Fall Members' Meeting
Friday, October 5, 2012Ambani Auditorium, Jon M. Huntsman Hall, The Wharton School, University of Pennsylvania, 3730 Walnut Street, Philadelphia
8 - 9 a.m.
Registration, Members' Continental Breakfast
(MBA Lounge, 2nd Floor, Jon M. Huntsman Hall)
8 – 8:45 a.m.
Mentors meet with students, concurrent
9 – 9:10 a.m.
Welcoming Remarks
(Ambani Auditorium, Room G06, Jon M. Huntsman Hall)
Robert C. Lieber, Executive Managing Director, Island Capital Group and
Chairman, Zell/Lurie Real Estate Center at The Wharton School
9:10 – 9:30 a.m.
“State of the Center”
Joseph Gyourko, Martin Bucksbaum Professor of Real Estate, Finance and Business and Public Policy, and Director, Zell/Lurie Real Estate Center at The Wharton School
Asuka Nakahara, Associate Director, Zell-Lurie Real Estate Center at The Wharton School
9:30 – 10:40 a.m.
Owner-Occupied Housing: Is the Recovery Real?
Every day brings headlines of the housing market’s recovery. Has the housing market bottomed out? If not, when will it? What will the recovery look like? How will the new rent-to-own ‘business,’ consumer confidence, credit availability, the large foreclosure pipeline and sea of underwater mortgages affect housing prices? Is now the time to buy that dream house? The dream vacation house? Invest in those that build those units?
Moderator: Asuka Nakahara, Associate Director, Zell/Lurie Real Estate Center at The Wharton School
Panelists: Franklin Codel, Executive Vice President, Head of Mortgage Production, Wells Fargo Home Mortgage
Fernando Ferreira, Associate Professor of Real Estate, The Wharton School
Richard Saltzman, President, Colony Capital
Douglas C. Yearley, Jr., Chief Executive Officer and Director, Toll Brothers
10:40 – 11:00 a.m.
BREAK
11 a.m. – 12:10 p.m.
Implications of Economic Change and Uncertainty for Real Estate Investing: The View from the CIO’s Office
(Ambani Auditorium, Room G06, Jon M. Huntsman Hall)
This session will investigate how the nature of institutional investing is being affected by increasingly volatile and uncertain economic and political environments, domestically and globally. We will then discuss what this means for real estate. What are the key characteristics desired by those in charge of placing institutional capital? Hear from and interact with leading public and private institutional investors.
Moderator: Joe Gyourko, Zell/Lurie Center
Panelists: David C. Cooper, Chief Investment Officer, Indiana Public Retirement System
Charles F. Lowrey, Executive Vice President and Chief Operating Officer, U.S. Businesses, Prudential Financial
Todd Petzel, Chief Investment Officer, Offit Capital
12:10 – 1:30 p.m.
LUNCH
(The Thomas P. Gerrity Colloquium Floor, 8th Floor, Jon M. Huntsman Hall)
1:30 – 2:20 p.m.
Farash Distinguished Lecture
Nate Silver, Political polling analyst for the New York Times and
FiveThirtyEight.com
“Predicting the November Elections”
(Ambani Auditorium, Room G06, Jon M. Huntsman Hall)
2:20 – 2:35 p.m.
BREAK
2:35 – 3:40 p.m.
Real Estate Capital Flows and Challenges
(Ambani Auditorium, Room G06, Jon M. Huntsman Hall) Where is today’s capital coming from for real estate, and what do investors expect from real estate in today’s low rate environment? What happens when rates rise to real estate capital flows? And do problems outside of the United States help or hinder U.S. real estate in the eyes of investors?
Moderator: Peter Linneman, Sussman Professor Emeritus of Real Estate, The Wharton School
Panelists: Jack Chandler, Managing Director, Global Head of Real Estate, BlackRock
Joanne Douvas, Managing Director, Founding Principal, Clerestory Capital Partners
D. Michael Van Konynenburg, President, Eastdil Secured
3:40 p.m.
Closing Comments
Robert C. Lieber, Executive Managing Director, Island Capital Group and
Chairman, Zell/Lurie Real Estate Center at The Wharton School
