Tom McDaniel, a Principal of Stonehill-PRM, has twenty-five years of real estate investment, portfolio management and capital markets experience. He has a strong working knowledge of the major US markets and utilizes an extensive network of industry relationships to generate timely investment opportunities for the firm and its co-investment partners. During the past 15 years, all of his investment activities have been directed towards formulating and executing opportunistic and value-added strategies encompassing all the major asset sectors. During this period, he has been responsible for in excess of $5 billion of new investments. Utilizing a variety of debt and equity capital structures, including entity financing, the realized returns on these investments have exceeded the targeted returns. Approximately 50% of this investment volume has been directed toward development transactions with a concentration in the residential sector. Mr. McDaniel has executed these investments in a principal capacity or as an advisor to a broad array of investor constituencies, including: high net worth domestic and offshore investors, public and corporate pension plans (separate accounts and co-mingled funds), retail investor syndicates, hedge funds and offshore government investment agencies.

Immediately prior to his joining the firm, Mr. McDaniel was a Partner in a New York-based, private equity firm in which he was a co-founder. This investment management business comprised the key members of a team that established a successful co-investment business within The Citigroup Private Bank. As the Managing Director in charge of investments, Mr. McDaniel was responsible for $2.4 billion in opportunistic and value-added transactions including a $500 million co-mingled fund created for domestic and offshore private investors of The Citigroup Private Bank. Previous associations include leading the Capital Markets Group at Transwestern Property Company, a prominent real estate operator, where he was responsible for formulating and executing the firm's investment programs and arranging the capital required in implementing these strategies. He has held senior investment positions at AEW Capital Management (Shareholder), and Merrill Lynch, where he was a principal in a series of proprietary real estate investment funds with $2 billion of equity capital.

Mr. McDaniel has been an active member and a frequent speaker at various industry forums, including the International Council of Shopping Centers and the Urban Land Institute (Council Member) and was a founding member of the Fairfield/Westchester County Urban Land Institute district.

Mr. McDaniel holds a B. A. in Economics from the University of Texas at Austin.