| Multifamily real estate is on the rise. The combination of increased multifamily-housing starts, a rise in building permits, declining rates of new home ownership, continued high-levels of foreclosures, and a generation of young adults choosing to rent rather than buy has led to low vacancy rates and an increased average monthly rent. Understanding this dynamic real estate market has never been more important.
- What is the current state of the national and Philadelphia multifamily markets?
- Which national markets have held up the best in the economic downturn?
- How will residential projects fare in the coming year?
- With respect to construction lending, perm financing, and equity partners, have things normalized? Is there a new normal?
- Will capital loosen up?
- Where will the buying opportunities be and how will these deals be structured?
- Will there be support from Federal Government spending?
- What will the fate be of GSEs this year, and how will it affect the multifamily market?
Wednesday, October 26, 2011
Hyatt at The Bellevue
200 South Broad Street, Philadelphia, Pennsylvania 19102
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| | 7:00 AM – 8:00 AM | Breakfast & Schmooze | | 8:00 AM – 9:30 AM | All-Star Panels | | 9:30 AM – 10:00 AM | Post-Game Schmooze |
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Or email advertising@bisnow.com
Price $44
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|  | Howard Grossman
COO
AllState Management Corp.
| Howard leads all management and investment activities. Previously he served as CIO, heading acquisitions, equity and debt financings and dispositions. Immediately prior to his arrival he served as Director of Acquisitions for a regional multifamily owner and operator where he led the acquisition and financing of a 6,000 unit national multifamily portfolio. Previously, Howard practiced law for 25 years during which he represented sophisticated investors in a broad range of real estate transactions including acquisitions, dispositions, joint ventures and equity and debt financings.
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| John Korman
CEO
Korman Residential
| John has supervised the execution of $2B of commercial real estate financing, acquisition and disposition transactions. He has arranged for $1B in multifamily debt and equity. He has participated in $700M in multifamily acquisitions and dispositions, as well as the development of income producing and for-sale housing portfolios totaling about $1B.
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| Joseph Mullen
President and CEO
Madison Apartment Group, L.P.
| | Joseph is responsible for the acquisition, investment management and operation of BPG's extensive multifamily portfolio. He was instrumental in the formation of Madison Apartment Group, L.P., the firm's multifamily management affiliate, and was named president at its inception in 2001. Prior to joining BPG in 1988, Joseph was an accountant with Mathieson, Aiken & Company. | | | 
| Mark Dambly
President
Pennrose Properties, LLC
| Mark real estate expertise includes complex multi-funded transactions in both the affordable and market-rate housing markets. He leads the firm's development teams through every phase of the development process, from initial financing applications and approvals through closings and construction completion. He also directs the firm’s business development efforts – seeking opportunities for future business, establishing and maintaining relationships with municipalities, agencies, and lenders. Under his leadership, Pennrose’s portfolio of real-estate developments has grown to nearly 10,000 units.
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| Karyn Marasco Gutierrez
SVP, Northeast Operations
AIMCO
| | AIMCO is a multifamily REIT with real estate throughout the US valued at $14B. Karyn leads Northeast Operations (AIMCO’s largest operating unit – 44% of total portfolio) including finance, sales, marketing, redevelopment and redesign for 142 properties that generate in excess of $300M. She also manages operations for properties in top 3 markets – Washington DC, Boston, and Philadelphia. Previously, Karyn was regional managing director of Europe, Russia and Israel with Le Meridien Hotels and Resorts. | | | 
| Matthew McManus
Senior Director
Marcus & Millichap Capital Corporation
| | Matthew has raised $5.5B in equity and debt capital for NAI Bluestone and has 18 years of experience in commercial real estate finance. He launched the NAI Bluestone Asset Resolution Group to help distressed CRE owners and lenders work out financing issues in today's troubled market. | | | 
| Christine Espenshade
SVP
Jones Lang LaSalle
| | Christine has sold or recapitalized $700M in multifamily investments throughout the US. She is responsible for business development, financial underwriting, and strategic positioning of multifamily assets in greater Baltimore, Delaware, Philadelphia, and affordable housing nationally. She was previously with MuniMae, Moran & Co, JPI, and Archon Group. | | | 
| Chris Terlizzi
SVP & Regional Manager
First Niagara Bank
| Chris has had full P & L responsibility for 15 years in enterprises valued at $3.5B in commercial real estate assets with net annual earnings of $80M. At First Niagara, Chris oversees Eastern Pennsylvania and Southern New England real estate lending. During his 37-year career, Chris has held executive leadership positions at Citizens Bank, Fleet Bank and Fidelity Bank in addition to founding principal roles at Laurier Capital Advisors, LLC and PREIT Capital Advisors.
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| Beryl Simonson
Assurance Partner
McGladrey
| After earning his CPA with the highest test score in Pennsylvania (second highest in the country, no less), Beryl has provided expertise in audit, review, compilation, prospective financial information and other consulting services for real estate funds, developers and investors whose investments and projects cover retail, multifamily residential, office, mixed use and condominium development. He has aided clients in initial public offerings and the formation of real estate investment trusts, logical work for a member of the National Association of REITs.
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