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Essentials to thriving and surviving in a Darwinian market
PERE Forum: New York slide presentations:
Opening Keynote Panel: What a difference a year makes / A strategic perspective
Workshop A: Stump the Panel - Valuations
Finding the light – what the numbers are telling us
Audience Response Results:
Opening Keynote Panel
Panel: Surviving the rough road ahead
Panel: Achieving returns without leverage
The Big Debate
Panel: Ask the Audience - Key Trends in Private Capital Flows into Emerging Markets
Panel: New Fund Investments in the Horizon – the LP Perspective
Panel: The Dos & Don’ts of Distressed Investing
Panel: A closer look at non-fund options: joint ventures and club deals
Day One - Wednesday, November 18
7:45 – 8:45
Check In and continental breakfast
8:45 – 9:00
PEI Media welcome
 | 9:00 – 10:00
Opening Keynote Panel:
What a difference a year makes / A strategic perspective |
Leading deal makers will participate in a candid discussion on the current investment environment and what is now needed to succeed in this asset class.
• Where are the opportunities?
• What deals are you walking away from?
• What will the deals of the next 1 to 3 years look like?
• Expected yields and distribution
• Going back to basics or are new fundamentals forming?
Moderator: Douglas M. Weill, Managing Partner, Hodes Weill & Associates
Panel Members:
Joseph F. Azrack, Managing Partner - Real Estate Practice, Apollo Global Management
Russel S. Bernard, Managing Principal, Westport Capital Partners LLC
Barden Gale, Chief Executive Officer, J.E. Robert Companies
Jeffrey M. Kaplan, Managing Partner, Meadow Partners LLC
Andrew Wood, Chief Investment Officer, MGPA
10:00 – 11:00
Panel: Surviving the rough road ahead
• Strategies to firm survival: restructuring, repositioning, alternative use
• Waiting for the upturn – what to do in the meanwhile? How to assure that your firm will survive the long haul?
• Effective active portfolio management
Moderator: Ted Leary, President, Crosswater Realty Advisors
Panel Members:
Russ Appel, President, The Praedium Group
Stephen Coyle, CIO Global Realty Partners, Cohen & Steers
Richard S. Foote, Managing Director, Berkshire Capital
Robert S. Insolia, Partner, Goodwin Procter
11:00 – 11:30
Coffee Break
11:30 – 12:15
Panel: Achieving returns without leverage
• Deal structures for new investments given current leverage levels
• Beyond traditional debt leverage: creative financing strategies
• What will it take for leverage to return to US real estate capital markets?
Moderator: Albert C. Tan, Partner, Haynes and Boone, LLP
Panel Members:
Stephen Holmes, Executive Director, Fixed Income, Morgan Stanley
Sush Torgalkar, Managing Principal, Westbrook Partners
David E. Wasserman, Vice President - Senior Client Executive, Real Estate, Hospitality, and Gaming Group, Sumitomo Mitsui Banking Corporation
Mark Zytko, Principal, Mesa West Capital
 | 12:15 – 1:00
The Big Debate |
Resolved: The house believes that US government rescue financing is the key to a rebound in the commercial real estate markets.
The arguments delivered during this debate by the speakers will support their assigned side and therefore do not necessarily reflect the speaker's or their firm's views. The debate proceedings are entirely off the record.
Panel Members:
Against the Motion: Jack Foster, Head of Real Estate, Franklin Templeton Real Estate Advisors
For the Motion: Nancy Lashine, Managing Director, Park Madison Partners
 | 1:00 – 1:30
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Interview with Donald Monti, Chairman & CEO, Renaissance Downtowns
Interviewer: David Snow, Executive Editor, PEI Media
1:30 – 2:45
Lunch
2:45 – 3:45
Panel: Ask the Audience - Key Trends in Private Capital Flows into Emerging Markets
Moderator: Thomas B. Brown, Principal & Co-founder, Clerestory Capital Partners, LLC
Participants:
David J. Goldfield, Managing Partner, Southern Bridge Capital
Manjul Ramchandani, Director, Credit Suisse
John F. Tsui, Managing Principal, Peninsula House, LLC
3:45 – 4:00
Refreshment break
4:00 – 4:45 Workshop Sessions
Workshop A: Stump the Panel - Valuations
• Current drivers
• Assigning fair value in a distressed market
• Valuation methodologies, performance measurements, write downs and recognized losses
Moderator:John Baczewski, President, Real Estate Fiduciary Services LLC
Participants:
Raymond T. Cirz, Chief Executive Officer, Integra Realty Resources- New York
Brent S. Solomon, Principal, Valuation and Transaction Advisory Group, Reznick Group, P.C.
Workshop B: Workouts and restructuring
• Defensive strategies
• Remedies for troubled projects, including debt and equity transfers
Participants:
Arne Arnesen, Senior Managing Director, Portfolio & Asset Management, Rockwood Capital, LLC
William Jandrisits, Director, Finance, Starwood Capital Group
Jonathan B. Kohan, Vice President, Capmark Finance, Inc
Christopher B. Price, Partner, Goodwin Procter LLP
PERE Investor Workshop (by invitation only)
2:45 – 4:45
Led by Michael Buckley, Director, Columbia University
The PERE Investor Workshop is an off-the-record event exclusively for investors currently investing in or looking to invest in private equity real estate. During the workshop, participants will have the opportunity to exchange strategies and discuss challenges with fellow LPs. This is a closed-door event, limited to family offices, foundation/endowments, fund of funds, institutional investors, private /public pension funds, universities, and will be strictly off the record.
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4:45 – 5:45
Panel: New Fund Investments in the Horizon – the LP Perspective
• The tipping point: when to liquidate / when to invest
• Direct investments vs going with a fund – factors to consider
• To the point: are you increasing your allocation to real estate?
• Appetites – types of funds, sizes of funds, preferred strategies, and structures (separate accounts, joint ventures, club deals)
Moderator: Scott Landress, Chief Executive Officer, Liquid Realty Partners
Panel Members:
Edgar Alvarado, Head of Real Estate Funds, Allstate Investments
Ed Casal, Chief Investment Officer, Global Real Estate Multi-Manager Group, Aviva Investors
Jack Foster, Head of Real Estate, Franklin Templeton Real Estate Advisors
Gary V. Simonetti, Director - Real Estate Funds Global Real Estate, TIAA-CREF
5:45 – 7:00
Cocktail reception
Day Two, Thursday, November 19, 2009
8:00 – 8:45
Continental breakfast
8:45 – 9:00
Chairman’s welcome
 | 9:00 – 9:45
Finding the light – what the numbers are telling us
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• How long till in an upturn in the market? What will it take?
• A closer look at the changing dynamics in the US market and implications on the US positions in the global economy
Panel Members:
Sam Chandan PhD FRICS, President and Chief Economist, Real Estate Econometrics & Faculty of Real Estate, The Wharton School, University of Pennsylvania
9:45 – 10:30
Panel: The Dos & Don’ts of Distressed Investing
• Pinpointing the opportunities: asset types and investment strategies
• Surviving competition from REITs for distressed assets
• Realistic return expectations
• Managing underperforming properties and legacy assets
• Knowing when to walk away
Moderator: Richard K. Martin, Partner, Haynes and Boone, LLP
Panel Members:
Mukang Cho, Managing Principal, Crown Street Capital
James Corl, Managing Director, Siguler Guff
Craig H. Solomon, Managing Principal, Square Mile Capital Management LLC
10:30 – 11:00
Coffee break
11:00 – 12:00
Panel: A closer look at non-fund options: joint ventures and club deals
• Is the comingled fund structure a thing of the past?
• What to do when joint ventures go awry?
• Terms and waterfalls: structuring joint ventures to assure viability
Panel Members:
Nancy Lashine, Managing Partner, Park Madison Partners
Howard Margolis, Principal, Quadrangle Asset Management
Marc Weidner, Managing Director, Franklin Templeton Real Estate Advisors
Robert Wieser, Executive Director, WestLB AG, New York Branch
12:00 – 1:30
Closing lunch and end of conference
* This is a provisional agenda and remains subject to change at the discretion of the organizers.
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