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LAST UPDATED: Tuesday, July 6, 2010 07:45 Registration Breakfast Courtesy Of:  08:25 Conference Introduction from IMN 08:30 Chairs Opening Remarks: Session Chair: Dennis Yeskey, Senior Advisor, ALIX PARTNERS LLC [ BIO ] 08:40 Economic Debate; The Economy Will Continue To Grow, We Are At The Bottom, Stuck In Neutral Or Is A Double Dip On The Way Debate Leader: Jay A. Neveloff, Partner, KRAMER LEVIN NAFTALIS & FRANKEL, LLP [ BIO ] Pro Growth: Mark Vitner, Managing Director, Senior Economist, WELLS FARGO SECURITIES [ BIO ] Double Dip: Jonathan Litt, Managing Principal, LAND AND BUILDINGS INVESTMENT MANAGEMENT, LLC [ BIO ] In Neutral: Jeffrey Krasnoff, Chief Executive Officer, RIALTO CAPITAL MANAGEMENT LLC [ BIO ]
09:10 CURRENT STATE OF THE BUSINESS & THE FUTURE OF THE FUND MODEL Can you Still get 2/20?: Fee Structure Changes Cost and Capital Structure Leverage, Expected/Cash on Cash Returns Buyers and Sellers: Is the Great Pricing Divide Narrowing? The State of the Institutional Investor Managing Return Expectations Is there as Much Capital Around as Advertised? The Future of Bank-Owned Real Estate Private Equity Funds Capital Raising Going Forward Monetization & the Impact of Fund Life Cycle Extension What is the Biggest Risk Going Forward? Changing Hats and Surviving Are Banks Starting to Loosen Up? Liquidity The Public Market Exit The Upcoming GP Shakeout & GP/GP Mergers Moderator: Gary G. Koster, Partner, ERNST & YOUNG LLP [ BIO ] Speakers: Scott D. Brown, Managing Director-Global Muli Manager, CBRE INVESTORS [ BIO ] Robert J. Dombi, Partner, LANDMARK PARTNERS [ BIO ] Jeff Jacobson, Global Chief Executive Officer, LASALLE INVESTMENT MANAGEMENT, INC. Scott M. Landress, CEO, LIQUID REALTY PARTNERS [ BIO ] Jeffrey M. Kaplan, Managing Partner, MEADOW PARTNERS, LLC [ BIO ] Joseph J. Sitt, Chairman & CEO, THOR EQUITIES, LLC [ BIO ] Michael Katz, Co-CEO, STERLING AMERICAN PROPERTY, INC.
10:10 LARGE FUND INVESTMENT STRATEGIES: WHERE ARE THE OUTSIZED RETURNS TODAY? Note vs. Property: Which Way are you Going? Reacting to the Dearth of New Financing Are you Getting the $$ Out? Stupid is as Stupid Does Where is the Dumb $$ Going Today? What Kind of Returns are you Looking for? Legacy Issues Market Return: How are you Preparing? Unstabilized & Half-Finished Projects International & Emerging Markets vs. US & Western Europe Opportunities in Taking Over Bank-Owned Private Equity Funds Are you Sampling Outside the Four Food Groups? Moderator: Alvin Katz, Partner, MAYER BROWN LLP [ BIO ] Speakers: Adam R. Schwartz, Managing Director, ANGELO, GORDON & CO. [ BIO ] John Jacobsson, Managing Partner, AREA PROPERTY PARTNERS [ BIO ] Roger Orf, President & CEO, CITI PROPERTY INVESTORS [ BIO ] Peter J. Fioretti, CEO, MOUNTAIN REAL ESTATE GROUP [ BIO ] Mason Sleeper, Principal, PRAEDIUM GROUP, LLC [ BIO ] Urban Edenstrom, Chairman of Niam and Newsec, STRONGHOLD INVEST AB [ BIO ] Sush Torgalkar, Managing Director, WESTBROOK PARTNERS, LLC [ BIO ]
11:10 Asset Class Networking Refreshments Courtesy Of:  Multifamily, Office/Industrial, Retail & Hotels will each have their own individual gathering areas to meet new people, rekindle old relationships and discuss deals. 11:50a WHY HAVEN'T YOU BEEN DOING DEALS? WHAT WILL MAKE YOU CHANGE? HOW ARE YOU TREATING MANDATES? Valuation: How Much do Prices Need to Drop to Put your $$ to Work? Mandates Under Times of Frothy Real Estate Markets: Do Investors Really Want you to Wait Around or Should you Deploy Regardless of the Cycle? Fees Earned While Parking Equity: An Issue? Cap Rates Needed It has been 2 Years and Im getting Itchy for a Deal: Which Standard are you going to Ease? LP Equity Investment Extensions Moderator: Gerald D. Pietroforte, Managing Director, ALVAREZ & MARSAL RE, LLC Speakers: Cathy Vann, CEO, ASSET REVITALIZATION SOLUTIONS [ BIO ] Gary A. Zdolshek, Principal, INVESTORS DIVERSIFIED REALTY, LLC [ BIO ] Stephen H. Allison, Managing Director and Chief Investment Officer, PARADIGM PROPERTIES [ BIO ] Xavier A. Gutierrez, Principal & Managing Director, PHOENIX REALTY GROUP, LLC [ BIO ] Stevens M. Sadler, Managing Director, REAL ESTATE VALUE ADVISORS, LLC [ BIO ] Kurt W. Roeloffs Jr., Global Chief Investment Officer, RREEF David B Rubenstein, Senior Managing Principal, RUBENSTEIN PARTNERS
11:50b SALE / EXIT STRATEGIES Auctions: What Kind of Numbers are Coming Out? Buyers: Who is Out there Today? Finding/Selling Loans Banks & Government Programs Distressed Sellers: Are they Selling, Extending & Pretending or Getting Foreclosed? Liquidity Among the 4 Food Groups Secondary Market & LP/JV Positions Forced Sales Price Results of Different Sale Methodologies Moderator: Steve L. Lichtenfeld, Partner, PROSKAUER ROSE LLP [ BIO ] Speakers: Michael J. Lesser, Managing Director, EASTDIL SECURED, LLC [ BIO ] Jeffrey M. Levine, , MILESTONE ADVISORS LLC [ BIO ] Gerald Monash CCIM, Executive Vice President, Investment Services, NAI GLOBAL [ BIO ] Mary Boorman, Senior Vice President, THE PINNACLE COMPANIES [ BIO ]
11:50c PROJECT LEVEL WORKOUTS Extensions Negotiations & Concessions Pre- vs. Post-Default Drafting the Agreement Analytics that Come in Handy Development Projects Adding Capital to the Project Terms on the Table Principal Reductions Moderator: Stephen L. Rabinowitz, Chair, New York Real Estate, GREENBERG TRAURIG, LLP [ BIO ] Speakers: Ted Trivers, Senior Vice President, BOSTON CAPITAL REAL ESTATE PARTNERS [ BIO ] Brian Newman, Managing Director, CERES REAL ESTATE PARTNERS, LLC [ BIO ] Constantine Korologos, Managing Director, DELOITTE FINANCIAL ADVISORY SERVICES [ BIO ] Todd Eisner, Partner, DUVAL & STACHENFELD LLP [ BIO ] Paul Griesmer, Senior Managing Director, Real Estate Advisory Services, FTI SCHONBRAUN MCCANN GROUP [ BIO ] Jeffrey Wolfer, President & Co-CEO, KENNEDY FUNDING [ BIO ]
11:50d FUND FUNDING, SUBSCRIPTION FINANCE & MANAGING YOU MATURITY SCHEDULE What Product Types are being Offered? Availability of Financing Bridge Loans Capital Calls, LP Issues Restructuring Fund Provisions Current Terms and Issues Moderator: Ellen G. McGinnis, Partner, HAYNES AND BOONE, LLP [ BIO ] Speakers: Ananda Reynolds, Director, BANK OF AMERICA MERRILL LYNCH Charles Tricomi, Partner, CHAPMAN AND CUTLER LLP [ BIO ] James M. Broderick, Partner, GOODWIN PROCTER LLP [ BIO ] Andrew D. MacIver, Senior Client Executive , JPMORGAN REAL ESTATE BANKING [ BIO ] Robert L Gilbert, Managing Director, STANDARD CHARTERED BANK [ BIO ] Terence Hatton, Managing Director, STARWOOD CAPITAL GROUP [ BIO ] Dee Dee Sklar, Managing Director- Capital Markets, Financial Institutions Head- Americas Global Coverage, Private Equity, WESTLB AG [ BIO ]
12:50a FDIC LOAN SALES Shared Upside Vehicles/Structured SIV Deals Can you Purchase One-Offs? Sourcing Deals Advice from the Loan Sale Advisors FDIC Purchases and Successor Developer Liability...An Issue? Valuation Methodologies Tax Considerations and Traps for the Unwary in FDIC Legacy Loans Program Moderator: Marshall Anderson, Managing Director, Advisory, KPMG [ BIO ] Speakers: Michael Dryden, Director, BARCLAYS CAPITAL Tom Galli, Shareholder, GREENBERG TRAURIG LLP [ BIO ] Robert A. Cudd, Partner, MORRISON & FOERSTER LLP [ BIO ] Gene Weil, Chief Executive Officer, MILESTONE ADVISORS, LLC [ BIO ] Christopher Kallivokas, Chairman & CEO, RER FINANCIAL GROUP INVESTMENT CORP [ BIO ]
12:50b TRANCHE WARFARE: WHAT HAS BEEN HAPPENING WHEN YOU LEAVE THE FOXHOLES? Litigation Update & Impact of the GGP Deal Senior vs. B Piece Concerns Control, Consent Rights & Voting Issues Securitized vs. Single Asset Deals UCC Foreclosure Documents & Position Special Servicing Two Appraisals, Two Numbers, Two Debt Holders Claim Control Options for those Appraised Out Intercreditor Changes Appraisal Events Moderator: Mark S. Fawer, Partner, DICKSTEIN SHAPIRO LLP [ BIO ] Speakers: Deborah Ginsberg, Vice President, CAPITAL TRUST, INC. William P. Bowman, Senior Vice President, Real Estate, HARTFORD INVESTMENT MANAGEMENT COMPANY [ BIO ] Stephen Meister, Partner, MEISTER SEELIG & FEIN Malay Bansal, Managing Director, NEWOAK CAPITAL LLC [ BIO ] Robert Kline, Principal / CEO, R.W. KLINE COMPANIES [ BIO ]
12:50c VALUATION/APPRAISALS: WHAT ARE THEY REALLY WORTH? Impact of FAS 157 & Fair Market Value Asset Class & Geographic Considerations Bid/Ask Divide: Is it a Valuation Issue? Lease Valuation Methods Valuing Properties in Need of Repositioning How are you Working in Future Market Expectations? Current Level of Discounts to NAV Current Complexities Inherent to the 4 Food Groups Land Prices Moderator: Brent Solomon, Principal, REZNICK GROUP, PC [ BIO ] Speakers: Debra Huddleston, Managing Director, BLACKROCK SOLUTIONS [ BIO ] Stevens M. Sadler, Managing Director, REAL ESTATE VALUE ADVISORS, LLC [ BIO ] Steven J. Powel, Principal & Chief Operations Officer, THE SITUS COMPANIES [ BIO ] Shahab Moreh, Partner, WEISER MAZARS, LLP [ BIO ]
12:50d LP/GP RELATIONS The Fee Question Promotes Control Are we so Over the Capital Call Issue? Return Expectations Communications, Reporting & Transparency New & Alternative Structures Secondary LP Sales Non-US Fund Managers Managing the Expectation Gap Skin in the Game Releasing LPs, Returning Equity Extensions Moderator: Joseph A. Smith Esq., Partner and Chair of Private Equity, DEWEY & LEBOEUF LLP [ BIO ] Speakers: Sagar A Dalal, Co-Founder/Managing Principal, BECKERMAN - REAL ESTATE FUND ADVISORY [ BIO ] Steve Coyle, Managing Director, COHEN & STEERS CAPITAL MANAGEMENT, INC. [ BIO ] Reid Smith, Director, Private Markets Investments, EVALUATION ASSOCIATES David A Karp, Managing Director, COO/CFO, FORUM PARTNERS INVESTMENT MANAGEMENT, LLC [ BIO ] Michael Forestner, Director of Private Markets, HAMMOND ASSOCIATES [ BIO ]
1:35 Luncheon Courtesy Of:  This luncheon will feature special tables set up for small & new funds, young professionals, women & minorities 2:35a FIRST TIME FUND STRUCTURES & MARKETING What is a Proxy for no Track Record? Terms Between the Controlling Entity & GP Deal Terms Between the Internal Sponsors Captives Distressed Fund Structures First Time vs. Seasoned Fund Terms Capital Sources Minority Funds Are Blind Pools an Option? Asset Class Considerations Role of Consultants Time Needed to Meet Goals in this Market Is it an Advantage to be Legacy Free? Back Office & Reporting Needs Moderator: Kenneth W. Muller, Partner, MORRISON & FOERSTER LLP [ BIO ] Speakers: Maqbool Mohamed, Director of Business Development, CITCO REIF SERVICES [ BIO ] Tom Pearson, President, CORTLAND FUND SERVICES LLC [ BIO ] Bradford R. Lenox Esq., Partner, DLA PIPER Charles B. Harrison, President, REIT FUNDING, LLC [ BIO ] Chad M. Carpenter, Chairman and CEO, REVEN CAPITAL, LLC [ BIO ] David M. Voss, Partner - Asset Management - Real Estate Tax, PRICEWATERHOUSE COOPERS LLP [ BIO ]
2:35b JOINT VENTURES: MARRIAGES & DIVORCES Managing Joint Ventures with Multiple Partners Structural Options, Cash Flows, Waterfalls, Fees & Profits Forced Sales Contrasting Private vs. Public Company Structures Unwinding a Partnership Restructuring & New Terms 3rd Party New Capital & Partner Capital Infusions Fund-Level Joint Ventures Development Joint Ventures Moderator: Terri Adler, Chair of the Real Estate Practice Group, DUVAL & STACHENFELD LLP [ BIO ] Speakers: Ben D. Pierson, Partner, COOLEY LLP [ BIO ] Steve MacDonald, Partner, DEWEY & LEBOEUF LLP Edward Kobel, President, DEBARTOLO DEVELOPMENT [ BIO ] Raphael Sidelsky, Managing Director, FREMONT REALTY CAPITAL [ BIO ] Dean C. Pappas, Partner, GOODWIN PROCTER LLP [ BIO ] Joan N Hayden, Vice President & Corporate Counsel, PRUDENTIAL REAL ESTATE INVESTORS [ BIO ] Joseph Blum, President, RBL REAL ESTATE [ BIO ]
2:35c BUYING BROKEN MEZZ/CMBS Have the Losses of the Class of 06-07 been Recognized? Would you Purchase Loans from this Class? Control First Loss Piece Investments Is there a Dislocation Between the Market and the Information? Are the Junior Classes all getting Appraised Out? Buy to Own In vs. Out-of-the-Money Positions The Foreclosure Process Local Tax Considerations Bankruptcy Remoteness CMSA Developments PPIF Fund Activities Working with Special Servicers Moderator: Robert J. Ivanhoe, Chairman, Global Real Estate Practice , GREENBERG TRAURIG, LLP [ BIO ] Speakers: Christopher Milner, Managing Director, BLACKROCK, INC. [ BIO ] Quinn R. Barton, Principal, CARMEL PARTNERS, INC. [ BIO ] Christopher C. Linkas, Managing Director, FORTRESS INVESTMENT GROUP [ BIO ] Carolyn E Sullivan, Partner, HAYNES AND BOONE, LLP [ BIO ] Shane Baldwin, CEO & President, SILVERLEAF FINANCIAL [ BIO ] Jeffrey B. Citrin, Managing Principal, SQUARE MILE CAPITAL MANAGEMENT, LLC [ BIO ]
2:35d FUND LIQUIDITY & SECONDARIES Are prices rising for RE secondary sales? Secondary fund, fund-of-fund, LP and consultant approaches to secondary investing What type of secondaries do intermediaries handle? Results of publicized transactions How can managers tap into secondary liquidity for their funds? Funded vs. unfunded commitments Legal and closing best practices Moderator: Scott M. Landress, CEO, LIQUID REALTY PARTNERS [ BIO ] Speakers: Dean A. Dulchinos, Vice President, CORNERSTONE REAL ESTATE ADVISERS LLC [ BIO ] Paul Mehlman, Partner, LANDMARK PARTNERS [ BIO ] Andrew Jacobs, Senior Vice President, METROPOLITAN REAL ESTATE EQUITY MANAGEMENT [ BIO ] Matthew A. Casper, Principal, PARK HILL REAL ESTATE GROUP LLC [ BIO ] Matthew A Posthuma, Partner, MAYER BROWN LLP [ BIO ]
3:35 Fixed Income Networking Refreshments Courtesy Of:  Featuring special areas focused on networking for Loan Originators, Debt/Loan Investors & FDIC Loan Buyers 4:05a HAND OVER KEYS VS. SELL VS. RESTRUCTURE/ADDING NEW $: A GUIDE FOR THE EQUITY HOLDER Can you get the Special Servicer/Special Asset Executive Attention Pre- Foreclosure? When is Bankruptcy the Best Option? Out of the Money Options Avoiding the Good $$ Chasing Bad Willingness of Lenders to Workout Moderator: Bruce M. Stachenfeld, Managing Partner & Founder of Real Estate Practice Group, DUVAL & STACHENFELD LLP [ BIO ] Speakers: David Barksdale, Partner, BALLARD SPAHR LLP Marshall Brozost, Partner, DEWEY & LEBOEUF LLP [ BIO ] Gregg Pritchard, Principal-Advisory, KPMG Shane Baldwin, CEO & President, SILVERLEAF FINANCIAL [ BIO ] David Spoont, Senior Vice President - Finance & Dispositions, URDANG Alex Walker, Partner, PROSPECT CAPITAL GROUP [ BIO ]
4:05b HAS THE DISTRESSED 4-SALE MARKET BOTTOMED OUT? WHAT INNING ARE WE IN? IS IT THE RIGHT TIME TO JUMP IN? Is the Price Right Where Land Banking Makes Sense? Buying Individual Condo Units & Homes in Bulk: Infrastructure, Pricing & Execution Partially Completed Community Investments Community Development Bonds HOA Due Diligence Appraisal Issues Can you Buy REO from Banks? End User Financing Environment Moderator: Dennis Cisterna III, Vice President, Acquisitions, BROBERG CAPITAL LLC [ BIO ] Speakers: Paul V. Kanitra, Director of Business Development, LIGHTHOUSE REALTY FUND Leonard M Klehr, Vice Chairman, LUBERT-ADLER PARTNERS, LP [ BIO ] Arthur Nevid, Chief Investment Officer, MOUNTAIN REAL ESTATE CAPITAL [ BIO ] Jim Oswald, Partner, PRICEWATERHOUSECOOPERS LLP Robert Sheridan, President, ROBERT SHERIDAN & PARTNERS, LLC [ BIO ] Edward Steffelin, Director of Institutional Sales and Research, WALTON INTERNATIONAL GROUP
4:05c SPARKS OF LIFE?: CMBS MARKET ACTIVITY & NEAR TERM OUTLOOK Will the Conduit Market Come Back? Life & Balance Sheet Players Will we get Beyond Single Asset Deals? We are the Government and we are Here to Help you Is it? CMBS Fund Performance PPIP: Has it been the Shot in the Arm that is Needed? Deal Pipeline: What is it Looking Like? Moderator: Mitchell Roschelle, Partner, PRICEWATERHOUSECOOPERS LLP Speakers: Robert Cestari, Managing Director, COHEN & COMPANY [ BIO ] Jeffrey Mudrick, Managing Director, G2 REAL ESTATE PARTNERS [ BIO ] Ron D'Vari, Chief Executive Officer, NEWOAK CAPITAL LLC [ BIO ] Brian Lancaster, Head of MBS, CMBS and ABS Strategies, RBS GLOBAL BANKING & MARKETS [ BIO ] Thomas A. Fink, Managing Director, TREPP LLC Mark Doris, National Business Development Director, WELLS FARGO COMMERCIAL MORTGAGE ORIGINATION [ BIO ]
4:05d PENSION ASSET ALLOCATION 2011: How does Real Estate Fit into your Portfolio Now? Have there been any Changes? Is Real Estate Part of your Alternative Allocation or a Separate Bucket? Are REITs Part of your Equity Allocation? Dry Powder or Ready to go? Evaluating International Real Estate Allocation in the Present Market What is the Purpose of your Real Estate Allocation? Core vs. Opportunistic Direct Real Estate Investing: A Consideration? Moderator: Tommy Brown, Managing Principal, CLERESTORY CAPITAL PARTNERS, LLC Speakers: Danny L. Caliendo, Senior Consultant, DSA CONSULTANTS [ BIO ] Melissa Quackenbush, Director - Real Estate Investments, HONEYWELL Jerry Davis, Chairman, Board of Trustees, NEW ORLEANS EMPLOYEES' RETIREMENT SYSTEM [ BIO ] Nancy Lashine, Co-Founder and Managing Partner, PARK MADISON PARTNERS [ BIO ] Timothy R. Barron, President & CEO, ROGERS CASEY Rene Nunez, Chair, School Finance, THE STATE OF TEXAS
Concurrent Sessions, Please Choose A, B or C 5:05a A DUE DILIGENCE ROADMAP WHEN ACQUIRING DISTRESSED PROPERTIES/NOTES Adventures in Due Diligence Problems in Getting Due Diligence Results (and What to Do About It) Legal Due Diligence What to Complete Before Going Hard Special Types of Due Diligence Moderator: Thomas D O'Connor, Partner, Chair of Real Estate Practice Group, COOLEY GODWARD KRONISH LLP [ BIO ] Speakers: Charlie Wu, Managing Director, BAYNORTH CAPITAL LLC [ BIO ] Ira Bergstein, CFO, PALISADES FINANCIAL, LLC [ BIO ] Jim Sorenson, General Partner, SORENSON GROUP HOLDINGS [ BIO ] Jack Mullen, Partner, SUMMER STREET ADVISORS [ BIO ] Martin D. Bronstein, Principal, THE SITUS COMPANIES [ BIO ]
5:05b DISTRESSED HOTELS Condo Hotels, Timeshare & Residential: What are your Options? Assessing Amenities & Mixed-Use Properties Casino Opportunities Looking South of the Border Brand Issues Revenue & Expense Options Extended Stay/Limited Service/Economy Market Closing the Property: When is it the Best Option? Moderator: Peter J. Korda, Partner, SEYFARTH SHAW LLP [ BIO ] Speakers: Ali Elam, Managing Director, FORTRESS INVESTMENT GROUP [ BIO ] Paul Griesmer, Senior Managing Director, Real Estate Advisory Services, FTI SCHONBRAUN MCCANN GROUP [ BIO ] Alan Kanders, Managing Director, G2 REAL ESTATE PARTNERS [ BIO ] Clark W. Hanrattie, Chief Investment Officer, HEI HOTELS & RESORTS [ BIO ] Jonathan Falik, Chief Executive Officer, JF CAPITAL ADVISORS [ BIO ] Aditya (Adi) Bhoopathy, Principal and Executive Vice President, NOBLE INVESTMENT GROUP [ BIO ] Warren Fields, Chief Investment Officer, PYRAMID HOTEL GROUP [ BIO ]
5:05c GP/LP FUND RESTRUCTURING Options When the GP Cant Raise New Monies Replacing a GP: What Needs to be Done? Can an LP Step in as the GP? GP Mergers Rescue Capital Availability from White Knights, Syndicates and LPs Buying out the GP Aligning Interests Financial Triggers & Alignment of Interest & Fiduciary Issues Impact of GP Parent Bankruptcy Filing Moderator: Hugh Macdonnell, Managing Director, MORGAN STANLEY Speakers: John Ferguson, Partner, GOODWIN PROCTER LLP [ BIO ] Peter A. Lewis, Senior Investment Officer, LIBERTY MUTUAL GROUP [ BIO ] Kenneth Wisdom, Managing Director, PORTFOLIO ADVISORS, LLC [ BIO ] James Guiry, Partner, PRICEWATERHOUSECOOPERS Edward Garcia, Portfolio Manager - Alternative Investments, Real Estate, RUSSELL INVESTMENTS [ BIO ]
6:05 Networking Reception Courtesy Of:  7:05 Day One Concludes LAST UPDATED: Friday, June 4, 2010 8:00 Breakfast Courtesy Of: Concurrent Sessions, Please Choose A, B or C 8:30a FUNDRAISING: MAKING SURE YOU ARE NOT 1 OF THE 100 FUNDS THAT HAVE BEEN CANCELLED OVER THE LAST TWO YEARS Investors: As the Economy Improves is it Getting Easier? First Time Fund Raising: Keys to Success Deciding on the Fund Size The Latest from the New York Attorney Generals Office Cutting your Equity Goal: How to Make the Best of it Failed Fundraise: The Next Step In-House vs. Placement Agent Handling the Legacy Track Record of your Fund Innovative Structures for Broker Dealers Fees on Uninvested Capital Incentive Fees Moderator: Charles R. Purse, Managing Principal, PARK HILL REAL ESTATE GROUP LLC [ BIO ] Speakers: David Goldman, Managing Partner, LBG REALTY ADVISORS, LLC [ BIO ] Alan A. Pardee, Managing Partner , MERCURY CAPITAL ADVISORS [ BIO ] Frederick Gortner, Managing Director, PALADIN REALTY PARTNERS, LLC [ BIO ] George Dabney, Managing Director, Treasury, THAYER LODGING GROUP [ BIO ] Mark O'Hare, Managing Director, PREQIN [ BIO ]
8:30b MANAGING LEGACY PROPERTY PORTFOLIOS: PROPERTY MANAGEMENT, INSOURCING & OUTSOURCING Asset Management Administering Existing Joint Ventures Refinancing & Restructuring Debt Leasing Up When to Sell, When to Hold Managing & Turning Around Distressed Properties Resource Allocation of New Opportunities vs. Managing Portfolios Latest Technology & Green you are Using Owner/Tenant Issues: New Leasing, Tenant Retention and Tenant Relations in the Current Market Moderator: Scott Hileman, Director-Real Estate Consulting, DELOITTE FINANCIAL ADVISORY SERVICES LLP [ BIO ] Speakers: William Glazer, President, KEYSTONE PROPERTY GROUP [ BIO ] Andrew Weiss, COO, PARMENTER REALTY PARTNERS [ BIO ] Zach Frisch, Managing Director, RAINDROP PARTNERS SRL [ BIO ] Nicholas E Stolatis, Managing Partner, TIAA-CREF GLOBAL REAL ESTATE [ BIO ]
8:30c US LOCAL/REGIONAL OVERVIEW - 6 regions 45 minutes From Seattle to Sarasota, Maine to Miami, crisscross the US for the latest in local/regional housing, office and retail numbers, leasing, sales and economic outlook. Session Chair & Mountainwest Jim Costello, Principal- Global Research and Consulting, CB RICHARD ELLIS ECONOMETRIC ADVISORS [ BIO ] Your Itinerary and Tour Guides Midwest - William Avoli, Vice President, ROCKBRIDGE CAPITAL, LLC [ BIO ] Northeast - Nick Bienstock, Managing Partner, SAVANNA FUNDS [ BIO ] Southeast - Ryan Weisfisch, Managing Director, MAXWELLE West Coast - Robert Kline, Principal/CEO, RW KLINE [ BIO ]
9:15a FUND STRUCTURES: HOW ARE THEY CHANGING? The panel will focus on the new structure of funds and internal GP entities in light of new investor demands in todays challenging market. Issues to be addressed include: New Waterfall and Fee Limits New Investor Governance Demands Flexible Use of Reserves to Respond to Debt Challenges and Opportunities Solutions for Existing Funds (Including Preferred Equity) Expanded Early Warning and Self Help Mechanisms for Funds and JVs Expanded Default Remedies GP and Officer Executive Compensation GP and Officer Exculpation Standards UBIT/FIRPTA and ECI Blockers for Tax-Exempt and Foreign Investors Club Deals, Co-Investments & Separate Accounts GP Formation & Talent Retention Without The Carry Moderator: Michael T. Fishman, Shareholder, GREENBERG TRAURIG, LLP [ BIO ] Speakers: Alan Bear, Managing Director, A&M CAPITAL REAL ESTATE, LLC Bradley S. Cohen, President, COHEN ASSET MANAGEMENT, INC. [ BIO ] Peter M. Fass, Partner, PROSKAUER ROSE LLP [ BIO ] Gary E. Block, Managing Director, THE MERIDIAN GROUP [ BIO ] Steven P. Jasa, Vice President, Investment Management, WESTERN NATIONAL REALTY ADVISORS [ BIO ] Jeffrey Perrone, Partner, DELOITTE TAX LLP [ BIO ]
9:15b MULTIFAMILY RENTAL INVESTMENT Are the Cash Flows Still Predictable in these Unpredictable Times? Tenant Demand Impact of Supply Increase from Former Condos Working with the GSEs Opportunities in Apartments Leaving the Federal Affordable Housing Programs Loans vs. Property Property Management of Distressed Apartments Notes vs. Properties Is Equity Financing Available? Moderator: David A. Kessler, Managing Principal, REZNICK GROUP, P.C. [ BIO ] Speakers: Benjamin L. Friedman, President, ABACUS CAPITAL GROUP, LLC [ BIO ] Marshall Boyd, President, INTERSTATE EQUITIES CORPORATION [ BIO ] Jeffrey L. Goldberg, Partner, THE MILESTONE GROUP [ BIO ] Adam S. Fruitbine, Managing Director, THE TUCKERMAN GROUP [ BIO ] Tarak Patolia, Chief Investment Officer, STERLING AMERICAN PROPERTY, INC. [ BIO ] Michael Hayde, Chief Executive Officer, WESTERN NATIONAL GROUP [ BIO ] Peter M Amari, President & Founder, PARKMONT CAPITAL, LLC [ BIO ]
9:15c AROUND THE WORLD IN 60 MINUTES This tour of macroeconomics and local/regional real estate markets will focus on the opportunities. Session Chair & Asia: Kenneth Munkacy, Senior Managing Director, GID [ BIO ] Your Itinerary and Tour Guides Eastern Europe - Jeffrey Rutishauser, President, SILVERMINE ADVISORS LLC [ BIO ] Canada - Jake Herman, President, WOODBOURNE CANADA MANAGEMENT INC. [ BIO ] MENA - C. MacLaine Kenan, Executive Director, ARCAPITA, INC. [ BIO ] South America - Thomas J. McDonald, Chief Strategy Officer, EQUITY INTERNATIONAL [ BIO ] Western Europe - Pip White, Managing Director, MGPA [ BIO ]
10:15 Refreshments Courtesy Of:  10:40a DISTRESSED RETAIL The Retailer Patient: Has it Returned to Health? Lifestyle Centers: Among the Living or Dying? Are you Looking to Cut Out the Mixed-Use Part of your New Projects? Mixed-Use Retail Performance Urban vs. Suburban Opportunities NNN Deals Alternative Use Options for the Dead Mall Turnaround Strategies Buying Distressed Leases Rent Relief Update Moderator: John P. Napoli, Partner, SEYFARTH SHAW LLP [ BIO ] Speakers: Stephen Smith, Principal & Chief Operating Officer, LLC, BRYANSTON REALTY PARTNERS [ BIO ] Dennis Cantalupo, COO, CREDITNTELL [ BIO ] Shoffner Allison, Principal, HAWTHORNE RETAIL PARTNERS [ BIO ] Leslie Lundin, Managing Partner, LBG REALTY ADVISORS, LLC [ BIO ]
10:40b ALTERNATIVE STRUCTURES: CO-INVEST/CLUB DEALS/SEPARATE ACCOUNTS/INSTITUTIONAL JV PARTNERSHIPS/PRIVATE REITS LP Appetite for Taking on the GP Risk Converting the Failed Fundraise into an Alternative Structure Waterfalls Why Choose One Alternative vs. the Others Structuring the Agreement Exits Moderator: Robert S. Insolia, Partner, GOODWIN PROCTER LLP [ BIO ] Speakers: Michael Underhill, Chief Investment Officer, CAPITAL INNOVATIONS, LLC [ BIO ] Susan Doyle, Managing Director, Global Real Estate Funds, GE ASSET MANAGEMENT, INC. [ BIO ] Brad W. Howe, Managing Director, LOWE ENTERPRISES INVESTORS [ BIO ] Robert Koza, Director, National Real Estate Group, RSM MCGLADREY, INC. [ BIO ] Ran S. Petel, Prinicipal, Co Investment Portfolio Manager, THE TOWNSEND GROUP [ BIO ]
10:40c SHOULD YOU BE IN A NEW YORK STATE OF MIND?: A REAL ESTATE INVESTMENT OUTLOOK NY: Leading or Lagging the Market? Residential vs. Office: Which Way to go? Evaluating a Deal...Is Cap Rate your Best Option? Financing Ability and the Mega Project? Affordable Housing Opportunities Transfer Tax Considerations Is NYC Still Under-Retailed? Foreign Buyer Appetite The Keys to Making it Here vs. Anywhere Moderator: Ronald Kaplan, Partner, J.H. COHN LLP [ BIO ] Speakers: Kevin Davis, Partner, AREA PROPERTY PARTNERS [ BIO ] Jim Costello, Principal, CBRE TORTO WHEATON RESEARCH [ BIO ] Robert Knakal, Chairman, MASSEY KNAKAL [ BIO ] John Garth, Managing Director, THE PEMBROOK GROUP [ BIO ] Keith B. Rosenthal, President & Co-Founder, PHOENIX REALTY GROUP, LLC [ BIO ]
11:25a GP/GP MERGERS Current Valuations Why Merge vs. Other Alternatives? Acquiring vs. Building a New Platform Advantages and Disadvantages of being Scooped Up by a Bigger, Multi-Product Shop Banks, Private Equity Real Estate and the Government Legacy Asset Drawbacks Moderator: Robert Lester, Managing Principal, PARK HILL REAL ESTATE GROUP LLC [ BIO ] Speakers: Richard Foote CFA, Managing Director, BERKSHIRE CAPITAL SECURITIES LLC [ BIO ] William D Regner, Partner, DEBEVOISE & PLIMPTON LLP Ernest Hunt, Senior Investment Officer - Real Estate, UNITED NATIONS JOINT STAFF PENSION FUND
11:25b FINANCING 2011: RECAP & LOAN ORIGINATION STRATEGIES Who is Financing? Assessing the Price of Debt How Long is it Taking to get Financing? Foreign Funds: What have you Done Lately? Where are you Putting your $$ to Work? What are you Doing with your Underwater Loans? Deals with Hair: Are you Considering? Advance Rates Do you Expect Leverage to Creep Up in the Short/Medium Term? Repositioning Properties With Cash Flow Mezzanine Underwriting Foreign Monies: Is it Coming Back? Repositioning Properties With/Without Cash Flow Moderator: Timothy M. Zietara, Senior Vice President, ING CLARION CAPITAL [ BIO ] Speakers: Mike Nash, Senior Managing Director, THE BLACKSTONE GROUP [ BIO ] Spencer Garfield, Managing Director, HUDSON REALTY CAPITAL LLC [ BIO ] Mark Finerman, Managing Partner, LOANCORE CAPITAL LLC [ BIO ] Scott Schwartz, Senior Managing Director, Co - Head Real Estate , MARATHON ASSET MANAGEMENT [ BIO ] Dan Hartman, Senoir Director, Investments, WRIGHTWOOD CAPITAL [ BIO ]
11:25c LOAN-TO-OWN Defining Loan to Own Successor Liability: A Concern? Case Studies of Successful Execution Risks of the Strategy Mezzanine Loan Players Can a Loan-to-Own Strategy get you in Trouble? Would you Consider Development Loans? Construction Loans Moderator: Matthew Clark, Attorney , DECHERT LLP [ BIO ] Speakers: Craig Brown, Partner, DUVAL & STACHENFELD LLP [ BIO ] Kevin Shea, Principal, EXETER PROPERTY GROUP James Glasgow, Portfolio Manager, FIVE MILE CAPITAL PARTNERS [ BIO ] Jeffrey Temple, Partner, MORRISON & FOERSTER, LLP [ BIO ] Christopher C. Schlank, Managing Partner, SAVANNA REAL ESTATE FUND [ BIO ]
12:10 Luncheon 1:10 THE LIMITED PARTNER ROUNDTABLE New Manager Selection & Evaluation Governance & Alignment of Interests Role of the Placement Agent Role of Secondaries: Are you Considering? Commingled vs. Separate Account vs. Other Alternative Structures Does Institutional Investor Distress from Legacy Deals Limit Available Capital for New Funds? Evaluating Fund Performance & Management Teams Moderator: Scott Farb, Managing Principal, REZNICK GROUP, P.C. [ BIO ] Speakers: Mark Flaherty, Controller, ALLEGHENY COUNTY, PA [ BIO ] Joshua Daitch, Senior Managing Director, MESIROW FINANCIAL [ BIO ] Joe Connolly, Chairman, NORFOLK COUNTY RETIREMENT SYSTEM John Mancuso, Senior Research Analyst, RUSSELL INVESTMENTS [ BIO ] Jeffry R. Haber, Controller, COMMONWEALTH FUND
1:55 TALF, TARP, GOVERNMENT INTERVENTION AND PPIP FUND ACTIVITY: WHAT ARE UNCLE SAM & THE REAL ESTATE FUND INDUSTRY DOING? The Latest on Banks Investing Proprietary Capital TALF Fund Investment Focus & Activity Securitized Market Activity Carried Interest Proposals CMBS Market Activity Current PPIP and TALF Activity & Impact FDIC Loan Sale Activity Moderator: Bhagesh Malde, Senior Managing Director, STATE STREET ALTERNATIVE INVESTMENT SOLUTIONS Speakers: Sabeth Siddique, Assistant Director, Credit Risk section, FEDERAL RESERVE BOARD OF GOVERNORS [ BIO ] Wray Thorn, Senior Managing Director of Private Equity, MARATHON ASSET MANAGEMENT, LLC [ BIO ] Bill Landis, Chief Investment Officer, RIALTO CAPITAL MANAGEMENT LLC David Michelson, Advisor, THREE ARCH INVESTORS LP [ BIO ]
2:40 INVESTMENT STRATEGY SHIFT: OPPORTUNISTIC REAL ESTATE INVESTMENTS IN A DOUBLE DIP OR HIGH INTEREST RATE ENVIRONMENT Protecting yourself & the Assets you have Deploying Capital If Interest Rates have Risen What will the General Economy Look Like? The Real Estate Market? How Would you Take Advantage of the Situation? Reacting to the Value Drop Expected Returns Examining Individual Asset Performance Under these Scenarios Impact on Mortgage-Focused Funds Debt Prices Hedging Strategies Moderator: Matthew Landau, Principal, WESTPORT CAPITAL PARTNERS, LLC [ BIO ] Speakers: Marcus R. Giancaterino, Managing Director and Global Head of Commercial Real Estate Finance, CITIGROUP GLOBAL MARKETS INC. [ BIO ] Neil R. Aaronson, Chief Executive Officer, HILCO REAL ESTATE, LLC [ BIO ] Robert Knakal, Chairman, MASSEY KNAKAL [ BIO ] Jonathan Schultz, Managing Principal, ONYX EQUITIES, LLC [ BIO ]
3:25 IMN's 11th Annual US Real Estate Opportunity & Private Fund Investing Forum Concludes | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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