Location: Convene, 530 5th Avenue, NYC 10036

 

8am: Breakfast ​

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8.50am: Welcome comments 

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9am: Emerging distress? Debt Portfolio Managers and the outlook for the next cycle

In a whole room conversation, debt portfolio managers and NAREIM members discuss the current state of the market and their loan books to answer the question of all cycles: Will there be distress at scale? How will future debt and equity opportunities shake out over the coming 12-18 months? How much timeline remains on the current downturn?

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• Speakers:

  • Teresa Zien, Managing Director, Invesco Real Estate

  • Kirloes Gerges, Managing Director, Portfolio Management, Principal Real Estate 

• Session leader: Jason Dean, Principal, Head of Real Estate Portfolio Optimization, Pennybacker Capital​​

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10am: Break

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10.15am: A focus on operations: Growth in partnership platforms 
As demand for JV programs and sector-specific deals increases among investors, how are real estate investment managers adapting their partnership programs? Does the future require increased customization, less discretion and less reliable fee streams? Potential questions will cover: Fee structures, gaining efficiency and scale, evaluating existing partnerships, how gaining scale in alternative property sectors.

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• Session leaders:

  • Kate Bassett, Director, Portfolio Management, Invesco Real Estate​

  • Scott Tavolacci, National Director, Yardi Systems​

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11am Break

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11.15am: SEC Private Fund Adviser Rules

The US Courts of Appeal is set to rule on the future of the SEC's Private Funds Rule on May 31. But what next for real estate investment managers? How are portfolio managers expected to incorporate SEC private fund rules into their capital raising, portfolio and investment strategies, if at all? What steps need to be taken today given uncertainty over the future of the regulations.

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• Speaker: 

  • Benay Kirk, Managing Director, Alter Domus

• Session leaders: 

  • Kate Davis, Managing Director, Portfolio Management, Harrison Street Real Estate Capital

  • Scott Dunphy, Portfolio Manager, MetLife Investment Management​​

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12pm: Networking Lunch

 

1pm: Embedding ESG into portfolio management and investment strategy 

Together with ESG leaders, NAREIM Portfolio Managers discuss how to best to integrate ESG strategies into portfolio construction and investment strategy. From environmental, decarb and/or Net Zero strategies, how should ESG resiliency strategies be integrated into asset and geographic selection and what are best practices for enhancing portfolio returns through ESG work.

 

• Speakers:

  • Scott Hirsch, Managing Director, MetLife Investment Management

  • Arielle Birenberg, Senior Vice President, Head of Portfolio Operations & Sustainability, Stockbridge Capital Group

• Session leader: Drew Stepanek, Senior Vice President and Portfolio Manager, Stockbridge Capital Group​

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1.45pm: Break

 

2pm: AI use cases: Speed round

How are real estate investment managers using AI today? Whole room Q&A with session leaders:

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• Session leaders:

  • Scott Dunphy, Portfolio Manager, MetLife Investment Management

  • Drew Stepanek, Senior Vice President and Portfolio Manager, Stockbridge Capital Group

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2.45pm: Break

 

3pm: How close is the end? A competitive analysis of valuations and returns

Taking a deep dive into valuation adjustments made by open and closed-ended funds in current cycle, NAREIM members ask one another: How close are we to being done for this cycle?

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Through a data presentation with MSCI and whole room Q&A, members will look to valuation trends and disposition activity in the open-ended fund world to understand the mechanisms being employed to reduce or eliminate investor redemption queues as well as acquisition and disposition strategies in closed-ended funds to answer how private CRE markets once again start trading. 

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• Speaker: Jim Costello, Executive Director, MSCI Research

• Session leaders: 

  • Larissa Belova, Portfolio Manager, U.S. Core Partners, CBRE Investment Management

  • Susan Kolasa, Managing Director, JPMorgan Asset Management​

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4pm: End of meeting

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Please note the agenda is subject to change at any time without notice. Changes are at the discretion of NAREIM. Please check back regularly for updates.

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