Founder, Managing Principal

With more than 30 years of experience in commercial real estate, primarily in institutional real estate acquisitions and joint venture development investments, Mr. Reza formed Portsmouth in 2001 with a focus on assembling prime development sites for urban infill commercial, luxury hospitality and multi-family residential projects in the most sought-after neighborhoods in downtown San Francisco. After its initial focus on San Francisco, Portsmouth has refined its focus to luxury hospitality and residences and expanded its project reach nationally and internationally. Mr. Reza is responsible for property acquisitions for investment and development opportunities, identifying their highest and best use potential, developing project financing and business plan strategies, and engaging a best-in-class team to complete all aspects of developing each project. Portsmouth’s first project was as a partner in the iconic One Rincon Hill project for which he spearheaded the negotiations for the site acquisition from Bank of America. Portsmouth has developed in prior or existing partnerships approximately 1.9 million square feet with a portfolio valuation of over $2 billion and is currently planning the acquisition and development of approximately 3.6 million SF of luxury hospitality and luxury branded residential projects with an estimated total project costs of approximately $3.5 Billion.

Prior to founding Portsmouth, Mr. Reza was Sr. Vice President of Capital Transactions at Lend Lease Real Estate Investments where he was responsible for the development or acquisition of Class A, institutional grade real estate properties within the Western United States and British Columbia. During his tenure there, he participated in or originated approximately $1.3 Billion of transactions. Ken holds a BS in Finance and Real Estate from the California State University, Sacramento.

Managing Principal

Mr. Tung is a New York based global real estate professional with a 30-year career in mixed-use real estate development, cross-border private equity real estate investment and asset management. Mr. Tung was most recently a Managing Director and US principal of Cindat Capital Management, a PERE investment platform managing global real estate assets in office, retail, luxury residential, hospitality and healthcare properties valued in excess of $8 Billion across gateway markets on behalf of institutional investors. Previously, Mr. Tung was a Managing Director of the Rockefeller Group in New York, originating its Asia Pacific business including the Shanghai Bund Rockefeller Group CJV undertaking an 18-building historic landmark development that he continues to advise presently.

Prior to Rockefeller Group, Mr. Tung was the Chief Real Estate Officer for the global media conglomerate Bertelsmann for all its corporate real estate ownership and created its asset management operations in the US following the completion of its new headquarters in Times Square. In other industry leadership roles, Mr. Tung served as a Governor of the Real Estate Board of New York, an Executive Board Director for the Times Square BID, as well as a Board Director (2013-2018) of the NYSE listed Asia Pacific Fund. Mr. Tung holds an MBA from Columbia Business School and Architectural Degrees from Princeton University and University of Southern California. He began his professional career with the architectural firm Skidmore, Owings & Merrill and completed a diverse range of major projects worldwide before becoming a real estate developer on several major commercial/residential towers in the New York region.

Ellen has over thirty years of diverse experience in the commercial real estate industry with seasoned track record in major project development and transaction structuring as well as institutional finance and asset management. Ellen was most recently a Managing Director with Bizzi & Partners Development, an international real estate group with cross-border partners and premier development projects where she was involved in all aspects including capital raise and JV partnership negotiations. Previously, Ellen was a real estate executive with the Athena Group originating acquisitions and structuring its development pipeline across the US. She also led a successful ULURP entitlement process for the Flushing Commons redevelopment that was a Joint Venture between FT Associates and the Rockefeller Group.

Prior to real estate development, Ellen had a distinguished career with Citibank’s Private Bank where she was a US real estate specialist and senior credit officer serving Asia Pacific high net worth clients, some of whom she continues to advise presently. Ellen was also a Vice President with Citicorp Real Estate Corporate Finance Group. She began at Citibank in its North American Banking Group corporate premises team completing major institutional facilities across the country and Canada.

Early in her professional career, Ellen was an A.I.A. Architect with Skidmore, Owings & Merrill directing major projects in North America. Ellen holds an MBA in Finance & Real Estate from Columbia University, a Master of Architecture from Princeton University, and a B.S. in Architecture and B.S. in Civil Engineering from M.I.T.

Anneke van Exel-Reza joined Portsmouth Development, LLC as a Principal and Co-owner in 2013. She has responsibility for day-to-day business management and administration along with strategic planning support.

Anneke joined the company with over 30 years of executive leadership experience in the airline industry for Delta Air Lines and later United Airlines in the areas of Sales, Marketing, Training & Development, Operations (international and U.S. domestic), Start-ups, Employee Relations, and Logistics. Prior to Portsmouth, she served as CEO of the Americas at Kilfrost, Inc. and Corporate Sr. Vice President at Kilfrost, LTD, a UK based company. There she was responsible for all aspects of the company’s business in the United States, Canada, and South America which included Sales and Marketing, Financial Reporting and Performance, Customer Support, Manufacturing, Logistics, Third Party Suppliers and Operators, and Human Resources. During her tenure, the company’s financial performance increased by 150%, while reducing overhead through improved efficiency.

Throughout her career, Anneke has been involved in numerous initiatives to improve processes and performance, client and employee relations, and new start-ups. She has a strong client and employee orientation to achieve business results and has a proven track record in managing existing operations, developing new areas, and driving change. She consistently encourages innovation, creativity, and collaboration to resolve complex problems. She has been acknowledged as an effective leader and mentor who is able to engage staff with a focus on communication, teamwork, and visible leadership.

Anneke also currently serves on the Board of Directors for a not-for-profit community hospice organization, Hospice of the East Bay.