Cynthia Foster Curry
About Cynthia Foster Curry
Independent director at ICR-PA since October 2016, with 25+ years leading commercial real estate transactions across brokerage, investment banking, and restructuring. Previously President, National Office Brokerage & Valuation at Colliers (2015–2021), Executive Managing Director at Cushman & Wakefield (2001–2015), and Chief Revenue Officer at LEX‑Markets (2021–2022). She holds a B.A. in History of Science from Skidmore College and an M.B.A. from Harvard, and is a licensed real estate broker in New York . She also serves on external boards and committees, including chairing Nominating & ESG at SITE Centers (NYSE: SITC), reinforcing governance expertise .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Colliers International | President, National Office Brokerage & Valuation | Jan 2015 – Jan 2021 | Led national office platform across leasing, representation, investment sales, property management, and valuation |
| Cushman & Wakefield Inc. | Executive Managing Director | Jun 2001 – Jan 2015 | Senior leadership in brokerage and client advisory across large transactions |
| LEX‑Markets | Chief Revenue Officer | Jan 2021 – Jan 2022 | Commercial real estate marketplace taking single assets public; revenue leadership |
| Lazard Ltd. (Real Estate Investment Banking) | Banker | Not disclosed | Focused on large portfolio restructurings |
External Roles
| Organization | Role | Start | Committee Assignments |
|---|---|---|---|
| SITE Centers Corp. (NYSE: SITC) | Independent Director | Sep 2024 | Audit; Compensation; Nominating & ESG (Chair) |
| Avison Young (global brokerage) | Director | Apr 2024 | Audit Committee |
| Hospital for Special Surgery (HSS) | Trustee; Executive Committee | Not disclosed | Trustee; Executive Committee |
| Museum of the City of New York | Trustee; Executive Committee | Not disclosed | Trustee; Executive Committee |
| Urban Land Institute (ULI) | Former Trustee; Vice Chairperson (historical) | Not disclosed | Governance/industry leadership roles |
| Real Estate Roundtable | President’s Council | Not disclosed | Industry policy engagement |
Board Governance
- Independence: Independent director at ICR-PA since October 2016 .
- Tenure: ~9 years on ICR-PA’s board as of 2025 .
- External governance leadership: Chairs Nominating & ESG and serves on Audit and Compensation at SITE Centers, signaling committee leadership experience transferable to ICR-PA .
- Director fee structure at ICR-PA supports alignment via equity choice and modest cash retainers (details below) .
Fixed Compensation
Director compensation earned (USD thousands):
| Metric | FY 2021 | FY 2023 | FY 2024 |
|---|---|---|---|
| Fees Earned or Paid in Cash | 25 | 25 | 24 |
| Stock Awards | 10 | 10 | 10 |
| Options Awards | — | — | — |
| All Other Compensation (distributions on stock awards) | — | 4 | 4 |
| Total Compensation | 35 | 39 | 38 |
Director fee schedule (ICR-PA):
- Annual retainer: $20,000; meeting fees: $1,000 per in‑person board meeting ($500 per committee), $500 per telephonic board meeting ($350 per committee); Audit Committee chair annual fee: $5,000; retainer payable in cash and/or unrestricted Class I shares, at director election .
Performance Compensation
| Metric | FY 2021 | FY 2023 | FY 2024 |
|---|---|---|---|
| Non‑Equity Incentive Plan Compensation | — | — | — |
No performance‑based director compensation, options, or incentive plans disclosed for directors at ICR-PA; compensation is primarily cash retainers, meeting fees, and restricted stock awards .
Other Directorships & Interlocks
| Company | Sector | Role | Committee Roles | Interlock/Notes |
|---|---|---|---|---|
| SITE Centers (NYSE: SITC) | Retail REIT | Director | Audit; Compensation; Nominating & ESG (Chair) | Public REIT board; governance leadership; committee interlocks noted in SITC proxy (no executive officer cross‑service) |
| Avison Young | Real Estate Services | Director | Audit Committee | Private/global brokerage; audit oversight role |
No related‑party transactions involving Ms. Curry are disclosed in available ICR-PA filings; executive compensation for ICR-PA officers is paid by external Advisor/Sub‑Advisor (externally managed structure), not by ICR-PA, which is a governance consideration for the company’s overall model .
Expertise & Qualifications
- Commercial real estate transaction leadership across brokerage, financings, restructurings, and M&A advisory; 25+ years experience .
- Education: B.A. Skidmore College (History of Science); M.B.A. Harvard University .
- Licensure: Licensed real estate broker in New York .
- Recognitions: Real Estate Forum “Most Influential Women” (2008, 2015); Sokol Media “Top Women in Real Estate”; Chairman’s Leadership Award, Museum of the City of NY (2022) .
Equity Ownership
| Metric | Mar 15, 2021 | Mar 31, 2022 | Mar 14, 2024 | Mar 13, 2025 |
|---|---|---|---|---|
| Shares Beneficially Owned (units) | 11,681 | 12,244 | 13,416 | 14,020 |
| Ownership % of Shares Outstanding | <1% | <1% | <1% | <1% |
| Shares Outstanding (units) | 11,642,173 | 10,741,071 | 10,116,192 | 10,117,998 |
Securities authorized for issuance under the independent director restricted share plan remained ~0.49–0.58 million over 2020–2024, indicating ongoing availability for director equity grants .
Governance Assessment
- Positive signals: Long‑tenured independent director with deep sector expertise; external governance leadership including chairing a nominating/ESG committee; equity grants alongside cash retainers indicate some ownership alignment .
- Minimal pay complexity: No options or incentive plans for directors; transparent meeting‑based fee schedule; stock awards fixed at $10k historically .
- Ownership: Incremental increases in beneficial ownership over time, though still <1% of shares outstanding (common for externally managed REITs) .
- Watch points: ICR-PA’s externally managed structure (Advisor/Sub‑Advisor compensate executive officers) is not a director conflict per se but is a governance model that investors monitor for alignment; no related‑party transactions involving Curry disclosed in available filings .