Leadership Team
Our highly experienced Executive Management Team fuels the strong performance of Royal Oak. All team members have been critical contributors to both the success and growth of our company and its investment. Our team is supported by committed Board of Directors and Committee Members – recognized business and community leaders with public board experience, including publicly traded REITs, who are active participants in our company strategy and key stakeholders in our success. The Royal Oak board is comprised of six directors, four of whom are elected by shareholders as Independent Directors, and two who are nominated by the asset manager - Cambridge Street Asset Management, LLC, who serve as non-Independent Directors. Cambridge Street Asset Management also serves as Royal Oak's property manager.
Executive Management Team
Daniel J. Goldstein Chairman of the Board of Directors & Chief Executive Officer
Daniel J. Goldstein is Chairman of the Board of Directors and Chief Executive Officer of the Corporation. He is also the Sponsor of the Corporation, which he founded in 2013 with his friend and partner, Laurence Glazer. Dan serves as the Managing Partner of the Asset Manager and Property Manager for Royal Oak. Dan serves on the Royal Oak Board of Directors, as one of the Asset Manager-nominated directors. He also serves on the Asset Acquisition Committee and the Investor Relations Committee.
Dan earned a Bachelor’s degree from the University of Michigan, Ann Arbor, before returning to Rochester, NY in 1993 to begin a career as a public accountant. He practiced public accounting in Rochester for 11 years, with the last 4 years at the partner level. In 2004, he became the Chief Financial Officer of Buckingham Properties LLC, a Rochester, NY based property management and real estate development company. In 2007, Dan was named a partner in Buckingham Properties LLC. Dan transitioned out of Buckingham Properties LLC in early 2014 to focus on the role of President and CEO of Royal Oak.
Dan is a past honoree of Rochester Business Journal’s “Forty Under 40” for business and civic contributions. He currently serves on the board of directors for the Monroe Community College Foundation, Temple Beth El of Rochester, and is a current board member and a past President of the Jewish Community Center of Greater Rochester.
Daniel J. Goldstein
Chairman of Board of Directors & Chief Executive Officer
Mark T. Allen President & Chief Development Officer
Mark T. Allen is the President and Chief Development Officer of Royal Oak Realty Trust (Royal Oak). He is also the President of the Asset Manager, Cambridge Street Asset Management LLC. Mark’s responsibilities include establishing new investor relationships, providing communication and disclosures to Royal Oak’s growing shareholder base, and managing business development responsibilities specific to generating new real estate opportunities. Mark is a partner in Cambridge Street Asset Management LLC.
Mark joined the Asset Manager in 2016 following a 15-year banking career at JPMorgan Chase Bank. In his most recent role with the bank, Mark served as the Upstate New York Region Executive for the Commercial Bank and was responsible for the Rochester, Syracuse, Southern Tier (NY) and North Central Pennsylvania corporate client markets.
Mark is a past honoree of Rochester Business Journal’s “Forty Under 40” for business and civic contributions. He currently serves on the boards of Oak Hill Country Club and the Rochester Charitable Business Organization. He is a former board member of CenterState CEO and Big Brothers Big Sisters of Greater Rochester.
Mark earned a Bachelor of Science degree in Finance from Miami University (OH) and a Master of Business Administration from the Kellogg School of Management at Northwestern University.
Mark T. Allen
President & Chief Development Officer
R. Stan Holland Chief Operating Officer
Stan Holland is Vice President, Chief Operating Officer and Assistant Treasurer of the Corporation. He is also the Vice President of Operations and Business Development for the Asset Manager. In these roles, Stan oversees the portfolio management, property management and business development functions for the firm. He also assists in developing our corporate strategy and supporting various operating and capital markets initiatives. Stan’s activities support our growth by providing a solid operating foundation for our portfolio and fostering new business relationships for the firm. He actively engages in dialogues with business owners, private equity firms, real estate companies, accountants, attorneys and other parties who might be interested in sale-leasebacks, UPREITs or other transactions.
Stan has over 25 years of experience in investment banking, corporate finance and corporate development roles at firms including Manning & Napier. Eastman Kodak Company, Vaccinex, Morgan Stanley and Salomon Brothers. He began his career in leasing, property management and development roles at the Bissell Companies, a southeastern commercial real estate firm.
In support of the Rochester community, Stan has served in leadership roles for Gilda’s Club, High Tech Business Council, Duke University Alumni Association and the Country Club of Rochester. In 2003, he was a honoree of Rochester Business Journal’s “Forty Under 40” for business and civic contributions.
Stan has earned a Bachelor of Arts degree in Economics and English from Duke University and Master of Business Administration and Juris Doctor with Honors from the University of North Carolina.
R. Stan Holland
Chief Operating Officer
Bruce E. Bender Chief Investment Officer
Bruce E. Bender is Vice President, Chief Investment Officer and Assistant Secretary of the Corporation. He also serves as the Vice President of Acquisitions of the Asset Manager, Cambridge Street Asset Management LLC. In this position, he evaluates, recommends and acquires commercial real estate on behalf of Royal Oak. Bruce is a partner in Cambridge Street Asset Management LLC.
Bruce has over 30 years in the industry, and Bruce has acquired a unique blend of commercial real estate experience with involvement in all aspects of real estate transactions including purchasing, selling, financing and leasing. Prior to joining Royal Oak, Bruce spent 15 years at Xerox Corporation where he held numerous management positions in its global real estate organization. Throughout this time, he was directly responsible for acquisitions, facility management, and real estate strategy. Before his Xerox experience, Bruce handled certain commercial real estate responsibilities for Monro Muffler Brake and Wegmans Food Markets.
Bruce earned an MBA in Finance and Corporate Accounting from the Simon Graduate School of Business at the University of Rochester in Rochester, NY, as well as a Bachelor’s degree in Business Administration from the University of South Florida in Tampa, FL. He has been a licensed Real Estate Broker in New York State since 1998 and is a certified Lean Six Sigma Green Belt.
Bruce E. Bender
Chief Investment Officer
Charles R. Knittle, CPA Chief Accounting Officer
Charles R. Knittle, CPA is Vice President, Chief Accounting Officer, Treasurer and Secretary of the Corporation. He also serves as the Vice President of Finance for Cambridge Street Asset Management LLC, the Asset Manager for Royal Oak. In these capacities, he drives the accounting and financial reporting responsibilities for the Royal Oak real estate portfolio, all financing related activities, manages the full suite of internal and external insurance programs, as well as all other corporate business. Charlie is a partner in Cambridge Street Asset Management, LLC.
Prior to joining Royal Oak, Charlie served as the Assistant Controller at Ametek Power Instruments, where he was responsible for oversight of organizational accounting functions, budgeting and forecasting of financial data. Earlier in his career, Charlie performed auditing, tax, consulting and accounting services for the public accounting firm of Davie Kaplan, CPA, PC in Rochester, NY.
Charlie is a member of the New York State Society of Certified Public Accountants, American Institute of Certified Public Accountants, the Knights of Columbus, and the American Bowling Congress. He is a Beta Gamma Sigma International Honor Society inductee which represents the highest recognition a business student can receive in a business program accredited by AACSB International. Charlie serves as a board member and Vice President of the board of Big Brothers Big Sisters of Greater Rochester, as a member of St. John Fisher College School of Business Dean’s Leadership Circle and as a member of the Leaders Build Committee at Flower City Habitat for Humanity. Charlie is a 2020 honoree of Rochester Business Journal’s “Forty Under 40” for business and civic contributions.
Charlie is a Certified Public Accountant. He earned an MBA with a concentration in Accounting, and a Bachelor of Science in Management with a concentration in Corporate Finance and Accounting, from St. John Fisher College in Rochester, NY.
Charles R. Knittle, CPA
Chief Accounting Officer
Matthew J. Zappia, CPA Chief Asset Management Officer
Matt J. Zappia, ASA, CPA is the Chief Asset Management Officer for Cambridge Street Asset Management LLC, the Asset Manager for Royal Oak. In this role, Matt actively analyzes Royal Oak’s portfolio assets from a financial, business, industry and real estate market perspective. Matt also provides strategic input to Royal Oak’s acquisition team by analyzing the creditworthiness of potential tenants and guarantors.
Matt has over 15 years of consulting, finance and accounting experience. Prior to joining Cambridge Street Asset Management, Matt worked for Empire Valuation Consultants in Rochester, NY. During his time at Empire, he was involved with over 500+ valuations of privately-held companies across numerous sectors, including real estate, investment management, entertainment, consumer durables and industrials.
Before coming to Rochester, Matt was a consultant with KPMG in Chicago, providing consulting services to Fortune 1000 companies. He began his career in Baltimore with Reznick Fedder & Silverman, a consulting firm that specializes in commercial real estate, construction and tax credit markets.
Matt is a Certified Public Accountant (CPA) and an Accredited Senior Appraiser (ASA) with the American Society of Appraisers. Matt has also passed the Level I Chartered Financial Analyst (CFA) examination. He earned his BS from the Pennsylvania State University where he was a captain of Penn State’s Varsity lacrosse team. He earned his MBA from Loyola University Maryland.
Matthew J. Zappia, CPA
Chief Asset Management Officer
Board of Directors
Daniel J. Goldstein Chairman of the Board of Directors & Chief Executive Officer
Daniel J. Goldstein is Chairman of the Board of Directors and Chief Executive Officer of the Corporation. He is also the Sponsor of the Corporation, which he founded in 2013 with his friend and partner, Laurence Glazer. Dan serves as the Managing Partner of the Asset Manager and Property Manager for Royal Oak. Dan serves on the Royal Oak Board of Directors, as one of the Asset Manager-nominated directors. He also serves on the Asset Acquisition Committee and the Investor Relations Committee.
Dan earned a Bachelor’s degree from the University of Michigan, Ann Arbor, before returning to Rochester, NY in 1993 to begin a career as a public accountant. He practiced public accounting in Rochester for 11 years, with the last 4 years at the partner level. In 2004, he became the Chief Financial Officer of Buckingham Properties LLC, a Rochester, NY based property management and real estate development company. In 2007, Dan was named a partner in Buckingham Properties LLC. Dan transitioned out of Buckingham Properties LLC in early 2014 to focus on the role of President and CEO of Royal Oak.
Dan is a past honoree of Rochester Business Journal’s “Forty Under 40” for business and civic contributions. He currently serves on the board of directors for the Monroe Community College Foundation, Temple Beth El of Rochester, and is a current board member and a past President of the Jewish Community Center of Greater Rochester.
Daniel J. Goldstein
Chairman of Board of Directors & Chief Executive Officer
Charles E. Lannon
Independent Director / Chairman of Independent Directors Committee
Charles E. LannonCharles E. Lannon became an Independent Director of Royal Oak in January 2014 and is the Chairman of the Independent Directors Committee of the Board of Directors. He is also a member of the Royal Oak Audit Committee. Chuck is a co-founder of Life Storage, Inc., a New York Stock Exchange-traded REIT(symbol LEI). He has been a member of the board of director at Life Storage since 1995, and previously served as chair of its Governance Committee and is currently a member of its Audit and Compensation Committees. In addition, Chuck serves on the Board of Directors of Post Process Technologies, as well as several other private companies.
Chuck has served as President of the consulting firm Strategic Advisors, Inc. (formerly Strategic Capital, Inc.), since 1995. Through Strategic Advisors, Chuck provides consulting and advisory services to numerous companies seeking capital, transactional and financial guidance. Chuck has also served as a principal in, as well as an advisor for, numerous commercial real estate ventures throughout his career. During the past twenty years, Chuck has been an executive officer of several non-public companies. Prior to 1995, Chuck was active in the Self-Storage industry for many years.
Charles E. Lannon
Independent Director
Chairman of Independent Directors Committee
Thomas F. Bonadio, CPA
Independent Director / Audit Committee Chairman
Thomas F. Bonadio, CPAThomas F. Bonadio, CPA, became an independent director of the Corporation in January 2014 and serves as Chairman of the Royal Oak Audit Committee. Tom is currently the founder and Senior Council of The Bonadio Group, a company he founded in 1978. Previously, Tom served as Chairman and CEO of The Bonadio Group for 40 years.
Tom has extensive experience in all areas of business practice, having served thousands of clients during his professional career and specializes in providing business consulting services to privately-held companies. In addition to being a Certified Public Accountant since 1971, Tom earned a BA in Accounting from St. John Fisher College in Rochester, NY, where he was awarded an honorary degree of Doctor of Law.
Tom is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants.
He currently serves on the boards of directors of Paychex Inc. (PAYX), where he is a member of their company’s Audit Committee. He previously served in the same capacity for Torvec, Inc. (OTCQB) and Conceptus, Inc. (NASDAQ).
Tom also served as a member of the Monroe County Jobs Creation Task Force, and the St. John Fisher College Alumni Activities Committee. He is a past Chairman of the Board of Trustees of St. John Fisher College. Tom is a past inductee of the Rochester Business Hall of Fame.
Thomas F. Bonadio, CPA
Independent Director
Audit Committee Chairman
Edward J. Pettinella
Independent Director
Edward J. PettinellaEdward J. Pettinella joined the Board as an independent director in June 2018 and serves as a member of the Independent Directors Committee and the Audit Committee. Ed served as Chief Executive Officer, President and as a Director of Home Properties, Inc. (NYSE: HME), a $7+ billion apartment REIT, until its sale in October 2015. Prior to joining Home Properties in 2001, Ed was President of Charter One Bank of New York and Executive Vice President of Charter One Financial, Inc. He served in a variety of capacities with Rochester Community Savings Bank before joining Charter One Financial.
Ed currently serves as a Director on the board of Life Storage, Inc., a publicly traded self-storage REIT (NYSE: LSI) as well as serving as the Chair of its Nominating and Governance Committee. Additionally, Ed serves as the Lead Independent Director on the board of Manning & Napier, Inc., a publicly traded asset management firm (NYSE: MN). where he also serves as the Chair for the Audit Committee, and on the Compensation Committee and the Nominating and Corporate Governance Committee.
Ed serves as the Vice Chairman of the Board of Trustees of Syracuse University and is the Board Chair Emeritus of the Geneseo Foundation Board of Directors. Ed previously served on the board of the National Multi Housing Council (NMHC), the Board of Governors of the National Association of Real Estate Investment Trusts (NAREIT) and as council member of the Urban Land Institute (ULI).
He holds an MBA from the Whitman School of Management at Syracuse University and a Bachelor of Arts degree from the State University of New York at Geneseo. Ed resides in Rochester, NY.
Edward J. Pettinella
Independent Director
E. Philip Saunders
Independent Director
E. Philip Saunders
Mr. E. Philip Saunders became an Independent Director of Royal Oak in June 2014 and also serves as a member of the Royal Oak Audit Committee. Phil is the founder of a number of notable companies, including Genesee Regional Bank, Truck Stops of America, Griffith Energy, Travel Centers of America and Sugar Creek Corporation. In addition, Phil is an owner of Countryside ALFC, a commercial real estate company. Other significant ownership interests include Valley Fuels, Sugar Creek Farms, Western New York Energy, CEA Fresh Farms and American Rock Salt.
Phil currently serves as Chairman of Genesee Regional Bank and Valley Fuels as well as Chairman of the Board of Directors of Paul Smith’s College. Phil additionally serves on the Board of Directors of the University of Rochester, Rochester Institute of Technology, American Rock Salt, CEA Fresh Farms, Lewis Tree, CurAegis Technologies, Western New York Energy, and the Young Entrepreneurs Academy. Phil was formerly the Executive Vice President and Director of Ryder Systems, Owner/CEO of Econo-Car International, and Owner/CEO of Richardson Foods Corporation.
In addition to his current board service, Phil previously served as a member of the Board of Directors of the American Red Cross, Boy Scouts of America, Fleet Bank, Genesee Valley Trust Company, Hahn Automotive, Excellus of New York, Ryder Systems, National Association of Truck Stop Operators (NATSO), Rochester General Hospital, and Roswell Park.
Phil is a recipient of an honorary Doctorate of Commercial Science from Paul Smith’s College. He is the recipient of Camp Good Days and Special Times 1998 Teddi Award and RIT's 2005 Herbert W. Vanden Brul Entrepreneurial Award and 2017 Volunteer of the Year Award. Phil also received the Rochester Business Journal Icon award in 2018. He is a member of the Livonia Central School Athletic Hall of Fame and the National Association of Travel Centers Hall of Fame. Phil is a past inductee of the Rochester Business Hall of Fame.
E. Philip Saunders
Independent Director
Deborah J. McLean
Independent Director
Deborah J. McLean
Deborah J. McLean became an Independent Director of Royal Oak Realty Trust, Inc. in May 2022. Deborah serves as the Chairwoman of the Compensation Committee. Deborah spent her career with Nixon Peabody LLP (Nixon Peabody), most recently as Partner and Senior Counsel, from 1978 until her retirement in 2019.
At Nixon Peabody, Deborah concentrated in corporate finance, mergers and acquisitions, and securities law for both closely held and public companies. As the lead partner in equity and debt offerings and joint ventures for clients ranging from Fortune 500 companies to small businesses, she guided clients in the numerous details of preparing for, structuring, and executing corporate financings. Her background includes domestic and international mergers and acquisitions and joint ventures in a variety of industries from internet and telecommunications to manufacturing and distribution. Deborah also advised boards of directors of public and private companies on rights and duties in light of significant potential transactions and events.
Deborah was a member of the New York State Bar Association from 1979 to 2018, actively participating in the Corporations Committee of Business Law Section, as well as a member of the National Association of Real Estate Investment Trusts (NAREIT) from 2014 to 2018.
Deborah previously served as a member of the Board of Directors for the Allendale Colombia School and as a member of the Board of Trustees of Wells College. She is also a past member of the Leaders Build Advisory Board for Flower City Habitat for Humanity.
Deborah earned her Bachelor of Arts, magna cum laude, from Wells College in Aurora, NY and her Juris Doctor, magna cum laude, from Cornell Law School in Ithaca, NY
Deborah J. McLean
Independent Director
William C. Green
Director
William C. Green
William C. Green serves as one of the Asset Manager-nominated directors and was elected to the Board of Directors of the Corporation on May 18, 2018. Bill is a principal in the real estate firm Ginkgo Residential, an owner and manager of multi-family residential apartment units. Bill also serves as Chief Investment Officer for 17 Pembroke Advisors, a registered investment advisory firm he founded in 2017, focused on opportunities that converge traded securities with capital markets.
Prior to his participation in Ginkgo, Bill established the advisory firm Tannery Brook Partners, and later was a co-founder and Managing Member of Cazenovia Creek Investment Management, LLC and its broker dealer affiliate, Caz Creek Tax Lien Fund, LLC. Bill was employed at Starwood Capital Group from December 2007 until June 2009 where he was responsible for the debt investments transactions of the firm and for the Starwood Debt Fund II in 2008.
The majority of Bill’s early career was in the banking industry. He served as Global Head of Real Estate Capital Markets at Wachovia Securities for eight years helping to grow the firm into a leading provider of capital in the commercial real estate space. Preceding Wachovia, Bill was employed at Bank of America Securities where he founded and operated the Commercial Mortgage Conduit Program. Prior to these banking assignments, Bill gained eight years of real estate development and real estate finance experience in the greater New York area with both private and public firms.
Bill serves as the lead Independent Director on the Board of Directors of Arbor Realty Trust, Inc., a publicly traded REIT (NYSE: ABR) that specializes in commercial and residential lending. He also serves as Chairman of the Compensation Committee and as a member of the Audit Committee for Arbor. In addition, Bill formerly served on the Board of Directors of the Colleges of Hobart and William Smith.
Bill holds an MBA from the Stern School of Business at New York University and a Bachelor of Arts degree in Economics from the Colleges of Hobart and William Smith. Bill also holds a FINRA Series 65 license.
Bill resides in Charlotte, NC.
William C. Green
Director
Committee Members
Patrick C. Burke
Independent Member
Patrick C. BurkePatrick C. Burke became the independent member of the Asset Acquisition Committee in January 2014. He is the Managing Principal of the Burke Group, a Rochester, N.Y.-based advisory group founded by Pat in 1989. The Burke Group specializes in retirement plan consulting and administration, actuarial services and compensation consulting for corporate, non-profit, and public sector clients. Pat was Rochester Regional President of First Niagara Bank from 2005 to 2011. In addition, he is Chair of Burke Capital Group IV & V, a local private equity investment partnerships.
Pat holds a bachelor’s degree from Cornell University. He is active in community organizations and is Past Chairman of the Board of Lifetime Assistance Corporation, St. Ann’s Home, St. Ann’s Investment Committee and the Board of Trustees of St. Ann’s Home. He also serves on the Cornell University Dean’s Advisory Board and on the Advisory Council of Cornell’s Entrepreneurship and Personal Enterprise Program.
Patrick C. Burke
Independent Member
Asset Acquisition Committee
Robert Moore
Independent Member
Robert MooreRobert Moore became a member of the Asset Acquisition Committee of the Asset Manager in November 2017. Bob is co-owner of Moore Corporate Real Estate, Rochester, New York’s oldest commercial real estate brokerage firm established in 1969. He is recognized as one of Western New York’s leading commercial and industrial real estate professionals. Bob has a long history working with buyers of ‘mission critical’ industrial real estate. Bob has been involved in over $750 million of real estate transactions during the course of his 30-year career.
Bob is a lifelong resident of Rochester, NY and he holds a Bachelor’s degree from Rochester Institute of Technology. He also serves on the Board of Directors for the Greater Rochester Enterprise (GRE) and is a member of the Downtown Rochester Rotary and George Eastman Circle.
Robert Moore
Independent Member
Asset Acquisition Committee
