CRE: Midyear Meetings - Featured Programs

Overview · Midyear Meeting · High Level Conference · Annual Convention ·
Chapter & Regional Events

FEATURED PROGRAMS

Additional session topics and speakers are still being added, please check back often.

MONDAY, MAY 24

Economic Outlook

What does the future hold? At a time when many economists predict improvement, short-term conflicting data clouds the view and makes it difficult to see beyond a quarter, let alone to the end of the year and beyond. This session will present the most important indices and assess their impact on the economy, the markets and real estate. You’ll gain insights from Asieh Mansour, Ph.D., Managing Director, Chief Economist and Strategist, RREEF (a Member of Deutsche Bank Group). How will you, your business and your clients be affected by shifting conditions that affect housing, retail, leasing, valuations, and employment? Will there be a “double-dip” recession? Expect lively dialogue that addresses the most current conditions and outlook, and bring your questions for discussion. Moderator: Joseph G. Nahas Jr., CRE, Vice President, BPG Properties, Ltd.

Credit and Workouts: Trends, Strategies and Implications

In partnership with the American Council of Real Estate Lawyers (ACREL), this session will feature a panel of experts directly involved in commercial loan workouts. From addressing how deals are being restructured and what it takes to complete them to the role of diverse articipants including appraisers, attorneys, bankers and advisors, panelists will address the impact of workouts on all parties involved and how Counselors can be of service in this highly demanding and evolving area. Panelists include: David Tang, Managing Partner, Asia, K & L Gates LLP; Cynthia Thomas, Partner, Real Property Law Group PLLC; Gary Fluhrer, Partner, Foster Pepper PLLC. Moderator: Mark Mehlman, Partner, Sonnenschein Nath & Rosenthal LLP.

FAS - Talking: Unpack the Real Estate Impact on Financial Statements

Concern is spreading throughout corporate finance and real estate departments as a result of the FASB and IASB’s Discussion Paper: Leases: Preliminary Views,” which addressed recording operating leases on the corporate balance sheet. The projected bottom-line impact of this proposed standard is estimated to be well over a trillion dollars to U.S. corporations alone. Corporations hardly need another setback in reporting their financial position. However, as a result of efforts to create better financial transparency and institute other compliance safeguards, accounting boards and government regulators may generate another round of balance sheet blows and earnings impacts in the process. Join Todd Anderson, Senior Managing Director, CB Richard Ellis who will explain the implications of the modification to the Statement of Financial Accounting Standards No.13: Accounting for Leases.

DEVELOPMENT TOUR: South Lake Union

Bordering on Seattle’s central business district, South Lake Union has become “the new hot spot in Seattle.” In the past decade, nearly $3 billion in private and public investment has created 7 million square feet of sustainable office, residential, life sciences and retail facilities, along with a waterfront park and a new streetcar line. Meet representatives from Vulcan, Inc., the area’s leading developer who will provide information about the area’s growth. The stops are:

• South Lake Union Discovery Center – viewing of a model of the entire South Lake Union neighborhood and hear about the overall vision for the area, progress to date and what comes next. Attendees will walk to 2200 Westlake to see the plaza level and 2201 Enso and Rollin Street flats.

• UW Medicine at 815 Mercer Street. This area is triangulated by tenants Fred Hutch, the Gates Foundation and PATH. In the center is the University of Washington’s medical research campus showing an adaptive reuse of a former office building and sustainably designed construction. Attendees will also view the Veer Lofts.

• Amazon Phase 1a – 420 Terry Avenue N. The group will visit Amazon.com’s headquarters building, which is the largest lease in Seattle’s history at 1.7 million square feet. The tour includes the Westlake/Terry office building, Seattle Biomed and the 401 Terry Life Sciences research building.

• Alley 24 –This project is one of Seattle’s first mixed-use projects to earn LEED certification. It includes office and apartments and the preservation and renovation of a historic structure with ground level retail. The tour also includes the renovated Cascade Park and Alcyone Apartments.

With commentary by representatives of Vulcan Real Estate: Ada M.Healey, Vice President, Real Estate; Scott Matthews, Director, Acquisitions; Sharon Coleman, Director, Development and Lori Mason Curran, CRE, Director, Investment Strategy.

TUESDAY, MAY 25

The U.S. in 2030: The Spatial Implications of Economic and Demographic Trends

From the perspective of urban economics and spatial markets, Mary Ludgin, Ph.D., Managing Director and Director of Global Investment Research, Heitman LLC, offers a timely look at the most critical issues confronting U.S. real estate developers and investors over the next 20 years. The session will examine the spatial consequences of global economic forces, information technology, environmental issues, social equity and global competition, particularly the growing influence of the Chinese economy and the global consumer. What are the challenges confronting American cities and regions in light of shifts in the global economy? Which cities will emerge as the management or logistics centers of the world? Because some of these trends are already playing out today, this session will also explore which U.S. metropolitan areas will lead the economic recovery, which will lag over the next two decades, and why.

Real Estate Investment Management

This session will address how Counselors can better position themselves and their organizations to meet the evolving needs of the investment management industry and the investors it serves. Additionally, panelists will address the difficult questions plaguing the markets in an environment where the business models of the past no longer hold true and changing dynamics will have significant implications across all real estate asset classes. Panelists will address questions such as: How will capital be accessed? Who will be the winners and losers as the inevitable hand of the capital markets determines the survival of the fittest? Will new performance measurements emerge? And will there be better alignment of interests between investment sponsors and their investors? Panelists include: Arthur P. Pasquarella, CRE, Executive Vice President and Chief Operating Officer, BPG Properties, Ltd. and Geoffrey Dohrmann, CRE, President, CEO, Institutional Real Estate, Inc. and Mark Roberts, CFA, Global Director of Research, Invesco Real Estate and Devon Olson, CRE, Director, Real Estate, Utah Retirement Systems. . Moderator: William L. Ramseyer, CRE.

Lunch Session: Retrospectives of an Industry Icon

Frequently called the father of the real estate investment industry, Blake Eagle, Senior Advisor to the National Council of Real Estate Investment Fiduciaries (NCREIF), will provide a fascinating 40-year retrospective during Lunch on Tuesday. He led the formation of NCREIF – seeking to improve commercial real estate data, performance measurement, investment analysis, and information standards – and, in the process, formed stronger ties between the real estate research community and the industry. His efforts resulted in the establishment of the flagship NCREIF Property Index (NPI), which institutionalized the real estate asset class, and, for years, he has selflessly mentored colleagues and students alike to build a stronger real estate investment industry. Don’t miss this opportunity to hear a true visionary and a tireless champion for the betterment of our industry as he shares insights about the beginnings of institutional real estate investment, its evolution, its current state today and his predictions for the future.

U.S. Real Estate Market Conditions: The Good, the Bad, and the Ugly

Real estate is inherently local, and market conditions vary widely across the U.S. Stan Humphries, Ph.D., Chief Economist, Zillow.com will review national real estate market performance and then focus on specific local markets to provide insight into how the housing recession is playing out on the local level. He will also describe challenges still facing the residential housing sector, when to expect a recovery, and what that recovery may look like.

Conquering the Divide: The Passage to Capital

As the era of “extend and pretend” may be drawing to a close, real estate investors are beginning to adjust prices to the new underwriting and economic realities of this environment. Debt and equity capital is available, although the buyer composition is changing and a bid-ask gap continues as underwriting remains stringent and capital is skittish. When and how real estate transactions will find solid footing, and when the capital markets should normalize will be addressed — and who will be the “winners?” Panelists including James J. Curtis III, CRE, Managing Partner, Bristol Group, Inc. and Don Guarino, CRE, Vice President and Chief Appraiser with AEGON USA Realty Partners will share insights on how those with capital to invest are viewing commercial real estate investments as well as the new pricing metrics and realities. MODERATOR: Kenneth P. Riggs Jr., CRE, President, CEO, Real Estate Research Corporation.

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