Security Capital Research & Management Incorporated (Security Capital) has a deep and seasoned investment team contributing to the implementation of our investment process. The Portfolio Management Committee comprised of Anthony R. Manno Jr., Kenneth D. Statz, and Kevin W. Bedell directs all investment decisions and each have consistent tenure since inception. These committee members average 30 years of investment and real estate experience in all market cycles since the 1970s. Biographies of Security Capitalís senior officers follow.
ANTHONY R. MANNO JR . is CEO, President and Chief Investment Officer of
Security Capital Research & Management Incorporated. He is Chairman, President and Managing Director
of Security Capitalís Private Fund. Prior to joining Security Capital in 1994, Mr. Manno spent 14 years
with LaSalle Partners Limited as a Managing Director, responsible for real estate investment banking
activities. Mr. Manno began his career in real estate finance at The First National Bank of Chicago and
has 37 years of experience in the real estate investment business. He received an MBA in Finance with
honors (Beta Gamma Sigma) from the University of Chicago and graduated Phi Beta Kappa from Northwestern
University with a BA and MA in Economics. Mr. Manno is a Certified Public Accountant and was awarded an
Elijah Watt Sells Award and is a recipient of the President's Call to Service Award, December 2008.
KENNETH D. STATZ is a Managing Director and Senior Market Strategist of
Security Capital Research & Management Incorporated where he is responsible for the development and
implementation of portfolio investment strategy. Prior to joining Security Capital in 1995, Mr. Statz was
a Vice President in the Investment Research Department of Goldman, Sachs & Co., concentrating on research
and underwriting for the REIT industry. Previously, he was a REIT Portfolio Manager and a Managing Director
of Chancellor Capital Management. Mr. Statz has 29 years of experience in the real estate securities industry
and received an MBA and a BBA in Finance from the University of Wisconsin.
KEVIN W. BEDELL is a Managing Director of Security Capital Research & Management
Incorporated where he directs the Investment Analysis Team, which provides in-depth proprietary research on publicly
listed companies. Prior to joining Security Capital in 1996, Mr. Bedell spent nine years with LaSalle Partners
Limited where he was Equity Vice President and Portfolio Manager, with responsibility for strategic, operational
and financial management of a private real estate investment trust with commercial real estate investments in
excess of $1 billion. Mr. Bedell has 24 years of experience in the real estate securities industry and received
an MBA in Finance from the University of Chicago and a BA from Kenyon College.
ROBERT W. CULVER is a Managing Director of Security Capital Research &
Management Incorporated and also a Managing Director of Security Capitalís Private Fund where he focuses on
transaction structuring, financial analysis and operations. Previously, he worked for Security Capital Group
affiliate InterPark, where he was Senior Vice President of Finance and helped build the company from start-up
to $850 million in assets in five years. Prior to InterPark, he was an Associate with ProLogis Trust.
Mr. Culver received his MBA in Finance and Real Estate from the Wharton School of the University of Pennsylvania
and his BA from the University of Michigan.