Officers

Gorman King Jr., Chairman
Mr. King graduated from Tufts College, Wellesley MA in 1975. He received a JD from the University of North Dakota in 1979 and a Masters Degree in Public Health from Harvard University in 1984. Mr. King is a Principal in Old Orchard Partners LLC. He is an attorney and former publisher of North Dakota's oldest newspaper, the Hillsboro Banner. Mr. King invests and manages investments in multi-family apartments, and tax credits. He also serves as a Principal in the North Dakota-based ProviDent, a managed care dental health services company. Mr. King serves as Chairman of the Board of Trustees and is a member of the Finance Committee of Dakota REIT.

Brion Henderson, Vice Chairman
Mr. Henderson received a BA in Industrial Engineering from North Dakota State University in 1976. Since that time he has worked in agricultural production services in North Dakota, specializing in chemical and fertilizer application. Personal real estate investments include multi-family apartments and tax credits. Mr. Henderson serves as Vice Chairman of the Board of Trustees.

George Gaukler, President
With 40 years of being involved in all aspects of real estate development, management and sales George Gaukler brings tremendous experience to the Dakota REIT Team. Mr. Gaukler organized Dakota REIT in 1997 as the sponsor and is currently the advisor to the Trust. Mr. Gaukler is a licensed real estate broker in North Dakota.

Mr. Gaukler is a 1962 graduate of Valley City State College. In 1964 he formed Valley Realty, Inc., a real estate development company, which now includes rental management services, real estate sales, land development and construction, of which he is the majority stockholder, president and CEO. Since then Mr. Gaukler has been involved in the development and construction of multi-family apartments and commercial properties throughout North Dakota. The Property Management Division of Valley Realty, Inc. currently manages 2,500 apartment units and commercial property in North Dakota. Mr. Gaukler is the majority stockholder, president and CEO of Hi-Line Construction, Inc., which was organized to build housing and commercial construction in the bonded and bidding market.

Jim Knutson, Executive Vice President
Mr. Knutson graduated from Valley City State University with a BS in Business Education in 1970. He joined Valley Realty, Inc. in 1975, and is its Vice President. His real estate experience encompasses leasing, property management, finance, development, and construction of multi-family apartments and commercial properties. He also prepares due diligence financial review of prospective investment properties for the Dakota REIT. Mr. Knutson is a licensed real estate broker in North Dakota.

Bradley Fay, Secretary
Mr. Fay is a 1983 graduate of North Dakota Statue University with a BA in Ag. Economics. Mr. Fay is a small business owner and is personally invested in multi-family apartment and commercial property in North Dakota. His is presently involved in small business consultancy ranging from export market development to grant assembly. He holds the Series 6, 7 and 63 Securities Licenses. In 1993 Mr. Fay worked for the North Dakota Securities Departments as an investigator. He has been a founding shareholder in several start-up, value-added companies and cooperatives such as: Dakota Growers Pasta Company, and United Spring Wheat Producers. Mr. Fay has served on the Board of Directors for the National Association of Wheat Growers and seven years on the North Dakota Grain Growers Association Board of Directors. He completed a term as NDGGA State President in 1995. He presently serves as Secretary of the Board of Trustees and on the Finance Committee of The Dakota REIT.

Ray Braun, Treasurer
Mr. Braun attended the University of North Dakota. He has been a licensed public accountant since 1959. He is the managing partner of Ludvigson and Braun, located in Valley City, North Dakota. The firm specializes in real estate accounting services for real estate investors and property managers. These services include the analysis and reporting of the leasing, financing and development of multi-family apartments and commercial properties. He is presently the owner of 84 multi-family apartment units and commercial property in North Dakota. In addition to his accounting practice Mr. Braun serves on the Board of Directors for the Valley City Development Corporation. Mr. Braun serves as Treasurer of the Dakota REIT's Board of Trustees.

Disclaimer: Dakota REIT does not intend this Web site to be a solicitation related to any particular company, nor does it intend to provide investment, legal or tax advice. Investors should consult with their own investment, legal or tax advisers regarding the appropriateness of investing in any of the securities or investment strategies discussed in this Web site. Nothing herein should be construed to be an endorsement by Dakota REIT of any specific company or products or as an offer to sell or a solicitation to buy any security or other financial instrument or to participate in any trading strategy. Dakota REIT expressly disclaims any liability for the accuracy, timeliness or completeness of data in this Web site. Any investment returns or performance data (past, hypothetical, or otherwise) are not necessarily indicative of future returns or performance.