris worked as a consultant in the mobile courier industry. Mr. Harris holds a BBA degree in Finance from the University of Georgia.

Manager—Finance
As Finance Manager, Ms. Horstmann is responsible for client portfolio accounting. She manages the daily portfolio transactions, prepares quarterly and year-end reports, as well as assists in the evaluation of portfolio performance. Prior to Timbervest, Maria worked as an operations manager for an IT consulting firm, as an import/export analyst for a manufacturing firm, and as a sales manager for the Latin America and Asia Pacific regions for a software company. Ms. Horstmann graduated summa cum laude from Georgia State University with a BBA degree in Finance and passed the Level I Exam of the CFA Program. Maria is also fluent in Portuguese and Spanish.

Manager—Finance
Mr. Comiskey is a Finance Manager working primarily on the Timbervest Crossover Funds. As Finance Manager, Mr. Comiskey is responsible for client portfolio accounting, managing the daily portfolio transactions, preparing quarterly and year-end reports, as well as assisting in the evaluation of portfolio performance. Prior to Timbervest, Mr. Comiskey served as both Controller and Assistant Controller for several real estate development and management firms. Mr. Comiskey is a Certified Public Accountant. He is a member of the American Institute of Certified Public Accountants and the Georgia Society of Certified Public Accountants. Mr. Comiskey graduated from the University of Georgia with Bachelors and Masters degrees in Accounting.

Manager—Client Relations
As Manager of Client Relations, Ms. Berwind is responsible for assisting Bill Boden and David Zell with day-to-day information management. Her responsibilities also include accounting and marketing support. Ms. Berwind holds a Bachelor of Business Administration in Real Estate from Georgia State University.

Graphic
Designer
Ms. Fox serves as the in-house Graphic Designer and Editor. She is responsible for the design and production of Timbervest’s marketing materials. Ms. Fox holds a Bachelor of Arts degree from the University of Pittsburgh and graduated with honors from the Art Institute of Atlanta’s graphic design program.

Manager—Financial Reporting
As Financial Reporting Manager, Mr. Lynch is responsible for financial and accounting systems, financial report development, quarterly and year-end reporting, and assisting with evaluation of portfolio performance. Prior to joining Timbervest, Mr. Lynch worked for AT&T Wireless within the Performance and Data Management Engineering group and Fidelity Information Services in the Integrated Financial Services Division. Mr. Lynch received his undergraduate degree in Business Administration with a minor in Computer Information Systems from Ambassador University and holds an MBA in Finance from Mercer University.

Investment Analyst
As Investment Analyst, Mr. Morganstern manages property taxes, annual appraisals, property summary reports, and digital maps using Geographic Information Systems (GIS) technology. He also supports the timberland portfolio managers in day-to-day management and strategy implementation. Mr. Morganstern earned a Bachelor of Science degree in Environmental Science from The Evergreen State College with concentrations in analytical chemistry, hydrogeology, and freshwater ecosystems. He is currently enrolled in Georgia State University’s Professional Certificate in GIS Masters Program.

Staff Accountant
As the Staff Accountant, Ms. Shafer assists in day-to-day operations of the firm. She is also responsible for assisting in preparation of the financial statements and audits of the internal controls. She is a graduate of Georgia State University, with Bachelors in Business Administration with a concentration in Accounting.

Staff Accountant
As a Staff Accountant, Ms. Johnson is responsible for general accounting activities, transaction processing and business analysis affecting the timber and timberland assets managed by Timbervest. Prior to joining Timbervest, she worked with a CPA firm. Ms. Johnson holds a Bachelor of Science in Finance degree from Florida State University.

Staff Accountant
As a Staff Accountant, Ms. Barbour is responsible for a full range of accounting activities including cash disbursements, cash receipts, general ledger entries, and preparation of financial statements. Prior to joining Timbervest, she held accounting positions with a home builder and a mortgage finance company. Ms. Barbour holds a Bachelor of Business Administration degree, with a concentration in Finance, from the University of Colorado at Colorado Springs.

Director—I.T.
Systems and
Operations
Ms. Westbrook, Director of I.T. Systems, joined the firm in 1997. She is responsible for the day-to-day management of the IT systems. These activities include establishing, planning and administering the overall policies and goals for the information technology department. Previously, Barbara served in the Customer Technical Service departments at both United Parcel Service and Unisys. Ms. Westbrook holds a Bachelor of Science, Computer Information Systems, DeVry Institute of Technology.
|