Speakers

2025 Americas Real Estate Client Conference

DWS Speakers

	Scott Arden Head of Real Estate Specialists Joined the company in 2025 with two decades of industry experience. Before joining DWS, he worked at Sentinel where he was responsible for North American capital raising efforts. Previously, he was a Managing Director at Hodes, Weill & Associates, a global placement and advisory firm. Degree in Economics from University of Maryland
	Terence Callahan Head of Real Estate Transactions, Americas Joined the Company in 2006 with 3 years of industry experience. Prior to joining DWS, Terence worked in market research at Sentinel Real Estate Corporation BA in History from Gettysburg College; MS in Real Estate from New York University
	Kareem Campbell Real Estate Transactions Officer Joined the Company in 2013 BS in Business Administration from Georgetown University
	Darrell Campos Lead Portfolio Manager, RREEF Core Plus Industrial Fund Joined the Company in 1998 with 6 years of industry experience. Prior to his current role, Darrell was lead portfolio manager for several Separate Account Clients. Before joining DWS, Darrell served as an acquisitions officer at McNeil Real Estate Management. Previously, he worked in real estate consulting and audit practice at Ernst & Young Kenneth Leventhal BS in Accounting and Business Administration from San Diego State University; MBA in Finance from Haas School of Business, University of California, Berkeley; Member of the National Association of Industrial and Office Properties (NAIOP)
	Kristin Catalano Lead Portfolio Manager Joined the Company in 2011 with 5 years of industry experience. Prior to joining, Kristin served as an Assistant Vice President at Inland Private Capital Corporation, where she was responsible for underwriting, financing and structuring real estate private placements. She began her career as a Financial Analyst at MB Real Estate BS in Finance from the University of Illinois at Urbana-Champaign; MBA from The University of Chicago Booth School of Business
	Jay DeWaltoff Head, US Real Estate Debt Joined the company in 2025 with 25 years of experience. Prior to joining DWS, he was Head of the Commercial Mortgage Loan Group within the Alternatives platform at J.P. Morgan Asset Management, where he oversaw a team responsible for sourcing, underwriting, and managing commercial mortgage loans in the U.S. Prior to joining J.P. Morgan, Jay was a Director at Citigroup, covering mortgage banking accounts and directing institutional clients. Bachelor of Business Administration from the University of Massachusetts at Amherst.
	John Ehli Lead Portfolio Manager, RREEF America II Joined the Company in 2005 with 16 years of industry experience. Prior to joining DWS, John served as a Senior Vice President at KBS Realty Advisors. Previously, he worked at First Interstate Bank and as a Principal at his own independent appraisal company BS in Business from Loyola Marymount University
	Chuck Fiedler Global Head of Alternatives Specialists Rejoined the Company in 2014 with 13 years of industry experience. Prior to his current role, Chuck held various positions in the Alternatives business at DWS, most recently as Head of Alternatives Specialist, Americas and prior to that Head of Strategy & Business Development of Liquid Real Assets. Earlier, he worked in client and consultant relations and as a senior product specialist and portfolio analyst for Liquid Real Assets BS in Finance from the University of Arizona; MBA in Finance and Economics from University of Chicago
	Alyssa Freeman Portfolio Manager, RREEF America II Rejoined the Company in 2023 with 12 years of industry experience and is a member of the RREEF America II dedicated portfolio management team, responsible for the Fund’s Eastern region. Prior to her current role, Alyssa worked in operations, asset and portfolio management through her experience at Boston Properties, PCCP, LLC and DWS, where she spent 2017-18 in our San Francisco office. BA from the University of California, Berkeley
	Laura Gaylord Head of Core Institutional Coverage Joined the Company in 2002 with 18 years of industry experience. Before her current role, Laura was head of core institutional for the Americas. Prior to this, she was Head of Pensions for the Americas, Global Client Group, and before that she served as Co-Head of Alternatives Investment Specialists for the Americas and Co-Head of Global Real Estate, Global Client Group. Before joining DWS, Laura was a managing director in client relations at PMRealty Advisors BS in Business Administration from University of Utah; Series 7, 24, and 63 Licenses
	Peter Heigl Real Estate Transactions Officer Joined the Company in 2017 with 14 years of industry experience. Before joining, Peter cofounded the investment management firm, WH&H Realty Advisors, focusing on developing and executing real estate investment strategies. Prior to that, he was involved in the underwriting, placement and closing of debt and equity investments on office, industrial, retail and multifamily assets at Northmarq Capital. He started his career as a financial analyst at May Center Advisors BS in Finance from Marquette University; MBA in Real Estate Finance & Investment from DePaul University - Kellstadt Graduate School of Business
	Todd Henderson Head of Real Estate, Americas Joined the Company in 2003 with 12 years of industry experience. Prior to his current role, Todd served as the Chief Investment Officer of RREEF Real Estate in the Americas. Before joining DWS, he was Director of Acquisitions for The J.E. Robert Company. Previously, he worked in restructuring and disposing of nonperforming real estate loans at First Gibraltar Bank BA from the University of North Texas; MBA from The Wharton School, University of Pennsylvania
	Patrick Kennelly Lead Portfolio Manager, US Real Estate Debt Joined the firm in 2017 with 19 years of industry experience. Prior to joining, Patrick managed the real estate credit portfolio at EquiTrust Life Insurance (CMLs and CMBS securities) on behalf of the firm’s General Account. BS in Finance from the Indiana University Kelley School of Business.
	Joshua Lenhert Senior Portfolio Manager, RREEF America II Joined the Company in 2002. Prior to his current role, Joshua served as a Portfolio Analyst for RREEF America REIT II and for one of the Company's largest real estate separate accounts BA in Economics and Psychology from University of California, Berkeley
	Catherine Minor Senior Portfolio Manager, RREEF Core Plus Industrial Fund Re-joined the Company in 2021 with 22 years of industry experience. Catherine started her career in construction and development and worked for RREEF in the Development Group from 2007 to 2012. Prior to rejoining, Catherine worked in portfolio management and asset management for PGIM Real Estate. BS in Civil Engineering from Brown University; MBA from Haas School of Business, University of California, Berkeley; Member of Urban Land Institute (ULI) and the National Association of Industrial and Office Properties (NAIOP)
	Michael Nigro CIO, Real Estate Americas Joined the Company in 2004 with 8 years of industry experience. Prior to his current role, Michael served as the Head of Value Add & Development in the Americas. Before joining DWS, he served as a Senior Manager at Mesirow Financial Real Estate, where he was responsible for large public-private partnership projects. He began his career as a Project Manager BS in Civil Engineering from University of Illinois at Urbana-Champaign; MBA in Finance (with Distinction) from DePaul University; Professional Engineer License
	Norton O’Meara Senior Portfolio Manager, RREEF America II Joined the Company in 1994 with 9 years of industry experience. Prior to joining DWS, Norton served as a Portfolio Manager at VMS Realty. Previously, he was a Development Manager at Fordham Company BS in Marketing from Boston College; MBA from Loyola University Chicago
	Michelle Reuter Head of Consultant Relations Joined the Company in 2015 with 12 years of industry experience. Prior to joining, Michelle served as Head of North American Real Estate Research and Consulting at Mercer Investment Consulting. BS in Finance from University of Florida; MBA in Finance from Loyola University Chicago; Series 7 and 63 Licenses
	Clemens Schaefer Head of Real Estate, Europe and Asia Pacific Joined the Company in 1998 and has more than 25 years of expertise in real estate investment management. During his career, Clemens was responsible for more than EUR 20 bn of transaction activity and has built several major separate account relationships with institutional clients for DWS. Prior to his current role, Clemens was Head of Portfolio Management and Chief Investment Officer for Real Estate in Europe. Clemens also serves as Chairman of the Real Estate Committee of the German Federal Association of Investment and Asset Management MS in Real Estate & Economics from University of Wisconsin-Madison and University of Freiburg; Real Estate Economist from EBS University of Business and Law, Oestrich-Winkel
	Charlotte Taylor Senior Relationship Manager, Core Institutional Joined the Company in 2021 with 9 years of industry experience. Prior to that, Charlotte worked as Chief of Staff at Green Generation. Before that, she served as a Director of Investment Relations at Cartica Management. Prior to that, she served as Vice President at Pacific Investment Management Company (PIMCO). She started her career as a Special Assistant, Chief of Staff's Office at U.S. Department of the Treasury BA in Government, East Asian Studies from Dartmouth College; MBA from Harvard Business School
	Jeff Trobbe Real Estate Transactions Officer Joined the company in 2015 with 5 years of industry experience . Prior to joining DWS, Jeff worked in Portfolio Management and in Fundraising capacities for all value-add vehicles and separate accounts at Stockbridge Capital Group. He began his career as a real estate valuations analyst at GE Capital BS in Business Administration from California State University, Chico
	John Vojticek Global Head of Liquid Real Assets Joined the Company in 1996. Prior to his current role, John served as a trader, analyst and portfolio manager. He was responsible for launching the Company's first listed infrastructure securities strategy and was previously the Head of the Listed Infrastructure Securities business BS in Business Administration from University of Southern California; Member of the National Association of Real Estate Investment Trusts
	Simon Wallace Co-Head of Global Real Estate Research Joined the Company in 2011. Prior to his current role, Simon served as Head of Europe Research and Strategy for Alternatives. Prior to joining DWS, he served as an economist for real estate research at Hammerson. Previously, Simon worked as an economist at the Centre for Economics and Business Research BSc in Politics and Economics and MSc in Economics from University of Bristol; Investment Management Certificate (IMC)
	Kevin White Co-Head of Global Real Estate Research Joined the Company in 2015 with 19 years of work experience, thereof 11 years in the finance industry. Prior to joining DWS, Kevin served in investment strategy and research at Cole Capital and at Property & Portfolio Research (PPR). Previously, he was an economist at International Data Corporation and a tax policy officer in the Department of Finance at the Government of Canada BA in Economics from Queen's University; MA in Economics from University of British Columbia; CFA Charterholder
	JJ Wilczewski Head of Coverage, Americas Joined the Company in 2014 with 18 years of industry experience. Prior to his current role, JJ was Head of Institutional Client Group, Americas and Global Head of Consultants. Before joining DWS, JJ was Head of Institutional Advisory Solutions and a member of the senior management team at Aon Hewitt. Earlier, he was Head of Global Business Development at Wilshire Associates. JJ started his career in Asset Management at Van Kampen Investments BA in Risk Management from Illinois Wesleyan University; Series 24, 7 and 63 Licenses
	David Zonavetch Co-Head of Real Estate Securities, Americas Joined the Company in 1998 with 2 years of industry experience. Prior to his current role, David was a portfolio manager in the Real Estate Securities Group BS in Finance from the University of Illinois at Urbana-Champaign; Certified Public Accountant

For Institutional Investor use only. Further distribution of this material is strictly prohibited. There is no assurance that investment objectives can be achieved. Past performance is not indicative of future results.

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries, such as DWS Distributors, Inc., which offers investment products, or DWS Investment Management Americas, Inc. and RREEF America L.L.C., which offer advisory services.

This material was prepared without regard to the specific objectives, financial situation or needs of any particular person who may receive it. It is intended for informational purposes only. It does not constitute investment advice, a recommendation, an offer, solicitation, the basis for any contract to purchase or sell any security or other instrument, or for DWS or its affiliates to enter into or arrange any type of transaction as a consequence of any information contained herein. Neither DWS nor any of its affiliates gives any warranty as to the accuracy, reliability or completeness of information which is contained in this document. Except insofar as liability under any statute cannot be excluded, no member of the DWS, the Issuer or any office, employee or associate of them accepts any liability (whether arising in contract, in tort or negligence or otherwise) for any error or omission in this document or for any resulting loss or damage whether direct, indirect, consequential or otherwise suffered by the recipient of this document or any other person.

The views expressed in this document constitute DWS Group’s judgment at the time of issue and are subject to change. This document is only for professional investors. This document was prepared without regard to the specific objectives, financial situation or needs of any particular person who may receive it. No further distribution is allowed without prior written consent of the Issuer.

Investments are subject to risk, including market fluctuations, regulatory change, possible delays in repayment and loss of income and principal invested. The value of investments can fall as well as rise and you might not get back the amount originally invested at any point in time.

Investment in real estate may be or become nonperforming after acquisition for a wide variety of reasons. Nonperforming real estate investment may require substantial workout negotiations and/ or restructuring. Environmental liabilities may pose a risk such that the owner or operator of real property may become liable for the costs of removal or remediation of certain hazardous substances released on, about, under, or in its property. Additionally, to the extent real estate investments are made in foreign countries, such countries may prove to be politically or economically unstable. Finally, exposure to fluctuations in currency exchange rates may affect the value of a real estate investment.

Key Risks of Real Estate Investments: Investing in Real Estate is subject to various risks, including but not limited to the following: Adverse changes in economic conditions including changes in the financial conditions of tenants, buyer and sellers, changes in the availability of debt financing, changes in interest rates, real estate tax rates and other operating expenses; Adverse changes in law and regulation including environmental laws and regulations, zoning laws and other governmental rules and fiscal policies; Environmental claims arising in respect of real estate acquired with undisclosed or unknown environmental problems or as to which inadequate reserves have been established; changes in the relative popularity of property types and locations; risks and operating problems arising out of the presence of certain construction materials; and currency/exchange rate risks where the investments are denominated in a currency other than the investor’s home currency.

An investment in real estate involves a high degree of risk, including possible loss of principal amount invested, and is suitable only for sophisticated investors who can bear such losses. The value of shares/ units and their derived income may fall or rise.

War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises, natural disasters and climate change and related geopolitical events have led, and, in the future, may lead to significant disruptions in U.S. and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the Fund and its investments.

Any forecasts provided herein are based upon DWS’s opinion of the market at this date and are subject to change dependent on the market. Past performance or any prediction, projection or forecast on the economy or markets is not indicative of future performance.

For Investors in Canada. No securities commission or similar authority in Canada has reviewed or in any way passed upon this document or the merits of the securities described herein and any representation to the contrary is an offence . This document is intended for discussion purposes only and does not create any legally binding obligations on the part of DWS Group. Without limitation, this document does not constitute an offer, an invitation to offer or a recommendation to enter into any transaction. When making an investment decision, you should rely solely on the final documentation relating to the transaction you are considering, and not the and not information contained herein. DWS Group is not acting as your financial adviser or in any other fiduciary capacity with respect to any transaction presented to you. Any transaction(s) or products(s) mentioned herein may not be appropriate for all investors and before entering into any transaction you should take steps to ensure that you fully understand such transaction(s) and have made an independent assessment of the appropriateness of the transaction(s) in the light of your own objectives and circumstances, including the possible risks and benefits of entering into such transaction. You should also consider seeking advice from your own advisers in making this assessment. If you decide to enter into a transaction with DWS Group you do so in reliance on your own judgment. The information contained in this document is based on material we believe to be reliable; however, we do not represent that it is accurate, current, complete, or error free. Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to change without notice. Any projections are based on a number of assumptions as to market conditions and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results. The distribution of this document and availability of these products and services in certain jurisdictions may be restricted by law. You may not distribute this document, in whole or in part, without our express written permission.

For EMEA / APAC / LATAM:

DWS is the brand name of DWS Group GmbH & Co. KGaA and its subsidiaries under which they do business. The DWS legal entities offering products or services are specified in the relevant documentation. DWS, through DWS Group GmbH & Co. KGaA, its affiliated companies and its officers and employees (collectively “DWS”) are communicating this document in good faith and on the following basis.

Individual country disclosures for Latin America can be found here.

This document is for information/discussion purposes only and does not constitute an offer, recommendation or solicitation to conclude a transaction and should not be treated as investment advice.

This document is intended to be a marketing communication, not a financial analysis. Accordingly, it may not comply with legal obligations requiring the impartiality of financial analysis or prohibiting trading prior to the publication of a financial analysis.

This document contains forward looking statements. Forward looking statements include, but are not limited to assumptions, estimates, projections, opinions, models and hypothetical performance analysis. No representation or warranty is made by DWS as to the reasonableness or completeness of such forward looking statements. Past performance is no guarantee of future results.

The information contained in this document is obtained from sources believed to be reliable. DWS does not guarantee the accuracy, completeness or fairness of such information. All third-party data is copyrighted by and proprietary to the provider. DWS has no obligation to update, modify or amend this document or to otherwise notify the recipient in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Investments are subject to various risks. Detailed information on risks is contained in the relevant offering documents.

No liability for any error or omission is accepted by DWS. Opinions and estimates may be changed without notice and involve a number of assumptions which may not prove valid.

DWS does not give taxation or legal advice.

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In Hong Kong, this document is issued by DWS Investments Hong Kong Limited. The content of this document has not been reviewed by the Securities and Futures Commission.

In Singapore, this document is issued by DWS Investments Singapore Limited. The content of this document has not been reviewed by the Monetary Authority of Singapore.

In Australia, this document is issued by DWS Investments Australia Limited (ABN: 52 074 599 401) (AFSL 499640). The content of this document has not been reviewed by the Australian Securities and Investments Commission.

061248-9 (05/2025) (05/2026)

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