Devon Self Storage Company Overview

Headquarters:  Emeryville, CA (San Francisco Bay Area)

Company Founded: 1988
Total Employees: 100

Senior Management:

• Ken Nitzberg, Chairman & CEO
• Angus Goldie-Morrison, SVP - U.S. Operations
• Jeffrey Humphrey, SVP - Asset Management
• Greg Mackay, SR VP- Acquisitions /Value Added Services
• Kim Johnson, VP - Due Diligence
• Dayle Marier, VP - Controller

Assets:

• Devon was founded in 1988
• Devon's senior management team has worked together for an average of 15 years
• Prior experience together managing $2 billion of real estate assets
• Devon is focused on the development of new sites and the conversion of well-located big box and/or multi-story retail stores/warehouses into high quality self-storage facilities
• The company's portfolio today totals 49 properties in 13 states, aggregating in excess of $300 million in market value:
• 49 properties in the U.S.

Management Biographies:

Ken Nitzberg, Chairman & CEO
Mr. Nitzberg is a co-founder of Devon and was responsible for formulating the original business plan, raising the venture capital to fund the Company’s initial operations, assembling a staff of professionals and commencing the Company’s operations.  Prior to co-founding Devon, Mr. Nitzberg served as a Founder, Director and President of the Equitec Financial Group, Inc., which managed $4.0 billion of assets including $2.0 billion of  real estate assets.

Angus Goldie-Morrison, Senior Vice President - U.S. Operations
Mr. Goldie-Morrison joined Devon in 2003 and is presently responsible for all of Devon's U.S. facility operations. Prior to joining Devon, Mr. Goldie-Morrison was SVP and Midwest Divisional manager with Public Storage responsible for over 300 storage facilities and prior to that was involved in senior management positions for 13 years with both Ryder Systems and Budget Rent-A-Car.

Jeffrey Humphrey, Senior Vice President - Asset Management
Mr. Humphrey has been a key member of the management team at Devon since 1990.  Prior to joining Devon, Mr. Humphrey was the Director of Asset Management, Acquisition Audits and Property Taxes for Equitec Financial Group.

Greg Mackay, Senior Vice President - Acquisitions/ Value Added Services
Mr. Mackay joined Devon in 1993 as Senior Vice President of Operations to develop a management infrastructure and assimilate future acquisitions. In 2000, Mr. Mackay became Managing Director of European Operations overseeing Devon's European Market expansion. Since 2002, Mr. Mackay has been Senior Vice President of Acquisitions and Value Added Services.

Prior to joining Devon, Mr. Mackay was a principal with Energy Resources, Inc., where he was responsible for national sales and account development. Previously, Mr. Mackay was Senior Vice President of Operations with Equitec Properties.