Committee Composition Committee Charting By Committee By Member J. Ronald Terwilliger Jeffrey E. Kelter John L. Steffens Michael D. Fascitelli Renee Lewis Glover Richard D. Bronson Robert T. Best Thomas W. Knapp Charter Documents Charter Documents Charter Documents Audit Committee CC Audit Committee Charter Compensation Committee CC Compensation Committee Charter Nominating and Corporate Governance Committee CC Nominating and Corporate Governance Committee Charter Audit Committee Compensation Committee Nominating and Corporate Governance Committee J. Ronald Terwilliger CC Jeffrey E. Kelter John L. Steffens CC Michael D. Fascitelli CC Renee Lewis Glover Richard D. Bronson Robert T. Best Thomas W. Knapp × Audit Committee Committee Members Jeffrey E. Kelter CC John L. Steffens Thomas W. Knapp Charter Documents Audit Committee Charter × Compensation Committee Committee Members CC Michael D. Fascitelli Robert T. Best Thomas W. Knapp Charter Documents Compensation Committee Charter × Nominating and Corporate Governance Committee Committee Members CC J. Ronald Terwilliger Renee Lewis Glover Richard D. Bronson Robert T. Best Charter Documents Nominating and Corporate Governance Committee Charter × J. Ronald Terwilliger J. Ronald Terwilliger has served as an Independent Trustee of the Company since January 2016. Mr. Terwilliger served on the board of directors of CAH until the closing of the Internalization and the Merger. Mr. Terwilliger currently serves as non-executive chairman of Terwilliger Pappas Multifamily Partners, a firm that focuses on rental apartment development. Mr. Terwilliger currently serves as chairman emeritus of the board of Trammell Crow Residential Company, the largest developer of multi-family housing in the United States, which he joined in 1979 and served as chief executive officer from 1986 to 2008. In addition to his post at Trammell Crow Residential Company, Mr. Terwilliger is both the chairman of the board of trustees of Enterprise Community Partners, a not-for-profit organization geared toward building and preserving affordable rental and for-sale housing, and vice chair of an affiliated company. Mr. Terwilliger’s current leadership roles also include chairman emeritus of the Wharton Real Estate Center, chairman of the board of directors of I Have a Dream Foundation.. Previously, Mr. Terwilliger served as a commissioner on the Bipartisan Policy Center Housing Commission and was the chairman of the international board of directors of Habitat for Humanity; he currently serves as an ex-officio member of the board and chairs Habitat for Humanity’s $4 billion Global Capital Campaign. Mr. Terwilliger has also served as chairman of the Urban Land Institute and remains a trustee, and previously served as chairman of the National Association of Homebuilders multifamily leadership board. Mr. Terwilliger is an honor graduate of the United States Naval Academy and after serving five years in the Navy, he received his MBA degree from the Harvard Graduate School of Business. Mr. Terwilliger’s years of experience with Trammell Crow Residential Company both as chief executive officer and as chairman enhance our Board’s awareness of the residential real estate market and experience with managing a large portfolio of real estate assets. Mr. Terwilliger’s service on the boards of other real estate-based organizations also provide our Board with important perspectives into the real estate industry generally. Committee Membership CC Nominating and Corporate Governance Committee × Jeffrey E. Kelter Jeffrey E. Kelter has served as an Independent Trustee of the Company since January 2016. Mr. Kelter was a member of the Starwood Waypoint Residential Trust board from January 2014 to January 2016. Mr. Kelter is a partner of KSH Capital. Prior to founding KSH Capital, Mr. Kelter was the founding partner and chief executive officer of KTR Capital Partners (“KTR”), a leading private equity real estate investment and operating company focused on industrial properties throughout North America. KTR and its commingled investment funds were sold in May 2015 to a joint venture of Prologis Inc. and Norges Bank Investment Management. From 1997 to 2004, Mr. Kelter was president and chief executive officer and a trustee of Keystone Property Trust (“Keystone”) (NYSE: KTR), an industrial REIT. Mr. Kelter founded the predecessor to Keystone in 1982, and took the company public in 1997, where he and the management team directed its operations until its sale in 2004. Prior to forming Keystone, he served as president and chief executive officer of Penn Square Properties, Inc. (“Penn Square”) in Philadelphia, Pennsylvania, a real estate company which he founded in 1982. Mr. Kelter serves on the Board of Directors of Gramercy Property Trust (NYSE: GPT), and he is a trustee of The Urban Land Institute, Cold Spring Harbor Laboratory, Westminster School, and Trinity College. Mr. Kelter’s qualifications to serve on our Board include his executive experience as president and chief executive officer of Keystone and Penn Square and his extensive experience of over 20 years in commercial real estate. Committee Membership Audit Committee × John L. Steffens John L. Steffens has served as an Independent Trustee of the Company since January 2016. Mr. Steffens served on the board of directors of CAH until the closing of the Internalization and the Merger. Since January 2017 Mr. Steffens has served as a director of Colony NorthStar, Inc., having previously served as a director for Colony Capital from September 2009 until January 2017. Mr. Steffens is the founder of Spring Mountain Capital, L.P. Founded in 2001, Spring Mountain Capital, L.P. specializes in providing advisory services and alternative investments for institutional and private investors. Prior to establishing Spring Mountain Capital, L.P., Mr. Steffens spent 38 years at Merrill Lynch & Co., Inc., where he held numerous senior management positions, including president of Merrill Lynch Consumer Markets (which was later named the Private Client Group) from July 1985 until April 1997, and both vice chairman of Merrill Lynch & Co., Inc. (the parent company) and chairman of its U.S. Private Client Group from April 1997 until July 2001. Mr. Steffens served on the board of directors of Merrill Lynch & Co., Inc. from April 1986 until July 2001. He also served as a member of the board of directors of Merrill Lynch Ventures, LLC (a $1.8 billion private equity fund for key employees). Mr. Steffens currently serves on the advisory board of Star Vest Partners, the advisory board of Wicks Communication & Media Partners, L.P., the board of directors of HealthPoint Capital, a global medical device company, and as chairman of the board of directors of Cicero, Inc., a publicly traded provider of business integration software, since May 2007. Also, Mr. Steffens serves on the Dartmouth Medical School board of overseers, which he was appointed to on October 1, 2011. From June 2004 to February 2009, Mr. Steffens served on the public board of Aozora Bank, Ltd., a financial services institution in Japan. Mr. Steffens has served as chairman of the Securities Industry Association and as a trustee of the Committee for Economic Development and is currently national chairman emeritus of the Alliance for Aging Research. Mr. Steffens graduated from Dartmouth College in 1963 with a B.A. in Economics. He also attended the Advanced Management Program of the Harvard Business School in 1979. Mr. Steffens’s years of investment experience, advisory work and senior leadership positions at Merrill Lynch devoted to private client work provide us with an investor perspective. Mr. Steffens’s extensive contacts developed through his service with a significant number of securities and financial firms provide us with a view into markets that is invaluable. Mr. Steffens’s service as a director of other public companies also help provides us with different perspectives on corporate governance matters and best practices. Committee Membership CC Audit Committee × Michael D. Fascitelli Michael D. Fascitelli has served an Independent Trustee of the Company since January 2016. Mr. Fascitelli was a member of the Starwood Waypoint Residential Trust board from January 2014 to January 2016. Mr. Fascitelli has been a managing member of MDF Capital LLC, an investment firm, since April 2013. Mr. Fascitelli has served as a member of the board of trustees of Vornado Realty Trust, an NYSE-listed REIT, since December 1996. He served as Vornado Realty Trust’s president since December 1996 and as its chief executive officer since May 2009 until his resignation from both positions effective April 15, 2013. From December 1992 to December 1996, Mr. Fascitelli was a partner at Goldman, Sachs & Co. in charge of its real estate practice and was a vice president prior thereto. From 2004 until 2013 he also served as a director of Toys “R” Us, Inc. In addition, from August 2005 through June 2008, Mr. Fascitelli was a member of the board of trustees of GMH Communities Trust, a REIT. Mr. Fascitelli holds a B.S. in Industrial Engineering from the University of Rhode Island and a M.B.A. from the Harvard University School of Business Administration. Mr. Fascitelli’s executive experience as president and chief executive officer of Vornado Realty Trust and his extensive knowledge of and experience in the real estate industry provide our Board with valuable experience and insight. Committee Membership CC Compensation Committee × Renee Lewis Glover Renee Lewis Glover has served an Independent Trustee of the Company since February 2017. Ms. Lewis Glover is the founder and has been the managing member of The Catalyst Group, LLC, a national consulting firm focused on urban revitalization, real estate development and community building, urban policy and business transformation since May 2014. From September 1994 to September 2013, Ms. Lewis Glover served as president and chief executive officer of the Atlanta Housing Authority and its affiliates. She served as a consultant for the Atlanta Housing Authority from September 2013 to November 2013 to facilitate the transition of leadership upon her retirement. Ms. Lewis Glover also served as a commissioner of the Bipartisan Policy Center Housing Commission from October 2011 to September 2014. The Bipartisan Policy Center Housing Commission was responsible for coming up with a set of bipartisan recommendations concerning federal housing policy and housing finance. Ms. Lewis Glover currently serves on the board of directors of Fannie Mae and the board of trustees of Enterprise Community Partners, Inc. Ms. Lewis Glover has served on the board of directors of Habitat for Humanity International from November 2006 to November 2015, including serving as its chairman from 2013 to 2015. She has also served on the board of directors of the Federal Reserve Bank "of Atlanta from January 2009 to December 2014 and is currently serving on" the board of advisors of the University of Pennsylvania's Institute of Urban Research. Ms. Lewis Glover has practiced corporate and corporate finance law at various firms from 1975 to 1994. Ms. Lewis Glover was recommended for membership on the Board by Mr. Terwilliger, an independent trustee and chair of the Nominating and Corporate Governance Committee. Ms. Lewis Glover’s extensive experience as a senior executive and board member for housing focused enterprises, public policy and public-private partnerships provides our Board with unique perspectives and valuable insight. Committee Membership Nominating and Corporate Governance Committee × Richard D. Bronson Richard D. Bronson has served as an Independent Trustee of the Company since January 2016. He served as a member of the Starwood Waypoint Residential Trust Board from January 2014 to January 2016. Mr. Bronson has been the chief executive officer of The Bronson Companies, LLC, a real estate development company, based in Beverly Hills, California since 2000. Mr. Bronson has been involved in the development of several shopping centers and office buildings throughout the United States. Mr. Bronson serves as a director of Starwood Property Trust and previously was a director of TRI Pointe Homes, Inc. and Mirage Resorts. He was president of New City Development, an affiliate of Mirage Resorts, where he oversaw many of the company’s new business initiatives and activities outside Nevada. Mr. Bronson is on the board of the Neurosurgery Division at UCLA Medical Center. He is a member of the Western Real Estate Business Editorial Board. Mr. Bronson has also served as vice president of the International Council of Shopping Centers (ICSC), an association representing 50,000 industry professionals in more than 80 countries. Mr. Bronson’s experience and knowledge in the real estate industry provides our Board with valuable insight into potential investments and the current state of the real estate markets. Committee Membership Nominating and Corporate Governance Committee × Robert T. Best Robert T. Best serves as an Independent Trustee of the Company. He served on the board of directors of CAH until January 2016. Mr. Best is the founder, chairman, and chief executive officer of Westar Associates, a private real estate development company established in 1980 and headquartered in Costa Mesa, California. As chief executive officer, Mr. Best developed over 70 projects exceeding $2 billion across various commercial and residential product types throughout Southern California. Prior to founding Westar, Mr. Best was a partner with Carver Companies where he was responsible for the acquisition, entitlement, leasing, finance, management, and disposition of shopping center development projects. Mr. Best currently serves on the board of directors of the University of Southern California’s Lusk Center for Real Estate. Previously, he served as secretary and founding board member of A Better LA, a community outreach program that works with inner-city groups to decrease violence and several other nonprofit organizations. He is a member of the Urban Land Institute, and the International Council of Shopping Centers. Mr. Best received a B.S. and an M.B.A. from the Marshall School of Business, University of Southern California. His real estate development experience allows him to provide sound advice on our real estate investment objectives, including acquisitions and management. As founder, chairman, and chief executive officer of Westar Associates, Mr. Best gained extensive insight into the real estate asset management industry that provides constructive perspective to our Board. Committee Membership Compensation Committee Nominating and Corporate Governance Committee × Thomas W. Knapp Thomas W. Knapp has served as an Independent Trustee of the Company since January 2016. Mr. Knapp served on the board of directors of CAH until the closing of the Internalization and the Merger. Mr. Knapp is the academic director for the Masters of Science in Entrepreneurship and Innovation and is an associate professor of Clinical Entrepreneurship and former associate director of the Lloyd Greif Center for Entrepreneurial Studies at the Marshall School of Business, University of Southern California, where he has lectured since 2008. In addition to his role at the University of Southern California, Mr. Knapp is also a national educator as a lead instructor for the National Science Foundation I-Corps program. Mr. Knapp also serves as president of Club Sportswear, Inc., a leader in the beach apparel industry, which he founded in 1984. He has consulted for Billabong International, LTD, an Australia-based company engaged in the wholesaling and retailing of surf, skate, snow and sports apparel, where he previously served as president of GSM Investments for three years. Prior to his time at Billabong and Club Sportswear, Mr. Knapp founded and held senior management roles with other successful companies in the apparel industry such as Honolua Surf Co., where he served as president, and True Textiles, Inc., where he served as chairman. Mr. Knapp was also a partner of Mad Dog Enterprises, LLC, a start-up eyewear and sunglass manufacturer. Mr. Knapp currently serves on the board of trustees of the Institute for Shipboard Education Semester at Sea and the Challenged Athletes Foundation, a charity providing grants to athletes with physical disabilities. Previously, he served on the board of directors of the Orange County Marine Institute and the American Oceans Campaign. Mr. Knapp’s many years of experience as president of Club Sportswear, Inc., along with his wide-ranging corporate experience in other senior leadership, advisory and academic positions, allow him to provide seasoned insight and business acumen to our Board as we position ourselves for future growth and development. Mr. Knapp graduated from the University of Southern California with a B.S. and Masters in Business Administration. Mr. Knapp’s extensive business background also lends our Board perspective on our corporate objectives and governance matters. Committee Membership Audit Committee Compensation Committee CC= Chairperson = Member *To view the charter documents, click on committee name.