GEM Realty Capital, Inc.

Founded in 1994 and headquartered in Chicago, GEM Realty Capital is an integrated real estate investment firm. GEM invests in private-market real estate assets through GEM Realty Properties (“GRP”) and in publicly traded real estate securities through GEM Realty Securities (“GRS”). GRP is currently investing on behalf of its sixth opportunistic investment fund totaling $1 billion of equity commitments. GEM’s investors include pension funds, endowments, foundations, insurance companies, financial institutions and private clients. In total, GEM has approximately $5 billion in assets under management. Over the past 27 years, GEM Realty Properties has completed more than 160 private real estate transactions in a variety of property sectors and geographic markets with a total investment cost of over $8 billion. GEM Realty Securities invests primarily in publicly traded equity and debt securities of real estate related companies, including REITs, homebuilders and real estate operating companies. GEM’s private/public platform provides perspective, relationships, and real time information critical to identifying and underwriting compelling real estate investment opportunities for GEM Realty Properties. GEM’s senior partners average 30 years of real estate investment experience and together have successfully invested in real estate through several economic cycles. GEM’s investment committee sets top-down investment strategy for both GRP and GRS, drawing from its extensive perspective and expertise in private-market real estate assets and publicly traded real estate securities. As real estate and capital markets evolve, GEM develops investment themes, refines investment strategies, and executes investments to capitalize on both near and long-term trends.