Mr. Franzen is a commercial real estate and hospitality professional with over 20 years of experience spanning

acquisitions, development, operations, asset management, and branding. Mr. Franzen is currently the President of

Graduate Hotels for AJ Capital Partners in Chicago, Illinois. In that role, Mr. Franzen leads a team of 40 people,

including experts and professionals in such disciplines as branding and marketing, graphic design, food and

beverage, sales and revenue management, interior design, project management, real estate transactions, asset

management, and accounting, in the execution of AJ Capital Partners’ strategic plan to grow the Graduate Hotels

brand across the U.S. Mr. Franzen is a graduate of DePauw University in Greencastle, Indiana and holds a Juris

Doctorate degree from DePaul University College of Law in Chicago, Illinois.

Avi Lewittes leads Scion’s analysis, planning and execution for new acquisitions and financing, as well as advising the company’s strategic evolution. He has 25 years of experience in corporate and real estate finance, including 20 years at major Wall Street investment banks and three years as the Chief Investment Officer for a healthcare real estate REIT.

Mr. Merrill is the Co-Founder, President and CEO of Harrison Street Real Estate Capital, LLC, a real estate private equity firm he co-founded in 2005 that has completed approximately $21 billion in transactional volume and has over $14.6 billion in AUM as of 1Q18. The firm was an innovator and early adopter of a focused investment strategy around the Education, Healthcare and Storage segments of the real estate market. Investments have been made through a series of discretionary, commingled real estate funds including an opportunistic closed end fund series (Funds I-VI) and an open-end real estate fund that have raised over $11 billion in discretionary equity capital. Other firm platforms include a European Student Housing strategy as well as a Real Estate Securities practice. The firm has offices in Chicago and London.

Prior to co-founding Harrison Street, Mr. Merrill was a partner, owner and Managing Director of a large US Pension Fund Advisory firm where he developed the firm's presence in Europe.

In recent years, National Real Estate Investor Magazine has named Mr. Merrill one of the "10 To Watch" leaders in the industry, PERE nominated him as one of the top real estate executives in North America and Real Estate Forum named him one of “Chicago's Real Estate Icons.”

Mr. Merrill is a member of the NAREIM Board of Directors, Pension Real Estate Association (PREA), The Real Estate Advisory Board of two Chicago based family offices (Gore Creek and Kinship Capital), The First Tee of Greater Chicago Board, The Economic Club of Chicago, the Chicago Commonwealth Club and the Young Presidents Organization (YPO). Mr. Merrill earned his MBA in the evening from the CASS school of business in London, England.