US Real Estate Opportunity Fund Investing
New York, NY
June 12-13, 2014

Description

ONE Real Estate Networking Event to Attend...

Join us again and 1000+ opportunity and private funds, LPs and service providers at IMN's U.S. Real Estate Opportunity & Private Fund Investing Forum, the industry's annual conference, as we assess the previous year with a view to mapping a strategic course for this year. Providing a chance for the Real Estate Opportunity Fund Industry to meet, this conference will address the most pressing issues at the core of the industry and is a must-attend event.

Part of IMN's highly acclaimed series of Real Estate Opportunity Funds events, this conference is dedicated to providing an unparalleled educational and networking vehicle for the Fund, Developer and LP communities.

A Snapshot Of Our 2013 NY Event:

  • 1025+ Registrants
  • 250+ Speakers
  • 450+ Funds, LP & Pension Consultants
  • 44 Panel Sessions
  • 60+ Sponsors/Exhibitors


Who Should Attend

 

Conference Highlights

Networking

To utilize our online networking platform, you must be registered for conference and signed-in

Sign-In

My Agenda

  • To view your agenda you must be signed in Sign-In

Agenda

    Day One: Thursday, June 12, 2014

      7:32 PM
      Registration… Breakfast Courtesy of



      7:32 PM
      Opening Remarks by IMN & Conference Chair:



        • Bruce Stachenfeld, Managing Partner (Duval & Stachenfeld)

      7:32 PM
      Economist Keynote: In Light of the Changes in the Market are Inflation Expectations too High?



        • Peter Linneman, Principal (Linneman Associates)

      9:05 AM
      State of the Fund & Real Estate Industry

      • • Impact of SEC filings & other new regulations • Fund-of-funds, consultants and LPs • The GSE’s: Anything new? • What is the downside? • Pending debt maturities • Do you expect a round of consolidation? • Working with small funds • E-commerce impact • The rise of the secondary market • International $$ coming into the US • Impact of rising cap rates • Are you expanding into debt? • International investments • Return expectations

        • Robert Ivanhoe, Chairman, Global Real Estate Practice (Greenberg Traurig, LLP)
        • Adam Brooks, MD, Real Estate Investments (AllianceBernstein)
        • Randy Zisler, Chief Investment Officer (Encore Enterprises)
        • Leslie Wohlman Himmel, Partner (Himmel + Meringoff Properties)
        • Robert Dombi, Partner (Landmark Partners)
        • Leonard Klehr, Vice Chairman (Lubert-Adler Partners, LP)
        • Joseph Sitt, President (Thor Equities, LLC)

      10:05 AM
      Refreshments Courtesy of



      7:32 PM
      The Large Fund Panel… What are the Risks that you are Taking in this so Called Growth Environment?

      • • The slope of the yield curve and what it means for CRE • Which sectors are over-heated? • Global vs. secondary cities? • Are there enough deals for all the capital available? • Construction • New asset types you are considering • How are you playing the rolling recovery… What are you rolling into? Rolling out of? • Buying from the government • Residential… Is there still value? • Taking advantage of the US energy sector

        • Marc Davidson, Managing Director and Portfolio Manager (AEW Capital Management, L.P.)
        • Reid Liffmann, Managing Director (Angelo, Gordon & Co.)
        • Tom Shapiro, President & CIO (GTIS Partners)
        • Todd Bassen, Director-Acquisitions (Invesco)
        • Justin Guichard, Managing Director (Oaktree Capital Management)
        • Matt Gross, Principal (Walton Street Capital, LLC)

      7:32 PM
      Where Should you be… Reassessing Core vs. Value-Added vs. Opportunistic Investing for 2015

      • • The changing picture of risk/return for different styles • Comparing leverage levels • Looking at oxymorons… core development, core secondary markets • Current risk/return objectives • Future performance predictions • Definining core +

        • David Kessler, Managing Partner (CohnReznick LLP)
        • Michael Happel, Managing Director (American Realty Capital)
        • Josh Cleveland, Partner (StepStone Group LP)
        • Paul Vosper, COO and Co-Head-Real Estate (Morgan Stanley Alternative Investment Partners)
        • Robert Gray, Managing Partner (TerraCap Management)
        • Bahram Motamedian, Managing Director (USAA Real Estate Company)

      7:32 PM
      Luncheon Courtesy of



      Please Choose "A, B or C"



      7:32 PM
      Fundraising… Are the Headwinds Easing a Bit?

      • • Fundraising for non-commingled funds… Has it continued to rise? • Syndication vs. fundraising • Being successful with a dual fundraise • Success of funds expanding their strategy from their last mandate • How long can you expect to be in fundraising mode? • First time fundraising environment • Sector specific vs. more general funds • Think different… How important is it in an investment strategy?

        • Michael Glazer, Partner (Goodwin Procter LLP)
        • Michael Happel, Managing Director (American Realty Capital)
        • Rayenne Chen, Principal, Director of Investor Relations (Exeter Property Group)
        • Frank Wuest, Division President (Forest City Enterprises)
        • Ronald Dickerman, President & Founder (Madison International Realty)
        • Alan Pardee, Managing Partner (Mercury Capital Advisors)

      7:32 PM
      Fund-Fund Joint Ventures

      • • Tax-efficient structuring • Choosing the form of entity • Joint ventures with non-US partners • Control issues, dispute resolution and the decision making process • Capital contributions if additional capital is needed • Exiting fund investments

        • Dennis Russo, Chair of New York Real Estate (BakerHostetler)
        • Gregg Bloomberg, Partner (CohnReznick LLP)
        • Michael Gallerstein, Principal (Equity Resource Investments)
        • Jason Maxwell, General Counsel (Hines Advisors Limited Partnership)
        • Charles Harrison, President (REIT Funding, LLC)
        • John Balboni, Partner (Sullivan & Worcester LLP)

      7:32 PM
      Industry Consolidation & Take Private Deals: What is Happening that is Not in the Headlines?

      • • What is triggering the consolidation? • Cost of expanding internally vs. externally vs. other options • Multiple parties buying one • Looking at international partners • Are large sponsors looking to reduce their number of advisors? • Unintended consequences to be aware of • Sale to REITs • Acquiring a joint venture partner’s interest

        • Joseph Smith, Partner (Schulte Roth & Zabel LLP)
        • Caroline McBride, Co-Founder and Chief Investment Officer (Forum Partners Investment Management LLC)
        • Tyler Morse, Chief Executive Officer (MCR Development LLC)
        • Doug Lee, Managing Director and Head of Capital Market (ExcelCore)
        • Bob Sonnenblick, Chairman (Sonnenblick Resorts LLC)

      7:32 PM
      Acquisition Due Diligence for Individual Properties and Portfolios

      • • Do you perform a worse-case analysis? • Figuring out what you don’t know and what’s not there • Due diligence on partnerships • The best deal you walked away from • Due diligence on 100s of loans quickly • Pricing • Government portfolios • Loans vs. property

        • Jordan Metzger, Member (Cole Schotz, PC)
        • Andrew Borsanyi, Principal (The Concord Group, LLC)
        • Todd Eisner, Real Estate Partner (Duval & Stachenfeld)
        • Neal Johnson, CEO / CIO (Hunter Street Partners)
        • Jeffrey Alpaugh, Managing Director, Global Real (Marsh & McLennan Companies, Inc.)
        • Christopher Schlank, Managing Partner & Co-Founder (Savanna)
        • Jason Baker, Acquisitions Director - Eastern Region (STRS Ohio)

      The Financing/Debt Discussions at IMN’s Opportunity Fund Forum

      • See the latest private fund real estate financing strategies at The Financing/Debt Symposium at IMNs Opportunity Fund Forum will be. The next 7 sessions, all related to investing in fixed income or underwriting real estate debt will be taking place in track “B”. If you are a debt provider, broker, fund or investor & want to meet the top funds and hear how they are financing or providing debt this is a must attend plenary

      7:32 PM
      Bridge Loans & Other High Yield Lending on Transitional Properties, Deals with a Value-Added Component, Secondary & Tertiary Markets

      • • Are you seeing competition from banks on any of your high-yield products? • Are funds entering this space dropping rates? Where have they dropped too much for your comfort? • Where and what food groups are your sweet spots? • Is there any high yiel

        • Thomas O'Connor, Partner (Duval & Stachenfeld LLP)
        • Roger Cozzi, Managing Director & Head of Real Estate Credit (Carlyle)
        • Dan Hartman, Principal (Ares Management, LLC)
        • Jerry Dunn, Chief Executive Officer and Principal (A10 Capital)
        • Patrick Walsh, SVP, Commercial and Industrial Lending (Axos Bank)
        • Brett Forman, President (Forman Capital, LLC)
        • Sujan Patel, Founder and Managing Principal (Nantam Capital)

      7:32 PM
      Hotels: Where will you be investing in 2015?

      • • How much of your fund invests in hotels? Do you see this level increasing? • Fundraising outlook for hotels • Performance of hotel investments • Where do you see the greatest opportunities for hotel investment? Domestic vs. international plays • Product type… Are you looking towards high end vs. mid-market? • Opportunities in funds financing and recapitalizing hotels

        • Deborah Friedland, Director - Hospitality Services (EisnerAmper LLP)
        • Ali Elam, Managing Director (Fortress Investment Group)
        • Austin Khan, Chief Investment Officer (Ethika Investments, LLC)
        • Clark Hanrattie, Partner & Chief Financial Officer (HEI Hotels & Resorts)
        • Jeffrey Dauray, Senior Vice President-Acquisitions (RLJ Lodging Trust)
        • Christopher Diffley, Managing Director (RockBridge Capital, LLC)

      7:32 PM
      Gaining Access to Foreign Capital: Including EB-5-Related Fundraising

      • • How are you reaching foreign investors? • Are AIFMD compliance important? • EB-5 Financing • FIRPTA considerations • Catching the big fish… How to approach a Sovereign • Shariah compliant structures • The joint venture structure • Accessing Latin capital… Can it work outside of South Florida? • EB-5… What qualifies? • Role of EB-5 “finders”

        • Ali Jahangiri, President (EB5Investors.com)
        • George Ekins, Principal (American Dream Investment Holdings)
        • David Hirson, Partner (Fragomen, Del Rey, Bernsen, and Loewy LLP)
        • Ishan Singh, Managing Director (REV-Re Capital Ventures)

      7:32 PM
      New Mezz Loan Origination/Borrowing

      • • How do you look at construction vs. acquisition vs. recapitalization • What won’t you finance? • Distinguishing yourself in an increasingly competitive market • 2014… Working with senior lenders • Are you selling any of your loans? Why?

        • Mark Fawer, Partner (Arent Fox LLP)
        • Christopher Reilly, Head of Debt Origination (Brookfield Real Estate Financial Partners, LLC)
        • James Henderson, Managing Director-Alternative Investments Group (Cornerstone Real Estate Advisers LLC)
        • David Broderick, Partner (Latham & Watkins)
        • Richard Mandel, President (Ramsfield Hospitality Finance)
        • Seth Singerman, President (Singerman Real Estate, LLC)

      7:32 PM
      Joint Ventures… Today’s Deals

      • • LP vs. Partner interests • Construction partnerships • Waterfalls and current terms • Did the downturn expose a laxness in due diligence and documentation? • Is operational due diligence becoming a more prominent feature at the front end of partnership negotiations? • What are you doing to monitor your partner? • Have you implemented an anti-corruption program? • Non-U.S. partnerships • Evaluating a manager’s performance • What kind of cost leakages have you seen from partners? How can you prevent them?

        • Terri Adler, Chair of the Real Estate Practice Group (Duval & Stachenfeld)
        • Allen Ashley, Partner (DLA Piper)
        • Jason Pantzer, Co-President (Pantzer Properties, Inc.)
        • Jon Haahr, Founder & Senior Managing Principal (Silver Portal Capital)
        • Jordan Socaransky, Principal (Westport Capital Partners, LLC)

      4:05 AM
      FIFA World Cup Afternoon Refreshment Break, Courtesy of:

      • Join us in the exhibit hall for caipirinhas and soccer as hosts Brazil tackle Croatia live from Sao Paolo in the tournaments opening match

      7:32 PM
      Fund Structuring

      • • Current waterfalls (pooled) and fees for GPs • Fund JVs using separate accounts (opt-in clubs/ROFOs) • Flexibility in exit strategies • Side letter terms • Fund and investment period duration • GP exclusivity • GP co-invest requirement • Tax blocker structure flexibility (UBTI, ECI, REITs) • Reinvestment of proceeds •Distribution verification by accountants • Other new advisory committee demands

        • Sandy Presant, Chair, Real Estate Fund Practice Group (Greenberg Traurig, LLP)
        • Josh Carper, Executive Director, Finance (Greystar Real Estate Partners)
        • Chris Flick, EVP (PIMCO)
        • Peter Fish, Managing Director-Inv. Banking (Raymond James & Associates, Inc.)
        • Devon Archer, General Partner (Rosemont Realty)
        • Steven Jasa, Vice President, Investment Management (Western National Properties)

      7:32 PM
      Pending Debt Maturities… What is your Strategy for Loans Coming Due from the Class of 2005-6?

      • A tsunami of maturities is now upon us, with about $1.7 trillion in loans coming due during the next 3 years. Many believe banks are not likely to extend more and borrowers will need alternative sources to refinance or recapitalize before rising interest rates get out of control. How can you take advantage of this once in a lifetime opportunity?

        • Marshall Brozost, Partner (Schulte Roth & Zabel LLP)
        • Tim Johnson, Managing Director (The Blackstone Group)
        • Gil Tenzer, Partner & Director of Real Estate (Contrarian Capital Management, LLC)
        • William Landis, Founder (Raith Capital Partners)
        • Michael Maturo, President (RXR Realty)
        • Bruce Batkin, President & CEO (Terra Capital Partners, LLC)

      The LP Plenary at IMN's Opportunity Fund Forum

      • High-Net-Worth, Private Banks, Family Officers, Fund-of-Funds, Pension Funds, Endowments & Foundations don’t miss the sessions dedicated to the LP by the LP. At the LP Plenary you will be presented with the key issues when evaluating and investing in real estate private funds. The LP Plenary at IMN’s Opportunity Fund Forum will be a separate track during IMNs Opportunity Fund forum and all opportunity fund attendees are eligible to attend. If you are an LP or want to hear they have to say this is a must attend plenary. The LP Plenary will be taking place for the next 5 sessions on track “C”

      7:32 PM
      LP/GP Relations… The Alignment, The Fee, The Promote and the Incentive

      • • Aligning Interests • Managing conflicts of interest • What are fair margins? • Fees for core vs. value-added • Largest issue, postfund formation • Follow-on funds •Management fees • Addressing conflicts of interest that do/should come up • Pre-2007, terms negotiating power was disproportionately in the managers’ favor, that shifted in 2009, where is it today? • What levers do we rely on to drive terms? Trade management fee for promote, promote for catch-up? • Where does transparency need to improve?

        • Claiborne Johnston, Managing Director (Invesco Real Estate)
        • Jahn Brodwin, Senior Managing Director (FTI Consulting)
        • Jeff Kanne, President & CEO (National Real Estate Advisors, LLC)
        • Adam Lesnick, Counsel (Seward & Kissel LLP)
        • Bernie Werner, Managing Director (Transcendent Investment Management)
        • Brooks Blake, Partner, Investments (Verdis Investment Management)

      7:32 PM
      Foreign Fund Structures for LPs & GPs

      • • Structural issues around FIRPTA • Structuring EB-5 into a fund • Sovereign wealth fund preferences • What you need to know about China • Joint venture partnerships • Latin American complexities • Parallel funds

        • Stephen Land, Partner (Duval & Stachenfeld)
        • Bryan Colwell, Co-Founder/Managing Partner (LCN Capital Partners)
        • Gregory Fournier, Managing Principal (Greenbrook Partners)
        • David Warburg, Partner (Seyfarth Shaw LLP)
        • Michael Schwartz, Director (WeiserMazars LLP)

      7:32 PM
      Financing Small Deals

      • • Are the small banks getting more aggressive? • Using SBA programs • Non bank and hard $$ lender terms • Using brokers • Exploring financings new frontiers: EB-5 Financing, crowdfunding, ifunding and the road ahead

        • Andy Stewart, Managing Partner (Argosy Real Estate Partners)
        • David Manshoory, Founder & CEO (AssetAvenue, Inc.)
        • TR Hazelrigg IV, President (Avatar Financial Group)
        • Darren Powderly, Co-Founder (CrowdStreet)
        • Jilliene Helman, Chief Executive Officer (RealtyMogul)
        • Georgia Quinn, Associate (Seyfarth Shaw LLP)

      7:32 PM
      Evaluating the Role of the Consultant

      • • The LP perspective • Consultant or money manager? • How investment consultants can be a useful tool to GPs • How are you used by different investors? Large vs. small • Do you function as the LP CIO? • How do you evaluate a new fund? A debt fund? • Who do you recommend do separate accounts and club deals?

        • Robert Insolia, Managing Partner (Goodwin Procter LLP)
        • Poorvi Parekh, President and Chief Executive Officer (Canterbury Consulting)
        • Joseph Wilhelm, III, Trustee (Joseph A. Wilhelm III)
        • Stuart Elizabeth Baldwin, Principal (Hodes Weill & Associates)
        • Leslie Greis, Managing Member (Perennial Capital Advisors, LLC)

      6:05 AM
      Networking Reception Courtesy of

      • IMN will be offering delegates a pair of free Maui Jim sunglasses during the Networking Reception.



      7:05 AM
      Day One Concludes



    Day Two: Friday, June 13, 2014

      7:32 PM
      Breakfast for All Closed-Door Attendees Courtesy of



      7:32 PM
      Closed Door, Vegas-Rules Discussion for New Funds

      • With the casualty rate for new funds being so high IMN has organized a discussion focusing on both successful practices for putting together a new fund in 2014 as well as things that just didn’t work out the way you thought it would. This will be a fund only discussion where the agenda will come from you. Since space is limited please email gdzurenda@imn.org for confirmation.

        • Steve Felix, Co-founder / Partner (Felix / Weiner Consulting Group)
        • Steve Felix, Co-founder / Partner (Felix / Weiner Consulting Group)

      8:00 AM
      Breakfast for all attendees Courtesy of:



      Please Choose "A, B or C"



      7:32 PM
      5 Markets, 45 Minutes: Evaluating the Major Markets

      • Each speaker will address one single market, it’s critical factors and dynamics including pricing, cap rates, competition, investability and what inning the market is in.

        • Stephen Rabinowitz, Chair, New York Real Estate (Greenberg Traurig, LLP)
        • David Lynn, CEO (Everest Healthcare Properties, LLC)
        • Michael Cohen, Director of Advisory Services (PPR, a CoStar company)
        • Richard Kaufman, Founder and President (City-Core Development, Inc.)
        • Chris Fraley, CIO (RealtyMogul)

      7:32 PM
      Buying NPLs & Sub-Performing Loans From Within the Capital Stack and from Banks and Servicers vs. The Rest of the Market: Where is there Value/Inventory Left?

      • • Current pricing… Is the discount gone? • What types of assets are you finding? In what kind of locations? • Finding loans and REO • Are you examining the single family home market? • What kind of information are you getting from the banks? Is it enough? • Buying equity vs. debt • Stretch senior vs. senior mezz • Equity funds buying debt… What do your LPs say? • Securitized vs. whole loan debt • Impact of property type • June 12, 2014… What is your buy of the day?

        • Michelle Kelban, Partner (Latham & Watkins)
        • Ruprecht Hellauer, Managing Director (Albulus Advisors Germany GmbH)
        • Tom Lockard, Vice President - Real Estate Investment & Institutional Sales (Fundrise)
        • Yon Cho, Partner (Pacific Coast Capital Partners, LLC)

      7:32 PM
      LP Asset & Real Estate Allocation

      • • What are your current allocations? • Rebalancing 2015… Given the run-up in the equity and real estate markets are you looking to de-risk your portfolio? • Do you see core as a fixed-income substitute? • What is behind the black box of asset allocation models • Liability considerations

        • Jonathan Glick, Managing Director (Incubation Capital Partners LLC)
        • Paige Mueller, Director of Institutional Real Estate Advisory Services (RCLCO)
        • Rodney Lumpkin, Portfolio Manager - Alternative Investments (SEI Investments)
        • Greg Spick, Senior Portfolio Manager - Real Estate / Real Assets (UPS Investments)

      7:32 PM
      Small Fund Survival Guide

      • In an environment where many LPs are trying to consolidate their fund managers and brand names are in vogue many smaller managers need to work 10x as hard to succeed. This panel will discuss real-life examples of how small funds are raising money, getting high marks from investors, getting the word out, being transparent and getting superior returns• What is in your backyard… Is that the best way to invest? • Fundraising tips • Beyond friends and family • Can a generalist small manager succeed? • Joint ventures with institutional players • Playing up advantages i.e. personal attention, lower fees, nimble putting capital to work, and small amount of capital needed to get going

        • Kenneth Weissenberg, Partner (EisnerAmper)
        • Tore Steen, CEO, Co-Founder (CrowdStreet, Inc.)
        • Jason Isaacson, Founding Partner and President (IP Capital Partners, LLC)
        • Brad Lenox, Partner (Morris, Manning & Martin, LLP)
        • William Procida, President (Procida Funding & Advisors, LLC)
        • Nick Bienstock, Managing Partner (Savanna)

      7:32 PM
      Senior Lending/Borrowing, Term Debt & Securitization

      • • Impact of bank regulatory issues • Current debt yields • Funds as originators • Evaluating pricing risk • Gap capital • Impact of CDO return • What in the debt markets are keeping you up at night? • Time to go fixed? • CMBS market rates

        • James Hisiger, Partner (Latham & Watkins)
        • Nicki Livanos, Director, Real Estate Investments (AXA Equitable)
        • Michael Eglit, Managing Director, , Head of US Originations (Blackstone)
        • David Douvadjian, Executive Vice President (Colliers International)
        • Dean Dulchinos, Portfolio Manager – Debt Strategies (Cornerstone Real Estate Advisers LLC)
        • Jeff Thompson, Managing Director, Institutional Accounts (GE Capital Real Estate)

      7:32 PM
      LP/GP Panel on First Time, New and Emerging Managers

      • • Defining the term “emerging manager” • What are you looking for from the new fund managed by the “#2” man? • How do you meet new managers? • Why do LPs have emerging manager programs? How have they performed? • Becoming a “graduated manager • How much of a percent of the fund would you invest in?

        • Leo Leyva, Co-Chair of Litigation Dept. & Real Estate Special Op. Group (Cole Schotz, PC)
        • Aaron Mesmer, Senior Vice President, Development & Acquisitions (Block Real Estate Services, LLC)
        • Maria Stamolis, Co-Head of Real Estate Investments (Canyon Partners Real Estate)
        • Danita Johnson, Vice President-Global Private Equity Real Estate (Franklin Templeton Investments)
        • Stephen Davidson, Vice President (Morgan Stanley Alternative Investment Partners)
        • Jim Dillavou, Principal (Paragon Commercial Group)

      7:32 PM
      Housing Relative Value, Investments & Finance…

      • • Impact of increasing interest rates • Is there still value in major markets or is it time for secondary market plays? • Class “A” or “B”… Where should you be? • What type of value-added situations are you currently looking at? • Fannie, Freddie and other government products you’ve been using • Valuations 2014 • Strategies to turn around under-performing properties • Can you make $$ on condos outside of New York and South Florida? • Land & lots… Has that ship already sailed? • Single family investments… Is there $$ that can still be made? • Multifamily… are we reaching the bubble stage anywhere? Are the condo players making it impossible to compete unless you want to make a 4 cap? • Homebuilding: A good play for today? • Will land prices continue to rise? • Master planned communities: Who is financing? • Infill locations • Residential joint ventures and their structures • Has the pickup in condos and the new single family rental market impacted rents?

        • Ron Lagnado, Partner (WeiserMazars LLP)
        • John Burns, CEO (John Burns Real Estate Consulting)
        • Jeff Meyers, President (Meyers Research LLC)
        • Preston Thomson, Director of Investor Relations (Nelson Brothers Professional Real Estate)
        • Matthew A Pestronk, President (Post Brothers)
        • Oliver Swan, Managing Partner (Quad Real Estate Partners, LLC)

      7:32 PM
      Subscription & Short-Term Fund Financing

      • • What are the current terms of subscription lines? • What other products are you offering? Repo lines? • How has fund evaluation changed? • Do you offer bridge loans? • Documentation trends • Handling a defaulted or non-performing customer • Impact of fund terms on asset class and strategy… Where are the biggest differences among lenders? • Issues for alternative structures

        • Timothy Powers, Partner (Haynes and Boone, LLP)
        • Matthew Alshouse, Partner (Baker & McKenzie, LLP)
        • Tom Nowak, Managing Director (Bank of America Merrill Lynch)
        • Jonathan Peiper, Director (Sumitomo Mitsui Banking Corporation)
        • Terence Hatton, Managing Director, Fund Finance (MUFG Union Bank)
        • Dee Dee Sklar, Managing Director (Wells Fargo)

      7:32 PM
      LP Manager Selection & Fund Due Diligence

      • • Evaluating a new team from an old fund • How has the financial crisis and resulting performance struggles for real estate managers impacted track record analysis? • “Past returns are not indicative of future results,” how do we evaluate a manager’s prospective ability to be successful? • When would you invest with a manager with a mixed track record? How do we justify that investment internally • How useful are “on-list” reference checks? To what extent do we rely on “off-list” references • Track record attribution • How important is fund level vs. asset/deal level • Mortgage funds vs. hard assets-key differences

        • Tommy Brown, Partner (LGT Capital Partners)
        • Peter Madden, Director Americas Real Estate (APG Asset Management)
        • Alisa Mall, Director of Investments (Carnegie Corporation of New York)
        • Roland du Luart, Managing Partner - Head of US (LFPI)
        • Sean Ruhmann, Partner-Director of Real Assets Research (NEPC, LLC)
        • Amy Hirsch, Chief Executive Officer (Paradigm Consulting Services)
        • Robert Greene, Vice Chairman (Virginia Retirement System (VRS))

      7:32 PM
      Refreshments Courtesy of



      7:32 PM
      New/Small Fund Launches… What Managers Need to Know

      • 90% of new fundraises will not be successful. This session will help make sure you are in the 10% that are successful.• What to do before launching your first fund • Leaving a large fund… Recent success stories • Getting to the second meeting • Incubation funds • Effectively using placement agents and investment consultants • What should be in your “elevator pitch?” • How are you differentiating yourself? • Identifying your area of expertise • Dual fundraises • Exceeding target fundraises… What do these funds have in common? • SEC lift on general advertising… What have you been doing to get the word out? Implications on fund marketing materials • Using crowdfunding

        • Randy Zisler, Chief Investment Officer (Encore Enterprises)
        • Nevin Sanli, Founder & Managing Director (Astrum Investment Management)
        • Paul Odland, Partner (Belveron Real Estate Partners)
        • Jody Kriss, Principal (East River Partners)
        • Jilliene Helman, Chief Executive Officer (RealtyMogul)

      7:32 PM
      Construction & Development: What Issues Should you Concern yourself with During this Cycle?

      • • Construction costs are rising… How are you dealing? • Joint ventures • As construction is picking up are you hiring in-house or outsourcing your expertise? • Mo’ construction; Mo’ problems… Managing multiple projects

        • Deborah Levinson, Partner (CohnReznick LLP)
        • Dave Pollin, Co-Founder (The Buccini/Pollin Group)
        • Nicholas M. W. Hoffman, Partner (Haynes and Boone, LLP)
        • Seth Schumer, Director, US Investments (Quadrum Group)
        • Gregory Nero, EVP & General Counsel (Sterling Equities)

      7:32 PM
      Secondary & Tertiary Markets

      • • How deeply are you planning on going into secondary markets? • Are you starting to run into many of your competitors there? • How are you dealing with the lack of liquidity and the fact that if there are troubles the secondary markets are the first to lose value? • Asset classes you are looking at • Secondary markets outside of gateway cities… Is there a spillover? • What are you doing to protect yourself if secondary markets go down like the last cycle?

        • Michael Cohen, Director of Advisory Services (PPR, a CoStar company)
        • Jason Eisenberg, Principal (Apollo Global Management, LLC)
        • Raphael Sidelsky, Senior Managing Director-Principal Investments (C-III Capital Partners)
        • Paul Sisson, Managing Director, Head of Americas (CBRE Global Investors)
        • Farid Guindo, Managing Partner (Drill Capital LLC)

      7:32 PM
      Comparing the Allocator vs. Operator Model

      • • Are investors ok with the double promote structure? • The local developer starting his own fund: How are LPs reacting? • Performance and historic returns • Evaluation beyond returns • Comparing fund structures • Capital fundraising for both models • Being both an operator and allocator

        • Ronald Kaplan, CPA, Partner, CRE Industry Practice Leader (CohnReznick LLP)
        • Robert Morse, Chairman (Bridge Investment Group Partners)
        • P.J. Yeatman, Managing Partner (Corten Real Estate Partners)
        • Chris Niehaus, Partner (GreenOak Real Estate Advisors)
        • Gary Block, Managing Director (The Meridian Group)
        • Sujan Patel, Founder and Managing Principal (Nantam Capital)

      7:32 PM
      Exit Strategies and Liquidity Options: Where can you get the Most Bang for your Buck for your Current & Expiring Fund

      • • Exit volume… Where is it going? • Fund strategy and exit issues • Positioning your property • Do you figure out the exit strategy upon acquisition? • Exit strategy planning up front • Exit cap rate assumption • Secondaries market… What is changing? • End of life options beyond predatory buyers • Exiting companies vs. properties • June 12, 2014… What is the best exit strategy today?

        • Pike Aloian, Partner (Almanac Realty Investors, LLC)
        • J. Stuart Mackintosh, Managing Director (EII Capital Management)
        • Marty Caverly, Chief Investment Officer (Resource Real Estate)
        • Elliot Pessis, Vice President (Harrison Street | Real Estate Capital)
        • Paul Mehlman, Partner (Landmark Partners)

      7:32 PM
      Joint Ventures… The Operating Partner Panel

      • This plenary, from the operator view point, will discuss their view on joint ventures with funds. Discussions will include• Did you look for a partner or did your partner look for you? • Fees, carry, preferred structures • What is needed to be a “best in class” operating partner? • How do you present your track record? • 2015… Are you considering your own fund?

        • David Eyzenberg, Principal – Debt, Joint Venture & Structured Capital (Avison Young)
        • Joel Breitkopf, Partner (Alchemy Properties, Inc.)
        • Pete Kutzer, Managing Partner (Edgewood Realty Partners, LLC)
        • Kent Swig, President (Swig Equities)
        • Chad Buchanan, Chief Investment Officer (Tryko Partners)

      7:32 PM
      First-Time Funds… The Administration Side

      • • Regulatory compliance • Calculating NAV • Evaluating new opportunities from the operational side • How much do you need in the piggy bank? Start-up costs • Corporate structure options • The launch • Investor communications and reporting: What is mandate; what your clients expect • Accounting tax and bookkeeping stuff • Regulatory filing • Co-investment and joint venture administration

        • Howard Fields, Senior Vice President (Inland Institutional Capital LLC)
        • Greg Myers, Managing Director (Alter Domus)
        • Daryl Shevin, CFA, CFO (13th Floor Investments)
        • Barry Johnson, Managing Director, Global Head of Real Estate Operating Platform, Real Estate Fund Services (State Street)
        • Desmond McGowan, CFA, Chief Financial Officer (True North Management Group, LLC)

      7:32 PM
      Networking Luncheon with the Exhibitors

      • Luncheon Roundtables:
        You will again be able to register for one of the roundtables is the series of luncheon roundtables at registration. Some of the scheduled roundtable will be New Funds, Multifamily, Young Professionals, Women in Real Estate, Small Funds, and General Counsel/CFO/COO.

      General Session



      7:32 PM
      Entering New Markets...Best Practices and Lessons Learned

      • • How do you determine new markets? What are the reasons to move into new markets? • Defining the playing field and the players before entering a new market • Undertaking due diligence on new markets • Identify market entry point and market entry strategy  • When is it time to cut your losses in a new market?

        • Linda Law, Principal (Law & Associates/Land Veritas)
        • Michael Bernstein, Principal (Artemis Real Estate Partners)
        • Eli Braha, Managing Member & CEO (Berkley Aquisitions LLC)
        • Sondra Wenger, Managing Director (CIM Group)
        • Terrell Gates, Chief Executive Officer (Virtus Real Estate Capital)

      7:32 PM
      Where Will Cap Rates be in 3 Years? 5 Years? How is this Impacting your Underwriting? Investing in a Rising Rate Environment

      • • Are you building more inflation protection into your agreements? • What asset classes do you expect to over-perform in a rising rate environment? • Markets…Gateway vs. primary vs. secondary • Are you making any tactical portfolio or asset-level changes to existing, inflation-sensitive investments? • Benefits of hedging • What are you going long on? Short on? • What is the most interest sensitive sector? • Are you locking into fixed rate debt? • Are you increasingly investing in cash flow focused properties? How will the Fed potentially exit quantitative easing and what are the risks? • Impact on investment style mandate tactical decisions (Core, value-add and opportunistic) • What future interest rate modeling scenarios are you using? What is your exit cap rate assumption relative to your going in cap rate? • Are there markets or product types where you expect NOI growth to offset or exceed the decline in residual value from higher cap rates? • Will the CRE buyer pool change when rates rise?

        • Amachie Ackah, Founder (Clay Cove Capital)
        • Tim Wang, Managing Director and Head of Investment Research (Clarion Partners)
        • Larry Raiman, CEO (LDR Capital Management)
        • Russell Appel, President (Praedium Group, LLC)
        • Jay Henry, Managing Member (TriGate Capital, LLC)

      4:05 AM
      Wine & Cheese Reception



      5:00 PM
      The 15th Annual Forum on Real Estate Opportunity & Private Fund Investing Concludes



Sponsors

Register

This is a past conference, no registration is available.

Venue

  • No venue/hotels have been posted for this conference at this time

Speakers

Content/Audio Files

  • Only sessions that contain published presentations or audio files are shown here. To view full agenda please expand "Agenda" tab.

    Also please do not forget that if you are playing audio files on the mobile device (without being connected to WiFi), your Mobile/Cellural Internet data will be spent to play these audio files.
  • Day One: Thursday, June 12, 2014
  • 7:32 PM

    Opening Remarks by IMN & Conference Chair:



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Economist Keynote: In Light of the Changes in the Market are Inflation Expectations too High?



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 9:05 AM

    State of the Fund & Real Estate Industry



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    The Large Fund Panel… What are the Risks that you are Taking in this so Called Growth Environment?



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Where Should you be… Reassessing Core vs. Value-Added vs. Opportunistic Investing for 2015



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Fundraising… Are the Headwinds Easing a Bit?



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Acquisition Due Diligence for Individual Properties and Portfolios



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Bridge Loans & Other High Yield Lending on Transitional Properties, Deals with a Value-Added Component, Secondary & Tertiary Markets



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Hotels: Where will you be investing in 2015?



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    New Mezz Loan Origination/Borrowing



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Joint Ventures… Today’s Deals



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Fund Structuring



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Pending Debt Maturities… What is your Strategy for Loans Coming Due from the Class of 2005-6?



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    LP/GP Relations… The Alignment, The Fee, The Promote and the Incentive



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Foreign Fund Structures for LPs & GPs



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Financing Small Deals



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • Day Two: Friday, June 13, 2014
  • 7:32 PM

    5 Markets, 45 Minutes: Evaluating the Major Markets



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Buying NPLs & Sub-Performing Loans From Within the Capital Stack and from Banks and Servicers vs. The Rest of the Market: Where is there Value/Inventory Left?



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    LP Asset & Real Estate Allocation



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Small Fund Survival Guide



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Senior Lending/Borrowing, Term Debt & Securitization



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    LP/GP Panel on First Time, New and Emerging Managers



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Housing Relative Value, Investments & Finance…



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    New/Small Fund Launches… What Managers Need to Know



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Construction & Development: What Issues Should you Concern yourself with During this Cycle?



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Secondary & Tertiary Markets



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Comparing the Allocator vs. Operator Model



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Exit Strategies and Liquidity Options: Where can you get the Most Bang for your Buck for your Current & Expiring Fund



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Joint Ventures… The Operating Partner Panel



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    First-Time Funds… The Administration Side



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Entering New Markets...Best Practices and Lessons Learned



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files
  • 7:32 PM

    Where Will Cap Rates be in 3 Years? 5 Years? How is this Impacting your Underwriting? Investing in a Rising Rate Environment



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files

1120 Avenue of the Americas, 6th Floor, New York, NY 10036
Tel: +1(212)901-0506 Fax: +1(212)768-2484
Email: mail@imn.org


View Full Site
You need to login before accessing this section. Click "Login" from bottom menu.

Please sign in

Create Account Recover Password Sign in with LinkedIn

Enter Your Email: