STRATEGIES

Listed Real Estate

Global listed real estate may play an integral role in a multi-asset class portfolio for both offensive and defensive reasons. Global listed real estate can offer international diversification, generate a relatively high level of current income and provide liquidity. It may also reduce volatility and provide low correlation with other asset classes as well as diversification across continents, countries, and sectors. CenterSquare’s strategy is to invest in a diversified portfolio of global real estate securities identified as undervalued vs. their peers to seek high, risk-adjusted returns for our clients.

CenterSquare also believes that a responsible approach to Environmental, Social, and Governance (ESG) issues makes good business sense and enhances shareholder value. Please refer to the CenterSquare ESG Policy for more information about the incorporation of ESG considerations into our listed real estate investment process.

  • BENCHMARK
  • FTSE EPRA Nareit Developed Index
  • INCEPTION DATE
  • Dec 2006

PORTFOLIO MANAGEMENT

Dean Frankel, CFA

Managing Director

Head of Real Estate Securities

YEARS WITH FIRM

23

INDUSTRY EXPERIENCE

23




Mr. Frankel is Managing Director and Head of Real Estate Securities at CenterSquare Investment Management. He is responsible for management of the firm’s proprietary research process.  In addition, Mr. Frankel analyzes and interprets implications of major events and economic trends while managing the daily operations of the real estate securities portfolios. Mr. Frankel also dedicates a significant portion of his time to on-site visits with companies and property tours in order to make real time assessments of a market’s health. Prior to joining CenterSquare in 1997, Mr. Frankel ran a retail distribution business.  Mr. Frankel received a B.S. in Economics from the University of Pennsylvania’s Wharton School of Business. He is a CFA charterholder and member of the CFA Institute.

Real estate securities such as REITs and REOCs can play an integral role in a multi-asset class portfolio for both offensive and defensive reasons. Real estate securities can offer diversification, generate a relatively high level of current income and provide liquidity. They also can reduce volatility and provide low correlation with other asset classes as well as diversification across regions and sectors. CenterSquare’s strategy is to invest in a diversified portfolio of real estate securities identified as undervalued vs. their peers to seek high, risk-adjusted returns for our clients.

CenterSquare also believes that a responsible approach to Environmental, Social, and Governance (ESG) issues makes good business sense and enhances shareholder value. Please refer to the CenterSquare ESG Policy for more information about the incorporation of ESG considerations into our listed real estate investment process.

  • BENCHMARK
  • FTSE Nareit Equity REITs Index
  • INCEPTION DATE
  • Jul 1995

PORTFOLIO MANAGEMENT

Dean Frankel, CFA

Managing Director

Head of Real Estate Securities

Eric Rothman, CFA

Portfolio Manager

Real Estate Securities

YEARS WITH FIRM

23

INDUSTRY EXPERIENCE

23




Mr. Frankel is Managing Director and Head of Real Estate Securities at CenterSquare Investment Management. He is responsible for management of the firm’s proprietary research process.  In addition, Mr. Frankel analyzes and interprets implications of major events and economic trends while managing the daily operations of the real estate securities portfolios. Mr. Frankel also dedicates a significant portion of his time to on-site visits with companies and property tours in order to make real time assessments of a market’s health. Prior to joining CenterSquare in 1997, Mr. Frankel ran a retail distribution business.  Mr. Frankel received a B.S. in Economics from the University of Pennsylvania’s Wharton School of Business. He is a CFA charterholder and member of the CFA Institute.

YEARS WITH FIRM

12

INDUSTRY EXPERIENCE

24




Mr. Rothman serves as Portfolio Manager for CenterSquare Investment Management’s real estate securities group. He joined the firm in 2006, and is responsible for market research, sector allocations, research, and financial modeling across the U.S. real estate securities universe. Mr. Rothman also manages a REIT preferred stock separate account mandate. He has over 20 years of REIT and real estate investment experience. Prior to joining CenterSquare, he spent more than six years as a sell-side REIT analyst at Wachovia Securities and three years as an analyst at AEW Capital Management, LP. Mr. Rothman graduated cum laude from Boston University with a B.A. in Economics, International Relations and French. He is a CFA charterholder and member of the CFA Institute.