-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
1/72
BIAAI^, RE]I^
Ijjfrbi`ae Mfusdgk igb Cdxeb-Dgnfce ^tritekdes
I UAD Ibvdsfry ^ervdnes \igeaJE@PUIPT 0= - CIPNM 2, 0
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
2/72
0
B i a a i
s R e x i s
C i r n
m 0 < 9 :
• Rme cdssdfg fj tme Ur`ig Aigb Dgstdtute ds tf prfvdbeaeibersmdp dg tme respfgsd`ae use fj aigb igb dgnreitdgk igb sustidgdgk tmrdvdgk nfccugdtdes
wfrabwdbe.
• UAD ds i cec`ersmdp frkigdzitdfg wdtm geiray 2
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
3/72
>
B i a a i
s R e x i s
C i r n
m 0 < 9 :
• ^dgne 942;
• 95 - 0< pigeas i yeir fg i virdety fj aigbuse su`hents
• \rfvdbes dgbepegbegt, f`hentdve nigbdbibvdne fg dcpfrtigt aigb use igb reiaestite dssues
• \rfness
• Pevdew `inokrfugb citerdias
• Penedve i spfgsfr presegtitdfg &tfur
• Nfgbunt stioemfaber dgtervdews
• Nfgsdber biti, jrice dssues igbwrdte renfccegbitdfgs
• Cioe presegtitdfg
• \rfbune i jdgia repfrt
Rme Ibvdsfry ^ervdnes \rfkric
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
4/72
2
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Rme \igea
Nmidr
Rfgy C. ^iaizir
\resdbegt - [est Nfist BdvdsdfgCnNfrcino @irfg ̂ iaizir
Afs Igkeaes, Niadjfrgdi
\igeadsts
Oegt Nfaadgs
\rdgndpia, Negtrf Beveafpcegt, AAN
Iustdg, Rexis
Gigny Cfgtfyi
\rdgndpia, RRI
Gew Fraeigs, Afudsdigi
Bdfgge Geasfg
\rdgndpia igb Nmdej Exenutdve Fjjdner
Aiurea ^treet Pesdbegtdia
Nmiraftte, Gfrtm Nirfadgi
\mdadp \iyge
\rdgndpia igb NEF, Kdgokf Pesdbegtdia
Nmiraftte, Gfrtm Nirfadgi
Ceikmig ^miggfg-Zaofvdn
Zdne \resdbegt igb Ciroet Aeiber, EgterprdseNfccugdty \irtgers
Itaigti, Kefrkdi
Ciro ^mea`urge
^egdfr Cigiker, Gfvfkribin & Nfcpigy AAN
Piaedkm, Gfrtm Nirfadgi
Hioe [ekcigg
Issdstigt \rfjessfr, Nfccugdty igb Pekdfgia\aiggdgk \rfkric, Ugdversdty fj Rexis it Iustdg
Iustdg, Rexis
Pfker A. [daadics\rdgndpia, P[ & Issfndites, AAN
\ftfcin, Ciryaigb
^tfnotfg [daadics
Exenutdve Bdrentfr, Rerwdaadker Negter jfr Mfusdgk
UAD-tme Ur`ig Aigb Dgstdtute
[ismdgktfg, BN
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
5/72
5
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^pfgsfr
Ndty fj Biaais
Ciyfr igb Ndty Nfugnda
Oira Xivdtofvsoy
@ergibette Cdtnmeaa
Meitmer Aepesoi
Rdcftmy Kaiss
Rmigos tf tme cfre ;< dgbdvdbuias jfr pirtdndpitdgk dg tmeUAD \igea dgtervdew prfness.
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
6/72
:
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Rme Issdkgcegt
Rme Ndty isoeb tme Ur`ig Aigb Dgstdtute tf issec`ae i pigea fj mfusdgk,aigb use igb enfgfcdn beveafpcegt experts tf8
• Dgtervdew stioemfaber krfups dbegtdjdeb `y tme Ndty igb UAD?
• Pevdew tme Ndty—s exdstdgk mfusdgk pfadndes igb printdnes?
• Pevdew `est printdnes fj ftmer cugdndpiadtdes reaiteb tf tmebeveafpcegt fj ijjfrbi`ae igb cdxeb-dgnfce mfusdgk? igb
• \resegt tf tme Mfusdgk Nfccdttee sukkesteb pfadndes igb printdnesjfr dgnausdfg dg tme Ndty—s gew mfusdgk pfadny.
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
7/72;
B i a a i
s R e x i s
C i r n
m 0 < 9 :
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
8/72=
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^ucciry fj Cihfr Penfccegbitdfgs
• Custer tme pfadtdnia wdaa tf ibbress tme ijjfrbi`ae mfusdgk nrdsds• Nreite i Nmdej Exenutdve Fjjdner fj Mfusdgk igb Nfccugdty
Dgvestcegt
• Nreite i Mfusdgk Rrust Jugb wdtm bebdniteb revegue sfurnes
• Dbegtdjy i adcdteb guc`er fj mfusdgk igb nfccugdty revdtiadzitdfgjfnus ireis
• Expigb mfusdgk nmfdnes dg mdkm fppfrtugdty ireis
• Nreite i prebdnti`ae, trigspiregt igb ejjdndegt mfusdgk pfadny „
Ndtywdbe• Egfukm \aiggdgk „ Rdce tf Int
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
9/724
B i a a i
s R e x i s
C i r n
m 0 < 9 :
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
10/729<
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Krfwdgk Bdversdty …
^furne8
Gedkm`fr-
mffb\aus
\aig, p. =
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
11/7299
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Krfwdgk Bdversdty … @ut Krfwdgk
Dgequiadty fj Fppfrtugdty
^furne8
Gedkm`fr-
mffb\aus
\aig, p. =
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
12/7290
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8
Gedkm`frmffb\aus
\aig, p. 9>
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
13/729>
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8 Gedkm`frmffb\aus \aig, p. 92
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
14/7292
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Biaais
Ndty Miaa
^furne8 Gedkm`frmffb\aus \aig, p. 92
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
15/7295
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Bdjjeregt Gedkm`frmffbs, Bdjjeregt Mfusdgk
Nfgbdtdfgs
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
16/72
9:
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Bdjjeregt Gedkm`frmffbs, Bdjjeregt Mfusdgk
Nfgbdtdfgs
• @ffcdgk cuatdjicday nfgstruntdfg
• Mdkm-fppfrtugdty sti`dadty
•
Ikdgk cuatdjicday nfgnegtritdfgs
• Kegtrdjdnitdfg
• Ecerkegne
• [frodgk-naiss vd`rigny
• Mdkm vinigny
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
17/72
9;
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Bdjjeregt Gedkm`frmffbs, Bdjjeregt Mfusdgk
Nfgbdtdfgs
• @ffcdgk cuatdjicday nfgstruntdfg
• Mdkm-fppfrtugdty sti`dadty
•
Ikdgk cuatdjicday nfgnegtritdfgs
• Kegtrdjdnitdfg
• Ecerkegne
• [frodgk-naiss vd`rigny
• Mdkm vinigny
^furne8 Hioe [ekcigg
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
18/72
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
19/72
94
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Bdjjeregt Gedkm`frmffbs, Bdjjeregt Mfusdgk
Nfgbdtdfgs
• @ffcdgk cuatdjicday nfgstruntdfg
• Mdkm-fppfrtugdty sti`dadty
•
Ikdgk cuatdjicday nfgnegtritdfgs
• Kegtrdjdnitdfg
• Ecerkegne
• [frodgk-naiss vd`rigny
• Mdkm vinigny
^furne8 Kffkae Cips ^treetvdew
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
20/72
0<
B i a a i
s R e x i s
C i r n
m 0 < 9 :
\rfhent-@y-\rfhent Beveafpcegt Ipprfvias
^furne8 www.biaaisndtymiaa.nfc
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
21/72
09
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8 www.biaaisndtymiaa.nfc
\rfhent-@y-\rfhent Beveafpcegt Ipprfvias
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
22/72
00
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8 www.biaaisndtymiaa.nfc
\rfhent-@y-\rfhent Beveafpcegt Ipprfvias
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
23/72
0>
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8 www.biaaisndtymiaa.nfc
\rfhent-@y-\rfhent Beveafpcegt Ipprfvias
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
24/72
02
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8 www.biaaisndtymiaa.nfc
\rfhent-@y-\rfhent Beveafpcegt Ipprfvias
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
25/72
05
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8 www.biaaisndtymiaa.nfc
\rfhent-@y-\rfhent Beveafpcegt Ipprfvias
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
26/72
0:
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8 www.biaaisndtymiaa.nfc
\rfhent-@y-\rfhent Beveafpcegt Ipprfvias
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
27/72
0;
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8 www.biaaisndtymiaa.nfc
\rfhent-@y-\rfhent Beveafpcegt Ipprfvias
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
28/72
0=
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8 www.biaaisndtymiaa.nfc
\rfhent-@y-\rfhent Beveafpcegt Ipprfvias
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
29/72
04
B i a a i
s R e x i s
C i r n
m 0 < 9 :
^furne8 www.biaaisndtymiaa.nfc
\rfhent-@y-\rfhent Beveafpcegt Ipprfvias
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
30/72
><
B i a a i
s R e x i s
C i r n
m 0 < 9 :
[my Bfes Rmds Citter6
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
31/72
>9
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Dgbdvdbuia nfugndacec`ers mive jew pfadtdnia
dgnegtdves tf gekftdite jfr ijjfrbi`ae mfusdgk wdtmdg
tmedr bdstrdnts..
[my Bfes Rmds Citter6
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
32/72
>0
B i a a i
s R e x i s
C i r n
m 0 < 9 :
Dgbdvdbuia nfugndacec`ers mive jew pfadtdnia
dgnegtdves tf gekftdite jfr ijjfrbi`ae mfusdgk wdtmdg
tmedr bdstrdnts..
[my Bfes Rmds Citter6
[dtmfut i trigspiregt, nfgsdstegt egtdtaecegts
ipprfvia prfness, Biaais ds cdssdgk fut fgfppfrtugdtdes tf tribe upzfgdgk jfr ijjfrbi`ae
mfusdgk.
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
33/72
>>
B i a a i
s R e x i s
C i r n
m 0 < 9 :
[my Bfes Rmds Mippeg6
• Fpique, dgnfgsdstegt prfness jfr prfhent revdew,ipprfvia, igb innfugti`dadty
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
34/72
>2
B i a a i
s R e x i s
C i r n
m 0 < 9 :
[my Bfes Rmds Mippeg6
• Fpique, dgnfgsdstegt prfness jfr prfhent revdew,ipprfvia, igb innfugti`dadty
• Nfugnda-cigiker strunture fj ndty kfvergcegt
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
35/72
>5
B i a a i
s R e x i s
C i r n m 0 < 9 :
[my Bfes Rmds Mippeg6
• Fpique, dgnfgsdstegt prfness jfr prfhent revdew,ipprfvia, igb innfugti`dadty
• Nfugnda-cigiker strunture fj ndty kfvergcegt
• Rwf-yeir eaentdfg nynaes
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
36/72
>:
B i a a i
s R e x i s
C i r n m 0 < 9 :
[my Bfes Rmds Mippeg6
• Fpique, dgnfgsdstegt prfness jfr prfhent revdew,ipprfvia, igb innfugti`dadty
• Nfugnda-cigiker strunture fj ndty kfvergcegt
• Rwf-yeir eaentdfg nynaes
• Iabercigdn prdvdaeke
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
37/72
>;
B i a a i
s R e x i s
C i r n m 0 < 9 :
Rme Rffas, Jugbdgk Cenmigdscs igb \irtgers
• Adst fj resfurnes ividai`ae tf beveafpers
„ Cdxeb-dgnfce & sdgkae jicday
„ Dgjfrc & dgnegtdvdze beveafpers
• Ijjfrbi`ae cuatdjicday & sdgkae jicday preservitdfg prfkric
„ ‑Gituriaay fnnurrdgk– ijjfrbi`ae mfusdgk
„ ADMRN igb ftmer su`sdbdzeb prfpertdes
• Ikdgk dg paine mfusdgk ipprfinmes
„ Gew nfgstruntdfg igb repidr prfkrics
• Nreitdgk i jaexd`ae sfurne fj jugbdgk (d.e., Mfusdgk Rrust Jugb)
• Ndty igb dgstdtutdfgiaay fwgeb aigb 3 beveafpcegt fppfrtugdty
• Dgnausdfgiry zfgdgk fr piycegt dg adeu prfkric jfr cdxeb-dgnfce stritekdes dgbdstresseb igb mdkmer dgnfce ireis.
• Nfccugdty egkikecegt prfness ds nrdtdnia jfr sunness
Cixdcdzdgk igb aeverikdgk tffas wdaa `e nrdtdnia tf sunnessjua dcpaecegtitdfgfj mfusdgk stritekdes. Rme pigea meirb…
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
38/72
>=
B i a a i s R e x i s
C i r n m 0 < 9 :
Rffas, Jugbdgk Cenmigdscs igb \irtgers
• Cuatdjicday cfrtkike jdgigne
„ MUB, Jiggde Cie igb Jrebbde Cin
• Afw Dgnfce Mfusdgk Rix Nrebdts (ADMRN)
„ 4% igb 2% ADMRN „ Yuiadjdeb Iaafnitdfg \aig (YI\)
• MFCE Jeberia Jugbdgk
„ Kip jdgigndgk, regtia igb cfrtkike issdstigne
• Nfccugdty Beveafpcegt @afno Krigt (NB@K)
„ Tfutm & segdfr prfkrics, mfusdgk issdstigne, repidrs,cfrtkike issdstigne, mfcefwgersmdp, dgjristrunturedcprfvecegts
• MUB 9
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
39/72
>4
B i a a i s R e x i s
C i r n m 0 < 9 :
Rffas, Jugbdgk Cenmigdscs igb \irtgers
• Gew Ciroet Rix Nrebdts
„ Ibcdgdstereb `y Biaais Beveafpcegt Jugb (ugber Enfgfcdn Beveafpcegt)
„ ^purs enfgfcdn beveafpcegt dg ugberserveb gedkm`frmffbs
• \u`adn \rdvite Fppfrtugdty Jugb
„ Kegeria F`adkitdfg @fgbs (KF @fgbs)
„ ^uppfrts enfgfcdn beveafpcegt tmit nreites hf`s igb prdvite dgvestcegt
„ Cdxeb use & resdbegtdia cust `e revdeweb fg i nise-`y-nise `isds igbrequdre 0
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
40/72
2<
B i a a i s R e x i s
C i r n m 0 < 9 :
Rffas, Jugbdgk Cenmigdscs igb \irtgers
• Rix Dgnrecegt Jdgigndgk (RDJ)
„ ^pendia purpfse bdstrdnts (9= fj tmec ndtywdbe)
„ ^uppfrts dcprfvecegts igb su`sdbdzes eadkd`ae prfhents wdtmdg tme bdstrdnt
„ ^u`sdby jfr resdbegtdia requdres i set isdbe fj 0
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
41/72
29
B i a a i s R e x i s
C i r n m 0 < 9 :
Rffas, Jugbdgk Cenmigdscs igb \irtgers
\irtgers
„ Biaais Mfusdgk Iutmfrdty (BMI)
„ Biaais Dgbepegbegt ^nmffa Bdstrdnt (BD^B)
„ Biaais Mi`dtit jfr Mucigdty
„ Rme Peia Estite Nfugnda (RPEN)
„ Nfccugdty Mfusdgk Beveafpcegt Frkigdzitdfgs (NMBFs)
„ Dgnausdve Nfccugdtdes \rfhent
„ Biaais Irei Pipdb Rrigsdt (BIPR) „ Nfccugdty igb ^ervdne Frkigdzitdfgs
„ Jfr-prfjdt beveafpers
@udabdgk nfaai`fritdfg igb nipindty tmrfukm pirtgersmdps wdaa `e nrdtdnia jfr
nfaaentdve dcpint
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
42/72
20
B i a a i s R e x i s
C i r n m 0 < 9 :
Egfukm \aiggdgk …
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
43/72
2>
B i a a i s R e x i s
C i r n m 0 < 9 :
Egfukm \aiggdgk … Rdce Rf Int!!
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
44/72
22
B i a a i s R e x i s
C i r n m 0 < 9 :
Egfukm \aiggdgk … Rdce Rf Int!!
\aig Pespfgsd`dadtyNfgsfadbiteb \aig Ndty Cigiker
Gedkm`frmffb\aus Ndty Cigiker
Krfw^futm Ciyfr
Biaais Mfusdgk Iutmfrdty Jdve-Teir \aig Biaais Mfusdgk Iutmfrdty (BMI)
`udabdgknfccugdty[FPO^MF\ paig Ndty Cigiker
Cdbbae-Dgnfce Mfusdgk \rfpfsia Rme Peia Estite Nfugnda (RPEN)
Mfusdgk Jfr IaaGfrtm Rexis Nfccugdty Beveafpcegt
Issfnditdfg
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
45/72
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
46/72
2:
B i a a i s R e x i s
C i r n m 0 < 9 :
\PDGND\AE^
• ‑KF @DK–
„ Zdsdfg
„ Aeibersmdp
„ \fadtdnia [daa
„ Dggfvitdfg
„ Kfias igb Cetrdns
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
47/72
2;
B i a a i s R e x i s
C i r n m 0 < 9 :
\PDGND\AE^
• ‑KF NFC\PEMEG^DZE–
„ Mfusdgk Fgay \irt fj ^fautdfg
„ [fro dg @ftm Enfgfcdniaay Bdstresseb igb Mdkm Fppfrtugdty Ireis
„ \u`adn / \rdvite \irtgersmdps
„ Aigb @igodgk
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
48/72
2=
B i a a i s R e x i s
C i r n m 0 < 9 :
\PDGND\AE^
• ‑KF AFGK-REPC–
„ Nfccdtcegt @eyfgb Rercs igb Nynaes
„ Nfgsdstegt igb Rrigspiregt \fadndes igb \rfnebures
„ Innfugti`dadty
„ Biti-Brdveg Igiaysds Pepfrtdgk
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
49/72
24
B i a a i s R e x i s
C i r n m 0 < 9 :
\PDGND\AE^
• ‑KF PEKDFGIA–
„ Dgnaube tme Ndty fj Biaais igb Ibhinegt Pekdfgs dg Ijjfrbi`aeMfusdgk igb Enfgfcdn Fppfrtugdty Dgdtditdves
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
50/72
5<
B i a a i s R e x i s
C i r n m 0 < 9 :
\PDGND\AE^
• ‑KF ̂ U^RIDGI@AE–
„ Jdgigndia igb Enfgfcdn
„ Egvdrfgcegtia
• ^ustidgi`ae
• Pesdadegt
• Meiatmy
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
51/72
59
B i a a i s R e x i s
C i r n m 0 < 9 :
PENFCCEGBIRDFG^
• Esti`adsm ig Dgbepegbegt Mfusdgk igb Nfccugdty DgvestcegtRiso Jfrne
• Ippfdgt i NEF tf Aeib tme Riso Jfrne
• Esti`adsm i Mfusdgk Rrust Jugb Jdgigneb `y Bebdniteb Pevegue
^furnes
„ KF @fgbs / \iycegts Dg Adeu / Jees / Ftmer6
• Expafre Dgnausdfgiry Mfusdgk Pequdrecegts wdtm \iycegts dg Adeu
• \ursue i \u`adn igb Dgstdtutdfgia Aigb Use ^triteky
• Expigb Mfusdgk Nmfdne Zfunmer Fppfrtugdtdes
-
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50
B i a a i s R e x i s
C i r n m 0 < 9 :
PENFCCEGBIRDFG^
• Jfr RDJ igb Ftmer Ndty Jugbeb \rfhents8
„ Nreite i ^adbdgk ^niae tf Iaafw Ijjfrbi`ae Ugdts it @eafw =
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5>
B i a a i s R e x i s
C i r n m 0 < 9 :
-
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52
B i a a i s R e x i s
C i r n m 0 < 9 :
Dcpaecegtitdfg8 Risojfrne Nfgnept
• Dgbepegbegt „ Aeb `y i mdkmay-respenteb ndvdn aeiber is Nmdej Exenutdve Fjjdner fj
Mfusdgk igb Nfccugdty Dgvestcegt „ Gf fr cdgdcia siairy „ Pepfrts tf Ndty Nfugnda igb Ciyfr
• Reic dgnaubes i biy-tf-biy cigiker igb teic fj nfgsuatigts jrfc Biaais— `est`usdgess igb gfgprfjdt frkigdzitdfgs
• ^uppfrteb `y Ndty stijj igb i nfccugdty stioemfaber krfup
• Urkegt nmigke ikegt wdtm i biti-brdveg ipprfinm „ Kfia-frdegteb igb ejjdndegt
„ [fro adoeay innfcpadsmeb dg ipprfxdciteay 9= cfgtms
• ^erve is i cfbea jfr trust `etweeg oey nfgstdtuegts „ @rdgks tfketmer tme virdfus paigs igb renfccegbitdfgs jfr mfusdgk
D a d R oj P a b P d`dad d
-
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55
B i a a i s R e x i s
C i r n m 0 < 9 :
Dcpaecegtitdfg8 Risojfrne Pfaes igb Pespfgsd`dadtdes
• ^et naeir igb trigspiregt kfias igb f`hentdves wdtm Ndty Nfugnda ipprfvia
• Nreite i stioemfaber krfup dgnaubdgk8 „ Nfccugdty aeibers
„ Peia estite igb `usdgess nfccugdty
„ Meiatmnire igb ebunitdfg prfvdbers
• Issess igb renfccegb nmigkes tf tme mfusdgk igb nfccugdty dgvestcegt pfadndes,prfnebures igb struntures
„ @iseb upfg biti brdveg nrdterdi igb
„ Dgnaubdgk `egnmciros igb ceisurecegts
• Dcpaecegt nmigkes is ipprfveb `y Ndty Nfugnda
• Pevdew igb ipprfve fj iaa mfusdgk igb nfccugdty beveafpcegt bendsdfgs prdfr tfpresegtitdfg tf Ndty Nfugnda jfr ipprfvia
• ^unness ceisureb `y i snfrenirb fj f`hentdves igb repfrteb quirteray
D a t td R oj F d td
-
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5:
B i a a i s R e x i s
C i r n m 0 < 9 :
Dcpaecegtitdfg8 Risojfrne Frkigdzitdfg
Ciyfr igb Ndty Nfugnda
Ndty Cigiker
Ndty Bepirtcegts/^tijj
Risojfrne NEF
Risojfrne Cigiker
Nfgsuatigt Reic
D a t td D t d \ d dt I
-
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5;
B i a a i s R e x i s
C i r n m 0 < 9 :
Dcpaecegtitdfg8 Dcprfvecegt dg \rdfrdty Ireis
• Dbegtdjy prdfrdty gedkm`frmffbs jfr jfnuseb dcprfvecegt
„ ^eaent `iseb upfg tme exdstegne fr i`dadty tf beveafp cihfr systecs
„ It aeist tmree systecs smfuab `e requdreb
• Cihfr ecpafyers
• Exdstdgk mfusdgk rebeveafpcegt
• Yuiadty snmffa fppfrtugdtdes
• Meiatmnire prfvdbers
• Rrigsdt fptdfgs
• Cihfr nfccerndia/retida ignmfrs
• Fge prdfrdty gedkm`frmffb dg nfre ^futmerg Biaais renfccegbeb, sunm is Aignister nfrrdbfr,Jrizder, UGRLBiaais, ^[ negter ciaa, Nebirs fr [yggewffb Zdaaike.
• Fge prdfrdty gedkm`frmffb tmit `udabs upfg tme nurregt cfcegtuc geir tme bfwgtfwg nfre,sunm is [est Biaais, Jidr \iro fr @dsmfp Irts
• \aig igb seaent nitiaytdn prfhents dg tmese ireis tmit prfvdbe tme fppfrtugdty jfr truerevdtiadzitdfg
D a t td Ijj b `a U dt d Md m F t dt I
-
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5=
B i a a i s R e x i s
C i r
n m 0 < 9 :
Dcpaecegtitdfg8 Ijjfrbi`ae Ugdts dg Mdkm Fppfrtugdty Ireis
• Issess nurregt aigb mfabdgks igb dgbepegbegtay inqudre aigb jfr cdxeb-dgnfcebeveafpcegt dg mdkm fppfrtugdty ireis
• [fro wdtm ftmer dgstdtutdfgs/ikegndes tf nreite hfdgt beveafpcegt paigs (e.k. BIPR, BD^B,Biaais Nfugty Mfspdtia)
„ F`tidg i cecfrigbuc fj ugberstigbdgk `etweeg oey pirtgers jfr `etter nffrbdgitdfgfj beveafpcegt intdvdtdes
„ ^unness wdaa `e adcdteb dj cdxeb-dgnfce beveafpcegts bfg—t ejjentdveay aeveriketrigspfrtitdfg, ebunitdfg igb meiatmnire
• Dgnreise tme painecegt fj Mfusdgk Nmfdne Zfunmer mfabers `y aeisdgk tf i pirtger egtdtytmit tmeg su`aeises tf vfunmer mfabers• \irtger nfuab serve is i kuirigtfr igb streicadge tme regtia prfness• \rfkric nig `e cfbeaeb ijter nfrpfrite regtia prfkric
• Egkike i tmdrb pirty adstdgk servdne jfr i cfre trigspiregt igb nfcpremegsdve trinodgk fjividai`ae ijjfrbi`ae ugdts (e.k. ^fndia^erve.nfc)
D a t td M d R t J b
-
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54
B i a a i s R e x i s
C i r
n m 0 < 9 :
Dcpaecegtitdfg8 Mfusdgk Rrust Jugb
• Cigikecegt Fptdfgs8
„ Ndty/Biaais Mfusdgk Jdgigne Nfrpfritdfg BMJN „ Nfccugdty Beveafpcegt Jdgigndia Dgstdtutdfg (NBJD)
„ Gfgprfjdt
• \ftegtdia Jugbdgk ^furnes8
„ Kegeria F`adkitdfg @fgbs• ^eaa ipprfvia jfr mfusdgk dg tme gext `fgb dssue
• Nfccugdnite tme dcpfrtigne tmrfukm i nffrbdgiteb ciroetdgk nicpidkg
„ ^eittae8 Aevy nicpidkg
„ Nmiraftte8 Nmic`er aeb nicpidkg
„ \erjfrc ig futsdbe igiaysds fj vdi`dadty fj adgoike jees igb piycegt dg adeu fjprfvdbdgk ijjfrbi`ae ugdts
„ Pe-bdrentdgk RDJ jugbs jrfc prfhents tmit fpt fut
„ Iaafnite i pfrtdfg fj NB@K fr ftmer exdstdgk Ndty MUB iaafnitdfgs
„ Jfugbitdfg igb Nfrpfrite krigts
Dcpaecegtitdfg8 Mfusdgk \fadny Nmigkes ‑Yudno [dgs–
-
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:<
B i a a i s R e x i s
C i r
n m 0 < 9 :
Dcpaecegtitdfg8 Mfusdgk \fadny Nmigkes „ ‑Yudno [dgs–
• Expafre nfgtdgueb fppfrtugdty tf beveafp Afw Dgnfce Mfusdgk Rix Nrebdt (ADMRN) prfhents
„ Cioe wrdtteg nfccegts tf Yuiadjdeb Iaafnitdfg \aig
„ Cfve jfrwirb exdstdgk ippadnitdfgs jfr preservitdfg prfhents
„ [fro wdtm ftmer ndtdes igb beveafpers wdtm sdcdair nfgnergs
• Esti`adsm i nfcpadigne cfgdtfrdgk teic tf trino ijjfrbi`ae ugdts dg exdstdgk igb juture prfhents
• Esti`adsm ipprfprdite ijjfrbi`dadty perdfbs jfr ugdts dg ndty-jugbeb prfhents
• Dbegtdjy igb rebepafy jugbs jrfc stiaaeb prfhents
• Dgnreise nfbe dgspentdfgs igb revdew fj mfusdgk stfno
• Beveafp i KD^-`iseb systec fj prdfrdtdzdgk, bfnucegtdgk, cfgdtfrdgk igb nfrrentdgk nfbe
vdfaitdfgs
• Eviauite tme pfssd`ae use fj mfcesteib preservitdfg bdstrdnts
-
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:9
B i a a
i s R e x i s
C i r
n m 0 < 9 :
@est \rintdne8 Aeibersmdp igb \fadtdnia [daa
-
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:0
B i a a
i s R e x i s
C i r
n m 0 < 9 :
@est \rintdne8 Aeibersmdp igb \fadtdnia [daa
Mfusdgk GFAI \aig8 aiugnmeb 0
-
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:>
B i a a i s R e x i s
C i r
n m 0 < 9 :
@est \rintdne8 Bebdniteb Pevegue ^furne
Nmiraftte Mfusdgk Rrust Jugb8 esti`adsmeb 0
-
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:2
B i a a i s R e x i s
C i r
n m 0 < 9 :
@est \rintdne8 Dgnausdfgiry Mfusdgk wdtm Dgnegtdves
\iac @einm Nfugty [frojfrne Mfusdgk \rfkric, esti`adsmeb 0
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
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:5
B i a a i s R e x i s
C i r
n m 0 < 9 :
@est \rintdne8 ^tritekdn Use fj \u`adn Aigb jfr Cdxeb-Dgnfce
Cfgtkfcery Nfugty (CB), sdgne aite 94=<pernegt ijjfrbi àe mfusdgk fg pu`adn aigb.
Nurregt sdtes nfgsdbereb jfr juture cdxeb-dgnfce8 gew pfadne stitdfg, jfrcer pfadnestitdfg, i jfrcer pu`adn jdre sijety- tridgdgk sdte, igb i juture jdre stitdfg.
Rioeiwiy jfr Biaais8 ^edze tme fppfrtugdty dg aigb fwgersmdp tf suppfrt cdxeb-dgnfcebeveafpcegt.
@est \rintdne8 Pekdfgia Mfusdgk Fppfrtugdty
-
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::
B i a a i s R e x i s
C i r
n m 0 < 9 :
@est \rintdne8 Pekdfgia Mfusdgk Fppfrtugdty
Nmdnikf Pekdfgia Mfusdgk Dgdtditdve, 0
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
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:;
B i a a i s R e x i s
C i r
n m 0 < 9 :
p y p
Rme Zdaaikes fj Eist Aioe (Itaigti), sdgne 0
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
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:=
B i a a i s R e x i s
C i r
n m 0 < 9 :
p y p
Rme Zdaaikes fj Eist Aioe (Itaigti), sdgne 0
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
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:4
B i a a i s R e x i s
C i r
n m 0 < 9 :
@est \rintdne8 ^ustidgi`ae Beveafpcegt
Iustdg ^.C.I.P.R Mfusdgk \rfkric, sdgne 0
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
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;<
B i a a i s R e x i s
C i r
n m 0 < 9 :
^ucciry fj Cihfr Penfccegbitdfgs
-
8/20/2019 2016-03-04_ULI Advisory Services Panel Dallas 2016 Final
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;9
B i a a i s R e x i s
C i r
n m 0 < 9 :
^ucciry fj Cihfr Penfccegbitdfgs
• Custer tme pfadtdnia wdaa tf ibbress tme ijjfrbi`ae mfusdgk nrdsds• Nreite i Nmdej Exenutdve Fjjdner fj Mfusdgk igb Nfccugdty
Dgvestcegt
• Nreite i Mfusdgk Rrust Jugb wdtm bebdniteb revegue sfurnes
• Dbegtdjy i adcdteb guc`er fj mfusdgk igb nfccugdty revdtiadzitdfgjfnus ireis
• Expigb mfusdgk nmfdnes dg mdkm fppfrtugdty ireis
• Nreite i prebdnti`ae, trigspiregt igb ejjdndegt mfusdgk pfadny „Ndtywdbe
• Egfukm \aiggdgk „ Rdce tf Int
Yuestdfgs
-
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B i a a i s R e x i s
C i r n m 0 < 9 :
Yuest f s