october 18, 2019 the times center, new york city 20/20 · 2019-10-14 · entrepreneurship training...

OCTOBER 18, 2019 | THE TIMES CENTER, NEW YORK CITY

MAJOR SPONSORS

Ashley Capital

Property Markets Group

RXR Realty LLC

Starwood Capital Group / Starwood Property Trust

Urban American

Westport Capital Partners

Winston & Strawn LLP

CONTRIBUTING SPONSORS

Amherst Capital Management

Arnold & Porter

Cape Advisors

Centennial

Centerbridge Partners

Clifford Chance

Criterion Real Estate Capital

Eightfold Real Estate Capital

FTI Consulting

Greenberg Traurig, LLP

Hodes Weill & Associates

Herrick, Feinstein LLP

Hudson Companies

Kramer Levin Naftalis & Frankel LLP

Pacific Western Bank

Paul Hastings LLP

RedSky Capital

Singerman Real Estate

SteepRock Capital

Terra Capital Partners

The Georgetown Company

Walton Street Capital

THANKS TO

Winthrop Capital Wos & Wos Development Corp

20/20:Hindsight and Foresight

NEXT YEAR IS 2020. Are you ready for the unfolding challenges, disruptions and opportunities in commercial real estate?

37th AnnualCornell Real Estate ConferenceOctober 18, 2019 | The Times Center, New York City

OCTOBER 18, 2019 | THE TIMES CENTER, NEW YORK CITY37TH ANNUAL CORNELL REAL ESTATE CONFERENCE

Welcome from the Conference Co-Chairs

The Cornell Real Estate Council (CREC) is pleased to host Cornell’s 37th annual real estate conference.

Like the movie “Groundhog Day,” we have been listening to economists make the same forecast for the past several years: a potential mild recession is two years away. Citing lots of contradictory economic data, these economists emphasize the positive low unemployment, low inflation and low interest rates but caution us about the near-term geo-political risks and concerns about the impact of trade wars on an already slowing global economy.

The theme of today’s conference is “20/20: Hindsight and Foresight.” With each passing month, the economy extends the longest expansion on record and the value of sharp focus and clear vision becomes increasingly important to help navigate a highly uncertain economic and political future for us.

Today’s conference provides an extraordinary opportunity to hear insightful perspective and commentary from some of the most influential thought leaders in both public and private real estate. These highly accomplished speakers and panelists will provide real time thoughts on where they are investing today and the mega-trends and long-term disrupters that influence their decision-making.

We want to thank you for your attendance today. On behalf of CREC, we also greatly appreciate the support of the program sponsors and the many individuals that have contributed. These contributions help to cover the costs of the conference, as well as the on-going mission of CREC to further the academic, educational and aspirational goals of alumni and students within the Cornell real estate community.

Enjoy the conference!

Seth Singerman

Managing Principal, Singerman Real Estate

Alan Riffkin

Managing Director, Lazard

Jen Davis

Head of Investor Relations, Northwood Investors

Co-Chairs:Jen Davis, Northwood Investors Alan Riffkin, LazardSeth Singerman, Singerman Real Estate

Members:Bruce Batkin, Terra Capital Partners Gabe Boyar, Amherst CapitalAdam Burinescu, Centerbridge PartnersSpencer Burton, Northwestern MutualJames Deck, Hodes WeillEric Freeman, Lazard Tracey Gamble, Apollo

Lynn Zuckerman Gray, Campus ScoutEric Gross, WeWork Matthew Mitchell, SteepRock Capital Justin Pollack, FTI ConsultingChuck Rosenzweig, Criterion Real Estate CapitalPaul Rubacha, Ashley CapitalDave Rupert, Griffin CapitalAlan Tantleff, FTI ConsultingSush Torgalkar, ExtellJenny Wang, BlackstoneDoug Weill, Hodes WeillLanhee Yung, Starwood Capital

Please join our 30 year old start-up...

Started more than 30 years ago by a group of alumni, and distinguished by decades of successful engagement, leadership, scholarship and good old fashioned networking, the Cornell Real Estate Council officially re-launched two years ago at the 35th Annual conference. Since that launch, we have attracted over 1,000 members, and launched several key initiatives including:

1. The CREC Career Advisory Program (CREC CAP), which focuses on mentoring and providing career advice to current undergraduate and graduate students studying real estate at Cornell;

2. A robust group of CREC Regional Chapters, alumni-led efforts in key cities with concentrations of Cornellians working in real estate, hosting informative events in their areas; and

3. A growing website and social media presence to further open up communication, and networking among CREC members around the world.

We are extremely excited about all that we have accomplished to date. We encourage Cornell alumni who have not yet joined to become members, and for those who have joined, get more involved! Find a way to share your experience and expertise; together we can increase the voice of ‘Real Estate at Cornell’. To learn more, please visit our website at cornellrec.org.

We look forward to your participation!

CONFERENCE STEERING COMMITTEE

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37TH ANNUAL CORNELL REAL ESTATE CONFERENCE OCTOBER 18, 2019 | THE TIMES CENTER, NEW YORK CITY

FRIDAY, OCTOBER 18, 2019

8:00 am Breakfast

Concurrent Sessions:

Networking Breakfast; Meet and Greet with Students/Industry Mentoring;

ACWIRE (Association of Cornell Women in Real Estate)

Page 4 9:00 am Introduction

Introduction to the Cornell Real Estate Council (CREC) by members of its board

Paul Rubacha* (Ashley Capital); Lynn Zuckerman Gray* (Campus Scout)

Page 5 9:10 am Welcome Remarks

Alan Riffkin* (Lazard)

Page 6 9:15 am Panel 1: The CEO’s Check-in

Join our panel of prominent industry leaders as they examine trends likely to impact their businesses, their industries and their lives.

Moderator: Richard Baker* (Hudson’s Bay Company)

Panelists: Ben Harris (Link Industrial Properties); Owen Thomas (Boston Properties); Don Wood (Federal Realty); Doug Yearley (Toll Brothers)

10:15 am MID MORNING BREAK

Page 11 10:35 am KPMG’s 2019 Global PropTech Survey Summary

Phil Marra (KPMG)

Page 12 10:45 am Panel 2: PropTech - The New Buzzword

“PropTech” – the ultimate real estate disruptor. Find out how our panelists of PropTech innovators and investors plan to disrupt the traditional real estate model.

Moderator: Zak Schwarzman (MetaProp)

Panelists: Brad Greiwe (Fifth Wall); Andrea Jang* (JLL Spark); Judah Siegal (Brookfield)

Page 14 11:30 am Presentation of 2019 Institutional Real Estate Allocations Monitor

Doug Weill* (Hodes Weill)

Page 16 12:00 pm Presentation of Cornell Real Estate Review’s 2019 Industry Leader Award

Moderator: Kevin Jacobs* (Hilton)

Honoree: Jonathan Gray (Blackstone)

12:45 pm LUNCH

PROGRAM PROGRAM

Page 17 1:45 pm Keynote Speaker

One-on-one discussion with Bill Ackman, CEO and Founder of Pershing Square Capital Management

Moderator: Dominic Chu* (CNBC)

2:30 pm Cornell Real Estate Clubs Update

The following Cornell Clubs will have a representative give an update on their latest initiatives:

- Association of Cornell Women in Real Estate (ACWIRE)- Associate Real Estate Club (AREC)- Cornell Real Estate Club (CREC)

Representatives: Tim Bergin* (CREC); Lera Covington* (ACWIRE); Marco DeLeon* (AREC); Emile Schacter* (AREC)

Page18 2:45 pm Panel 3: Silver Tsunami

Baby Boomers are currently one of the most influential generational cohorts in the marketplace; the approximately 79 million of them comprise about one-third of the country’s population. This aging population and their impending retirement will have major implications for the commercial real estate industry. For example, the upswing in demand coming from Baby Boomers is expected to include more affordable housing, accessibility and a range of housing options.

Moderator: Seth Singerman* (Singerman Real Estate)

Panelists: Mark Alexander (Atria Senior Living); Billy Butcher (KKR); Guy Geller* (Grace Management); Adam Kaplan* (Solera Senior Living)

3:40 pm AFTERNOON BREAK

Page 23 4:05 pm Panel 4: Placemaking

According to the Brookings Institute: After decades of sprawl and suburban dominance, U.S. cities are experiencing rebounding populations, growing employment, and new public and private sector investments. These trends are creating an upshot of shifting demographics, household structures, and market preferences driving higher demand for areas that are walkable, amenity-rich, and which facilitate collaboration among firms and workers.

Moderator: Alan Tantleff* (FTI)

Panelists: Ben Bernstein* (RedSky Capital); Adam Flatto (The Georgetown Company); MaryAnne Gilmartin (L&L MAG ); Saul Scherl (Howard Hughes Corp)

5:00 pm Wrap-up and Closing Remarks

Paul Rubacha* (Ashley Capital)

*Denotes Cornell Alumnus

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PAUL RUBACHACEO AND PRINCIPAL, ASHLEY CAPITAL, LLC

CHAIR, CORNELL REAL ESTATE COUNCIL

Paul Rubacha for nearly thirty-five years has participated as a guest lecturer and panelist for various real estate courses at Cornell.

Paul is Chairman of the Baker Real Estate Advisory Board as well as Co-Chair of the Real Estate Subcommittee of the University’s Investment Committee. He has actively served with the Architecture Advisory Board for over a decade.

Paul is a Co-Founder and Principal at privately held Ashley Capital. He has primary responsibility for financing and capital transactions. Paul supervises a professional staff located in four cities and oversees all facets of acquisition, development and management of Ashley’s twenty five million square foot portfolio.

Prior to co-founding Ashely capital, Paul served in senior capacities within the Real Estate Departments of Goldman Sachs, Citibank and Prudential Insurance Company, He holds both an undergraduate degree and MBA from Cornell University. Paul has been a real estate lecturer at several universities and served as a panelist for various organizations including the Urban Land Institute, the U.S Department of Transportation and Institutional Investor Magazine, he has been awarded the distinction of Counselor of Real Estate.

LYNN ZUCKERMAN GRAYFOUNDER AND CEO, CAMPUS SCOUT, LLC

Lynn Zuckerman Gray is the Founder and CEO of Campus Scout, LLC, an innovative provider of strategic campus and recent graduate recruiting services, career coaching for young professionals and bespoke training programs for employers, all focused on the Millennial and Z generations. Since its inception in mid-2009, Campus Scout has recruited at more than 100 graduate and undergraduate campuses throughout the United States, Canada and the UK and has successfully assisted in the hiring of recent college and Business/professional School graduates for foreign and domestic clients.

Prior to founding Campus Scout, Ms. Gray was with Lehman Brothers/Barclays for more than eleven years, where she served as the Real Estate Group’s Global Chief Administrative Officer. A graduate of Tufts University and the Cornell Law School, she serves on the Advisory Board of the Cornell Baker Program in Real Estate and on the Board of the Cornell Real Estate Council. She has taught courses in Real Estate Finance, Leadership, Managing Millennials and Advanced Recruiting as an Adjunct Professor at Fordham University’s Gabelli School of Business and at NYU’s Graduate Program in Human Capital Management. Ms. Gray is a Certified Facilitator for the Kauffman Foundation FastTrac New Venture and FastTrac Growth Venture

Entrepreneurship training programs and she has served as a Mentor for WE NYC (Women Entrepreneurs NYC), an arm of the New York City Department of Small Business Services. Ms. Gray has written and been a featured speaker on talent management, entrepreneurship and real estate topics.

ALAN RIFFKINMANAGING DIRECTOR, LAZARD

Alan F. Riffkin is a Managing Director in the New York office of Lazard, a global investment bank. He specializes in mergers and acquisitions, special committee assignments, and other strategic advisory and restructuring transactions for leading real estate companies and homebuilders.

Mr. Riffkin is a Global Governing Trustee of the Urban Land Institute as well a member of various industry organizations including the National Association of Real Estate Investment Trusts, the International Council of Shopping Centers, the Cornell Real Estate Council and the Samuel Zell and Robert Lurie Real Estate Center at the Wharton School. Mr. Riffkin has a B.S. from Cornell University and an M.B.A. from The Wharton School, The University of Pennsylvania.

INTRODUCTION

SPEAKERS: Paul Rubacha,* Lynn Zuckerman Gray*

WELCOME REMARKS

SPEAKER: Alan Riffkin*

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Amherst Capital is a provider of flexible debt solutionsto experienced middle market owners and investors of

transitional commercial real estate assets.Amherst Capital Management | 444 Madison Avenue, Floor 19, New York, NY 10022 | www.amherstcapital.com

California Finance Lender License: Loans made or arranged pursuant to a California Finance Lenders Law license. Finance Lender License No. 60DBO-54922/60DBO-54923. Supervised by the California Department of Business Oversight. North Carolina Loan Broker Registration: Loans made or arranged pursuant to a North Carolina Loan

Broker Registration. Loan Broker Registration No. 208/207. Supervised by the North Carolina Department of the Secretary of State.

Christopher KellyManaging Director

Head of Commercial Real Estate Lending212.303.1597

[email protected]

Abbe Franchot BorokManaging Director

Head of Originations212.303.1598

[email protected]

Gabe BoyarManaging Director

Originations212.409.5410

[email protected]

Multifamily RetailOffice HotelIndustrial Niche Assets

Centerbridge Partners is proud to support the 37th Annual Cornell Real Estate Conference

OWEN D. THOMASCHIEF EXECUTIVE OFFICER & DIRECTOR, BOSTON PROPERTIES

Owen D. Thomas is the Chief Executive Officer and a Director of Boston Properties. He is a director of Lehman Brothers Holdings and served as its first Chairman from 2012 until 2013 when he joined Boston Properties. Prior to Lehman, Mr. Thomas was with Morgan Stanley for 24 years serving in a number of different roles, business units and locations, including Chief Executive Officer of Morgan Stanley Asia and Chairman of Mitsubishi UFJ Morgan Stanley, while living in Hong Kong from 2008 until 2011. He also held the role of President of Morgan Stanley Investment Management, Head of Morgan Stanley Real Estate and served on Morgan Stanley’s Management Committee from 2005 until 2011.

Mr. Thomas is the Global Chairman of Urban Land Institute, a Director of the Urban Land Institute Foundation, an Officer and member of the Executive Board of the National Association of Real Estate Investment Trusts and a Director of the Real Estate Roundtable. He is a former Director of the University of Virginia Investment Management Company and a former Chairman of the Pension Real Estate Association. He attended and is a former Trustee of Woodberry Forest School, received a B.S. in Mechanical Engineering from the University of Virginia and an M.B.A. from Harvard Business School.

RICHARD A. BAKERGOVERNOR AND EXECUTIVE CHAIRMAN, HBC

Mr. Baker was named Governor of HBC in July 2008 and previously served as the CEO of the company. Mr. Baker also owns National Realty & Development Corporation (NRDC), one of the largest real estate development companies in the United States, with his father, Mr. Robert Baker. Additionally, Mr. Baker is the Chairman of the Board of Directors for Retail Opportunity Investments Corp. (ROIC), a NASDAQ-listed REIT, focused on acquiring retail properties on the east and west coasts of the United States.

At HBC, Richard Baker has been instrumental in leading the Company’s real estate strategy, including the formation of two real estate joint ventures, one with Simon Property Group Inc. (NYSE: SPG) in the United States and the other with RioCan Real Estate Investment Trust (TSX:REI.UN) in Canada. Mr. Baker also works to ensure HBC remains focused on driving the performance of high quality stores and their omnichannel offerings, as well as unlocking the value of its real estate holdings.

Mr. Baker is on the Board of Trustees at Cornell University and has served on or is currently serving on several of the University’s councils and advisory boards including: the Baker Program in Real Estate Advisory Board, the School of Hotel Administration Advisory Council, the Center for Real Estate and Finance Advisory Board and the Center for Real Estate and Finance Industry Fellows. Mr. Baker received his B.S. in Hotel Management from Cornell University in 1988.

Mr. Baker has received numerous professional honors, including being recognized by Business of Fashion as one of “The People Shaping The Global Fashion Industry” on its BoF 500 list (2012 – 2017), AJC Honoree (2012), MR Magazine’s 2016 Department Store Superpower, and Housewares Charity Foundation (HCF)’s Humanitarian of the Year in 2015.

BEN HARRISCEO, LINK INDUSTRIAL PROPERTIES

Benjamin P. Harris is CEO of Link Industrial Properties, Blackstone’s US industrial real estate platform which manages nearly $40 billion of industrial real estate in key markets throughout the US. Link was formed in 2018, following Blackstone’s purchase of Gramercy Property Trust (NYSE:GPT). Prior to the sale of Gramercy to Blackstone, Mr. Harris was Gramercy’s President and a member of the three-person team recruited to take over and rebuild Gramercy starting in 2012. Prior to joining Gramercy, Mr. Harris was Managing Director and Head of U.S. Investments at W. P. Carey LLC. Mr. Harris graduated with joint science degrees in Economics from University of Kings College and Dalhousie University in Canada. He is a CFA charter holder and a member of the NY Society of Securities Analysts.

PANEL 1: THE CEO’S CHECK-IN

MODERATOR: Richard Baker* PANELISTS: Ben Harris, Owen Thomas, Don Wood, Doug Yearley*


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DON WOODPRESIDENT & CHIEF EXECUTIVE OFFICER,

FEDERAL REALTY INVESTMENT TRUST

Founded in 1962 in Washington, D.C., Federal Realty is one of the oldest real estate investment trusts (REITs) and a recognized leader in the ownership, operation and redevelopment of high-quality, retail-based properties located primarily in major markets including Boston, New York, Philadelphia, Washington, DC, and Miami; as well as Chicago, Northern California & Bay Area, and Los Angeles. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by the communities they serve.

Federal Realty has increased its dividends for 52 consecutive years, the longest record in the REIT industry. The company is an S&P 500 index member and its shares are traded on the NYSE.

The company has been led by New Jersey-native Don Wood since 2002. Don, along with his dedicated and passionate team, is committed to a philosophy of balance in all that Federal Realty does. From environmental and socially responsible initiatives and operations, to supporting the communities in which they do business, to the creation of true retail social destinations that improve the quality of life for many, to providing a superior return to its stakeholders – Federal Realty is proud of its long history and corporate citizenry.

Don has been with Federal Realty since 1998, where he is a Trustee and has served in positions from Chief Financial Officer to Chief Operating Officer to President before being named its Chief Executive in 2002. Prior to his affiliation with Federal, Don spent 8 years at New York-based ITT Corporation, where he served in various capacities, including Deputy Controller and Chief Financial Officer of wholly-owned subsidiary Caesars World, Inc. The first 7 years of his career were spent at accounting firm Arthur Andersen, leaving in 1989 to work for client Donald Trump as the Vice President of Finance for the then newly acquired Trump Taj Mahal casino in Atlantic City, NJ.

Don is active charitably through his work with the Cystic Fibrosis Foundation (CFF) among others. In 2002, Don took the reins of the Breath of Life Gala – at the time a fledgling event supporting cystic fibrosis research – and with the help of a committed and tenacious team of volunteers and CFF staffers, grew the gala into what became one of the most financially and experientially successful events in Washington, D.C. and the number one gala nationally for CFF. Don’s daughter, Rachel, was born with the genetic disease.



9

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PHIL MARRAPARTNER, NATIONAL AUDIT LEADER – U.S. BUILDING, CONSTRUCTION &

REAL ESTATE, KPMG LLP (U.S.)

Phil is the National Audit Leader for KPMG’s BC&RE practice, as well as the firm’s US Real Estate Fund Leader. He is an audit partner based in New York with over 30 years of experience in providing audit, accounting, due diligence, and advisory services to real estate, finance, parking, construction and hospitality clients. His experience covers a wide range of client types, including public companies, owners, developers, managers and tenants of office, retail and residential properties, real estate opportunity funds, REITs, private equity, government agencies, not-for-profits, lenders, syndicators, foreign investors, real estate advisors, asset managers and construction companies. Phil is also a member of the US Asset Management Leadership Team and the New York Financial Services Leadership Team.

Phil’s responsibilities have included being the market development leader for the New York Asset Management practice, supervision of large multi-location audit engagements, review and evaluation of the management control environments of real estate companies, analysis and review of the construction and development process for office and retail projects, review and evaluation of real estate mortgage loans, lease analysis, review and analysis of real estate appraisals, real estate workouts, due diligence on proposed acquisitions and preparation of cash flow projections and models.

KPMG’S 2019 GLOBAL PROPTECH SURVEY

SPEAKER: Phil Marra

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Don received his Bachelor of Science degree from Montclair State College in 1982, where he graduated with honors and subsequently received his CPA from the state of New Jersey. He is a past chair of the National Association of Real Estate Investment Trusts (NAREIT), has served as a member of the Executive Committee of the International Council of Shopping Centers (ICSC), and on the Board of Quality Care Properties (NYSE:QCP), a Maryland healthcare REIT. He is also a member of the U.S. Capital Chapter of the World President’s Organization (WPO) and was previously named “Entrepreneur of the Year in Real Estate” by professional services firm Ernst and Young. He has been married to Stacey Sykes Wood for 29 years and has four children who he is immensely proud of named Ian, Jason, Kevin, and Rachel.

DOUG YEARLEYCHAIRMAN & CHIEF EXECUTIVE OFFICER, TOLL BROTHERS

Doug Yearley joined Toll Brothers in 1990 and has held various management positions over the past 29 years. He initially specialized in land acquisitions and project management, learning the home building business from the ground up. He then helped oversee the substantial growth of the company through new market expansion and builder acquisitions. He has been an officer since 1994, holding the position of Vice President from January 1994 until January 2002, Senior Vice President from January 2002 until November 2005 and Regional President from November 2005 until November 2009, where he managed home building operations in 9 markets throughout the country, oversaw the creation of the Toll Brothers City Living brand and managed the company’s outstanding Marketing Department. In November 2009, Doug was promoted to Executive Vice President, and then to Chief Executive Officer in June 2010. He also became a member of the Board of Directors at that time. In October 2018, Doug was elected to succeed Bob Toll as Chairman of the Board. Prior to joining Toll Brothers, Doug was an attorney at Archer & Greiner, a major New Jersey law firm, where he specialized in commercial litigation.

Doug received a B.S. from Cornell University in Applied Economics and Business Management in 1982 and a J.D. from Rutgers Law School in 1986.

Doug resides in Pennsylvania and has 5 children. He enjoys golf, tennis, skiing and travel. He is Co-Chair of the Pennsylvania Chapter of American Cancer Society’s CEO’s Against Cancer and is actively involved in the Yearley Family Foundation, which supports many charities assisting underprivileged children through education.




of debt and equity financing, including the sale of Hilton Hotels to The Blackstone Group for $26 billion—the largest hotel privatization in history. He then worked in real estate private equity at Tishman Speyer and Starwood Capital, where he executed over $30 billion of acquisitions, debt financing, and development projects.

Brad is originally from Cincinnati, lives in San Francisco, and graduated from Harvard University, where he received his BA in economics.

ANDREA JANGHEAD OF GROWTH, AMERICAS, JLL SPARK

Andrea Jang leads Growth for the Americas at JLL Spark, a $100M strategic Global Venture Fund focused on investing in PropTech for the commercial real estate sector.

Previously, Andrea was Senior Vice President, Corporate Development at JLL. She was responsible for driving revenue and margin growth through corporate acquisitions in capital markets, brokerage, and property management for JLL Americas. Andrea has held previous roles in business development and capital markets with key institutional real estate investors.

Andrea holds her MS in Real Estate from the Cornell Hotel School, her MBA from the Ivey Business School, and her BS Econ from the Wharton School.

JUDAH SIEGALVICE PRESIDENT, BROOKFIELD

Judah Siegal is a Vice President at Brookfield, responsible for sourcing, executing and managing technology-enabled investments at Brookfield Growth Partners.

Mr. Siegal joined Brookfield in 2012 and has held a number of roles across the organization. He was initially involved in investment and strategic initiatives for Brookfield’s Real Estate Group in NYC where he worked on a wide range of real estate transactions including Brookfield’s investments in Forest City Realty Trust and Hospitality Investors Trust.

Prior to joining Brookfield, Mr. Siegal worked in Citigroup’s Real Estate Investment Banking Division. Mr. Siegal holds a Bachelor of Science in Economics from the Wharton School at the University of Pennsylvania.

PANEL 2: PROPTECH - THE NEW BUZZWORD

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ZAK SCHWARZMANPARTNER, METAPROP

Zak Schwarzman is a Partner with MetaProp, where he leads the firm’s venture capital investment activities.

MetaProp is the world’s leading early-stage PropTech investment, advisory and startup acceleration firm. MetaProp team and venture capital funds have invested in 100+ technology companies that are transforming the way we conceive of, utilize, build, transact, interact with, and manage physical space. Currently investing out of its second fund, MetaProp’s investor base represents a pilot and test-ready sandbox of 15+ billion square feet across every real estate asset type and global market.

Zak’s investment experience spans seed, multi-stage and corporate venture capital and he is an active member of New York’s startup community. Prior to joining MetaProp, Zak was a Principal at Gotham Ventures, a seed-stage venture capital firm and an affiliate of the Draper Venture Network, where he covered PropTech, FinTech, the API Economy and EdTech, amongst other sectors. Zak’s previous venture capital background includes experience with Canaan Partners, AOL Ventures and LearnCapital.

Zak is a Kauffman Fellow and holds an M.B.A. from Columbia Business School and a B.A. in Political Economy and Business from Tulane University.

BRAD GREIWECO-FOUNDER & MANAGING PARTNER, FIFTH WALL

Brad Greiwe is a co-founder and Managing Partner at Fifth Wall, where he guides the firm’s strategic vision.

Prior to starting Fifth Wall, Brad co-founded Invitation Homes (NYSE: INVH), a multi-billion dollar owner and operator of single-family rental properties originally backed by The Blackstone Group. As CTO, he positioned Invitation Homes as the dominant technology-forward brand in the single-family rental category, developing a proprietary technology stack to support the valuation, acquisition, rehabilitation, leasing, and professional management of over 80,000 homes in 17 major markets, serving 120,000 residents across the U.S.

Brad started his career in investment banking at UBS in the real estate, lodging, and leisure group, where he tallied over $33 billion of M&A advisory work and $1 billion

PANEL 2: PROPTECH - THE NEW BUZZWORD

MODERATOR: Zak Schwarzman PANELISTS: Brad Greiwe, Andrea Jang,* Judah Siegal


NIKITA SARKARDIRECTOR OF EXTERNAL RELATIONS,

CORNELL UNIVERSITY’S SC JOHNSON COLLEGE OF BUSINESS (COLLEGE)

As Director of External Relations at Cornell University’s SC Johnson College of Business (College), with its three premier schools, Nikita Sarkar leads corporate outreach for real estate and key hospitality companies while based in NYC. Nikita builds mutually-beneficial “win-win” industry and academia relationships, working collaboratively with corporate clients and matrix of internal departmental teams, including Baker Program for Real Estate, Center for Real Estate and Finance, Career Management Center, eCornell, Executive Education, Executive MBAs, etc. Working at Cornell Tech, she helps translate the inspiring vision for Cornell’s dual-campus model and elevate the profile of the College and Real Estate educational programming and activities.

Nikita’s career spans more than 14 years of project management and client-facing experience in North America, Asia, Middle East and North & Sub-Saharan Africa. She has worked with varied real estate and hospitality businesses - providing advisory services related to strategy and planning, concept development, financial evaluation, performance improvement, marketing and revenue optimization.

Nikita has worked within Ernst & Young’s Hospitality, Leisure and Real Estate team in the New York and Dubai offices. During this time, she provided strategic advisory services to high-profile clients on engagements involving market research, feasibility studies, tourism, concept development, branding, restructuring, financial review, operational diagnostics, valuation and business planning. Nikita also spearheaded EY’s spa consulting initiatives, launching the first Middle East Spa Benchmark Survey and authoring industry thought-leadership articles.

Before EY, Nikita worked as the Director of Research at SpaFinder, Inc. in New York City where she was responsible for leading spa industry research initiatives. At SpaFinder, Inc. Nikita was also responsible for the project management of the first Global Spa Summit held in NYC.

Nikita has a Masters in Hospitality Management from Cornell University’s Hotel School. She is President Emeritus of the Cornell Hotel Society NYC Chapter and was an Entrepreneur-in-Residence at Cornell University’s Leland C. and Mary M. Pillsbury Institute for Hospitality Entrepreneurship.

DOUG WEILLFOUNDER & CO‐MANAGING PARTNER, HODES WEILL & ASSOCIATES

Mr. Weill is responsible for the origination of new business, project management of client mandates and oversight of the operations of the firm. He is member of the firm’s Operating Committee and sits on the Investment Committee for Tunbridge Partners, an affiliate focused on investing in asset and fund management businesses. Mr. Weill has approximately 30 years of experience in the real estate industry as a consultant, advisor and investment banker, specializing since 2000 on the real estate investment and fund management industry. Mr. Weill has advised on institutional private placements for over 100 real estate private equity funds, raising in excess of $35 billion of capital. Previously, Mr. Weill was a Managing Director at Credit Suisse, based in New York. Mr. Weill joined Credit Suisse First Boston in November 2000 when the firm merged with Donaldson, Lufkin & Jenrette (DLJ). Mr. Weill co‐founded Credit Suisse’s Real Estate Private Fund Group (REPFG) in 2000 at DLJ. From 2000 through February 2009, Mr. Weill co‐led the business, with the responsibility for the strategic oversight and management of REPFG. Mr. Weill joined DLJ in 1997 from Paine Webber Incorporated where he was a Vice President in the Real Estate Investment Banking Group. Prior to this, he was with Kidder, Peabody & Co., which Paine Webber acquired in 1995. Prior to joining Kidder Peabody, Mr. Weill was with Kenneth Leventhal & Co., where he was a Senior Real Estate Consultant specializing in portfolio valuations, business and strategic planning, workouts and bankruptcies. Prior to Kenneth Leventhal & Co., Mr. Weill was an Associate at Hospitality Valuation Services, where he focused on hotel valuations and feasibility studies. Mr. Weill received a BS in Hotel Administration from Cornell University. Mr. Weill serves as a member of the Advisory Board of Cornell University’s Baker Program in Real Estate.

2019 INSTITUTIONAL REAL ESTATE ALLOCATIONS MONITOR

SPEAKER: Doug Weill*

CORNELL PRESENTATION

SPEAKER: Nikita Sarkar*

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JONATHAN GRAYPRESIDENT & CHIEF OPERATING OFFICER, BLACKSTONE

Jonathan (“Jon”) Gray is President and Chief Operating Officer of Blackstone, and is a member of Blackstone’s Board of Directors. He sits on its Management Committee and most of its investment committees, including serving as Chairman of the Real Estate group’s investment committee. Mr. Gray previously served as the firm’s Global Head of Real Estate, which he helped to build into the largest real estate platform in the world. He joined Blackstone in 1992. Mr. Gray currently serves as Chairman of the Board of Hilton Worldwide. Mr. Gray and his wife, Mindy, established the Basser Center for BRCA at the University of Pennsylvania School of Medicine focused on the prevention and treatment of BRCA related cancers. They also established NYC Kids RISE in partnership with the City of New York to accelerate college savings for low income children. Mr. Gray received a BS in Economics from the Wharton School, as well as a BA in English from the College of Arts and Sciences at the University of Pennsylvania.

KEVIN JACOBSCHIEF FINANCIAL OFFICER, HILTON

He oversees all of the company’s finance and real estate functions globally. He joined the company in 2008 as Senior Vice President, Corporate Strategy; was elected Treasurer in 2009; was appointed Executive Vice President & Chief of Staff in 2012; and assumed his current role in 2013.

Prior to Hilton, Kevin was Senior Vice President, Mergers & Acquisitions and Treasurer of Fairmont Raffles Hotels International. While in this role, he was responsible for sourcing, evaluating and executing on potential mergers, acquisitions or other strategic corporate transactions and leading the company’s corporate strategic and business planning efforts. As Treasurer, he oversaw the company’s corporate finance and treasury activities globally.

Kevin is a member of the Dean’s Advisory Board of the Cornell University School of Hotel Administration, a member of the American Hotel & Lodging Association’s Industry Real Estate Financing Advisory Council and Hospitality Investment Roundtable, a Trustee and member of the Executive Committee of the Federal City Council, and a Trustee of the Holton-Arms School. He also serves on the board of directors of Goodwill of Greater Washington, and is involved with several other charitable and civic organizations, including the Colorectal Cancer Alliance and the Trust for the National Mall.”

Kevin is a graduate of the Cornell University School of Hotel Administration.

BILL ACKMANCEO & FOUNDER, PERSHING SQUARE CAPITAL MANAGEMENT

William Ackman is the CEO and Portfolio Manager of Pershing Square Capital Management, L.P., an SEC registered investment adviser founded in 2003. Pershing Square is a concentrated research-intensive fundamental value investor in long and occasionally short investments in the public markets.

Prior to forming Pershing Square, Mr. Ackman co-founded Gotham Partners Management Co., LLC, an investment adviser that managed public and private equity hedge fund portfolios. Prior to Gotham Partners, Mr. Ackman began his career in real estate investment banking at Ackman Brothers & Singer, Inc. Mr. Ackman received an MBA from the Harvard Business School and a Bachelor of Arts magna cum laude from Harvard College.

Mr. Ackman is the Chairman of the board of The Howard Hughes Corporation (NYSE: HHC). He is a member of the Investors Advisory Committee on Financial Markets for the Federal Reserve Bank of New York, a Trustee of the Pershing Square Foundation, a member of the Board of Trustees at The Rockefeller University and a member of the Board of Dean’s Advisors of the Harvard Business School.

DOMINIC CHUSENIOR MARKETS CORRESPONDENT, CNBC

Dominic Chu is a senior markets correspondent for CNBC, located at the network’s Global Headquarters in Englewood Cliffs, N.J. He appears during CNBC’s Business Day programming and contributes to CNBC.com.

Previously, Chu was a New York-based markets correspondent for Bloomberg Television, where he covered the stock, bond, currency and commodities markets. During that time, he interviewed some of the world’s top money managers and business executives, and he also was part of the team that covered Hurricane Sandy and the Boston Marathon bombings. In addition, Chu handled sports business reporting for the network.

Chu brings extensive knowledge of the financial markets, having worked in sales and trading for UBS Investment Bank, mutual fund management for Hennessy Advisors and investment management for Seascape Capital.

He has spoken at numerous industry conferences and was a regular contributor to radio and television outlets across the country.

Chu holds a Bachelor of Science degree in hotel administration from Cornell University.

INDUSTRY LEADER AWARD

MODERATOR: Kevin Jacobs* HONOREE: Jonathan Gray

KEYNOTE SPEAKER

MODERATOR: Dominic Chu* SPEAKER: Bill Ackman

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SETH SINGERMANPRESIDENT & MANAGING PRINCIPAL, SINGERMAN REAL ESTATE

Seth Singerman is the President and Managing Principal of Singerman Real Estate, LLC (“SRE”), an opportunistic real estate investment firm that has deep experience executing complex transactions and unlocking embedded value through the ownership of properties, real estate loans and operating companies. SRE focuses on investments in both debt and equity across all major asset classes, including office, industrial, retail, hotel, and multifamily, in addition to secondary real estate asset classes such as senior and student housing. Mr. Singerman has led and sourced over $2.5 billion of investments.

In addition to his direct investment experience, Mr. Singerman has a public-private crossover background as he helped lead the formation and development of a long-short real estate securities hedge strategy and a past member of the NAREIT Investor Advisory Board.

Mr. Singerman is on the Advisory Board for the Center for Real Estate and Finance at Cornell University; the Board to the Real Estate Applied Security Analysis Program at the University of Wisconsin; and Next Generation Board Member of the United States Holocaust Museum. Mr. Singerman is Board Member of the Center for Real Estate and Finance, Cornell School of Hotel Management; Board Member of the Graaskamp Real Estate Program and the Real Estate Applied Security Analysis Program, University of Wisconsin – Madison School of Business; Board Member of the Next Generation Council to the United States Holocaust Museum.

MARK ALEXANDEREXECUTIVE VICE PRESIDENT, REDEVELOPMENT AND CONSTRUCTION,

ATRIA SENIOR LIVING

Mark Alexander is the Executive Vice President, Redevelopment and Construction for Atria Senior Living, Inc. and has been with the company since June 1998. Mr. Alexander is charged with creating and executing strategic business plans to reinvest, develop and redevelop communities with value added potential across the portfolio including a new joint venture with The Related Companies focused on urban gateway city senior living development.

Prior to his current role, Mr. Alexander was the Senior Vice President of Operations for Atria’s East Division with responsibility for 43 communities in nine states. Mr. Alexander began his career with Atria as Director of Finance and was quickly promoted to Vice President, Finance. In this role, he was responsible for real estate transactions, including acquisitions, divestitures and financing/refinancing. Mr. Alexander was also responsible for managing the company’s property and casualty insurance program, including the start-up of the company’s GL/PL captive insurance company. In addition, his past responsibilities have included oversight of budgeting, financial planning, forecasting and treasury/cash management functions.

Prior to joining Atria, from 1993 to 1998, Mr. Alexander was employed by Humana, Inc., a large national healthcare company, as manager of mergers, acquisitions and venture capital. He also served in various financial roles involved with acquisition due diligence and analysis, budgeting and forecasting with Home Care and Hospital Management, Inc., a start-up home health care management company.

Mr. Alexander graduated with an MBA/MHA from Georgia State University and a Bachelor of Arts from the University of Richmond.

PANEL 3: SILVER TSUNAMI

MODERATOR: Seth Singerman* PANELISTS: Mark Alexander, Billy Butcher, Guy Geller,* Adam Kaplan*


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BILLY BUTCHERCOO, REAL ESTATE, KKR

Billy Butcher (New York) joined KKR in 2004 and is the Chief Operating Officer of KKR’s global real estate business. Mr. Butcher serves on KKR’s real estate investment committees and leads the firm’s investments in real estate corporate platforms globally. Mr. Butcher previously co-led U.S. real estate acquisitions, and before helping to establish the firm’s dedicated real estate investment business in 2011, he worked in the Firm’s corporate private equity business in the U.S. and Asia. Prior to joining KKR, he was at Goldman, Sachs & Co. He holds an A.B., summa cum laude, from Princeton University, and an M.B.A. from the Stanford University Graduate School of Business, where he was the Henry Ford II Scholar and an Arjay Miller Scholar. Mr. Butcher is actively involved in a number of non-profit organizations and currently serves on the Board of Peer Forward, which is committed to enabling broader college access to U.S. high schoolers through positive peer influence.

GUY GELLERCOO, CPF LIVING COMMUNITIES

PRESIDENT, GRACE MANAGEMENT, INC.

Guy is currently serving dual roles as the COO and head of investments for CPF Living LLC (CPF) and the president of Grace Management, Inc. (Grace). CPF is a private equity firm overseeing two investment funds totaling $450M of investible equity for acquiring and developing senior housing and senior housing companies. Grace is a wholly owned subsidiary of CPF and currently oversees the operations of 59 senior housing communities nationwide. Guy has primary responsibility for fund level capital deployment, financing and other growth initiatives as well as fund management. As the president of Grace, Guy oversees all corporate functions and property level operations.

Prior to joining CPF/Grace, Guy held a position with DiNapoli Capital Partners, LLC as the Managing Director of Senior Housing. Prior to DiNapoli, Guy spent several years with Sunrise Senior Living, Inc. as the Managing Director of Sunrise in the United Kingdom where he was responsible for all property level operations, Sunrise UK administrative and organizational functions and finance related functions for a 27-asset portfolio. Past experiences include Brookdale Senior

Living as a Senior Director of Strategic Operations and Acquisition Associate, Senior Investment Analyst at Prudential Mortgage Capital Company and LaSalle Investment Management Company. Guy began his career working for Senior Lifestyle Corporation/Horizon Bay in operations, asset management and investments.

In addition to his role with CPF Living/Grace, in 2015 Guy developed and launched Innovative Aged Care (IAC), a UK based business focused on providing upscale, hospitality driven, small dementia care and nursing senior housing in high barrier to entry affluent urban markets. IAC currently operates a highly successful property in the London neighborhood of Chelsea with 3 more projects currently in the works also located in central London. Guy is a board member, chairman of the operations and investment committees.

Guy is a proud Cornell University Graduate and maintains affiliations with Alzheimer’s Association, Future Care Home Commission Group and the Alzheimer’s Society in the UK.

ADAM KAPLANFOUNDER & CEO, SOLERA SENIOR LIVING

Adam has a deep track record of excellence in finance, development, and strategic operations. In April 2016, Adam leveraged his 15 years of experience to launch Solera Senior Living, a next-generation senior living operations, development and investment company targeted at the luxury segment. As of Summer 2019, Solera’s portfolio consists of 9 properties/1,000-units under management or development with a total market capitalization in excess of $375 MM. At Solera, Adam identifies strategic growth opportunities, sets the vision for the operating model and program design, sources and structures capital relationships, evaluates innovative technologies and is responsible for building a highly engaging culture. Adam received his BA from Cornell University, School of Hotel and Restaurant Management, and his MBA from Northwestern University’s Kellogg School of Management. Adam credits the constant love from his wife and the commitment from his team for the success to-date in building Solera. Outside of work, Adam enjoys spending quality time with his wife and three kids, socializing with close friends, traveling, reading, skiing, golfing, and fitness.



MODERATOR: Seth Singerman* PANELISTS: Mark Alexander, Billy Butcher, Guy Geller,* Adam Kaplan*

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Wilton, CT Los Angeles, CAwww.westportcp.com

DIVERSIFIED OPPORTUNISTIC REAL ESTATE INVESTING As Real Estate investment specialists, Westport Capital Partner’s deep expertise, diverseexperience, strong partnership orientation and extensive relationship networks enable our team toidentify and capitalize on compelling risk-adjusted real estate value creation opportunities acrossa full spectrum of sectors, stages, strategies, instruments and geographies, as well as across allmarket, economic and asset cycles.

ALAN TANTLEFFSENIOR MANAGING DIRECTOR, FTI

Alan Tantleff is a Senior Managing Director and Leader of the Hospitality, Gaming & Leisure industry practice, specializing in real estate. Mr. Tantleff has more than 30 years of experience in lodging, gaming and real estate investment and development.

Mr. Tantleff applies his broad background and experience in hospitality to a wide variety of engagements, with a particular focus on strategy, business process improvement, IPO preparedness, investment banking and transactional support, litigation consulting, and workouts and financial restructurings. Mr. Tantleff has advised boards of directors, Chief Executive Officers, lenders, borrowers and other stakeholders on numerous high-profile hospitality matters.

Mr. Tantleff began his career at the Sands Casino Hotel in Atlantic City as the Senior Operations Analyst and has had senior management roles at The Prudential Insurance Company of America, Jones Lang LaSalle Hotels and BlackRock Financial Services.

Mr. Tantleff holds a B.S. in hotel management from Cornell University’s School of Hotel Administration and an M.S. in real estate investment and development from New York University. He is a Certified Turnaround Professional, a Certified Insolvency and Restructuring Advisor and a member of the International Society of Hospitality Consultants. He also serves on the Board of Directors of Cornell University’s Center for Real Estate Finance. Mr. Tantleff is a former representative and board member of the Cornell Alumni Federation, where he represented the School of Hotel Administration in university affairs.

BEN BERNSTEINCO-FOUNDER & PRINCIPAL, REDSKY CAPITAL

Ben Bernstein is Co-founder and Principal of RedSky Capital and RedSky Management, and President of RedSky Capital. As President of RedSky Capital, Ben oversees all investments made by RedSky and the execution of the investment strategy from the corporate to property level. Ben has over 10 years of experience and has led the acquisition, financing, repositioning and leasing of over $1.5 billion in real estate in both Brooklyn and South Florida. Ben has a BA in Government and Political Theory from Cornell University, is a member of the Cornell Real Estate Council and a member of the Associate Council of Prep for Prep.

Market Leading Real Estate Advisor and Placement Agent

New York+1 (212) 867-0888

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www.hodesweill.com • [email protected]

Placement Services offered through Hodes Weill Securities, LLC, member FINRA, SIPC

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PANEL 4: PLACEMAKING

MODERATOR: Alan Tantleff* PANELISTS: Ben Bernstein,* Adam Flatto, MaryAnne Gilmartin, Saul Scherl

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ADAM FLATTOPRESIDENT & CEO, THE GEORGETOWN COMPANY

Mr. Flatto is the President and Chief Executive Officer of The Georgetown Company, a privately-held real estate investment and development company based in New York City. In his 25+ years with Georgetown, Mr. Flatto has been involved with the development, acquisition and ownership of over 20 million square feet of commercial and residential real estate projects throughout the United States. These have included a wide array of projects ranging from large-scale office buildings, movie studios, retail shopping malls and sports arenas to hotels, apartment buildings, mixed-use master planned developments and others.

A native New Yorker, Mr. Flatto is a trustee and board member of several civic and cultural institutions. Mr. Flatto is Co-Chairman of the Board of the Park Avenue Armory in NYC, a leading center for contemporary arts showcasing dance, exhibition, theater and music programs, and has helped lead its on-going $200 million landmark renovation and repositioning. He also serves as Chairman of the Housing Committee of the board of Robin Hood Foundation, which addresses issues of affordable housing and homelessness in NYC.

Mr. Flatto is a trustee of The Wexner Center for the Arts in Columbus, OH, and of Works & Process based at the Guggenheim Museum in NYC. Mr. Flatto is a member of the board of the RAND Corporation Center for Global Risk and Security and has also served on the investment committee of the Brown University Real Estate Fund, as a trustee of Enterprise Community Partners, chairman of the board of Enterprise New York, board member of the International Center of Photography and of the Children’s Museum of Manhattan. In 2014, Mr. Flatto and his firm also completed on a pro-bono basis the $225 million development of three charter high schools in Brooklyn and the Bronx for over 2,500 students.

Mr. Flatto is a director of The Howard Hughes Corporation (NYSE: HHC) and a member of several real estate industry groups. Mr. Flatto received his BA magna cum laude from Brown University in 1985 with honors in Economics and received his MBA from the Wharton School (Univ. of Pennsylvania) in 1989.

MARYANNE GILMARTINCO-FOUNDER & CHIEF EXECUTIVE OFFICER, L&L MAG

MaryAnne Gilmartin is Co-Founder and Chief Executive Officer of L&L MAG, a New York-based real estate development company she founded with David Levinson and Robert Lapidus.

Prior to founding L&L MAG, MaryAnne served as President & CEO of Forest City Ratner Companies, where she oversaw a period of game-changing ground-up development and managed its multimillion square foot residential, commercial and retail portfolio.

In her tenure at Forest City Ratner, MaryAnne spearheaded the development of some of the most high-profile real estate projects in New York City. She led the efforts to build Barclays Center, the state-of-the-art sports and entertainment venue and the centerpiece of the $4.9 billion, 22-acre mixed-use Pacific Park Brooklyn development. MaryAnne oversaw the development of The New York Times Building, designed by world-renowned architect Renzo Piano; New York by Gehry, designed by award-winning architect Frank Gehry; and the Tata Innovation Center at Cornell Tech, a brand new office building that is a first-of-its-kind space for tech innovation, designed by Weiss/Manfredi on Roosevelt Island.

MaryAnne was appointed a member of the board of directors of the global investment banking firm Jefferies Group LLC in 2014. In 2019, she was appointed to the board of directors of Mack-Cali Realty Corporation, a publicly traded real estate investment trust.

MaryAnne is also a civic leader in New York, serving as Chair Emeritus of the Board of the Downtown Brooklyn Partnership, member of the Executive Committee of The Brooklyn Academy of Music, Vice Chair of New York Public Radio, member of the Executive Committee of The Real Estate Board of New York, and part of the Industry Advisory Board of the MS Real Estate Development Program at Columbia University.

Throughout her career, MaryAnne has been recognized as a top professional in her field and was honored in 2017 with the Real Estate Board of New York’s prestigious Bernard H. Mendik Lifetime Leadership Real Estate Award. She has made multiple appearances on Crain’s New York Business’s annual list of New York’s 50 Most Powerful Women and has also been ranked on the Commercial Observer’s Power 100 list each year since 2013.

MaryAnne graduated summa cum laude, Phi Beta Kappa from Fordham University, where she also completed her Master’s Degree. She started her career as a New York City Urban Fellow and worked at the Public Development Corporation.

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A proud sponsor of the 2019 Cornell Real Estate Conference

Criterion Real Estate Capital is a real estate private equity firm backed by institutional capital. Criterion invests in all parts of the capital structure (debt, preferred equity and common equity) and offers customized structures and innovative capital solutions to

partners and borrowers.

Chuck Rosenzweig, Managing Partner 212-259-0414, [email protected]

Adam Falk, Managing Director

212-259-0411, [email protected]

509 Madison Avenue, Suite 506 | New York, NY 10022 | 212-259-0418

Redsky Capital acquires, develops,owns and operates urban real estate

in Brooklyn and South Florida.redskycap.com

WARMESTCONGRATULATIONSThe RedSky Capital team acknowledgesand congratulates the Cornell Real Estate Council on another successful year!

NEW YORK | NEWARK | ISTANBUL

REAL ESTATE

One of the country’s largest and most accomplished commercial real estate

law practices since 1928

SAUL SCHERLPRESIDENT, NEW YORK TRI-STATE REGION,

HOWARD HUGHES CORPORATION

Saul Scherl joined The Howard Hughes Corporation in December 2015 as Executive Vice President responsible for overseeing the company’s New York Tri-State Region, which notably includes the Seaport District that is currently undergoing redevelopment. Effective January 1, 2018, Mr. Scherl was promoted to President, New York Tri-State Region.

Mr. Scherl has more than twenty years of retail, residential, hospitality and mixed-use real estate experience. Additionally, he is both a licensed attorney and CPA. Prior to joining The Howard Hughes Corporation, he was a Principal at Blackpoint Partners where he managed the company’s real estate assets as well as mergers and acquisitions. Previously, he served in a similar capacity at Loeb Partners Realty as the Managing Director and with Nomura Asset Capital, where he was responsible for liquidating the company’s multi-billion-dollar real estate portfolio. Earlier in his career, Mr. Scherl was with Piper Rudnick and Shaw Pittman as well as Arthur Young & Company. Throughout his career, he has been involved in a broad range of acquisitions, dispositions, redevelopments and financings for real estate properties across the U.S.

Mr. Scherl graduated from Emory University with a B.B.A. in Accounting and received his J.D. from The George Washington University.

Saul is married to Jodi Scherl and they reside in Englewood, New Jersey. They have three children, Hannah Scherl (21) a senior at Cornell University, Adinah Scherl (19) a sophmore at Cornell University and Jonah Scherl (16) a senior at Ramaz High School in New York City.

Mr. Scherl currently serves as the President of the Friends of the Israeli Defense Forces New Jersey Chapter as well as Co-Chair of Chabad of Puerto Rico where he directly managed the construction of the Chabad on the Island. Saul formerly served on the board of Camp Nejeda located in New Jersey, which is a summer camp for children and teens with type 1 diabetes.



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CLIFFORD CHANCE IS PROUD TO SPONSOR THE 37TH ANNUAL CORNELL REAL ESTATE CONFERENCE

WWW.CLIFFORDCHANCE.COM

FTI Consulting has extensive experience in making an impact on some of the world’s largest and most complex challenges and opportunities.

Every year, we help more than 5,800 organizations transform the way they anticipate and respond to events.

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©2019 FTI Consulting, Inc. All rights reserved.

FTI Consulting is proud to support the 37th Annual Cornell Real Estate Conference

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