Independencia Asset Management LLC

Independencia Asset Management LLC (“IAM”) is a real estate asset management firm headquartered in Miami with an additional office in Boston. Since incorporating in US in 2004, IAM has invested in more than 18 million square feet of core-plus and value-add office, retail, industrial and multi-family assets in 24 states with eleven different local operating partners. To date, IAM has invested in over $4B worth of real estate assets through 50+ different SPEs. IAM’s current portfolio consists of approximately $2.0B of assets under management through 30+ different SPEs. Independencia Administradora de Fondos de Inversion S.A. (“Independencia”) – Registered Investment Funds – IAM’s Chilean-Based Joint Venture Partner IAM’s parent company, Independencia Administradora de Fondos de Inversion S.A., founded in Santiago in 1990, currently manages the largest real estate investment fund in Chile and is considered the country’s industry leader in terms of size and fund yields. Through its RENTAS INMOBILIARIAS fund, Independencia has invested in more than 740,000 m² (US$ 700 million) of commercial real estate in Chile and the United States, mainly office buildings, retail and warehouse rental space. The investors in Independencia funds are primarily institutional investors, including all five of the Chilean pension funds (“AFPs”) and the majority of Chileans life insurance companies.