7:30 AM
Registration and Breakfast is Served Courtesy of:

8:25 AM
Welcome Remarks from IMN
8:30 AM
Macro-Economic Debate 2017: Is the CRE Bubble About to Burst?

Our panelists, representing a mix of bearish and bullish perspectives, battle out the all-important question: Will the CRE bubble burst in 2017?

  • Fundamentals first! Is the US economy headed for another downturn? Can the economy keep growing at its current rate? Assessing true fundamentals vs. CRE pricing
  • The new Administration: Good, bad or indifferent for CRE investors?
  • Interest rates: Will they remain low for the long term or spike in the near term?
  • Brexit: To what degree will this increase capital flows to US CRE, particularly from the Middle East and Asia? What opportunities does it open/close in European CRE?
  • China’s slowdown: How is it impacting the US CRE market?
  • Oil in 2017 and its impact on CRE investment: Discuss
  • The 2017 outlook for global economic/political instability/volatility: What will be the impact on CRE investment in the US and internationally?

Robert Ivanhoe

Chairman, Global Real Estate Practice
Greenberg Traurig, LLP

Jeffrey Havsy

Chief Economist
CBRE Americas

Peter Ciganik

Managing Director
GTIS Partners

Greg Nelson

Director Investments
Loma Linda University Foundation

Kevin Shannon

President of Capital Markets for West Coast
Newmark Grubb Knight Frank

Peter Muoio

Chief Economist
9:15 AM
State of the Industry & Fund Market Update 2017
  • The Fed has warned of vulnerabilities building within CRE: What is your take on this? With CRE prices hitting historical peaks in 2016, what can we expect in 2017? With there still being a flood of capital and investors opting for safety, are we heading towards an asset/valuation bubble? Where are we in the cycle? Will cap rates go up in 2017? Is the CRE market in the ninth inning?
  • What mini-bubbles are brewing and in which sub-markets? Tech? Apartments?
  • What’s the overall CRE investment sentiment for the next 12 months and what factors are influencing this? Transaction volume: What to expect? What will be the main drivers/inhibitors in 2017? What are realistic IRRs for core/value add/opportunistic today?
  • What impact is greater oversight from the SEC and the cost of regulatory compliance having on fund managers? How are they adapting?
  • How much institutional capital is now out there for CRE and where is it coming from? What fund investment strategies are having a tough time raising capital? Which are attracting investors? Will foreign capital flows into US CRE continue at the same rate?
  • Deal-by-deal structure or fund? Open-end vs. closed-end fund?
  • Fund models: Where are they heading? Implications? What further trends can we expect?
  • Exits: Will more funds go public this year? Manager M&A: Are we in a continued consolidation phase?

David Kessler

Partner, National Director-Commercial Real Estate
CohnReznick LLP

Warren de Haan

Managing Partner
ACORE Capital

Kim Hourihan

Senior Managing Director
CBRE Global Investors

Sean Dalfen

President & Chief Investment Offiicer
Dalfen America Corp.

Jim Sullivan

Green Street Advisors

Sujan Patel

Co-Head of US Investment Management
Colony NorthStar
10:00 AM
Fund Structuring: Market Trends
  • GP alternative structure/co-investment flexibility & related fees 
  • GP indemnification, obligations and liability standards
  • ERISA, UBTI, Dodd Frank, JOBS Act, CFTC Commodity Pool Operator & Volcker Rule: Compliance and exemptions
  • Key principal/employees carried interest participations & time commitments
  • LP/Preferred deferred promotes/catch up distributions, take control, most favored nation & advisory board rights 
  • Carried interest, asset management & other fees/fee waivers 
  • Pooled vs. deal by deal distributions, clawbacks and escrows 
  • Exit Strategy and default remedies 
  • Advisory board appointment/observer rights, self-help remedies

Sandy Presant

Chair, Real Estate Fund Practice Group
Greenberg Traurig, LLP

Barry Chase

Managing Principal and CEO
Belay Investment Group

Jonathan Romick

General Counsel and Chief Compliance Officer
GEM Realty Capital, Inc.

Vivek Seth

Head of Real Estate Investment Banking
Raymond James & Associates, Inc.

Michelle Wells

Head of Investor Relations

Steve Jasa

CFO-Investment Management Group
The Wolff Company
10:45 AM
Networking Break Courtesy of:

11:15 AM
Core/Core+ Vs. Value Added Vs. Opportunistic in 2017: Case Studies in the Economics of Deals Today

This session addresses the economic realities of different CRE deals today – new development, acquisitions, redevelopment, refurbishment - across asset types/markets. In analyzing the economics of these deals, and the approaches they took, we will also trouble-shoot key obstacles encountered, overall lessons learned and summarize key take-aways.

Ken Muller

Partner / Co-Chair PE Funds
Morrison & Foerster LLP

John Livingston

Chief Executive
AECOM Capital

Allan Sternberg

Angelo, Gordon & Co.

Jonathan Epstein

Managing Director
GreenOak Real Estate

Christopher McGrew

President and Chief Investment Officer
Parmenter Realty Partners

William Shopoff

Shopoff Realty Investments L.P.
12:00 PM
What’s Selling & Who’s Buying in 2017? Disposition Trends/Strategies Roundtable
  • Is now a good time to sell? Knowing when to sell/when to hold
  • What’s selling/what’s not?
  • Who is looking to buy? Foreign investors? 1031?
  • What does it take to make your property attractive to a prospective buyer in the current market? How to position yourself?
  • What are successful property marketing strategies today?

Jesse Sharf

Gibson, Dunn & Crutcher, LLP

Louis Friedel

Angelo, Gordon & Co.

Brian Eisendrath

Vice Chairman

Kevin Shannon

President of Capital Markets for West Coast
Newmark Grubb Knight Frank

Mark Jacobs

Managing Director
Oaktree Capital MGMT LLC

Camille Renshaw

Executive Managing Director- Head of Institutional Group

Mark Stern

Senior Vice President - Multifamily Acqusitions
Waterton Associates LLC
1:00 PM
Buyer/Seller Meet Up & Business Card Exchange

Directly after the dispositions roundtable CRE executives looking to buy/sell CRE have the opportunity to meet and exchange business cards in an informal setting geared towards making business connections.

1:30 PM
Wednesday Sessions Conclude
6:00 PM
Welcoming Reception Courtesy of:

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