In December 2009 Ranch teamed with Berkshire Hathaway and Leucadia National to purchase the commercial mortgage origination and servicing business from Capmark Financial Group Inc., (which was operating under bankruptcy protection). Capmark was the successor to GMAC’s Commercial Mortgage Business, which was purchased by KKR, Goldman Sachs, and others in March 2006. The Berkshire/Leucadia joint venture (“Berkadia Commercial Mortgage, LLC”) paid $515 million to purchase the origination and servicing business, and also purchased approximately $600 million of loans and servicer advances. Ranch has a significant financial interest in Berkadia, and Mr. Hershfield serves on its Board.

Based in Ambler, Pennsylvania, Berkadia is the country’s largest non-bank owned commercial real estate loan servicer, servicing more than $215 billion of loans for clients that include the GSE’s, CMBS Trusts, insurance companies, banks, and others. Berkadia also owns a large multifamily property broker. On an annual basis, Berkadia is involved with over $30 billion of commercial real estate lending and sales transactions.

In December 2009 Ranch teamed with Berkshire Hathaway and Leucadia National to purchase the commercial mortgage origination and servicing business from Capmark Financial Group Inc., (which was operating under bankruptcy protection). Capmark was the successor to GMAC’s Commercial Mortgage Business, which was purchased by KKR, Goldman Sachs, and others in March 2006. The Berkshire/Leucadia joint venture (“Berkadia Commercial Mortgage, LLC”) paid $515 million to purchase the origination and servicing business, and also purchased approximately $600 million of loans and servicer advances. Ranch has a significant financial interest in Berkadia, and Mr. Hershfield serves on its Board.

Based in Ambler, Pennsylvania, Berkadia is the country’s largest non-bank owned commercial real estate loan servicer, servicing more than $215 billion of loans for clients that include the GSE’s, CMBS Trusts, insurance companies, banks, and others. Berkadia also owns a large multifamily property broker. On an annual basis, Berkadia is involved with over $30 billion of commercial real estate lending and sales transactions.

In December 2009 Ranch teamed with Berkshire Hathaway and Leucadia National to purchase the commercial mortgage origination and servicing business from Capmark Financial Group Inc., (which was operating under bankruptcy protection). Capmark was the successor to GMAC’s Commercial Mortgage Business, which was purchased by KKR, Goldman Sachs, and others in March 2006. The Berkshire/Leucadia joint venture (“Berkadia Commercial Mortgage, LLC”) paid $515 million to purchase the origination and servicing business, and also purchased approximately $600 million of loans and servicer advances. Ranch has a significant financial interest in Berkadia, and Mr. Hershfield serves on its Board.

Based in Ambler, Pennsylvania, Berkadia is the country’s largest non-bank owned commercial real estate loan servicer, servicing more than $215 billion of loans for clients that include the GSE’s, CMBS Trusts, insurance companies, banks, and others. Berkadia also owns a large multifamily property broker. On an annual basis, Berkadia is involved with over $30 billion of commercial real estate lending and sales transactions.

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In 2004, Ranch Capital and its financial partners invested approximately $173 million to purchase equity and debt claims of Hawaiian Holdings, Inc. (AMEX:HA) and its subsidiary Hawaiian Airlines (HAL), which was operating under Chapter 11 bankruptcy protection. HAL emerged from bankruptcy in 2005 with the Ranch-led group as a 55% shareholder, with Messrs. Hershfield and Jenson serving as directors, and Mr. Hershfield as Chairman (positions they retain today). At the time of its emergence, HAL was the second largest carrier of passengers from the U.S mainland and had approximately 60% of the interisland market. In the ten years since emergence, service has been commenced to various destinations in Asia, Australia and New Zealand, and HAL now carries approximately 25% of all passengers traveling to the islands and over 80% of the interisland traffic. Ten years after its emergence from bankruptcy (2006 versus 2015), HAL’s fleet has grown from 25 to 54 aircraft, its revenues are four times as large, its operating income went from $3 million to $426 million and its share price grew from trading in the $3 to $5 range to the mid to high $40s.

Please book your next trip to paradise on Hawaiian’s website

http://www.hawaiianair.com

In 2004, Ranch Capital and its financial partners invested approximately $173 million to purchase equity and debt claims of Hawaiian Holdings, Inc. (AMEX:HA) and its subsidiary Hawaiian Airlines (HAL), which was operating under Chapter 11 bankruptcy protection. HAL emerged from bankruptcy in 2005 with the Ranch-led group as a 55% shareholder, with Messrs. Hershfield and Jenson serving as directors, and Mr. Hershfield as Chairman (positions they retain today). At the time of its emergence, HAL was the second largest carrier of passengers from the U.S mainland and had approximately 60% of the interisland market. In the ten years since emergence, service has been commenced to various destinations in Asia, Australia and New Zealand, and HAL now carries approximately 25% of all passengers traveling to the islands and over 80% of the interisland traffic. Ten years after its emergence from bankruptcy (2006 versus 2015), HAL’s fleet has grown from 25 to 54 aircraft, its revenues are four times as large, its operating income went from $3 million to $426 million and its share price grew from trading in the $3 to $5 range to the mid to high $40s.

Please book your next trip to paradise on Hawaiian’s website

http://www.hawaiianair.com

In 2004, Ranch Capital and its financial partners invested approximately $173 million to purchase equity and debt claims of Hawaiian Holdings, Inc. (AMEX:HA) and its subsidiary Hawaiian Airlines (HAL), which was operating under Chapter 11 bankruptcy protection. HAL emerged from bankruptcy in 2005 with the Ranch-led group as a 55% shareholder, with Messrs. Hershfield and Jenson serving as directors, and Mr. Hershfield as Chairman (positions they retain today). At the time of its emergence, HAL was the second largest carrier of passengers from the U.S mainland and had approximately 60% of the interisland market. In the ten years since emergence, service has been commenced to various destinations in Asia, Australia and New Zealand, and HAL now carries approximately 25% of all passengers traveling to the islands and over 80% of the interisland traffic. Ten years after its emergence from bankruptcy (2006 versus 2015), HAL’s fleet has grown from 25 to 54 aircraft, its revenues are four times as large, its operating income went from $3 million to $426 million and its share price grew from trading in the $3 to $5 range to the mid to high $40s.

Please book your next trip to paradise on Hawaiian’s website
http://www.hawaiianair.com

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Seitel is a Houston-based company that owns a library of seismic data which it builds and maintains by conducting seismic data testing and analysis in partnership with energy companies. At the time of Ranch’s investment in 2003, Seitel owned 32,000 square miles of 3-D data and 1.1 million linear miles of 2-D data, located primarily onshore in Texas, Louisiana, and western Canada. Ranch Capital purchased, at a significant discount, substantially all of the company’s debt including $255 million face value bonds and $8 million of other claims, which were paid in full with interest when Seitel emerged from bankruptcy.

Seitel is a Houston-based company that owns a library of seismic data which it builds and maintains by conducting seismic data testing and analysis in partnership with energy companies. At the time of Ranch’s investment in 2003, Seitel owned 32,000 square miles of 3-D data and 1.1 million linear miles of 2-D data, located primarily onshore in Texas, Louisiana, and western Canada. Ranch Capital purchased, at a significant discount, substantially all of the company’s debt including $255 million face value bonds and $8 million of other claims, which were paid in full with interest when Seitel emerged from bankruptcy.

Seitel is a Houston-based company that owns a library of seismic data which it builds and maintains by conducting seismic data testing and analysis in partnership with energy companies. At the time of Ranch’s investment in 2003, Seitel owned 32,000 square miles of 3-D data and 1.1 million linear miles of 2-D data, located primarily onshore in Texas, Louisiana, and western Canada. Ranch Capital purchased, at a significant discount, substantially all of the company’s debt including $255 million face value bonds and $8 million of other claims, which were paid in full with interest when Seitel emerged from bankruptcy. .

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Headquartered in Greensboro, North Carolina, Oakwood Homes was the third-largest manufactured-housing company at the time it declared bankruptcy in November 2002. Oakwood was vertically integrated; it manufactured the homes in its own factories, sold homes through its own network of company-owned and independent dealers, and in most cases, provided financing to its customers, and serviced such loans after the sale. In order to provide capital to support the financing operations, Oakwood securitized and sold mortgage pools in the capital markets. As the performance of Oakwood’s mortgages declined, the financial terms required for continued securitization became impossible for Oakwood to meet, which led to a bankruptcy filing. Ranch Capital and its financial partners (RBS Greenwich Capital and Berkshire Hathaway) were able, on very short notice, to make a $215 million DIP loan commitment to Oakwood. The loan was paid off 15 months later when the assets of Oakwood were acquired as part of its bankruptcy emergence, with a yield to the Ranch-led group of over 20%.

Headquartered in Greensboro, North Carolina, Oakwood Homes was the third-largest manufactured-housing company at the time it declared bankruptcy in November 2002. Oakwood was vertically integrated; it manufactured the homes in its own factories, sold homes through its own network of company-owned and independent dealers, and in most cases, provided financing to its customers, and serviced such loans after the sale. In order to provide capital to support the financing operations, Oakwood securitized and sold mortgage pools in the capital markets. As the performance of Oakwood’s mortgages declined, the financial terms required for continued securitization became impossible for Oakwood to meet, which led to a bankruptcy filing. Ranch Capital and its financial partners (RBS Greenwich Capital and Berkshire Hathaway) were able, on very short notice, to make a $215 million DIP loan commitment to Oakwood. The loan was paid off 15 months later when the assets of Oakwood were acquired as part of its bankruptcy emergence, with a yield to the Ranch-led group of over 20%.

Headquartered in Greensboro, North Carolina, Oakwood Homes was the third-largest manufactured-housing company at the time it declared bankruptcy in November 2002. Oakwood was vertically integrated; it manufactured the homes in its own factories, sold homes through its own network of company-owned and independent dealers, and in most cases, provided financing to its customers, and serviced such loans after the sale. In order to provide capital to support the financing operations, Oakwood securitized and sold mortgage pools in the capital markets. As the performance of Oakwood’s mortgages declined, the financial terms required for continued securitization became impossible for Oakwood to meet, which led to a bankruptcy filing. Ranch Capital and its financial partners (RBS Greenwich Capital and Berkshire Hathaway) were able, on very short notice, to make a $215 million DIP loan commitment to Oakwood. The loan was paid off 15 months later when the assets of Oakwood were acquired as part of its bankruptcy emergence, with a yield to the Ranch-led group of over 20%.

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RANCH CAPITAL REAL ESTATE

Over the years, Ranch and its partners have invested in residential and mixed-use real estate projects that include over 7,000 lots.

Current projects include:

Superior Town Center, Boulder County Colorado. A 157-acre mixed use project in one of the strongest markets in the country, comprised of up to 1,400 dwelling units and one million feet of commercial, including hotels, office and retail.
http://downtownsuperior.com

The Mill at Broadway, Sacramento California. Ranch is building 950 homes in the city of Sacramento.
http://millatbroadway.com

Lilac Hills Ranch, San Diego County, California. A 1,756 unit project ion northern San Diego County, which will be on the November 2016 ballot for approval by voters.

Over the years, Ranch and its partners have invested in residential and mixed-use real estate projects that include over 7,000 lots.

Current projects include:

Superior Town Center, Boulder County Colorado. A 157-acre mixed use project in one of the strongest markets in the country, comprised of up to 1,400 dwelling units and one million feet of commercial, including hotels, office and retail.
http://downtownsuperior.com

The Mill at Broadway, Sacramento California. Ranch is building 950 homes in the city of Sacramento.
http://millatbroadway.com

Lilac Hills Ranch, San Diego County, California. A 1,756 unit project ion northern San Diego County, which will be on the November 2016 ballot for approval by voters.

Over the years, Ranch and its partners have invested in residential and mixed-use real estate projects that include over 7,000 lots.

Current projects include:

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Superior Town Center, Boulder County Colorado. A 157-acre mixed use project in one of the strongest markets in the country, comprised of up to 1,400 dwelling units and one million feet of commercial, including hotels, office and retail.
http://downtownsuperior.com/

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The Mill at Broadway, Sacramento California. Ranch is building 950 homes in the city of Sacramento.
http://millatbroadway.com

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Lilac Hills Ranch, San Diego County, California. A 1,756 unit project ion northern San Diego County, which will be on the November 2016 ballot for approval by voters.

5D Robotics, Inc.

Mr. Hershfield has separately invested in, and is currently Chairman of, 5D Robotics, Inc. 5D is a San Diego-based technology company focused on software and sensors for autonomous and connected industrial vehicles and automobiles. 5D has partnered with United Rentals, Inc., which wants to use 5D’s technology to automate equipment in its 900 stores, and, more importantly, wants to push the technology to its thousands of customers. 5D is also deeply involved in “connected” and “autonomous” car technologies.

Please visit www.5drobotics.com to learn more about 5D.

Mr. Hershfield has separately invested in, and is currently Chairman of, 5D Robotics, Inc. 5D is a San Diego-based technology company focused on software and sensors for autonomous and connected industrial vehicles and automobiles. 5D has partnered with United Rentals, Inc., which wants to use 5D’s technology to automate equipment in its 900 stores, and, more importantly, wants to push the technology to its thousands of customers. 5D is also deeply involved in “connected” and “autonomous” car technologies.

Please visit www.5drobotics.com to learn more about 5D.

Mr. Hershfield has separately invested in, and is currently Chairman of, 5D Robotics, Inc. 5D is a San Diego-based technology company focused on software and sensors for autonomous and connected industrial vehicles and automobiles. 5D has partnered with United Rentals, Inc., which wants to use 5D’s technology to automate equipment in its 900 stores, and, more importantly, wants to push the technology to its thousands of customers. 5D is also deeply involved in “connected” and “autonomous” car technologies.

Please visit www.5drobotics.com to learn more about 5D.

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