Robert Lieber, CEO joined RSO as CEO in 2016. He is also an Executive Managing Director of C-III Capital Partners, the parent company of RSO’s external manager. Mr. Lieber joined C-III in 2010 after having served under New York City Mayor Michael R. Bloomberg as Deputy Mayor for Economic Development. Prior to joining the Bloomberg administration in January of 2007, Mr. Lieber worked at Lehman Brothers for more than 23 years, serving as Managing Director in Lehman's Real Estate Private Equity Fund and as the Global Head of Real Estate Investment Banking before retiring in 2006. Mr. Lieber is a member of the Board of Directors of NYSE listed Tutor Perini Corporation, a public construction company and sits on the Audit and Nominating & Corporate Governances committees. He also serves as a Director of ACRE Realty Investors, a publicly traded real estate investment trust headquartered in Atlanta, Georgia. He is a past Chairman of the Zell-Lurie Real Estate Center at the Wharton School, and has served on the Board of Trustees for the Urban Land Institute. Mr. Lieber holds a B.A. from the University of Colorado and an M.B.A. from The University of Pennsylvania’s Wharton School of Business
David J. Bryant, has been our Senior Vice President, Chief Financial Officer, Chief Accounting Officer and Treasurer since June 2006. From 2005 to 2006 Mr. Bryant served as Senior Vice-President, Real Estate Services, at Pennsylvania Real Estate Investment Trust, a publicly-traded (NYSE: PEI) REIT principally engaged in owning, managing, developing and leasing malls and strip centers in the eastern United States. From 2000 to 2005, Mr. Bryant served as PEI’s Senior Vice President - Finance and Treasurer, and was its principal accounting officer.
Jeffrey D. Blomstrom, has been our Senior Vice President
since March 2005. Mr. Blomstrom has been President and Managing Director
of Resource Financial Fund Management, Inc., an asset management subsidiary
of Resource America, since 2003. Mr. Blomstrom serves as the head
of collateral origination and as a member of the credit committee
for Trapeza Capital, Resource America’s trust preferred security
collateral manager. From 2001 to 2003 Mr. Blomstrom was a Managing
Director at Cohen and Company. From 2000 to 2001 he was Senior Vice
President of iATMglobal.net, Inc., an ATM software development company.
Mr. Blomstrom was, from 1999 to 2000, an associate at Covington &
Burling, a law firm, where he focused on mergers and acquisitions
and corporate governance.
David E. Bloom, has been our Senior Vice President-Real Estate Investments since March 2005. Mr. Bloom has been Senior Vice President of Resource America since 2001. He has also been President of Resource Real Estate, Inc., a wholly-owned real estate subsidiary of Resource America, since 2004 and was President of Resource Capital Partners, an indirect wholly-owned subsidiary of Resource America, from 2002 to 2006. From 2001 to 2002 he was President of Resource Properties, a former real estate subsidiary of Resource America. Before that he was Senior Vice President at Colony Capital, LLC, an international real estate opportunity fund, from 1999 to 2001. From 1998 to 1999 he was Director at Sonnenblick-Goldman Company, a real estate investment bank. From 1995 to 1998 he was an attorney at the law firm of Willkie Farr & Gallagher, LLP.
Shelle Weisbaum, Shelle Weisbaum serves as Senior Vice President, General Counsel and Secretary for Resource Real Estate and Senior Vice President and Chief Legal Officer for Resource Real Estate Opportunity REIT and Resource Real Estate Opportunity REIT II. Prior to joining Resource Real Estate, Ms. Weisbaum practiced commercial real estate law as an associate and later as a partner at Ledgewood Law, a Philadelphia-based law firm. Previously, Ms. Weisbaum was Vice President and Assistant General Counsel at the Philadelphia Stock Exchange. Ms. Weisbaum received a Bachelor of Science in Business Administration from Boston University and a Juris Doctorate from Temple University.
Other Significant Employees
The following sets forth certain information regarding other significant employees of the Manager and Resource America who provide services to us:
Thomas C. Elliott, has been our Senior Vice President-Finance and Operations since September 2006 and, prior to that, was our Chief Financial Officer, Chief Accounting Officer and Treasurer from September 2005 to June 2006. He was our Senior Vice President - Assets and Liabilities Management from June 2005 until September 2005 and, before that, served as our Vice President - Finance from March 2005. Mr. Elliott has been Chief Financial Officer of Resource America since December 2009 and Senior Vice President since 2005. He was Senior Vice President - Finance and Operations of Resource America from 2006 to December 2009; Senior Vice President – Finance from 2005 to 2006 and Vice President - Finance from 2001 to 2005. From 1997 to 2001 Mr. Elliott was a Vice President at Fidelity Leasing, where he managed all capital market functions, including the negotiation of all securitizations and credit and banking facilities in the U.S. and Canada. Mr. Elliott also oversaw the financial controls and budgeting departments.
Alan F. Feldman, has been our Senior Vice President-Real Estate Investments since March 2005. Mr. Feldman has been Chief Executive Officer of Resource Real Estate since 2004 and Senior Vice President of Resource America since 2002. Mr. Feldman was President of Resource Properties from 2002 to 2005. From 1998 to 2002, Mr. Feldman was Vice President at Lazard Freres & Co., an investment banking firm, specializing in real estate mergers and acquisitions, asset and portfolio sales and recapitalization. From 1992 through 1998, Mr. Feldman was Executive Vice President of PREIT-RUBIN, Inc. the management subsidiary of Pennsylvania Real Estate Investment Trust and its predecessor, The Rubin Organization. Before that, from 1990 to 1992, he was a Director at Strouse, Greenberg & Co., a regional full service real estate company.
Kevin M. Finkel, has been our Vice President-Real Estate Investments since January 2006. He has also been employed by Resource Capital Partners since 2002, having been its Vice President and Director of Acquisitions from 2003 to 2006 and President since 2006. Mr. Finkel has also been an officer of Resource Real Estate since 2004, and is currently its Executive Vice President and Director of Acquisitions. In 2000, Mr. Finkel was an investment banking Associate at Lehman Brothers. From 1998 to 1999, Mr. Finkel was an Associate at Barclays Capital, the investment banking division of Barclays Bank PLC. From 1994 to 1998, Mr. Finkel was an investment banker at Deutsche Bank Securities, the investment banking division of Deutsche Bank AG.
Kyle Geoghegan, has been our Senior Vice President – Loan Originations since 2007. Mr. Geoghegan has been a Managing Director of Resource Real Estate Funding, Inc., a real estate subsidiary of Resource America, since July 2006. Mr. Geoghegan co-manages the whole loan origination platform for Resource Real Estate Funding and is based in Los Angeles. Mr. Geoghegan worked at Bear Stearns from January 1998 to May 2006, serving as a Managing Director who co-managed the Bear Stearns Commercial Mortgage office in Los Angeles. Prior to joining Bear Stearns, Mr. Geoghegan spent four years as a real estate loan officer at PNC Bank in Philadelphia, PA, primarily originating construction and bridge loans.
Purvi Kamdar, has been our Director of Marketing and Investor Relations since 2007. Ms. Kamdar is responsible for coordinating fundraising and investor relations for Resource America, Inc. and its affiliates. Before joining Resource America, Inc., Ms. Kamdar worked with Sigma Capital, an S.A.C. hedge fund, and prior to that she worked at Bear, Stearns & Company. She received both an M.B.A. and B.S. in economics, magna cum laude, from The University of Pennsylvania’s Wharton School of Business.
Yvana Melini, has been our Vice President and Director
of Asset Management since 2008. Ms. Melini has served as Vice President
of Debt Asset Management for Resource Real Estate since 2006. From
2000 to 2006, Ms. Melini served as a Vice President of both the Structured
Asset Management and CMBS Credit Administration groups for Capmark
Finance, Inc. (formerly GMAC Commercial Mortgage Corporation). Prior
to her employment with Capmark, Ms. Melini served as Senior Underwriter
for the Northeast Commercial Real Estate Lending division of Washington
Mutual Bank. Ms. Melini has also privately consulted on various due
diligence projects for large institutional investors and B-note buyers
within the CMBS marketplace.
Darryl Myrose, has been our Senior Vice President – Loan Originations since 2007. Mr. Myrose has been a Managing Director of Resource Real Estate Funding since July 2006. Mr. Myrose co-manages the whole loan origination platform for Resource Real Estate Funding and is based in Los Angeles. Mr. Myrose worked at Bear Stearns from April 1996 to May 2006, serving as a Managing Director who co-managed the Bear Stearns Commercial Mortgage office in Los Angeles. Prior to joining Bear Stearns, Mr. Myrose was employed with Clarion Advisors (formerly Jones Lang Wootton Realty Advisors) where he was an asset management analyst.
Joan M. Sapinsley, has been our Senior Vice President – CMBS since 2007. Ms. Sapinsley joined Resource Financial Fund Management, Inc. in February 2007 as Managing Director and manages our CMBS portfolio. Prior to joining Resource Financial Fund Management, Ms. Sapinsley was a Managing Director at TIAA, where she worked from 1992 through 2006 purchasing CMBS. She was responsible for all single borrower and single asset CMBS, as well as subordinate CMBS and B-notes. She also directed TIAA’s conduit origination and securitization activities. Before TIAA, Ms. Sapinsley was a Director in the Financial Services Group of Cushman & Wakefield and a real estate consultant at Laventhol & Horwath.
The following bios set forth information regarding our directors. All of our executive officers are employees of Resource America.
Andrew L. Farkas
Andrew has been a director since September 2016. Andrew L. Farkas serves as Chief Executive Officer of C-III Capital Partners LLC, a fully diversified commercial real estate services and investment management company. Since the formative transaction that created C-III Capital Partners in 2010, Mr. Farkas’ strategic leadership has provided the impetus for growth within the company and in connection with various acquisitions expanding the company’s capabilities. Mr. Farkas also serves as the Managing Member, Chairman, and CEO for Island Capital Group LLC, a leading real estate merchant bank that is the controlling parent company of C-III. Prior to his involvement with C-III Capital Partners, Mr. Farkas served as Chairman and Chief Executive Officer of Insignia Financial Group (NYSE: IFS), a global real estate services company that he founded in 1990. At its peak, Insignia was the largest owner and operator of multifamily residential housing and owned, controlled, and managed approximately 350,000 apartments and more than 200 million square feet of commercial space. This real estate portfolio’s gross capitalization was in excess of $10 billion. Insignia merged with CB Richard Ellis in July 2003 to form the world’s largest commercial real estate services group. Mr. Farkas earned his B.A. degree in economics from Harvard in 1982.
Jeffrey P. Cohen
Jeff has been a director since September 2016.Jeff Cohen is an Executive Managing Director of C-III Capital Partners and has primary responsibility for its mergers and acquisitions activity. He is also the President of Island Capital Group. He has been a principal of Island Capital since it was established in 2003. Mr. Cohen also serves as President of Anubis Advisors, which provides strategic planning, executive management, restructuring, M&A and other financial services to Island Capital Group’s portfolio companies, including C-III Capital Partners. Prior to joining Island Capital Group in 2003, Mr. Cohen was an Executive Vice President of Insignia Financial Group. During his time at Insignia, he focused on mergers and acquisitions, principal investment opportunities and Insignia's fund management activities. Before joining Insignia, Mr. Cohen served as a corporate attorney with the New York City law firm of Rogers & Wells (now Clifford Chance) where he primarily worked on matters relating to mergers and acquisitions, capital markets, and corporate finance. Mr. Cohen earned a juris doctor degree, magna cum laude, from Albany Law School and a Bachelor of Arts degree from the University of Vermont, where he majored in Political Science and Economics. He is a Trustee of Dean College in Franklin, MA and serves on the Board’s Executive Committee and Investment Committee.
Steven J. Kessler
Steven J. Kessler has been our Chairman since November 2009 and was our Senior Vice President - Finance from September 2005 to November 2009 and, before that, served as our Chief Financial Officer, Chief Accounting Officer and Treasurer from March 2005 to September 2005. Mr. Kessler has been Executive Vice President of Resource America since 2005 and was Chief Financial Officer from 1997 to December 2009 and Senior Vice President from 1997 to 2005. He was a Trustee of GMH Communities Trust, a previously publicly traded (NYSE: GCT) specialty housing REIT, from 2004 to 2008 when GCT was sold. He was Vice President - Finance and Acquisitions at Kravco Company, a then national shopping center developer and operator, from 1994 to 1997. From 1983 to 1993 he was employed by Strouse Greenberg & Co., a regional full service real estate company, ending as Chief Financial Officer and Chief Operating Officer. Before that, he was a partner at Touche Ross & Co. (now Deloitte & Touche LLP), independent public accountants.
Walter T. Beach
Walter T. Beach has been a director since March 2005. Mr. Beach has been Managing Director of Beach Investment Counsel, Inc., an investment management firm, since 1997. From 1993 to 1997, Mr. Beach was a Senior Analyst and Director of Research at Widmann, Siff and Co., Inc., an investment management firm, where, beginning in 1994, he was responsible for the firm's investment decisions for its principal equity product. Before that he was an associate and financial analyst at Essex Financial Group, a consulting and merchant banking firm, and an analyst at Industry Analysis Group, an industry and economic consulting firm. Mr. Beach has served as a director of The Bancorp, Inc., a publicly-traded (NASDAQ: TBBK) bank holding company, and its subsidiary bank, The Bancorp Bank, since 1999. Mr. Beach has also served as a director of Cohen & Company, a publicly-traded (AMEX:COHN) investment firm specializing in credit-related fixed income products and investments, since December 2009.
William B. Hart
William B. Hart has been a director since March 2005. Mr. Hart was Chairman of the Board of Trustees of the National Trust for Historic Preservation from 1999 to 2004. He was also a director of Anthem, Inc. (now Wellpoint, Inc.), a publicly-traded (NYSE: WLP) health insurance company, from 2000 to 2004. Mr. Hart was Director of SIS Bancorp from 1995 to 2000. From 1988 to 1999, Mr. Hart served in various positions with Blue Cross/Blue Shield of New Hampshire, ending as Chairman of the Audit Committee and Chairman of the Board of Directors from 1996 to 1999. He also served as President of the Foundation for the National Capital Region, Washington, DC, from 1993 to 1996 and President of The Dunfey Group, a private investment firm, from 1986 to 1998. From 1986 to 1994 he was a director of First NH Banks where he was Chairman of the Audit Committee from 1992 to 1994.
Gary Ickowicz has been a director since February 2007. Mr. Ickowicz has been a Managing Principal of Lazard Freres Real Estate Investors, a manager of funds invested in debt and equity securities of North American real estate assets and enterprises, since 2001. He was a director of Lazard Freres's real estate investment banking unit from 1989 through 2001. Since 2000 he has been a director of Grant Street Settlement, and since 2002 he has been a director of NCC/Neumann, both not-for-profit developers of senior housing. Since 2001 he has been a director of Commonwealth Atlantic Properties, Inc., a privately-held REIT. From 2001 to 2006 he was a director of Kimsouth, Inc., a joint venture with Kimco Realty Corporation, a publicly-traded (NYSE: KIM) REIT.
Murray S. Levin
Murray S. Levin has been a director since March 2005. Mr. Levin is a senior litigation partner at Pepper Hamilton LLP, a law firm with which he has been associated since 1970. Mr. Levin served as the first American president of the Association Internationale des Jeunes Avocats (Young Lawyers International Association), headquartered in Western Europe. He is a past president of the American Chapter and a member of the board of directors of the Union Internationale des Avocats (International Association of Lawyers), a Paris-based organization that is the world's oldest international lawyers association. Mr. Levin was a member of the managing board of Atlas Pipeline Partners GP from 2001 to March 2005.
P. Sherrill Neff
P. Sherrill Neff has been a director since March 2005. Mr. Neff is a founder of Quaker BioVentures, Inc., a life sciences venture fund, and has been a Partner since 2002. He was a director of Resource America from 1998 to March 2005. From 1994 to 2002 he was President and Chief Financial Officer, and from 1994 to 2003, a director of Neose Technologies, Inc., a then-publicly-traded (NASDAQ: NTEC) life sciences company. Mr. Neff was also a director of The Bancorp, Inc. from its formation in 1999 until 2002. Mr. Neff is on the boards of directors of five privately held Quaker BioVentures portfolio companies. He is a member of the board of directors of the National Venture Capital Association.
Richard L. Fore
Richard L. Fore has been a director since March 2013. Mr. Fore has been Chairman and Chief Executive Officer of Fore Property Company, a national real estate development company that builds, owns and manages multi-family residences throughout the United States, since 1994. Prior to founding Fore Property Company, he was a partner at Lincoln Property Company. Mr. Fore co-founded the National Multi Housing Council, the leading trade association in the apartment industry, in 1978. He was also appointed to the Presidential Housing Commission by President Reagan. Mr. Fore served in the U.S. Department of Housing and Urban Development during the President Nixon and President Ford administrations.
Stephanie H. Wiggins
Stephanie H. Wiggins has been a director since June 2013. Ms. Wiggins has been Executive Vice President and Chief Investment Officer for the AFL-CIO Housing Investment Trust since 2000. From 1997 to 2000 she served in various positions at Prudential Mortgage Capital Company (formerly WMF Group), culminating as Director and Senior Investment Officer. She previously served as a Senior Underwriter and Review Appraiser at Green Park Financial (currently d/b/a Walker & Dunlop). Ms. Wiggins is a member of the Urban Land Institute Council, National Housing Conference and Mortgage Bankers Association.
New York, NY 10019
1845 Walnut Street
Philadelphia, PA 19103