Office Investment Forecast

Mr. Schreiber serves as chief executive officer of KBS and its affiliate KBS Capital Advisors. Both are nationally recognized real estate investment advisory firms with transactional volume of more than $38.0 billion. KBS is ranked by National Real Estate Investor among the top office owners globally. KBS operates numerous government pension funds, institutional and sovereign wealth funds as well as seven non-traded REITs. Mr. Schreiber oversees all KBS operations including the acquisition and management of individual investments and portfolios of income-producing real estate assets. He directs all facets of the company’s business activities and is a member of the KBS Investment Committee, which evaluates and authorizes new investment opportunities for the firm. Mr. Schreiber is also responsible for investor relationships. Mr. Schreiber is chairman of KBS REIT II, KBS REIT III and KBS Growth & Income REIT — all public, non-listed real estate investment trusts. Mr. Schreiber has been involved exclusively in real estate development, management, acquisition, disposition and financing for more than 45 years. Prior to forming KBS in 1992, he served as the executive vice president of Koll Investment Management Services and executive vice president of acquisitions and dispositions for The Koll Company. Mr. Schreiber graduated from the University of Southern California with a bachelor’s degree in finance with an emphasis in real estate. During his four years at USC, he did graduate work in the Real Estate Department of the USC Graduate School of Business. He is currently an executive board member for the USC Lusk Center for Real Estate at the Marshall School of Business/ School of Policy, Planning and Development. Mr. Schreiber is also a member of the Executive Committee for the Public Non-Listed REIT Council of National Association of Real Estate Investment Trusts (NAREIT) and a member of the National Council of Real Estate Investment Fiduciaries (NCREIF).

Former President of Maguire Investments: responsible for the oversight of a 5 million square foot portfolio, primarily located in Southern California. Grew revenue from approximately $100 million to $250 million in 3 years. Former Managing Director at Eastdil Secured: responsible for debt placement and loan sales. Placed over $20 billion of commercial real estate loans, sold more than $3 billion of performing & non-performing mortgages and mezzanine loans, and participated in a variety of M&A and recapitalization transactions. Former Manager in KPMG’s Real Estate Consulting Group: performed a variety of consulting engagements and managed due diligence activities for over $5 billion of commercial real estate transactions.

Scott Watson, Managing Director, joined Walker & Dunlop’s capital markets group in November 2014 as part of the Johnson Capital Acquisition. In this position, Mr. Watson provides financing solutions to commercial real estate developers and owners located nationwide. Prior to joining Walker & Dunlop, Mr. Watson served as vice president at Johnson Capital, where he was responsible for structuring debt, mezzanine, and equity transactions for his clients. Before Johnson Capital, Mr. Watson served as finance director for Mission Pacific Land Company. As finance director, Mr. Watson was involved in managing public finance proposals (CFDs), leading comprehensive due diligence on potential acquisitions, and assisting in negotiations on the sale of residential and commercial land. Mr. Watson holds a Bachelor of Science in business administration along with a Master of Business Administration and a Master of Science in real estate development from the University of Southern California.