Kornfeld joined GMAC Commercial Mortgage Corp. (GMACCM), the investment advisory firm's parent company, in January 2001 as EVP and director of strategic planning and mergers and acquisitions. In all, he has 20 years of experience in investment banking, primarily focused on mortgages, with Salomon Brothers and Lehman Brothers.

Under his direction GMACCM acquired CapMark Services and several other commercial real estate businesses from Philadelphia-based Lend Lease Real Estate Investments, significantly expanding its nationwide network of loan origination offices and enhancing its international and advisory operations. Among the businesses acquired from Lend Lease were debt advisory units that added several prominent financial institutions and pension fund advisors to GMACIA's client base. Launched just three years ago, GMACIA closed 2003 with a total of $9.2 billion in assets under management.

Joyce brings 37 years of experience with Deloitte & Touche to Brandywine's board. For 10 years he was managing partner of Deloitte's Philadelphia office, and, in 1995, became its managing partner for New England. He serves on the board of Heritage Property Investment Trust and has been on the boards of numerous civic, cultural and educational institutions in New England and Philadelphia.