Team

Kai is the Co-Founder and Co-Managing Partner of R3 Ventures. Prior to founding R3, Kai spent over 20 years at JBG SMITH (NYSE: JBGS) and its predecessor, The JBG Companies. As Chief Development Officer, he led all development and construction strategies and activities. Kai was a member of the firm’s Operating Committee and a voting member of its Investment Committee. Kai led the planning and development of over 10,000 multifamily units and 6 million square feet of commercial space, including leading the development of Amazon HQ2. Before joining JBG in 2003, Kai worked in development for Gables Residential in both Atlanta and Washington, D.C.

Kai holds a Bachelor of Arts from the University of Western Ontario and a Master of Business Administration from the University of North Carolina’s Kenan-Flagler Business School. He serves on the Wood Center Advisory Board at Kenan-Flagler Business School and was the Board Chair of St. Patrick’s Episcopal Day School in Washington, D.C.

Dave is the Co-Founder and Co-Managing Partner of R3 Ventures. Prior to founding R3, he served as the Chief Commercial Officer at JBG SMITH (NYSE: JBGS), where he led the commercial leasing, asset management, and other activities related to the firm’s office portfolio. A member of the firm’s Operating Committee, he led the completion of over 14 million square feet of lease transactions, $1.5 billion in dispositions, and $500 million of capital improvement projects. He also spearheaded the lease-up and marketing efforts for numerous landmark development projects and was part of the core team responsible for the pursuit and successful award of Amazon HQ2. With more than 25 years of experience in commercial real estate, Dave’s career includes leadership roles in development and advisory work. Before joining JBG SMITH, he was as a Senior Vice President at CBRE, Inc. in Washington, D.C., and held roles as a Development Executive at Clark Realty Capital, LLC, and as a commercial real estate advisor at The CAC Group in San Francisco.

Dave holds a Bachelor of Arts from Washington and Lee University and a Master of Science in Real Estate Development from the Massachusetts Institute of Technology.

Ray is a Senior Advisor to R3 while also continuing to serve Senior Executive Vice President of Boston Properties (NYSE: BXP). Prior to his appointment to Senior Executive Vice President in January 2016, Ray has held various positions at BXP since 1980, including, Executive Vice President, Head of the Washington, DC Office and National Director of Acquisitions and Development and Senior Vice President and Co-Manager of the Washington, DC office. Ray is responsible for supporting BXP's Washington, DC, Los Angeles, and Seattle regional businesses, as well as coordinating company-wide leasing and cross regional client relationships. Ray joined BXP in 1980, leading its expansion to become one of the dominant real estate firms in the Washington, DC metropolitan area. From 1977 to 1980, Ray was a leading commercial real estate broker in the Washington, DC area. Ray is the immediate past President of the Board of Spanish Education Development (SED) Center; a member of the Federal City Council; a member of The Economic Club of Washington; and a Founding member of the National Association of Industrial and Office Properties (NAIOP), Northern Virginia. Ray, who has received numerous professional recognitions during his 45-year career, is one of the most respected real estate professionals in the United States and often quoted in the regional and national press as a voice of commercial real estate.

He is a graduate of the U.S. Naval Academy and of the U.S. Naval Post Graduate School in Monterey, California.

Salem is a Managing Director focused on sourcing and capitalizing new acquisition opportunities for R3 and its partners and has 20 years of experience in the industry including a diverse mix of product types. Before joining R3, he spent 14 years at TMG, a Washington D.C. based private equity investor and developer. As Managing Director of Acquisitions, he was a member of the firm’s Investment Committee and oversaw acquisition and investment management activities for the firm’s series of value-add funds, ultimately investing over $1.7 billion of equity in office and residential assets. Salem sourced and executed new acquisitions and ground up development opportunities, debt and equity placement, and performed asset management. Prior to joining TMG, Salem was an early employee at Beech Street Capital where he was responsible for underwriting multifamily mortgage originations throughout the US. Salem began his career as an Analyst with the JBG Companies, now JBG SMITH, where he supported commercial, residential, retail, and hotel acquisitions and performed financial analysis for development and asset management initiatives within their portfolio.

Salem received his Bachelor of Science in Economics with concentrations in Finance and Real Estate from The Wharton School of the University of Pennsylvania and is a CFA Charter holder.

Luke is a Vice President focused on the sourcing, underwriting, and execution of new acquisition opportunities for R3. Prior to joining R3, Luke was an Associate on the Acquisitions and Asset Management teams at Starwood Capital Group in San Francisco, CA. There, he was responsible for the underwriting and execution of new multifamily, office, and industrial opportunities throughout the Western US and performed asset management responsibilities for a 10 million square foot office portfolio, leading analyses for asset sales and loan restructurings. Prior to Starwood, Luke was a Senior Analyst on the Commercial Asset Management team at JBG SMITH. Luke holds a Bachelor of Arts in Economics from Princeton University.