Director since October 2018
From 2005 to 2015, Ms. Behar was Managing Director, Real Estate & Alternative Investments, for GM Investment Management Corporation (GMIMCo), having previously served as Portfolio Manager at the company for 19 years. Ms. Behar was responsible for the management of approximately $12 billion at peak portfolio value of primarily private market and publicly traded real estate on behalf of both General Motors Company and other unaffiliated clients. She has served on numerous boards within the real estate sector and she brings this investment, real estate and financial expertise to the Shurgard Board.
Ms. Behar currently serves on the Boards of Directors of Armour Residential REIT, Inc. (NYSE: ARR) and the Broadstone Real Estate Access Fund (NYSE: BDREX), as well as on the Board of Directors of Broadtree Residential, a non-traded REIT. Ms. Behar is a member of the Real Estate Investment Advisory Council of the National Association of Real Estate Investment Trusts (Nareit), and serves as a member, and as Treasurer, of the Board of Directors of the non-profit Puppies Behind Bars. Ms. Behar previously served on the boards of directors of Sunstone Hotel Investors, Inc., Gramercy Property Trust, Forest City Realty Trust, Desarrolladora Homex, SAB de CV and Hospitality Europe, B.V., as well as on the Board of Directors of the Pension Real Estate Association (PREA), having held the position of Board Chair of PREA from March 2010 to March 2011.
Ms. Behar holds a B.S.E (magna cum laude) from The Wharton School, University of Pennsylvania, an M.B.A. from Columbia University Graduate School of Business, and the Chartered Financial Analyst (CFA) designation. In December 2018, Ms. Behar was the recipient of Nareit’s E. Lawrence Miller Industry Achievement Award for her contributions to the REIT industry.
As a non-independent director, one of Ms Behar’s Committee appointments is on the Audit Committee. In assessing the renewal of Ms Behar’s mandate as a member of the Audit Committee, the Board considers that such renewal complies with the internal rules and regulations of the Audit Committee that are based on the X Principles of Corporate Governance of the Luxembourg Stock Exchange.
According to these rules, the Audit Committee shall consist exclusively of non-executive Directors, of which at least half shall be independent Directors. The Audit Committee is exclusively composed of non-executive Directors and three-quarters are independent directors. In addition, the Committee also considered Ms Behar’s strong accounting and financial expertise, specifically in the real estate industry, as particularly beneficial skills for the Audit Committee of the Company.