KPMG - IERE

Mark Long* – Director, Strategy, Research and Forecasting
Mark joined the Investment Manager in October 2003 and has extensive experience in developing
investment processes and formulating portfolio strategy having held similar positions at Gatehouse
Investment Management, Aberdeen Property Investors and Celexa Real Estate Investment
Management. Mark is a member of the Investment Committee for Insight Foundation Property Trust
Limited. Mark worked for a number of years in strategy and research for SPP a large Swedish
pension and life company with approximately A5 billion of property invested across Europe. Mark
was a key member of the team responsible for developing their pan-European investment process and
helped to develop pan-European forecasts and investment strategies. The implementation of their
investment process saw the demerger of SPP’s European property asset management business to form
Celexa Real Estate Investment Management, where Mark became Head of UK research. In this role,
in addition to his UK responsibilities he also sat on the pan-European investment strategy committee.
The main focus of this work is formulating ‘‘top down’’ investment strategy and controlling portfolio
risk for both domestic UK and Continental European markets. He is an economist by training
having gained his first degree at Swansea University before completing a second degree in Property
Investment at City University. He is an FSA Approved Person.
Veronica Gallo-Alvarez* – Director, European Property
Veronica joined the Investment Manager in September 2005 to provide senior support to the
European property business in implementing its acquisitions and investment management programme.
She was formerly a Vice President at Harbert Management Corporation, being primarily responsible
for the asset management of the European Property Fund. Prior to this, she was an analyst at the
European real estate research group of Security Capital based in Brussels. She started her career at
the Business Consulting departments of Arthur Andersen and later, GOPA Consultants in Brussels.
She holds a degree from Universidad Autónoma of Madrid (Spain) and an MA in Economics from
Catholic University of Louvain (Belgium). Her mother tongue is Spanish and she is fluent in English
and French.
Marius Levinger – Associate Director, European Property
Marius joined the Investment Manager in September 2006 to assist in the acquisition and
management of Continental European assets. Prior to this Marius was an associate in the Structured
Finance and Investment Banking team at Hypo Real Estate Bank International in London where he
undertook underwriting analysis for loans in respect of real estate assets in Germany and other
European countries. He began his career at Internationales Immobilien Institut GmbH (a subsidiary
of HVB) in Munich where he was responsible for over A200 million of acquisitions in France and
Belgium. Marius has a degree in Business Management gained in Munich and has studied in the UK
and USA. His mother tongue is German and he speaks English and French.
Jasper Gilbey – Assistant Fund Investment Manager, European Property
Jasper joined the Investment Manager in September 2004 as an Assistant Fund Manager, initially
focusing on UK retail property investment prior to joining the European business in September 2005.
Jasper supports the Continental European team in deal sourcing, transaction management, deal
execution and investment management. Prior to joining Invista, Jasper completed a degree in Built
Environment and Investment Studies at the University of the West of England, which included one
year working for Jones Lang LaSalle in Paris and a summer internship with Atis Real. Jasper is
currently studying for a Masters degree at the College of Estate Management with a view to gaining
accreditation from The Royal Institution of Chartered Surveyors. He is fluent in French.
Investment Management Agreement
The Company and the Investment Manager have entered into the Investment Management
Agreement, a summary of which is set out in paragraph 8.2 of Part XII of this Prospectus, under
which the Investment Manager will be entitled to a base management fee of 0.95 per cent. per annum
of the Adjusted Gross Assets. This base management fee is payable monthly in arrear subject to a
recalculation provision designed to allocate any growth in Adjusted Gross Assets from quarter to
quarter on a straight line basis. The Investment Management Agreement also provides for the
Investment Manager to be reimbursed by the Company for costs and expenses incurred by it,
including (without limitation) all costs and expenses relating to accounting, tax, due diligence, legal,
surveyors, building contractors, estate managers and other properly appointed service providers.
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