Joseph A. Richter

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					Joseph A. Richter

Mr. Richter has been building homes and developing land since 1969 when he embarked on a
career in production housing in the Phoenix market. In 1972 he moved to New England to work on
custom homes and historical restorations. During this time Mr. Richter’s company did work that was
displayed at Disneyland and featured on Charles Kuralt’s news program, On The Road. In 1976, he
moved to California to design and build custom homes in Laguna Beach and Newport Beach along
Southern California’s Gold Coast.

In the 1980’s, to augment his professional skill set and to expand his understanding of the industry,
Mr. Richter refocused on production housing. He accepted a position with one of the largest
builders in the Southern California market Glenfed Development, the residential development arm
of a major savings and loan. During this time his projects included the master-planning of several
major land holdings and the construction of condominiums, patio homes and traditional single
family detached residential units in Orange, San Diego and Riverside Counties totaling
approximately 2,000 units.

With the collapse of the S&L industry in the early 1990’s, an opportunity to work in a new area of
the development business presented itself. Mr. Richter spent most of the decade buying, financing
and developing residential, commercial and resort projects for a major investment group from Hong

As the new millennium approached Mr. Richter once again felt the need to grow himself
professionally. To assure the continued advancement of an already noteworthy building industry
career, Mr. Richter completed a business degree at Pepperdine University where he graduated
summa cum laude in 2004. Hanover Development was formed as a residential development and
home building company at that time.

Nearly four decades of experience have provided Mr. Richter with hands-on and multidisciplinary
experience ranging from acquisition, entitlement, financing, planning, horizontal improvement and
construction of projects and, perhaps most importantly, servicing his customers the home owners.
National recognition of his unconventional focus on customer service was noted by an article in
Professional Builder in which Mr. Richter was listed as one of the 10 “Movers and Shakers”1 in the
industry. The article opens with this quote, “Orange County Calif., builder Joe Richter is setting
benchmarks for commitment to quality and customer service that the whole housing industry might be well-
advised to emulate.”

          Professional Builder, April 2000.
      Joseph A. Richter

                                      Professional Experience:

Hanover Development
January - 05 to Present

       Startup of a residential land development and homebuilding company.

Pepperdine University
Business Degree Student
August -01 to August - 04

       Attended the Graziadio School of Business at Pepperdine University.
       Graduated number one in his class, summa cum laude with a 3.965 GPA.

John Laing Homes
Project Manager
July - 02 to January - 05

       While attending Pepperdine Mr. Richter was responsible for several in-fill, private and
       RDA projects. These projects were focused in the Orange County market. His direct
       responsibilities included due diligence analysis, budgeting and proforma preparation for
       acquisitions, site and product design and processing entitlements and pulling permits.

       In addition to the project specific duties several special management projects such as
       creating responsibility charts that define the home building process, creating a budget
       form for managing production and writing procedures for various process in the division.

       More than 15 acquisitions were pursued. The list below shows projects that were
       purchased and built:

           •    56 unit project in downtown Anaheim built on 5.35 acres. Two product types were
                designed. One being a 36 unit brownstone townhouse. The other was a 20 unit SFD
                product on 4500 s.f. lots. Both product types were designed specifically for this site and
                passed through numerous historical society design reviews. The site was an old trucking
                facility that had soil contamination due to gas and diesel spills. This project was
                purchased from the Redevelopment Agency.

           •    224 unit triplex product built on 21 acres in an industrial area near downtown Anaheim.
                This project was also purchased from the Redevelopment Agency. The site was the old
                Kwikset hardware plating facility and the soils contamination was extensive.

           •    350 units on 40 acres on the old marine helicopter station in Tustin. This project was the
                first to be developed on the abandoned military base. To purchase the property JLH was
                involved in a design competition followed by a bid process. Four product types were
                designed and built.

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      Joseph A. Richter
           •    267 traditional SFD homes on 35 acres on the old marine helicopter station in Tustin.
                This was the second project developed on the closed base. This site’s previous use was
                for base housing. The project required demolition of the old housing and the Conditions of
                Approval required recycling a majority of the materials. Two product types were designed
                and built.

Hanover Development
July - 00 to September 01

       Effort applied to the startup of Hanover Development. Hanover’s purpose was to build medium to
       high-end production homes and a limited number of custom homes annually. Three projects
       were put into escrow with financing arranged. The events of September 11, 2001 disrupted the
       market to such an extent that acquisitions were postponed. Mr. Richter instead focused on
       pursuit of business education.

Regis Homes
July - 97 to June - 00

       Regis Homes was a division Sares•Regis Group (“SRG”), an Irvine California based company.

       Project related duties included acquisition analysis, budget development, financial analysis,
       entitlement processing, DRE processing, land planning, housing product design and monthly
       reports to partners.

       Management related duties include all aspects of defining and implement a business plan for a
       new homebuilding company. This included establishing corporate and project budgets, the
       identification of acquisition opportunities, sourcing equity and debt, hiring senior staff, establishing
       company philosophy and the designing, building, selling and servicing the communities.
       Approximately 250 homes were sold annually. The story in Professional Builder mentioned at the
       end of the BIO narrative was a result of management practices while in this position.

       A partial list of projects with estimated unit counts includes:
           •    130 unit townhome project in Simi Valley, California
           •    142 unit townhome project in Rancho Santa Margarita, California
           •    108 unit courtyard / cluster project in Moorpark, California
           •    92 unit SFD project in Thousand Oaks, California
           •    272 unit 3 over 1 condominium project in Carlsbad, California
           •    403 unit condominium project is Oakland, California

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      Joseph A. Richter
CCL Holdings USA ~ CCL Development
V.P. Operation / President
February - 92 to December – 96

       CCL Holdings was formed in 1992 and based in Newport Beach, California to manage the
       investments of a Hong Kong based company. CCL had a two pronged strategy of 1) buying
       active assets and business such as Class A buildings, resort hotels and golf courses and 2)
       buying RTC and distressed properties for residential development.

       As VP Operations for Holdings Mr. Richter was responsible for office space, facilities
       management, company policies and procedures, bonus criteria, hiring personnel and acquisition
       feasibility of businesses & investments.

       As President of CCL Development his responsibilities included identifying and completing land
       acquisitions, site design and entitlements, architectural design, building, sales & marketing and
       servicing. About 250 homes a year were sold.

       The product included production homes throughout Southern California priced from $250,000 to
       $700,000 and custom homes in the Newport Coast area of Newport Beach, California priced from
       $1,500,000 to $2,500,000.

       A partial list of residential projects includes:
           •    103 unit townhome project in San Juan Capistrano, CA
           •    72 unit small-lot SFD project in Monarch Beach, CA
           •    89 units in an upper end SFD project in Simi Valley, CA
           •    79 very high end estate homes at the top of Topanga Canyon
           •    +/- 400 unit master plan community in Temecula, CA comprised of two product types.

Southwest Diversified
Vice President Construction
June - 90 to December - 91

       Southwest Diversified (“SWD”) was an Irvine California based company whose focus was adding
       value to properties with entitlement difficulties. Responsibilities included hiring office and field
       personnel, product design, product specification, purchasing, entitlements, construction and
       customer service. Product was upper-end production housing priced from $500,000 to

       A partial project list includes:
           •    72 unit SFD project in Dana Point, CA with commanding ocean views.
           •    84 unit ½-acre lot equestrian estate community in Orange, CA
           •    +/- 70 unit 15,000 s.f. lot estate community in Huntington Beach CA on old oil wells that
                had to be abandoned, vented and remediated. Homes ranged in size for 4200 s.f. to 6000

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      Joseph A. Richter

Glenfed Development
Vice President / Project Manager / Purchasing Manager
June - 84 to May - 90

       Glenfed Development was based in Encino, CA and was the residential development and
       building division of Glendale Federal Savings and Loan.

       As the lead person in the Orange County division the primary responsibility was the design and
       development of 1,100-unit, 1700-acre master plan in San Juan Capistrano. This project included
       building and maintaining the San Juan Hills Golf Course, processing the entitlements through the
       very difficult city of San Juan Capistrano, and doing a major mass grading operation that moved 8
       million cubic yards of dirt to build the first 503 lots. The Orange County division was responsible
       for 300 homes per year in Orange County and San Diego County.

       Some of the project highlights included:
           •    Reconstructed, maintained or built new different components of the San Juan Hills Golf
           •    Entitled and completed 75 duplexes planning area B.
           •    Designed, entitled and built 503 homes in planning areas E & F.
           •    Built, sold and serviced 196 patio homes.
           •    Built, sold and serviced 205 townhomes.
           •    Designed and entitled areas C&D for the construction of over 600 homes in four product
           •    Designed, entitled and built 225-unit townhome project in new community of Aliso Viejo,
           •    Designed, entitled and built an 87 unit SFD project in Carlsbad California
           •    Built a 140 unit SFD project in Menifee California

Robert Osborne Development
Superintendent / Project Manager
February - 82 to June – 84

Bert Tarrarrayo Associates
Architectural Draftsman
1980 – 1982

Joseph A. Richter Co.
Custom Home Builder / General Contractor
1972 – 1980

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Joseph A. Richter

  Education:   BSM from Pepperdine University – August 2004, Beta Gamma Sigma honor
               society, graduated summa cum laude and number one in the class.

  Interests & Activities: My Wife; Golf (4 handicap); Travel (particularly Ireland); Fly Fishing
                          (Steelhead as a passion)
  Skills: Advance knowledge of Excel, Word, MS Project, Windows, Photoshop, Deal Builder and
           other software.

  Licenses: California Contractors License: B1; 703642.
            California Real Estate Brokers License 01744150

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