Chief Executive Officer

Christian Delaire is Chief Executive Officer at AEW Europe and oversees the management of over €17 billion in real estate.

Christian, a French national, brings a wealth of real estate investment management experience. He joins AEW Europe after 15 years with AXA Real Estate Investment Managers, headquartered in Paris, where he most recently served as the Global Head of Fund Management. He was responsible for the oversight and management of €42 billion in assets, and led a pan-European team of 80 professionals. As a member of the firm's executive committee and investment committee, Christian was involved in the overall strategic direction and growth of the company. He joined AXA REIM France in 1994, and rapidly progressed through the organisation from an analyst to positions of increased responsibility, including head of corporate finance, head of arbitrage and head of fund management. He began his career as an auditor with KPMG and holds a graduate degree from ESSEC Business School in Paris.

Chairman

Jeffrey Furber is Chairman of AEW Europe and Chief Executive Officer of AEW Capital Management. Jeff has oversight responsibility for all of AEW's operating business units in the United States, Europe and Asia. He also chairs the firm's various Management Committees which are responsible for AEW's strategic direction and for managing the Group's resources. He is a member of the firm's Investment Committees and Investment Policy Group. Jeff joined AEW in 1997 from Winthrop Financial Associates, a wholly owned subsidiary of Apollo Advisors, where he served as Managing Director of Winthrop and as President of Winthrop Management. In these capacities, he was responsible for acquisitions, asset management and capital markets activity, including the sourcing of equity and mezzanine debt investments. Jeff is a graduate of Dartmouth College and Harvard Business School.

Manager, Bucharest office

Mihaela Allardin is in charge of the AEW Central Europe Romanian subsidiary.

She graduated with a bachelor's degree in Management and holds a masters in Human Resources Management. Before joining AEW Europe, Mihaela worked at DTZ Echinox from October 2007 as Head of the Property Management Department. Previously, she held various positions in the real estate sector for ten years.

Managing Director

Andrea Amadesi is the Managing Director of AEW Europe's office in Italy and is the founder and partner of AEW's real estate management and investment activities in Italy. The company was founded to help facilitate the privatisation of real estate investments and operations of public pension funds, the federal government and various municipalities. In addition, the company has assisted various financial institutions in the restructuring of their real estate portfolios. It also operates as global advisor to the Banca Nazionale del Lavoro real estate fund management company for its funds.

Prior to joining AEW, Andrea worked in investment banking in Paris and Milan, holding a variety of management positions and specialising in asset management and real estate financing. He was responsible for over $600 million in real estate investments. From 1989 to 1992, Andrea was employed by Sotheby's as Managing Director of Italian operations. He was also the founder of the Milan Modern and Contemporary Art fair. He holds a university degree in Economics and Commerce from the Bocconi University of Milan.

General Counsel - Europe

Coralie Auguet is the General Counsel Europe of AEW Europe. Admitted at the Paris Bar in 1989, she worked as lawyer at the law firm Stibbe Simont Monahan Duhot.

Coralie joined the AXA Group in 1995 and held various positions of General Counsel at AXA Real Estate Investment Managers, AXA RE and AXA Corporate Solutions Assurance. Coralie is a graduate of the business school "Ecole des Hautes Etudes Commerciales" (HEC).

Executive Director, Head of Fund Operations

Yves Barthels is Executive Director, Head of Fund Operations. In this capacity he oversees the Luxembourg activities of the AEW Europe managed funds and coordinates the corporate management of the European legal entities in the fund structures.

Prior to joining AEW Europe in 2005, Yves headed up the Luxembourg office and ran the legal entities structure in Europe of a large American multinational manufacturing company listed on the NY Stock Exchange. He holds a Masters in Business Administration (MBA) in finance from Ecole des Hautes Etudes Commerciales (HEC) in Montreal, Canada. He resides in Luxembourg.

Director, Separate Accounts

Serge Bataillie has been involved in AEW Europe's development since 1999 when he established the first separate accounts and supported the Group's external growth during the acquisitions of A3C, AEW Italia and Curzon in London. Recently, Serge maintained the Luxembourg part of the AEW Europe Group. Since 1988, Serge has had various roles, particularly in the real estate promotions sector. He was also responsible for the management of the real estate arm of the Caisse des Dépôts.

Serge joined AEW Europe in the Paris office in 2008 managing separate account clients. Jointly with other departments, he structures and realises the real estate strategy. Serge has a degree from the Ecole Supérieure de Commerce in Amiens, France.

Director, Asset Management

Jean-Philippe Blangy is Director of Asset Management at AEW Europe.

He is responsible for managing AEW Europe's European funds as well as external funds. In this capacity, he oversees the creation of business plans, selection of local operating partners, commercialisation strategies including hold/sell strategies. Jean-Philippe is also in charge of overseeing the construction and commercialisation of a portfolio of logistic and office assets in France. As Director of Asset Management, he is closely involved with the investment process.

Before joining AEW Europe, he was in charge of managing circa €500 million portfolio (office, logistics and retail) for CPMS (Groupe CBRE) across France for various European investors. Jean-Philippe began his career in house within the real estate department at Groupe AGF (Allianz Group) as a lawyer. Jean-Philippe studied European business at Université Paris II and has post-graduate degrees in construction law, urbanism and environment.

Managing Director

Stephan Boenning is Managing Director of AEW Deutschland (Düsseldorf). Here he is responsible for the acquisition of real estate single assets and portfolios. Stephan has been working in the real estate business for almost 15 years and prior to this role in AEW Europe he held various senior level positions. He was Managing Director of AXA Investment Managers and Aachener Grundvermögen, both A German Kapitalanlagegesellschaft, where he was in charge of real estate investments and fund managing.

Before that he worked for WestInvest, a company of DEKA Investments as leader of the investment departement. In this role, he was originated new investments of around €3.5 billion. Stephan is a graduate of the Fachhochschule Nuertingen.

Senior Investment Manager

Pascale Bonnet is a Senior Investment Manager at AEW Europe (amount of acquisitions: €1.5 billion). She has 20 years of professional experience including 15 years in the French real estate market.

Prior to joining AEW Europe in 1999, she began her career (1984-1989) in an investment bank (ex Credit National -Natexis Group) in the department of research as analyst. Then, she was (1989-1996) in the Zeus Company - developer of the Bercy Business District as Director of Marketing. After, she was involved (1997-1998) in portfolio acquisitions with the PARIBAS Real Estate team.

Pascale is a graduate of Institut d'Etudes Politiques de Paris and of University of Sorbonne (Master of Econometrics and Finance).

Director, International Investments

Ludovic Charpentier joined AEW Europe in early 2008. Based in Paris, he is in charge of international investments.

Ludovic was previously head of the Bank of Scotland’s real estate activities in Paris. He started his career in 1992 with Banque Indosuez, where he held several positions including that of team leader in the general audit department, with assignments across Europe, the Middle-East and Asia. He was thereafter in charge of the property structured finance activities within Credit Agricole Indosuez (now Calyon) until 2003. He holds an engineering degree from the French grande ecole Supelec and a masters in economics from Paris-Dauphine University.

Group Secretary

Mireille Chetioui is AEW Europe's Chief Financial Officer. She is responsible for accounting, treasury, tax planning, information systems, business planning and management reporting. Mireille is also in charge of regulatory compliance. She is the co-ordinator of the debt and capital markets transactions required to finance the acquisitions managed by AEW Europe.

Mireille spent most of her carrier with Caisse des depots. Prior to joining AEW Europe, Mireille was the CFO of IXIS ASSET MANAGEMENT in PARIS where she contributed significantly in their international growth. Before, she was the CFO of TRANSDEV, a pan-European public transportation group owned by CdC.

She graduated from ESCP business school in Paris and she is a member of the French Auditors Association and a chartered surveyor in France.

Head of Asset Management and Directeur Général Adjoint

Eric Donnet is Head of Asset Management at AEW Europe. In this capacity, he manages a team of 40 professionals and is in charge of €6 billion of assets under management.

Prior to joining AEW Europe, Eric was a Director at Bail Investissement, one of the major French real estate listed companies, managing €1.6 billion of assets. He was also Managing Director of Addvim (asset management) and Deltis (property management), two subsidiaries of General Electric Real Estate. Within this role, he managed a team of 60 dedicated professionals based in Paris.

Before joining GE, Eric was the Head of Strategy within Valeo Distribution branch, the leading automotive components supplier where he developed a logistics platform network and formerly International Development and Acquisitions Manager for Lyreco, one of the leading contract stationers worldwide with a presence in Asia, Australia, Canada and Europe. He has more than 12 years' experience in industry, distribution and real estate businesses.

He holds the title of French Certified Public Accountant and is a graduate of the ICN business school and has a masters degree from the University of Nancy (France).

Managing Director

Emmanuel Gluntz has been the Managing Director of PBW Czech Republic, s.r.o. since 2008. Emmanuel has more than 14 years of experience in Central Europe working at various managerial positions.

From 1990 to 1993, he worked for Bouygues Immobilier in Paris as a manager of residential projects. In 1994, Emmanuel moved to Prague to join the Orco Property Group as Director of Operations for Retail. In 1996, he set up the company Mark&Field s.r.o., specialising in marketing consultancy for manufacturers of FMCG and retail chains. In 1997, his company merged up with the French Sogec Marketing Group and Emmanuel became the Regional Managing Director of Sogec in charge of Central Europe. After Prague, he successfully opened offices in Warsaw, Bratislava and Budapest, and has hired and managed a team of 45 people across the region. Emmanuel holds a degree in Business Administration from Ecole Superieure de Commerce of Lille, France. He speaks French, English, Czech and German.

Asset Manager Senior Officer

François Grandvoinnet is responsible for the asset management of the office and residential properties at AEW Europe and manages €4.4 billion of investments.

Before joining AEW Europe, he worked for Axa REIM where he was responsible for a €1 billion portfolio of offices and shopping centres comprising mainly heavily refurbished or under development properties. Previously, François managed the German office of CBRE Investors aimed at developing the opportunistic investments in offices and housing for pan-European funds or club deals. For six years, François was in charge of asset management for the Archon Group, managing up to 20 people and €900 million of properties. In this role, he was also responsible for several acquisitions in France and Italy.

François began his career in the French bank UIC-SOFAL as credit officer for commercial real estate. He also worked in the framework of the defeasance of UIC-SOFAL restructuring non-performing loans and auditing the major loan portfolios sold in 1995-1996. François holds a Masters in Business Administration(MSG) from the Dauphine University in Paris and is graduate in Accountancy( DECF).

Director, Fund Operations

Nicola Hordern is Director, Fund Operations for AEW Europe. She is responsible for all aspects of the Funds' financial administration through the management of the Fund Operations team. The team works closely with the local partners, Asset Management and Client Services in the production of fund and client reports. In addition Nicola oversees the implementation of corporate, financial and tax strategies for client Funds, including a key role in asset acquisitions and disposals.

Nicola joins from London & Regional Properties where she was Group Financial Controller and has nearly 20 years' experience in the property industry having worked for Cushman and Wakefield and Conrad Ritblat (now Colliers CRE). Nicola is a Fellow of the Association of Chartered Certified Accountants.

Director, Investments

Gereon Kohlgrueber is Director of Investments of AEW Europe in Düsseldorf. Here he is primarily responsible for identifying, negotiating, structuring and closing real estate single asset and portfolio deals. Gereon has been working in the real estate business for almost 19 years and prior to this role in AEW Europe, he worked at senior level in different companies. He was Head of Investment of the German insurance company ‘Gerling Konzern', where he was in charge of real estate investments and fund management. Before that he worked for the ‘DIL - Deutsche Immobilien Leasing', a subsidiary of Deutsche Bank group. Here, his scope of responsibility reached from the structuring to the financing of new investments. In all those positions he was able to originate investments of around €2 billion. Gereon holds a degree in Business Administration subsequently becoming a graduate of the Oestrich-Winkel European Business School (Immobilienökonom ebs). Since 1999, he has been an active member of the Royal Institution of Chartered Surveyors.

General Manager

Antoni Krzatała is the General Manager and member of the Management Board of PBW Polska.

Prior to joining PBW Polska in 1996, Antoni held various management positions - since 1981 - Director of Polish district of "Orbis" travel office in Warsaw and from 1988 - Deputy Manager of the "Holiday Inn" Hotel in Warsaw as person in charge of construction process and further operations of the hotel. Antoni holds a university degree in law from University of Warsaw.

Logistics Investment Manager

Dorothée has been Investment Manager for the logistics funds since 2007.

She joined AEW Europe in 2005 as Environment Manager and subsequently became Asset Manager for the European logistics platforms. Before this, she worked for Bail Investissement, a major listed French real estate organisation managing €1.6 billion of assets. Here, she worked in the real estate law team, asset management team and then became Environmental Manager, specialising in the logistics sector.

She holds a DESS (Diplome d'études supérieures spécialisées) in real estate construction law from Assas University.

Fund Manager

Frédéric Larroumets is Fund Manager for the logistics funds. He started as project manager for the Eiffage group and was in charge of construction projects in France and in the United States (Texas). He joined TEPIA (a property management company) and was responsible for operations and development. Afterwards he became Deputy Managing Director of BNP Paribas Property Management.

He joined Gefco in 2003 (major logistics subsidiary of PSA) as Real Estate Manager in charge of the international real estate strategy, investments and asset management. Frederic is a graduate of "Ecole Spéciale des Travaux Publics" (ESTP) and holds a Master of Sciences from the University of Birmingham and an executive MBA from ESSEC. He is member of the boards of Afilog and Chairman of the Sustainable Development committee.

Head of Funds

Jean Lavieille holds the position of Head of Funds at AEW Europe. In 1989, he joined the real estate department of Caisse des Dépôts. From 1992 to 1997 - and after having managed investments in the tourism sector - he implemented the investment policy of CDC in Central Europe, where assets up to €300 million were acquired and transferred in 2002 as seed assets to the PBW Fund. PBW Fund is managed by PBW Asset Management which controls three local subsidiaries in Prague, Budapest and Warsaw. In 1999, he created the fund Logistis I with three institutional French investors ; Logistis I invested €300 million in grade A buildings representing 700,000 sqm. In 2003-2004, Jean created both Logistis II and PREF ; Logistis II raised €220 million among French and foreign investors and has an investment capacity of €500 million in French, Spanish and Italian grade A logistics. The PREF fund is devoted to investors from the Middle East willing to invest up to €200 million in French real estate in the forthcoming years.

Further on, Jean Lavieille is responsible for FONDIS, a fund specialised in French high street and out of town retail, targeting a total investment of €230 million. Before specialising in real estate in 1989, Jean had worked on behalf of subsidiaries of CDC on town planning and regional development projects. Jean is a graduate of Institut National des Sciences Appliquées (INSA) and has completed post graduate courses at the Institut Français de Gestion (IFG), and at INSEAD.

Deputy Director of Investments

Véronique Mathé has been Deputy Director of Investments at AEW Europe since June 2005. She co-ordinates the deal closing (due diligence, committee agreement, deed of sale signature) in relation with the other services of AEW Europe.

Prior to joining AEW Europe, Véronique was involved in the creation of TMW FRANCE, an asset management company of German funds, as Managing Director. She organised and controlled €1 billion investments within three years, as well as the asset management of these assets for two funds mainly dedicated to offices and commercial properties. For two years, she also managed the services department of a private real estate group "Financière Duval" (150 people), participated in bids during the bank defeasance period with the Finestate and Roberts team for Lehman Brothers and Cargill. She began her career in a real estate development company, COPRA, where she spent eight years, first as Financial Director for the Office division, and then as Portfolio Manager. She graduated from Bordeaux Business School.

Executive Director, Asset Management

Merrick Marshall is Executive Director of Portfolio and Asset Management at AEW Europe and is responsible for the interaction between the investment and asset management teams in addition to the asset management of AEW Europe fund assets.

Prior to joining AEW Europe in 2007 Merrick was a Director and Joint Head of Shopping Centres at The British Land Company plc. He was responsible for the asset management team and for the strategic asset management and development of the shopping centre portfolio with a capital value in excess of €1.4 billion. Latterly, he completed a €20 million refurbishment of a significant shopping centre in east England and concluded investment sales of €830 million. He was instrumental in the creation and internal supervision of the €850m Scottish Retail Property Limited Partnership, a joint venture with Land Securities plc. His additional responsibilities included asset management/investment responsibility for the company's Irish property portfolio comprising two major shopping centres and other standing investments. Ultimately, he successfully oversaw the disinvestment from the Irish market and the closure of the Dublin office after having made significant returns on the original capital deployed.

From 1996 to 2001 Merrick was employed at Celexa REIM Ltd, a pan-European fund management business, as Head of Business Development and Senior Asset Manager. He managed the largest assets within the Alecta portfolio and worked on new business initiatives to attract new funds under management and the creation of new investment vehicles. Merrick is a member of the Royal Institute of Chartered Surveyors and holds an Investment Diploma from the Investment Property Forum. He graduated from Exeter University with a Combined Honours degree in History and Politics. He was previously an Advisory Board Member of the British Council of Shopping Centres.

Senior Adviser

Simon Martin serves as a Senior Adviser for Research & Strategy for AEW Europe. Simon is the CBRE Professor of Real Estate Finance at the Henley Business School, University of Reading, home to the largest teaching and research faculty in Europe for real estate and planning. He is also an Associate of the renowned economic consultancy, Lombard Street Research.

Simon was previously Managing Director of Research and Strategy for Europe. He joined AEW Europe's London office in 1999. Prior to joining AEW he headed DTZ's Fund Management and Investment Strategy Group. Prior to joining DTZ in 1996, he worked for CB Hillier Parker's investment research team and at both Cambridge University (Property Research Unit) and at Kingston University (Real Estate Faculty) in London.

Director, Investments

Peter Mather joined AEW Europe in July 2008 as a Director in Acquisitions and has 14 years experience in real estate, including investment and finance exposure across UK and pan-European markets. He is primarily responsible for identifying, negotiating, structuring, underwriting and closing investments on behalf of the Partnership, in particular for the EPISO fund. Peter has built up a wide and valuable client and agency base during his roles in investment agency and banking. His experience ranges across most investment sectors including office, industrial, retail and residential.

Prior to joining AEW Europe, Peter was a Vice President in the Global Real Estate Group at Lehman Brothers where he was responsible for assisting UK-based clients invest across the UK and into western Europe. Peter started his career at St Quintin (now part of CBRE), qualifying as a Chartered Surveyor in 1997. He holds a BSc (Hons) first class degree in Land Management from Reading University and is a member of Royal Institution of Chartered Surveyors. Peter also worked for Jones Lang Lasalle and King Sturge in between his roles at St Quintin and Lehman Brothers.

Head of Research & Strategy

Dr Mokrane is Head of Research and Strategy at AEW Europe in Paris. His responsibilities cover publications, strategic issues and real estate funds, investment process and portfolio construction including acquisitions and disposals, and new markets coverage.

Prior to joining AEW Europe, Dr. Mokrane worked for IPD in France since 2001 as Director of Research and Training. He was involved in developing portfolio analysis, research (market as well commissioned research projects) and training services in France. Prior to joining IPD, Dr. Mokrane was Associate Professor of economics and finance, University of Cergy-Pontoise, and ESSEC Business School (France) where he taught investment valuation, finance and economics. He also held a consultant position for the Caisse des Dépôts et Consignations (CDC) on securitisation issues. Dr. Mokrane continues teaching various postgraduate programmes in real estate. His research interests and refereed publications include portfolio analysis, asymmetric information and market structure, index construction and risk management for real estate investments, portfolio simulation and forecasting and valuation practices in Europe. His background is in mathematics and statistics (Dauphine University), and he holds a doctorate (equivalent of a PhD) in economics and finance from EHESS. He is a member of several professional and academic organisations : President of the French real estate research association (AREIM), co-chair of INREV's Research Committee, and member of the ICSC Europe's Research Group.

Managing Director of Central Europe

Currently Artur Mokrzycki is the Managing Director of Central Europe for AEW Europe. He is in charge of PBW I, a fully invested €600 million real estate fund and for its successor, PBW II Fund, as well as other related asset management companies in Poland, Czech Republic and Hungary.

After completing an MBA at the HEC Group in France in 1992, Artur joined Caisse des Dépôts et Consignations real estate department as a Project Manager responsible for the Central European real estate investment programme. In this capacity he was involved with the development of €240 million of real estate in over the last few years in Prague, Budapest and Warsaw. Artur graduated as a Civil Engineer in 1983 with honours from Politechnika in Krakow (Poland) and from Ecole Nationale des Ponts et Chaussées in Paris (postgraduate) in 1985 after which he joined Bouygues Group where he was responsible for various construction projects in France until 1990.

Senior Investment Manager

Jean Nicolas is a Senior Investment Manager at AEW Europe. He joined the group in 1991 and was responsible for office projects in Eastern Europe (Prague, Warsaw) and France. Since 1998, Jean has been responsible for CNP Assurances' residential investments and sales program. Along side this he is also responsible for advising clients such as Caisse d'Assurance Vieillesse, Union Mutualiste Retraite, Mutuelle d'Ivry, la Poste and Banque de France.

Prior to his role at CDC and AEW Europe, Jean was a Project Manager for Bouygues Real Estate from 1987-1991. In 1991 he then joined Capri Entreprises (Groupe SCIC/CDC) as a Project Manager, where he was responsible for office programs at la Défense. Jean is a graduate of the Institut Supérieur de Gestion (Paris).

Asset Management Senior Officer

Jean-Pierre Noble is Asset Management Senior Officer at AEW Europe. In this role he is responsible for managing the assets of several property companies, SCPI , SCI and limited companies totaling more than 1.1 million m² of assets. This comprises predominantly office and retail buildings, with some warehouses and 850 residential flats.

Until March 2007, Jean-Pierre was Directeur General of Ciloger and President Directeur General of Actigestion, the two SCPI management companies owned by Caisse d'Epargne group. Prior to joining the Group in 1995, from 1989-1995, he held the same position in a company specialising in the management of SCPI (REITS). From 1975 to 1989 he successively held positions as Head of Management Reporting and Budgeting and Director General and member of the Management Committee for a significant national construction company, also involved in the management of serviced apartment blocks.

Jean-Pierre took the post baccalaureat training for the Grandes Ecoles given by the CPAG organisation at the Law and Economic Sciences department at Poitiers. He also holds an Arts degree from Poitiers University and followed the CRC Postgraduate Finance course at Jouy-en-Josas in 1987/1988.

Managing Director, Head of Client Services & Marketing

Monica O'Neill is Managing Director, Head of Client Services and Marketing for AEW Europe. In this capacity she is responsible for strengthening existing client relationships, developing new relationships through effective marketing strategies and working closely with Fund Operations to deliver prompt and informative reporting.

Prior to joining AEW Europe, Monica was an advisor to a number of European real estate and hedged strategies firms on product structuring, fundraising, communication, and client service strategies. Previously as Head of Institutional and Private Client Development for Strategic Investment Group, Monica developed new investment products and managed global client relationships for the US $8 billion investment manager of fund of funds and separate accounts in equities, fixed income, hedged strategies, private equity and property portfolios. Monica has directed the business development activities of two different U.S. regional economic development agencies, and from 1986 to 1992 lead the syndication and client development efforts of one of the largest owner/investor of multi-family housing in the United States. Monica is a graduate of Boston University (BA Hons).

Associate Director, Research & Strategy

Jose Luis Pellicer manages AEW Europe's research function in London, where he is involved in transaction underwriting and fund strategy.

Before joining AEW Europe, Jose Luis spent some time in the property derivatives sector, both as an analyst and a trader at Goldman Sachs and then ING. Previous to that, Jose Luis was Head of Research at Rockspring Property Investment Managers (previously known as Pricoa), having joined from RREEF in 2004.

Jose Luis is a graduate in Economics from Carlos III University in Madrid, completed the Msc in Economics from Louvain (Belgium) and the Msc in Real Estate Investment from Cass Business School (London).

Jose Luis is also a guest lecturer at Nottingham Trent University, and a member of both the IPF and the Society of Property Researchers.

Managing Director

Håkan is Managing Director of AEW Europe's office in Stockholm, Sweden.

Prior to this he was a partner with the Swedish corporate finance advisory firm, Wiklund & Partner, an independent firm providing advice regarding corporate finance, mergers and acquisitions, valuations, financial and market strategy, transaction assistance and advice and project management. Håkan has been advising clients from a broad cross section of industry, financial services organisations and financial institutions. He has advised both buyers and sellers of property asset management organisations in cross border transactions in Europe. Prior to joining Wiklund & Partner, Håkan worked for the Swedish property company Hufvudstaden, first as Chief Financial Officer and Group Treasurer, and then as Managing Director of the spin off company Hufvudstaden International, which owned properties in London, Paris, Berlin, Amsterdam, Lisbon and Tokyo. In this capacity he was in charge of the demerger from Hufvudstaden and listing of the company on the Stockholm stock exchange. Håkan is a graduate of University of Arizona at Tucson (B.S.B.A).

Managing Director, Head of Investments

Rob Reiskin is Managing Director and Head of Investments for AEW Europe. In this role he has successfully closed approximately €4 billion of real estate investments.

Prior to joining AEW Europe in 1999, Rob was a Vice President in the Investment Group of Security Capital European Realty where he was responsible for the acquisition activities of a €1.5 billion (equity) European real estate investment fund. Prior to joining Security Capital in 1996, he worked as a Commercial Asset Manager with Capital Management Resources, a wholly-owned subsidiary of AEW Capital Management involved in the management, restructuring, structured sale and liquidation of the entire asset portfolios of two failed US banking institutions. From 1991 to 1993, he was an officer in the loan re-structuring group of a major Boston commercial bank where he was responsible for a portfolio of sub-performing loans, as well as for assessing the bank's European real estate exposure. Rob is a graduate of the Wharton School, University of Pennsylvania (M.B.A.) where he received the William Zucker Real Estate Award, and Trinity College (B.A.).

Director, Investments

Stephan Schaal is Director of Acquisitions at AEW Europe. He is primarily responsible for identifying, negotiating, structuring, underwriting and closing investments on behalf of the Partnership. Prior to joining AEW Europe in 2007, Stephan was a Senior Portfolio Manager at Henderson Global Investors responsible for pan-European investments.

Before Stephan moved to London in 2005 he was a Fund manager at INVESCO REAM in Munich where he was responsible for a pan-European core fund with a lot size of €500 million. During the six years in Munich he was also responsible for the Spanish and French investment and asset management operations. During the whole period of time Stephan executed and oversaw investments in Spain, France, Austria and Greece at a volume of around €500 million. Stephan has eight years of investment and fund management experience and has successfully transacted in most of the pan-European countries within all the commercial real estate sectors. Stephan has a Diploma from the University of Cologne in Business Administration.

Director, Fund Operations

Stéphane advises the Funds as Fund Operation Director. He joined AEW in 2004 as Financial Manager of the PBW Real Estate Fund.

Prior to joining AEW, Stéphane worked at Archon Group (Goldman Sachs) France as European Fund Controller (Vice President) for six years. He was previously an auditor at PriceWaterhouseCoopers Paris for two years. He graduated at the DESCF in 1995.

Director, Financial Controller

Louise Staniforth is Director, Financial Controller at AEW Europe and is responsible for corporate financial management.

Prior to joining AEW Europe, Louise was Group Accountant at Chubb plc from 2002 to 2004, where she was responsible for group reporting with focus on statutory reporting, acquisition accounting and financial performance reporting of Australasia and Asia regions. Prior to this, she worked as Financial Controller at Nicholson International concentrating on financial planning and cashflow management. Previously, she worked for Deloittes specialising in retail audit. Louise is an Associate of the Institute of Chartered Accountants in England and Wales and holds a Masters in Mechanical Engineering, Manufacturing and Management from University Of Birmingham.

General Manager

Since 2001, János Szeifert is the General Manager and member of the Management Board of PBW Hungary, and at the same time member of the Supervisory Board of BFM Facility Management. János has wide experience in real estate management business.

Previously, he was Asset and Property Manager for the Buda Square office building owned by GE Capital and Heitman. Prior to this he worked as Marketing and Sales Director at the Bank Center Management and also as Sales Office Manager at the ITC Network. János holds a teacher's degree in foreign languages as well as a degree in foreign trade.

Managing Director, Head of Portfolio & Asset Management

Rui Tereso is Head of Portfolio and Asset Management for AEW Europe. In this capacity he oversees portfolios totaling €620 million, covering multiple real estate mandates, investment structures and property types.

Prior to joining AEW Europe, he served as a Client Portfolio Manager with AEW overseeing the managed disposition of a $600 million ($250 million equity) separate account portfolio. His role included development of the portfolio business plan, including hold/sell strategies for each asset, and overseeing the execution of the disposition strategy for each of the 17 assets. He has also served as a Portfolio Manager for three other separate client relationships with assets totaling $400 million. His responsibilities included developing portfolio strategy and business plans, managing portfolio performance and communicating results and strategy to clients where he served as direct intermediary between AEW and its clients. Prior to joining AEW, Rui worked for five years as a Senior Accountant with KPMG Peat Marwick specialising in real estate, health care and mutual fund clients. He holds the title of Certified Public Accountant and is a graduate of the University of Massachusetts at Amherst (B.B.A.).

Head of Logistics Asset Management

Rémy has been Head of AEW Europe's Logistics Asset Management department since early 2008. He joined AEW Europe in 2004 as an Asset Manager in the Office team and was subsequently in charge of asset management for the logistics platforms in France. Rémy holds an MBA in finance and real estate from ESSEC.