Directors and Officers

Michael Brody

Director

Mr. Brody provides consulting services to Capital Trust, Inc., a NYSE-listed company trading under the symbol CT. From May 2008 to August 2011, Mr. Brody was the President and Chief Operating Officer of Loeb Partners Realty, LLC, a privately-held real estate company headquartered in New York City.  From July 2009 to December 2010, Mr. Brody served on the Board of Rock US Joint Ventures, a LBG/HBOS controlled entity.  From 2002 to 2008, Mr. Brody served as a Managing Director and Head of CMBS Origination for Merrill Lynch & Co. Prior to that, Mr. Brody acted as Senior Vice President and Chief Credit Officer of GMAC Commercial Mortgage and a Managing Director for Nomura Securities in New York and San Francisco, where he was part of the CMBS team.

Mr. Brody has had 28 years of experience in commercial real estate, evenly divided between the capital markets and property sectors. He began his career as a leasing broker with Cushman & Wakefield. He has acted as Vice President of Asset Management for the Mack Company and as Vice President of Goldfarb Properties.

Mr. Brody received a B.A. degree from Cornell University and a M.B.A. in finance from Columbia University.
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Peter Dey

Director

Mr. Dey has been the Chairman of Paradigm Capital Inc., an investment dealer, since November 2005. He has been a director of Coventree Inc. since April 2008 and a director of Goldcorp Inc. since June 2006. From 2001 to 2005, Mr. Dey was a Partner of the Toronto law firm Osler, Hoskin & Harcourt LLP, where he specialized in corporate board issues and mergers and acquisitions. Previously, Mr. Dey was Chairman of Morgan Stanley Canada Limited, where he helped develop the Canadian investment banking business and the overall strategic direction of Morgan Stanley in Canada. From 1993 to 1995, Mr. Dey chaired The Toronto Stock Exchange Committee on Corporate Governance in Canada that released the December 1994 report entitled ‘‘Where Were the Directors?’’, known as the Dey Report.

Mr. Dey has also served as Chairman of the Ontario Securities Commission and was Canada’s representative to the OECD Task Force that developed the OECD Principles of Corporate Governance released in May of 1999. Mr. Dey was recently elected as a director of The International Corporate Governance Network and is also a member of the Private Sector Advisory Group of the Global Corporate Governance Forum, established by the World Bank and the Organization for Economic Cooperation and Development.

Mr. Dey attended Queen’s University, where he earned his Bachelor of Science in 1963 and Dalhousie University, where he earned his Bachelor of Laws degree in 1966. He received his Master of Laws degree from Harvard University in 1967. Mr. Dey is a director of Soulpepper Theatre Company and Alpine Ontario.
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Barry Gilbertson

Director

Professor Gilbertson is a real estate specialist professional who has been a partner at PricewaterhouseCoopers LLP (‘‘PwC’’) since 1996, where he has focussed on business recovery from international multi-bank work, and single lender work in the UK. At PwC, Professor Gilbertson has worked on matters such as the Cdn.$15 billion real estate investment and corporate property occupied by Lehman Brothers (in the UK & European context), together with other business recovery and corporate finance matters in some 30 countries.

Professor Gilbertson will retire from the PwC partnership in April 2011. He has accepted an invitation to become a non-executive consultant at Knight Frank LLP, the international real estate advisory firm.

Professor Gilbertson was President of The Royal Institution of Chartered Surveyors (RICS) (from 2004 to 2005), a member of The Bank of England Property Forum (from 2003 to 2010), is the founder Chairman of NARA (the Non-Administrative Receivers Association), is the co-founder Vice Chair of WAVO, the World Association of Valuation Organisations, and for two years acted as Chair of Valuation for the United Nations Real Estate Advisory Group (as an individual member of UN REAG from 2000 to 2005). He has been Visiting Professor at Northumbria University since 2003 to date, and a Visiting Lecturer at 16 other universities in China, Kenya, UK and USA.

Professor Gilbertson serves as a Trustee and Board Director at the College of Estate Management (2004 to date), is a Founding Fellow of the Institute of Continuing Professional Development, a Freeman of the City of London, and holds Honorary Membership designations from three professional bodies—in South Africa, in Romania and in the UK.
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Thomas Heslip

Director and Chief Executive Officer

Mr. Heslip has had a 29-year career covering commercial property development, investment, management and operations in Canada, the United States, Asia and Europe. Tom was most recently with GWL Realty Advisors in Toronto and prior to that served as President and CEO of Realex Properties Corporation until Realex's sale to Dundee Real Estate Investment Trust in February 2011. He has previously held senior management positions with Fortress Canada, Goldman Sachs, CIBC Development Corp. and Cadillac Fairview Limited. For 12 years Tom was an adjunct professor at McMaster University and the University of Toronto. He holds Masters of Arts degrees in Economics and Public Administration and a Bachelor of Arts degree in Economics and Business Administration from the University of Guelph.

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Gerald J. Miller

Director

Mr. Miller is a Director of  West Fraser Timber Co. Ltd. (“West Fraser”). He previously served as Executive Vice President, Finance and Chief Financial Officer of West Fraser from January 2009 until his retirement in July 2011. From February 2007 to December 2008, Mr. Miller’s principal occupation was Executive Vice President, Operations of West Fraser. Prior to that, since 1986, Mr. Miller held several other senior finance, administration and operations offices at West Fraser, including Vice-President, Corporate Controller; Vice-President, Administration; and Executive Vice-President, Pulp and Paper.

Mr. Miller is an experienced Chartered Accountant and has been a member of the Institute of Chartered Accountants of British Columbia and the Canadian Institute of Chartered Accountants for over 30 years. Prior to joining West Fraser in 1986, he was a Senior Audit and Tax Manager with one of the major Canadian Chartered Accounting firms.

Mr. Miller holds a Bachelor of Commerce degree from the University of British Columbia.
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Scott I. Oran

Director

Mr. Oran has been Managing Director of Dinosaur Capital Partners LLC, a real estate investment and advisory firm, since November 2009. Mr. Oran was a member of Gordon Brothers Group, an advisory and financial services company, from May 2009 to November 2009. From November 2003 until January 2009, Mr. Oran served as Executive Director of Morgan Stanley, where he was responsible for its real estate investing activities in New England and the mid-Atlantic United States.

Earlier in his career, Mr. Oran was Partner and Regional Director of TA Associates Realty and Vice President of Fleet Bank in Boston, where he managed a REO portfolio. Mr. Oran has also acted as Director of Acquisitions for Unihab, a Cambridge-based real estate developer. He began his career at Booz, Allen & Hamilton, a management consulting firm.

Mr. Oran has taught ‘‘Fundamentals of Real Estate Portfolio Management’’ at the MIT Center for Real Estate’s Professional Development Institute. He is also a member of the Board of the Massachusetts Chapter of NAIOP, the Commonwealth Shakespeare Company and the Edward W. Brooke Charter School. In Newton, Massachusetts, where he lives, he has served on the Mayor’s Mixed Use Tax Force, was Co-chair of the Finance Transition Committee for Mayor Setti Warren, and has served on the Citizen Advisory Group.

Mr. Oran graduated magna cum laude from Princeton University with a BSE in Civil Engineering and Urban Affairs and received an M.B.A (with distinction) from Harvard Business School.
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G. Wesley Voorheis

Director & Chairman

Mr. Voorheis has since 1995 been the Managing Director of VC & Co. Incorporated and a Partner of Voorheis & Co. LLP, which act as strategic and other advisors to institutional, private equity, and other shareholders with respect to their investments in Canadian public and private companies.

Mr. Voorheis has been a director and Chairman of the Board of HudBay Minerals Inc. since March 2009, a director and member of the Audit Committee of Coventree Inc. since April 2008, and a director of Easyhome Ltd. since April 2010. Mr. Voorheis has acted as the Chief Executive Officer and a director of Hollinger Inc., and Chairman of the Board of YBM Magnex International Inc., following the reconstitutions of the boards of these companies. He has also served as Chairman of a number of special board committees and as a director of various other Canadian publiclytraded companies.

Prior to the establishment of VC & Co. Incorporated and Voorheis & Co. LLP in 1995, Mr. Voorheis was partner at a major Toronto law firm.
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Michael Forsayeth

Chief Financial Officer

Prior to joining MI Developments, Michael Forsayeth has been the Chief Financial Officer and held senior executive financial and operating positions in several iconic public and private Canadian companies.

These companies include: most recently, Chief Financial Officer of Intrawest - a complex Canadian-based ski/real estate company with operations in Canada, the United States, Mexico and Europe; prior to Intrawest, Chief Financial Officer of Cara Operations Ltd, with $2 billion of system sales Cara was the largest operator of full service restaurants in Canada and a leader in the airline catering, food service distribution and travel concession industries; and prior to Cara, Laidlaw Inc, where he held several senior management positions including President of their Transit and Tour operations, President of Greyhound Canada and Chief Financial Officer of Laidlaw’s Passenger Services Group which comprised Laidlaw’s 40,000 school bus operation, public transit and tour bus businesses that had total revenue US$1.6 billion. He was also Chief Financial Officer of Derlan Industries Limited, a Canadian-based public North American manufacturing company and was Bank of Montreal’s first Senior Manager of Investor Relations. Mr Forsayeth is a Chartered Accountant and during his nine years at Coopers & Lybrand (now PricewaterhouseCoopers) he worked as a Senior Manager in the audit practice, in the insolvency group as well as a two-year secondment in their London, England office.

Mr. Forsayeth graduated from Queen’s University in Kingston, Ontario with an Honours Bachelor of Commerce degree.
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Jennifer Tindale

Executive Vice-President, General Counsel

Ms. Tindale was most recently Vice President, Associate General Counsel & Corporate Secretary at Biovail Corporation, Canada’s largest publicly-traded pharmaceutical company (TSX/NYSE: BVF). In this role, Ms. Tindale managed the Company’s legal matters and was a member of the Executive Management Team. Over her four years at Biovail, Ms. Tindale provided leadership on numerous corporate acquisitions, licensing transactions, two proxy contests and a merger transaction.

Prior to joining Biovail in 2006, Ms. Tindale was a partner at Blake, Cassels&Graydon LLP, practicing corporate securities law in the Toronto office.

Ms. Tindale holds a Bachelor of Arts and a Bachelor of Laws from the University of Western Ontario.
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John De Aragon

Executive Vice-President, Real Estate Investment

Mr. De Aragon oversees MI Developments Inc.’s investment activities (acquisitions and dispositions) for the company’s real estate diversification strategy. As a member of our senior management team, he is also directly involved in the overall integration and alignment of our diversified investments with the activities (expansions, lease strategies, acquisitions and dispositions) of our existing and future Magna tenanted properties. 

Mr. De Aragon has over 22 years experience in the real estate industry, covering all aspects from finance and accounting to acquisitions, mergers and asset management. His experience covers a wide variety of real estate sectors (retail, office and industrial), markets, investors and operating companies. He has held senior positions in real estate and investment in Canada and worldwide. These include having been Managing Director - Fortress Investment Group (responsible for real estate portfolios in Canada, the U.S. and Europe), Vice President Bentall Kennedy (one of North America’s largest real estate investment advisory and management companies) and Senior Director Investment and Development at CIBC Development Corp.

Mr. De Aragon graduated from the University of Guelph with a Bachelor of Arts in Management Economics. 
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Lorne Kumer

Executive Vice President, Real Estate Portfolio and Asset Management 

Mr. Kumer oversees all aspects of MID’s portfolio and asset management activities. These include asset strategies and business plans, property operations activities, leasing and expansions for both the Company’s Magna tenanted properties as well as the Company’s diversified portfolio.

Mr. Kumer also plays a key role in providing direction and support to the overall investment activities (acquisitions and dispositions) of the Company. As a member of our senior management team, he is a key leader in the overall integration and alignment of our existing and future Magna tenanted portfolio and our diversified real estate strategy and portfolio.

Mr. Kumer has over 21 years experience in the real estate industry working for both public and private development companies. His experience includes acquisitions, due diligence, leasing, land use and development approvals, sales and construction. For the past 10 years, Mr. Kumer has worked for MID in various roles including the management of the Company’s significant land development portfolio and leasing within the income producing properties portfolio. Prior to MID, Mr. Kumer held senior positions in the real estate industry including Vice President at C. Hunter Real Estate Corporation in Toronto and Vice President with Peregrine Hunter Properties Ltd.

Mr. Kumer hold a Bachelor of Arts (Honours), business administration, from the Richard Ivy School of Business at the University of Western Ontario.
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