Management

John Z. Kukral

John Z. Kukral, President and Chief Executive Officer of Northwood Investors LLC, has been an active real estate investor for over 41 years. Mr. Kukral serves as the Chairman of the Investment Committee and approves all commitments by the firm. During his career, Mr. Kukral has been involved in over $43 billion of real estate transactions worldwide ranging from office buildings to shopping centers and hotels to residential assets.

Mr. Kukral started his career at JMB Realty Corporation in 1982 and, prior to founding Northwood in 2006, he was most recently (1994 to 2005) with Blackstone Real Estate Advisors where he served as President and CEO from 2002 until his departure in 2005. During his tenure, Blackstone Real Estate Advisors grew to become one of the largest and most successful real estate managers globally. He served as a Senior Managing Director of The Blackstone Group from 1997 through 2005 and was a member of the firm’s Executive Committee from 2000 through 2005.

As a Co-Head, and then as President and CEO of the group, Mr. Kukral was responsible for overseeing all investment activities of Blackstone’s real estate funds including: (i) the completion of over $33 billion of real estate acquisitions and the related financings, restructurings, operations and sales; (ii) the creation of five real estate investment partnerships with approximately $5.8 billion in discretionary investment capital; and (iii) the day-to-day management of Blackstone’s 70-person professional, financial reporting, and support staff. In this capacity, Mr. Kukral worked closely with Stephen A. Schwarzman, Chairman and CEO of The Blackstone Group and John G. Schreiber, Partner and Founder of Blackstone Real Estate Advisors.

During Mr. Kukral’s tenure at Blackstone, the BREP Funds invested approximately $5.8 billion of equity capital in over 160 separate transactions, achieving a Gross Levered IRR of 37% and a 2.2x multiple on invested capital, in each case with respect to realized and partially realized investments of the BREP Funds as of the time of Mr. Kukral’s departure from Blackstone on December 31, 2005. Of the approximately $3.5 billion invested in realized transactions during Mr. Kukral’s tenure, he incurred only $40 million of losses, representing 1% of invested capital. Blackstone’s historical investment performance of the BREP Funds during Mr. Kukral’s tenure is summarized at the end of the document.

Mr. Kukral received his undergraduate degree from Northwestern University, where he currently serves as a trustee on the school’s board, and he received his M.B.A. from Harvard Business School.

Jacob Reingardt

Jacob Reingardt is Chief Financial Officer and is responsible for all financial activities including financial reporting, accounting, treasury, and tax structuring and compliance. Mr. Reingardt joined Northwood in 2015 in the New York office as the Fund Controller and relocated to Denver shortly thereafter. Mr. Reingardt transitioned to his current role as CFO at the start of 2019.

Prior to joining Northwood, Mr. Reingardt was at PricewaterhouseCoopers in their New York, London, and Denver offices. Mr. Reingardt was responsible for managing financial statement audits for a diverse group of real estate private equity clients and publicly traded REITs while at PwC. Mr. Reingardt is a licensed Certified Public Accountant in New York and received a B.S. in Business Administration, cum laude, from Colorado State University.

Michael Profenius

Michael Profenius is Chief Operating Officer at Northwood and is responsible for overseeing fund accounting and reporting, investor relations, asset management, compliance, tax, information technology and human resources.

Mr. Profenius has 41 years of experience in real estate investments, capital raising and operations. Prior to joining Northwood, he was a Senior Partner at Grove International Partners LLC. During his tenure at Grove, he held several senior management positions including Head of Business Development, a role responsible for generating new investment opportunities globally, Chief Operating Officer and Head of Capital Raising. Mr. Profenius also served on the Investment Committee of Alpine Grove Partners LLP, an affiliate of Grove. Prior to joining Grove, Mr. Profenius was a Managing Director in the Real Estate Group at Warburg Pincus LLC. While at Warburg Pincus, Mr. Profenius invested in a broad variety of commercial and residential real estate and hotel companies and properties in the United States, Europe, and Asia, with a primary focus on China. Prior to joining Warburg Pincus, Mr. Profenius was Co-Head and Managing Director of the Global Investment Banking and Hospitality Group of Merrill Lynch. During his 18-year career at Merrill Lynch, Mr. Profenius completed more than 75 equity offerings, which raised approximately $19 billion of capital for public and private real estate companies, including 20 initial public offerings, more than 60 advisory transactions for real estate, hospitality and finance companies aggregating in excess of $70 billion in value and numerous on-balance sheet loans and equity investments exceeding $10 billion in value. Mr. Profenius spent the last four years of his career at Merrill Lynch residing in London. He began his career at Dean Witter Realty in 1982.

Mr. Profenius received a B.A. in economics and political science from Yale University.