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Fall Members' Meeting · Friday, November 2, 2018


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Philadelphia Museum of Art
2600 Benjamin Franklin Parkway
Philadelphia, PA 19130
Thursday, November 1, 2018
The Inn at Penn
3600 Sansom Street
Philadelphia, PA 19104
Friday, November 2, 2018
7:30-9:00 amExecutive Committee Meeting
(Thomas Webb Richards Room, Third Floor)


8:00-9:00 amRegistration, Networking Breakfast
(Regent/St. Marks Room; Library; Lobby Area)

Mentors meet with their student mentees, concurrently with the Executive Committee Meeting.

9:00-9:10 amWelcoming Remarks
(Woodlands Ballroom)

Matthew J. Lustig, Head of Investment Banking, North America; Head of Real Estate & Lodging, Lazard; Chair, Advisory Board, Zell/Lurie Real Estate Center at the Wharton School

9:10-9:30 amState of the Center Address
(Woodlands Ballroom)

Joe Gyourko, Nancy A. Nasher and David J. Haemisegger Director, Zell/Lurie Real Estate Center at the Wharton School

Susan Stutsman Sessa, Managing Director, Zell/Lurie Real Estate Center at the Wharton School

9:30-10:20 amFeatured Speaker: Owen Thomas, Chief Executive Officer, Boston Properties
(Woodlands Ballroom)

The State of the Office Market - Where we've been, where we are, and to where shall we go?

How has the office asset and business evolved and what is the state of the office market today? How will future cycles overlay secular changes? Will we see evolutionary changes or major shifts in the office sector ala retail in the future? What surprises could lie ahead?

10:20-10:40 amNetworking Break
10:40-11:45 amPanel 1: The Future of Office: A Deeper Dive into the Crystal Ball
(Woodlands Ballroom)

Have technology and other societal changes conspired to begin the disruption of the office sector? If so, how will these changes affect location, product, finance and the ways companies and buildings compete for tenants? Who will be the winners and losers? Or is talk of disruption just 'fake news'?

Moderator: Asuka Nakahara, Associate Director, Zell/Lurie Real Estate Center at the Wharton School 

Panelists: MaryAnne Gilmartin, Co-Founder and CEO, L&L MAG
James Groch, CFO and Global Director of Corporate Development, CBRE
Justin Stewart, President and Co-Founder, Industrious

11:45-1:15 pmComplimentary Networking Lunch at the Inn at Penn
1:15-1:30 pmTravel to Cohort Breakout Sessions
(Jon M. Huntsman Hall - 37th and Walnut Street)
1:30-2:30 pmCohort Breakout Sessions
Cohort A: Fast-Moving Vehicle & Mobility Ecosystems: How Much Disruption and How Soon?
(Jon M. Huntsman Hall, Room 250)

Leaders: Mitch Clarfield, Executive Managing Director, Newmark Knight Frank and Andy Isikoff,  Managing Director, The Silverfern Group

Speaker: John Paul MacDuffie, Professor of Management, the Wharton School, the University of Pennsylvania; Director, Program on Vehicle and Mobility Innovation, Mack Institute of Innovation Management, the University of Pennsylvania

Cohort B: The Business Value of Data Analytics
(Jon M. Huntsman Hall, Room 255)

Leader: Robert Bellinger, CFA, President, CEO & Executive Portfolio Manager, ASB Real Estate Investments

Speaker: Lorin Hitt, Zhang Jindong Professor of Operations, Information and Decisions at the Wharton School, the University of Pennsylvania

Cohort C: Facing the Challenge of Public Pensions
(Jon M. Huntsman Hall, Room 260)

Leaders: Denise Olsen, Senior Managing Director, GEM Realty Capital, Inc. and Carl Tash, Chief Strategist, Starwood Retail Partners

Speaker: Oliva S. Mitchell; International Foundation of Employee Benefit Plans Professor; Professor of Business Economics and Public Policy; Professor of Insurance and Risk Management; Executive Director, Pension Research Council, the Wharton School, the University of Pennsylvania

Cohort D: U.S. Foreign Policy and the Changing World Order
(Jon M. Huntsman Hall, Room 265)

Leaders: David Helfand, President and Chief Executive Officer, Equity Commonwealth and Andy Jonas, Managing Director, Goldman, Sachs & Co., LLC

Speaker: Brian McKeon, Senior Director, Penn Biden Center for Diplomacy & Global Engagement

Cohort E: Corporations and Tax Policy
(Jon M. Huntsman Hall, Room 270)

Leader: Cia Buckley Marakovits, CIO, Dune Real Estate Partners

Speaker: Michael Knoll, Theodore K. Warner Professor of Law; Professor of Real Estate, the Wharton School, the University of Pennsylvania

2:30-2:45 pmTravel Back to the Inn at Penn
2:45-3:45 pmPanel 2: What are your thoughts....?: Investing, risk adjusting, and fund raising strategies in a long cycle with massive disruption in the air.
(Woodlands Ballroom)

Hear leading investors and owners discuss how they think about investing, property operations and fund raising closer to the end that the beginning of a long boom. Is it easier or harder to raise funds now than it was in the past? How do you find and put together deals in a market where it is hard to do so? What have been the major changes in macro risk? What would you do over if you could and what do you think the real estate industry should wish for going forward?

Moderator: Ron Kravit, Co-Head of North American Real Estate, Managing Member, Cerberus Real Estate Capital Management, LLC; Senior Managing Director, Cerberus Capital Management, L.P.; Vice Chair, Advisory Board, Zell/Lurie Real Estate Center at the Wharton School

Panelists: Matt Bronfman, Chief Executive Officer, Jamestown, L.P.
Adam Gallistel, Regional Head, Americas Real Estate/ Managing Director, GIC Real Estate, Inc.
Adam R. Schwartz, Co-Chief Investment Officer, Head of Real Estate, Angelo Gordon 

3:45-4:00 pmClosing Comments
(Woodlands Ballroom)

Matthew J. Lustig

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