Our investments require us to take risks, but we only take those risks we understand, where we have unique insight, and where the rewards are sufficient to justify the potential cost.

Taking these risks and managing them well is the job of every team member. That’s the ideal because no one small, central group can evaluate every assumption of risk. We must do and rely on all team members to think before they act. This vigilance works because we treat everyone as a risk manager, guarding against inappropriate risk.

We overlay that universally shared responsibility with rigorous attention to managing our liquidity, our capital commitments, our expenses and our reputation. We watch them all very closely, making it a mission- critical priority to practice active and intelligent risk management at the highest levels of our team.

In an electronic age, markets can shift instantaneously, so we stress=test our assumptions as we pursue, in a balanced and focused way, real-estate acquisitions. We will continue to utilize this meticulous approach as we enter each potential acquisition, introduce new asset classes and build our existing platform in order to better serve our clients, partners, investors and deliver deep value.