Temerity Strategic Partners

Bruce Cohen

Co-Founder and Chief Executive Officer

Bruce is the Co-Founder and Chief Executive Officer of Temerity Strategic Partners and is responsible for leading all aspects of the company’s investment and capital related activities.

Prior to forming TSP, Bruce served as a Senior Advisor to Sterling Bay, where he was responsible for an array of strategic and capital related initiatives, particularly with respect to the firm’s $6 billion Lincoln Yards project. Bruce joined Sterling Bay after he was a Senior Managing Partner at Cortland, one of the country’s largest multifamily platforms, where he oversaw the firm’s capital markets, including the launch of its institutionally backed, discretionary fund vehicles. Bruce had previously founded Wrightwood Financial, a firm focused on providing growth capital to real estate owners and operators. Prior to Wrightwood Financial, Bruce was a Senior Partner in the real estate group of Ares Management, a leading global alternative asset management company. While at Ares, he also served as President and COO of Ares Commercial Real Estate, an externally managed publicly traded REIT, where he oversaw the firm’s IPO and more than $1 billion of investment activity. Bruce joined Ares in 2011 upon completing the sale of Wrightwood Capital’s operating platform to Ares. During his tenure, he retained oversight of the Wrightwood Capital portfolio, as well as its third-party funds. From its inception in 2004 until 2011, Wrightwood Capital was responsible for more than $4 billion of investment activity.

Bruce earned an MBA from the University of Chicago Booth School of Business and a BA from Tufts University. He has served on the boards of Wrightwood Capital, Erdman, a preeminent design- build firm focused on healthcare, and Cortland, a multi-family real estate investment and management firm. He is also a member of the real estate advisory boards of Northwestern University’s Kellogg School of Management and The University of Chicago Booth School of Business, as well as the President’s Council for Tufts University, and Chairman of the board of College Possible – Chicago, an organization focused on making college education possible for low-income students.

Jeffrey B. Citrin

Co-Founder and Executive Chairman

jbcitrin@temeritystrategic.com

Jeff is the Co-Founder and Executive Chairman of Temerity Strategic Partners. Jeff also serves as Managing Principal of Hectad Strategic Partners, a private investment firm that Jeff formed in 2021 to identify and provide strategic capital to early-stage real estate platforms and entrepreneurs.

Until December 2020, Jeff served as Vice Chairman/Senior Advisor of Square Mile Capital (now Affinius Capital), a private investment firm with a focus on real estate and related opportunities which Jeff founded in 2006. As of 2023, Square Mile managed over $10 billion of capital across various credit and equity funds for institutional investors. In 2012 USAA Real Estate acquired a significant minority interest in Square Mile and established a strategic partnership, with Jeff serving as Square Mile’s Co-Managing Principal through 2017. In December 2020, USAA RE purchased Jeff’s remaining ownership interest in Square Mile, and in March 2023, Square Mile and USAA RE merged and rebranded as Affinius Capital. Jeff continues his affiliation as a Senior Advisor to Affinius Capital and a member of the investment committees for Square Mile’s pre-2022 funds and vehicles.

Prior to founding Square Mile, Jeff served as President of Blackacre Capital Management which Jeff co-founded in 1994. Blackacre (now Cerberus Institutional Real Estate) is the dedicated real estate arm of global investment firm Cerberus Capital Management. Prior to co-founding Blackacre, Jeff was a Managing Director at Oppenheimer & Co. (now CIBC) where he served as head of the firm’s Commercial Mortgage Investment Unit. From 1991 through 1993, Jeff served as a Vice President at First Boston (now Credit Suisse) where he was a founding member of the firm’s Distressed Real Estate Principal Group. From 1986 through 1991, Jeff was a Vice President in the Real Estate Investment Banking Unit of Chemical Bank (now JP Morgan). From 1983 through 1986, Jeff was associated with the New York law firms of Proskauer Rose and Kelley Drye & Warren as an attorney in each firm’s real estate department.

Jeff graduated from Dartmouth College and received a JD from the Columbia University School of Law. Jeff currently serves as a member of the Boards of Directors of Tanger Outlets Inc. (NYSE: SKT) and Trinity Place Holdings Inc. (NYSE: TPHS); the Advisory Boards of MetaProp and V3 Capital Management; the Board of Advisors of the Hospital for Special Surgery (HSS); the Real Estate Roundtable and the Urban Land Institute (ULI); and is the Chair Emeritus of the Board of the Hood Museum of Art.

Wendy Freyer

Chief Operating Officer

wfreyer@temeritystrategic.com

Wendy is the Chief Operating Officer and outside general counsel for Temerity Strategic Partners where she is responsible for the firm’s operational needs including risk management, HR, IT and office functionality as well as general legal oversight.

Wendy is a founding partner of Drane & Freyer Limited (dfllaw.com) established in 2000 and which provides a full range of legal services relating to the real estate, financing, capital markets, compliance, venture and general organizational needs of its clients, including Temerity Strategic Partners. She also previously served as the general counsel, chief compliance officer and chief operating officer for other of the firm’s clients. Prior to co-founding Drane & Freyer Limited, she was a partner in the corporate and real estate departments at Faegre Drinker Biddle in Chicago (formerly Gardner Carton & Douglas).

Wendy earned a JD from Northwestern University School of Law and an AB cum laude from Smith College. She currently serves as an Executive Board member of Friends of Prentice Women’s Hospital in Chicago, as Co-Chair Project Development for The Wetlands Initiative and as a volunteer on behalf of Smith College, Colgate University and the Latin School of Chicago.

Josh Livingstone

Managing Director

jlivingstone@temeritystrategic.com

Josh is a Managing Director at Temerity Strategic Partners, where he is responsible for origination of new investments, deal execution and portfolio management.

Josh joined TSP from Equity International, Sam Zell’s investment firm focused on providing growth equity to real estate businesses outside the US. At Equity International, Josh was involved in transactions across the globe and in various real estate asset classes. He was responsible for the full deal lifecycle from sourcing, underwriting, diligence, negotiation and execution all the way through asset management and monetization. Josh served on the boards of portfolio companies in Brazil, India and Singapore and joined Equity International in 2014.

Prior to Equity International, Josh worked in HSBC’s investment banking group, focusing on diligence, valuation, and execution of complex, cross-border mergers and acquisitions involving real estate, infrastructure, consumer goods, and telecom companies.

Josh holds an MBA with honors from the University of Chicago Booth School of Business and a Bachelor of Arts from Brown University.

Jennifer Perkins

Managing Director

jperkins@temeritystrategic.com

Jennifer is a Managing Director at Temerity Strategic Partners where she is a member of the Investment Committee and responsible for capital formation and investor relations.

Prior to joining TSP, Jennifer led the defined contribution (DC) initiative for LaSalle Investment Management where she structured, managed, and led institutional sales for the LaSalle Real Estate Retirement Fund, a daily-valued, private real estate investment product for the US defined contribution market. She also served as co-chair of the inaugural LaSalle Women’s Network and initiated the launch of LWN’s mentorship program. Jennifer joined LaSalle in 2021.

Prior to LaSalle, Jennifer led institutional sales and marketing for private real estate in DC investment solutions for Principal Real Estate Investors. Jennifer joined Principal in 1995 and was a member of the private equity real estate team where she held a variety of positions with the majority of her time spent on the Portfolio Management team of Principal’s core ODCE fund. Additionally, Jennifer’s experience includes structuring fund offerings, acquisitions, dispositions, asset management, and operations.

Jennifer earned an MBA from the University of Iowa and a BA in Economics from Central College. She is an active member of Pension Real Estate Association (PREA).

Mitch Fenbert

Vice President

mfenbert@temeritystrategic.com

Mitch is a Vice President at Temerity Strategic Partners, where he supports originations across the firm’s investment initiatives, portfolio management, investor communications, and fundraising.

Mitch joined TSP from PGIM Real Estate, the investment management arm of Prudential Financial, Inc., where he spent nearly six years originating commercial debt investments across a spectrum of core, core plus, and high yield vehicles. Mitch focused on sourcing, underwriting, and executing debt transactions throughout the major U.S. markets and within all institutional real estate asset classes.

Mitch holds a Bachelor of Arts from the University of Georgia and is completing an MBA from the University of Chicago Booth School of Business (expected June 2024) where he serves as a chair of the Real Estate Group. He is also a Chartered Financial Analyst and an active member of the CFA Society of Chicago as well as the Urban Land Institute.

Timothy Thomas III

Vice President

tthomas@temeritystrategic.com

Tim is a Vice President at Temerity Strategic Partners, where he supports the firm’s investment, portfolio management, and investor relations functions.

Before joining TSP, Tim was a Finance Associate with Raider Hill Advisors, a private real estate investment and advisory firm. At Raider Hill, he was primarily focused on investments, investor relations, market research, and operations of client portfolios. Tim started his career in the retail sector, working in the Merchandising Division at Macy’s.

Tim holds an MBA from the University of Chicago Booth School of Business and a Bachelor of Arts in Architecture and Urban Design Studies from New York University.

Diego Bullon

Director of Accounting

dbullon@temeritystrategic.com

Diego Bullón serves as Director of Accounting for Temerity Strategic Partners where he is responsible for the firm’s accounting functions, including interface with the investment vehicles.

Diego has more than 25 years of experience with the real estate industry, functioning as a leader within numerous real estate investors, real estate developers, commercial operators and general contractors. He has experience with complex real estate ownership structures and complicated acquisition, disposition and financing transactions.

Diego holds a Master of Science in Taxation and BS in Accountancy from the University of Illinois Urbana- Champaign and is a certified public accountant.

Carrie Oser

Chief of Staff

coser@temeritystrategic.com

Carrie is Chief of Staff at Temerity Strategic Partners, where she is responsible for facilitating the smooth functioning of the office, establishing systems and processes, providing firmwide administrative support and serving as investor relations coordinator.

Carrie joined Temerity from YPO where she served as Executive Director, supporting the Board of Directors and managing a membership base of over 200 CEO’s. She was responsible for member recruitment, event management, policy implementation and maintaining the overall structure and culture of the organization, especially critical during the remote Covid-19 experience.