As Co-Founder and Managing Director of Griffis Residential, Ian Griffis continues to lead the way in identifying high-return investment opportunities.  As a real estate investor, since 1985 Mr. Griffis has created a range of real estate investment opportunities for private and institutional investors with a transaction value of over $610 million.  He currently manages a portfolio valued at over $450 million and has a track record of projects with above-market returns on investment.

In addition to his investment activities, one of the predecessor organizations Mr. Griffis co-founded (Griffis/Blessing, Inc.) became the largest property management company in Southern Colorado.  Mr. Griffis sold this business in 1997, while continuing his investment activity.  Mr. Griffis' property management experience is critical in providing leadership to the Funds' asset managers and onsite property management teams.

As a Managing Director of Griffis Residential, Mr. Griffis jointly oversees and directs the Funds' activities and implementation of the Investment Strategy.  Mr. Griffis serves on the investment committees for the Funds, as well as their advisory committees.  Mr. Griffis oversees the Funds' asset management activities, playing an instrumental role in the implementation of the Funds' capital improvement programs.  Mr. Griffis has key roles in acquisitions and dispositions as well as asset management. In addition to his responsibilities to the Funds, Mr. Griffis jointly oversees and directs Griffis Residential's day-to-day activities.

As Co-Founder and Managing Director of Griffis Residential, David Birnbaum is actively involved in the full range of the Company's investment and management activities.  Mr. Birnbaum oversees and directs the Funds' operations and implementation of its Investment Strategy. In addition to a primary role in acquisitions and dispositions, he has responsibility for the Funds' capital markets activities.  Mr. Birnbaum serves on the investment committee for the Sponsor's Funds and their advisory committees.  In addition to his responsibilities to the Funds, Mr. Birnbaum jointly oversees and directs Griffis Residential's day-to-day activities.

More than two decades ago, Mr. Birnbaum joined Mr. Griffis as one of the original partners in the Colorado Springs based real estate firm of Griffis/Blessing, Inc.  Prior to re-joining Mr. Griffis in the founding of Griffis Residential, Mr. Birnbaum co-founded and subsequently spent ten years as Chief Executive of a contract logistics company that managed over one million square feet of industrial real estate, becoming a leader in both of its core markets (Russia and the UK), and built an enviable reputation for results-oriented customer service.  In reaching nearly $100 million in revenues and employing over 1,000, the company earned a client list that included General Motors, Ford, Nestle, Mars, Coca-Cola, Tesco, Bristol Myers, and Merck among many others.

As Chief Operating Officer of Griffis Residential, Tom Barta is actively involved in Griffis Residential's investment analysis and oversees management activities.  In addition to a primary role in Griffis Residential's financial management, reporting, project finance, and administrative activities, Mr. Barta supports Griffis Residential's acquisition and disposition activities and manages day-to-day duties with respect to transaction closings.  Mr. Barta has an integral role in the same functional areas for the Funds and serves on the Funds' investment committee.

Prior to joining Griffis Residential, Mr. Barta served as the Corporate Controller for Westmoreland Coal Company, where he oversaw all financial and accounting functions at that publicly-traded company.  From 1994 - 2001, Mr. Barta was with the Denver office of KPMG, LLP, where he was a manager in the firm's assurance and advisory service practice.