THURSDAY, NOVEMBER 15, 2018 • 8:00 AM TO 4:30 PMTHE PIERRE • NEW YORK CITY

SPECIAL WORKSHOPEVERYTHING YOU NEED TO KNOW ABOUT OPPORTUNITY ZONES FEATURING PANELISTS FROM: BERKADIA • GOLDMAN SACHS GREENBERG TRAURIG • KPMG • RXR REALTY

NYUSPS SCHACK INSTITUTE OF REAL ESTATE

51ST ANNUAL CONFERENCE ON

CAPITAL MARKETS IN REAL ESTATEUPSTARTS AND STALWARTS: THE NEW RULES OF REAL ESTATE CAPITAL

CONFERENCE HOST

SAM CHANDAN, PhD, FRICS Larry & Klara Silverstein Chair in Real Estate Development & Investment & Associate Dean, NYUSPS Schack Institute of Real Estate

CONFERENCE CHAIR

ROBERT S. BLUMENTHAL Vice Chairman & Managing Director, Real Estate, Gaming, Lodging, & Leisure Group, Americas, Deutsche Bank Securities

CONFERENCE CO-CHAIRS

MARTY BURGER Chief Executive Officer Silverstein Properties

SCOTT RECHLER ’90 Chairman & Chief Executive Officer RXR Realty

WENDY SILVERSTEIN Chief Investment Officer WeWork

The NYU School of Professional Studies (NYUSPS) Schack Institute of Real Estate was founded in 1967 at the initiative of prominent members of the New York City real estate community, who encouraged NYU to establish an academic center that would provide a world-class education for industry professionals. More than 50 years later, the Schack Institute is at the forefront of real estate education and is recognized globally as one of the world’s leading centers of real estate research and pedagogy. Across the Institute’s graduate degree programs—notably the MS in Real Estate, the MS in Construction Management, and the MS in Real Estate Development—as well as a rapidly expanding undergraduate degree program, enrollment has grown to nearly 1,000 full- and part-time students from across the United States and nearly 50 other countries. In addition to its flagship degree programs, thousands of working professionals enroll in the Schack Institute’s executive education, diploma, certificate, and career advancement programs each year.

An anchor of real estate academia’s engagement with industry, the Institute is home to the REIT Center, the Center for the Sustainable Built Environment, and the newly established Urban Lab. In addition, the Institute hosts national industry events, including annual conferences on real estate capital markets and the REIT sector. Under the direction of the Schack Institute’s faculty, ongoing applied research at the Institute spans an exceptional range of issues in real estate development and investment, urban economics, and market structure and regulation.

SPONSORSHIP OPPORTUNITIESSponsorship opportunities are available now for the 51st Annual Conference on Capital Markets in Real Estate. For inquiries about sponsorship, please contact Sonal Pande at sonal.pande@nyu.edu or call 212-998-6961. Through signage, acknowledgments in marketing materials, and participation in special conference events, sponsorship offers a high level of visibility with the real estate industry’s most senior decision makers. The funds raised support critically important scholarship and academic programs for graduate and undergraduate students at the Institute.

To review sponsorship levels, please visit sps.nyu.edu/schack/capitalsponsorship.

REGISTRATION INQUIRIESFor registration inquiries, please contact Monica Estrada at monica.estrada@nyu.edu. Corporate discounts are available for firms sending six or more employees.

NYU SCHOOL OF PROFESSIONAL STUDIES SCHACK INSTITUTE OF REAL ESTATE

ABOUT THE NYU SCHOOL OF PROFESSIONAL STUDIES SCHACK INSTITUTE OF REAL ESTATE

ABOUT THE NYU SCHOOL OF PROFESSIONAL STUDIES SCHACK INSTITUTE OF REAL ESTATE

We are pleased to announce that the 51st Annual Conference on Capital Markets in Real Estate will take place on Thursday, November 15, 2018 at the Pierre Hotel in New York City. For over half a century, the Capital Markets Conference has been one of the industry’s most prominent forums on the state of commercial real estate capital markets and investment activity. Once again this year, the Conference will convene industry leaders for a vigorous debate on global equity and debt capital flows, institutional and private equity investment activity, and emerging sources of market disruption.

Among the highlights of this year’s agenda, we have added a special workshop on opportunity zones featuring investors, lenders, fund managers, and experts in law and accounting. Opportunity zones have quickly emerged as one of the real estate industry’s hottest topics of discussion. By offering favorable tax treatment of unrealized capital gains invested in underserved communities, the program has the potential to unleash a torrent of new real estate activity. In this not-to-be-missed workshop, conference attendees will learn about current fundraising activity and the potential impact of opportunity zone investment on real estate portfolios and neighborhoods across the country.

We hope to see you at the Conference alongside an expected audience of nearly 800 investors, lenders, policymakers, members of the academic community, and other industry professionals.

CONFERENCE HOST

SAM CHANDAN, PhD, FRICS Larry & Klara Silverstein Chair in Real Estate Development & Investment & Associate Dean, NYUSPS Schack Institute of Real Estate

CONFERENCE CHAIR

ROBERT S. BLUMENTHAL Vice Chairman & Managing Director, Real Estate, Gaming, Lodging, & Leisure Group, Americas, Deutsche Bank Securities

CONFERENCE CO-CHAIRS

MARTY BURGER Chief Executive Officer Silverstein Properties

SCOTT RECHLER ’90 Chairman & Chief Executive Officer, RXR Realty

WENDY SILVERSTEIN Chief Investment Officer WeWork

51ST ANNUAL CONFERENCE ON

CAPITAL MARKETS IN REAL ESTATEUPSTARTS AND STALWARTS: THE NEW RULES OF REAL ESTATE CAPITAL

WHAT’S NEW FOR 2018—THE DEAL LOUNGE

In addition to our special workshop on opportunity zones, this year’s conference includes a new Deal Lounge, an informal space set aside for use by conference participants to meet with colleagues on the sidelines of the general session. Our conference rapporteur will prepare a special report on the general session proceedings that will be shared with all participants in the weeks following the Conference, along with video highlights of the panels.

Conference AgendaAs of November 6, 2018. Panel times and panelists may change. For the most current agenda, visit http://bit.ly/NYUCapMarkets2018

7:30-8:20 AM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Breakfast and Registration

8:25–8:35 AM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .General Session Opening Remarks

SAM CHANDAN, PhD, FRICS, Larry & Klara Silverstein Chair in Real Estate Development & Investment & Associate Dean, NYUSPS Schack Institute of Real Estate

8:40–9:30 AM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PANEL I: GLOBAL DEBT CAPITAL FLOWS

MATT BORSTEIN, Global Head of Commercial Real Estate, Deutsche Bank [Moderator]

BRIAN J. BAKER, Managing Director & Global Head of Commercial Mortgages & Real Estate Special Opportunities, J.P. Morgan

JEFFREY F. DIMODICA, President & Managing Director, Starwood Property Trust

DAVID LEHMAN, Global Head of Real Estate Finance, Goldman, Sachs & Co.

KARA MCSHANE, Managing Director, Head of Commercial Real Estate Capital Markets & Finance, Wells Fargo Securities

9:35–10:25 AM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .PANEL II: DRIVERS OF REAL ESTATE EQUITY

LAUREN HOCHFELDER SILVERMAN, Managing Director & Head of Real Estate Investing Americas, Morgan Stanley [Moderator]

JOHN JACOBSSON, Executive Vice President, Capital Markets Related Companies

KHALED W. KUDSI, Senior Managing Director, Northwood Investors

WILLIAM D. (BILLY) RAHM, Partner & Senior Managing Director Centerbridge Partners

WENDY SILVERSTEIN, Chief Investment Officer, WeWork

10:30–10:45 AM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Networking Break

10:50–11:40 AM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PANEL III: GLOBAL SOURCES OF INSTITUTIONAL CAPITAL

DAVID GILBERT, Chief Executive & Investment Officer, Clarion Partners [Moderator]

KAREN HORSTMANN, Portfolio Manager, Norges Bank Real Estate Management

ALISA MALL, Director of Investments, Carnegie Foundation

GARY PHILLIPS, Managing Director & Head of Acquisitions, Allianz Real Estate of America

ROBERTA WAXMAN-LENZ, Portfolio Manager & Investment Officer United Nations Joint Staff Pension Fund

11:45 AM–12:35 PM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PANEL IV: ALTERNATIVE FINANCE—RISE OF THE NON-BANK LENDERS

MARTY BURGER, Chief Executive Officer, Silverstein Properties [Moderator]

ANDREA BALKAN, Managing Partner, Brookfield Real Estate Financial Partners

MICHAEL MAY, President, Silverstein Capital Partners

DAVID SCHONBRAUN, Co-Chief Investment Officer, SL Green

PETER SOTOLOFF, Managing Partner & Chief Investment Officer, Mack Real Estate Credit Strategies

SCOTT WEINER, Lead Partner, CRE Debt, Apollo Global Management

12:40–1:15 PM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Conference Luncheon

Special AddressLARRY SILVERSTEIN, Chairman, Silverstein Properties

1:15–2:10 PM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .PANEL V: GOLDEN APPLE—THE OUTLOOK FOR NEW YORK CITY

ROBERT S. BLUMENTHAL, Vice Chairman & Managing Director, Real Estate, Gaming, Lodging, & Leisure Group, Americas, Deutsche Bank Securities [Moderator]

MARYANNE GILMARTIN, Co-Founder & Chief Executive Officer, L&L MAG

RICHARD LEFRAK, Chairman & Chief Executive Officer, LeFrak

SCOTT RECHLER ’90, Chairman & Chief Executive Officer, RXR Realty

STEPHEN M. ROSS, Chairman & Founder, Related Companies

WILLIAM C. RUDIN, Chief Executive Officer & Co-Chairman, Rudin Management Company

2:15–2:20 PM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .General Session Closing Remarks

SAM CHANDAN, PhD, FRICS, Larry & Klara Silverstein Chair in Real Estate Development & Investment & Associate Dean, NYUSPS Schack Institute of Real Estate

2:30–2:35 PM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SPECIAL WORKSHOP ON OPPORTUNITY ZONES—OPENING REMARKS

MITCH RUTTER, Chief Executive Officer, Essex Capital

2:40–3:10 PM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .SESSION I: OPPORTUNITY ZONES EXPLAINED

MITCH RUTTER, Chief Executive Officer, Essex Capital [Moderator]

JAMES LANG, Shareholder, Greenberg Traurig

JOSEPH SCALIO, Partner, KPMG

KIRK A. SYKES, Co-Founder and Managing Principal, Merrick Capital Management

3:15–3:55 PM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SESSION II: OPPORTUNITY ZONE FUNDS

JAMES D. KUHN, President & Chief Strategy Officer, Newmark Knight Frank [Moderator]

JEFFREY FINE, Managing Director, Goldman Sachs

DORI NOLAN, Partner & Head of Investments, Capri Capital Partners

SETH PINSKY, Executive Vice President, RXR Realty

DAVID WELSH, Founder & Partner, Normandy Real Estate Partners

ROBERT WRZOSEK, Managing Director, Berkadia

4:00–4:30 PM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Conference Reception

Additional workshop participants to be announced.

Related CEO Jeff T. Blau was a featured one-on-one speaker at the 50th Annual Conference on Capital Markets in Real Estate in 2017.

General InformationCONFERENCE FEE The Conference fee, including breakfast, the luncheon, and all materials, is $825 for each participant. No discounts will be given on the day of the event. Checks will only be accepted for onsite registrations on the day of the event.

ELECTRONIC REGISTRATION AND CONFIRMATION An email registration confirmation will be sent to the email address provided to NYU at the time of registration. Your confirmation will be from the NYUSPS Schack Institute of Real Estate. If confirmation is not received within two business days, please contact SchackConferences@nyu.edu for a receipt.

DIETARY REQUIREMENTS OR ACCESSIBILITY NEEDS Participants who have dietary requirements or accessibility needs are advised to email SchackConferences@nyu.edu by Monday, November 5, 2018 to indicate their particular requirement(s). Dietary requirements must be indicated by this deadline to receive a special meal for the Conference luncheon.

PARTICIPANT LIST Participant lists derived from information provided on the registration form will be distributed to conference attendees. A list of participating companies may be included in distributions to prospective conference participants. Participants must register by Monday, November 5, 2018 to be included in the program booklet.

HOTEL RESERVATIONS The 51st Annual Conference on Capital Markets in Real Estate will be held at The Pierre, 2 East 61st Street New York, NY 10065. For hotel reservations, please contact The Pierre at 212-838-8000.

Registration FormYour email address is your registration ID. Confirmations are sent by email.

TO REGISTER

By Internet: Register online with your credit card at sps.nyu.edu/capital. Your email address is your registration ID. Confirmations are sent by email.

By Mail: Fill out the registration form below, and return it with a check payable to New York University. Mail to: New York University, 11 West 42nd Street, Room 508, New York, NY 10036.

Onsite Registration: Please bring a check for payment. No credit cards will be accepted for onsite registration.

For more information, please call 212-998-7036.

Mail this form with your check. You may photocopy this form for multiple registrants. Please submit a separate form for each registrant. Please print clearly.

Please register me for the 51st Annual Conference on Capital Markets in Real Estate—Fee $825.00

Payment is enclosed.

Name _______________________________________________________________

Title ________________________________________________________________

Business Phone (______) _______________________________________________

Company ____________________________________________________________

Address _____________________________________________________________

City ___________________________State ______________ Zip Code __________

Email* _______________________________________________________________

*Email is required as registration confirmations are sent by email.

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