Board Of Trustees
B. Wayne Hughes—Non-Executive Chairman
Mr. Hughes has served as our Non-Executive Chairman since
October 2012. In June 2011, Mr. Hughes co-founded AH LLC, a private company formed to capitalize on the
dislocation in the single-family home market and an affiliate of our company. In 1972, Mr. Hughes founded Public
Storage (NYSE: PSA), one of the nation’s largest REITs, where he served as a Trustee from 1980 to 2012 and
retired as Chief Executive Officer in November 2002. In 2006, Mr. Hughes founded ACE, a real estate management
company with 62 retail and office properties across California and Hawaii. Mr. Hughes earned a B.A. in Business
from the University of Southern California and is qualified to serve as a Trustee due to his more than 40 years of
real estate, financial and operational expertise, including the organization of Public Storage in 1972 and its
management until 2002.
Dann V. Angeloff—Trustee
Mr. Angeloff has served as a Trustee since November 2012. Mr. Angeloff founded The Angeloff Company, a corporate financial advisory firm advising top management of small and midsized companies in the areas of capital sourcing, merger-acquisition and other financial services and has served as its President since 1976. He is and has been active in the capital markets as an investment banker and corporate financial advisor for over 50 years and has been responsible for over 80 financial transactions with a major emphasis in initial public offerings. He currently serves on the board of Electronic Recyclers International, Inc. Within the last five years, Mr. Angeloff has served on the following boards: Bjurman, Barry Fund, Inc., Nicholas-Applegate Growth Equity Fund, Public Storage and SoftBrands, Inc. Mr. Angeloff received a B.S. in Finance and an M.B.A. in Finance from the University of Southern California. Mr. Angeloff is qualified to serve as a Trustee due to his investment banking background and knowledge of capital markets and his public company board experience. In addition, he is one of the founders of the National Association of Corporate Directors, or NACD, and former Chairman and President and currently chairman emeritus of the Southern California NACD Chapter and brings his extensive knowledge of corporate governance practices to our board of trustees and to our Nominating and Corporate Governance Committee, which he chairs.
John “Jack” Corrigan—Chief Operating Officer and Trustee.
Mr. Corrigan has served as a Trustee and our
Chief Operating Officer since October 2012. Since November 2011, Mr. Corrigan has been the Chief Operating
Officer of our former manager. From 2006 to 2011, Mr. Corrigan was the Chief Executive Officer of A & H
Property and Investments, a full service leasing and property management company in Los Angeles County with a
portfolio of residential, retail, industrial and office properties where he was responsible for acquisitions,
dispositions, development, financing and management operations. Mr. Corrigan served as Chief Financial Officer of
PS Business Parks Inc. (NYSE: PSB), a publicly-traded REIT specializing in office and industrial properties
throughout the United States, from 1998 to 2004. Prior to his tenure at PS Business Parks, Mr. Corrigan was a
partner in the accounting firm of LaRue, Corrigan & McCormick where he was responsible for the audit and
consulting practice of that firm. Mr. Corrigan started his career at Arthur Young and Company (now a part of
Ernst & Young LLP) and also served as Vice President and Controller of Storage Equities, Inc. (a predecessor entity
to Public Storage). Mr. Corrigan earned a B.S. in Accounting from Loyola Marymount University. He is a Certified
Public Accountant licensed in the state of California and a California-licensed real estate broker. Mr. Corrigan is
qualified to serve as a Trustee due to his extensive real estate, financial and operational experience with public and
Matthew J. Hart—Trustee.
Mr. Hart has served as a Trustee since November 2012. Mr. Hart served as
President and Chief Operating Officer of Hilton Hotels Corporation, or Hilton, a global hospitality company, from
May 2004 until the buyout of Hilton by the Blackstone Group in October 2007. He also served as Executive Vice
President and Chief Financial Officer of Hilton from 1996 to 2004. Prior to joining Hilton, Mr. Hart served as the
Senior Vice President and Treasurer of the Walt Disney Company (NYSE: DIS), Executive Vice President and
Chief Financial Officer for Host Marriott Corp., Senior Vice President and Treasurer for Marriott Corporation and
Vice President, Corporate Lending, for Bankers Trust Company. Mr. Hart currently serves on the board of directors
of US Airways Group, Inc. (NYSE: LCC), Air Lease Corporation (NYSE: AL) and Great American Group, Inc.
Mr. Hart received a B.A. in Economics and Sociology from Vanderbilt University and an M.B.A. in Finance and
Marketing from Columbia University. Mr. Hart is qualified to serve as a Trustee due to his financial expertise, risk
management experience, extensive experience as a senior operating and finance executive in developing strategies
for large public companies, his mergers and acquisitions experience, and his service as a public company director
James H. Kropp—Trustee.
Mr. Kropp has served as a Trustee since November 2012. Since 2009, Mr. Kropp
has been the Chief Investment Officer of SLKW Investments LLC, a family investment office and the successor to
i3 Funds LLC. Since 2011, he has been a Manager of Microproperties LLC, an investor and asset manager of net
leased restaurant properties. From 2009 until its sale in February 2012, he served as Interim CFO of TaxEase LLC, a
tax lien finance company. Mr. Kropp was Senior VP of Investments for Gazit Group USA, Inc., a real estate
investor, from 2006 to December 2008. Since 1998, Mr. Kropp has served as a director of PS Business Parks Inc.,
and is the Chair of its Compensation Committee and a member of its Nominating/Corporate Governance
Committee. Since its founding in 2011, he has been a director of Corporate Capital Trust, a registered investment
company, and Chair of its Audit Committee and a member of its Nominating/Corporate Governance Committee. He
was a director of Trustreet Properties Inc. and its predecessor, US Restaurant Properties Inc., from 2002 through
February 2007 and served as Chairman of its Audit Committee and Compensation Committee and was a member of
the Nominating and Corporate Governance Committees during his tenure. From May 2007 until its sale in February
2010, Mr. Kropp was a Trustee as well as Chairman of the Audit Committee and a member of the Governance and
Independent Trustee Committees of The CNL Funds, a registered investment company. Mr. Kropp earned a B.B.A.
in Finance from St. Francis College. He completed the CPA preparation program at New York University and was
licensed as a CPA while at Arthur Young and Company (now a part of Ernst & Young LLP). Mr. Kropp is qualified
to serve as a Trustee due to his knowledge of investment banking and capital markets, specializing in real estate
securities, his extensive experience with real estate businesses, including other REITs, and his experience as a
member of several public company boards.
David P. Singelyn—Chief Executive Officer and Trustee.
Mr. Singelyn has served as a Trustee and our Chief
Executive Officer since October 2012. Mr. Singelyn co-founded AH LLC with Mr. Hughes in June 2011 and served
as the Chief Executive Officer of our former manager until the Management Internalization. From 2003 through
April 2013, Mr. Singelyn was Chairman and President of Public Storage Canada, a real estate company previously
listed on the Toronto Stock Exchange, where he built a management team that restructured the operations of the
company, including building an operations team and installing accounting and operating computer systems. In 2010,
Mr. Singelyn facilitated the restructuring of the ownership entity that was traded on the Toronto stock exchange
resulting in the company “going private.” In 2005, Mr. Singelyn, along with Mr. Hughes, founded ACE, and he now
serves as a co-manager of ACE. Mr. Singelyn is also a director of the William Lawrence and Blanche Hughes
Foundation, a non-profit organization dedicated to research of pediatric cancer. Mr. Singelyn served as the Treasurer
for Public Storage, from 1989 through 2003, where he was responsible for equity capital raising, debt issuances,
corporate cash management and financial management for Public Storage and its subsidiary operations. During his
tenure, and with his direct involvement, Public Storage raised funds through the public and institutional
marketplaces, including from a number of state pensions. Mr. Singelyn started his career at Arthur Young and
Company (now a part of Ernst & Young LLP) and also served as Controller of Winchell’s Donut Houses where he
was responsible for all accounting functions. Mr. Singelyn earned a B.S. in Accounting and a B.S. in Computer
Information Systems from California Polytechnic University—Pomona and is qualified to serve as a Trustee due to
his extensive real estate, financial and operational experience with private and public companies.
Mr. Swann has served as a Trustee since November 2012. Mr. Swan has been the
President of Swann, Inc., a marketing and consulting company, since 1976 and the Managing Director of the LS
Group which is a third party capital fundraising firm, since 2011. Since 1979 Mr. Swann has been the National
Spokesman for Big Brothers Big Sisters of America, served on their National Board from the mid-1980’s to 2011
and was Chairman of the Board from 1993 to 1995. Mr. Swann also played 18 seasons in the National Football
League (NFL) for the Pittsburgh Steelers, was selected to three Pro Bowls, won four Super Bowls, and was inducted
into the Pro Football Hall of Fame in 2001. After his NFL career, Mr. Swann engaged in television sports
broadcasting for ABC Sports. Mr. Swann is a board member of H.J. Heinz Co. (NYSE: HNZ), Caesar’s
Entertainment Corp. (NASDAQ:CZR) and Hershey Entertainment and Resorts. Mr. Swann earned a B.A. in Public
Relations from the University of Southern California and is qualified to serve as a Trustee due to his media and
public relations experience, consumer awareness skills, diverse business and political background and managementlevel decision-making experience.
Kenneth M. Woolley—Trustee.
Mr. Woolley has served as a Trustee since November 2012. He is the founder
of Extra Space Storage, Inc. (NYSE: EXR), or Extra Space, a self-storage REIT, and he currently serves as its
Executive Chairman. He served as Chairman and Chief Executive Officer from its inception in 2004 through March
2009 and was formerly Chief Executive Officer of Extra Space’s predecessor. From 1994 to 2002, he was an active
participant on Storage USA’s Advisory Board. From 1983 to 1989 he acted as a preferred developer for Public
Storage, Inc. Mr. Woolley has also developed over 9,000 apartment units in 32 projects and acquired over 15,000
apartment units in the past 25 years and is the founder of several companies in the retail, electronics, food
manufacturing, airline and natural resources industries. Mr. Woolley received a B.A. in Physics from Brigham
Young University and an M.B.A. and Ph.D. in Business Administration from Stanford University, Graduate School
of Business. Mr. Woolley is qualified to serve as a Trustee due to his extensive experience with public companies,
including his executive experience with Extra Space, and experience with multi-family properties.