Investment Strategy

• REIT preferred equities currently provide a compelling risk/reward opportunity as a fixed-income component of an investment portfolio
• The pervasive negative sentiment toward commercial real estate has prevented investors from recognizing the relative balance sheet strength of many REITs
• REIT preferred investors currently receive an 8% - 9% annual yield, which compares very favorably to the 5% - 6% annual yield available from other fixed-income investments with equal financial metrics
• REIT preferred shares are traded on the major stock exchanges, providing real-time quotes and daily liquidity
• The REIT preferred strategy will be executed using separately managed accounts, providing investors with complete access and control