FT REAL ESTATE, INC. 6100 Red Hook Quarter Suite B-3 St. Thomas, USVI 00802 September 6, 2011 BY EMAIL AdvanceStar LLC do Mitchell Holdings LLC 815 Fifth Avenue New York, NY 10065 Attn: David Mitchell Re: Assignment of Membership Interest (AdvanceStar LLC) by an

0 EFTA00306106 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. Managing Member: AdvanceStar LLC By: David J. Mitchell, Manager Class A Members: a fr David J. Mitchell Ker&tilgton111111411 -1 and others as set forth in Signature Addenda here

FT REAL ESTATE, INC. 6100 Red Hook Quarter Suite B-3 St. Thomas, USVI 00802 September 6, 2011 BY EMAIL AdvanceStar LLC do Mitchell Holdings LLC 815 Fifth Avenue New York, NY 10065 Attn: David Mitchell Re: Assignment of Membership Interest (AdvanceStar LLC) by an

AdvanceStar LLC Next Steps 1. • Check if there is a market for our service with our pricing model • Locate acceptable 3 rd part safe and structure arrangement

C — 12.86% 70.0% 30.0% No individual owns more than 10% of Lofts 21 LLC through the Ryder Madison, Baiit K, or New Valley 1 Class A interests AdvanceStar LLC Ryder Madison LLC Individual and Entity Investors (DE — Managing Member) (NY — Class B Member) (NY — Class A Members) 0% 0% 100% Lofts 21 LLC