Tenet Development Corp. has assembled a broad base of hospitality and real estate experts with a seasoned team of in-house management, design and supply professionals that have been recognized with many industry awards across a range of disciplines. The Tenet team has brought together the long-term design and operating experience of The Michael Anthony Group and the extensive hotel resort heritage of Friedmutter Group Architects and their history with large scale hospitality projects.

Tenet Development is supported by a specialized bond financing approach created and underwritten by Tenet Development’s close partner Tenet Financial Corporation using its Tenet Funds. Our financial strength supports the deep pipeline of multibillion dollar branded luxury assets for our long-term portfolio.

Principal Biographies:

JILBERT HOVAGIMYAN - CHAIRMAN/FOUNDER

As Group Chairman and Founder, Mr. Jilbert Hovagimyan has overall responsibility for creating, planning, implementing and integrating the strategic direction of the company, including maintaining investor relations and overseeing investment activity. After several years of trading treasuries for Prudential, Mr. Hovagimyan began working as an advisor to the Russian government as liaison with the International Monetary Fund (IMF). This effort concluded successfully when, in 1993, the Russia government was granted a loan from the IMF for $6.3 billion USD. Mr. Hovagimyan also served as an advisor for the Kuwaiti Royal Family during their post war reorganization of funds deposited in Europe. In 1998, he served as an advisor to the government of South Korea (KOACA) on infrastructure financing through the capital markets for the Incheon Airport. Mr. Hovagimyan served as the lead on a 200 Million Eurobond offering for the Merloni Family with Banca Monte dei Paschi di Siena. By 1999, Mr. Hovagimyan was managing over $1.1 billion USD as a global investment banker and advisor for European and Taiwanese clients. Recently, Mr. Hovagimyan arranged for E-United of Taiwan/Hong Kong to purchase, through credit facilities at Wachovia, $800 million USD worth of the China Steel offering put together by Smith Barney. And, as an advisor to the Minister of Finance of Taiwan, Mr. Hovagimyan arranged (in 2 transactions) the sale of The Bank of Overseas Chinese (BOOC) to Citigroup.

MICHAEL A. BILLER, ASID, CID – CHIEF EXECUTIVE OFFICER
Mr. Biller has extensive hotel and hospitality experience spanning a 50+ year professional career. He was raised in Las Vegas, working in his parent’s restaurants and hotels from an early age, and was involved in some of the most iconic hotels and resorts around the globe.

Mr. Biller established “The Michael Anthony Group” in the 1970’s and has operated the company continuously to current. During this time, Mr. Biller was involved in numerous projects throughout the US, the majority of which being in Nevada and California, where he held responsibilities including hotel and interior design, project construction, construction management, hotel and operations management, and project finance. In addition to The Michael Anthony Group, Mr. Biller also owned and operated a large millwork and stainless-steel kitchen manufacturing firm along with a large door and hardware manufacturing company. Over his career, Mr. Biller has designed and/or developed 70+ hotel properties, 400 restaurants, in addition to the interior design for the Sears Tower and partnerships with top hospitality firms like C.R. Brodstock.

Mr. Biller earned degrees in engineering and psychology from the University of California, Los Angeles, holds contractor’s licenses in AZ, CA, and NV, is a professional member of the American Society of Interior Designers, the National Kitchen and Bath Association, the Door and Hardware Institute, and is a Certified Interior Designer (#1928) in the State of California.

LARRY ALLEN – SENIOR VICE PRESIDENT
Mr. Allen brings extensive experience, and an intimate understanding of all phases of real estate, including real estate planning, development, real estate feasibility, investment, construction project management and real estate procurement, He is uniquely qualified to infuse this expertise into exciting projects. As a Strategic Planning ~ Real Estate Development ~ Construction & Operations specialist with 35+ years of hands-on proficiency, his current and former responsibilities include complete accountabilities for all corporate real estate development activities, including concept, design, investment analysis, marketing, entitlement, purchasing, project accounting, construction administration, operations and sales.

Mr. Allen has numerous notable projects on his resume, including the development and operation of hotel and resort properties affiliated with nearly every major brand, including Hilton, Embassy Suites, Sheraton, Ramada, and Quality. His resume also includes independent mixed-use resort development projects in several states. In addition to this unique hospitality industry expertise, he has completed the development and construction of various office, industrial, residential, and retail projects.

Mr. Allen hails from a long lineage of constructors and real estate developers on both sides of his family. At a very young age, He began his hands-on training in the construction field under the 2 LARRY ALLEN – SENIOR VICE PRESIDENT (CONT) direction of his father, a licensed Arizona general contractor. His formal education continued at Brigham Young University with the study of Engineering and Construction Technology. Following his years at BYU he worked in his father’s construction business until taking a position with Paragon Hotel Corporation, where he spent nearly 20 years, ultimately as a Senior Vice President and Director of Development. He has also worked on his own account and as a high-level real estate development and business consultant on a variety of large-scale projects.

BUCK BOND – PRE-CONSTRUCTION MANAGER
Mr. Bond brings 35+ years of construction and construction management experience with executive level leadership on both public and private construction and development projects. He holds contractor’s licenses (Q.E) both A&B in Nevada, Utah, and New Mexico and has received multiple awards, including the J.A Jones Award of Excellence.

Throughout his career, Mr. Bond has managed construction, operations, support and provided supervisory oversight for projects totaling $3.75 billion. His experience spans projects ranging from hotels, resorts and convention centers to government and infrastructure projects including assignments for GSA, Corps of Engineers, the Department of the Navy, California Hospital, oil and gas facilities, and federal correctional facilities.

KENNETH CARPENTER – RESIDENTIAL SALES
Mr. Carpenter has held a range of positions in multiple industries that provide a perspective and experience to deal with diverse management issues, marketing strategies and event coordination. He founded and operated a transportation business, developed an overseas business, has been engaged in real estate and several industries and has had a long-term involvement with politics and government. Early company success allowed Mr. Carpenter to engage in multiple business and political opportunities. Through the course of his management career, he has had operational management experience in sales and marketing, accounting and audit, receivables and accounts payable management, technology implementation and public agency licensing.

In recent years, Mr. Carpenter has been focused on his family real estate brokerage and advisory business in addition to advisory work with CB Capital Advisors. His family has been engaged in the real estate business beginning with his father’s 1960’s partnership with The Koll Company. He has been engaged with the development of single-family home tracks, custom homes and remodels while operating as a California real estate agent. Through his lifetime residency in Newport Beach, California, Mr. Carpenter has been a keen observer and participant in the Southern California real estate market.

DAN SOMERS – SHARED OWNERSHIP
Mr. Somers contributes 30+ years of corporate leadership experience in the areas of real estate investment management, real estate brokerage and Resort Shared Ownership management experience. He was also a reserve fighter pilot for the U.S. Marine Corp/Navy with experience in the F-4 Phantom, F-14 Tomcat, completing 300+ carrier landings, attending the United States Navy Strike Fighter Tactics Instructor Program (Top Gun) and was an air combat instructor.

Dating back to the early 2000’s, Mr. Somers has been involved in real estate, hospitality management, and brokerage as a licensed realtor, associate and principal broker, entrepreneur property manager. In 2006, he was awarded and granted a pending patent for the Shared Ownership Business model which will be deployed by TENET Development. Mr. Somers has been a partial or full owner of multiple real estate brokerages in CA, NV, UT, and FL and has started and managed multiple Shared Ownership sales and management firms in FL and NV.

Mr. Somers Holds a B.S. in Public Administration and a master’s degree from the University of Southern California as well as a master’s degree from the University of California, Irvine and is a Licensed Real Estate Broker in CA (Lic. # 01773129). He also holds multiple FAA pilots licenses for multiple aircraft types, both private and commercial.

JAY L. KING – CHIEF FINANCIAL OFFICER
Mr. King is an experienced forward thinking finance executive with 30+ years of proven leadership in both public and private accounting holding controller, CFO and COO positions throughout his career. He has provided financial leadership to organizations ranging from start-ups to prominent international organizations across various sectors. Mr. King’s experience includes extensive structuring of IPO, equity and debt financings, M&A function oversight, designing and implementing cost and budget controls and computer & network systems development.

Mr. King holds a B.S. in Accounting and an MBA with a concentration in finance from the University of Utah and is a Certified Public Accountant (CPA) in California and Nevada. He is also a member of the California Society of CPAs and the American Institute of Certified Public Accountants (AICPA).

Select Team Member Completed Projects:

Michael A. Biller

Anaheim Hilton & Towers (Anaheim, CA)
Montage Hotel (Beverly Hills, CA)
The Grand Del Mar (San Diego, CA)
Fountain Blue Resort (Miami, FL)
City Center (Las Vegas, NV)
Hard Rock Hotel (San Diego, CA)
Sir Francis Hotel (San Francisco, CA)
Marriot Timber Lodge (S. Lake Tahoe, CA )
Surf & Sand Hotel (Laguna Beach, CA)
Hyatt Regency (Lake Las Vegas, NV)
Airport Park Hotel (Los Angeles, CA)
Temecula Creek Inn & Golf Resort (Temecula, CA)
Desert Princess Hotel & Resort (Palm Springs, CA)
Caesar’s Palace Spa Tower (Las Vegas, NV)
Wynn Towers (Las Vegas, NV)
LAX Hilton & Towers (Los Angeles, CA)
Disneyland Hotel (Anaheim, CA)
Queen Mary Hotel (Long Beach, CA)
Scottsdale Hilton (Scottdale, AZ)
Gaylord Palms Resort (Orlando, FL)

Buck Bond

Del Mar Racetrack Expansion (Del Mar, CA)
Channel Gateway Condominiums (Marina Del Rey, CA)
Fantasy Springs Hotel & Central Plant (Indio, CA)
Manchester Grand Hyatt (San Diego, CA)
Park Hyatt Hotel (San Francisco, CA)
Resort at Summerlin (Las Vegas, NV)
Oregon Convention Center (Portland, OR)
Park Towers Condominiums (Las Vegas, NV)
The Minami Tower (Las Vegas, NV)
Waterfront Hilton Hotel (Huntington Beach, CA)
Metropolitan Lofts (Los Angeles, CA)
Long Beach Convention Center (Long Beach, CA)

Larry Allen

Cambria Suites (Colorado)
Hedgepeth Hills Resort (Arizona)
Microtel Inns (Various Locations)
Sleep Inns (Various Locations)
Hampton Inn & Suites (Various Locations)
Hotel Wailea (Hawaii)
Villa Toscana Resort (California)
Grand Del Mar (California)
Kauai Beach Resort (Hawaii)
Wailea Renaissance (Hawaii)
44 Monroe (Nevada)
Carlton Hotel (California)
Bellevue Biltmore (Florida)
Boca Bridge Resort (Florida)
Heritage House (California)
Lake Las Vegas Resort (Nevada)
Montelucia Resort (Arizona)
Mountain Shadows Resort (Arizona)
Hilton Tapatio Cliffs (Arizona)
Quail Lodge (California)
Kitts Resort & Spa (Saint Kitts)
Wyndham Timeshare Resort (Scottsdale, AZ)

Completed project list is not comprehensive or exhaustive. A full project list can be prepared upon request.