Lazard Real Estate Partners

LREP is led by two Managing Principals with longstanding experience in the real estate industry. Their skill sets and those of the other members of the senior management team include expertise in corporate and real estate operations, financing, restructuring, and mergers and acquisitions.

Matthew J. Lustig | Managing principal

Mr. Lustig is the Chief Executive Officer and a Managing Principal of LREP and a Managing Director and Board Member of LAI. He is separately Vice Chairman of US Investment Banking and Head of Real Estate at Lazard Fr�res & Co. LLC
(�Lazard�), responsible for its real estate industry investment banking activities.

Mr. Lustig has managed LREP, set strategy, and overseen many of the transactions within LREP�s investment funds, which have invested over $2.5 billion of equity capital in real estate operating companies and properties. Mr. Lustig is Chairman of the Board of Atria Senior Living, Inc. and is or has been a director of numerous public and private portfolio companies of LREP.

Mr. Lustig oversees Lazard�s real estate investment banking business and has extensive experience in advising clients with respect to strategic matters, restructuring, finance and capital raising, and first tier asset and portfolio sales. In recent years, he has advised on over $200 billion of strategic transactions involving leading real estate companies in the public and private markets. Mr. Lustig is also a member of Lazard's fairness opinion committee. Prior to joining Lazard in 1989, Mr. Lustig was a First Vice President at Drexel Burnham Lambert. He was previously a lending officer with Chase Manhattan Bank specializing in credit, construction, and real estate finance.

Mr. Lustig is a member of the Real Estate Roundtable among other industry organizations, and serves on the boards of Pension Real Estate Association, Larson Leadership Initiative at the Urban Land Institute, The Wharton School Zell/Robert Lurie Real Estate Center and the Real Estate Advisory Board at Columbia University School of Business; he also serves on the boards of Ventas, Inc. (NYSE: VTR) and Boston Properties, Inc. (NYSE: BXP) and the Board of Visitors of the School of Foreign Service at Georgetown University, from which he received a BSFS in International Economics in 1982.

Douglas N. Wells | Managing principal

Mr. Wells is a Managing Principal of LREP with responsibility for acquisitions and investment management. Mr. Wells previously represented LREP as President of InTown Suites Management, Inc. and a member of the Membership Committee of InTown Holding Company, L.L.C., the parent of InTown Suites. He also served, on behalf of LREP funds, as a member of the Partnership Committee of DP Operating Partnership, L.P., the Partnership Committee of The Rubenstein Company L.P. and the board of Center Trust, Inc. (Formerly traded NYSE: CTA), where he was a member of the Investment Committee and the Compensation Committee.

Prior to joining LREP in 1997, Mr. Wells was with The Mutual Life Insurance Company of New York/ARES Realty Capital, Inc. from 1993. He was a Vice President from 1995 to 1997 responsible for restructuring non-performing real estate loans and asset management, property management and leasing of the parent company's equity real estate investments. Mr. Wells was with Shelter Corporation of Canada Limited from 1988 to 1991, where he was involved with property development, leasing, and management of office, retail and multi-family assets.

Mr. Wells is a member of the Urban Land Institute and the Pension Real Estate Association. He received a B.A. from Trent University and an M.B.A. from the University of Denver.