Starwood Picks Gale as Vice Chairman

Starwood Capital officials say that Gale will work with other senior executives at its headquarters here on the firm's overall investment strategy and new business opportunities. Barry Sternlicht, chairman and CEO of Starwood Capital, notes that "we are so pleased to add someone with Barden's track record and extensive international investing experience to our strong executive team. From his days helping lead Salomon Brothers' European real estate investment banking team to his time overseeing the global portfolio at ABP, Barden has built a tremendous track record identifying and capitalizing on attractive investment opportunities."

Sternlicht adds that with the recent hiring of Bill Green, former global head of real estate capital at Wachovia Securities, to oversee its debt investment business, "we are working to build the industry's best team to take advantage of what we fell will be great opportunities."

Gale says that he is "particularly excited to join a company with such broad and deep knowledge of the real estate industry at a time when it has committed to build on its initial success in several regions around the globe, including Europe and Asia--two regions I know extremely well."

Prior to joining ABP, Gale was an investment banker with Nesbitt Burns Securities Inc. and Salomon Brothers Inc. in London. He has also served as a principal in a development company with investments in New York City and New Jersey, and worked as a practicing attorney, Starwood officials' state. During his nine-year tenure at ABP, he earned the 2007 Industry Achievement Award from the National Association of Real Estate Investment Trusts. Gale currently serves on the board of directors for the Pension Real Estate Association and is a member of the Property Investment Committee of the National Pension Reserve Fund of Ireland.