Chadwick Saylor, through its affiliate CS Capital Management, Inc. (“CSCM”), invests equity and subordinated debt in real estate on behalf of institutional investors through separate accounts, commingled funds and “special situations” programs. CSCM typically invests in joint ventures with development and operating partners that contribute equity capital and have significant experience and competitive advantages in their local markets. CSCM currently has $364 million of institutional capital under management in property with a gross valuation of approximately $829 million. Additionally, CSCM currently provides investment advisory services to institutions with real estate assets, including securities and real property, of approximately $1.5 billion.

The following chart outlines CSCM’s business lines by: (1) Commingled Funds & Separate Accounts; (2) Ventures with Developers/Operators; and (3) Portfolio Management.