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Professional Qualifications <br />Michelle D.M. Koeller, MAI, MRICS <br />Experience <br />Director for Integra Realty Resources—Minneapolis/St. Paul of Minneapolis, Minnesota. Actively engaged in real <br />estate valuation since 1991, entering the appraisal profession and working with several private firms in the <br />Wisconsin area before joining Integra Realty Resources-Minneapolis/St. Paul in 1997. Experience includes <br />preparation of professional real estate valuations and market analyses for various properties including, but not <br />limited to, regional, community, and neighborhood shopping centers, single -tenant credit retail, apartment <br />complexes, single and multi -tenant industrial buildings, low -to -high rise office buildings, mixed -use facilities, and <br />vacant land for different uses. Specialized real estate valuation and/or market studies have been performed on <br />full and limited -service hotels, resorts, marinas, auto dealerships, theaters, mini -storage facilities, convenience <br />stores, truck stop/travel centers, grain elevators, medical offices, seniors housing facilities, and residential land <br />subdivisions. Valuations and market studies have been completed on proposed, partially completed, renovated <br />and existing structures. The specific purposes of these assignments have included mortgage financing, <br />condemnation, tax appeal, investment counseling, potential sale or purchase, leasehold and rental analysis, and <br />feasibility analysis. Clients served include numerous commercial banks, development firms, corporations, <br />individual property owners, public agencies, insurance companies, and legal firms representing clients in various <br />matters. <br />Professional Activities & Affiliations <br />Appraisal Institute, Member (MAI) <br />Royal Institute of Chartered Surveyors, Member (MRICS) <br />Board of Director: North Star Chapter of the Appraisal Institute, January 2007 - December 2011 <br />Treasurer: North Star Chapter of the Appraisal Institute, January 2010 - December 2010 <br />Secretary: North Star Chapter of the Appraisal Institute, January 2011 - December 2011 <br />Member: NAIOP Commercial Real Estate Development Association <br />Member: Minnesota Shopping Center Association (MSCA) <br />Member: Minnesota Commercial Real Estate Women (MNCREW) <br />Member: National Network of Commercial Real Estate Women (NNCREW) <br />Licenses <br />Minnesota, Certified General Real Property Appraiser, 20104635, Expires August 2012 <br />Wisconsin, Certified General Real Property Appraiser, 854, Expires December 2011 <br />Iowa, Certified General Real Property Appraiser, CG02959, Expires June 2012 <br />North Dakota, Certified General Real Property Appraiser, CG-21118, Expires December 2011 <br />Education <br />Bachelor of Business Administration degree from University of Wisconsin, Milwaukee, WI. <br />Successfully completed numerous real estate related courses and seminars sponsored by the Appraisal Institute <br />and the University of Wisconsin - Milwaukee. <br />Currently certified by the Appraisal Institute's voluntary program of continuing education for its designated <br />members. <br />mkoeller@irr.com • 952-905-2406 Integra Realty Resources - Minneapolis/St. Paul <br />Copyright 2011 Integra Realty Resources, Inc. <br />