Starwood Real Estate Securities, L.L.C. (“SRES”), is an SEC registered investment advisor that focuses in real estate-related securities.

SRES seeks to achieve high risk-adjusted returns through prudent stock selection while targeting a low level of volatility and limited correlation to the markets. Investments are selected by absolute and/or relative value, and the resulting positions are sized by their risk/reward potential and hedged by similar common stock, exchange traded funds, and options.

SRES is an affiliate of Starwood Capital Group (“Starwood”), a privately held global real estate investment firm. SRES leverages the real estate and capital markets expertise, global network of operating partnerships, research capabilities and transactional knowledge of Starwood’s CEO, Barry Sternlicht, and its employees to support the various positions held in the portfolio.