JUNE 21, 2016

ASB Promotes Braithwaite to Senior VP and Allegiance Fund Portfolio Manager, Bohman to Vice President

WASHINGTON, DC – ASB Real Estate Investments announced today that Lawrence Braithwaite has been promoted to Senior Vice President and Portfolio Manager of the ASB Allegiance Fund, the company’s flagship $6.2 billion, open-end core vehicle for institutional investors. Braithwaite had been Assistant Portfolio Manager of the fund for the past five years under Robert Bellinger, ASB’s President and CEO, who will remain actively involved in fund management and responsible for key decisions as Executive Portfolio Manager. The Allegiance Fund, ASB’s sole core vehicle, holds premier-quality office, retail, apartment, and industrial investments in urban markets across the U.S.

ASB also has promoted David Bohman from Senior Investment Associate to Vice President, responsible for valuing, underwriting, and due diligence of potential real estate acquisitions for the Allegiance Fund and ASB’s Meridian Funds, the company’s closed-end value-creation fund series for institutional investors.

Bellinger said: “These promotions recognize the highly collaborative and dedicated team-oriented contributions of Larry and David in producing results for our clients. Larry has been instrumental in the growth and success of the Allegiance Fund, and I look forward to continuing to work closely with him to meet our performance objectives.”

Braithwaite assumes a wide range of responsibilities for the Allegiance Fund, including oversight of risk management, portfolio construction, and shaping investment strategy as well as helping direct asset management initiatives including leasing. As a Senior Vice President, he has been named to ASB’s investment committee, which provides internal approval for new acquisitions and dispositions. Braithwaite joined ASB in 2006 from Morgan Stanley’s Investment Banking Division and became Vice President and Assistant Portfolio Manager of the Allegiance Fund in 2011. He received a BA with distinction from the University of North Carolina at Chapel Hill where he was a Morehead-Cain Scholar and earned an MBA from Harvard Business School.

Bohman joined ASB in 2011 as an Investment Analyst from Wells Fargo’s Real Estate Banking Group where he worked on the origination of construction, acquisition and term loans for New York City area developers and investors. He received a BS in Economics from the Wharton School at the University of Pennsylvania with concentrations in real estate and finance.

About ASB Real Estate Investments
ASB Real Estate investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm, managing $6.6 billion* in gross assets under management for over 340 institutional clients. Headquartered in Washington DC, ASB invests in major urban markets across the country, concentrating in office, multifamily, retail and industrial properties. ASB manages the ASB Allegiance Real Estate Fund, its sole vehicle for core investing; the ASB Meridian Real Estate Fund, a low-leverage value creation vehicle; and a development separate account.

* as of March 31, 2016

The information provided in the release does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities.