ADVISORY COMMITTEE MEETING

Daniel Clifton is a Partner and Head of Policy Research for Strategas Securities. In this capacity, Mr. Clifton evaluates the financial market implications of policy and political developments. This includes analyzing tax, trade, infrastructure, healthcare, energy, defense and other policy initiatives to determine how public policy changes impact the economy and financial markets for institutional investors.
Daniel leads Strategas’ Washington policy research team, which is the #1 ranked Washington policy team on Wall Street, according to Institutional Investor (II). Dan and his team have been ranked as one of the top Washington policy teams in each of the past 16 years. Mr. Clifton is also a top ranked analyst in the category of Accounting and Tax Policy according to the same II report.
Mr. Clifton’s research on the interaction between policy, elections, and financial markets is widely cited in the media and Daniel is a frequent guest on CNBC, Bloomberg, and Fox Business.
Prior to joining Strategas, Mr. Clifton was Executive Director of the American Shareholders Association (ASA), a non-partisan, non-profit organization which analyzes public policy affecting shareholders. Daniel also worked on tax policy issues prior to the ASA and has been involved in every major tax policy change over the past twenty years. Prior to moving to Washington, Mr. Clifton served as a senior staff member in two gubernatorial administrations working on economic and fiscal policy issues.
Mr. Clifton received both his BA in Urban Planning and his MS in Public Policy from Rutgers University where he was a Fellow at the Eagleton Institute of Politics and a Harold Martin Fellow for Public Policy

Bob McClain is the Chief Executive Officer of Crow Holdings Capital. He is the head of the CHC Investment Committees and is responsible for real estate investment activities at CHC.Bob has been with Crow Holdings-affiliated companies since 1986, when he joined the Trammell Crow Company in the Washington, D.C. office. He advanced to partner in the Northeast region in 1989. In 1994 he became a Managing Director of the Crow Investment Trust of Crow Holdings, responsible for shopping center investments. In 2005 he was promoted to Head of Real Estate for Crow Holdings. Bob began his career in the audit and tax practice areas with Coopers & Lybrand LLP in New York, where he became a Certified Public Accountant.Bob received a Bachelor of Science, summa cum laude, in Business Administration from the State University of New York at Albany and received a Master of Business Administration from the Harvard Business School.

Coe Juracek is Senior Managing Director of the Investor Coverage Group of Crow Holdings Capital and Chief Executive Officer of Crow Holdings Securities, where he leads capital formation, business development, and strategic initiative activities across the investment management business. Coe has been with Crow Holdings Capital and affiliated entities since 1999 and has had roles ranging from acquisitions and asset management to leading the firm’s debt capital markets from 2008 to 2013. He currently sits on the CHC Investment Committee.Coe began his business career in 1995 at Trammell Crow Company, where he served as an analyst in the corporate services team. He subsequently joined Wellsford Residential Property Trust before moving to HomeGate Hospitality/Prime Hospitality to engage in hotel development site selection and feasibility analysis before joining the Benton Company to pursue multifamily development opportunities in North Texas.Coe is a voting member of the Pension Real Estate Association and received a Bachelor of Arts in History from Duke University and a Master of Business Administration from Southern Methodist University.

Cyndy Silverthorn is the Chief Financial Officer and a Senior Managing Director of the Fund Management, Operations, & Analytics team at Crow Holdings Capital, where she is responsible for real estate fund management and operations including investor services, performance analysis, and reporting and serves as a member of the CHC Investment Committee. Since joining Crow Holdings Capital in 2000, Cyndy has been actively involved in various investment-related processes including assisting in risk management, structuring, and overall fund management.Cyndy’s prior experience includes serving as a Senior Fund Controller with CB Fund Services and real estate tax services with Arthur Andersen.Cyndy received a Bachelor of Business Administration in Accounting from Southern Methodist University, a master’s degree with concentration in accounting from the University of Texas at Dallas and is a licensed Certified Public Accountant. She is a member of the Advisory Council for Communities Foundation of Texas.

Daniel Branch is a Senior Managing Director in the Multifamily Group of Crow Holdings Capital, where he oversees the firm’s Student Housing & Multifamily investment activity. Daniel has been with Crow Holdings and affiliated entities since 2009. He also sits on the Investment Committee of Crow Holdings Capital.In 2012, Daniel joined the multifamily group as an Asset Manager and thereafter began sourcing investment opportunities in the Northeast and Mid-Atlantic. In 2014, he led the effort to evaluate Student Housing as a new investment strategy in the Value-Add fund business and has since acquired over $1 billion of Student Housing assets. In 2020, Daniel’s role expanded to include, again, Multifamily acquisitions throughout the Eastern half of the U.S. He began his career at Crow Holdings on the development & leasing team for Old Parkland before joining the real estate investment fund as an analyst.Daniel received a Bachelor of Arts in Economics and History from Vanderbilt University.

Dodge Carter is Senior Managing Director in the Multifamily Group of Crow Holdings Capital, where is responsible for the oversight of the firm’s multifamily investment activities and serves as a member of the CHC Investment Committee. He has been associated with Crow Holdings and affiliated entities since 2003.Since 1987, Dodge has held various positions with Lomas & Nettleton, First Gibraltar Bank, GE Capital Real Estate, and Olympus Real Estate Partners. Responsibilities included construction lending, debt/equity asset management, capital markets, and business development activities.Dodge is an active board member of the National Multi-Housing Council and is a member of the Folsom Institute for Real Estate at Southern Methodist University. Dodge received a Bachelor of Business Administration in Business from Southern Methodist University.

Mark G. Roberts is Head of Research at Crow Holdings, where his primary responsibilities include the development of insights, market research, and commentary on real estate topics of interest to investors, developers, operators, and other industry participants. Mark’s position is shared with the Robert and Margaret Folsom Institute for Real Estate at SMU Cox School of Business, where he extends his expertise into the classroom, teaching market analysis and strategy to undergraduate and graduate students.Mark, a fellow at the Real Estate Research Institute, a regular contributor to the National Council of Real Estate Investment Fiduciaries, and a registered architect, has over 30 years of real estate experience. He recently served as Executive Director of the Real Estate Center at the UT Austin’s McCombs School of Business, and he previously served as a Managing Director at DWS Real Estate, where he held several senior leadership positions including Head of Research & Strategy, Alternatives and Real Assets, Head of U.S. Multi-asset & Solutions, and Co-Head of Research.Prior to joining DWS’s Real Estate in 2011, he served as Global Head of Research at Invesco Real Estate, a division of Invesco Asset Management Limited. Mark was the Chairman of the Board of NCREIF, President of RERI, Chairman of the NCREIF Research Committee, and a member of the NCREIF Fund-Index Subcom­mittee, which developed the NFI-ODCE Index. He initiated and served on the Leadership Committee of the Global Real Estate Fund Index, which is a joint effort of NCREIF (US), INREV (Europe), and ANREV (Asia-Pacific).Mark holds a Master of Science in Real Estate from the Massachusetts Insti­tute of Technology and a Bachelor of Arts in Architecture from the University of Illinois at Urbana.

Dustin Viktorin is a Managing Director in the Manufactured Housing and Convenience & Gas groups of Crow Holdings Capital with responsibility for investment opportunities throughout the United States. Dustin has been with CHC and affiliated companies since 2004.Prior to joining Crow Holdings in 2004, Dustin served as Fund Controller with CB Fund Services and as a Senior Associate in the audit practice of Arthur Andersen.Dustin received a Bachelor of Business Administration and a Master of Science in Accounting from Texas A&M University. He is currently a member of the Manufactured Housing Institute and the Society of Independent Gasoline Marketers of America. He is also a Certified Public Accountant.

Kevin Fraker is a Managing Director in the Multifamily Group of Crow Holdings Capital, where he focuses on multifamily acquisition and development pursuits across the United States. Since starting his career in real estate as an analyst at Crow Holdings in 2013, Kevin has also been involved in the acquisition, development, and asset management of multifamily investments across the country in various CHC real estate funds.

Kristin Millington is a Managing Director in the Manufactured Housing and Self-Storage groups of Crow Holdings Capital, where she oversees all investment activity within the respective sectors throughout the United States.Kristin joined CHC in 2014 in the Portfolio Management group, eventually transferring to the Food & Service Retail Fund in 2015, where she was responsible for the acquisition and asset management of retail centers across the Midwest, Texas, and surrounding states. Prior to joining CHC, Kristin spent four years in the Financial Services & Real Estate Audit practice at PwC.Kristin is a licensed CPA in the State of Texas and is an active member of The Real Estate Council and the Self Storage Association. She received a Master of Science and Bachelor of Business Administration in Accounting from the University of Oklahoma. She resides in Dallas with her husband and two young sons.

Michael Balcom is a Managing Director in the Industrial Group of Crow Holdings Capital, where he oversees development and acquisition opportunities in Texas and Florida, as well as the Mid-Atlantic and Northeast regions of the United States. Since joining the firm in 2013, Michael has also been involved in the leasing, asset management, and disposition of industrial investments across various CHC real estate funds.
Prior to joining CHC, Michael worked as a Financial Analyst at AMD in Austin, Texas.
Michael received a Bachelor of Business Administration in Finance from The University of Texas at Austin. He is an active member of the NAIOP North Texas Chapter and The Real Estate Council.

Matthew Colter is a Senior Managing Director in the Industrial Group of Crow Holdings Capital, where he leads industrial investment activities across the investment management business. He has been associated with CHC and CHC-affiliated entities since 2003, where he began his career as an analyst. He has oversight of industrial pursuits for both stabilized and development opportunities throughout the United States and currently sits on the CHC Investment Committee.Matthew is an active member of the National Association of Industrial and Office Parks, The Real Estate Council, and an alumni member of the Associate Leadership Council.Matthew received a Bachelor of Business Administration in Finance from Southern Methodist University.

Michael Levy is the Chief Executive Officer of Crow Holdings, where he is responsible for leading and overseeing the Company’s overall business strategy and activities. The firm’s operations include real estate investment management, real estate development, renewable and traditional energy exploration, and securities management.Prior to joining Crow Holdings in 2016, Michael had a longstanding career in real estate finance and investment management at Morgan Stanley. He was a member of the Firm’s Management Committee and held a number of leadership positions including COO and Head of Distribution for the Investment Management Division, Head of Traditional Asset Management, COO and CFO for Real Estate Investment Management and co-head for Real Estate Investment Banking. He joined Morgan Stanley in 1998 from Salomon Brothers and began his professional career at Prudential Securities.Michael is a member of the Real Estate Roundtable, an Urban Land Institute Foundation Governor, a member of the Middle East Institute’s Board of Governors, an Executive Committee Member of the Dallas Regional Chamber of Commerce and a member of the CEO Advisory Council for the United Way of Metropolitan Dallas. He earned a Bachelor of Science at NYU’s Stern School of Business and a Juris Doctor degree from Brooklyn Law School.

Rodney Whitley is Senior Managing Director in the Manufactured Housing, Convenience Retail, and Self-Storage groups of Crow Holdings Capital, where he is responsible for specialty investment activities across the investment management business. Since joining CHC in 1997, Rodney has had many responsibilities including Controller for the Crow Investment Trust and Product Leader for retail investment activities. Rodney currently sits on the CHC Investment Committee.Rodney began his career at Coopers & Lybrand where he served as Tax Associate with responsibility for tax compliance. He later moved to Wallace Sanders & Company CPA firm where he began as a Tax Associate and later advanced to the position of Tax Manager with responsibility for tax compliance and the structuring of real estate transactions.Rodney is a member of the International Council of Shopping Centers, Society of Independent Gas Marketers, and the National Association of Convenience Stores. He is a licensed Certified Public Accountant. Rodney received a master’s degree in accounting with an emphasis in taxation from the University of North Texas.

Sam Peck is a Senior Managing Director and will serve as portfolio manager to the Core-Plus Fund. He has been with Crow Holdings and affiliated entities since 2007 and currently sits on Crow Holdings Capital’s Investment Committee and Retail Investment Committee. Sam’s role at CHC includes acquisition, financing, disposition and asset management responsibilities across the Multifamily and Retail sectors.Through 2023, Sam was the portfolio manager of the Crow Holdings Retail Funds, a niche fund strategy focused on acquiring and developing multi-tenant shopping centers featuring food, service-oriented tenancy that was ultimately recapitalized with a leading global Sovereign Wealth Fund. Prior to leading CHRF, Sam worked in CHC’s Multifamily Group where he was responsible for sourcing and overseeing acquisition, value-add, and development opportunities in the Southeastern United States and New York City.Sam received a Bachelor of Business Administration in Real Estate Finance from Texas Christian University. He is a graduate of The Real Estate Council’s Associate Leadership Council and is a member of the International Council of Shopping Centers.

Stan Mullikin is Senior Managing Director in the Capital Markets Group of Crow Holdings Capital, where he is responsible for the debt capital markets activity across the investment management business. He currently sits on the CHC Investment Committee and Credit Investment Committee. He has been associated with CHC and CHC-affiliated entities since 1998 where he began his career as an analyst.Stan’s previous roles at CHC have included acquisition, development, disposition and asset management responsibilities across the Industrial, Retail, Office, and Convenience Stores & Gas Station sectors.Stan received a Bachelor of Arts in Political Science from Southern Methodist University.