THE BOARD OF DIRECTORS RECOMMENDS A VOTE "FOR" MR. BATINOVICH
Information about Director Nominee
The following table and biographical description set forth information with respect to Mr. Batinovich
, our director nominee.
Mr. Batinovich is currently a member of our board of directors.
Andrew Batinovich has served as our Chief Executive Officer, Chief Financial Officer and as a member of our board of directors since August 2013.
Mr. Batinovich has also served as our Corporate Secretary since October 2013.
Mr. Batinovich has over 30 years of experience in the acquisition and management of commercial properties including retail, office and industrial.
Mr. Batinovich also serves as President and Chief Executive Officer of Glenborough, a privately held full service real estate investment and management company focused on the acquisition, management and leasing of institutional quality commercial properties including retail, office and industrial properties.
From December 2006 to October 2010, Mr. Batinovich served as President and Chief Executive Officer of Glenborough Acquisition Co., a company formed by an affiliate of Morgan Stanley which acquired Glenborough Realty Trust, a NYSE-listed REIT, in 2006 in a transaction valued at $1.9 billion.
In 1996 Mr. Batinovich co-founded Glenborough Realty Trust, and served as President from 1997 to 2010, and as Chief Executive Officer from 2003 to 2010.
Mr. Batinovich also served as Glenborough Realty Trust's Chief Operating Officer from 1996 to 2002 and Chief Financial Officer from 1996 to 1997.
11 years with Glenborough Realty Trust
, the company grew from just over $100 million in assets to approximately $1.9 billion.
Prior to founding Glenborough Realty Trust, Mr. Batinovich served as Chief Operating Officer and Chief Financial Officer of Glenborough Corporation, a private real estate investment and management company, from 1984 until its merger with Glenborough Realty Trust in 1996.
Prior to joining Glenborough Corporation in 1983, Mr. Batinovich was an officer of Security Pacific National Bank.
Mr. Batinovich has served as an independent director of Sunstone Hotel Investors (SHO: NYSE), a public REIT that invests in hotel properties, since November 2011, and as an independent director of RAIT Financial Trust (RAS: NYSE), a public REIT that provides debt financing options to owners of commercial real estate and invests directly into commercial real estate, since March 2013.
In addition, Mr. Batinovich is currently an independent director of G. W. Williams Co., a privately owned real estate company primarily focused on West Coast multi-family properties.
Mr. Batinovich earned a BA in International Business Administration from the American University of Paris.
The Special Committee, on behalf of the board of directors, has determined that Mr. Batinovich is qualified to serve as one of our directors due to his successful management experience for public and private real estate companies.
For biographical information regarding Mr. Batinovich, see "Information about Director Nominee" above.
Board of Directors
The board of directors held 23 meetings during the fiscal year ended December 31, 2012.
Each of our current directors attended at least 75% of the aggregate of the total number of meetings of the board of directors held during the period for which he served as a director and the aggregate total number of meetings held by all committees of the board of directors on which he served during the periods in which he served.
One of our current directors whose term is expiring at the 2013 annual meeting and whom we have nominated for reelection, Andrew Batinovich, is associated with our advisor and is not an independent director.
Currently our chairman of the board is Mr. Maier and our chief executive officer is Mr. Batinovich
Mr. Batinovich was appointed our chief executive officer and as a member of our board of directors in August 2013.