Michael D. McKee, Principal
Chief Executive Officer
Michael D. McKee is Chief Executive Officer of Kennedy Associates Real Estate Counsel, LP., the largest privately-held real estate investment advisor in the United States. Kennedy began a partnership with Bentall LP, the largest real estate investment advisor in Canada in 2006, and is in the process of combining its ownership with them to form Bentall Kennedy. On a combined basis, Bentall Kennedy will rank among the largest of both public and private advisors in North America.

Mr. McKee is responsible for all aspects of Kennedy's operations, and upon the combination, will be responsible for the United States operations of Bentall Kennedy. Bentall Kennedy will focus primarily on direct ownership, acquisition, development, leasing and operation of real estate assets on behalf of its clients.

Previously, Mr. McKee was Chief Executive Officer and Vice Chairman of the Board of Directors of The Irvine Company, a 140-year-old, privately held company known for its vast holdings of Class A properties in California, as well as the balanced, sustainable communities it has planned and developed on The Irvine Ranch in Orange County, California.

Mr. McKee was responsible for overseeing all of the Company's businesses, operations and administrative functions involving its myriad land-development activities and investment property acquisitions and construction throughout California. Previously, he served as Chief Legal Officer ('94–'96), Vice Chairman and Chief Financial Officer ('96–'98) and Vice Chairman and Chief Operating Officer (‘98–'05) of The Irvine Company.

At the time of his retirement, The Irvine Company was the only "A" Rated [Fitch Rating Service] real estate company in the United States. Many of the Company's land and property holdings are in Orange County, California but the Company also owns property in Los Angeles, San Diego and Silicon Valley. The portfolio includes approximately 400 office buildings, 40 retail centers, 90 apartment communities, three hotels, five marinas and three golf courses. During Mr. McKee's tenure, the Company tripled in size and grew to become one of the top five real estate companies in the U.S. in market value. He supervised the expansion of the Company from approximately 500 employees in 1994 to 4,000 employees in 2008.

Before joining The Irvine Company in 1994, Mr. McKee was the managing partner of the Orange County office of Latham & Watkins LLP, an international law firm. He specialized in corporate finance matters, with special emphasis on investment banker and public company representation.

Mr. McKee has been active in the Real Estate Investment Trust (REIT) industry since 1979, and has represented eight different public REITs during their formation and entry into the public markets. From 1979 to 1984, Mr. McKee also provided legal counsel to the Los Angeles Olympic Organizing Committee regarding sponsorship, merchandise and venue matters.

Mr. McKee is a member of the board of directors of Kennedy Associates, HCP, Inc. (NYSE) and Realty Income Corporation (NYSE). He was previously on the Board of Directors of Mandalay Bay Resorts (NYSE), Irvine Apartment Communities (NYSE) and Oasis Residential (NYSE).

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John M. Parker, Principal
President
Mr. Parker is a founding principal of Kennedy Associates. During his thirty years at the firm, he has served as Director of Asset Management, Director of Acquisitions, Chief Executive Officer and, currently, President. In this role, Mr. Parker is involved in strategic planning, chairs the Investment Committee, and focuses on key client relationships.

Mr. Parker serves as a Director of the National Association of Real Estate Investment Managers (NAREIM), a Director of the Elite Group of Mutual Funds, and is an active participant in the Urban Land Institute (ULI). He holds an undergraduate degree from Stanford University and a Masters of Business Administration from Harvard University. He represented the United States as an Olympic Athlete in 1968, Mexico City, and 1972, Munich (Bronze Medal) and as a U.S. Navy officer during the Vietnam War.

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Preston R. Sargent, Principal
Executive Vice President, Portfolio Management
Mr. Sargent joined Kennedy in 2000 as Executive Vice President and Director of Asset Management. In that role, Mr. Sargent oversaw the expansion of Kennedy’s Asset Management team as assets grew from $3.5 billion to approximately $9 billion by year-end 2006. In early 2007, Mr. Sargent transitioned to Portfolio Manager for the Multi-Employer Property Trust, the $7 billion open-end commingled fund for which Kennedy is the exclusive real estate investment advisor.

Mr. Sargent has been in real estate investment management and pension advisory for 27 years. Immediately before joining Kennedy, he was a Vice President at GE Asset Management (GEAM) where he worked for approximately ten years. At the time of his departure from GEAM, Mr. Sargent was a portfolio leader responsible for all new investment activity and asset and portfolio management in the central third of the United States. Prior to GEAM, he held positions in acquisitions, debt-workout, and asset management at Aetna Realty Investors in Hartford and William Blair Realty in Chicago. Mr. Sargent began his real estate career in 1983 as an Associate at LaSalle Partners in Chicago.

Mr. Sargent has a Juris Doctorate degree from Case Western Reserve University in Cleveland. He also holds a BA degree in political science/economics from Colorado College. He is active in the National Association of Real Estate Investment Managers (NAREIM), the Urban Land Institute (ULI), the Pension Real Estate Association (PREA), and the Property Working Group of the United Nations Environment Programme Finance Initiative (UNEP FI).

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Robert A. Ratliffe, Principal
Executive Vice President, Portfolio Management

Bob Ratliffe joined Kennedy in July 2003 as Senior Vice President – Capital Markets and became a principal of the firm in 2005. He assumed responsibility for Separate Account Portfolio Management and client services in 2008. He serves on the firm’s Executive and Investment Committees and its Board of Managers as well as serving as Chairman of Kennedy’s Sustainability Committee.

Mr. Ratliffe joined Kennedy after spending seven years as a principal at Eagle River Investments, a private equity firm formed by Craig McCaw after the sale of McCaw Cellular Communications, Inc. to AT&T. In addition to telecommunications and venture capital investments, he was responsible for the purchase and disposition of various real estate assets for McCaw. Prior to joining Eagle River, Mr. Ratliffe spent ten years with McCaw Cellular in several senior management roles. Previously he served as Vice President and Senior Investment Banking Officer at Bank of America, where he was involved in merger and acquisition consulting.

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Charles R. Burd II, Principal
Executive Vice President, Portfolio Management
Chuck Burd joined Kennedy in spring 2009. His responsibilities include jointly managing the firm’s separate account business, contributing to the overall investment strategy of the company, and new product development. In addition, he serves on the Executive and Investment Committees.

Mr. Burd has been in real estate investment management and pension advisory services for over 30 years and brings a broad range of experience in acquisitions, portfolio management, and client relations to the firm. Immediately prior to joining Kennedy, he was Executive Director, Head of Separate Accounts for Morgan Stanley Real Estate. In this capacity he was responsible for the oversight of $8.5 billion in assets, direct management of several major separate account relationships, and served on the U.S. Investment Committee. Prior to Morgan Stanley, Mr. Burd held senior positions at several real estate advisory firms including Bristol Group and AEW.

Mr. Burd is an active member of the Urban Land Institute (recent council chair) and Pension Real Estate Association. He holds a BS/Engineering Degree from Tufts University.

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Steven S. Bremner, CPA
Executive Vice President, Chief Financial Officer
Steve Bremner is a financial manager with more than 30 years of accounting and information systems development experience. He joined Kennedy in the spring of 2000. Mr. Bremner began his career in 1977 in Seattle, where he worked for six years as an accountant and management consultant with Arthur Andersen. Since leaving public accounting, he has held financial and general management positions in international trade, natural resources extraction, and building products distribution.

Mr. Bremner received an MBA degree from the University of Oregon and a BS degree from the University of California, Berkeley. He is a member of the Beta Gamma Sigma national honor society in business and management, and is a Senior Accounting Advisor to the National Association of Real Estate Investment Managers (NAREIM). He is licensed as a CPA in the state of Washington and is a member of the Washington Society of Certified Public Accountants and the American Institute of Certified Public Accountants.

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Shobi S. Khan, Principal
Chief Investment Officer
Shobi Khan joined Kennedy in the fall of 2007 and is the Chief Investment Officer. He is directly responsible for acquisition activity and chair's Kennedy's Investment Committee. He also serves on the firm's Executive Committee.

Mr. Khan comes to Kennedy after 11 years with Equity Office Properties Trust (EOP) where most recently he served as Senior Vice President of Investments. At EOP he was responsible for new acquisitions in the Eastern U.S., joint ventures, REIT mergers and acquisitions, international opportunities, and other corporate transactions. Mr. Khan led the underwriting of the three largest office REIT mergers ($16 billion) including EOP's merger with Beacon, Cornerstone, and Spieker Properties. In addition, Mr. Khan was involved with EOP's $39 billion sale to Blackstone in February 2007, at the time the largest leveraged buyout in U.S. business history. He also completed over $3 billion of single/portfolio acquisitions, developments, dispositions, and joint venture transactions. Mr. Khan has also spent portions of his career in asset management and development.

Prior to joining EOP in 1996, Mr. Khan served with Katz Hollis, Inc. in Los Angeles, where he completed more than $5 billion in tax allocation bond transactions and public/private-financing assignments throughout the United States. Before joining Katz Hollis, he was with Arthur Andersen in San Francisco where he was responsible for various real estate consulting engagements.

Mr. Khan is a member of the Urban Land Institute. He holds an MBA from the University of Southern California, and a bachelor's degree from the University of California, Berkeley.

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David L. Antonelli, Principal
Senior Vice President
David Antonelli joined Kennedy Associates in 1995 as Vice President in the Acquisitions group and established the firm's Washington, D.C. office. Mr. Antonelli is responsible for all of Kennedy's acquisition and other investment activities in the Mid-Atlantic and Northeast regions.

From 1989 through 1995, Mr. Antonelli was employed by New York-based Elders American Realty Capital Inc., a joint venture of Foster's Brewing Group Limited of Australia and American Realty Capital, Inc. In this capacity, he participated in the acquisition, asset management and disposition of $300 million of income-producing properties located throughout the United States. His responsibilities also included supervisory asset management of an existing $350 million portfolio of equity joint ventures. Initially hired as an Associate, Mr. Antonelli was ultimately promoted to Vice President.

From 1986 through 1988, Mr. Antonelli was a Financial Analyst in the management-consulting department of KPMG's Washington, D.C. office. His responsibilities included supporting the firm's clients in financial management, organization analysis, and development and implementation of computer-based financial management systems. 

Mr. Antonelli holds an MBA degree in finance from George Washington University and a BA degree in economics from Syracuse University. He is a member of the Urban Land Institute and the National Association of Industrial and Office Properties.

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Paul Boneham, LEED AP, Principal
Senior Vice President
Paul Boneham joined Kennedy in 2002 and is a Senior Vice President in the Acquisitions group, with primary responsibility for sourcing new investment opportunities in the Midwest region. Prior to joining Kennedy, he worked as a Managing Director with Rockwood Realty Associates, a private real estate investment-banking firm. Prior to working with Rockwood, he served as an Executive Vice President of Heitman Capital Management where he directed the property disposition activities of this pension advisory firm for seven years. Under his direction, the disposition department completed more than 200 sale transactions across the country having a cumulative value in excess of $7.3 billion.

Prior to joining Heitman, Mr. Boneham spent four years with Richard Ellis International, a real estate advisory firm with offices in more than thirty countries. As a shareholding principal, he ran the Chicago office of the firm, directing acquisition, asset management, valuation, and consulting assignments on behalf of foreign and domestic clients of the firm.

Previous to Richard Ellis, Mr. Boneham worked in the real estate investment department of The Prudential Insurance Company of America for eight years. During this time, he supervised or implemented more than 100 equity and debt transactions throughout the Midwest region, having a cumulative value in excess of $1.2 billion.

Mr. Boneham holds a Bachelor's Degree from the University of Wisconsin - Whitewater and a Master's Degree in business administration from The University of Wisconsin. He is an active member of The National Association of Industrial and Office Properties (NAIOP) and the Wisconsin Real Estate Alumni Association. He is also a licensed real estate broker in Illinois.

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Jeanette R. Flory, LEED AP, Principal
Senior Vice President
Ms. Flory joined Kennedy's Asset Management team in 1998 and is currently Director of Asset Management - MEPT. Ms. Flory has 21 years of real estate experience in marketing, due diligence, brokerage, leasing and asset management. She began her career with Kennedy as an Asset Manager in the Seattle, Washington office and later relocated to establish the Bethesda, Maryland Asset Management office in July 2002.

From 1993 to 1998, Ms. Flory was employed by IBEX Institutional Advisors, a pension fund advisor based in Coral Gables, Florida. She was asset manager for a portfolio containing over 1.5 million sf of office, industrial, retail, hotel, and resort properties. While with IBEX, Ms. Flory also headed up the due diligence activities company wide. She handled closings for over $300 million of acquisition, refinancing, and disposition.

Prior to IBEX, Ms. Flory was involved in acquisition and finance for several Dallas based real estate investment and brokerage companies.

Ms. Flory served on the Executive Board as Treasurer for the City of Coral Gables Business Improvement District. She was formerly a board member for the Northwest Chapter of Commercial Real Estate Women (CREW)-Northwest and was a member of the Executive Board for CREW-Miami serving as its Membership Director.

Ms. Flory received a BS degree in education from Bowling Green State University.

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Jim Howard, Principal
Senior Vice President
Jim Howard joined Kennedy in 2007 as Senior Vice President of Acquisitions, managing the Southern California regional office. He is responsible for all Kennedy acquisitions and investments in Southern California and Arizona.

Mr. Howard was Vice President of Acquisitions for the previous 13 years at Cornerstone Real Estate Advisers, a subsidiary of MassMutual. He directly sourced equity real estate investments on behalf of institutional clients. Mr. Howard produced over $1.75 billion of acquisition and development investments consisting of multi-family, office buildings, retail centers, and warehouses. These projects were located in California, Arizona, Colorado, and Texas. From 1988 to 1994—prior to joining Cornerstone—he worked for MetLife Real Estate Investments in Los Angeles, California. He served in asset management and originated equity and mortgage real estate investments. Before joining MetLife, he was with Hayes & Company in Pasadena, California as a commercial real estate leasing and investment broker.

Mr. Howard received his Masters in Real Estate Development and Bachelors in Business Administration from the University of Southern California.

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Michael R. McCormick, Principal
Senior Vice President
Michael McCormick joined Kennedy in 1995 and is a Senior Vice President for Asset Management. Mr. McCormick has been in charge of development and redevelopment investments, as well as overseeing operating assets, across every property type during that time. In 2007 he was appointed Director of Asset Management for the Western United States for MEPT. He has over 27 years of real estate experience.

From 1986 to 1994, Mr. McCormick was a Vice President for asset management for Travelers Realty Investment Company, a subsidiary of the Travelers Insurance Company. In this position he managed assets in over 20 major cities in the West, Midwest, Southwest regions of the United States. He was responsible for the operation of 4.3 million sf of office space, over one million sf of industrial space, approximately 2,000 multi-family units, and a number of retail and mixed-use properties. He supervised redevelopment and major capital projects in Chicago, Phoenix, and Salt Lake City. In addition, he took the lead in selling over twenty properties a various markets around the United States.

Prior to these positions, Mr. McCormick owned a real estate development consulting company, which performed work on over 50 projects in the greater Seattle area. He represented land owners in order to obtain master plan, zoning and planned unit development approvals. His company also performed feasibility analysis for projects, obtained project financing, and managed construction projects for its clients.

Mr. McCormick received a BA degree from Michigan State University.

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Scott Matthews, LEED AP, Principal
Senior Vice President
Scott Matthews joined Kennedy in July 2002 as a Vice President in asset management where he was responsible for a portfolio of over 4 million sf. In 2007, Mr. Matthews was promoted to Senior Vice President and assumed responsibilities as the Director of Asset Management for Kennedy's separate account portfolios. Mr. Matthews has over 22 years of real estate experience.

Immediately prior to joining Kennedy, Mr. Matthews held the position of Vice President of Asset Management for GE Financial Assurance in Seattle, where he had responsibility for portfolios in both the U.S. and Japan. His primary responsibilities included all aspects of asset management for the equity investment portfolio as well as value enhancement and disposition of REO assets. While at GE, he was significantly involved with the acquisition and portfolio management of a 189-property portfolio located throughout Japan.

Prior to joining GE, Mr. Matthews was a Senior Portfolio Manager at Cushman & Wakefield in Portland, Oregon, where he was responsible for the delivery of asset services to a variety of institutional clients. Mr. Matthews has also held Asset and Property management positions at Great American Bank, Draper & Kramer, and Equitec Financial Group.

Mr. Matthews is a LEED Accredited Professional, having demonstrated to the U.S. Green Building Council a thorough understanding of green building practices and principles and familiarity with LEED requirements, resources and processes. Mr. Matthews holds both the CCIM and CPM designations, and is an active member of the Building Owners & Managers Association (BOMA) and the Institute of Real Estate Management (IREM) Mr. Matthews received his BA degree from San Diego State University.

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