Why Become a Member? - Samuel Zell and Robert Lurie Real
Transcription
Why Become a Member? - Samuel Zell and Robert Lurie Real
The Zell/Lurie Real Estate Center at Wharton Why Become a Member? The mission of the Zell/Lurie Real Estate Center focuses on research, educating future industry leaders, industry outreach and professional development. Our professional and academic success is based on support from those prominent industry leaders who constitute our membership. Member contributions support research into domestic and global property markets, help train our students to be future leaders of the real estate industry, and help provide various programs for our industry supporters. We view one of our key roles as being a convener of events at which people can freely discuss the outstanding issues of the day and of the future. These meetings are superb networking opportunities, attracting hundreds of top real estate professionals and featuring discussions about key issues facing the industry. Zell/Lurie members have a special relationship with our students—they mentor them as part of our Career Mentor Program and enjoy hiring advantages at our annual Real Estate Career Fair. Our members receive our Real Estate Student Résumé Book weeks before non-members, an advantage when looking to hire our students. We offer two types of membership: • Sustaining Memberships require a tax deductible contribution of $7,500 per year. • Research Sponsorships require a tax deductible contribution of $15,000 per year. Our Executive Committee Members are selected from among our Research Sponsors. Sustaining Members may have up to three associate members from their firms for $500 each per year and may invite up to three guests from outside their firms to most of our events. Research Sponsors may have up to five associate members from their firms for $500 each per year and may invite up to five guests from outside their firms to most of our events. If you were to become a member, you would attend our meetings at no cost. In addition to our regular Spring and Fall Members’ Meetings, Research Sponsors take part in exclusive programs, meeting in small groups—roundtable discussions, special lectures, and purely social events—with some of the nation’s, and now the world’s, most distinguished thinkers. Last May, some of our Research Sponsors convened in London to meet with Axel Weber, Chairman of UBS AG, at the Royal Automobile Club for a day of discussions on European Property Markets: Opportunities and Risks. They will meet again this May in London with Ignazio Visco, Governor of Banca Italia. These smaller group meetings are one of the most popular features of the Research Sponsors Program. In recent years, our Sponsors have met with notables such as Lonestar’s John Grayken, Vanguard’s Tim Buckley, Jamie Dimon, Governor Chris Christie, New York Mayor Bloomberg, David Bonderman, CNN’s Fareed Zakaria, Dave Gergen, Eliot Spitzer and Florida Senator Marco Rubio. If you have any questions, please feel free to contact Susan Stutsman Sessa at 215-898-3824 or email [email protected]. We look forward to welcoming you as a member of The Zell/Lurie Real Estate Center. The Zell/Lurie Real Estate Center at Wharton Research Sponsor Program Research Sponsors of the Zell/Lurie Real Estate Center provide added support for our core research efforts. Their financial support is essential to our attracting and retaining the very best faculty at Wharton to educate the future leaders of the industry and to ensure that our dynamic research agenda encompasses topics of interest to those on the profession’s front line. They also support and help formulate the Zell/Lurie Center’s annual meetings—the preeminent gatherings of the real estate and financial leaders. In addition to our regular Spring and Fall Members’ Meetings, Research Sponsors take part in exclusive programs, meeting in small groups—roundtable discussions, special lectures, and purely social events—with some of the nation’s, and now the world’s, most distinguished thinkers. In May 2015, some of our Research Sponsors convened in London at the Royal Automobile Club to meet with Ignazio Visco, governor of Banca D’Italia, who spoke on“Fostering the European Recovery: The Role of Monetary Policy.” Last year, they met in London with Axel Weber, Chairman of UBS AG, for a day of discussions on “European Property Markets: Opportunities and Risks.” These smaller group meetings are one of the most popular features of the Research Sponsor Program. In recent years, our Sponsors have met with notables such as Lonestar’s John Grayken, Vanguard’s Tim Buckley, Jamie Dimon, Governor Chris Christie, New York Mayor Bloomberg, David Bonderman, CNN’s Fareed Zakaria, Dave Gergen, Eliot Spitzer and Florida Senator Marco Rubio. If you would like to become a Research Sponsor of the Zell/Lurie Real Estate Center or would like further information, please call Susan Sessa at 215-8983824 or contact her via email at [email protected]. The Zell/Lurie Real Estate Center at Wharton Research Sponsors Amachie K. Ackah Spencer Haber H/2 Capital Partners Chairman of the Advisory Board Matthew J. Lustig Lazard Vice Chairman of the Advisory Board Amachie K. Ackah Clay Cove Capital David Adelman Campus Apartments Dean S. Adler Lubert-Adler Management Albert P. Behler Paramount Group Robert B. Bellinger ASB Capital Management Steven A. Berger PRG Real Estate Jeff T. Blau Related Companies Trevor P. Bond W. P. Carey Company David A. Brause Brause Realty E. Todd Briddell CenterSquare Investment Management John Bucksbaum* Bucksbaum Retail Properties Martin Burger Silverstein Properties Jack Chandler BlackRock Yon K. Cho Pacific Coast Capital Partners Mitchell D. Clarfield Berkeley Point Capital Steve Clark Cypress Real Estate Investors Edward W. Cook III McCarthy Cook Charles Davidson III The Brookdale Group Ronald M. Dickerman Madison International Realty Anthony W. Dona Thackeray Partners Michael A. Elrad GEM Realty Capital Michael D. Fascitelli* MDF Capital Alan F. Feldman Resource Real Estate Jeffrey Fishman Robert K. Futterman & Associates Lizanne Galbreath-Megrue * Galbreath & Company R. Bruce Gamble Navigant Consulting William Glazer Keystone Property Group Jacques N. Gordon LaSalle Investment Management John Grayken Lone Star Europe Acquisitions Ltd. James Groch CBRE David J. Haemisegger NorthPark Management Company Lewis Heafitz Equity Industrial Partners Corporation David A. Helfand Equity Commonwealth Ara K. Hovnanian Hovnanian Enterprises Andrew Isikoff The Silverfern Group Andrew J. Jonas Goldman, Sachs & Company Jeffrey M. Kaplan Meadow Partners Steven A. Karpf Dermody Capital Jeffrey Katz Sherwood Equities Chaim Katzman Gazit Group USA Ivan Kaufman Arbor Commercial Mortgage Michael Kercheval International Council of Shopping Centers John R. Klopp Morgan Stanley Real Estate Robert A. Knakal Cushman & Wakefield, Inc. A. Eugene Kohn Kohn Pedersen Fox Associates Bradley J. Korman Korman Communities Martin Kravet Royal Abstract of New York Michael Lehrman Cantor Fitzgerald Robert C. Lieber * C-III Capital Partners Richard Mack Mack Real Estate Group Roy Hilton March * Eastdil Secured W. Patrick McDowell McDowell Properties Robert K. Mericle Mericle Commercial Real Estate Services Steven Montague JSRE Mitchell L. Morgan Morgan Properties Nancy A. Nasher NorthPark Management Company Jay Neveloff Kramer Levin Naftalis & Frankel David O’Connor High Rise Capital Partners Denise Olsen GEM Realty Capital Steven Orbuch Och-Ziff Real Estate Robert P. Perry CarVal Investors Stephen D. Plavin Blackstone Mortgage Trust Bruce C. Ratner Forest City Enterprises Jonathan A. Rosen RCP General Neil L. Rubler Candlebrook Properties Eric D. Schlager The Bulfinch Companies Adam R. Schwartz Angelo, Gordon & Company Neil H. Shah Hersha Hospitality Trust Douglas W. Shorenstein The Shorenstein Properties David Simon Simon Property Group Edward M. Siskind Cale Street Partners Craig A. Spencer The Arden Group Barry S. Sternlicht Starwood Capital Group Keith D. Stoltz Stoltz Real Estate Partners Carl B. Tash Starwood Capital Group Gary R. Tesch McGuyer Homebuilders Richard F. Tomlinson II Tessa Truex Hudson Advisors Jed Walentas Two Trees Management Company Samuel Zell Samuel Zell Foundation [5-8-15] The Zell/Lurie Real Estate Center at Wharton SPRING Members’ Meeting Wednesday and Thursday April 29-30, 2015 The Rittenhouse, Philadelphia Agenda Spri Gre ng MeThe 201 at s pea mbers’ 5 k greaers, greMeeting t top at p ─ a ics! nels , Wednesday, April 29, 2015 5:30–6:20 p.m.Registration, Cocktails, Hors d’oeuvres (Reception area outside Grand Ballroom) Research Sponsors’ Reception (Parkview Suite, 4th Floor) (open only to Research Sponsors, Executive Committee, and special guests) 6:30–7:20 p.m. Dinner (Grand Ballroom) 7:30–7:45 p.m.Awards: Recognition of student and faculty award winners Thomas J. Barrack, Jr. 7:45–8:30 p.m. Featured Speaker: Thomas J. Barrack, Jr., Founder, Chairman and Chief Executive Officer, Colony Capital, LLC “The Opportunity Today May Be in the Mortar, Not the Bricks” 8:30–9:30 p.m. The Rittenhouse, Philadelphia Networking (Boathouse Row Bar) THURsday, April 30, 2015 8:00–9:00 a.m. Registration, Networking Breakfast 9:00–9:10 a.m. Roy Hilton March Welcoming Remarks Roy Hilton March, Chief Executive Officer, Eastdil Secured; and Chairman, Advisory Board, Zell/Lurie Real Estate Center at The Wharton School Joseph Gyourko, Nancy Nasher and David Haemisegger Director, Zell/Lurie Real Estate Center at Wharton 9:10–10:10 a.m. Panel Session 1: Wharton on the Global Economy Leading Wharton economists will discuss their forecasts for the domestic and global economies going forward, along with implications for the different property markets and sectors. How will problems in Europe and a slowdown in China affect the U.S.? What should we expect in terms of public policy, including a potential change in Federal Reserve policy to raise rates later this year? Peter Linneman Todd Sinai Moderator: Todd Sinai, Professor of Real Estate and Business Economics and Public Policy, The Wharton School Panelists: Joseph Gyourko Peter Linneman, Emeritus Professor of Finance and Business & Public Policy, The Wharton School 10:10–10:35 a.m. Break SPRING Members’ Meeting Wednesday and Thursday April 29-30, 2015 10:35–11:40 a.m.Panel Session 2: Canaries in the Mine: Are They Chirping? What Should You Be Doing Now to Prepare for a Changing Cycle? Ziel Feldman Spencer B. Haber James Groch Jeffrey C. Hines What are the red flags that alert you to the end of an upcycle? Are you seeing any yet? What can you do once you start seeing these signs? Is this a typical cycle? How do you factor in this long period of government intervention–the net result being accessible capital at very low rates? When this ends, how does it affect real estate values? Moderator: Asuka Nakahara, Associate Director, Zell/Lurie Real Estate Center at Wharton Panelists: Ziel Feldman, Founder and Chairman, HFZ Capital James Groch, Chief Financial Officer and Global Director of Corporate Development, CBRE Spencer B. Haber, Chief Executive Officer, H/2 Capital Partners LLC; Vice Chairman, Advisory Board, Zell/Lurie Real Estate Center at Wharton Jeffrey C. Hines, President and Chief Executive Officer, Hines 11:40 a.m.–12:05 p.m. Break Keynote Speaker: David M. Rubenstein, Co-Founder and Co-Chief Executive Officer, The Carlyle Group “Thoughts on the Private Equity Industry” 12:05–1:00 p.m. Asuka Nakahara David M. Rubenstein 1:00–1:55 p.m.Lunch 1:55–2:50 p.m.Panel Session 3: The Investment Market in Real Estate Kenneth Caplan Eyal Ofer Brian Kingston Global capital flows have impacted many real estate markets here and abroad. Changes in central bank policies around the world, as well as diverging growth opportunities across countries and markets, will affect real estate financing opportunities going forward. What changes are occurring now and what should we expect going forward? How will deal structures and parameters be affected for different types of borrowers, markets, and property sectors? Hear about this and more from our two leading global investors. Moderator: Roy Hilton March Panelists: Kenneth Caplan, Global Chief Investment Officer, Real Estate, Blackstone Brian Kingston, President and Chief Investment Officer, Brookfield Property Group 2:50–3:10 p.m. Break 3:10–4:10 p.m. Panel Session 4: A Conversation with Titans Three of the giants of the industry share their thoughts on the risks and challenges facing real estate investors today. This session will be broad ranging, covering real estate capital markets and operational issues, as well as political risk, both here and abroad. As always, we will allow time for your questions. Thomas Pritzker Moderator: Peter Linneman Featuring: Eyal Ofer, Chairman, Ofer Global Thomas Pritzker, Chairman and Chief Executive Officer, The Pritzker Organization Samuel Zell, Chairman, Equity Group Investments Sam Zell 4:10 p.m. Closing Comments Spencer B. Haber The Samuel Zell and Robert Lurie Real Estate Center Agenda Rea d al FALL MEMBERS’ MEETING l ab F o a u ll Me Tuesday and Wednesday, r lat out A n ev October 28 & 29, 2014 mbe est ent not rs’ Mee ting to b T ,O 28, 2014 ─ e The Colloquium Level, 8th Floor, Jon M. Huntsman Hall, The Wharton School m i University of Pennsylvania, 3730 Walnut Street, Philadelphia ssed ! uesday ctober 6:30–8:30 p.m. Max M. Farash Real Estate Roundtable Research Sponsors, Executive Committee and special guests only 6:30–7 p.m. Cocktails 7–8:30 p.m. Dinner Speaker: Geoffrey Garrett, Dean of The Wharton School Geoffrey Garrett Wednesday, October 29, 2014 The Inn at Penn, 3600 Sansom Street, Philadelphia 8–9 a.m. Registration, Members’ Continental Breakfast (Regent–St. Marks Room) 8–8:50 a.m. Mentors meet with students, concurrent 9–9:10 a.m. Welcoming Remarks (Woodlands Ballroom) Roy Hilton March, CEO, Eastdil Secured; Chairman of the Advisory Board, Zell/Lurie Real Estate Center 9:10–9:40 a.m. State of the Zell/Lurie Real Estate Center (Woodlands Ballroom) Joseph Gyourko, Nancy A. Nasher and David Haemisegger Director, Zell/Lurie Real Estate Center Asuka Nakahara, Associate Director, Zell/Lurie Real Estate Center Todd Sinai, Professor of Real Estate and Business Economics and Public Policy, The Wharton School Roy Hilton March Peter Linneman Eric Adler 9:40–10:45 a.m. Panel: Investments and Investment Vehicles (Woodlands Ballroom) What does the future hold for REITs, private equity, open end funds, private REITs, separate accounts and various other forms of real estate ownership? Will institutional money push private ever more to the sidelines? How will the rise of defined contribution plans (and the demise of defined benefit plans) impact the structure of real estate vehicles? Moderator: Peter Linneman, Sussman Professor Emeritus of Real Estate, The Wharton School Panelists: Eric Adler, Chief Executive Officer, Prudential Real Estate Investors Michael D. Fascitelli, Founder, MDF Capital David Simon, Chief Executive Officer, Simon Property Group Michael D. Fascitelli 10:45–11:05 a.m. Break David Simon FALL MEMBERS’ MEETING Tuesday and Wednesday, October 28 & 29, 2014 11:05 a.m. –12 noon Farash Distinguished Speaker (Woodlands Ballroom) Dr. Angela Lee Duckworth, Department of Psychology, University of Pennsylvania “True Grit: How to Make Our Children, Firms and Communities More Successful” Angela Duckworth 12–1:15 p.m. Lunch (Regent–St. Marks Room) 1:15–2:15 p.m. Faculty Breakout Sessions A. Housing Finance Reform (Woodlands Ballroom 1) Moderator: Susan M. Wachter, Albert Sussman Professor and Professor of Real Estate and Finance, The Wharton School After a brief flurry of activity last year, the impetus for reform has waned in Washington. What goals should we have for housing policy? What is achievable politically? What role should the real estate industry play in designing and implementing housing policy reform? Professor Wachter, who has significant experience in Washington and is a leading housing expert, will moderate a discussion on the nature of reform we should try to achieve, and will map out a political strategy to get us there. B. CEO Challenges—Running a Real Estate Company (Woodlands Ballroom 2) Moderator: Asuka Nakahara, Associate Director, Zell/Lurie Real Estate Center How should the CEO and senior executives think about strategy, succession planning, capital needs, compensation, and firm culture? Given the demands of “the big deal,” the next hot issue over the transom (via email of course!), and your family waiting at home for you for dinner, how do you balance your schedule? What are the simple, yet big lessons we have all learned in leading large and small organizations? 2:15–2:35 p.m. Break 2:35-3:45 p.m. Technology and Real Estate (Woodlands Ballroom) Technological changes are accelerating in all sectors of real estate. How have they affected how tenants use space and what they want from landlords? How landlords attract and market space to users also is changing. What do you need to know about technology over the next two to three years if you are going to remain a great investor and asset manager? Hear from leading experts across different sectors on this vital topic. Moderator: Joe Gyourko Panelists: Jeff Brodsky, President, Related Management Elie Finegold, Senior Vice President, Global Innovation, CBRE William P. Hankowsky, Chairman, President and CEO, Liberty Property Trust Neil H. Shah, President and Chief Operating Officer, Hersha Hospitality Trust Closing Comments Roy Hilton March Susan Wachter Asuka Nakahara Jeff Brodsky Elie Finegold 3:45 p.m. William P. Hankowsky Neil Shah IHFP and HOFINET Housing Solutions in a Changing World The Samuel Zell and Robert Lurie Real Estate Center The International Housing Finance Program The International Housing Finance Program (IHFP) is part of the Samuel Zell and Robert Lurie Real Estate Center at The Wharton School. • IHFP was established in 1985 to foster excellence in housing policy and housing finance education, research, and technical advisory services, with a specific focus on developing and emerging market economies. Marja Hoek-Smit, Director of the IHFP, Rick Hathaway, Habitat for Humanity Vice-President for Asia-Pacific, and Henry Cisneros, former US Housing Secretary, confer in the Philippines after IHFP’s housing finance workshop for Habitat for Humanity in October 2013. • IHFP offers specialized state-of the art education tailored to international housing finance industry professionals; academic institutions and professional trade associations in emerging economies; and governments in the process of transforming their housing policies and housing finance institutions. The Housing Finance Information Network As part of its mission to improve international housing finance, IHFP initiated a global data bank and informational web portal on housing finance with seed money from IFC and FMO. The Housing Finance Information Network (HOFINET) is: IHFP features an expert faculty, from The Wharton School and professional practice, all leaders in both advanced and emerging economies. IHFP offers regular courses at The Wharton School and special overseas programs tailored to the needs of regions or countries. • IHFP is an independent program and is uniquely positioned to provide objective analysis and technical assistance in housing finance and to help build up educational infrastructure in housing finance in emerging market countries. Its core faculty has worked in more than 60 countries. • A large documents library, news and blogs that stimulate sharing of country case studies, innovations and best practices, and the distribution of relevant research. A global source of information and standardized data on more than 13000 countries that are updated yearly, and more than 350 core topic pages produced by world experts. • A research center that allows statistical data downloads across countries, encouraging comparative research. About Marja Hoek-Smit Marja Hoek-Smit is the founder and director of the IHFP, the founder and executive director of HOFINET, and an adjunct professor in Wharton’s Real Estate Department at the University of Pennsylvania. Her research and consulting work focuses on the analysis of housing markets and urban and housing policy, the deepening of housing finance systems and the reform and design of housing subsidy systems, particularly in developing and emerging market economies. Her advanced degree is from the University of Amsterdam. Prior to joining Penn, she taught at the University of Nairobi, Kenya. Marja Hoek-Smit Director, IHFP and HOFINET, Inc. The Zell/Lurie Real Estate Center The Wharton School, University of Pennsylvania 1462 Steinberg Hall-Dietrich Hall 3620 Locust Walk Philadelphia, PA 19104-6302 Phone: 215-898-3313/9734 Fax: 215-898-2220 email: [email protected] A light moment during class discussions in the IHFP 2013 course at the Wharton School www.housingfinance.wharton.upenn.edu www.hofinet.org About the Annual IHFP Executive Education Program Housing Finance in a Changing Global Environment June 2015, Philadelphia, PA Housing Finance for Sub-Saharan Africa October 2014, Cape Town, South Africa The need for objective and analytical education in housing finance has never been greater. Many countries are transforming their housing finance systems in response to recent global changes in risk regulations, government guarantees and subsidies and capital markets. Both policy makers and private practitioners need cutting-edge information on the sector. This program addresses that need by providing an intensive period of education in policy innovations, and financial and managerial aspects of housing finance. The IHFP Executive Education Program has two objectives: • To enhance the participants’ professional abilities. • To improve the short- and long-term effectiveness of their sponsoring organizations and the housing finance system in their countries. Participants come from private and government housing finance institutions, academia and international development agencies from both emerging and advanced economies. The program takes a holistic view of housing finance and includes technical, legal, regulatory, and policy issues in housing finance. Some of the specific topics that will be covered are: • • • • • • • • • • Housing markets, housing policy and housing finance Recent innovations and reforms in various housing finance systems Primary market innovations Valuation of mortgages and mortgage instruments The business of housing finance: profitability and risks Types of funding models for mortgage finance Shari’ah compliant housing finance Development and construction finance Real estate cycles and the safety and soundness of financial institutions Extending mortgage lending and housing services to lower income groups Workshop on Securitization and Mortgage Bonds June 2015, Philadelphia, PA The workshop provides hands-on teaching in the preparation of mortgage securitizations, mortgage bond and hybrid deals. It is taught by senior practitioners from the international capital markets division of BoA Merrill Lynch, legal experts from Andrews and Kurth Law Firm and Moody’s rating agency. The 2015 program will be at The Wharton School, Jon M. Huntsman Hall, 3730 Walnut Street, University of Pennsylvania, Philadelphia 19104. Members of the IHFP’s 2014 session on Housing Finance for Sub-Saharan Africa at Cape Town University Business School The Housing Finance Course for Sub-Saharan Africa 2014 was held on the campus of The Business School of Cape Town University. The course is a joint effort between the Wharton School’s International Housing Finance Program of the Zell/Lurie Real Estate Center and the Executive Program of Cape Town University’s Business School. The participants in the course represented senior professionals from private financial institutions, local and central government housing institutions, non-governmental finance institutions and development organizations from SubSaharan countries, including South Africa Nigeria, Kenya, Tanzania, Uganda, Zambia, Zimbabwe, Mozambique, Angola, Tunesia. The course now enters its fifth year and is held annually during the first full week of October. For more information, go to http://housingfinance. wharton.upenn.edu/Execed.htm Primary Sustaining Members Richard Adler E II Capital Management Harry Alcock UDR Jeffrey Altman Houlihan Lokey William M. Andersen Longview Property Group Riprand Count Arco American Asset Corporation Henry A. Ashforth III The Ashforth Company Nick Azrack The Baupost Group Jeffrey Baker Savills Samuel H. Becker Blank Rome David Belford Colony Capital William R. Bintzer Assurant Asset Management Matthew S. Blank Blank Berger James Block KRE Group Holger Boerner Fidelity Investments Kelly B. Brasfield American Land Fund Christopher Buccini The Buccini/Pollin Group Cia Buckley Dune Real Estate Partners Thomas R. Burton Alex. Brown Realty Edward L. Carey Clarion Partners Eddie Chabbott Blue Mountain Capital Management Jarret Cohen Fir Tree Partners Michael D. Colacino Studley Andrew D. Coler PNC Bank David J. Congdon Hines James Corl Sigular Guff & Co. William M. Cotter Wells Fargo Bank Jonathan B. Cox AvalonBay Communities Michelle Creed Landmark Partners John J. Curry Harvest Equities Kevin Davis Taconic Investment Partners Paul De Martini Tishman Speyer Kathleen Gleason Donovan UBS Patrick Duffy Chatham Bay Group Kinsey Dyckman Credit Suisse Jonathon Eck Federal Reserve Charles L. Elliott Toll Brothers Dan Faust Akerman David J. Feldman First American Title Insurance Company T. Ritson Ferguson CBRE Clarion Securities Alexander E. Fisher A. Fisher Company Mark C. Fitzgerald High Real Estate Group Richard Fogler Kingwest & Company Michael J. Franco Vornado Realty Trust Ben Friedman Abacus Capital Group Adam Gallistel GIC Real Estate Inc. Keith B. Gelb Rockpoint Group Katherine Schmidt Giordano Aberdeen Asset Management Jeffrey Goldberg The Milestone Group Santosh Govindaraju Convergent Capital Partners Richard J. Green Firstrust Bank Gary Greenberg MCO Properties Brett Hamilton Alliance HSP Partners/The Shidler Group Robert S. Hankin The Hankin Group William P. Hankowsky Liberty Property Trust Deborah L. Harmon Artemis Real Estate Partners Alison Hawkins CBRE Global Investors Todd Henderson RREEF Warren Higgins Berkadia Leslie Himmel Himmel + Meringoff Properties Philip A. Hofmann Oaktree Capital Management Jim W. Hovey The Fox Companies Tara Hovey Optima Leo Huang Ellington Management Group James L. Iker The JBG Companies Robert Ivanhoe Greenberg Traurig Andrew L. Jagoda Katten Muchin Rosenman Richard D. Jones Dechert Randi Kahn SFG Capital Daniel Katz SDN Management John Khoury Long Pond Capital Phil Kianka Chambers Street Properties Steven A. Kohn Cushman & Wakefield Sonnenblick-Goldman Leonard I. Korman Korman Commercial Properties Robert D. Lane, Jr. Stevens & Lee Robert T. Lapidus L&L Holding Company Scott J. Lawlor Waypoint Residential Evan Z. Lazar Dentons Europe CS Keith Locker Inlet Capital Thomas J. Maher Wells Fargo Commercial Mortgage Banking David G. Marshall Amerimar Realty Company Gerald Marshall Amerimar Enterprises William F. Martin Case, Pomeroy & Company, Inc. Andrew Mathias S.L. Green Realty Corp. Marcus S. Meijer Meyer Bergman Primary Sustaining Members Edward J. Minskoff Edward J. Minskoff Equities Mark S. Misencik The Mid-America Management Corp. Josh Morris Davidson Kempner Capital Management Chris Mundy Oxford Properties Martin D. Nass CTPartners David J. Neithercut Equity Residential Martin Newburger KSL Capital Partners Frank Nitschke Prudential Real Estate Investors Mark Nolan Madison Development Ireland Will Obeid Gemini Real Estate Advisors Andrea Olshan Olshan Properties Coburn Packard Apollo Global Management Edward S. Pantzer Pantzer Properties Theodore C. Pedas Circle Management Company Matthew A. Pestronk Post Commercial Real Estate Gerald Pietroforte Alvarez and Marsal Real Estate Advisory Services Martin D. Polevoy DLA Piper Robert M. Pollack Marcus & Pollack Jeffrey S. Quicksilver Walton Street Capital William Rahm Centerbridge Partners Jacob Reiter Verde Capital Byron Renfro Orchard Commercial Robert J. Rieger Pilot Real Estate Group Neil I. Rodin International Financial Co. Charles Rosenzweig Criterion Real Estate Capital Howard S. Roth Ernst & Young David Rothenberg Tishman Realty Corporation Richard Ruben Ruben Companies David B. Rubenstein Rubenstein Partners Kenneth A. Ruby Ken Ruby Construction Company A. Sam Saegh Acta Realty Corp. Laura Sagues CBRE Bruce J. Schanzer Cedar Realty Trust Walter P. Schmidt Rockwood Capital Corporation Bruce S. Schonbraun FTI Consulting Jim Schroder TriBridge Residential Martin Selig Martin Selig Real Estate Robert K. Shasha The Cotswold Group Shimon Shkury Ariel Property Advisors Barry Sholem MSD Capital Glen B. Siegel Belvedere Capital Robert A. Silverman Cozen O’Connor Michael Sklaroff Ballard Spahr Craig H. Solomon Square Mile Capital Management Gregory L. Steinhauer American Life Eric L. Stern Morgan Lewis & Bockius Andrew Stewart Argosy Real Estate Gerard H. Sweeney Brandywine Realty Trust Robert S. Taubman The Taubman Company Christophe Terlizzi First Niagara Bank William Tresham Ivanhoe Cambridge Robert K. Vahradian GoldenTree InSite Partners Josh Wechter Jamestown Properties Bryan S. Weingarten WP Realty David Welsh Normandy Real Estate Partners Gregory A. White Prima Capital Advisors Kavindi Wickremage Harvard Management Company Ed Wideman Susquehanna Holdings Co., Ltd. Seth Wise BBX Capital Michael B. Wisniewski Arbor Michael Wong GI Partners Joseph Yiu ElmTree Funds Jimmy Yung TPG Capital Bruce Zalaznick RedMill Capital Richard S. Ziman Rexford Industrial Realty [4-29-15] Member Listing by Company A. Fisher Company Alexander E. Fisher Arbor Commercial Mortgage Ivan Kaufman Abacus Capital Group Benjamin Friedman The Arden Group Joseph Caruso Adam Sher Craig A. Spencer Aberdeen Asset Management Andrew Gibbs Katherine Schmidt Giordano Acta Realty Corp. A. Sam Saegh Akerman Dan Faust Alex. Brown Realty Thomas R. Burton Jake Martin Alliance HSP Partners/The Shidler Group Brett Hamilton Matt Handel Patrick Haynes Richard Previdi Alvarez & Marsal Real Estate Advisory Services Stephen Nuzzolo Gerald Pietroforte American Asset Corporation Riprand Count Arco Brian Briody Joachim de Belgique American Land Fund Kelley B. Brasfield Christine Burk Christine Kwak Edwin Rosenthol American Life Larry Ice Jonathan Manheim Gregory L. Steinhauer Amerimar Enterprises David Hagan Joshua Maes Gerald M. Marshall Amerimar Realty Company David G. Marshall Angelo, Gordon & Company Matt Jackson Reid K. Liffmann Christine Lyndon Dana Roffman Daniel Rudin Adam R. Schwartz Steve White Apollo Global Management Coburn Packard Stuart Rothstein Arbor Michael B. Wisniewski * Past Chairman Argosy Real Estate Bryan Antman David J. Butler Joshua Cohen Sarah Nasuti Doelger Zach Shipps Andrew Stewart Ariel Property Advisors Shimon Shkury Artemis Real Estate Partners Michael Bernstein Deborah L. Harmon Michael Stratton ASB Capital Management Robert R. Bellinger Nicolas Franzetti Brodie Ruland The Ashforth Company Henry A. Ashforth III H. Darrell Harvey Assurant Asset Management William R. Bintzer Jay Brinkerhoff AvalonBay Communities Jonathan B. Cox Timothy Walters Ballard Spahr Dominic J. De Simone Bart Mellits Michael Sklaroff Raymond Truitt The Baupost Group Nick Azrack James Lenhart William Musto BBX Capital Real Estate Andrew Meran Seth Wise Belvedere Capital Glen B. Siegel Berkadia Matthew Cullison Warren Higgins Berkeley Point Capital Mitchell D. Clarfield Jeff Day BlackRock Jack Chandler Steve Cornet Wayne Fitzgerald Dan MacEachon Kathy Malitz Benjamin Young Blackstone Mortgage Trust Christopher Chee Olivia John Austin Pena Steven D. Plavin Jonathan Sizemore Kevin Wachter Blank Berger Darryl Berger, Jr. Matthew S. Blank Sam Blank Blank Rome Samuel H. Becker Blue Mountain Capital Management Eddie Chabbott Brandywine Realty Trust Jeff DeVuono Gerard H. Sweeney Thomas E. Wirth Brause Realty David A. Brause The Brookdale Group Chip Davidson Fred Henritze Robert Turner The Buccini/Pollin Group Darren R. Anzelone Christopher Buccini Karl J. Wagner Bucksbaum Retail Properties John Bucksbaum The Bulfinch Companies Eric D. Schlager C-III Capital Partners Robert C. Lieber Victoria Ornstein Cale Street Partners Edward M. Siskind Campus Apartments David Adelman Daniel Bernstein Candlebrook Properties Neil L. Rubler Cantor Fitzgerald Michael Lehrman CarVal Investors Robert P. Perry Member Listing by Company Case, Pomeroy & Company, Inc. William F. Martin Paul Totilo CBRE David Adler James Groch CBRE Laura Sagues CBRE Clarion Securities T. Ritson Ferguson CBRE Global Investors Alison Hawkins Cedar Realty Trust Bruce J. Schanzer Centerbridge Partners Adam Burinescu Matt Dabrowski Jacob Himmelrich William Rahm CenterSquare Investment Management E. Todd Briddell Chad Burkhardt Mark Greco Norman M. Kranzdorf Rob Goldstein P.J. Yeatman Chambers Street Properties Phil Kianka Greg Vinson Chatham Bay Group Ryan Boll Patrick Duffy Jay Freebery Circle Management Company Paul Kume Theodore C. Pedas William Pedas Jon Sally Clarion Partners Edward L. Carey David J. Gilbert Hugh Macdonnell Paula Schaefer Clay Cove Capital Amachie K. Ackah Colony Capital David Belford Convergent Capital Partners Santosh Govindaraju Nik Sachdev Michael E. Warren The Cotswold Group Robert Y. Shasha Cozen O’Connor Howard Grossman Bernard Lee Jeffrey A. Leonard Robert A. Silverman James R. Williams Credit Suisse Kunal Doshi Kinsey Dyckman Criterion Real Estate Capital Adam Falk Charles Rosenzweig Edward J. Minskoff Equities Benjamin McGrath Edward J. Minskoff E II Capital Management Richard Adler Ellington Management Group Leo Huang ElmTree Funds Joseph Yiu Equity Commonwealth David A. Helfand Equity Industrial Partners Corporation Lewis Heafitz CTPartners Martin D. Nass Equity Residential David J. Neithercut Cushman & Wakefield, Inc. Jonathan Hageman Robert A. Knakal Paul Massey Ernst & Young Howard S. Roth Cushman & Wakefield Alexander E. Hernandez Dave Karson Steven A. Kohn Cypress Real Estate Investors Steve Clark Timothy Clark Davidson Kempner Capital Management Josh Morris Dechert Matthew Clark David W. Forti Richard D. Jones Jason S. Rozes Jay Zagoren Dentons Europe CS Evan Z. Lazar Dermody Capital Steven Karpf DLA Piper Jay Epstien Martin D. Polevoy Dune Real Estate Partners David Beznos Cia Buckley Eastdil Secured Josh King David Lazarus Roy Hilton March Jeff Scott Meagan Welch Kenneth S. Ziebelman Federal Reserve Vejay Bhoopsingh Michael Brown William Clark Jonathon Eck Edson Edwards Jonathan Levantino Fidelity Investments Holger Boerner First American Title Insurance Company Adam Cutler David J. Feldman Alan Gottlieb Randall L. Scott First Niagara Bank Paul Cronin Marcy Fink Christopher Terlizzi Steven J. Weeks Firstrust Bank Mark A. Duffy Richard J. Green Seth Mackler Joseph Rago Fir Tree Partners Jarret Cohen Jared Halperin Zain Koita Brian Yuen Forest City Enterprises Bruce C. Ratner The Fox Companies Jim Hovey FTI Consulting Bruce S. Schonbraun Member Listing by Company Galbreath & Company Lizanne Galbreath-Megrue Gazit Group USA Chaim Katzman Kedem Rephaeli High Rise Capital Partners David P. O’Connor Mason Rippey Himmel + Meringoff Properties Leslie Himmel GEM Realty Capital Michael A. Elrad Denise Olsen Hines David J. Congdon Beth Demba Gemini Real Estate Advisors Will Obeid Houlihan Lokey Jeffrey Altman GI Partners Michael Wong Hovnanian Enterprises Ara K. Hovnanian GIC Real Estate Inc. Adam Gallistel Hudson Advisors Tessa Truex Frederick Yee Goldman, Sachs & Company Jeff Barclay Michael J. Graziano Andrew J. Jonas Peter A. Weidman Greenberg Traurig Jonathan Gelman Robert Ivanhoe GTIS Partners Ed McDowell David Pringle Robert K. Vahradian H/2 Capital Partners Maury Apple Spencer Haber Adam Goldberg Bryan Gross Mourad Kattan Jessican Lee Jessican Overlander Michael Siegel William Stefko Isadora Rothstein Joseph Zhong The Hankin Group James Fuller Michael Hankin Chrissy Helmig Robert S. Hankin Michael Malloy Inlet Capital Keith Locker International Council of Shopping Centers Michael Kercheval International Financial Co. Neal I. Rodin Ivanhoé Cambridge William Tresham Jamestown Properties Shegun Holder Josh Wechter John Wilson The JBG Companies Moina Banerjee Ed Chaglassian Edward Featherstone James L. Iker Ashesh Parikh James Woods JSRE Philip Dweck Alen Gollender Steven Montague Katten Muchin Rosenman Andrew L. Jagoda Donald H. Siskind Scott Vetri Harvard Management Company Kavindi Wickremage Ken Ruby Construction Company Kenneth A. Ruby Harvest Equities John J. Curry Keystone Property Group Aimee L. Alexander William Glazer Hersha Hospitality Trust Naveen Kakarla Ashish Parikh Jay Shah Neil H. Shah High Real Estate Group Mark C. Fitzgerald Michael J. Lorelli Kingwest & Company Richard Fogler Kohn Pedersen Fox Associates A. Eugene Kohn Korman Commercial Properties Alison Korman Leonard I. Korman Gerald Segal Korman Communities Robert S. Grossman Bradley J. Korman Gabe Marabella R. Scott Relick Kramer Levin Naftalis & Frankel Jay Godman David Neveloff Jay A. Neveloff Neil R. Tucker KRE Group James Block Jeremy Kaplan Darin Raiken KSL Capital Partners Martin Newburger Steve Siegel L&L Holding Company Josh Carson Robert T. Lapidus Laura Yablon Rappaport Landmark Partners Vanessa Anderson Michelle Creed LaSalle Investment Management Jacques N. Gordon Lazard Andrew Domont Matthew J. Lustig Alan F. Riffkin Alex Russo Liberty Property Trust Brian R. Cohen Michael Cohen Tony Ewing William P. Hankowsky Lone Star Acquisitions Europe Ltd. John Grayken Long Pond Capital John Khoury Longview Property Group William M. Andersen Joshua Introvatolo Fei Xue Lubert-Adler Management Dean S. Adler R. Eric Emrich David H. Solis-Cohen III Member Listing by Company Mack Real Estate Group Jonathan Goldberg Richard Mack Madison Development Ireland Mark Nolan Madison International Realty Michael Chen Jason Chiang Evan Cohen Ronald M. Dickerman Carey J. Flaherty Christopher Mendez Marcus & Pollack Robert M. Pollack Martin Selig Real Estate Martin Selig McCarthy Cook Edward W. Cook III McDowell Properties Jake Gentling Ken Lee W. Patrick McDowell MSD Capital Barry Sholem Navigant Consulting Darin L. Buchalter R. Bruce Gamble Normandy Real Estate Partners David Welsh PRG Real Estate Steven A. Berger Samuel C. Foster NorthPark Management Company David J. Haemisegger Nancy A. Nasher Prima Capital Advisors Nilesh Patel Gregory A. White Oaktree Capital Management Philip A. Hofmann Jason Keller Jimmy Zhan Prudential Real Estate Investors Frank Nitschke Irene Z. McFarland Och-Ziff Real Estate Michael Chen Steven Crowe Joshua Kirkham Michael Mirski Steven Orbuch RedMill Capital Bruce Zalaznick McGuyer Homebuilders Frank B. McGuyer Gary R. Tesch Olshan Properties Zachary Bornstein Alison Lies Michael Odell Andrea Olshan Matthew Winn MCO Properties Gary Greenberg Optima, Inc. Tara Hovey MDF Capital Michael D. Fascitelli Orchard Commercial Byron Renfro Meadow Partners Jeffrey M. Kaplan Oxford Properties Chris Mundy Chad Remis Mericle Commercial Real Estate Services Robert K. Mericle Meyer Bergman Markus S. Meijer The Mid-America Management Corp. Alan M. Krause Mark S. Misencik George Zilich The Milestone Group Jeffrey Goldberg Morgan Lewis & Bockius Tracy L. Steele Eric L. Stern Morgan Properties Brittany Morgan Jonathan Morgan Mitchell L. Morgan J. Patrick O’Grady Morgan Stanley Real Estate Michael Givner John Klopp Christie Park Post Commercial Real Estate Zachary Klinvex Ryan McCaffrey Matthew A. Pestronk Jon Robinson Pacific Coast Capital Partners Yon K. Cho Kevin Chin Jack Cooney Karen Christina Kriegel John W. Randall Bryan Thornton Pantzer Properties Jamie Berman Edward S. Pantzer Jason Pantzer Jordan Pantzer RCP General Jonathan A. Rosen Related Companies Jeff T. Blau Stephen M. Ross Resource Real Estate Alan F. Feldman Kevin Finkel Marshall Hayes Mehul Patel Rexford Industrial Richard S. Ziman Robert K. Futterman & Associates Jeffrey Fishman Rockpoint Group Keith B. Gelb Rockwood Capital Corporation Richard A. Kramer Antonio Larino Walter P. Schmidt Royal Abstract of New York Martin Kravet RREEF Real Estate Todd Henderson Ruben Companies Richard Ruben John Schrenker Paramount Group Albert P. Behler Chris Chao Daniel Lauer Dave Zobel Rubenstein Partners Steve Card Daniel Doyon David B. Rubenstein Eric George Schiela Pilot Real Estate Group Robert J. Rieger Samuel Zell Foundation Samuel Zell PNC Bank Andrew D. Coler Lloyd D. Eason Marcy Goldshear Andrew Siwulec Savills Studley Jeffrey Baker Jeffrey H. Cooper Member Listing by Company SDN Management Daniel Katz Noah Katz SFG Capital Randi Kahn Sherwood Equities Jeffrey Katz Shorenstein Properties Douglas W. Shorenstein Siguler Guff & Co. James Corl The Silverfern Group Andy Isikoff Silverstein Properties Martin Burger Simon Property Group David Simon SL Green Realty Corporation Jonathon Blackwell Brett Herschenfeld Andrew Mathias David Schonbraun Isaac Zion Square Mile Capital Management Jeffrey B. Citrin Craig H. Solomon Starwood Capital Group Jeffrey Shuster Barry S. Sternlicht Carl Tash Scott Wolstein Stevens & Lee Robert D. Lane, Jr. Stoltz Real Estate Partners Michael Connolly Keith D. Stoltz Studley Michael D. Colacino Neil Levy H. Hetherington Smith Susquehanna Holdings Co., Ltd. William Lee Robert Purdon Chris Wideman Edmund Wideman Laura Wideman Matthew Wideman Taconic Investment Partners Kevin Davis The Taubman Company Robert S. Taubman Thackeray Partners Joseph Chu Troy Daniel Anthony W. Dona Ryan Stempf Tishman Realty Corporation Alex Berman Zeke Faham Obaid Khan David Rothenberg Tishman Speyer Properties Tiago Correia Anil Erdem Mike Daschle Paul De Martini Natalia Macias Toll Brothers Christopher Clement Charles L. Elliott John R. McCullough TriBridge Residential Jim Schroder TPG Capital Jimmy Yung Two Trees Management Co. Anne Carson Blair Bonnie Campbell Sam Charney David Lombino Amish Patel Marina Trejo Jed Walentas UBS Kathleen Gleason Donovan David McNamara David Nass Oliver Striker UDR Mari Akers Harry Alcock Andrew Cantor Verde Capital Christine Carpenter Maureen Menarde Jacob Reiter Vornado Realty Trust Michael J. Franco W. P. Carey Katie Barthmaier Trevor Bond Chad Edmonson Gino Sabatini Thomas E. Zacharias Walton Street Capital Jeffrey S. Quicksilver Waypoint Residential Scott J. Lawlor Wells Fargo Bank William M. Cotter Jan La Chapelle David M. Martin David Pioch Wells Fargo Commercial Mortgage Banking Thomas J. Maher Thompson A. Maher WP Realty Bryan S. Weingarten [4-29-15] Real Estate Department Faculty Standing Secondary Emeritus Gilles Duranton Dean’s Chair in Real Estate Professor, Chairman, Real Estate Department Research interests: The costs and benefits of cities, transportation, urban growth, urban policies Robert P. Inman Richard King Mellon Professor of Finance; Chairman, Department of Business Economics & Public Policy; Professor of Real Estate and Business Economics & Public Policy; Senior Fellow, Leonard Davis Institute of Health Economics Research interests: Public finance, political economy, urban fiscal policy Jack Guttentag Professor Emeritus of Finance Fernando V. Ferreira Associate Professor of Real Estate and Business Economics & Public Policy Research interests: Urban economics and real estate; public economics Joseph Gyourko Martin Bucksbaum Professor of Real Estate, Finance, and Business Economics & Public Policy Nancy Nasher and David Haemisegger Director, Zell/Lurie Real Estate Center Research interests: Real estate finance; urban and real estate economics; Chinese and American housing markets Jessie Handbury Assistant Professor of Real Estate Research interests: International trade; industrial organization; urban economics Todd Sinai Professor of Real Estate and Business Economics & Public Policy Research interests: Risk and pricing in housing markets; taxation of real estate and capital gains; commercial real estate and real estate investment trusts; real estate and public economics Susan M. Wachter Albert Sussman Professor of Real Estate, Professor of Finance Research interests: Real estate economics; urban economics; housing finance Maisy Wong Assistant Professor of Real Estate Research interests: Real estate economics; public economics; development economics Peter Linneman Emeritus Professor of Finance and Business and Public Policy Research interests: Real estate finance and strategy; mergers and acquisitions Michael S. Knoll Theodore K. Warner Professor of Law; Professor of Real Estate; Co-director, Center for Tax Law and Policy Research interests: Corporate finance; corporate and financial law; finance; income taxation; international trade; real estate transactions; tax law; tax policy Anita A. Summers Emeritus Professor of Public Policy and Management, Real Estate, and Education Research interests: Urban economic development, urban public finance, educational finance Janice F. Madden Professor of Urban Studies, Regional Science, Sociology, and Real Estate; Associate Chairman, Department of Sociology Research interests: Urban and regional economics, labor markets, gender and race, demography Sam Chandan Adjunct Assistant Professor of Real Estate Affiliated Stuart Ebby Lecturer in Real Estate Marja Hoek-Smit Founder and Director, International Housing Finance Program; Adjunct Professor of Real Estate Research interests: Housing markets, housing finance systems, real estate development, urban and housing policy and subsidy systems with a focus on emerging market economies and developing countries Alan Feldman Lecturer in Real Estate Michelle Felman Lecturer in Real Estate Robert D. Lane, Jr. Lecturer in Real Estate Research interests: Commercial leasing; zoning and land use; boundary law; real estate taxation; real estate development; negotiation and structuring of international transactions Asuka Nakahara Lecturer in Real Estate Associate Director, Zell/Lurie Real Estate Center (4-17-15)