Page 22 - GSP_Granary_Gateway_OM_Debt

Justin Earl | Partner

Justin is the Founder of J.B. Earl Company, and has 15 years of development experience working
with some of the largest real estate players in Utah and nationally.

Prior to starting J.B. Earl Company, Justin co-founded Blackfish, a development company that
specializes in developing college student apartment communities. He was previously Director
of Acquisitions and Development with one of the largest multifamily developers in Utah, Ivory
Commercial (ICO). Before ICO, Justin worked with Phillips Edison & Company, a public/private REIT
specializing in grocery anchored shopping centers throughout the US. Justin was also the Land
Acquisition Manager and the Development Manager for Alpine Homes, a subsidiary of a “Top 50”
private home building company in the US. Justin earned both his Master of Finance and Master of
Real Estate Development from the University of Utah.

Thomas Lee | Partner

Thomas has 20 years of investment and development experience in real estate, focusing on lifestyle-
oriented projects in retail, industrial, and multi-family. Thomas started his career purchasing real
estate assets as an independent owner/operator acquiring and managing over two dozen sites
on his own. Following which Thomas founded Lima Echo Echo, a firm focused on acquisitions,
repositioning, and operations. Thomas has long-standing established relationships with tenants,
lenders, regulators, community stakeholder groups, the City of Salt Lake and the State of Utah.

Beyond real estate Thomas develops and invests in consumer product companies as a Founding
Member of Product Labs an acquisitions and growth management fund as well as Process AG, a
product development group with design/manufacturing offices US and China.

22 | GRANARY GATEWAY