Brian Buchhagen

Brian Buchhagen is the President and founding principal of Pendo Investments, LLC ("Pendo"). Mr. Buchhagen oversees the acquisition, management, structuring and closing of all Pendo investments.

Prior to founding Pendo, Mr. Buchhagen was Co-founder and Managing Director of Legg Mason Real Estate Investors, Inc. ("LMREI"). At LMREI, Mr. Buchhagen was a member of the Investment Committee and responsible for originating and asset managing debt and equity investments. Mr. Buchhagen successfully led the investment of over $2.5 billion in debt and equity investments on behalf of fund investors, which included major pension funds, insurance companies, corporations and sovereign funds. Portfolio investments consisted of all major property types, including multifamily, hospitality, office, industrial, retail and student housing.

Prior to forming LMREI in 2000, Mr. Buchhagen was a Principal with Prudential Carbon Mesa (PCM), where he worked as a Managing Director in the structured finance division. At PCM, Mr. Buchhagen was responsible for pricing, structuring, underwriting and managing bridge and mezzanine loans. PCM's portfolio consisted of $432 million of value-add real estate debt investments.

Prior to PCM, Mr. Buchhagen was a Vice President for ING Barings Real Estate Finance (ING). At ING, he worked in both an acquisition and asset management capacity with assets in the United States and Canada. ING managed and invested in both real estate equity and sub-performing debt. The fund consisted of over $325 million of performing, non-performing and sub-performing debt in partnership with the FDIC.

Prior to ING, Mr. Buchhagen worked in both an asset management and acquisitions capacity at Lennar Partners, Inc. and the Morgan Stanley Real Estate Fund ("MSREF"). In that role, he was responsible for equity and debt investments in excess of $400 million and participated in the securitization of loan portfolios and "B" piece acquisitions. During Mr. Buchhagen's tenure, MSREF's portfolio consisted primarily of real estate equity and distressed debt, including assets acquired from Union Bank, Industrial Bank of Japan and Bank of California.

Matt Kardos

Matt Kardos is an Executive Vice President of Pendo Investments ("Pendo") and is responsible for sourcing, structuring and closing equity and debt investments.

Prior to joining Pendo, Mr. Kardos was a Vice President at Legg Mason Real Estate Investors, Inc. ("LMREI") and was responsible for sourcing, pricing, structuring, underwriting and closing equity and debt investments. At LMREI, Mr. Kardos led the originations team for the West and Southwest regions of the United States and was involved in the origination and closing of over $700 million in debt and equity transactions for property types including multi-family, retail, office, industrial and hospitality. Mr. Kardos' duties also included asset management and loan restructuring, in which he was actively involved in over $150 million in loan restructurings and managed over $400 million in performing and non-performing assets.

Mr. Kardos graduated magna cum laude from the University of Southern California, B.S. with a concentration in finance.

Clark Perkins

Clark Perkins is an Executive Vice President of Pendo Investments ("Pendo") and is responsible for sourcing, underwriting, and closing equity and debt investments.

Prior to joining Pendo, Mr. Perkins was an Associate Vice President at Legg Mason Real Estate Investors, Inc. ("LMREI") and was responsible for sourcing, pricing, structuring, underwriting and closing equity and debt investments. At LMREI, Mr. Perkins was involved in the origination and closing of over $175 million in debt and equity transactions for property types including multi-family, retail, office, industrial and hospitality. Mr. Perkins' duties also include asset management and loan restructuring, in which he was actively involved in over $150 million in loan restructurings and managed over $250 million in performing and non-performing assets.

Prior to LMREI, Mr. Perkins worked in land acquisitions for KB Home where he was involved in the sourcing, underwriting, and closing of over $150 million in vacant and in-fill land acquisitions for residential development. Mr. Perkins received Bachelor of Arts degrees in Business Economics and History from the University of California, Los Angeles.

Matt Nolan

Matt Nolan is a Vice President of Pendo Investments ("Pendo") and is responsible for investor relations, deal sourcing and the structuring and closing of equity and debt investments.

Prior to joining Pendo, Mr. Nolan was an associate at Somera Capital Management and was responsible for portfolio management, including hotels, apartments, office buildings and retail properties. Prior to Somera, Mr. Nolan was an associate at Mesa West Capital in the loan originations group and was involved in the sourcing, underwriting and closing of bridge loans across all property types. Previously, Mr. Nolan was an acquisitions analyst for the private merchant banking firm ScanlanKemperBard Companies ("SKB") where he performed property valuations, due diligence studies, development analyses, location strategy studies, and market research. Prior to joining SKB, while attending The University of Oregon, Mr. Nolan worked for Holliday Fenoglio Fowler, a commercial mortgage banking firm, where he performed valuation analysis and provided due diligence support.

Mr. Nolan received a B.A. in Business Administration with a concentration in finance from The University of Oregon.