Christopher J. Branch Senior Managing Director Multi-Family Residential Development Christopher J. Branch Christopher J. Branch Senior Managing Director Multi-Family Residential Development (704) 972-2614 Mr. Branch is responsible for the development of multi-family housing throughout Faison's footprint in the Southeastern United States as well as Texas. He brings over 29 years of real estate experience. Prior to joining Faison in 2011 he worked with Summit Properties, a Charlotte based apartment REIT which was later purchased by Camden Properties. In 1992, Mr. Branch left Summit to start The Boulevard Company. Between 1992 and 2011, Mr. Branch was president of The Boulevard Company where he was directly responsible for day to day operations and the development of more than 40 projects, totaling more than 3,000 residential units and 200,000 square feet of commercial property with a collective value of over $500 million. Mr. Branch received his degree in psychology from Bucknell University. He earned his Masters in Business Administration in 1989 from Kenan-Flager at the University of North Carolina at Chapel Hill.

Chris Branch, Senior Managing Director of Multifamily Development FAISON HIRES NEW SENIOR MANAGING DIRECTOR FOR MULTIFAMILY DEVELOPMENT Charlotte, NC based, Faison Enterprises, Inc. announced today that Chris Branch, currently Managing Principal of The Boulevard Company, has joined the company as Senior Managing Director of Multifamily Development. Mr. Branch founded and ran the Boulevard Company for the past nineteen years and has executed forty-two residential and commercial development projects in Charlotte and the Raleigh area valued at over $400 million. The company most recently built, leased and sold Phase I of 1225 South Church, a 196 unit complex in the growing South End market in Charlotte, with a second phase of 210 additional units commencing next month. Philip W. Norwood, President and Chief Executive Officer of Faison, commented "We are all delighted to have Chris join us as we pursue a number of promising multifamily projects here in Charlotte and throughout the Southeast, Mid-Atlantic and Texas markets, where we have been active in development for many years. Chris will make a huge contribution to our multifamily development efforts, to which we have recently allocated a substantial amount of capital." Chris Branch stated, "I am excited to be joining such a distinguished and well-regarded company.

Christopher J. Branch Senior Managing Director Multifamily Residential Development Christopher J. Branch Senior Managing Director Multifamily Residential Development (704) 972-2614 Mr. Branch grew up in Western New York and graduated from Olean High School in 1979. He then attended Bucknell University and graduated with a degree in psychology in 1983. Following his undergraduate studies, he held various positions in the construction and development industries beginning with the position of assistant superintendent for Clark Properties in Ocala, Florida. In 1985 he became project manager for Briar Construction, a regional builder/developer in the tri-state area, where he was responsible for the development of several projects in and around New York City. Mr. Branch then returned to school to earn his MBA in 1989 from Kenan-Flagler at University of North Carolina Chapel Hill, where he focused on real estate development and finance. After his graduation from Kenan-Flagler, Mr. Branch accepted a position with Summit Properties, a Charlotte-based apartment REIT with a $450 million market capitalization which was later purchased by Camden Properties. At Summit Properties he worked as a development manager, and later as a regional property manager, overseeing 35 employees and more than 1,000 apartment units. Mr. Branch left Summit in 1992 to start The Boulevard Company. Between 1992 and 2011, Mr. Branch was president of The Boulevard Company where he was directly responsible for day to day operations and the development of more than 40 projects, totaling more than 3,000 residential units and 200,000 square feet of commercial property with a collective value of over $500 million. During his tenure at Boulevard, Mr. Branch gained extensive experience and expertise in the creation of complex infill projects. Significant projects include Gateway Plaza, 111 midrise condominiums with 8,500 square feet of street level retail that was part Bank of America's redevelopment of the Gateway District in Charlotte's CBD as well as 1225 South Church, a 196 unit podium-style Class A apartment building located just outside of Uptown Charlotte in South End, a rehabilitated industrial district. In 2011, Mr. Branch joined Faison as Senior Managing Director of Multi-Family. His responsibilities include the development of multi-family housing throughout Faison's footprint in the Southeastern United States as well as Texas.

"Our strategy is to create a Class A apartment project as defined by location, design, finishes, and amenities to serve the growing number of young professionals who desire a location in close proximity to employment centers and entertainment venues," remarked Chris Branch, Senior Managing Director of Residential Development for Faison. Chris Branch, 704-972-2614 or chris.branch@faison.com Media:

Charlotte - Faison Enterprises, Inc. announced today that Chris Branch, currently Managing Principal of The Boulevard Company, has joined the company as Senior Managing Director of Multifamily Development. Mr. Branch founded and ran the Boulevard Company for the past nineteen years and has executed forty-two residential and commercial development projects in Charlotte and the Raleigh area valued at over $400 million. The company most recently built, leased and sold Phase I of 1225 South Church, a 196 unit complex in the growing South End market in Charlotte, with a second phase of 210 additional units commencing next month. Philip W. Norwood, President and Chief Executive Officer of Faison, commented "We are all delighted to have Chris join us as we pursue a number of promising multifamily projects here in Charlotte and throughout the Southeast, Mid-Atlantic and Texas markets, where we have been active in development for many years. Chris will make a huge contribution to our multifamily development efforts, to which we have recently allocated a substantial amount of capital." Chris Branch stated, "I am excited to be joining such a distinguished and well-regarded company.