Direct Invest, LLC

Overview

Direct Invest is a real estate company with a senior management team that has acquired, developed and managed in excess of 5 million square feet of real estate valued at approximately $1 billion, including over 50 buildings in major Northeast and Mid-Atlantic markets, over 2.5 million square feet of executed leases, over 3 million square feet of construction/redevelopment projects, over $400 million of portfolio and individual asset financings, and over $500 million of asset dispositions.  In addition, in 2005, 2006, 2007 and 2008, Direct Invest through its affiliates has offered approximately $460 million of tenant-in-common interests in 21 real estate assets located in the Northeast and Mid-Atlantic markets.

Operating Experience

The senior management team of Direct Invest strives to be personally involved in every aspect and stage of a real estate transaction to create and enhance the value of the property.  The summary below provides you an overview of the capabilities of the senior management of Direct Invest.

Acquisitions.  Direct Invest has a depth of local underwriting and operating experience in various geographic markets throughout the Northeast and Mid-Atlantic.  Each member of the senior management team has worked in these markets for over fifteen years and has local market knowledge, operating expertise, and local market credibility that provide a competitive advantage in sourcing acquisition opportunities and creating value.  Direct Invest believes that its relationships and local market knowledge translate into knowledgeable pricing decisions and preemptive acquisition opportunities.  Many of the senior management team’s acquisitions have been sourced off market.

Leasing.  Since 1997, Direct Invest’s senior management team has leased over 2.5 million square feet of space.  Representative tenant relationships include AT&T, New York Life, Computer Sciences Corporation, Cadbury, Citicorp, State Street Bank, Samsung, Merck, Merrill Lynch, Compaq, Wells Fargo, ADP, GE, Sun Microsystems, EMC, Prudential and others.  In addition to direct tenant relationships, the senior management team has established long-standing relationships with key leasing brokers who are active in each of its markets.

Property Management/Reporting.  Direct Invest’s philosophy is to develop business plans for each of its assets and empower key professionals to execute those plans to the highest level, consistent with financial goals and tenant satisfaction requirements.  With its experience serving the operating and reporting requirements of both a publicly traded real estate company and an investment bank, the senior management team understands the systems and procedures required to satisfy owners.

Construction/Development.  In the past six years, the senior management team has completed over $300 million of construction/development projects involving over 3 million square feet of space.  This work ranges from full building redevelopments (“gut rehabs”) to tenant improvement work for Fortune 100 tenants.  In addition, Direct Invest has a network of local consultants in each market that facilitates straightforward, timely and locally sensitive permitting and construction for all projects.

Financing/Dispositions.  Since 1997, Direct Invest’s senior management team has completed credit facility, sub-portfolio and individual asset financings totaling over $400 million.  In addition, the senior management team has completed over $500 million of asset sales in more than 20 separate transactions.

Unique Value Opportunities.  The senior management team looks for ways to create value for commercial properties using its relationships and local market knowledge.  The team also has underwritten large, multi-asset portfolio opportunities, real estate asset-backed loan purchases and commercial (non-real estate) operating company acquisitions.

William F. Rand, III  President
William Rand is a Partner and Direct Invest’s President. He is responsible for overseeing the day-to-day operations of Direct Invest, including acquisitions, asset management, equity sales and debt placement. Prior to forming the Company, Mr. Rand was the Chief Operating Officer for WP Commercial and most recently managed the New England region for Archon Group, which had 22 properties, totaling 2.8 million square feet in the region. Prior to joining WP in 2001, Mr. Rand was a Partner at Terra Nova Partners, LLC, a real estate development and investment company. From 1991 to 1998, Mr. Rand served as Chief Operating and Finance Officer for the Saracen Companies; a Massachusetts based real estate operator and developer. Prior to 1991, Mr. Rand founded and owned the Granite Companies, a private real estate firm. In addition, Mr. Rand has been employed by Cohen Properties and Dayton Hudson in their real estate division. Mr. Rand majored in Finance at Bentley College and is a member of NAIOP Massachusetts. Mr. Rand lives in Andover, Massachusetts.

Peter W. Evans  Principal
Peter Evans is a Principal and is responsible for managing registered representatives within the selling group and raising tenant-in-common equity. Prior to joining Direct Invest, Mr. Evans served as a principal of the Codman Company in Boston where he was responsible for managing the Landlord Representation Services for the company. Prior to Codman, Mr. Evans served as Director of Leasing for The Archon Group. Mr. Evans was responsible for the leasing of the Massachusetts portfolio consisting of approximately 22 properties totaling 2.8 million square feet. Prior to joining Archon in 2001, Mr. Evans served as a Vice President of Meredith and Grew, Inc., Boston, as a commercial real estate broker with a focus on landlord representation. Mr. Evans majored in economics at the University of Colorado, Boulder and is a member of the Commercial Broker Association of Massachusetts. Mr. Evans lives in Duxbury, Massachusetts.

Jeffrey C. Clary  Principal / Associate General Counsel
Jeffrey Clary is a Principal and Direct Invest’s Associate General Counsel. Mr. Clary is responsible for all in-house legal functions and initiatives as well as coordinating and overseeing Direct Invest’s offerings, subscriptions, investor closings and investor relations. Prior to joining Direct Invest, Mr. Clary served as a regulatory attorney and compliance associate at Morgan Stanley from July 2002 to August 2005. Mr. Clary was responsible for analyzing and responding to regulatory inquiries generated from the U.S. Securities and Exchange Commission as well as all applicable self-regulatory organizations (e.g., NASD). Mr. Clary also advised various business personnel on issues regarding compliance with existing securities laws and regulations as well as internal firm policy. Mr. Clary was with the American Stock Exchange from October 2001 to July 2002 as an investigator in their Investigations / Examinations Department. Further, Mr. Clary served internships with the aforementioned American Stock Exchange, the New York Stock Exchange as well as the NASD from June 1999 through May 2001 while pursuing his law degree. At the aforementioned self-regulatory organizations Mr. Clary assisted with the investigation and development of enforcement actions against member firms and registered representatives. Mr. Clary received his B.A. degree in Criminal Justice from the University of Delaware and his Juris Doctorate from Seton Hall University School of Law. Mr. Clary is licensed to practice law in New York and New Jersey.