General Session: Real Estate Capital Outlook and Investor Response

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In these unprecedented times, with markets and governments acting and reacting in unprecedented fashion, this session is perfectly timed to offer understanding of the capital markets and the economic issues affecting the real estate industry. This session will explore the state of the markets, and how multiple factors and recent key decisions could influence the state of the economy and the real estate climate for years to come.

Douglas Poutasse, Executive Director of the National Council of Real Estate Investment Fiduciaries, joins London-based Christopher Jonas, CRE, to provide a riveting expose of real estate in the early 21st century.

Jill Hatton, CRE, will moderate the session.

General Session: The Great Forecasting Question: What Lies Ahead and Where Do We Go From Here?

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Ray Torto, CRE, Global Chief Economist, CB Richard Ellis, will address the current economic situation and how it will continue to affect the real estate sectors in the U.S. in 2009 and beyond. As a widely published authority on market research analysis, economic forecasting, investment strategy and investment management, he will present the facts and statistics and explain opportunities that lie ahead for CREs who understand the factors affecting industry decline and growth patterns and their effect on the global economy.

Panelists including Marc Louargand, CRE, Principal, Saltash Partners LLC, will join in the discussion—and debate.

Business Issues Forum:
Litigation Services

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This two-part session will help Counselors increase effectiveness as expert witnesses. A member of the FTI Forensic and Litigation Consulting Segment, will provide information about the nuances of behavior and body language in a trial, with demonstrations. George Powell, Esq., CRE, Attorney, Duane Morris LLP, will also conduct a mock deposition of Jerry Zaddack, CRE, on a complex real estate matter that was actually litigated. There will be lively interaction among presenters and Forum attendees.

Deborah Haskell, CRE and Bob McKennon, CRE, Forum Chairs

Business Issues Forum:
Capital Markets

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John Hynes, III, CRE, CEO and Managing Partner of Gale International, and one of Boston’s top developers will discuss funding and how they obtained the capital needed for a major mixed-use development. Additional time is scheduled for discussion and debate about capital markets topics that were presented in earlier sessions. The Forum will end with an off-site tour of the One Franklin property.

Julie McIntosh, CRE and Harris Collins, CRE, Forum Chairs

Business Issues Forum:
Sustainability

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David Wood, director, The Institute for Responsible Investment at Boston College Center for Corporate Citizenship, will discuss the recent Olmsted Green project. This 42-acre development in the heart of Boston is one of the newest and most popular “green” developments. The session features a presentation and a tour of the 287-unit project.

Theddi Wright Chappell, CRE and Brent Palmer, CRE, Forum Chairs

General Session: What Really Happened in the Subprime Market and Have We Fixed the Right Things?

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This session promises to be a uniquely candid one -- an examination of the state of the industry, and the factors leading up to the credit crisis and resulting market turmoil. Hugh Kelly, CRE, Economist and Chair of the CRE Ethics Committee, will moderate a discussion that examines decision-making responsibilities, risk evaluation and mitigation, moral hazard and the ramifications of the risk-shifting/risk-sharing structures in real estate finance.

How did the situation get so out of hand? How do we get out of this mess, and what is the tradeoff between letting faulty decision-makers bear the consequences of risky behavior and the resulting “collateral damage” in the economy from extended dislocations in the financial markets? What are the lessons learned and principles to guide Counselors in advising clients going forward?

This will be a dynamic session featuring facts, analysis and frank dialogue from Charles Citro, CRE, Vice President, Chief Credit Officer, Goldman Sachs, Neil Madson, CRE, Senior Vice President, Head of Private Equity, Aegon USA Realty Advisors, Inc., Tim Riddiough, CRE, Ph.D., Professor, E.J. Plesko Chair, Graaskamp Center Director, University of Wisconsin and Martha Peyton, CRE, Managing Director, TIAA-CREF.

Ten Commandments for
21st Century Real Estate Finance

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by Hugh Kelly, CRE

Buffet Breakfast and Real Estate Roundtable: National Policy Challenges for Real Estate

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With the U.S. presidential election imminent, questions abound regarding the effect this election will have on the economy (both in the U.S. and globally), the capital markets, and the real estate industry as a whole. Regardless of your politics, this breakfast program promises to be lively and informative.

Clifton E. (Chip) Rodgers, Jr., Senior Vice President at the Washington, D.C.- based Real Estate Roundtable, will give his perspectives and will predict changes and outcomes just two days before ballots are cast on November 4th.

Rodgers has been at the center of every major piece of financial services legislation and regulatory action for over a decade, successfully representing real estate’s stake in the national policy arena on financial services issues. He has experience in capital markets, real estate investment banking, work-outs and debt restructuring activities at major companies including Mellon Bank, Fannie Mae and The First Boston Corporation. He is currently focused on the credit crisis and on implementing national policy measures to restore liquidity, mitigate market tension and safeguard systemic stability.