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Acadia Realty Trust (AKR)

AKR on New York Consolidated

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2 Dec 2016
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Summary

Name Age Since Current Position

Kenneth Bernstein

54 2001 President, Chief Executive Officer, Trustee

Christopher Conlon

56 2012 Chief Operating Officer, Executive Vice President

Joel Braun

64 2007 Executive Vice President, Chief Investment Officer

Joseph Napolitano

51 2007 Senior Vice President, Chief Administrative Officer

Jason Blacksberg

40 2014 Senior Vice President, General Counsel

Amy Racanello

2016 Senior Vice President, Capital Markets & Investments

Lee Wielansky

64 2004 Lead Independent Trustee

Douglas Crocker

75 2003 Independent Trustee

Lorrence Kellar

78 2003 Independent Trustee

Wendy Luscombe

64 2004 Independent Trustee

William Spitz

65 2007 Independent Trustee

Lynn Thurber

69 2016 Independent Trustee

C. David Zoba

64 2015 Independent Trustee

Biographies

Name Description

Kenneth Bernstein

Mr. Kenneth F. Bernstein is President, Chief Executive Officer, Trustee of Acadia Realty Trust. He has been President and Trustee of the Company since August 1998, when the Company acquired substantially all of the assets of RD Capital, Inc. ("RDC") and affiliates. From 1990 to August 1998, Mr. Bernstein was the Chief Operating Officer of RDC. In such capacity, he was responsible for overseeing the day-to-day operations of RDC, its management companies, and its affiliated partnerships. Prior to joining RDC, Mr. Bernstein was an associate at the New York law firm of Battle Fowler, LLP, from1986 to 1990. Mr. Bernstein received his Bachelor of Arts Degree from the University of Vermont and his Juris Doctorate from Boston University School of Law. He also serves on the boards of BRT Realty Trust and Golub Capital BDC. Mr. Bernstein is also a member of the National Association of Corporate Directors ("NACD"), International Council of Shopping Centers ("ICSC"), where he is on the Board of Trustees and has previously served as the co-chair of the Committee on Open-Air Centers, National Association of Real Estate Investment Trusts ("NAREIT"), Urban Land Institute ("ULI"), and the Real Estate Roundtable. In addition to being a member of the Young Presidents Organization, where he was the founding chairman of the Real Estate Network and currently sits on the Board of Advisors, he also sits on the Department of Real Estate Advisory Board at Baruch College. Mr. Bernstein has service as president and chief executive officer of the Company for the past 15 years, extensive network of contacts in the real estate industry and his leadership positions with various industry and business associations.

Christopher Conlon

Mr. Christopher Conlon is Chief Operating Officer, Executive Vice President of Acadia Realty Trust. Previously, from February 2008, Mr. Conlon served as Senior Vice President - Leasing and Development. From 1992 to 2007, Mr. Conlon was a partner at Ripco Real Estate Corporation where he was responsible for the leasing and development/redevelopment of neighborhood shopping centers, vertical urban retail centers and mixed-use properties with retail components. Mr. Conlon received his Bachelor of Arts from the State University of New York at Stony Brook and his J.D. from St. John's University School of Law.

Joel Braun

Mr. Joel L. Braun is an Executive Vice President, Chief Investment Officer of Acadia Realty Trust. Mr. Braun has been Chief Investment Officer of the Company since August 1998. Mr. Braun was a Senior Vice President of the Company from August 1998 until January 2007 when he was named Executive Vice President. Mr. Braun is responsible for all of the Company's merger and acquisition activities. Previously, Mr. Braun was Vice President of Acquisitions for RD Capital, Inc. Mr. Braun holds a Bachelor's Degree in Business Administration from Boston University and a Master's Degree in Planning from The Johns Hopkins University.

Joseph Napolitano

Mr. Joseph M. Napolitano is a Senior Vice President and Chief Administrative Officer of Acadia Realty Trust, since April 2007. He is accountable for managing the Company’s human resources, information technology, corporate performance management and business planning functions. In addition, since August 2009, Mr. Napolitano has served as the head of the Property Management department of the Company. Previously, he held the position of Senior Vice President, Director of Operations. Mr. Napolitano has been with the company since January 1995, and has over twenty years of real estate experience. Mr. Napolitano holds a Bachelor’s Degree in Business Administration from Adelphi University, and is a Human Capital Strategist (HCS) as certified by the Human Capital Institute, and is a Certified Property Manager (CPM) by the Institute of Real Estate Management.

Jason Blacksberg

Mr. Jason Blacksberg is a Senior Vice President, General Counsel of Acadia Realty Trust. He is accountable for leading and executing Acadia’s legal strategy and affairs. Prior to joining the Company, Mr. Blacksberg was Senior Vice President of Investments & Assistant General Counsel at the Trump Organization. Prior to joining Trump, Mr. Blacksberg was an Associate at the law firm of Davis Polk & Wardwell. Mr. Blacksberg began his legal career as a law clerk to Chief Judge Marilyn Huff in the U.S. District Court, Southern District of CA. He received his law degree from Georgetown University Law Center and his bachelor's degree from the University of Pennsylvania.

Amy Racanello

Lee Wielansky

Mr. Lee S. Wielansky is Lead Independent Trustee Acadia Realty Trust. Mr. Wielansky has been a Trustee of the Company since May 2000 and the Lead Trustee since 2004. Mr. Wielansky has been Chairman and Chief Executive Officer of Midland Development Group, Inc., which focuses on the development of retail properties in the mid-west and southeast, since May 2003. From November 2000 to March 2003, Mr. Wielansky served as Chief Executive Officer and President of JDN Development Company, Inc. and a director of JDN Realty Corporation through its merger with Developers Diversified Realty Corporation in 2003. He was also a founding partner and Chief Executive Officer of Midland Development Group, Inc. from 1983 through 1998 when the company sold its assets to Regency Centers Corporation. Mr. Wielansky is a director of Pulaski Bank and is a Director for Isle of Capri Casinos, Inc. Mr. Wielansky is also a member of the NACD.

Douglas Crocker

Mr. Douglas Crocker II, is an Independent Trustee of Acadia Realty Trust. Mr. Crocker has been the managing partner of DC Partners LLC since 2013. He was the Chief Executive Officer of Equity Residential, a multi-family residential real estate investment trust ("REIT"), from December 1992 until his retirement in December of 2002. During Mr. Crocker's tenure, Equity Residential grew from 21,000 apartments with a total market capitalization of $700 million to a $17 billion company with over 225,000 apartments. Mr. Crocker was also a former Managing Director of Prudential Securities, and from 1982 to 1992 served as Chief Executive Officer of McKinley Finance Group, a privately held company involved with real estate, banking and corporate finance. From 1979 to 1982, Mr. Crocker was President of American Invesco, the nation's largest condominium conversion company, and from 1969 to 1979 served as Vice President of Arlen Realty and Development Company. He currently sits on the boards of the real estate investment trust Ventas and Associated Estates Realty Corporation. Mr. Crocker is a member of the National Multi-Housing Council. In addition, Mr. Crocker serves as a director of CYS Investments, Inc. and Milton Academy. Mr. Crocker has been a five-time recipient of Commercial Property News' Multifamily Executive of the Year Award, a three-time winner of their REIT Executive of the Year Award, a three-time winner of Realty Stock Review's Outstanding CEO Award, and received NAREIT's 2010 Edward H. Linde Industry Leadership Award. Mr. Crocker is also a member of the NACD.

Lorrence Kellar

Mr. Lorrence T. Kellar is an Independent Trustee of Acadia Realty Trust. Mr. Kellar was Vice President at Continental Properties, a retail and residential developer from November 2002 until his retirement in November 2009. He is a director of Frisch's Restaurants and Spar Group, Inc. and the recently retired chairman of Multi-Color Corporation. Prior to joining Continental Properties in November of 2002, Mr. Kellar served as Vice President of Real Estate with Kmart Corporation from 1996 to 2002. From 1965 to 1996, Mr. Kellar served with The Kroger Co., the country's largest supermarket company, where his final position was Group Vice President of Finance and Real Estate. Mr. Kellar is also a member of the NACD. Mr. Kellar has over 40 years of real estate operating and development experience, extensive experience managing financial functions, including general accounting, audit, finance, and treasury.

Wendy Luscombe

Ms. Wendy Luscombe is an Independent Trustee of Acadia Realty Trust. Ms. Luscombe has worked independently including being master advisor to the Prudential, PLC of the U.K. on its US real estate strategy and also asset managing its retail properties. The strategy was tactical and involved acquiring and selling individual assets and portfolios over market cycles. From 1989 to 1994, Ms. Luscombe was based in London and was Chief Executive Officer of Taylor Woodrow Construction's urban renewal subsidiary, responsible for its London Dockland developments. She also worked on the Russian and Australian projects of a private developer. Prior to that, from 1979 to 1989, Ms. Luscombe was Chief Executive Officer of Pan American Properties, Inc. a New York based public REIT sponsored by the British Coal Pension Funds. During the same period she was also Chief Executive Officer and Chief Investment Officer of Buckingham Holdings, Inc. the U.S. private equity investor of the British Coal Pension Funds. Ms. Luscombe was responsible for the acquisition, management and disposition of all the assets of these two entities, including the unsolicited takeover of two publicly traded REITs. The portfolios of these entities totaled approximately $1 billion. Ms. Luscombe has sat on the boards of both public and private companies in both the U.S. and Europe, including the Zweig Fund and Zweig Total Return Fund where she was Co-Lead Director from 2005-2013 and Deutsche Bank's International Real Estate Opportunity Funds (1A and B) where she was Chair of the Management Oversight Committee until 2014. Additionally, she was appointed by the State Comptroller to serve on the Real Estate Advisory Committee for the New York State Common Retirement Fund from 2012 to 2013. She sat on the board of PXRE Reinsurance Company where she served as Chair of the Investment Committee from 1994 to 2007. She received her degree in Estate Management from Oxford Brookes University

William Spitz

Mr. William Taylor Spitz is an Independent Trustee of Acadia Realty Trust, since August 2007. Mr. Spitz has served as a Director of Diversified Trust Company, a private wealth management trust company, for 20 years and has served as a Director and Principal since March 2009. Previously, he was Vice Chancellor for Investments and Treasurer of Vanderbilt University, Nashville, Tennessee from 1985 to July 2007. As Vice Chancellor for Investments at Vanderbilt, Mr. Spitz was responsible for managing the University. He was also a member of the Senior Management Group of the University, which is responsible for the day-to-day operations of the institution. During his tenure, the Vanderbilt endowment earned returns in the top 10% of a broad universe of endowments for multiple time frames. While at Vanderbilt, Mr. Spitz conducted asset allocation studies and implemented detailed investment objectives and guidelines, developed a comprehensive risk management plan, invested in approximately two hundred limited partnerships in five illiquid assets classes, selected new custodians for both the endowment fund and the University's charitable remainder trusts and implemented a more aggressive approach to working capital management. In addition, Mr. Spitz was also on the faculty of Vanderbilt University as Clinical Professor of Management-Owen Graduate School of Management. He has also held various high-level positions with successful asset management companies and has served on the board of several companies, including Cambium Global Timber Fund, The Common Fund, MassMutual Financial, and the Bradford Fund. He has also served on multiple advisory committees, including Acadia's Opportunity Fund Advisory Boards, on which he served from 2001 to July 2007. Mr. Spitz is a published author and frequent speaker at industry conferences and seminars.

Lynn Thurber

Ms. Lynn C. Thurber is Independent Trustee of Acadia Realty Trust. Ms. Thurber is currently the chairman of LaSalle Investment Management., investing in private real estate as well as publicly-traded real estate companies on behalf of institutional and individual investors. Prior to becoming chairman of LaSalle Investment Management, Ms. Thurber was the chief executive officer of LaSalle Investment Management from March 2000 to December 2006 and co-president from December 1994 to March 2000. Prior to Alex Brown, Kleinwort Benson (“ABKB”) Realty Advisors’ merger with LaSalle Partners in 1994, Ms. Thurber was chief executive officer of that company. Before joining ABKB in 1992, she was a principal at Morgan Stanley & Co. Ms. Thurber is also chairman of the board of Jones Lang LaSalle Income Property Trust, an SEC registered, non-traded REIT. Ms. Thurber earned an M.B.A. from Harvard Business School and an A.B. from Wellesley College. Ms. Thurber is a member of the board of Duke Realty Corporation. Ms. Thurber is a board member and the immediate past global Chairman of ULI-Urban Land Institute. In addition, Ms. Thurber is currently a member of The Chicago Network and the Wellesley College Business Leadership Council and a member of the board of the Bitterroot Land Trust. Ms. Thurber was the 2013 recipient of the Landauer White award from the Counselors of Real Estate and the 2015 recipient of the Lifetime Achievement Award from the ULI District Council of Chicago.

C. David Zoba

Mr. C. David Zoba is Independent Trustee of Acadia Realty Trust. Mr. Zoba is senior real estate strategy advisor of Gap, Inc., where he is focused primarily on the expansion of the Gap, Gap Outlet, and Old Navy brands in China. Previously, from 2009 to 2015, he served as senior vice president of global real estate for Gap, Inc., where he was responsible for developing and executing the company’s real estate strategy for its portfolio of brands. During this time, he was actively involved in the growth of Athleta, a brand that was initially available only online, to 100 stores in four years. Before joining Gap Inc., from July 2006 through December 2008, Mr. Zoba was principal and chief operating officer of Steiner + Associates, a developer of lifestyle and regional town centers. From November 2004 through April 2006, Mr. Zoba served as president and chief operating officer of Premier Properties, a real estate development company. From 2001 through late 2004, he was executive vice president of Galyan’s Trading Company, Inc., a spinoff of The Limited, where he helped create and launch a specialty sporting goods retailer that later became part of Dick’s Sporting Goods. Prior to that, beginning in June 1994, Mr. Zoba held a variety of legal and operational roles at The Limited. Mr. Zoba currently serves on the Board of Trustees and on the Executive Board of the International Council of Shopping Centers and on the Board of Larkin Street Youth Services in San Francisco. He is also chairman of JLL’s Global Retail Leasing Board. Mr. Zoba earned his undergraduate degree from Harvard University and attended the London School of Economics for graduate studies. He has a J.D. from Case Western Reserve University Law School.