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Bruce 5646

As Managing Shareholder of ORIX Real Estate Equities/Rubloff, Mr. Schultz led their development, acquisition and financing and asset management activities. He had line authority on all projects on 100 N. Riverside (Chicago), 123 N. Wacker (Chicago), San Mateo Plaza (San Mateo, CA) and 1401 H Street NW/ City Center (Washington, DC). During his nine-year tenure he obtained $725 million in debt and equity financing, developed/acquired $700 million of office, retail, apartment and industrial properties, and sold $645 million of projects resulting in pretax profits of $135 million.

His three major development projects in downtown Chicago were The Ritz-Carlton Residences on North Michigan Avenue, 123 North Wacker Drive, an award-winning 36-story office tower containing 525,000 square feet and the Boeing International World Headquarters at 100 N. Riverside, a 36-story office building containing 1 million square feet. In addition, he was responsible for the redevelopment of Burnham Centre at 111 W. Washington Street, a 22-story, 611,000 square foot office and retail property.

Prior to joining ORIX/Rubloff, Mr. Schultz was a Senior Executive with New York Life Insurance Company and head of the Chicago Regional Investment Office. His responsibilities included the 11-state mid-western region for equity and debt production, portfolio management, and dispositions. During his tenure, Mr. Schultz increased the New York Life regional portfolio from $750 million to over $2 billion. While successfully staffing and managing the Chicago office, Mr. Schultz structured financing for notable projects including the Pillsbury Center in Minneapolis; the Chicago Board of Options Exchange (CBOE) in downtown Chicago; Eaton Center and National City Center in Cleveland; the Tri-State International Office Center, and AT&T Plaza in suburban Chicago.

Before joining New York Life Insurance Company, Mr. Schultz was a partner with a privately held real estate appraisal and consulting firm in Cleveland, Ohio. He is a graduate of Muskingum University in Ohio with a B.A. in Business Administration/Economics.