Helping make REOC Partnerships Run Better · Institutional Investing In Infrastructure (i3) Real Assets Adviser Editorial Advisory Boards ... • Artemis Real Estate Partners LLC

people data insights

Helping make REOC Partnerships

Run Better

Founding Strategic Sponsor


Who is Institutional Real Estate, Inc.?3-7

What is the Institute for Real Estate Operating Companies (iREOC)?8-17

Why accept our invitation to become an exclusive member of iREOC?18-27

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About Institutional Real Estate, Inc. (IREI)

• Founded in 1987, IREI is a global media firm dedicated to producing investor-focused publications, events, data, and insights on the institutional real estate and real asset marketplaces – pension plans, foundations & endowments, sovereign wealth funds, insurance companies and family offices – and the consultants and investment managers who serve them

• Unique platform designed to ü Help institutional investors make informed investment decisionsü Help their investment managers and other service providers understand how investors think to

create products that are aligned with their interests and investment strategies

• Our global audience collectively controls roughly 70% of the more than $60 trillion in capital held by institutional investors worldwide, and roughly 90% of the more than $4.5 trillion in real estate assets currently held by these institutions

• Institutional Real Estate, Inc. created, sponsors and manages the Institute for Real Estate Operating Companies (iREOC)

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Our Business

Institutional Real Estate, Inc. is in the businessof connecting the most important people

in the institutional real assets investment communitywith news, data, information, perspectives, insights

– and most importantly, each other

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Broad Global Business Platform

Publications

Institutional Real EstateAmericas

Institutional Real EstateEurope

Institutional Real EstateAsia Pacific

Institutional InvestingIn Infrastructure (i3)

Real AssetsAdviser

Editorial Advisory Boardscomprised of investors and publication sponsors

Sponsors Underwrite Publicationsqualified investors receive complimentary subscriptions

Online News, Publication & Database Portals, Videos & Podcasts

Institute for Real Estate Operating Companies

Web-Based Services Databases

FundTracker PartnerTracker

Sponsorships & Memberships

EventOfferings

Publication Sponsorships

SubscriptionOfferings

AdvertisingOfferings

VIP Americas Conference

VIP Europe Conference

i3 Conference

Springboard

CEO Summit

Publications

Free News Alert Services

Premium News Service

PartnerTracker

FundTracker

Advertorial Profiles/Interviews

Publication Ads

Website Ads

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Investor-Focused Publications are the Foundation of IREI• One of the most trusted, most relied-upon sources for news and information on the

institutionalization and globalization of real estate and real asset investing

• Independent investor-led Editorial Advisory Boards establish editorial direction

• Unique Publication Sponsorship programs help underwriteü Our controlled circulation and complimentary subscriptions for qualified investorsü Our editorial independence, quality and integrityü Our Editorial Advisory Board Meetings for these publications

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Representative Members of our Editorial Advisory Boards

Investors and Investment Consultants• California PERS• California STRS• Cambridge Associates• Canada Pension Plan Investment Board• Colorado PERA• Harvard Management Company• Los Angeles County ERA• New Mexico Educational Retirement Board• New York City Retirement Systems• Oregon State Treasury• Rice Management Company• State of Wisconsin Investment Board• The Townsend Group• The World Bank Pension Fund• TRS of Texas• University of California Regents• University of Chicago Endowment• UPS Group Trust• Utah Retirement System

Publication Sponsors• AEW• Ares Management• Artemis Real Estate Partners LLC• BentallGreenOak• Broadshore Capital Partners• CBRE Global Investors• Crow Holdings Capital Partners• DWS• Heitman• Invesco Real Estate• J.P. Morgan Asset Management• LaSalle Investment Management• Lionstone Investments• Nuveen Real Estate• PGIM Real Estate• Principal Real Estate Investors• USAA Real Estate Co.• Walton Street Capital

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people data insights 8

What is the Institute for Real Estate Operating Companies (iREOC)?


Taxable Institutional & HNWInvestors

Tax-Exempt InstitutionalInvestors

Investment ManagersREOC Partnership Strategies

Separate Accts Funds

REOC Partnership Investment Vehicles

Programmatic JVs REOC Funds

Investor Capital Flows to theREOC Partnership Investment Market

Entity Ownership

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Specified Deals JVs

Real Estate Operating Companies


Premise for Creating iREOC

• Real estate operating company (REOC) partnerships serve as the bedrock for value-creation strategies of institutional investors and their investment managers offeringü Property type and local market focus, expertise and access to deal flowü Specialized production and operation capabilities to execute value-creation strategies

• Sourcing, underwriting, forming and managing multiple REOC partnerships through multiple investment managers or directly with multiple REOCs, each with different systems for REOC partnership capital raising and investor reporting for can beü A drain on the investor’s limited staff resourcesü Time-consuming and duplicativeü Inefficient and expensive

• It can be difficult for investor capital providers to get REOC partners toü Fully understand the investor’s investment needs and decision-making processü Respond promptly and appropriately to the investor’s information and data requestsü Comply with the investor’s unique reporting requirementsü Adopt the investor’s mandated processes and procedures

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About the Institute for Real Estate Operating Companies (iREOC)

• Created in 2017, iREOC is dedicated to connecting, engaging and empowering institutional investors, investment managers and real estate operating companies (REOCs) to form and run more profitable and productive REOC partnerships

• As part of the IREI platform, iREOC possesses unmatched capabilities to bring together leading professionals from across the global institutional real estate investment community to focus on helping make REOC partnerships run better

InstitutionalInvestors

REOCPartnerships

InvestmentManagers

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iREOC is an Exclusive Membership Organization

• Invitation-only membership is designed to maintain a high ratio of investor capital providers to real estate operating companies seeking institutional investor partnersü Creates a more comfortable, collaborative atmosphere for investor engagementü Consistent with IREI’s highly regarded Editorial Advisory Board meetings and events

• 2:1 Ratio Policy for Executive Membershipsü iREOC upholds a strict policy of only two (2) REOCs to every one (1) investor capital provider

• Initial Target of 150 Executive Membersü 25 qualified institutional investors – complimentary membership ü 25 investment managersü 100 real estate operating companies

• Initial Target of 50 Associate Membersü Select other service providers in the institutional real estate industry

• Governed by an appointed Board of Governors representing the Executive Membership

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Executive Membership Ratio of Investor Capital Providersto REOCs is Currently Higher than Policy

2518

30

1225 25

100

50

0

20

40

60

80

100

120

Investors Investment Managers REOCs Associate Members

Current Membership vs Initial Membership Targets

Current Initial Target

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iREOC’s Founding Board of Governors

Investor Advisory Council

• CalPERS• CalSTRS• Colorado PREA• Jasper Ridge Partners• New Mexico Educational

Retirement Board• Oregon State Treasury• Rice Management Co.• The Townsend Group• University of CA Regents• UPS Group Trust• Utah Retirement System

Investment Manager Council

• Almanac Realty Investors• Belay Investment Group• BentallGreenOak• Crow Holdings Capital Partners• Forum Partners• Invesco Real Estate• LaSalle Investment

Management• Lionstone Investments• USAA Real Estate Co.• Westport Capital Partners LLC

Real Estate Operator Council

• EMMES Realty Advisors, LLC• First Washington Realty, Inc.• Grosvenor Americas • IDS Real Estate Group• Lincoln Advisors• Mosser Capital Management • RedHill Realty Investors• Skyline Pacific Properties• University Communities • Western National Group • Westport Properties | US

Storage Centers

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Role of iREOC’s Board of Governors

• Activities

ü Advocate iREOC’s mission and goals to the industry

ü Provide input on iREOC’s strategic directionü Provide input on iREOC’s member benefit

programs and projectsü Participate in iREOC’s Annual Meetingü Participate in the development, adoption

and promotion of the iREOC Information and Data Guidelines

ü Participate in iREOC’s Yammer Network and telephone communications as needed

ü Recommend new iREOC member recruits

Provides leadership and operational guidance to advance the iREOC’s mission and goals

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iREOC’s Mission

Accelerate the development and adoption of workflow best practicesfor REOC partnership capital raising and investor reporting

that enableinstitutional investors, investment managers and real estate operating companies

to maximize returns, lower costs and reduce risk

InstitutionalInvestors

REOCPartnerships

InvestmentManagers

WOR

KFLO

W B

EST

PRAC

TICE

S

WORKFLOW BEST PRACTICES

WORKFLOW

BEST PRACTICES

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Goals to Achieve iREOC’s Mission

• Provide an intimate, investor-focused open forum designed to help institutional investors, investment managers and real estate operating companies connect and build relationships

• Promote and deliver education to help REOCs understand the language, culture and requirements that need to be addressed to effectively access and serve investor partners

• Provide thought leadership on workflow best practices in capital raising and investor reporting for REOC partnerships

• Provide a single venue for developing and adopting the iREOC Information and Data Guidelines for REOC partnership capital raising and investor reporting

Mission

Goals

Programs & Projects

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Why accept our invitation to become an exclusive member of iREOC?

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Summary of Annual Membership Benefits Package• Enjoy an information edge through the IREI Market Intelligence Service

ü Three subscriptions to Institutional Real Estate Americas, IREI’s flagship monthly publicationü Unlimited electronic subscriptions to IREI’s premium newswire, Institutional Real Estate Newsline (“Newsline”)ü One copy of IREI’s Annual Institutional Investors Real Estate Trends survey report ü One subscription to the IREI FundTracker database (Executive Members only)ü Contributing to the development of the iREOC PartnerTracker database

• Recognition as an exclusive member of iREOC in tombstone advertising exposures in IRE Americas, Europe and Asia Pacific monthly publications

• Member Profile or Interviewü Two-page piece that will be electronically distributed to IREI’s audience and posted on the iREOC website

• Build stronger relationships and gain a knowledge advantage by participating inü iREOC Annual Membership Meeting May 12-14, 2020 | Fairmont Grand Del Mar | San Diego, CAü iREOC’s Yammer Network members-only communications tool – unlimited users for member organizations

• Leadership recognition in the institutional investor community and leverage staff resources by helping in the development, adoption and promotion of the iREOC Information and Data Guidelines for REOC partnership capital raising and investor reporting

• Priority registration at a 10% fee discount to attend Visions, Insights & Perspectives (VIP) Americasü January 28-30, 2020 | The Ritz-Carlton, Laguna Niguel | Dana Point, CA

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IREI Market Intelligence Service • Institutional Real Estate Americas is a monthly publication for institutional investors in real

estate and the consultants and real estate investment managers who serve them. The publication provides information about the people, events and trends driving institutional real estate investment.

• IREI’s Daily Premium Newsline with top news stories from around the global on the people, fundraising and investment activity in the institutional real estate community.

• Annual Institutional Investors Real Estate Trends survey report that IREI and Kingsley Associates have conducted for more than 21 years.

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IREI FundTracker Database

• More than 4,500 global real estate funds with over 1,100 of them actively seeking to raise a combined total of over $400 billion, and the data source for IREI’s Investment Manager and Fund Investment Guides

• Powerful, extensive database loaded with data and information on investors, funds, investment managers and placement agents

• Provides investment managers, REOCs and placement agents with 365/24/7 online access to information to help strategically position their offerings

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iREOC PartnerTracker Database Project

• A subset of the IREI FundTracker, iREOC PartnerTracker database project is to build and maintain an extensive database of information on REOCs worldwide

• Designed to help investors and investment managers identify and evaluate REOCsthat can offer REOC partnership opportunities that meet their specific investment criteria

• Data source for iREOC PartnerTracker Investment Guides that will be distributed globally to IREI’s more than 4,000 investor, consultant and investment manager subscribers

REOC Questionnaires iREOC PartnerTracker Database Newsline Investment Guides

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iREOC Exclusive Member Tombstone Advertising Exposures in IRE Americas, Europe and Asia Pacific Publications

InstituteFor

Real EstateOperating Companies

A division of Institutional Real Estate, Inc.

EXECUTIVE MEMBERSINVESTORSAlaska Electrical Pension Fund BLG Capital Advisors California Institute of TechnologyCalifornia Public Employees’ Retirement System California State Teachers’ Retirement System The Collegiate Church Corporation Colorado Public Employees’ Retirement Association Harvard Management Company Jasper Ridge PartnersMakena Capital Management, LLCMoDOT & Patrol Retirement System New Mexico Educational Retirement Board Oregon State Treasury Rice Management Company Teacher Retirement System of Texas The Townsend GroupUniversity of California Regents UPS Group Trust Utah Retirement SystemWillett Advisors LLC

INVESTMENT MANAGERS Alcion Ventures Almanac Realty Investors Artemis Real Estate Partners Belay Investment Group Bentall Kennedy Crow Holdings Capital Partners Forum Partners Invesco Real EstateLaSalle Investment Management Lionstone InvestmentsLubert-Adler Partners, L.P. Mesa West Capital USAA Real Estate Co.Walton Street CapitalWestport Capital Partners LLC

REAL ESTATE OPERATING COMPANIES Berkeley Partners Bixby Land Co.bkm Capital PartnersCarson Companies CA Ventures Christina Development CorporationContraVest Development Partners Cruzan The Davis CompaniesEmmes Realty Advisors, LLCEverest Healthcare Properties, LLC

First Washington Realty, Inc. Gerrity GroupGreen Mesa Capital, LLC Grosvenor Americas Hart Realty Advisers, Inc.IDS Real Estate Group Lincoln Advisory GroupLloyd Jones CapitalMosser Capital Management Newport Capital PartnersRedBridge Capital Redcar Properties Ltd.RedHill Realty InvestorsShopOne Centers REIT, Inc.Skyline Pacifi c Properties TGM Associates University Communities UpEquityWestern National Group Westport Properties | US Storage Centers

ASSOCIATE MEMBERSAccord Group Holdings LLCBlueprint EquityJLLJuniper SquareKAP Group, LLCNational Council of Real Estate Investment Fiduciaries (NCREIF)Park Hill Real Estate Group, LLC

The Institute for Real Estate Operating Companies (iREOC) is an exclusive membership organization and division of Institutional Real Estate, Inc. (IREI). We are proud to recognize the iREOC’s exclusive members.

FOR MEMBERSHIP INFORMATION, CONTACT:

David “Mac” McWhorterExecutive DirectorEmail: [email protected]: +1 970-300-8024 • www.ireoc.com

FOUNDING STRATEGIC SPONSOR

• One of the most trusted, most relied-upon sources for news and information in the global institutional real estate investment community

• Monthly publications for institutional investors in real estate — pension plans, foundations, endowments and family offices — and the consultants and real estate investment managers who serve them.

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2020 iREOC Annual Membership Meeting

Mitch PleisInvestment Officer, CalSTRS“The iREOC inaugural annual meeting was a great event for institutional investors who are engaged in directly investing in REOC partnerships or indirectly through their investment managers. It provided an open venue for leaders from across the industry to connect and candidly exchanges ideas.”

Anthony FrammartinoPrincipal, The Townsend Group ”The iREOC forum provided an open environment for idea exchange and the opportunity to meet with compelling operating partners.”

Michael LevyCEO, Crow Holdings“Data, analytics and information management are increasingly critical business considerations throughout our industry. iREOC is providing an opportunity for institutional investors, their investment managers and operating partners to engage in meaningful discussions around systems and technology implementation. This will be core to our future success together.”

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iREOC Information and Data Guidelines Project

• Founding iREOC Strategic Sponsor, RealFoundations, serves as project leader

• iREOC Information and Data Guidelines project is to produce a consensus document that defines a common approach to fulfilling a typical investor’s information and data requirements for REOC partnership capital raising and investor reportingü Standardized Information and Data Exchangeü Common Business Practicesü Transparency and Collaboration

• These three primary guidelines form the essence of an effective REOC partnership, and are intended as a baseline of recommended workflow best practices in capital raising and investor reporting to maximize performance for all stakeholders

Propose Review and Prioritize

Approve and Adopt

Developing iREOC Information & Data Reporting Guidelines

Ease of adoption into existing workflows

Individual OrganizationsAll Members Executive Members Board of Governors

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iREOC’s Yammer (members-only) Network

Helps deliver on iREOC goals:ü Provide an intimate, investor-focused open forumü Promote and deliver education materialsü Thought leadership in workflow best practicesü Single venue for developing and adopting the

iREOC Information and Data Guidelines

And does so while …ü Increasing transparencyü Facilitating more collaborationü Facilitating in-person connectionsü Providing on-the-go accessü Protecting your email inbox!

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Annual Membership Benefits and Dues

Benefits Executive Member

Equivalent Value(non-member)

Associate Member

Equivalent Value(non-member)

IREI MARKET INTELLIGENCE SERVICE One $10,310 One (FundTrackerexcluded) $7,315

EXCLUSIVE MEMBER TOMBSTONE ADVERTISING EXPOSURES IN IREAMERICAS, EUROPE AND ASIA PACIFIC

Monthly (11) $5,500 Monthly (11) $5,500

iREOC ANNUAL MEMBERSHIP MEETING• MAY 12-14, 2020• FAIRMONT GRAND DEL MAR• SAN DIEGO, CA

One paid registration(option to register

additional attendees at discounted rate)

$4,895

One paid registration(option to register

additional attendees at discounted rate)

$4,895

PRIORITY REGISTRATION AT A DISCOUNT TO ATTEND VIP AMERICAS• JANUARY 28-30, 2020• THE RITZ-CARLTON, LAGUNA NIGUEL• DANA POINT, CA

10% discount off $4,895 registration

fee$490

10% discount off$4,895 registration

fee$490

TOTAL EQUIVALENT VALUE OF BENEFITS $21,195 $18,200

ANNUAL MEMBERSHIP DUES(NON-PUBLICATION SPONSORS) Included $14,000 Included $9,800

ANNUAL MEMBERSHIP DUES (PUBLICATION SPONSORS) Included $11,900 Included $8,160

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GET NOTICED

GET YOUR MESSAGE ACROSS

GET CONNECTED

HEADQUARTERS2010 Crow Canyon Place, Suite 455 San Ramon, California 94583 U.S.A.telephone +1 925-244-0500fax +1 925-244-0520

NEW YORK300 Park Avenue, 12th Floor New York, New York 10022 U.S.A. telephone +1 917-854-2345

ASPEN747 S. Galena St. Aspen, Colorado 81611 U.S.A.telephone +1 970-300-8024

EUROPENew Broad Street House35 New Broad StreetLondon, EC2M 1NHtelephone: +44 (0) 207 194 8180fax: +44 (0) 207 194 8181

SINGAPORELevel 20, One Raffles Place Tower 21 Raffles PlaceSingapore 048616+011 65 90481301

FOR MORE INFORMATION, CONTACT:David “Mac” McWhorterExecutive Director, [email protected] or [email protected]

www.irei.comwww.ireoc.com

Documents

Helping make REOC Partnerships Run Better · Institutional Investing In Infrastructure (i3) Real Assets Adviser Editorial Advisory Boards ... • Artemis Real Estate Partners LLC