Leadership Roundtable - the Real Estate Executive Council

REAL ESTATE EXECUTIVE COUNCIL
Leadership Roundtable
October 20 and 21, 2014
The Studio Museum in Harlem
New York, New York
Leadership Roundtable
October 20 and 21, 2014
THE STUDIO MUSEUM IN HARLEM
144 West 125th Street, New York, NY 10027
&
THE RITZ-CARLTON NEW YORK, CENTRAL PARK
50 Central Park South, New York, NY 10019
Monday, October 20, 2014
12:00 – 1:00PM
LUNCH
The Cecil, 210 West 118th Street, New York, NY 10026, (212) 866-1262
1:30 – 1:45PM
WELCOME
The Studio Museum in Harlem (Theatre), 144 West 125th Street,
New York, NY 10027
• Quintin E. Primo III*, Chairman & Chief Executive Officer,
Capri Capital Partners, LLC
1:45 – 3:15PM
LEADERSHIP ROUNDTABLE
Moderator: James H. Simmons III*, Partner, Ares Management LLC
• Bruce A. Beal, Jr., President, Related Companies
• David J. LaRue, President & Chief Executive Officer,
Forest City Enterprises, Inc.
• Jared Kushner, Chief Executive Officer, Kushner Companies
3:30 – 4:30PM
FIRESIDE CHAT WITH REAL ESTATE LEADERS
Introduction: Roland S. Merchant, Jr.*, Director, Eastdil Secured, LLC
• Jeffrey D. DeBoer, President & Chief Executive Officer,
The Real Estate Roundtable
• Dmitri Stockton, President & Chief Executive Officer,
GE Asset Management and Senior Vice President, GE Company
4:30 – 4:45PM
CLOSING REMARKS
• Kirk A. Sykes, President, Urban Strategy America Fund, LP
4:45 – 5:30PM
NETWORKING / GALLERY VIEWING
The Studio Museum in Harlem (Main Level Gallery)
5:30 – 8:30PM
COCKTAILS & DINNER
Red Rooster Harlem (Ginny’s Supper Club)
310 Lenox Avenue, New York, NY, 10027
SPECIAL DINNER SPEAKER
Introduction: Leslie D. Hale*, Chief Financial Officer &
Executive Vice President, RLJ Lodging Trust
• Benjamin Blakney, Managing Director-Institutional Real Estate,
Direct Investments, Mesirow Financial
Tuesday, October 21, 2014
8:00 – 9:30AM
LEADERSHIP BREAKFAST
The Ritz-Carlton New York, Central Park (Auden Bistro)
50 Central Park South, New York, NY 10019, (212) 308-9100
10:00AM – 2:00PM BOARD MEETING (REEC Board Only)
The Ritz-Carlton New York, Central Park (Olmsted Boardroom)
*Leadership Roundtable Organizing Committee
Executive Speaker Biographies
Bruce A. Beal, Jr.
President
Related Companies
Bruce A. Beal, Jr. is President and a general partner of Related Companies. Mr. Beal joined
Related in 1995 and is responsible for overseeing the day-to-day development process for
projects across all asset classes throughout the country including acquisition, finance and
construction activities. In addition, Mr. Beal oversees Related Companies’ existing operating
portfolio and the company’s affordable housing initiatives. Mr. Beal is a trustee for NewYorkPresbyterian Hospital, the Citizens Budget Commission, St. Bernard’s School and Diller-Quaile School of Music.
He also serves on the Board of Directors of the Community Preservation Corporation and the Friends of the High
Line, the Advisory Board of Harvard University’s Taubman Center for State and Local Government and REBNY’s
Executive Committee, Board of Governors and Housing Committee. Mr. Beal graduated from Harvard University
with a Bachelor of Arts degree.
Benjamin Blakney
Managing Director-Institutional Real Estate, Direct Investments
Mesirow Financial
Benjamin Blakney has over 28 years of financial industry experience within the institutional
investor market as a senior executive in both the public and private sectors. Mr. Blakney’s
experience includes senior positions as Treasurer and Interim Finance Director of the City of
Philadelphia and Chairman of the Municipal Retirement System. During his term, he managed
the issuance of over $4 billion of tax-exempt securities and presided over the inaugural allocation
of Fund assets to foreign markets. Following his public sector appointments, Mr. Blakney served as Chief
Operating Officer and President of INNOVA Global Research and INNOVA Securities where he helped build
proprietary research and private placement capabilities that provided access to emerging market mid-cap investment
opportunities for institutional clients. After INNOVA, he became the Chief Operating Officer and President of
NCM Capital Management Group where he managed the operations, client servicing, and marketing activities of
an investment advisory firm with peak assets under management of $6.8 billion and over 70 institutional clients. Most recently, he was Director of Institutional Funds at Courtland Partners, Ltd. for The Dilweg Companies,
a commercial real estate investment manager with a multi-sector portfolio approximating $250 million. In that
capacity, he was responsible for strategically positioning the firm’s investment program within the institutional
investor community. Currently, Mr. Blakney serves as the Managing Director for Institutional Real Estate, Direct
Investments at Mesirow Financial. Mr. Blakney received his B.A. in Economics from Williams College and a
Masters in City Planning from Massachusetts Institute of Technology.
Jeffrey D. DeBoer
President & Chief Executive Officer
The Real Estate Roundtable
Jeff DeBoer is the founding President and Chief Executive Officer of The Real Estate
Roundtable. The Roundtable represents the leadership of the nation’s top 150 privately owned
and publicly-held real estate ownership development, lending and management firms, as well as
the elected leaders of the 17 major national real estate industry trade associations. Collectively,
Roundtable members’ portfolios contain over 5 billion square feet of office, retail and industrial
properties valued at more than $1 trillion; over 1.5 million apartment units; and nearly 2 million hotel rooms. Mr.
DeBoer has served as President and Chief Executive Officer of The Roundtable since 1997, and through a variety
of positions, he has been at the forefront of legislation affecting the real estate industry during the last thirty
years. In addition to his position at The Roundtable, Mr. DeBoer serves as Chairman of the Real Estate Industry
Information Sharing and Analysis Center (RE-ISAC), an organization dedicated to enhancing communication
between the industry and federal policymakers on matters relating to building security, terrorist threats, and incident
reporting. He also serves as chairman of the National Real Estate Organizations, a coalition of real estate trade
associations working to enhance the industry’s overall Washington advocacy efforts. Previously he served as cochairman of the Advisory Board of the RAND Corporation’s Center for Terrorism Risk Management Policy, and
was a founding member of the steering committee of the Coalition to Insure Against Terrorism (CIAT). Mr.
DeBoer also serves on the Advisory Board of the Smithsonian National Zoological Park in Washington, DC.
Mr. DeBoer has discussed real estate and economic policy issues on FOX News, Bloomberg Television and CNBC;
and his editorials have been published in The Wall Street Journal and USA Today. In 2010, Mr. DeBoer was named
a “top 10 Industry Newsmaker of the Decade” by GlobeSt.com and in 2013 he was selected by Commercial
Property Executive as one of the “30 most influential people in real estate.” He is a member of the Virginia Bar
Association and the American Bar Association. Mr. DeBoer holds degrees from Washington and Lee University
School of Law and from Yankton College.
Jared Kushner
Chief Executive Officer
Kushner Companies
Jared Kushner is Chief Executive Officer of Kushner Companies, a diversified private real
estate organization involved in the ownership, management, development and redevelopment of
numerous properties. Kushner has completed more than $10 billion in real estate transactions
since 2007. As CEO, Kushner oversees a portfolio of more than 20,000 residential apartments
and over 11 million square feet of office, industrial and retail space across the country. Between
2010 and 2013, Mr. Kushner was one of the most active buyers of multi-family apartments in the country buying
over 12,000 apartments. In recent years, Mr. Kushner has been investing in up-and-coming neighborhoods. The
company today owns over 70 walk-up buildings in Manhattan, becoming one of the largest owners of walk-up
apartments in the East Village of Manhattan. It recently redeveloped several residential properties in Brooklyn
Heights, and acquired its first rental building in Williamsburg, where it hopes to expand. The company owns a
wide-range of buildings in the Northern Liberties area of Philadelphia, has several projects on the gold coast
in Jersey City, including a 447-apartment rental tower currently under construction, and recently developed six
custom-designed penthouses atop the fabled Puck Building in the heart of SoHo. Mr. Kushner has been involved
in some of the biggest deals in New York City in recent years. Kushner Companies and RFR Realty in conjunction
with LIVWRK purchased six properties in DUMBO from the Watchtower Bible and Tract Society of New York
for $375 million. The 1.2 million square foot complex is undergoing extensive renovations to create a modern
office campus geared towards technology, advertising and media companies in the heart of the Brooklyn tech
triangle. In May 2014, online retailer Etsy became its first tenant, signing a lease for 200,000 square feet. In 2007,
Mr. Kushner purchased the iconic 1.55 million square feet office tower at 666 Fifth Avenue for $1.8 billion, the
then record for the largest single asset transaction in the country, and established the U.S. flagship for Uniquo in
a record lease. Mr. Kushner purchased the 220,000 square foot building at 80 West End Avenue in partnership
with Extell Development Company for $83 million in the summer of 2013 and later sold in March 2014 for $195
million. This came on the heels of the sale of 200 Lafayette for $150 million, which was bought in conjunction
with CIM group in 2012 from $50 million just 18 months earlier. In 2013, Kushner Companies also partnered with
CIM to purchase the 465,000 square foot downtown office building at 2 Rector for $140 million. Mr. Kushner
is an active investor in and advisor to technology companies and sits on the boards of start-ups including Urban
Compass, Honest Buildings and 42 Floors. Working with several tech companies, Mr. Kushner recognized the lack
of transparency involved in companies getting their businesses the best possible internet connectivity. To solve this
problem, he started working with the Bloomberg administration on WiredNYC (renamed WiredScore) – a “LEED
for broadband” certification that evaluates the broadband connectivity and infrastructure of office buildings. Since
its launch, WiredScore has gathered information on internet connectivity data for over 475 buildings encompassing
more than 200 million square feet of office space in New York City and is expanding to other Metropolitan areas
around the country. Mr. Kushner has served as Chairman of Observer Media since 2006. He grew the company
into a true multi-media business that combines the voice and influence of The New York Observer with unique
properties that serve passionate, targeted audiences like BetaBeat, PolitickerNJ, Gallerist, Commercial Observer,
Commercial Mortgage Observer and Vegas Seven.
David J. LaRue
President & Chief Executive Officer
Forest City Enterprises, Inc.
David J. LaRue became President and Chief Executive Officer of Forest City Enterprises, Inc.
in June 2011. He is also a member of the company’s Board of Directors. Prior to becoming
President and Chief Executive Officer, Mr. LaRue served as Executive Vice President and Chief
Operating Officer. Earlier in his career with the company, Mr. LaRue served as President and
Chief Operating Officer of the company’s Commercial Group, Inc., Forest City’s largest strategic
business unit. He is also an officer and/or director of various subsidiaries of the company. Prior to joining Forest
City in 1986, he was an internal auditor and financial analyst with The Sherwin–Williams Company. Mr. LaRue
was the 2013-2014 Chairman of the International Council of Shopping Centers (ICSC) and currently serves on
the Board of Trustees and Executive Committee. He is a member of the Board of Directors of The Real Estate
Roundtable and was a member of the 2013 Board of Governors of the National Association of Real Estate
Investment Trusts (NAREIT). He also served on the Board of Directors for CubeSmart, a public storage company
from 2004–2013. Mr. LaRue is a Trustee, member of the Executive Committee, Chair of the Capital Committee
and Board of Directors of the Friends of the Cleveland School of the Arts, and is a Trustee and member of the
Finance Committee of the Lawrence School. He is also a member of the Board of Trustees of St. Edward High
School.
Dmitri Stockton
President & Chief Executive Officer, GE Asset Management
Senior Vice President, GE Company
Mr. Dmitri Stockton is a seasoned business leader with an extensive background in financial
services who has held leadership positions in banking, asset management, commercial real
estate, mortgage finance and insurance. He is a Senior Vice President at GE Company and
is one of their Top 40 Executive Leaders serving on the Corporate Executive Council. Mr.
Stockton is currently President and Chief Executive Officer of GE Asset Management, a global
asset manager with approximately $120 billion in assets under management. His business
serves a wide range of clients and investors including corporate pension plan sponsors, sovereign wealth funds,
insurance companies, public funds and endowments. In this role, Mr. Stockton oversees an array of investment
strategies managed by the firm that span US and international equities, fixed income, real estate, private equity
and hedge funds. He is the lead trustee for GE Company’s $49 billion multi-asset class US pension plan. During
his nearly 30-year career, that has included ten years abroad, Mr. Stockton has overseen large-scale operations
and crafted strategies that have resulted in market share gains, acquisitions and integrations, cost reduction, loss
management, network expansion, and business portfolio rationalization. Mr. Stockton previously spent 24 years
at GE Capital where, in his last assignment as President and Chief Executive Officer of the $5 billion revenue
Global Banking business, he led the unit’s restructuring during the financial crisis of 2008. Business operations of
this 40,000-employee division spanned 26 markets in Europe, Asia, and Latin America encompassing banking and
consumer finance platforms, as well as Universal Bank joint ventures with emerging markets partners. During his
time in the role, Mr. Stockton executed on strategies to sell 15 non-core banks, lower operating costs by $1 billion
and reduce credit losses by 53% from the peak of the downturn. This disciplined operational execution resulted
in growing core earnings by 200% from 2009 to 2010. Mr. Stockton further orchestrated GE’s banking expansion
across 10 markets in Eastern Europe as President and Chief Executive Officer where he increased net income
from $225 million to $944 million within a four-year period—creating General Electric’s largest banking business in
Europe. He also served as Chief Executive Officer for GE Capital Bank in Switzerland and as Chief Risk Officer
for GE Mortgage Corporation that owned a $120 billion global mortgage insurance company and a $110 billion
mortgage servicing business. Earlier in his career, Mr. Stockton was a Managing Director for GE Commercial
Real Estate where he completed over $2 billion in transactions that added in excess of a 25% return on equity.
Mr. Stockton is a member of the Board of Directors for Synchrony Financial, the market leading, publicly traded
US private label credit card provider with approximately $55 billion in assets and $2 billion in annual profits. He
serves as a Director on the non-profit boards of A Better Chance, GE Foundation and Thurgood Marshall College
Fund. Mr. Stockton is a member of the Executive Leadership Council, Parent Advisory Council at Georgetown
University’s McDonough School of Business and the Executive Advisory Council at North Carolina Agricultural
& Technical State University School of Business and Economics where he graduated Magna Cum Laude in
Accounting. He is a former Board Director for Garanti Bank in Turkey, Bank BPH in Poland and BAC Credomatic
Bank in Central America.
Board Biographies
Amachie K. Ackah is Founder of Clay Cove Capital where he has oversight responsibilities
for all investment, strategic, and operational activities of the firm. Clay Cove Capital is a
Delaware Limited Liability Company, which serves as the fund manager to a number of specialpurpose real estate investment funds and other special-purpose entities which invest—either
directly or indirectly through collective investment vehicles—in commercial real estate. Clay
Cove Capital seeks investment opportunities that meet most, if not all, of the following
investment criteria: institutional scale, attractive basis, risk mitigation, value creation, multiple
exit strategies, control positions, and institutional promote structures. Clay Cove Capital is completely beneficially
owned and managed by Amachie K. Ackah and Brian D. Eng. Mr. Ackah has over 15 years of real estate industry
experience as a professional in both real estate investment funds and development companies. After graduating
Williams College in 1995, he joined Goldman Sachs as a Financial Analyst and then attended the Wharton School
of the University of Pennsylvania earning his MBA with dual majors in finance and real estate. At Wharton, Mr.
Ackah was a Toigo Fellow and distinguished as a Murphy Fellow by the faculty of the Zell-Lurie Real Estate Center
where he continues to serve as a Research Sponsor. Since graduating Wharton, he has worked in all aspects of
real estate investing and development. He was an Acquisitions and Asset Management Specialist at The Praedium
Group LP (formerly Credit Suisse First Boston’s real estate opportunity fund), the director of acquisitions and
development for the Buccini/Pollin Group, Inc., a real estate operating partner that acquires, develops and manages
commercial, lodging, residential and office properties in the Mid-Atlantic region, and a Principal responsible
for acquisitions and asset management at Lubert-Adler Real Estate LP, a real estate opportunity fund located in
Philadelphia. In 2007, Mr. Ackah launched Argosy Real Estate Partners as its Founder and Managing Partner.
AREP, Argosy Capital’s first institutional real estate opportunity fund, focuses on creating real value at the asset
level through redevelopment, development or repositioning, resulting in high margins, low cost-bases and multiple
exit strategies throughout the lifecycle of each investment.
Kenneth J. Bacon (REEC Board Vice Chairman) is Co-founder and a Managing Partner
of RailField Partners, a financial advisory and asset management firm that specializes in
mortgage finance and real estate. Recently, RailField Partners started Railfield Realty Partners,
which is investing in apartment communities on behalf of a major pension plan. Mr. Bacon
started RailField Partners in 2012 after retiring from Fannie Mae, where he was Executive
Vice President for the multifamily business. In this role, he was responsible for a $195 billion
portfolio, which included senior debt, mezzanine loans, tax credits and equity. Prior to joining
Fannie Mae, Mr. Bacon served as Director of Securitization at the Resolution Trust Corporation, and as an
officer of Morgan Stanley. In addition to his duties at RailField Partners, he serves on the Board of Forest City
Enterprises, Comcast, and Bentall Kennedy. A former trustee of Stanford University, he is also a member of
various advisory boards at the school, including the Center for Longevity and the Parents Advisory Council. He has
a BA from Stanford University, a Master of Science from the London School of Economics where he studied as a
Marshal Scholar, and an MBA from the Harvard Graduate School of Business.
Moctesuma Esparza, Chief Executive Officer of Maya Cinemas North America, Inc., is
an award-winning filmmaker, producer, entrepreneur and activist, revered for his contributions to
the movie industry and commitment to Latinos. Mr. Esparza established Maya Cinemas, a chain
of modern movie theatre complexes with the focus on providing mainstream entertainment
in Latino centric underdeveloped urban communities. Some of his production credits include:
Selena, Introducing Dorothy Dandridge (HBO), The Milagro Beanfield War, Gettysburg, and
Walkout (HBO). Mr. Esparza founded the Los Angeles Academy of Arts and Enterprise Charter
School, is Co-Founder of NALIP, Co-Founder and former Chair of the NAA, and is a Founding Board Member of
the Sundance Institute. He was appointed Commissioner to the Los Angeles City Employees’ Retirement System
by Mayor Antonio Villaraigosa where he chaired the investment committee, and was also appointed by U.S. Senate
Majority Leader Harry Reid to the planning commission of the National Museum of the American Latino. In 2013,
he was named the Ernst & Young Entrepreneur of the Year for the Los Angeles Greater Region. Most recently,
Mr. Esparza was appointed as a Director of the Los Angeles Industrial Bond Authority by Mayor Garcetti.
Leslie D. Hale is Chief Financial Officer and Executive Vice President of RLJ Lodging
Trust. Leslie Hale is a seasoned real estate and finance executive whose career spans over 20
years and involves more than $30 billion in transactions. Ms. Hale has served as Chief Financial
Officer (CFO) for RLJ Lodging Trust (NYSE: RLJ) since 2007 and was promoted to Executive
Vice President in 2013. RLJ is one of the largest publicly-traded lodging REITs in the United
States, with 140 hotels operating across the country. In May 2011, Ms. Hale successfully
managed the execution of the roll-up and merger of RLJ Development, a hospitality investment
firm, with its two affiliated private equity funds, and the subsequent initial public offering of
RLJ Lodging Trust. As CFO, Ms. Hale is responsible for all financial matters across RLJ and is
intricately involved in the company’s investment decision-making, daily operations and long-term strategic planning.
In addition to her CFO responsibilities, Ms. Hale oversees all asset and corporate-level transactions. Before joining
RLJ, Ms. Hale held several positions within General Electric Capital Corp. (GE), including as a Vice President in
the Mergers and Acquisitions Group of GE Commercial Finance. Her career at GE Real Estate spanned two
continents and numerous roles, including work in the Large Transactions Group and the European Mergers &
Acquisitions Group. Ms. Hale was previously an investment banker at Goldman, Sachs & Co., advising clients
across industries on mergers, acquisitions, and corporate finance matters. Ms. Hale earned her MBA from Harvard
Business School and her BBA degree with a concentration in Finance from Howard University. She serves as a
Trustee of Howard University and sits on the board of several non-profit organizations. Ms. Hale and her family
reside in the Maryland area.
Tammy Jones, President & Managing Principal of Basis Investment Group, LLC. Ms.
Jones founded and launched Basis Investment Group (“Basis”) as a minority and women owned
business in 2009 in partnership with lead investor, JEMB Realty Corporation, creating a team
with more than 60 years of combined commercial real estate debt and equity experience. Basis
is a multi-strategy commercial real estate investment platform that acquires and originates
senior mortgages, mezzanine loans and B notes, CMBS, performing and distressed whole loans,
preferred equity and equity positions on behalf of its investors. Ms. Jones is both Managing
Principal and President of Basis and is responsible for overseeing the day to day management
of the firm and its separate account and JV investments. While many other funds struggled to deploy capital
in 2009/10, Basis, since inception under the leadership of Ms. Jones, has succeeded in closing more than 181
transactions totaling nearly $2.0 billion in CRE debt related investments. Ms. Jones has more than 23 years of
experience in the CRE finance industry, a solid record of building and growing debt platforms and a well-developed
strategic view of the future of this business. Prior to joining Basis, Ms. Jones spent five years with CWCapital LLC
(“CW”), where she was the head of CW’s fixed and floating rate Capital Markets Lending Division. In this role,
she created CW’s national capital markets lending platform from inception, developed and branded the business
and managed 80 professionals across eight (8) offices. Under her direction, the team originated more than 500
loans totaling in excess of $6 billion in fixed, floating and mezzanine loans collateralized by CRE assets across the
country. Prior to CW, Ms. Jones was a Senior Vice President of Commercial Capital Initiatives, Inc., a GMACCM
subsidiary (now Berkadia) (“GMAC”), where she was part of the senior management team responsible for creating
GMAC’s Capital Markets lending division. Ms. Jones was responsible for building and overseeing the securitization
platform, where she securitized in excess of $25 billion, and was a senior member of the firm’s Credit Committee. Prior to her seven years with GMAC, she held positions at Equitable Real Estate and AMRESCO Management, Inc.
where she was involved in equity acquisitions and sales, mortgage lending and workouts, servicing and due diligence
of portfolios including RTC pools. Ms. Jones currently sits on the Board of Directors for the Real Estate Executive
Council, is a board member of the New Agenda, and a member of the President’s Council of Cornell Women
(PCCW). Ms. Jones holds a BA in Economics from Cornell University and an MBA with a concentration in Real
Estate Finance from Georgia State University.
Denise J. Lewis is a member of the Board of Directors of the law firm of Honigman
Miller Schwartz and Cohn LLP, a preeminent business law firm of 250 attorneys. Joining
the firm in 1983, Ms. Lewis is a senior partner of this Michigan-based firm that represents
clients nationally in the private equity and real estate arenas. The firm handles legal matters
for large roster of major national private equity funds including raising and investing capital
and the acquisition and refinancing of portfolio companies and individual properties. Further
Ms. Lewis concentrates her practice in representing national real estate developers in complex
and sophisticated transactions that include public-private partnerships, urban redevelopment
and mixed-use development. She handles multi-tiered transactions involving shopping centers, office building,
single-family residential, apartment complexes, hotels and industrial facilities. She represents corporate borrowers,
institutional lenders and major developers in loan transactions involving construction financing and permanent/end
loans. Ms. Lewis is a fellow of the American College of Real Estate Lawyers and has been recognized in Chambers
USA as a leading business lawyer. She has also been recognized by Best Lawyers in America and Super Lawyers.
She has been named by Michigan Lawyers Weekly as one Michigan’s top “Women in Law.” She serves on the
boards, and is an officer, of several civic and philanthropic organizations including the McGregor Fund, the Wayne
State University Foundation, the Detroit Investment Fund and St. John Providence Health System. Ms. Lewis
received her BA degree with honors from Columbia University and her JD degree with honors from the University
of Michigan Law School.
Victor B. MacFarlane is Chairman and Chief Executive Officer of MacFarlane Partners,
which he founded in 1987 to provide real estate investment management services to institutional
investors. Under his leadership, MacFarlane Partners pioneered the urban investment concept
among institutional real estate managers in the 1990s and today is one of the leading real estate
investment management firms in the United States. Mr. MacFarlane has more than 30 years of
real estate experience, and has worked extensively in property development, acquisitions, asset
management and portfolio management on behalf of some of the world’s largest pension plans and institutions.
A past recipient of the National Inner City Leadership Award from the Initiative for a Competitive Inner City and
the Trailblazer Achievement Award from the Global Diversity Summit, Mr. MacFarlane serves on the Board of
Directors of the Robert Toigo Foundation, the Initiative for a Competitive Inner City, and Developers Diversified
Realty Corporation. He also sits on the Board of Advisors for UCLA School of Law and the Board Facilities
Committee of Stanford Hospital & Clinics.
Richmond S. McCoy is Chief Executive Officer and President of UrbanAmerica
Advisors, LLC (UA, LLC). Mr. McCoy is a nationally recognized real estate executive with
over 30 years of diverse real estate transaction-development and asset management experience.
He has consummated more than $6 billion in transactions and operates internationally. Mr.
McCoy is leading UrbanAmerica’s efforts as part of the general partnership in the Master
Planned city of Finningley in Durbin, South Africa. It is a vast project with over 66 thousand
acres and is valued at over $9 billion upon completion. Mr McCoy is the President & Chief Executive Officer
of UrbanAmerica Advisors and UrbanAmerica Principals III. As affiliated entities, UrbanAmerica Advisors
and UrbanAmerica Principals III (collectively “UrbanAmerica”) are the successor entities to UrbanAmerica,
LP, a minority controlled real estate investment advisor, launched in 1998, currently with $1 billion in real estate
assets under management in two private equity real estate funds. This partnership between two established
commercial real estate entities—UrbanAmerica, LP and Behringer Harvard, which invests in assets domestically
and internationally, represents a combined $11 billion of commercial real estate under management. The combined
partnership currently manages more than 47 million sq. ft. across 70+ markets nationwide and has more than 350
employees located in 22 offices within key U.S. metropolitan markets. Bolstering UrbanAmerica, LP’s historical core
competencies, UrbanAmerica specializes in assets located in urban centers, as well as properties located in top metro
areas nationwide. Most recently UrbanAmerica Advisors formed a partnership with Renaissance Downtowns in
the $2 billion Master Plan Development of downtown Hempstead, NY, where they have attained Master Developer
designation from the city. UrbanAmerica was founded in 1998 as one of the first real estate companies to focus
on acquiring and developing commercial real estate in communities of diversity in major metropolitan markets
nationally on behalf of the country’s leading institutional investors. As a result of concentrating its efforts on
urban markets, the company has acquired over $2 billion of real estate while providing market rate returns for its
investors and creating more than 27,000 jobs for residents of low income communities in which the company has
invested. UrbanAmerica’s notable list of investors includes the nation’s largest public and private pension funds and
the top banks and insurance companies. Prior to assuming leadership at UrbanAmerica LP, McCoy was Founding
Partner and Principal of three other firms specializing in real estate brokerage, asset management and development. Mr. McCoy has forged many ongoing partnerships with numerous faith based and community development
organizations nationwide. Mr. McCoy has led efforts in working with the US Treasury in the CDFI Fund to deploy
$267 milllion worth of tax credits within the last 8 years. Mr. McCoy is a frequent expert panelist for the public and
private pension fund industry as well as speaking as an economic development/CRA Compliance issues the federal
regulators compliance matters for US based banks including serving as a panelist for the Federal Reserve Bank. He
also is a speaker in urban market conferences such as: Information Management Network (IMN), Pension Real
Estate Association (PREA), Opal Financial, National Association of Realtors and Novagradac New Markets Tax
Credits. Mr. McCoy attended Fordham University in New York City. He is the recipient of an Honorary Doctorate
of Humane Letters from Destiny Bible College in Tampa, Florida in recognition of his extensive contribution to
religious organizations in the area of real estate and finance.
Ronald K. McDonald is Managing Principal of RMC Development, LLC in the greater
Washington, DC/Baltimore region; where he is responsible for assisting clients (public and
private) with their commercial real estate and finance objectives. He is an accomplished
commercial real estate and financial services executive with 22 years in the industry who has
been involved in the acquisition, brokerage, development and management of over $6 billion in
real estate equities. Mr. McDonald is also responsible for the delivery of the firm’s specialized
financial advisory services, with a focus on sourcing capital and structuring transactions. Considered an industry
expert on BRAC (Base Realignment and Closure), RMC Development currently leads the redevelopment of a
former military base in Annapolis, Maryland. Plans are underway for a massive 46-acre waterfront office campus
across from the United States Naval Academy complete with boat slips, restaurants, retail and a luxury hotel with
panoramic views over the Chesapeake Bay. Mr. McDonald has served as a real estate advisor to the National
Capital Revitalization Corp (NCRC) in Washington, DC and Chairman of the Prince George’s County TOD
Subcommittee. He is an adjunct professor for the University of Maryland School of Architecture, Planning and
Real Estate Development and serves on its Council of Advisors. He has held membership in the Real Estate
Roundtable (President’s Council) and several other professional organizations. Mr. McDonald holds a BS from the
US Naval Academy as well as a Masters in Finance from the University of Maryland. A decorated US Navy veteran,
his leadership and service was personally recognized through The Thousand Points of Light Award by former
President George H. W. Bush.
Ken McIntyre is Senior Vice President, Head of Commercial Real Estate at Hudson City
Savings Bank. Mr. McIntyre leads the Commercial Real Estate Department at Hudson City, a
$37 billion bank headquartered in New Jersey. Prior to joining Hudson City in early 2012, Mr.
McIntyre was the Managing Principal and founder of PassPort Real Estate, LLC, a consulting
firm focused on advising clients on various areas of commercial real estate finance, including
debt and equity sourcing and structuring, and strategic advice on creating investing platforms and
vehicles. Formerly, Mr. McIntyre was a Managing Director in MetLife’s Real Estate Investments Group with various
responsibilities across both the debt and equity portfolios, including coordinating equity acquisitions; creating a
Real Estate Capital Markets group; serving as the pricing desk for all commercial mortgage originations and serving
on the real estate investment committee. Concurrently, Mr. McIntyre was the Senior Real Estate Officer of the
MetLife Bank. Prior to joining MetLife, Mr. McIntyre held senior origination and relationship management roles at
KeyBank, GE Capital Real Estate and UBS. Mr. McIntyre graduated from Florida A&M University with a degree in
Economics and a concentration in Banking and Finance. He is a trustee and member of the Executive Committee
of the International Council of Shopping Centers (ICSC); an active member of the Urban Land Institute (ULI), the
Real Estate Roundtable (RER), Real Estate Lenders Association (RELA) and a founding member of Real Estate
Networking Trust (R*E*N*T) and the Real Estate Executive Council (REEC). Mr. McIntyre formerly served on
the advisory boards of African American Real Estate Professionals of New York (AAREPNY, now known as the
Council for Urban Real Estate or CURE) and The Real Estate Center of The Federal Reserve Bank of Atlanta.
Additionally, he is on the Board of Trustees for the National Jazz Museum in Harlem and Yorkville Youth Athletic
Association.
Roland S. Merchant, Jr. is a Director at Eastdil Secured, LLC, a wholly owned Real Estate
Investment Bank of Wells Fargo. Mr. Merchant has over 15 years of experience in finance, sales
and real estate investment banking. He has been involved in over $12 billion of investment sales,
debt placement and loan sales transactions for clients including AIG, EQR, FDIC, MetLife,
Prudential Mortgage Capital, Related and TIAA-CREF. Prior to joining Eastdil Secured, Mr.
Merchant was an investment banking associate in the Capital Markets Group at Cushman and
Wakefield and the Leveraged Finance Group at Merrill Lynch. Mr. Merchant holds an MBA
from Columbia Business School, where he was awarded the Robert A. Toigo Fellowship and a BA from Dillard
University. Mr. Merchant is a Licensed Securities Representative (Series 7 & 63), a Licensed Real Estate Broker
in the State of New York and a member of Urban Land Institute (ULI) and the Real Estate Roundtable (RER)
President’s Council.
Aasia Mustakeem, a Partner at Smith, Gambrell and Russell (Atlanta), focuses on
commercial real estate and real estate finance. Ms. Mustakeem represents developers, purchasers
and sellers in the acquisition, disposition and development of office, hotel, retail, industrial,
mixed-use, multifamily and medical office projects. Her experience includes advising lenders
and borrowers in secured loan and workout transactions; representing landlords and tenants
in negotiating commercial leases; representing companies that acquire and operate health care
facilities; representing institutions in the ownership, operation and finance of corporate-owned real estate; and
representing energy companies, with a focus on renewable development projects. She also counsels companies
involved in the purchase and sale of timberlands, and advises companies on project and infrastructure finance. Ms.
Mustakeem has been selected as a Georgia Super Lawyer by Atlanta Magazine since 2004, has been recognized
as one of Georgia Trend’s Legal Elite since 2006 and is a past Chairperson of the 2,000 member Real Estate
Section of the Georgia Bar. In addition to the Board of REEC, Ms. Mustakeem is a board member of the Grady
Memorial Hospital Corporation and the Georgia Bar Foundation, where she serves as Immediate Past President.
She is a member of Leadership Atlanta and Leadership CREW, and is a Fellow of the American College of Real
Estate Lawyers. In 2010, Ms. Mustakeem received the Commitment to Equality Award that was presented by the
Women in the Professions Committee of the State Bar of Georgia. She also received the Outstanding Woman in
the Profession Achievement Award from the Atlanta Bar Association (2003) and the Trailblazer Award presented
by BLSA at Georgia State University College of Law (2009). In 2011, Ms. Mustakeem was a recipient of the Law
and Justice Award presented by Women Looking Ahead Magazine to attorneys who have devoted their careers to
serving the public interest and acting as catalysts for positive change in their communities. She was also honored
as the recipient of the 2012 Global Diversity Summit in Commercial Real Estate Conscientious Service Award. In
2014, Ms. Mustakeem began a six-year term as a member of the Georgia Board of Bar Examiners.
Quintin E. Primo III (Founding REEC Board Chairman) serves as Chairman and
Chief Executive Officer of Capri Capital Partners, LLC (“Capri”), a real estate investment
management firm advising pension fund and other institutional investors. Active in the real
estate industry for more than 30 years, Mr. Primo has challenged conventional wisdom in
developing new markets for investment. Under his leadership, Capri became an early investor
in US multifamily residential and urban property markets, and is now expanding internationally,
with a focus on the high growth markets of Africa, India and the Middle East. In these and other investment
programs, his goal has been to achieve the highest risk-adjusted returns for the firm’s institutional clients. Mr.
Primo has also been active in civic and non-profit initiatives. He is a founder and currently board chairman of the
Primo Center for Women and Children, a transitional center and family institute for the homeless; was founding
chairman of the Chicago Alliance to End Homelessness; and is a board member of the Chicago Council on Global
Affairs as well as the School of the Art Institute of Chicago, among other activities. Mr. Primo received his MBA
from Harvard University Graduate School of Business and a BS in Finance with honors from Indiana University.
He has been featured in national publications such as The Wall Street Journal, Fortune Magazine, Forbes, The New
York Times, Bloomberg Business Week and Black Enterprise, and is a business contributor to CNBC cable news
network. In addition to public company board experience, he has written or co-authored numerous articles and
industry white papers and is often recognized for his professional, civic and philanthropic contributions. Mr. Primo
is an avid cyclist and resides in the Chicago area with his family.
James H. Simmons, III is Partner at Ares Management LLC and Managing Partner of
the $485 million Ares Domestic Emerging Markets (“ADEM”) Fund I. Mr. Simmons is the
primary architect of Ares’ strategy of investing in residential and commercial assets located in
Domestic Emerging Markets (“DEMs”), which are the revitalizing urban cores of major growth
cities in the US including New York, Los Angeles, Newark and Washington, DC. To date,
Ares has acquired over $2.3 billion of assets in DEMs and through the ADEM Fund vehicle
will continue to further pursue transactions in these markets. Mr. Simmons was previously
the interim President and Chief Executive Officer of the Upper Manhattan Empowerment Zone Development
Corporation. Mr. Simmons graduated with a Master of Management degree from the J.L. Kellogg Graduate School
of Management, a MS degree in Engineering from the Virginia Polytechnic Institute and State University, and a BS
degree in Electrical Engineering and Computer Science from Princeton University.
Kirk A. Sykes (REEC Board Chairman), President of Urban Strategy America Fund, LP,
is the head of an urban investment, development and redevelopment fund for select institutional
investors. The Fund is a true “triple bottom-line fund” that offers investors an opportunity
to transform urban and economic development areas in their states, regions and cities while
achieving an attractive return on their investment by prioritizing diversity in the asset types and
locations in order to maximize returns. Mr. Sykes is responsible for the supervision of the
partnership equity placement, the identification of investments and the day-to-day business operations of the USA
Fund. He combines his professional training and hands-on experience in the areas of development, design and
construction to create customized responses to the complex issues of urban real estate development. His approach
is grounded in the bottom-line driven perspective gained during his tenure as Chairman of The Federal Reserve
Bank of Boston and a member of Fleet Bank and BankBoston’s First Community Bank Advisory Boards, along
with being on the boards of NAIOP New England and ULI New England, and various other for-profit and nonprofit board affiliations. His combination of business and community-based experience allow him to bridge the
competing concerns that sometimes block urban projects from moving forward. His specialty is the creation of
urban mixed-use developments.
Michael E. Tabb, Managing Principal of Red Rock Global, LLC, is responsible for
setting the overall strategic direction for Red Rock Global. With formal training and a 25+
year professional career in commercial real estate, business administration and public/media
relations, he serves as the principal relationship manager with the Company’s investors, strategic
partners and clients. He is responsible for developing business processes and for new business
development. Additionally, he provides direct leadership for the major functional areas of tenant
representation, corporate services, complex assemblage and dispositions, asset repositioning, and
real estate consulting. Formerly, Michael was the Global Director of Real Estate responsible for The Coca-Cola
Company’s real estate activities worldwide. He also served as a Group Manager for LaSalle Partners in Midtown
New York City. Additionally, Michael has served in several positions in the U.S. Navy, including Assistant 1st
Lieutenant, Main Propulsion Assistant, Assault Boat Group Commander, Public Affairs Officer and Director of
Planning and Policies for the Chief of Naval Information, receiving six Navy Achievement Medals and the Navy
Commendation Medal. Michael holds the following degress and distinctions: MBA, University of Pennsylvania,
The Wharton School, (2000 Toigo Alumni of the Year); University of Oklahoma, DoD Advanced Program in
Organizational Strategy and Communication; BS, U.S. Naval Academy (Freshman and Senior Year Leadership
Award and Honor Board representative); U.S. Navy Thermal Engineering School (honor graduate). Michael also
serves on: Board of Advisors, University of Pennsylvania, Institute for Urban Research; Past Member, Real Estate
Roundtable - President’s Council; Director, Real Estate Executive Council; Alumni, Robert Toigo Foundation;
National Black MBA Association; Atlanta Commercial Board of Realtors; Member, 100 Black Men of Atlanta,
Chairman; Global Diversity Summit in Commercial Real Estate, Leadership Atlanta 2011. Michael is a licensed real
estate broker (multiple locations) and Lieutenant Commander, U.S. Naval Reserves.
The Real Estate Executive Council (REEC) is the leading professional trade
association formed to promote the interests of minority executives doing business in the commercial real estate industry.
REEC strives to create opportunities for relationship development and access
to information that will lead to increased business opportunities between and
among member organizations, as well as with majority owned firms.
Confirmed Attendees
GUESTS
Daren Bascome
Managing Director
Proverb
Bruce A. Beal, Jr.
President
Related Companies
Benjamin Blakney
Managing Director-Institutional Real Estate,
Direct Investments
Mesirow Financial
Peter Braffman
Managing Director
GCM Grosvenor
Dexter Campbell
Managing Director
American Realty Capital
Adam M. Cloud
City Treasurer
City of Hartford
Omowale Crenshaw
Managing Principal
Geocentric Development Group International
L. Heather Mitchell
Chief Administrative Officer
Capri Capital Partners, LLC
Ronald R. Pressman
Chief Operating Officer & Executive Vice President
TIAA-CREF
Cherie Santos-Wuest
Principal Investment Officer - Real Estate
Connecticut Retirement Plans and Trust Funds
Juan Serrano
Product Specialist
GE Asset Management
Dmitri Stockton
President & Chief Executive Officer
GE Asset Management
Scott M. Stringer
Comptroller
City of New York
Carra Wallace
Chief Diversity Officer
New York City Comptroller
Jeffrey D. DeBoer
President & Chief Executive Officer
The Real Estate Roundtable
Paul T. Williams, Jr.
President & Chief Executive Officer
Dormitory Authority of the State of New York
(DASNY)
Eugene J. Duffy
Senior Managing Director, Institutional Services
Intercontinental Real Estate Corporation
Ryan Williams
Chief Executive Officer
Cadre
Gennell Jefferson
Senior Vice President – Business Development
GE Asset Management
Anisa Keith
Managing Director
BRP Companies
Jared Kushner
Chief Executive Officer
Kushner Companies
David J. LaRue
President & Chief Executive Officer
Forest City Enterprises, Inc.
Meredith Marshall
Managing Partner
BRP Companies
Confirmed Attendees
REEC BOARD
REEC MEMBERS
Kirk A. Sykes
President
Urban Strategy America Fund, LP
REEC Board Chairman
Jeffrey Beckham
Fund Manager / Managing Director
Jamestown, LP
Amachie K. Ackah
Founder
Clay Cove Capital
Leslie D. Hale
Executive Vice President, Chief Financial Officer &
Treasurer
RLJ Lodging Trust
Tammy Jones
President & Managing Principal
Basis Investment Group, LLC
Denise J. Lewis
Senior Partner
Honigman Miller Schwartz and Cohn LLP
Victor B. MacFarlane
Chairman & Chief Executive Officer
MacFarlane Partners
Richmond S. McCoy
Chief Executive Officer & President
UrbanAmerica Advisors, LLC
Ronald K. McDonald
Managing Principal
RMC Development, LLC
Roland S. Merchant, Jr.
Director
Eastdil Secured, LLC
Quintin E. Primo III
Chairman & Chief Executive Officer
Capri Capital Partners, LLC
Founding REEC Board Chairman
James H. Simmons III
Partner
Ares Management LLC
Buwa Binitie
Managing Principal
Dantes Partners, LLC
Jackie Brady
Managing Principal
Canopy Investment Advisors LLC
Lee A. Brathwaite
Vice President, Corporate Real Estate
Prudential Insurance Company
Herman E. Bulls
Chairman, Public Institutions
Jones Lang LaSalle
Gwendolyn L. Butler
President
Capri Capital Partners, LLC
Richie L. Butler
Managing Director
Prescott Group
Evens Charles
President & Chief Executive Officer
Frontier Development and Hospitality Group, LLC
Donald P. Cogsville
Chief Executive Officer
The Cogsville Group LLC
Edmund Donaldson
Managing Director
USAA Real Estate Company
Khalif Edwards
Director
Clarion Partners
George C. Fatheree, III
Associate
Skadden, Arps, Slate, Meagher & Flom LLP
Albert Gentry
Managing Principal
Cornerstone Development, LLC
Todd A. Gomez
Senior Vice President
Bank of America Merrill Lynch
John Green
Managing Director
MacFarlane Partners
Gregory M. Weston
Senior Counsel
Pillsbury Winthrop Shaw Pittman LLP
Troy S. Jenkins
Managing Director
Profit Investments
Careina Williams
Principal
Artemis Real Estate Partners
Ken Jett
Managing Director
Hines
REEC STAFF
Danita Johnson
Vice President
Franklin Real Asset Advisors
Jair K. Lynch
President & Chief Executive Officer
Jair Lynch Development Partners
Oscar Groves
Executive Director, REEC
Senior Associate, Investor Relations
Capri Capital Partners, LLC
Taidgh H. McClory
Senior Vice President / Partner
CBRE / New England
Trevor L. Michael
Managing Director
TIAA-CREF
Sharif T. Mitchell
Area Leader
Paradigm Tax Group
Lyneir Richardson
Executive Director,
The Center for Urban Entrepreneurship
and Economic Development
Rutgers Business School
Jonathan H. Richter
Head of Real Estate
Rosewood Investment Corporation
Deepa S. Taylor
Rev. Dr. Richard L. Tolliver
President & Chief Executive Officer
St. Edmund’s Redevelopment Corporation
Kevin Waters
Director
TIAA-CREF
Gavin Wellington
Former Senior Vice President
HSBC Bank USA, NA
REAL ESTATE EXECUTIVE COUNCIL
875 North Michigan Avenue, Suite 3430
Chicago, IL 60611
(312) 573-5260
www.reec.org