As CEO, Mr. Payne has primary responsibility for the overall strategic direction, growth and development of Ginkgo. From February 2007 until the formation of Ginkgo, he served as the CEO of Babcock & Brown Residential. Prior to Babcock’s acquisition of BNP, Phil was the Chairman of BNP, spearheading its growth from a passive REIT in 1994 to an apartment REIT with approximately 9,000 apartment units by 2007. As BNP’s Chairman, Phil led the sale of the company to Babcock & Brown Ltd. in 2007, at a valuation that represented a doubling in BNP’s share price from the time he took over as Chairman. In addition to his duties at Ginkgo, Phil is a member of the Board of Directors for Ashford Hospitality Trust, a REIT focused on the hospitality industry. Phil received a BS degree and a JD degree, both from The College of William and Mary in Virginia, in 1973 and 1978, respectively. He holds a license (inactive) to practice law in the State of Virginia. Phil is a member of the National Multi Housing Council and the Urban Land Institute (“ULI”). He is the founding Chairman of ULI’s Responsible Property Investing Council and is co-chairman of ULI’s Climate, Land Use and Energy Committee. He is a member of Fannie Mae’s Green Financing Taskforce and the Leadership Council for Garrison Institute’s Climate, Mind and Behavior (CMB) Program. Phil has written for various publications and spoken at numerous conferences on a variety of topics, including real estate investment trusts, securities regulations, finance and responsible property investing..