Agenda:
07:45 - 08:40 am - Invitation-Only LP Breakfast
Real Estate for the Long Term
Featured real estate performance experts discuss the drivers of returns in this important investment asset class.
Moderator:
Lori Campana, Partner, Monument Group
Speakers:
Judy McMahan, Portfolio Manager, Real Assets, UPS Investments
Aoifinn Devitt, Chief Investment Officer, Policemen's Annuity and Benefit Fund of Chicago
07:45 - 08:40 am - Invitation-Only CFO Breakfast
An invitation-only, off-the-record roundtable discussion among peers, looking at the key challenges facing chief financial officers and chief operating officers in real estate investment management firms today. Topics include the challenge of acquisitions in highly competitive markets, lender underwriting standards, and assessing new risks within CRE investing.
Moderator:
Tom Green, Partner, Assurance Lead, Great Lakes Region Lead, RSM US
Speakers:
Lara Forsman, CFO & COO, Rockbridge Capital
07:45 - 08:40 am - Networking Breakfast
08:45 - 09:30 am - Panel Discussion
Shining a Light Into Real Estate's Cloudy Outlook
Macroeconomic experts discuss and debate the factors that could impact real estate in the coming years.
Speakers:
Caroline McBride, Co-Founder & CIO, Forum Partners
Chris Niehaus, Partner, Head of US Business, GreenOak
Seth Singerman, President & Managing Principal, Singerman Real Estate
09:35 - 10:00 am - Keynote Interview
The Right Play in the Fourth Industrial Revolution
The CIO of one of real estate’s biggest investors discusses the revolution washing over the US industrial and logistics space, where demand for “last-mile logistics” is being influence by artificial intelligence, self-driving vehicles and the complexities of urban infill. Any long-term investor in the industrial space needs to hear the investment analysis from Kevin Traenkle.
Speakers:
Kevin Traenkle, Executive Director, Chief Investment Officer, Colony Capital
10:00 - 10:35 am - Panel Discussion
What the Private Market Can Learn From REITs
REITs are often seen as a leading indicator of private real estate values. What does the current state of the market tell us about private equity real estate strategies? Are these liquid instruments a better bet than long-term partnerships? Market experts discuss volatility in the REIT market and what this has typically meant for the near-future of private real estate.
Moderator:
Brian E. Davis, Partner, Mayer Brown
Speakers:
Paul Vosper, Executive Vice President, PIMCO
Adriana de Alcantara, Senior Director/Head of Separate Accounts, TH Real Estate
Michael Yang, Research Consultant, Real Assets, NEPC
10:35 - 11:05 am - Morning Network Break
11:20 - 12:25 pm - Morning Break Out Session
Each 30-minute breakout session happens twice, allowing delegates to attend two.
Breakout A: Redefined Core Redefines the Exit Market
Record-low interest rates have sent investors in search of yield, changing many investor expectations around the performance of core. At the same time, inflows of capital to tier-one cities is compressing cap rates. What does this mean for private equity real estate firms and their ability to exit assets?
Speakers:
Jon Gelb, Director, Clarion Partners
William Bowman, Managing Director, NorthStar Asset Management Group
Breakout B: Will Sidelined CMBS Create a Funding Gap?
At its peak, the CMBS market accounted for 24 percent of the commercial mortgage universe. Today, that figure is just 18 percent. As the private-label securitization world hobbles along, industry experts worry that a slow-down in issuance will severely impact lending to small and mid-sized properties as well as secondary and tertiary markets. What's in store for local neighborhood stores and three-story office properties in non-gateway markets and how will reduced CMBS volume impact players in the private real estate asset class? Is 2016 the year when CMBS delinquencies are set to rise? How will the commercial real estate industry as a whole deal with the $300B of 2005-2007 vintage CMBS loans coming due?
Speakers:
Peter Sotoloff, Managing Partner & Chief Investment Officer, Mack Real Estate Credit Strategies
Jeff Friedman, Co-Founder, Mesa West Capital
Michael Schwartz, National Real Estate Consulting Lead, RSM US
Breakout C: State of the RE Secondaries Market
What is the market like for those wishing to ‘trade out’ of their long-term real estate limited partnerships? What does pricing look like? What kinds of buyers are on the hunt for pre-owned real estate partnerships? Are GP restructuring as much of a factor in real estate as they are in private equity currently?
Speakers:
Philip Barker, Senior Managing Director, CBRE
James Sunday, Partner, Landmark Partners
12:30 - 01:40 pm - Lunch
01:00 - 01:40 pm - Multi-Media Interactive Session
Generational Smackdown: Millennials vs. Baby Boomers
What kind of office and residential real estate will be demanded by Millennials, the largest-ever US generation? Where will Baby Boomers live and shop as they age? Where is long-term capital best deployed? Our panel of experts will discuss and debate these issues and respond to audience questions, as well as, video factoids. A distinguished panel of expert GPs and real estate luminaries are presented with key facts about the Millennial and BabyBoomer generations and they debate and discuss the implications for various real estate food group investment considerations. Videos, audience participation. Fun.
Moderator:
Gunnar Branson, President & CEO, NAREIM
Speakers:
Denise Olsen, Senior Managing Director and Investment Committee Member , GEM Realty Capital
Neville Rhone, Co-Founder, Managing Partner, Arc Capital Partners
Daniel Roehl, SVP, Enterprise Sales, RealPage
02:05 - 03:10 pm - Afternoon Breakout Sessions
Each 30-minute breakout session happens twice, allowing delegates to attend two.
Breakout A: GP Operations in the Age of SEC Compliance
The business of being a private fund manager continues to become more expensive, complicated and fraught with risk. And yet the bright side is that compliance is an opportunity for a firm to show a culture of excellence. What are the latest trends in GP operations and compliance?
Moderator:
Tom Green, Partner, Assurance Lead, Great Lakes Region Lead, RSM US
Speakers:
Tom Feldstein, Chief Operating Officer & General Counsel, GTIS
Doug Cornelius, Chief Compliance Officer, Beacon Capital Partners, LLC
Lindsey Simon, Founder, Simon Compliance
Breakout B: Fundraising Disrupted: Foreign Capital and HNW Bundling
Fundraising remains robust for private real estate, and yet long-term changes are under way that will change the capital capital is formed for investing, and those GPs that fail to plan for these changes may find future fundraisings challenged. A panel of experts discusses the rise of non-US investors, changes to US public pensions that may divert capital, and the rise of feeder funds and bundled high-net-worth capital as sources of investment dollars.
Speakers:
Nathan Paine, Senior Vice President, Client Relations, Prologis
Terrell Gates, JD, Founder & CEO, Virtus Real Estate
Breakout C: Deal Structuring – What Are Today’s Top Deal breakers?
How are the best dealmakers structuring their transactions in today’s market? What financing is available and how are various partners to a deal aligning interests? Critically, what deal terms amount to “deal killers?”
Speakers:
Neil Furmanski, Partner, RSM US
Jay Eisner, Founding Partner, LEM Capital
David Rosenbaum, Managing Principal, WHI Real Estate Partners
03:10 - 03:40 pm - Afternoon Networking Break
03:45 - 04:20 pm - Panel Discussion
Reengineering the Investor-Manager Relationship
As private equity and private real estate managers come under growing scrutiny over the way they structure—and are compensated—for doing business, Privcap asks how the industry is trying to better align LP and GP interests and whether the status quo can be sustained? Is transparency the answer or do managers need to offer greater economic alignment to institutional investors? Does fund structure need to change, with shorter or longer investment horizons? Do independent directors work and, most importantly, are LP returns commensurate with fees? Latest trends in capital formation, separate accounts, co-investments, in-house LP resources.
Moderator:
John Ferguson, Partner, Goodwin
Speakers:
Drew Ierardi, Managing Director, Exelon Corporation
Ted Leary, Founder, Crosswater Realty Advisors
04:20 - 04:40 pm - Afternoon Keynote
The Future of Retail Real Estate
A fascinating fireside chat with one of the biggest property investors in the World.
Speaker:
Michael Berman, Chief Financial Officer, General Growth Properties
04:45 - 06:00 pm - Cocktail Networking
To Download a Copy of the Agenda - Game Change: Real Estate 2016 Brochure.pdf