Singerman Real Estate, LLC

SINGERMAN REAL ESTATE, LLC is an opportunistic real estate investment firm that has deep experience executing complex transactions and unlocking embedded value through the ownership of properties, real estate loans and operating companies. SRE focuses on maximizing risk-adjusted returns through investments in both debt and equity across all major asset classes including office, retail, hotel, and multifamily, in addition to secondary real estate asset classes including student housing and senior housing. In aggregate, the Principals of SRE have experience with the execution of approximately $10 billion of acquisitions, financings or recapitalizations comprising more than 75 transactions across all major property types. To provide the flexibility necessary in order to generate attractive risk-adjusted returns, SRE maintains the following investment strategy: Capital structure agnostic. Depending on the investment environment, attractive investment opportunities may present themselves as debt or equity investments. In the current cycle, opportunities are more likely to be initially sourced through debt related investments or an asset recapitalization. Investment across all major asset classes. SRE believes sector oriented funds create unnecessary pressure to commit capital to a targeted strategy. Having the depth of experience in all major asset classes, including office, retail, hotel, multi-family, student housing, and senior housing enhances the potential to find optimal risk-adjusted returns. Flexibility of investment size. SRE has the capacity and relationships to execute deals deemed too small for large real estate private equity funds relative to their fund size, while also capitalizing on the ability to partner with the large private equity funds for larger deals. SRE believes that a significant portion of the investments will require less than $15 million of equity; however, SRE Principals have experience executing acquisitions ranging in size from $1 million to over $700 million. Broad geographic scope. SRE will focus on the top 30 U.S. Metropolitan Statistical Areas (“MSAs”) and has direct investment experience investing in major markets such as New York, Los Angeles, San Francisco, San Diego, Chicago, Minneapolis, Washington DC, Seattle, Houston, Atlanta, Boston, and Miami. SRE has a deep breadth of relationships in each of these locations in order to leverage market specific insight.