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Michelle M. MacKay has served as Executive Vice President - Investments of iStar Financial since February 2003. Ms. MacKay is responsible for direct real estate origination, working with real estate opportunity funds as well as Oak Hill Advisors. She joined iStar Financial from UBS Warburg, where she was an Executive Director in commercial real estate and a senior member of the commercial real estate approval committee. She originated and closed over $1 billion of first mortgage and mezzanine real estate transactions while at UBS. Ms. MacKay was also responsible for mezzanine structuring and distribution. From 1996 to 1998, Ms. MacKay was Vice President at Chase Bank where she was part of a two-person team hired to establish the commercial mortgage-backed securities trading desk and real estate products distribution. Prior to Chase, Ms. MacKay created and managed a $1.8 billion portfolio of real estate investments at The Hartford (HIMCO). Her responsibilities included analyzing and investing in CMBS, CMBS IO, unsecured REIT debt, FNMA multifamily, credit tenant lease structures and junk rated real estate companies. Ms. Mackay holds an M.B.A. from the University of Hartford and a B.A. from the University of Connecticut. | 