File - The London Group

SPEAKERS INCLUDES:
PETSCHEK FAMILY OFFICE (SFO)
Beth L. Steinberg, Senior Managing Director
VANDEWATER CAPITAL HOLDINGS,
(The Private Equity Arm of Jesta Group, (SFO))
Katherine Hill Ritchie, CEO, PEX GLOBAL, INC (SFO) Jay Rogers, Executive Director,
ALPHA STRATEGIES/BERGENDAHL HOLDINGS (SFO)
Mo Lidsky, Principal, PRIME QUADRANT LP (MFO)
Dan Farrell, Chairman & CEO, PRIVOS CAPITAL (MFO)
Paul Kang, President/CIO, Member ofthe Investment Committee,
ALTACAP(SFO)
Dani Evanson, Managing Director,
RMA|REAL ESTATE INVESTMENT & ADVISORY SERVICES
Shawn Canter, Partner, CROWN PREDATOR HOLDINGS
(SFO)
Ann LeClair McSheehy, SCOVILLE PARK GROUP, LLC (SFO)
Stephen Braun, Senior Vice President J.I KISLAK INC. (SFO)
Aaron Rokosz, Chief Executive Officer STEINMAUER REALTY
Ira Perlmuter, Managing Director,
T5 EQUITY PARTNERS LLC (SFO)
Matthew Hodgen, CEO, MACIAN WEALTH MANAGEMENT
Daniel Goldstein, Senior Managing Director,
Delicious(MFO)
MANCHESTER CAPITAL MANAGEMENT
Flickr
Twitter
Ricky
Novak, GeneralRetweet
Counsel, Real Estate & Tax Advisor
THE STRATEGIC GROUP OF COMPANIES/MERRILL FAMILY
OFFICE (MFO)
MySpace
StumbleUpon
Digg and CEO,
James
Rosebush, Founder
THE WEALTH & FAMILY MANAGEMENT GROUP
Michael Felman, Presiden, MSF CAPITAL ADVISORS
Katie Kalvoda, Founder & Managing Director
Facebook
NEWPORT WEALTH MANAGEMENT
Giovanni Petschek de Francisci, Portfolio Manager
Slash Dot
Jeffrey Sica, President, SICA WEALTH MANAGEMENT, LLC
Mixx
Skype
Technorati
linkd.in/imn_realestate twitter.com/imn_realestate hashtag:#imnevents
Twitter
Retweet
Reddit
FriendFeed
YouTube
LinkedIn
For more information, please visit: www.imn.org/refamilyoffice
CORPORATE SPONSORS & MEDIA PARTNERS
IMN would like to thank the following corporate sponsors & media partners for their generous
support of IMN’s Real Estate Family Office and Private Wealth Management Forum
SILVER SPONSOR
BRONZE SPONSORS
Media Partners
l
2 For more information, please visit: www.imn.org/refamilyoffice
Forum Day One: May 4, 2015
7:45 Registration… Breakfast is served for pre-conference session attendees
10:30 8:00-8:45 WORKSHOP 1… STARTING A REAL ESTATE INVESTMENT
PROGRAM… A PRECONFERENCE DISCUSSION
This interactive discussion, for family offices and wealth managers only
will detail the keys for a family office that is looking to start a real estate
investment program.
• Direct vs. Using managers • Public vs. private equity • In-House
vs. Using a consultant • New construction • Staffing and expertise
necessary • The admin side… What operational/custody issues
you need to know? • Legal & tax stuff
Panel Participants:
Katie Kalvoda, Founder & Managing Director
NEWPORT WEALTH MANAGEMENT
11:00 ASSESSING & VALUING CRE SECTORS & GEOGRAPHIES
• Different sectors; different cycles… • Is the price appreciation
trade gone? • Office vs. Multifamily: Which way should you go?
• Cap rates vs. ROI vs. Other metrics… How should you be
evaluating real estate? • Plays on the death of the shopping mall
• Looking at deals with some hair… Is that the place to be?
• Oil patch economies… Not looking to slick? • 150m dollar
NYC condos and ranches… An investment opportunity?
Session Chair:
Jeff Stoke, Partner and Real Estate Practice Group Leader,
PROCOPIO
Panel Participants:
Andrew McCulloch, Managing Director GREEN STREET ADVISORS
David Steinbach, Chief Investment Officer HINES
Stephen Braun, Senior Vice President J.I. KISLAK, INC.
8:00-8:45 WORKSHOP 2… APPROACHING FAMILY OFFICES… A
PRECONFERENCE DISCUSSION
This interactive plenary, open only to investment managers, will have family
offices discuss the most successful ways to a new manager can approach them.
• How does the elite world operate? • What motivates high networth individuals? • Looking for the vetted individual • Vs. marketing
to institutions and pensions • Where to mingle? • Finding the
money in motion • Identifying centers of influence• When word of
mouth is the best approach… How do you get them talking about
you? • What are the proactive tactics you should be using? • Role
of social media • The elevator pitch • You’re in the door… What
should you do next?
Panel Participants:
Jay L. Rogers, President & Founder ALPHA STRATEGIES
INVESTMENT CONSULTING
James S. Rosebush, Founder and CEO
THE WEALTH & FAMILY MANAGEMENT GROUP
8:30 Registration… Breakfast is served for all attendees
9:00 THE REAL ESTATE ECONOMY
• Has the soft recovery picked up steam? • When is the end of
the cycle coming? • How to take advantage of low interest rates?
• Is real estate still a hedge against inflation? • Looking outside the
US… • What is your real estate forecast for the next 3 years?
Panel Participants:
Rick Chichester, President & CEO FARIS LEE INVESTMENTS
Giovanni Petschek de Francisci, Portfolio Manager
PETSCHEK FAMILY OFFICE (SFO)
Jeff Sica, President & Chief Investment Officer
SICA WEALTH MANAGEMENT LLC
Beth L. Steinberg, Senior Managing Director
VANDEWATER CAPITAL HOLDINGS,
(The Private Equity Arm of Jesta Group, a Global Single Family Office)
9:45 COMPARING RETURNS & RISK OF REAL ESTATE VS. OTHER
ASSETS
• How do you look at risk? Are you taking more of it than in
the past? • Strategy to assess risk • Evaluating the current market
• With the run up in both the real estate and stock markets what
is the outlook for the appreciation portion of returns? • Real
estate return correlation vs. other assets • Risk-adjusted returns
• Real estate risk and return of different investments • Risk of
debt finance or development • Role of risk minimization using
partnerships • Real assets • Is there green in green real estate?
• Capital appreciation vs. Current income
Panel Participants:
Paul Kang, President/CIO, Member of the Investment Committee
ALTACAP (SFO)
Ilan Awerbuch, Co-Manager, ANI LICENSE FUND I
Mo Lidsky, Principal PRIME QUADRANT LP (MFO)
Jeff Sica, President & Chief Investment Officer
SICA WEALTH MANAGEMENT LLC
Darren Cline, Managing Director TERRA COTTA
l
3 For more information, please visit: www.imn.org/refamilyoffice
Refreshments
11:45 CAPITAL PRESERVATION VS. INVESTMENT GAIN … WHAT
IS YOUR STRATEGY FOR ESTATE PLANNING /ASSET
ALLOCATION OF YOUR WHOLE PORTFOLIO & REAL ESTATE
• What are you’re the goals of your real estate portfolio
investment? Long term capital gains? Cash substitute? • How much
of your portfolio should be real estate? Equity vs. Funds vs. Direct:
What should be the breakdown between different real estate
routes to market? • Non-US flight of capital countries vs. Other
family office allocation % • Direct real estate hold periods • Are
family offices long- or short-term investors? • Do you pocket
returns from their properties or acquire additional real estate?
• Real estate concentrated families
Session Chair:
Steffianna Claiden, CEO FAMILY OFFICE REVIEW
Panel Participants:
Shawn Canter, Partner CROWN PREDATOR HOLDINGS, (SFO)
Mo Lidsky, Principal PRIME QUADRANT LP (MFO)
12:30 Luncheon
1:45 FUND VS. DIRECT VS. PUBLIC EQUITY
• Liquidity tradeoff • Crowdfunding • Fund-of-funds investments:
When would you pay the extra fee? • Does size matter? Impact of
size of your fund and the allocation of your real estate assets
• Time frame of investments • Performance comparisons • NonUS investment considerations • Allocation if all three are your
approach
Panel Participants:
Katherine Hill Ritchie, CEO PEX GLOBAL, INC. (SFO)
Michael Press, Managing Partner PONTUS CAPITAL
Dan Farrell, PRIVOS CAPITAL (MFO)
Ira Perlmuter, Managing Director T5 EQUITY PARTNERS LLC (SFO)
2:30 WHAT YOU NEED TO KNOW ABOUT PARTNERSHIP BUT
WERE AFRAID TO ASK… INVESTMENT, FUND & PARTNER
DUE DILIGENCE AND MANAGER SELECTION(1P)
• How do you evaluated an opportunity? • Fund- vs. Deal-level
diligence • Public vs. Private managers • Evaluating real estate
investment returns • When should you bring in someone to
assist in the evaluation? • How has the financial crisis and resulting
performance struggles for real estate managers impacted track
record analysis? • 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 • Track record attribution • What are the
key differences in Mortgage funds vs. Hard assets • Performance
measurement, transparency & reporting • Evaluating new and
emerging managers
Forum Day One: May 4, 2015
Panel Participants:
Roy Allen, Investment Director MEREDITH FAMILY FOUNDATION
Matthew Hodgen, Chief Executive Officer
MACIAN WEALTH MANAGEMENT, LLC (MFO)
Robert E. Lee, Director–Capital Markets SILVER PORTAL CAPITAL
James S. Rosebush, Founder and CEO
THE WEALTH & FAMILY MANAGEMENT GROUP
3:15 Refreshments
3:45 CORE VS. VALUE-ADDED VS. OPPORTUNISTIC: EVALUATING
THE UNIVERSE OF REAL ESTATE PRIVATE EQUITY FUNDS- (1)
• Assessing the risk/return relationship • Is triple net the place
to be? • The changing picture of risk/return for different styles
• Comparing leverage levels • Looking at oxymorons… Core
development, Core secondary markets • Future performance
predictions • Defining core + • How should you look for a deal
with hair? • The family office… What kind of expertise do you
need to do value-added deals yourself? • The mall transformation
play • Providing liquidity for non-liquid investments • Early-stage
development
Panel Participants:
Paul Kang, President/CIO, Member of the Investment Committee
ALTACAP (SFO)
Dave Kasprzak, SVP of Investor Relations
BROADSTONE REAL ESTATE, LLC
J. Stuart Mackintosh, Managing Director EII Capital Management
Jonathan A. Needell, Chief Investment Officer & Chief Operating
Officer REDWOOD REAL ESTATE
Ann LeClair McSheehy Williamson, Senior Principal
SCOVILLE PARK GROUP, LLC (SFO)
4:30 TAX-EFFICIENT REAL ESTATE INVESTING & 1031 EXCHANGES…
• What are your tax investment objectives? • What is the best
structure to hold assets in? • Charitable gifting of real estate assets
• Estate planning and intergenerational issues • Passive income/
losses • Depreciation • Replacement to cost • Regulations you
need to be concerned with • Recent tax changes in 24-hour cities
• What is on the list of reforms of the new Congress? What is
likely to pass? • Reasons for using an exchange • Comparisons vs.
other methods to defer gains • What you need to know about like
kind exchanges • Upreits and TICs • TIC risks: Are they basic and
easily managed or a disaster waiting to happen? • Evaluating the
TIC sponsor • Life cycle of an exchange • Pitfalls to watch out for
• Complex exchange strategies • Foreign family issues
Panel Participants:
Kimberly Merrill, Senior Vice President ENGINEERED TAX SERVICES
Ricky Novak, General Counsel, Real Estate & Tax Advisor
THE STRATEGIC GROUP OF COMPANIES/MERRILL FAMILY
OFFICE (MFO)
5:15 Networking Reception
6:15 Day One Concludes
Forum Day Two: May 5, 2015
7:45 Breakfast is served for pre-conference session attendees
8:00-8:45 WORKSHOP 3…. CLOSED DOOR DISCUSSION FOR FAMILY
OFFICES & WEALTH MANAGERS
“Everything that is said in the Family Offices & Wealth Managers
only discussion stays in the Family Offices & Wealth Managers only
discussion.” This session, opened to all family office and wealth manager
executives only, will be a venue where you can candidly discuss key
issues and bring up anything that is on your mind in a closed, non-public
environment.
Panel Participants:
Daniel Goldstein, Senior Managing Director
MANCHESTER CAPITAL MANAGEMENT LLC (MFO)
Dani Evanson, Managing Director
RMA|REAL ESTATE INVESTMENT & ADVISORY SERVICES
8:45 Breakfast is served for main conference attendees
9:00 REAL ESTATE DEBT/FINANCING OPPORTUNITIES
• Is it a good time to put perm debt on properties? How much
does it cost vs. variable? • Distressed debt… Are there still
opportunities? • Are debt funds opportunistic or core? Are they
part of your debt fund or real estate allocation? What about
Mortgage REIT investments • Buying within the capital stack
• Bridge Loans & Other high yield lending on transitional
properties, deals with a value-added component, secondary &
tertiary markets • Mezz loan origination/borrowing • NPL buying
from banks and servicers: Where is there still inventory left?
Panel Participants:
Shawn R. Miller, Principal CEO 5 ARCHES LLC
Cheryl Paller, Managing Director-Wealth Management Americas
DEUTSCHE BANK NATIONAL TRUST COMPANY
Ira Perlmuter, Managing Director T5 EQUITY PARTNERS LLC (SFO)
9:45 FAMILY OFFICE/FAMILY OFFICE JOINT VENTURES VS. JOINT
VENTURES, CLUB DEALS & SEPARATE ACCOUNTS WITH A
REAL ESTATE INVESTOR AS THE LEAD GP… WHICH WAY
SHOULD YOU GO?
• Comparing vs. non-family transactions • Fund/JV vs. Family/Family
Structuring • Negotiations and issues that arise • One-offs
vs. programmatic deals • Control issues • Workout scenarios
• GP replacement • Rates of return • Administrative
considerations • Advantages and disadvantages • Fees vs. other
structures • Why didn’t you join the club? • Legal structures
• Evaluation criteria • Fees using funds and other partners
vs. expense of running family office co-investments • Impact
investments • The leader in the investment vs. others that are in
• Entity considerations
Panel Participants:
Howard Fields, Senior Vice President
INLAND INSTITUTIONAL CAPITAL PARTNERS
Michael Felman, President MSF CAPITAL ADVISORS
Katie Kavloda, Managing Director NEWPORT WEALTH MANAGEMENT
Beth L. Steinberg, Senior Managing Director
VANDEWATER CAPITAL HOLDINGS,
(The Private Equity Arm of Jesta Group, a Global Single Family Office)
10:30 DIRECT INVESTMENT… THE SECRETS OF MY SUCCESS
• How much of your real estate portfolio is in direct investing?
Is this increasing? • Do you use joint ventures or go solo?
• What are the benefits of going direct? • How much in direct
investments do you need to insure an allocated portfolio?
• Liquidity considerations & historic performance • Development
& Construction deals • Direct due diligence • Socially responsible
& impact investing • Finding quality deals • Monitoring your
investments • Level of engagement necessary • Deal structure &
financing • The down side…
IMN Email: [email protected]
Tel: 212 224 3428
l
4
Forum Day Two: May 5, 2015
Panel Participants:
Mark Tronstein, Managing Director-Real Estate ANDELL INC.
Daniel Goldstein, Senior Managing Director
MANCHESTER CAPITAL MANAGEMENT LLC (MFO)
Roy Allen, Investment Director MEREDITH FAMILY FOUNDATION
Ann LeClair McSheehy Williamson, Senior Principal
SCOVILLE PARK GROUP, LLC (SFO)
11:15 Refreshments
11:30 NICHE REAL ESTATE SECTORS
utside of the 4 food groups and hotels there are a plethora of different
O
asset classes that a real estate investor can invest in. This session will
highlight some of them including…
Medical Office/ Student Housing:
Jonathan A. Needell, Chief Investment Officer & Chief Operating
Officer REDWOOD REAL ESTATE
Senior Housing/ Storage:
Jay L. Rogers, President & Founder Alpha Strategies Investment
Consulting(Executive Director, BERGENDAHL HOLDINGS (SFO)
Single Family Residences:
Mike House, Founder/Principal HOUSE PROPERTIES
Vineyard, Ranches, Plantations:
Ricky Novak, General Counsel, Real Estate & Tax Advisor
THE STRATEGIC GROUP OF COMPANIES/MERRILL FAMILY
OFFICE (MFO)
12:15 GATEWAY CITIES AT A 3 CAP VS. OTHER OPTIONS
• Is it time to rotate out of multifamily and coastal cities? • Is there
still value in NYC? Southern Florida? • Valuation of gateway cities
on an international basis • Is office a good buy or should you say
good bye? • Preferences of non-US investors • Entering a gateway
city for the first time… What should you know?
Session Chair:
Giovanni Petschek de Francisci, Portfolio Manager
PETSCHEK FAMILY OFFICE (SFO)
Panel Participants:
David Puchi, Managing Partner BACELINE INVESTMENTS
Michael Felman, President MSF CAPITAL ADVISORS
Dani Evanson, Managing Director
RMA|REAL ESTATE INVESTMENT & ADVISORY SERVICES
Aaron Rokosz, Chief Executive Officer STEINMAUER REALTY
1:00
VENUE INFORMATION:
REGISTRATION
PARK HYATT AVIARA
7100 Aviara Resor t Drive Carlsbad, CA 92011 USA
PHONE: 760-448-1234
WEBSITE: http://www.http://parkaviara.hyatt.com/en/hotel/home.html
This conference is currently sold out. For more information on
potential access or future IMN family office programs please
contact Todd Rosenberg at [email protected] or
+1 212 901 0552
In order to make reservations in IMN’s group block please use the link below:
https://resweb.passkey.com/Resweb.do?mode=welcome_ei_
new&eventID=11948534
IMN IS ROLLING OUT THREE NEW EXCLUSIVE
DIGITAL ADVERTISING/BRANDING OPPORTUNITIES:
IMN’s Mobile Website
•R
equest to connect with
Conference Attendees
• Send emails from My Account
• View presentations in the Agenda
• F ind functionality for fast
information access
• Paperless and great for the
environment
Website & email advertising •C
onference microsite leader board banner on main & mobile website
• DirectConnect tower banner on website & emails
• Audio
recordings leader board banner on website, tower banner on email
Wifi • Wifi splash page banner • Wifi business card handout For more information and pricing, please contact your IMN sales representative or
James Stark, Digital Advertising, [email protected] • T: +1 646-322-2124
l
T he Real Estate Family Office and Private Wealth Management Forum
Concludes
5 For more information, please visit: www.imn.org/refamilyoffice
IMN Offers Convenient Ways to Register
TELEPHONE:
(212) 901-0542
9:00 a.m. - 5:00 p.m. • US Eastern Time
Monday-Friday
WORLD WIDE WEB:
http://www.imn.org/refamilyoffice
EMAIL:
[email protected]
CORPORATE SPONSORSHIPS AND FORUM
EXHIBITS:
A limited amount of speaking and exhibiting opportunities and
food & beverage event sponsorships are still available. For more
information, please call Andy Melvin at 212-901-0542 or email
[email protected].