Program & Venue

Speakers gather with UM President Julio Frenk, MHBS Dean John Quelch, and program directors at the 2020 Real Estate Impact Conference
UM Students meet with industry leaders at the Swire Scholars Lunch
Debra Cafaro and Patricia Will
at the 2020 Real Estate Impact Conference
Matt Cherwin and Steve Witkoff
at the 2020 Real Estate Impact Conference
Alfonso Munk, Laura Hines-Pierce, Jeff Hines
at the 2020 Real Estate Impact Conference
University of Miami Real Estate Impact Conference 2020
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UM’s Real Estate Impact Conference Focuses on Threats and Opportunities in U.S. and Global Markets

Hospitality services are playing an increasingly important role throughout the commercial real estate market, as employers seek to recruit and retain talented workers.  Another emerging trend is the growing demand for medical office properties and senior housing driven by the aging of the U.S. population. However, the global spread of the novel coronavirus COVID-19 poses a threat to financial assets as well as national economies.

Those insights were among the key takeaways from expert participants at the ninth annual University of Miami Real Estate Impact Conference, hosted by the School of Architecture and Miami Herbert Business School on February 28 at the Four Seasons Hotel with support from presenting sponsors Douglas Elliman Real Estate, Kislak, and Witkoff.

More than 650 University of Miami students and alumni, including many South Florida commercial real estate and finance professionals, discussed both threats and opportunities in the market at multidisciplinary conference, attended by John Quelch, dean of Miami Herbert Business School, Rodolphe el-Khoury, dean of the School of Architecture, and Tony Varona, dean of the School of Law.

“Bringing together faculty and students from our schools of architecture, business and law is an important step in tackling today’s complex problems,” said University of Miami President Julio Frenk. “This conference is an excellent example, because real estate is essential to Miami’s economy with an impact around the world.”

David Martin, vice president of retail at Swire Properties, welcomed UM’s Swire Scholar students to the opening luncheon, where they had an opportunity to discuss their studies and career plans with UM’s Real Estate Advisory Board members. 

For MBA student Jack Shelgren, the Swire Scholars luncheon provided valuable learning and networking opportunities. “As an intern, I did research and financial analysis, learning about multifamily, office and retail asset types,” he said. “Now, I’m an associate at Freedom Property Group, gaining an entrepreneurial perspective, while working on acquisitions for our clients.”

Andrea Heuson, professor of finance and academic director of Miami Herbert Business School’s real estate programs, noted the importance of developing face-to-face professional relationships at the conference. “We have built an incredible network here, including our many generous sponsors,” she said.  “That support has allowed us to offer our program on impact investing in real estate, as well as a summer program introducing high school students to our industry, and opening the door for the next generation of professionals.”

12:00 PM Registration & Networking
1:00 PM
Macro Trends and Opportunities in Global Markets

Matt Cherwin
Managing Director, Treasurer and Chief Investment Officer
JP Morgan Chase & Co.

Matt Cherwin oversees the Treasury and Chief Investment Office responsible for managing the firm’s balance sheet, capital, liquidity and funding as well as the firm’s investment portfolio. In prior roles Matt ran asset-backed trading and mortgage portfolios—this man knows the capital flows that are the lifeblood of our industry!

Steven Witkoff is Chairman & Chief Executive Officer of Witkoff, which he founded in 1997. With his extensive experience in all aspects of the development process, from financing and acquisitions through construction, he has successfully led the repositioning of over 70 properties comprising some 18 million square feet in major central business districts in the U.S. and abroad. Mr. Witkoff earned a J.D. from Hofstra University. He has served on the Executive Committee for the Real Estate Board of New York (REBNY) and currently serves as Chair of the Miami Herbert Business School Real Estate Advisory Board and a member of the Hofstra University Board of Trustees. 

 

The Impact of the Coronavirus

Without question, the novel coronavirus COVID-19 will impact real estate markets around the world, according to Matthew Cherwin, treasurer and chief investment officer, JP Morgan Chase & Co.

“Several weeks ago, I would have said the coronavirus is no different than the seasonal flu,” said Cherwin, who discussed “Macro Trends and Opportunities in Global Markets” with Steve Witkoff, chairman and CEO, Witkoff. “But to see how the virus is affecting our economy, just look around. A lot of travel-related spending, for instance, will go away and never come back.” ...

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2:15 PM Networking Break
2:45 PM
Riding the Silver Tsunami

Debra A. Cafaro
Chairman and CEO
Ventas, Inc.

As the Chairman and CEO of Ventas, Debra A. Cafaro guides an S&P 500 real estate investment trust (REIT) with more than $3.7 billion in revenue, a market cap in excess of $27 billion and a portfolio of approximately 1,200 properties across the growth sectors of research and innovation, seniors housing, medical office/outpatient and health systems. The healthcare industry and commercial real estate are intertwined and the importance of investments in healthcare real estate will only grow as the population ages.

Patricia Will, founder and CEO of Belmont Village, will moderate the conversation with Deborah Cafaro. Belmont Village strives to be the leading developer and operator of Assisted Living communities in the nation’s largest cities.

The Silver Tsunami

The aging of America is opening the door to new real estate opportunities in senior housing and medical office properties, according to two experts in these fields. Patricia Will, founder and CEO, Belmont Village, a senior living company, interviewed Debra A. Cafaro, chairman and CEO, Ventas, Inc, a public REIT, in an afternoon discussion on “Riding the Silver Tsunami.”

“We believe in the senior living business,” said Cafaro. “There is tremendous demand from people age 85 and up, and that’s our customer base now. But there is oversupply in many U.S. markets with declines in occupancies and net operating income (NOI) over the past couple of years.” ...

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3:45 PM Networking Break
4:15 PM
Development Opportunities Here at Home and Around the World

Laura Hines-Pierce
Senior Managing Director – Office of the CEO, Hines

Jeff Hines
President and CEO, Hines

Hines is a privately owned global real estate investment, development and management firm, founded in 1957, with a presence in 219 cities in 23 countries and $124.3 billion of assets under management. As Senior Managing Director - Office of the CEO, Laura Hines-Pierce works alongside CEO Jeff Hines to help shape firmwide strategy, manage key risks, and ensure Hines is consistently on the leading edge of being the best real estate investor, partner and manager in the world. Since joining the firm in 1982, Jeff Hines’ ascent to his position of leadership has been paralleled by a vast expansion of the firm’s holdings, products and services as well as a dramatic increase of Hines’ capital base and the reinforcement of the firm’s reputation for excellence and  commitment to sustainability.

Alfonso Munk, Chief Investment Officer, Americas, Hines, will moderate the conversation with Laura Hines-Pierce and Jeff Hines. As CIO, Americas Alfonso is responsible for developing investment strategy for North and South America that is in line with the global views of the firm. He is a member of the firm’s Executive and Global Investment Committees.

 

New Development Opportunities

Three members of the Hines organization took part in a discussion on “Development Opportunities Here at Home and Around the World.” Founded in 1957 by Gerald Hines, who is still active at age 94, the commercial development, investment and management company now has 4,400 employees in 24 countries.

Alfonso Munk, chief investment officer, Americas, moderated a conversation with Jeff Hines, president and CEO, and his daughter Laura Hines-Pierce, senior managing director, Office of the CEO. “We have evolved from a U.S. CBD office building developer in the 1990s to be an investment manager, bringing our development and property management skill sets to a wider range of product types and locations,” said Hines. “We view real estate as a long term business and can make investments that public firms would have trouble justifying on a quarterly basis.”

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5:15 PM Networking Reception

Venue

 

Four Seasons Hotel Miami

Grand Ballroom
1435 Brickell Avenue
Miami, Florida