Our manager draws upon Colony Capital, LLC's vast experience and comprehensive expertise in identifying and capitalizing on investment opportunities in our target asset classes. In addition, we have access to Colony Capital, LLC's pipeline of potential investment opportunities, including those created by the current dislocation in the credit markets. We also have access through our manager to Colony Capital LLC's extensive long-term relationships – particularly those of Mr. Barrack, our Executive Chairman, and Richard B. Saltzman, our Chief Executive Officer and President – with a variety of governmental agencies, financial institutions, real estate borrowers and owners, developers and financial intermediaries, including primary dealers, leading investment and commercial banks, brokerage firms, public and private real estate investment companies, mortgage lenders and many strategic partners.

Our investment strategy is dynamic and flexible, which enables us to adapt to shifts in economic, real estate and capital market conditions and to exploit inefficiencies around the world. Consistent with this strategy, our investment decisions will depend on prevailing market conditions and may change over time in response to opportunities available in different economic and capital market conditions. We believe this approach allows us to identify undervalued opportunities in all market cycles, often before other investors identify such opportunities. We believe there are abundant opportunities among our target assets that present attractive risk-return profiles, which we will pursue with utmost commitment, integrity and with interests aligned to create an incentive to maximize returns for our stockholders.