Fund Management Team

The principals of ICA Tim Blum, Kevin Augustyn, Peter Mavrogenes, David Ogdon, Tom Reedy, Don Kane, and David Dillon, are a seasoned team of real estate and finance professionals with over 45 years combined experience in the real estate industry. Messrs. Mavrogenes and Ogdon are currently Senior Managing Directors with Innovative Capital Advisors, LLC, an Illinois limited liability company (“ICA”), and Mr. Blum is Executive Vice President and Managing Director of HSA Commercial, Inc., an Illinois corporation (“HSA”). HSA will provide the property management, leasing, development and construction management services for each investment property.

Tim Blum

Executive Vice President and Managing Director of HSA Commercial Real Estate’s Retail Brokerage Division.

Tim has represented retail clients including J.C. Penney’s, Carson’s Furniture, Value City Department Stores, Galyans, Old Navy, Bed Bath and Beyond, Kohl’s, Sportmart, DSW, and Barnes and Noble. Additionally, Tim has been involved in more than three million square feet of retail and mixed-use developments. Some of Tim’s projects include Orland Park Place, an award-winning retail redevelopment project in Orland Park, Ill., and a pioneering mixed-use redevelopment project in Royal Oak, Mich., that includes retail and residential condominiums. Prior to joining HSA, Tim held positions as an acquisitions and asset specialist and retail broker with Brauvin Realty and VMS Realty in Chicago. Tim is a licensed real estate professional in the State of Illinois and a member of the International Council of Shopping Centers (ICSC). Tim graduated from Loyola University with a BBA in Finance and Computer Science.

Kevin Augustyn

Managing Director of the ICA Real Estate Equity Funds.

He has over 25 years of commercial real estate experience focusing on zoning and entitlements, market research, due diligence, construction lending, finance, development, and acquisitions. He has particular expertise in restructuring and repositioning troubled, complex real estate assets and has structured and implemented real estate development and financing projects valued in excess of $1 billion. Mr. Augustyn has served as Director of Retail Development for Opus North Corporation, led the mixed use development practice for the Midwest for Trammell Crow Company, and recently served as a Vice President of C III Asset Management, a New York based real estate investment firm. His notable projects include the redevelopment of two mixed use projects in Chicago, North Pier and Piper’s Alley, and development of two retail centers anchored by Costco and Dominick’s in transitional Chicago neighborhoods. He is a graduate of University of Illinois in 1980 with a Bachelor of Arts in Urban Planning (BAUP) and received an MBA with concentrations in finance and management policy from the Kellogg Graduate School of Management at Northwestern University in 1984.

Peter Mavrogenes

Senior Managing Director and CEO of Innovative Capital Advisors.

Prior to the formation of ICA, Peter was a founder and Chief Investment Officer at Asset Allocation & Management Company where he had overall responsibility for $11 billion of insurance company assets, and was directly responsible for $6 billion (over half) of AAM’s assets in his dual role as Senior Portfolio Manager. He specialized in senior structured assets including MBS, ABS, and CMBS sectors and has been a specialist in interest sensitive liabilities including annuities and universal life products. Peter has over 25 years of insurance asset management experience.

David Ogden

David Ogdon is a Senior Managing Director and CIO of Innovative Capital Advisors LLC. Formerly a Principal at Asset, Allocation & Management Co., David managed $2 billion of assets for insurance company clients. He is well versed in all traditional fixed income sectors and was the point man for several “plus” strategies at AAM. David has over 20 years of insurance asset management experience.

Thomas Reedy

Senior Managing Director of Dillon Kane Group LLC.

With over twenty-five years of entrepreneurial experience in financial services and technology, Tom’s leadership empowers professionals within organizations to act as a stimulus for growth strategies – cultivating opportunities in new and existing markets; manifesting portfolios of innovation; and, managing to success. Prior to joining Dillon Kane Group, Tom served as CEO & Chairman of iTRACS Corporation, a market leading infrastructure technology company. Prior to iTRACS, Tom spent approximately twenty years in the investment business. During this period, Tom served as Senior Executive Vice President at EVEREN Securities, the tenth largest U.S. brokerage firm, where he had responsibility for all Capital Markets activities. Within the Capital Markets division, Tom had direct responsibility for EVEREN’s market leading Real Estate Group. Tom has earned a reputation for establishing and tapping into networks reflecting a rich diversity of business, technical and entrepreneurial IQ to nurture disruptive and breakthrough innovations, speed time to market, and improve organizational outcomes. Tom’s market reputation reflects a commitment to creating long-term shareholder value, leveraging balanced portfolios of growth initiatives, and maintaining a high level of integrity and transparency. Tom is a CPA with degrees from Illinois State University (B.S.) and The University of Michigan (MBA).

Don Kane

Partner with Dillon Kane Group LLC.

Don provides unique insight into the financial services industry and the capital markets from over 20 years experience in investment banking, venture capital and entrepreneurial endeavors. Don was a Managing Director in the Investment Banking Division of Goldman Sachs & Co from 1985 to 1999. During his 14 year career, Don helped build the Firm’s Midwest Financial Institutions Investment Banking practice and founded its Financial Institutions Technology Group. Don partnered with David Dillon to form the Dillon Kane Group in November 2001.

David Dillon

Partner with Dillon Kane Group LLC, a business consulting firm in Chicago, Illinois.

David has more than 20 years of experience in the application of advanced technology concepts and solutions to the financial services industry. As the CIO at CRT (a leading Chicago based derivatives firm sold to Nations Bank), David led a global technology organization that built and supported real time pricing, trade execution, and risk management capabilities that were instrumental in CRT’s success and ultimate sale. At Nations Bank and then at Bank of America, David was a leader in the Global Corporate and Investment Bank in finding innovative technology solutions to complex corporate banking problems. David then ran the New Ventures Group for Citadel Investment Group in Chicago before forming the Dillon Kane Group in 2001.