Annual Columbia Real Estate Forum

Higher Rates and Impending Loan Rollovers Create Significant Stress, for Both Borrowers and Lenders – And Then There Is the Office Loan Book

Discussion Openers: Jon Brayshaw, Co-Founder, Partner, Prime Finance; Adam Gallistel '04, Head of Americas, Real Estate, GIC; William Rahm, Senior Managing Director, Centerbridge Partners
Moderator: Ronald Kravit, Senior Managing Director, Cerberus Capital Management

Examining Residential Property: Making Sense of the Disconnect Between Single Family Housing and Multi-Family Properties and the Impact On the Future

Fundamentals and Valuation

Discussion Openers: Conor Flynn MSRED '07, CEO, Kimco Realty; Harrison LeFrak '98, Vice Chairman, LeFrak; Tony Malkin, Chairman, President, CEO, Empire State Realty Trust; Hilary Spann, EVP, New York Region, BXP
Moderator: Daniel Neidich, Founder and CEO, Dune Real Estate Partners

Real Estate Debt Markets

Discussion Openers: Daniel Heflin, Partner, Co-CEO and Co-CIO, Torchlight Investors; Matt Salem, Partner, Head of Real Estate Credit, KKR; Andrew Sossen, COO, Starwood Property Trust
Moderator: Ronald Kravit, Senior Managing Director, Cerberus Capital Management

Short Take: Inflation and Real Estate Values

Discussion Openers: Christopher Mayer, Paul Milstein Professor of Real Estate; Co-Director, Paul Milstein Center for Real Estate, Columbia Business School

Revenue Drives in the Current Market

Discussion Openers: Sabine Stener, CEO, Gaedeke Group; Ken Bernstein, President and CEO, Acadia Realty Trust; Hugh Frater '85, CEO, Fannie Mae
Moderator: David Sherman '82, Senior Advisor and Co-Founder; BGO Strategic Capital Partners; Co-Director, Paul Milstein Center for Real Estate

Development in 2022

Discussion Openers: Daniel Neidich, CEO, Dune Real Estate Partners; Hilary Spann, Executive Vice President, Boston Properties; Amy Rose, President and CEO, Rose Associates
Moderator: Christopher Mayer, Paul Milstein Professor of Real Estate; Co-Director, Paul Milstein Center for Real Estate, Columbia Business School

Current State of the Real Estate Debt Markets (January 2021)

Discussion Openers: Dan Heflin, CEO and Chief Investment Officer, Torchlight Investors; Richard Mack, CEO and Co-Founder, Mack Real Estate Group; Karen McShane, Managing Director, Wells Fargo; Steve Plavin, Senior Managing Director of Debt Strategies Group and CEO, Blackstone Mortgage Trust, Blackstone
Moderator: Hugh Frater, CEO, Fannie Mae

Investment Opportunities and Risks (March 2021)

Discussion Openers: Sonny Kalsi, CEO, BentallGreenOak; Kim Lew, CEO, Columbia Investment Management Company; Sabine Stener, CEO, Gaedeke Group

The Impact That Coronavirus is Having on the Markets and Real Estate. How Are People Changing Their Investment Behavior During This Time? (March 2020)

Capital Markets and Private Equity Updates (September 2020)

Discussion Openers: Tom Flexner, Global Head of Real Estate, Citigroup; Ken Caplan, Global Co-Head of Real Estate, Blackstone

Future of Offices and Cities (October 2020)

Discussion Openers: Scott Rechler, Chairman & CEO, RXR Realty; Sabine Stener, CEO, Gaedeke Group; Owen Thomas, CEO, Boston Properties
Moderator: Paul Pariser '78, Co-Founder & Co-CEO, Taconic Partners

Macroeconomics in Real Estate – Growth, Are Rents Going Up or Down? Is NOI Rising or Falling? Are Interest Rates and Cap Rates Going Up and What Does That Mean for Valuations?

Discussion Openers: Keith Breslauer, Managing Director and Senior Partner, Patron Capital Partners; Kenneth Caplan, Global Co-Head of Real Estate, Blackstone; Conor Flynn MSRED '07, Chief Executive Officer, Kimco Realty
Moderator: Thomas Flexner, Global Head of Real Estate and Vice Chairman of Institutional Clients Group, Citigroup
 

How Millennials are Living and Working

Discussion Openers: Paul Pariser '78, Co-CEO, Taconic Investment Partners; Scott Rechler, Chairman and CEO, RXR Realty; Amy Rose, President and CEO, Rose Associates
Moderator: Daniel Neidich, CEO, Partner and Member of the Investment Committee, Dune Real Estate Partners

To What Extent Has the Disruption in Patterns of Office Use Had a Material Effect on Office Investment?

Discussion Openers: John F. Powers, Executive Vice President, New York Region, Boston Properties; Scott Rechler, Chief Executive Officer & Chairman, RXR Realty; Lance N. West, Retired Chairman & CEO, Centerbridge Partners Europe
Moderator: Matthew J. Lustig, Head of Investment Banking, North America; Head of Real Estate & Lodging, Lazard

Has There Been a Broad Slow-Down in Property Trading Volume, and If So, Does it Signal the Beginning of a Correction?

Discussion Openers: Dean S. Adler, Chief Executive Officer & Co-Founder, Lubert-Adler Partners; Thomas M. Flexner, Global Head of Real Estate & Vice Chairman of Institutional Clients Group, Citigroup; Conor C. Flynn, Chief Executive Officer, Kimco Realty Corporation
Moderator: Daniel Neidich, Chief Executive Officer, Dune Real Estate Partners

The New American Economy and the Impact of Political Change and Tax Reform on Real Estate Investing

Discussion Openers: Steven Roth, Chairman and CEO, Vornado Realty Trust, and Sam Zell, Founder, Chairman, Equity Group Investments
Moderator: Daniel Neidich, CEO, Dune Real Estate Partners

What Will Real Estate Returns Look Like in the New Economy? What Is to Be Expected in the Next 10 Years?

Discussion Openers: Spencer B. Haber, Chairman and CEO, H/2 Capital Partners, Ronald J. Kravit, Co-Head of U.S. Real Estate Investing, Managing Member of Cerberus Real Estate Capital Management, and Senior Managing Director, Cerberus Capital Management, and Eric Lang, Senior Managing Director, Private Markets, Teacher Retirement System of Texas
Moderator: Matthew J. Lustig, Head of Investment Banking, North America; Head of Real Estate and Lodging, Lazard

Divergent: Will the World's Economies Converge (Again) or Stay Asynchronous?

Discussion Openers: Jonathan Gray, Global Head of Real Estate, Blackstone, and Lance West, CEO, Centerbridge Partners, Europe
Moderator: Tom Flexner, Global Head of Real Estate, Citigroup

Can it Last? Goldilocks vs. The Black Swan

Discussion Openers: Howard Milstein, Chairman, President, and Chief Executive Officer, New York Private Bank & Trust and Milstein Properties, and Sam Zell, Chairman, Equity Group Investments
Moderator: Matt Lustig, Managing Partner of North America Investment Banking; Head of Real Estate, Gaming & Lodging, Lazard

Real Estate Equity 2015-2025: Who's Driving the Bus?

Discussion Openers: Ngee Huat Seek and Barry S. Sternlicht
Moderator: Richard B. Saltzman, President, Colony Capital

New York City 2015-2025: Enough of an Economic Foundation?

Discussion Opener: Alicia Glen
Moderator: Lynne B. Sagalyn, Earle W. Kazis and Benjamin Schore Professor of Real Estate, Director, MBA Real Estate Program, Founding Director, Paul Milstein Center for Real Estate, Columbia Business School

After Re-Emerging 20 Years Ago, What's Next in Real Estate Public Securities?

Discussion Openers: Jonathan Gray and Sam Zell
Moderator: Marty Cicco, CC '78, Senior Managing Director and Head of Real Estate, Evercore Partners

Are the Shifting Forces of Office Demand Creative Disruption?

Discussion Openers: Robert K. Steel, Adam Neumann, and Adam Lutz
Moderator: Charlie Bendit, Co-Chief Executive Officer, Taconic Investment Partners

U.S. Inflections in the Economy: Jobs

Discussion Leaders: Carl T. Camden and Richard B. Saltzman
Moderator: J. Allen Smith, CEO, Prudential Real Estate Investors

U.S. Inflections in the Economy: Taxes, Deficits and Growth

Discussion Leaders: Roger C. Altman and Steven Roth
Moderator: Matthew J. Lustig, Managing Partner of North America Investment Banking and Head of Real Estate, Lazard Frères & Co.

The Enduring Real Estate Question: Where is Credit Going to Come From?

Discussion Openers: Spencer B. Haber and Christopher J. Mayer
Moderator: Thomas M. Flexner, Global Head of Real Estate, Citigroup

Reading the Tea Leaves of Real Estate Equity Markets: Are the Dynamics Shifting?

Discussion Openers: Jonathan D. Gray and David B. Henry
Moderator: Barry S. Sternlicht, Chairman and CEO, Starwood Capital Group

The New Era of Financial Regulation: What Will It Mean for the Economy?

Discussion Openers: Thomas M. Flexner and Howard P. Milstein
Moderator: Christopher J. Mayer, Senior Vice Dean and Paul Milstein Professor of Real Estate, Columbia Business School

The Economy and Washington, D.C.: A Discussion with Alan Murray, Deputy Managing Editor and Executive Editor, The Wall Street Journal

Discussion Leaders: Daniel M. Neidich and Sam Zell

The Public Market: Will it Lead the Way in Recapitalizing Real Estate?

Discussion Leaders: David E. Simon '85 and Steven Roth
Moderator: Peter E. Baccile, Vice Chairman of Investment Banking, J.P. Morgan

The Private Market: Coping at its Own Pace or Pushed by the Public Market?

Discussion Leaders: Dean Adler and Andrew L. Farkas
Moderator: Jonathan D. Gray, Senior Managing Director & Co-Head of Real Estate, The Blackstone Group

Uncertainty, Liquidity Premiums, and Other Macro-level Forces on Credit Markets

Discussion Leaders: Daniele D. Bodini '72 and Steven Roth
Moderator: Thomas M. Flexner, Global Head of Real Estate, Citigroup

Capital, Cap Rates, and Micro-Level Impacts on Real Estate

Discussion Leaders: Barry S. Sternlicht and David E. Simon '85
Moderator: Richard B. Saltzman, President, Colony Capital

Current and Long-Term Impacts of Changes in Credit Markets

Discussion Leaders: Charles Lowrey and Howard P. Milstein
Moderator: Christopher J. Mayer, Paul Milstein Professor of Real Estate, Director, Paul Milstein Center for Real Estate, Columbia Business School

Fund Flows, Risks, and Future Returns for Equity Investments in Global Real Estate

Discussion Leaders: Jonathan D. Gray and Daniel M. Neidich
Moderator: Raymond Mikulich, Managing Partner, Ridgeline Capital Group

Debt Markets and Real Estate Valuations

Discussion Leaders: Jay Nydick '90 and Wes Edens
Moderator: Thomas M. Flexner, Vice Chairman, Investment Banking, Bear Stearns & Co.

What Is the Future of the Real Estate Industry? Growth Opportunities in Real Estate

Discussion Leaders: Professor Christopher J. Mayer, Bernard Winograd and Sam Zell
Moderator: Raymond Mikulich, Managing Director, Lehman Brothers

Public-Private Values and the Future of REITs

Discussion Leaders: Stephen J. Furnary, Jonathan D. Gray, and Sam Zell
Moderator: Thomas M. Flexner, Vice Chairman, Investment Banking, Bear Stearns & Co.

Global Real Estate Opportunities and China

Discussion Leaders: Jay H. Mantz, Thomas Saylak, and Jerry I. Speyer '64
Moderator: Martin L. Edelman, Law '66, Of Counsel, Paul, Hastings, Janofsky & Walker

Hedge Funds: From the Outside Looking In at Real Estate

Discussion Leaders: Duke Buchan and John C. Phelan
Moderator: Daniel M. Neidich, Co-Chief Executive Officer, Dune Capital Management

Housing Markets

Discussion Leaders: J. Ronald Terwilliger, Robert I. Toll, and Professor Chris J. Mayer
Moderator: Bernard Winograd, President & CEO, Prudential Investment Management

Securitization and Fannie Mae/Freddie Mac

Discussion Leaders: Dwight Jaffee and William Poole '84
Moderator: Christopher J. Mayer, Paul Milstein Professor of Real Estate, Columbia Business School

Globalization (Outsourcing) and the Demand for Real Estate in the 21st Century

Discussion Leaders: Vivek Agrawal, Nicholas Laird, and David Neuwirth '83
Moderator: John R. Klopp, Chief Executive Officer, Capital Trust

Managing in Uncertain Times

Discussion Leaders: Thomas E. Dobrowski, Stephen M. Ross, and Sam Zell
Moderator: Owen Thomas, Managing Director, Morgan Stanley

Cross-Atlantic Views of Global Investment Opportunity

Discussion Leaders: Jean Jacques Dayries, Richard Georgi, and Thomas Hoeller
Moderator: Daniel M. Neidich, Managing Director, Goldman, Sachs & Co.

Reversion to the Mean Asset Return: What Are the Implications for Real Estate?

Discussion Leaders: Thomas E. Dobrowski, Daniel M. Neidich, and Bernard Winograd

The Role and Future of Lower Manhattan

Discussion Leaders: John Whitehead and Daniel Doctoroff

Assessing Near-Term Capital Channels

Discussion Leaders: Peter E. Baccile, Martin J. Cicco, CC '78, and Owen Thomas

Equilibrium or Clouds Ahead: What's in the Demand Picture?

Discussion Leaders: M. Leanne Lachman and Sam Zell

Technology and Real Estate: E-Business Models

Discussion Leaders: Andrew L. Farkas, W. Alfred Apps, and Robert S. Taubman

Technology and Real Estate: Business Transformations

Discussion Leaders: Sam Zell, Scott Rechler, and Daniel M. Neidich

Is Real Estate Real in Today's Stock Market?

Discussion Leaders: Seth M. Glickenhaus and James P. Hoffmann

Public and Private Responses

Discussion Leaders: Daniel M. Neidich, Thomas J. Saylak, and Barry S. Sternlicht

Beyond Assets: The Role of the Company in Creating Value

Discussion Leaders: Andrew L. Farkas and Stephen M. Ross

Consolidation Revisited and Other Transaction Issues

Discussion Leaders: Craig M. Hatkoff and Professor Meyer Feldberg '65

Consolidation in the Real Estate Industry: Big vs. Strategic — What Is the Trend About?

Discussion Leaders: Joseph F. Azrack '72, Barry S. Sternlicht, and Sam Zell

Business Leadership in the International Arena

Discussion Leaders: Leon Bressler and Robert A. McCormack