A diverse range of skills and many years of combined institutional and entrepreneurial experience define the management team of The Praedium Group. Based in New York, Praedium includes seasoned real estate professionals with extensive experience in real estate investment, ownership, development, leasing, investment banking, law, workouts and related disciplines. All company functions are managed in New York - fund raising, investing, reporting, management, acquisitions and dispositions.

The Praedium Group's core executive team was established in 1991 and has been operating as a cohesive unit since its inception. Through the years, this group of senior professionals has developed close relationships with many of the industry's major players. The Praedium Group frequently collaborates and invests side-by-side with operating partners with expertise in their local markets and who provide local asset management services. These relationships provide Praedium with the capability to source the best opportunities that conform with its business strategy.

The environment at The Praedium Group fosters an entrepreneurial spirit. Innovative transactions, a proactive approach to asset management and creative investment solutions have traditionally been The Praedium Group's hallmark.


Founding Principals Russell Appel, Floyd Lattin
 
Investments  Christopher Hughes, Mason Sleeper, Mark Lippmann, Robert Murray, David Dowell, Scott Schonfeld, Asim Hamid, Adam Sterling
 
Asset Management Jeffrey Hertz, Marc Franco, Cynthia Kingston, David Krantz
 
Finance Frank Patafio, Ronald Strobl,
Victoria Abramov
 
Legal Laura Schaffer
 
Client Development &
Investor Relations
 Michelle Wells, Lynn Glantz, Elizabeth Culvahouse
 
Analysts Brian Abers, Jonathan Cohen, Meghan Guinee, Paul Huelskamp, Andrew Jacobson, Anthony Marconi
 
Administrative Jackie Brebnor, Darren Paquette, Virginia Rodriguez


Founding Principals


Russell Appel
President

A founder of The Praedium Group and its President, Mr. Appel has been building the Company since 1991 and has overseen all aspects of The Praedium Group's activities, including its strategy and its investment policy. In addition to his responsibilities with The Praedium Group, Mr. Appel ran CSFB's Commercial Mortgage Finance business from 1991 to 1994, where he became a Managing Director. At CSFB, Mr. Appel supervised the execution of commercial and multifamily asset securitization and sale advisory assignments totaling in excess of $13 billion. Prior to joining CSFB in 1991 and his association with The Praedium Group, Mr. Appel was a Vice President in the Real Estate Department of Goldman Sachs & Co. for five years. At Goldman Sachs, he was involved in real estate-related sales, financings, mergers and acquisitions and capital markets transactions totaling in excess of $3 billion. Mr. Appel holds a B.S. in Economics (magna cum laude) and an M.B.A. (with distinction) from the Wharton School of the University of Pennsylvania. Mr. Appel currently serves as the Chairman and is a board member of the Pension Real Estate Association.

Floyd Lattin
Chief Investment Officer

A founder of The Praedium Group and its Chief Investment Officer, Mr. Lattin directs The Praedium Group's policy and process relating to acquisitions, asset management, dispositions and financial reporting. Prior to joining CSFB in 1993, where he was a Director, and his association with The Praedium Group, Mr. Lattin was a Vice President in the Real Estate Group at Bankers Trust Company, now Deutsche Bank. During his ten-year tenure at Bankers Trust, Mr. Lattin established the bank's domestic and international real estate equity effort, chaired its real estate investment committee, served as Group Credit Officer for the Real Estate Finance Group's $6 billion portfolio and was charged with risk management and credit authority for all of the bank's real estate loans. Mr. Lattin is experienced in real estate loan origination, workouts and valuation techniques. Mr. Lattin holds a B.A. from Antioch College, an M.A. from New York University and an M.B.A. from Columbia University.

Investments

Christopher Hughes
Principal

Mr. Hughes is a senior professional responsible for acquisitions in the eastern United States. Mr. Hughes' broad professional background includes extensive real estate experience, ranging from development and asset management to public market REIT capital-raising activities. Prior to joining CSFB, where he was a Vice President, and his association with The Praedium Group in 1997, Mr. Hughes worked for Salomon Brothers, Inc. where he concentrated on public market REIT transactions, particularly M&A activity. Previously, Mr. Hughes was involved in principal real estate transactions with a regional real estate development and management company. A graduate of the University of Maryland, Mr. Hughes received a B.S. in Finance and also holds an M.S. in Real Estate Finance from the Massachusetts Institute of Technology.



Mason Sleeper
Principal

Mr. Sleeper joined The Praedium Group in 2008 and is responsible for sourcing mezzanine and debt investments and expanding the Firm's reach in the credit markets. Prior to joining The Praedium Group, Mr. Sleeper served as a Managing Director in the Real Estate Finance group at Credit Suisse, handling the structuring and origination of large real estate mortgage and mezzanine loans, as well as equity and preferred equity investments. During his tenure at Credit Suisse, Mr. Sleeper oversaw the workout and liquidation of a real estate portfolio originated by CSFB's prior securitization group valued at nearly $10 billion. Prior to joining Credit Suisse, Mr. Sleeper was a partner at the law firm Shearman & Sterling in New York where he specialized in real estate and corporate finance. Mr. Sleeper received a B.A. in Economics (Magna Cum Laude) from Tufts University, a J.D. from Cornell Law School (Law Review) and an M.B.A. from Cornell Business School.



Mark Lippmann
Director

Mr. Lippmann joined The Praedium Group in 2004 and is responsible for acquisitions in the southeast and south central regions. Prior to joining The Praedium Group, he was a Senior Managing Director at Kennedy Wilson, Inc., responsible for developing principal investment, asset management and service platforms for real estate investments. Mr. Lippmann received a B.S. in Consumer Economics and Housing from Cornell University.



Robert Murray
Director

Mr. Murray joined The Praedium Group in 2003 and is responsible for acquisitions in the mid-western and western United States. Prior to joining The Praedium Group, he spent nine years in the Real Estate Investment Banking Group at Salomon Smith Barney. During his tenure at Salomon, Mr. Murray conducted all types of real estate deals, including portfolio transactions and capital raising for both public and private real estate companies. Additionally, he helped establish Salomon's European real estate effort. Mr. Murray holds a B.A. in English from the College of the Holy Cross.



David Dowell
Vice President

Mr. Dowell joined The Praedium Group in 2008 and is responsible for acquisitions in the mid-western region of the United States. Prior to joining The Praedium Group, Mr. Dowell was an Associate Director with GE Real Estate's North America Equity Venture Investments team, and is a graduate of GE's Experienced Commercial Leadership Program. During his tenure with GE Real Estate, Mr. Dowell was responsible for sourcing and underwriting investments, as well as structuring joint venture equity and preferred equity partnerships across all property types. Additionally, he helped establish GE Real Estate's Green investment program. Mr. Dowell holds a B.A. from Emory University, an M.A. in Quantitative Data Analysis (QMSS) from Columbia University and an M.B.A. from Columbia Business School.



Scott Schonfeld
Vice President

Mr. Schonfeld, who is based in Los Angeles, joined The Praedium Group in 2003 and is responsible for acquisitions in the western United States. Mr. Schonfeld was previously responsible for analysis, due diligence and transaction execution functions for the acquisition of new assets, as well as for the management and disposition of existing assets. Prior to joining The Praedium Group, Mr. Schonfeld worked for Pinnacle Communities, a real estate development and investment company, where he provided due diligence support and was involved in the construction of the company's residential developments. Mr. Schonfeld received a B.A. in Economics from Columbia University.



Asim Hamid
Associate

Mr. Hamid joined The Praedium Group in 2005 and is responsible for analysis, due diligence and transaction execution functions for the acquisition of new assets, as well as for the management and disposition of existing assets. Prior to joining The Praedium Group, Mr. Hamid worked at Affirmative Equities Company, where he was involved in the underwriting and analysis of multifamily acquisitions primarily in the southeastern United States and metropolitan New York City. Mr. Hamid received a B.S. in Finance and Accounting from the Stern School of Business at New York University.



Adam Sterling
Associate

Mr. Sterling joined The Praedium Group in 2006 and is responsible for analysis, due diligence and transaction execution functions for the acquisition of new assets, as well as for the management and disposition of existing assets. Prior to joining The Praedium Group, Mr. Sterling was an Analyst in the Real Estate Finance and Securitization Group of CSFB, where he assisted with the preparation of commercial mortgaged-backed securities (CMBS) offerings involving the securitization of fixed and floating-rate commercial mortgages totaling nearly $7 billion. Mr. Sterling received a B.S. in Applied Economics and Management from Cornell University.



Asset Management

Jeffrey Hertz
Director

Mr. Hertz joined The Praedium Group in 2002 and is responsible for oversight of dispositions and asset management of portfolio assets. Prior to joining The Praedium Group, Mr. Hertz worked as a Senior Asset Manager for DRA Advisors, Inc. overseeing a value-added portfolio throughout the United States. Previously, Mr. Hertz served as a General Manager at LaSalle Partners overseeing numerous office properties in New York City and worked for The Stout & Teague Companies in Washington, D.C. Mr. Hertz holds a B.S. in Finance from Villanova University and an M.B.A. from the European University of Management in Paris, France.



Marc Franco
Associate

Mr. Franco joined The Praedium Group in 2006 and is responsible for asset management and disposition of portfolio assets. Prior to joining The Praedium Group, Mr. Franco was Director of Financial Services for GVA Williams of New Jersey and served as Asset Manager for Reckson Associates' New Jersey Portfolio. Mr. Franco received a B.S. in Management from the University at Buffalo - The State University of New York and an M.B.A. in Finance from Hofstra University.



Cynthia Kingston
Associate

Ms. Kingston is responsible for performance monitoring, risk management and compliance of portfolio assets. Prior to joining The Praedium Group in 1999, Ms. Kingston was an Assistant Branch Manager at Northern Bank & Trust, where she was responsible for daily operations and handled mortgage, commercial and industrial lending. Ms. Kingston received a B.A. in English and General Literature from the University at Binghamton - The State University of New York. She is currently pursuing a J.D. from Fordham University School of Law.



David Krantz
Associate

Mr. Krantz joined The Praedium Group in 2005 and is responsible for asset management and disposition of The Praedium Group's portfolio of multifamily assets in New York City. Prior to joining The Praedium Group, Mr. Krantz was an Account Manager and Senior Credit Analyst in the Commercial Real Estate Lending Department of Commerce Bank, where he was responsible for portfolio management and underwriting real estate transactions in New York City. Mr. Krantz received a B.A. in Political Science from the University of Michigan.

Finance

Frank Patafio
Principal and Chief Financial Officer

Mr. Patafio is responsible for The Praedium Group's financial reporting and controls, oversees the Company's treasury functions, and coordinates and maintains many of The Praedium Group's real estate lending relationships. He has broad experience in negotiating and structuring financing and joint venture agreements. In addition, Mr. Patafio's professional background includes extensive real estate experience in rent regulated multifamily markets. Prior to joining CSFB, where he was a Director, and his association with The Praedium Group in 1993, Mr. Patafio was a Senior Manager at Kenneth Leventhal & Company where he was responsible for managing real estate audit and tax engagements as well as real estate workout, initial public offerings, securitization and valuation assignments. Mr. Patafio is a CPA and received a B.S. in Accounting from St. John's University and an M.B.A. (with distinction) from Pace University.



Ronald Strobl
Director & Treasurer

Mr. Strobl is responsible for coordinating and managing The Praedium Group's financial reporting systems and controls, reporting packages and financing activities. In this capacity, Mr. Strobl oversees investor reporting and assists in budgeting for The Praedium Group. Mr. Strobl also arranges financing for assets acquired by the Company. Prior to joining CSFB, where he was a Vice President, and his association with The Praedium Group in 1994, he was a Corporate Controller at Carol Management Corporation and a Manager at Kenneth Leventhal & Company where he was responsible for managing real estate audit and tax engagements. Mr. Strobl is a CPA and holds a B.S. in Accounting from St. John's University.



Victoria Abramov
Vice President & Controller

Ms. Abramov joined The Praedium Group in 2004. As Vice President, she oversees and maintains financial reporting systems, controls and reporting packages. In addition, she is responsible for investor reporting and assisting in budgeting. Prior to joining The Praedium Group, she was a Senior Tax Manager at American Express Tax and Business Services, where she managed various tax engagements. Ms. Abramov is a CPA and holds a B.S. in Accounting from Brooklyn College of the City University of New York.



Legal

Laura Schaffer
Director & General Counsel

Ms. Schaffer is responsible for supervising The Praedium Group's legal functions, including hiring and monitoring outside legal counsel and ensuring compliance with SEC and ERISA regulations and transaction-related legal requirements. Prior to joining The Praedium Group in 1999, she spent eight years in the Real Estate Department at Dewey Ballantine LLP in New York, where she represented pension funds, real estate private equity funds and other investors in a broad range of acquisition, disposition and financing transactions, as well as in private placements of real estate equity securities. Ms. Schaffer earned her B.A. in Psychology (with honors) from the University of North Carolina at Chapel Hill and received her J.D. from New York University School of Law.



Client Development and Investor Relations

Michelle Wells
Vice President

Ms. Wells joined The Praedium Group in 2006 and is responsible for client development. Prior to joining The Praedium Group, Ms. Wells was most recently a vice president at AIG Global Real Estate where she managed the client service and marketing group. Prior to joining AIG, Ms. Wells was with AMB Property Corporation and was responsible for the company's investor relations efforts. Ms. Wells received a B.A. in English Literature from the University of California, San Diego and a Masters degree in Education from the University of California, Santa Barbara.



Lynn Glantz
Assistant Vice President

Ms. Glantz joined The Praedium Group in 2004 and is responsible for investor and external communications, as well as marketing and public relations. Prior to joining The Praedium Group, Ms. Glantz was an Associate Director at UBS Global Asset Management where she was responsible for servicing institutional accounts representing approximately $1 billion in assets. Ms. Glantz received a B.A. in Organizational Management from the University of Michigan.



Elizabeth Culvahouse
Analyst

Ms. Culvahouse joined The Praedium Group in 2007 and is responsible for providing support to the client development and investor relations team. Ms. Culvahouse received a B.A. in Government from Dartmouth College.



Analysts

Brian Abers
Analyst

Mr. Abers joined The Praedium Group in 2007 and is responsible for providing analytical support to the acquisitions, asset management and disposition teams. Mr. Abers received a B.A. in Political Science from Colgate University.



Jonathan Cohen
Analyst

Mr. Cohen joined The Praedium Group in 2007 and is responsible for providing analytical support to the acquisitions, asset management and disposition teams. Mr. Cohen received a B.A. in Economics and Political Science from the University of Michigan.



Meghan Guinee
Analyst

Ms. Guinee joined The Praedium Group in 2007 and is responsible for providing analytical support to the acquisitions, asset management and disposition teams. Ms. Guinee received a B.S. in Economics and Art History from Williams College.



Paul Huelskamp
Analyst

Mr. Huelskamp joined The Praedium Group in 2007 and is responsible for providing analytical support to the acquisitions, asset management and disposition teams. Mr. Huelskamp received a B.A. in Economics from Dartmouth College.



Andrew Jacobson
Analyst

Mr. Jacobson joined The Praedium Group in 2007 and is responsible for providing analytical support to the acquisitions, asset management and disposition teams. Mr. Jacobson received a B.B.A., with concentrations in Finance and Organization & Management, from the Goizueta Business School of Emory University.



Anthony Marconi
Analyst

Mr. Marconi, who is based in Los Angeles, joined The Praedium Group in 2008 and is responsible for providing analytical support to the acquisitions, asset management and disposition teams. Prior to joining the Praedium Group, Mr. Marconi was an analyst in the Commercial Real Estate Finance group at Countrywide Financial, where he assisted in the underwriting of commercial loans for multifamily, office and retail properties. Mr. Marconi received a B.A. in Economics from Brown University.

Administrative

Jackie Brebnor

Ms. Brebnor joined The Praedium Group in 1994 and serves as the Company's office manager. Prior to joining The Praedium Group, Ms. Brebnor worked at Credit Suisse. Ms. Brebnor received a B.S. in Textiles Science from Hampton University.



Darren Paquette

Mr. Paquette joined The Praedium Group in 2007 and is responsible for providing support to the Finance and Investor Communication teams. Prior to joining The Praedium Group, Mr. Paquette worked at Credit Suisse Asset Management.



Virginia Rodriguez

Ms. Rodriguez joined The Praedium Group in 2003 and is responsible for providing administrative support to the Company. Prior to joining The Praedium Group, Ms. Rodriguez worked at Morgan Stanley Dean Witter as an Administrative Assistant in the Investment Banking Division.