Founded in 1986, our parent company, Cohen & Steers Capital Management, Inc. is a leading manager of income-oriented equity portfolios that specializes in REIT common and preferred stocks, utility common stocks and preferred securities, serving both institutional and individual investors. Investment portfolios are available through a wide range of open-end and closed-end funds, as well as separate accounts. In early 1999, the firm formed Cohen & Steers Capital Advisors, LLC, a dedicated investment banking and corporate advisory group, as a complement to its established presence and extensive expertise in the real estate capital markets. This group provides high quality, value-added financial services, creative solutions, and advice, as well as access to capital, to a wide range of real estate intensive industries including hospitality, healthcare and real estate investment trusts ("REITs"). The professionals in charge of the effort have developed a lengthy track record of innovative capital market and mergers and acquisition transactions representing over 206 deals or $21.5 billion since 1990.