Financial Services >> Money Manager Interviews >> March 17, 2003

K.rosen / M.torres – Lend Lease Real Estate Securities Llc

MICHAEL A. TORRES is President of Lend Lease Rosen. He is a portfolio manager and is responsible for operations, client services and research. Mr. Torres joined the firm in February 1995. He has 15 years of real estate and securities research experience. Mr. Torres earned a BA in Architecture and an MBA from the University of California, Berkeley. Prior to joining Lend Lease Rosen, he was the Director of Real Estate Research and a portfolio manager for Wilshire Asset Management. Mr. Torres is a member of the Board of Directors of Manufactured Home Communities, Inc., and the Lend Lease Funds. In addition, he is a member of the New America Alliance and the Board of Advisors of the Corporate Governance Center at the School of Business at Kennesaw State College, and has been a mentor in the Toigo Foundation's Mentor Program. Profile
KENNETH T. ROSEN is Chief Executive Officer for Lend Lease Rosen Real Estate Securities LLC and directs real estate securities research. He formed Rosen Financial Services, the predecessor to the present firm, in 1993. Dr. Rosen has 32 years of real estate research experience focusing on quantitatively based regional economic and property market forecasts. He earned a PhD in Economics from MIT, and is presently Chairman of the Fisher Center for Real Estate and Urban Economics at the Haas School of Business at the University of California, Berkeley. Prior to his Berkeley position, Dr. Rosen was a Professor of Economics and Public Policy at Princeton University and a Senior Research Associate at the Joint Center for Urban Studies at Harvard and MIT. Dr. Rosen established and managed Salomon Brothers' real estate research program from 1985 to 1990. Profile
TWST: Would you give us an overview of Lend Lease Rosen and your

investment philosophy there?

Mr. Torres: Lend Lease Rosen is a $1.9 billion real estate

securities investment management firm