On June 7, 2018, California’s most prominent real estate leaders came together at the seventh annual Marcus & Millichap / IPA Multifamily Forum: Southern California in Los Angeles to address shared challenges and identify new opportunities in multifamily, condo and mixed use properties.
Main areas of focus this year were: urban and suburban rental, condo and mixed-use investment, development, finance and operations. More specifically, we discussed the national and regional economic outlook, changes in real estate capital markets, new development trends, emerging sub-markets, updated value-add strategies and what to do if Costa-Hawkins is overturned.
Industry leaders and experts from across California were in attendance, including Chris Meany, Partner, Wilson Meany; Victor MacFarlane, Chairman & CEO, MacFarlane Partners; Greg Pinkalla CEO & Chairman, Fairfield Residential; Sean Burton, CEO, CityView; Kevin Ratner, President of Forest City West and Percy Vaz, President of AMCAL.
Reasons to Attend
- New in 2018: Closed-door Interactive Roundtable discussions where peers engage with each other in a structured yet off-the-record environment.
- Get the answers to some of the markets most important questions from over 35 Senior level speakers.
- Join the only calendar event where all the major players attend year on year.
- Learn from the regions most active investors on what markets beyond LA’s core have a great opportunity for growth.
- Get the latest update on how the market is preparing for a potential over turn of Costa-Hawkins.
- Hear what’s really going on in the market during an exclusive keynote panel (California Leaders Panel).
Keynote Speakers
Chris Meany
Co-Founder and Managing Partner
Wilson Meany
Eleni Kounalakis
Candidate for Lt. Governor California
Former President AKT Development
California Leaders Panel
Sean Burton
CEO
CityView
Victor MacFarlane
Chariman & CEO
MacFarlane Partners
Greg Pinkalla
Chairman & CEO
Fairfield Residential
Kevin Ratner
President
Forest City
Percy Vaz
President
AMCAL
Featured Roundtable Participants
- J.J. Abraham, Division President California, Lennar Multifamily
- Jeff Allen, CEO Raintree Partners
- Jim Anderson, SVP, Trammell Crow Company
- Melisa Bartolucci Delgado, Vice President, Asset Management, Cityview
- Ben Beggs, Director of Sales, redIQ
- Marshall Boyd, President, Interstate Equities
- Greg Campbell, Senior Managing Director Investment, TruAmerica
- Cyrus Claffey, CEO, ButterflyMX
- Rachel Davidson, SVP of Performance, Alliance Residential
- John Eudy, Chief Investment Officer, Essex Property Trust
- Patti Girardi, Chief Marketing Officer, Valet Living
- Michael Gold, Senior Director, Asset Management TruAmerica
- Paulee Halloran, Vice President, Asset Management, Wood Partners
- Brian Hansen, Director, Wood Partners
- Mark Janda, Senior Vice President Development, Avalon Bay Communities
- Kevin Kaberna, Senior Managing Director Investment, Greystar
- Kacy Keys, SVP – Development Western US, Seritage Growth Properties
- Chris Meany, Partner, Wilson Meany
- Bill Montgomery, President Multifamily Investments, Sares-Regis Group
- Dan Nagel, Chief Financial Officer, Decron Properties
- Tim O’Brian, Senior Managing Director and Partner- Southern California, Legacy Partners
- Greg Pinkalla, Chairman & CEO, Fairfield Residential
- Edward Ratinoff, Managing Principal, James Investment Partners
- Jay Rey-Hipolito, Vice President Residential, Kilroy Realty Corporation
- Dean Rostovsky, Managing Director, Clarion Partners
- Mike Rovner, President, Rovner Construction
- Larry Scott, Senior Vice President – Development, Fairfield Residential
- Ryan Somers, President & CEO, Benedict Canyon Equities
- Chad Summers, VP Revenue, IOTAS
- Larry Taylor, CEO, Christina Development
- Josh Vasbinder, West Coast Partner, Dinerstein Companies
- Percy Vaz, CEO, AMCAL Housing
- Susan Vickery, Managing Director, Trammell Crow Residential
- Heather Wallace, Senior Vice President, Sares-Regis
- Tom Warren, President, Holland Partners
- Keith Wasserman, Partner, Gelt Inc
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- J.J. Abraham, Division President California, Lennar Multifamily
- Jeff Allen, CEO Raintree Partners
- Jim Anderson, SVP, Trammell Crow Company
- Melisa Bartolucci Delgado, Vice President, Asset Management, Cityview
- Ben Beggs, Director of Sales, redIQ
- Marshall Boyd, President, Interstate Equities
- Greg Campbell, Senior Managing Director Investment, TruAmerica
- Rachel Davidson, SVP of Performance, Alliance Residential
- John Eudy, Chief Investment Officer, Essex Property Trust
- Patti Girardi, Chief Marketing Officer, Valet Living
- Michael Gold, Senior Director, Asset Management TruAmerica
- Paulee Halloran, Vice President, Asset Management, Wood Partners
- Brian Hansen, Director, Wood Partners
- Mark Janda, Senior Vice President Development, Avalon Bay Communities
- Kevin Kaberna, Senior Managing Director Investment, Greystar
- Kacy Keys, SVP – Development Western US, Seritage Growth Properties
- Chris Meany, Partner, Wilson Meany
- Bill Montgomery, President Multifamily Investments, Sares-Regis Group
- Dan Nagel, Chief Financial Officer, Decron Properties
- Tim O’Brian, Senior Managing Director and Partner- Southern California, Legacy Partners
- Scé Pike, CEO & Founder, IOTAS
- Greg Pinkalla, Chairman & CEO, Fairfield Residential
- Edward Ratinoff, Managing Principal, James Investment Partners
- Jay Rey-Hipolito, Vice President Residential, Kilroy Realty Corporation
- Dean Rostovsky, Managing Director, Clarion Partners
- Mike Rovner, President, Rovner Construction
- Larry Scott, Senior Vice President – Development, Fairfield Residential
- Ryan Somers, President & CEO, Benedict Canyon Equities
- Larry Taylor, CEO, Christina Development
- Josh Vasbinder, West Coast Partner, Dinerstein Companies
- Percy Vaz, CEO, AMCAL Housing
- Susan Vickery, Managing Director, Trammell Crow Residential
- Heather Wallace, Senior Vice President, Sares-Regis
- Tom Warren, President, Holland Partners
- Keith Wasserman, Partner, Gelt Inc
Meet the Speakers
J.J. Abraham
Division President – California
Lennar Multifamily (LMC)
Jim Anderson
Senior Vice President
Trammell Crow Company
Marshall Boyd
President
Interstate Equities
Sean Burton
Chief Executive Officer
CityView
Ziv Cohen
President
The Resmark Companies
Rachel Davidson
SVP of Performance
Alliance Residential Company
Tony Ditteaux
President Construction
Trammell Crow Residential
Matthew Ellis
Chief Investment Officer
MWest Holdings
John Eudy
Chief Investment Officer
Essex Property Trust
Kevin Farrell
COO & President
Fifield Realty Corp.
Jerry Fink
Managing Partner
Bascom Group
Andrew Gross
Principal and President of the Development
Thomas Safran & Associates
Paulee Halloran
Vice President, Asset Management
Wood Partners
Matt Levy
Vice President of Investment
The Laramar Group
Mark Macedo
Managing Director & Chief Operating Officer
Hanover Financial
Victor MacFarlane
Chariman & CEO
MacFarlane Partners
Henry Manoucheri
Chairman and CEO
Universe Holdings
Bill Montgomery
President Multifamily Investments
Sares-Regis Group
Daniel Nagel
Chief Financial Officer
Decron Properties
Steven Oh
SVP Development
Related California Residential
Gregory Pinkalla
Chief Executive Officer
Fairfield Residential
Edward Ratinoff
Managing Principal
James Investment Partners
Kevin Ratner
President
Forest City Enterprises
Jay Rey-Hipolito
Vice President, Residential
Kilroy Realty Corporation
Ryan Somers
President & CEO
Benedict Canyon Equities
Percy Vaz
President
AMCAL
Sue Vickery
Managing Director, Asset Management
Trammell Crow Residential
Roger Vincent
Reporter
LA Times
Heather Wallace
Senior Vice President
SARES-REGIS Group
Steve Basham
Senior Market Analyst
CoStar Group
Adam Christofferson
Senior Vice President,
Division Manager
Marcus & Millichap
Cody Cannon
Regional Manager
Marcus & Millichap
Cyrus Claffey
CEO
ButterflyMX
Michael D’Onofrio
Managing Director
Engineered Tax Services
Richard Friedman
Managing Director
Greystar
Patti Girardi
Chief Marketing Officer
Valet Living
Olivia Gougler
Solutions Engineer
G5
William E. Hughes
Senior Vice President
Marcus & Millchap Capital Corporation
Will Nelson
SVP of Originations
Columbia Pacific Advisors
Scé Pike
CEO & Founder
IOTAS
Chris Robbins
Managing Director
CleanFund
James Rothstein
Co-Founder and Principal
Lone Oak Fund
Charles Schoenau
Managing Director
Insurent
John Sebree
FVP & National Director, Multifamily
Marcus & Millichap
Jon Spelke
Regional Managing Director
CleanFund
Ernesto Vasquez
Partner & CEO
SVA Architects
Damon Wyler
Regional Manager
Marcus & Millichap
Robert Younkin
Principal
PGIM
- AEW Capital Management
- Affirmed Housing
- Alliance Residential Company
- AMCAL Housing
- American Dream Fund
- Ares
- AvalonBay
Communities - Benedict Canyon Equities
- Berkshire Group
- Bridge Investment Group
- Bridge Partners
- Bueno Group
- Busto Family Trust
- Camden Property Trust
- Canfield Development
- Champion Real Estate Company
- Christina Development
- CityView
- Clarion Partners
- Cowley Real Estate Partners
- Decron Properties
- Dinerstein Companies
- Equidyne
Partners - Essex Property Trust
- Fairfield Residential
- Fifield Companies
- Forest City Enterprises
- FPA Multifamily
- Gelt Inc
- Gibraltar Investment Partners
- Greystar
- Hanover Financial
- Holland Partners
- IDS Real Estate Group
- Interstate Equities
- IOTAS
- JADE Enterprises
- James Investment Partners
- Kelton Capital
- Kemper Development Company
- Kilroy Realty
- LA Times
- Laramar Group
- Latco Enterprises
- Legacy Partners
- Lennar Multifamily
- Loboda Properties
- MacFarlane Partners
- MJW Investments
- MWest Holdings
- NNC Apartment Ventures
- Nu Urban Residential
- Oaktree Capital Management
- Pacific Life Insurance Company
- Pacific Urban Residential
- Partners Capital
- PGIM Real Estate
- Priya Living
- Pro Residential
- Raintree Partners
- Regency Centers
- Related California
- Resmark
- ReyLenn Properties
- Rovner Construction
- Sack Properties
- Sares-Regis
- Seritage Growth Properties
- Thomas Safran & Associates
- Trammell Crow Company
- Trammell Crow Residential
- Trifecta Holdings
- Trion Properties
- TruAmerica
- Universe Holdings
- USA Properties Fund
- Valet Living
- Veneto Capital Management
- Viceroy Investments
- VisionWise Capital
- Wilson Meany
- Wood Partners
Agenda
MORNING
Exhibit Hall & Dining Area
7:45am – 8:45am
Registration & Networking Breakfast Starts
Come early for the opportunity to enjoy breakfast and connect with fellow owners, investors, developers and financiers
General Session
8:45am – 8:50am
Opening Remarks
- Cody Cannon, Regional Manager, Ontario and Palm Springs, Marcus & Millichap
General Session
8:50am – 9:25am
Multifamily State of the Market: National vs. Southern California Markets
Learn how the Southern California multifamily markets compare to other key markets across the country. Get the latest data on apartment property construction, demand, supply, pricing and more.
Presented by:
- John Sebree, First Vice President & National Director, Multifamily, Marcus & Millichap
General Session
9:25am – 9:55am
Morning Keynote: Chris Meany, Partner, Wilson Meany
Come hear from Chris Meany, one of California’s most notable developers. His firm, Wilson Meany, is currently developing the two most massive projects in California: Treasure Island in San Francisco and Hollywood Park in Los Angeles. Hollywood Park boasts 3,000 residential units as well over 800,000 square feet of retail, office, hotel and – of course – the new Rams Stadium.
General Session
9:55am – 10:05am
The Secret to Improved Asset Value
Presented by:
- Olivia Gougler, Solutions Engineer, G5
General Session
10:10am – 10:55am
California Dreamin’: A Developer’s Guide to Southern California Opportunities
Getting new projects in Southern California off the ground has never been never an easy task. However, the situation has become significantly more difficult lately. While some development proceeds, others are finding new projects simply do not “pencil out” under current conditions. Countervailing forces–from a hot job market and increased demand on the one hand, to high seller prices, financing challenges and local government hurdles on the other–can create a head scratcher for many would be developers. What are some strategies that active developers are using to succeed in this challenging market?
- Sharpen Your Pencils: How active developers overcome the high cost of construction
- An Uneasy Relationship: Secrets to good relations with government agencies and communities
- LA’s Amazon: How to take advantage of the rapidly growing online content industry in Southern California
- Beyond Wilshire and Sunset: What markets in Southern California are ready for a building boom?
- Beyond the Obvious: Which underserved submarkets are ripe for new development
- Changing Conditions: New pitfalls to see and avoid in the current market
Moderator:
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- Adam Christofferson, Senior Vice President, District Manager, Marcus & Millichap
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Panelists:
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- Jim Anderson, SVP, Trammell Crow Company
- J.J. Abraham, Division President California, Lennar Multifamily
- Steven Oh, SVP Development, Related California Residential
- Kevin Farrell, President & COO, Fifield Companies
- Steve Basham, Senior Market Analyst, CoStar Group, Inc.
- Ernesto Vasquez, Partner & CEO, SVA Architects
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Exhibit Hall
10:55 – 11:25am
Networking Break
MIDDAY
Track A
11:25am – 12:10pm
The Art of the Stack: Perspectives from Active Capital Sources
With strong renter fundamentals and an excess of capital looking for deals, investment activity in Southern California remains highly competitive, perhaps too competitive. In this sellers’ market, with tightening credit terms, the gap between what lenders and LPs are willing to put in is growing again. The result is a rebirth in mezzanine financing and equity investors going to market as high interest lenders. With uncertainty around the future of rent control and perhaps the general economy itself, assessing risk in multifamily in the face of low cap rates is a daunting prospect. How does all of this play out when it comes to raising equity and debt capital for acquisitions, development and refinancing?
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- Bridging the Gap: What you need to know about bridge / mezzanine financing today
- In with the New: Who qualifies for PACE financing with no up-front, out-of-pocket costs
- Bread and Butter: Updates on refinancing for stabilized assets and Fannie Mae changes
- Swimming Upstream: Equity capital options today for acquisitions and development
- Bottom Line: In what ways is tax reform changing investment and financing decisions
- Switching Gears: When to lend your capital instead of deploying it as equity
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Moderator:
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- Bill Hughes, Senior Vice President, Marcus & Millichap
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Panelists:
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- Mark Macedo, Managing Director & Chief Operating Officer, Hanover Financial
- Will Nelson, SVP of Originations, Columbia Pacific Advisors
- Alexa Mizrahi, Director of Loan Origination, Lone Oak Fund, LLC
- Robert Younkin, Principal, PGIM Real Estate Finance
- Jon Spelke, Regional Managing Director, CleanFund
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Track B
11:25am – 12:10pm
Future Proofing: Innovations & Strategies in Construction & Design
Developers, construction managers, and architects are facing new challenges affecting how buildings are built and designed today. With rising costs, changing regulations, a tight labor market and challenging time & budget constraints, builders are forced to discover new ways to design and construct apartment buildings today. What are the key innovations and strategies being tested and deployed today?
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- Filling a Void: Making affordable work through smart design and construction choices
- Penny Wise: Design and management secrets for controlling costs
- Players Box: What equity investors can do to influence their projects
- 21st Century: New design elements and strategies to consider in your next project
- Firmware Update: What you need to know about new technology, including VR and AR
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Moderator:
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- Damon Wyler, Regional Manager, Long Beach and South Bay, Marcus & Millichap
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Panelists:
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- Andrew Gross, Principal and President of the Development, Thomas Safran & Associates
- Ziv Cohen, President, The Resmark Companies
- Matt Levy, Vice President of Investment, Laramar Group
- Tony Ditteaux, President Construction, Trammell Crow Residential
- Mark Janda, SVP, Avalon Bay
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Track A
12:15pm – 1:00pm
Finding Yield: Successful Strategies in Southern California’s Value Add Market
The term “value add” has become overused and abused, now representing everything from a property that simply needs a lick of paint, to highly risky opportunistic re-positionings of distressed real estate. However, with low yields on core stabilized assets as well as complex hurdles in new construction, value add investments are often the safest road to a healthy return on capital. Trouble is: everyone else knows this already. What strategies still work in an otherwise picked over marketplace?
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- Map Quest: How to identify emerging neighborhoods ripe for new investment
- 800 lb Gorillas: Successfully competing against larger players in a sellers’ market
- IRR vs ROI: Matching your fundraising strategy to your value add business plan
- Amenitized: Which kinds of upgrades have the greatest impact on rents
- Plan B: When re-positioning and use change makes the most sense
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Moderator:
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- Keith Wasserman, Chairman, Gelt
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Panelists:
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- Bill Montgomery, President Multifamily Investments, Sares-Regis Group
- Matt Ellis, Chief Investment Officer, MWest Holdings
- Jerry Fink, Managing Partner, Bascom Group
- Henry Manoucheri, Chairman and CEO, Universe Holdings
- Ryan Somers, President and CEO, Benedict Canyon Equities
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Track B
12:15pm – 1:00pm
Operator’s Handbook: Property Management Best Practices to Maximize NOI
In 2018, the supply of new units coming to market is putting pressure on rents in what was already a highly competitive marketplace. Going forward, improving cash flow and net operating income may become increasingly difficult without smart choices in technology, innovation and management. What strategies and tactics are smart managers deploying to shrink costs and boost revenue?
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- Hello, Dave: Which IoT technologies you should consider in your property
- OK, You Win: Best practices for deploying concessions at lease up
- Everything to Everyone: Creating a community that attracts Gen Z through Boomers
- Please Stay: Strategies for tenant retention and vacancy minimization
- Street Cred: Tools and tips to manage your online reputation
- Apartment 3.0: What smart home innovations will have the greatest impact on operators?
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Moderator:
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- Cody Cannon, Regional Manager, Ontario and Palm Springs, Marcus & Millichap
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Panelists:
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- Michael Gold, Senior Director, Asset Management, TruAmerica Multifamily, LLC
- Jay Rey-Hipolito, Vice President Residential, Kilroy Realty Corporation
- Heather Wallace, Senior Vice President, Sares-Regis
- Rachel Davidson, SVP of Performance, Alliance Residential Company
- Charles Schoenau, Managing Director, Insurent
- Richard Friedman, Managing Director, Greystar
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AFTERNOON
1:00pm – 1:45am
Networking Break
Lunch Workshop
1:10pm – 1:40pm
New Trump Administration Updates: Federal, State and Local Energy & Specialty Tax Incentives
The presentation is designed to provide New Trump Administration Updates to Federal, State and Local Energy & Specialty Tax Incentives and provide clarity to the design, qualification and certification process to maximize results and cost savings on Purchases, Renovations, Improvements and New Construction projects. During this presentation, you will be able to understand how to capture and best utilize Cost Segregation, Energy Tax Credits (like 179D for commercial buildings and 45L tax credits for residential and multi-family projects) on a local and national scale.
Presented by:
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- Michael D’Onofrio, Managing Director, Engineered Tax Services
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General Session
1:50pm – 2:35pm
From the Top: Real Estate Leaders discuss the Future of Southern California
When the state of real estate market generates more questions than answers, it is a perfect time to hear those leading the way. Join a special all-star gathering of Southern California’s most important real estate leaders as they discuss the state of the market and shed light on some of the region’s most important issues.
Moderator:
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- Roger Vincent, LA Times
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Panelists:
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- Kevin Ratner, President, Forest City Enterprises
- Sean Burton, CEO, CityView
- Greg Pinkalla, Chairman & CEO, Fairfield Residential
- Victor MacFarlane, Chairman & CEO, MacFarlane Partners
- Percy Vaz, President, AMCAL
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General Session
2:35pm – 3:05pm
Afternoon Keynote: Eleni Kounalakis, Candidate for Lt. Governor California, Former President AKT Development
Eleni Kounalakis was appointed by President Obama to serve as the United States Ambassador to Hungary from 2010 to 2013. She has served on the California First 5 Commission and the San Francisco Port Commission and led the California Advisory Council for International Trade and Investment. Prior to public service, she was president of AKT Development Corporation, one of California’s largest land development firms. She is also a Senior Advisor at Albright Stonebridge Group.
General Session
3:05pm – 3:10pm
Closing Remarks
Presented by:
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- Damon Wyler, Regional Manager – Long Beach and South Bay, Marcus & Millichap
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Post-Event Reception
Roundtables (New for 2018!)
Morning Closed-Door Investor Roundtable*
Led by Bob Hart President & CEO of TruAmerica Multifamily, this closed-door session brings together active investors to discuss shared challenges in multifamily investing today, with the goal of exploring ideas and solutions to those challenges.
Participants include:
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- John Eudy, Chief Investment Officer, Essex Property Trust
- Marshall Boyd, President, Interstate Equities
- Greg Pinkalla, Chairman & CEO, Fairfield Residential
- Al Pace, CEO, Pacific Urban
- Larry Taylor, CEO, Christina Development
- Edward Ratinoff, Managing Principal, James Investment Partners
- Jeff Alan, CEO, Raintree Partners
- Dan Negal, Chief Financial Officer, Decron Properties
- Ryan Somers, President & CEO, Benedict Canyon Equities
Breakfast for Builders: A Developers Closed-Door Roundtable*
This closed-door session brings together Southern California’s active multifamily developers and builders to discuss shared challenges in apartment development and construction today, with the goal of exploring ideas and solutions to those challenges.
Participants include:
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- Jim Anderson, SVP, Trammell Crow Residential
- Larry Scott, Senior Vice President Development, Fairfield Residential
- Ernesto Vasquez, Partner & CEO, SVA Architects
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What Tenants Want: A Closed-Door Roundtable for Operational Leaders*
This closed-door session brings together Southern California’s apartment managers to discuss shared challenges in multifamily management today, with the goal of exploring ideas and solutions to those challenges.
Participants thus far include:
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- Susan Vickery, Managing Director, Trammell Crow Residential
- Paulee Halloran, Vice President – Asset Management, Wood Partners
- Scé Pike, CEO & Founder, IOTAS
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*These curated sessions are comprised of select leaders. Real estate, public sector and business leaders join to share real challenges and solutions in a closed-door, off-the-record environment. Chaired by an industry veteran, each session will be tasked with addressing a short list of specific challenges. Each session is limited to a maximum of 30 participants. Please contact Scott Miliken at scott@greenpearlevents.com for further information.
Venue
If you need a hotel room for the event, please contact Kristen McBride at kmcbride@greenpearlevents.com.
Marcus & Millichap / IPA Multifamily Forum: Southern California
Thursday, June 7, 2018
7:30 AM – 3:30 PM
Venue:
The L.A. Grand Hotel Downtown
333 S Figueroa St,
Los Angeles, CA 90071
Google Map
Conference Chairs
Founded in 1971, Marcus & Millichap is a leading commercial real estate brokerage firm focusing exclusively on investment sales, financing, research, and advisory services, with more than 1,700 investment professionals in offices throughout the United States and Canada. The firm has perfected a powerful property marketing system that integrates broker specialization by property type and market area; comprehensive investment research; a long-standing culture of information sharing; relationships with the largest pool of qualified investors; and state-of-the-art technology matching buyers and sellers. In 2016, the firm closed 8,995 transactions with a sales volume of approximately $42.3 billion.
Institutional Property Advisors (IPA) is a unique platform created to support the needs of institutional and sophisticated private investors. IPA is centered around a select national network of institutionally qualified brokerage professionals and supported by a robust technology platform and highly regarded research. IPA’s unique combination of real estate investment expertise, industry-leading technology, superior support services and acclaimed research will offer customized solutions for the acquisition and disposition of institutional multifamily properties and portfolios.
Sponsors
Get Involved
Conference Production:
John Ward
(646) 755-3164
jward@greenpearlevents.com
Registration:
Claudia Gutwirth
(646) 862-6125
claudia@greenpearlevents.com
Sponsorship & Exhibiting
Amber Collins
(646) 783-3937
amber@greenpearlevents.com