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Speakers and Panels

Opportunity Zones 101

A Window of Opportunity

Bryan Furze

Bryan Furze

Vice President, Asset Management

Federal Realty Investment Trust

Kimberly Martin-Epstein

Kimberly Martin-Epstein

Attorney, Hackett Feinberg

CREW Boston

Jeff Gronning

Jeff Gronning

Founder

Normandy Real Estate Partners

Larry Curtis

Larry Curtis

President

Winn Companies

Sally Michael

Sally Michael

Partner

Saul Ewing Arnstein & Lehr

Robert Brown
Moderator

Robert Brown

Principal/Managing Director

Perkins+Will

Bryan Furze

Vice President, Asset Management

Federal Realty Investment Trust

Bryan Furze is Vice President Asset Management for Federal Realty Investment Trust. In this capacity, he is responsible for the performance of the Trust's Boston, New York and Chicago core portfolio, comprised of 25 assets representing over 4 million square feet and valued at $1.4 Billion.

Bryan has almost 20 years of experience in all facets of the retail real estate industry, focusing on value creation, development and operations of shopping centers and mixed-use properties throughout New England. He most recently was the Vice President Asset Management & Development at Linear Retail Properties where he managed an assigned portfolio of 20 assets comprising tenants ranging from mom & pop retailers to national junior box retailers, pharmacies and grocers.

Bryan has redeveloped numerous shopping centers and master planned and assembled numerous urban, mixed-use projects.

Bryan holds a Certified Development Professional (CDP) from the International Council of Shopping Centers, for which he is a past Chair of the New England Government Relations Committee and is currently a member of the national Economic Development Committee. He also a member of the Urban Land Institute and is a member of the Planning Board and Town Meeting Member in his town, Milton, MA. Bryan is a graduate of the University of Notre Dame.

Kimberly Martin-Epstein

Attorney, Hackett Feinberg

CREW Boston

Kimberly Martin-Epstein concentrates her practice in the areas of commercial and real estate transactions, including conveyancing, lending and banking, and with a special focus on affordable housing development and financing. Her practice includes representing developers, banks, other financial institutions, nonprofit organizations, governmental and quasi-governmental agencies and condominium associations. Kim’s practice also includes representing lenders in a variety of routine and complex loan restructure and work-out transactions, including foreclosure.

Prior to joining Hackett Feinberg P.C., Kim was the loan program manager at Boston Community Capital, a private nonprofit community development financial institution, concentrating in lending to affordable housing and community development projects and businesses. While at Boston Community Capital, Kim also worked with numerous nonprofit organizations to build their credit and capacity as real estate developers and community service providers. Kim continues to represent the loan fund as lender’s counsel in its various roles in community development and tax credit projects.

Kim currently resides with her wife and two children in Swampscott, Massachusetts. Kim has served as co-chair to the real estate finance committee of the Boston Bar Association’s Real Estate Section, and is active in CREW Boston and the Real Estate Bar Association. Kim has served on numerous boards and committees of nonprofit corporations including the Women’s Lunch Place, Neighborhood of Affordable Housing, Inc., CASCAP, Inc., Earthos, Inc. and the North Shore Community Development Coalition, Inc.

Jeff Gronning

Founder

Normandy Real Estate Partners

Mr. Gronning is a Partner of Normandy and co-founder of the Normandy Real Estate Funds. Prior to Normandy, he held the position of Executive Director and Chief Financial Officer of Morgan Stanley’s real estate investing division. During his 12 years at Morgan Stanley, he was responsible for a $13 billion asset portfolio that served more than 100 clients. He was also instrumental in raising over $2.6 billion in capital for the Morgan Stanley Real Estate Funds (MSREF) and integrating the Lend Lease real estate investment business into the company. Mr. Gronning, a Certified Public Accountant, earned his Bachelor’s degree in Business/Accounting from Virginia Commonwealth University.

Sally Michael

Partner

Saul Ewing Arnstein & Lehr

Sally Michael has extensive experience representing owners and

developers on acquisitions, dispositions, financings, development, and

leasing of all classes of commercial property. Sally also represents

borrowers and lenders on restructurings and workouts of distressed debt.

She is lead counsel on many portfolio transactions and multi-state matters.

In addition, she has significant experience in recapitalizations and joint

venture equity transactions.

Experience

Select representations

 Represented a real estate developer based in New York in the

acquisition, financing and joint venture equity agreement for a $65 million

portfolio of eight office buildings containing 620,000 square foot of space in

Rocky Hill, Connecticut.

 Represented one of the largest privately held, real estate companies in

New England on the acquisition of 16 apartment buildings in greater Boston;

these recent acquisitions added over 500 units to the more than 5,000 units

owned/managed by the company, in addition to its 2 million square feet of

commercial space.

 Counseled a real estate investment and development company in

restructuring the company's debt on more than 1.2 million square feet of its

commercial real estate using $85 million in new equity financing.

 Converted an urban hospital campus to a condominium structure in

connection with a $200 million dollar bond financing that created options for

future use/development of the hospital's real estate.

Speaking Engagements

Sally is an accomplished public speaker who regularly addresses industry

groups on substantive real estate topics. For the past two years, she has

moderated an all-star line-up of real estate executives who have discussed

cutting-edge deals and the current state of the market at the Saul Ewing

New England Real Estate Conference in Boston, and moderated the debt

and equity panel at the Saul Ewing Mid-Atlantic Real Estate Conference in

Baltimore. Her panel discussions have received extensive media coverage

in northeastern real estate publications. At the upcoming MIT 2013 Real Estate Forum, Sally will be discussing

important changes in non-recourse guaranties and other lending topics.

In the Media

Several of Sally's transactions on behalf of clients have been featured in The Real Reporter, and other regional

papers, including details on an $18.5 million, 91-unit multifamily portfolio in Allston and West Roxbury (Boston),

Massachusetts that Sally handled; a $65 million acquisition of an eight-building 620,000-square-foot office

portfolio in Rocky Hill, Connecticut; and a 409-unit building in Brookline, Massachusetts that traded in excess of

$100 million dollars.

Memberships and Affiliations

 Massachusetts Bar Association

 Rhode Island Bar Association

 Member, Board of Trustees, The Boston Home.

Robert Brown

Moderator

Perkins+Will

Robert has over 40 years of experience in the design and management of a variety of project types including mixed-use developments, major office buildings, residential, retail, hospitality, academic facilities, and corporate interior design. He is a past President of the Boston Society of Architects and has served on the Back Bay Architectural Commission. Over the past 20 years, Robert has served as an instructor, active committee member, and Trustee at the Boston Architectural College. He has also been a critic at Harvard, Northeastern, Wentworth, and MIT.

Opening Remarks

Sponsored by CoStar

Mark Hickey

Mark Hickey

Real Estate Economist

CoStar

Mark Hickey

Real Estate Economist

CoStar

Mark Hickey is a Real Estate Economist with the CoStar Group, the leading provider of data and analytics to the commercial real estate industry. He has been with the firm for over 10 years and focuses his time on the analysis of market trends in Boston and greater New England. Mark has been quoted about commercial real estate markets in major metropolitan newspapers and national media, including the Boston Business Journal, the Boston Globe, and the Wall Street Journal. Prior to joining CoStar, he spent 10 years working in financial services for some of the nation’s leading investment banks. Mark received his B.S. in Finance and Economics from the Whitman School of Management at Syracuse University and an M.B.A. from the Carroll Graduate School of Management at Boston College.

2019 Forecast

A Debt, Equity and Construction Financing Playbook for Boston’s Middle Market Deals

Kevin Phelan

Kevin Phelan

Co-Chairman

Colliers International

Daniel St. Clair

Daniel St. Clair

Managing Director

Spaulding & Slye Investments

Mike Kennealy

Mike Kennealy

Executive Office of Housing & Economic Development

Commonwealth of Massachusetts

John Roach

John Roach

SVP

US Bank

Peter McGlynn
Moderator

Peter McGlynn

Partner

Bernkopf Goodman

Kevin Phelan

Co-Chairman

Colliers International

Mr. Phelan is co-chairman of Colliers International’s Boston office, a full-service commercial real estate firm providing Brokerage, Development & Consulting Services, Valuation & Advisory Services, Capital Markets, and Real Estate Management Services to a broad range for clients. Mr. Phelan joined the firm in 1978 to create the Capital Markets group, which is now one of the two largest in the region. He was appointed president in 2007 and then co-chairman in 2010. Over the course of his career, Mr. Phelan has been involved in several billion dollars in financings across the United States, representing all property types. The Capital Markets group represents nearly 20 institutions as their New England correspondent. Additionally, the Capital Markets group maintains a servicing portfolio valued in excess of $1 billion.

Mr. Phelan serves as Real Estate Advisor for several universities, hospitals and non-profits in the Boston area. He has also served on correspondent advisory councils for AEGON U.S.A. Realty Advisors, Inc., Nationwide Life, and on numerous boards and committees for organizations such as Providence College, Boys & Girls Clubs of Boston; Archdiocese of Boston; Crossroads; and the Greater Boston Chamber of Commerce.

Daniel St. Clair

Managing Director

Spaulding & Slye Investments

Mr. St. Clair is the head of acquisitions and development and a member of the Executive Committee for Spaulding & Slye Investments. As Managing Director, he brings 25 years of investment, development, planning, design, construction and management experience. Drawing on his skills in finance, business management, and design, Mr. St. Clair has sourced and directed a wide range of urban mixed-use, commercial, industrial, research, and residential developments.

Spaulding & Slye Investments is dedicated to achieving superior risk-adjusted returns and creative capital solutions for our investors, which include JLL executives, select high net-worth individuals and strategic institutional investors, including Prudential, CalSTRS and other blue chip corporate entities seeking out investment opportunities in the country’s most dynamic real estate markets. Over our 50 year history, Spaulding & Slye has invested in over 120 properties across the U.S. and currently has more than $1.6 billion in assets under management. We currently invest through our opportunistic, value-add and core-plus funds with a collective buying power of $750 million. As an operating division of JLL – one of the world’s largest real estate services and investment companies – Spaulding & Slye benefits from the scale and capital resources of JLL to source, develop and manage its highly profitable investments.

Since 2014, Mr. St. Clair and his team has successfully completed the acquisition and development of real estate valued at $500M including the acquisition of 2.8 MSF of industrial product in New England, re-positioning of multi-family in the Carolinas, acquisition of office in suburban Philadelphia and creative office in Chicago, and the re-zoning of land from industrial to residential in Boston.

Mike Kennealy

Executive Office of Housing & Economic Development

Commonwealth of Massachusetts

In early 2015 Mike joined Governor Charlie Baker's administration as Assistant Secretary for Business Growth in the Executive Office of Housing & Economic Development, working to advance the administration’s strategy for job creation and business development. Mike has played an integral role in the expansion of major employers in the Commonwealth including Aetna, Alnylam, EMD Millipore, Flextronics, General Electric, Insulet, Siemens and Waters. He serves as co-chair of the board of the Massachusetts Life Sciences Center and vice chair of the Financial Services Advisory Council.

In 1997, he joined Spectrum Equity, a leading growth private equity firm founded in 1994 with offices in Boston and San Francisco. During his more than 15 years at Spectrum, the firm grew from $360 million in assets under management to $4.7 billion and invested in over 100 high-growth internet, software, and information services companies. After his career in private equity, Mike spent two years as Special Advisor to the Receiver at Lawrence Public Schools where he worked with the state-appointed superintendent/receiver on strategic and financial initiatives to support the school district’s turnaround plan. Earlier, Mike was an Associate at TA Associates, a Boston-based private equity firm.

Mike received an AB magna cum laude, Phi Beta Kappa, with high honors in Government from Dartmouth College in 1990 and an MBA from Harvard Business School in 1997.

John Roach

SVP

US Bank

John Roach is a Senior Vice President and is the Boston Market Manager for U.S. Bank’s Commercial Real Estate division. John is responsible for managing a team of Relationship Managers focused on private commercial real estate developers and commercial property owners located in greater New England. The team finances real estate projects located throughout the United States while providing comprehensive credit and treasury solutions for clients and prospects.

Prior to joining U.S. Bank in 2018, John was with PNC Bank for 9 years serving in a variety of roles within Commercial Real Estate. Prior to joining PNC, John spent 7 years at PricewaterhouseCoopers (PwC) in New York, NY with the Real Estate Assurance Practice. During his tenure at PwC, John specialized in providing audit services to publicly traded REITS and private real estate fund advisors.

Mr. Roach graduated from Mercyhurst College in 2002 with duel degrees in Finance and Accounting. He earned his CPA license during his tenure at PwC and is active in multiple industry groups including REFA, NAIOP, ULI and RELA.

Peter McGlynn

Moderator

Bernkopf Goodman

Peter is a trial attorney specializing in construction, surety, malpractice, commercial and bankruptcy cases. Peter has tried to verdict or decision in excess of 150 cases throughout the United States representing general contractors, subcontractors, architects, engineers, lenders, sureties and owners, among others, on a wide array of commercial, construction, surety and bankruptcy disputes.

In particular, Peter has represented clients on numerous and diverse construction and related disputes, including litigation involving defects and project mismanagement arising out of the construction of a nuclear power plant, defending the officers and directors of a defunct subcontractor for claims by a general contractor arising under the federal law successfully trying a real estate partnership dispute involving a $3 billion development and construction project, and prosecuting and defending claims arising out of failed or failing construction contractors and subcontractors. Peter has also represented contractors, subcontractors and developers on all aspects of commercial and multi-family residential projects. Within the past year, Peter has assisted both contractors and developers in commercial and multi-family construction projects valued at over $600 million located throughout New England, the Eastern Seaboard and in Florida.

A frequent lecturer, Peter has presented lectures on litigation, construction, bankruptcy and surety law to numerous organizations, including the Boston Society of Civil Engineers, the Engineering Societies of New England, Massachusetts Continuing Legal Education and New England Law Institute, the Northeast Construction Expo., the Construction SuperConference™, the National Academy of Forensic Engineers, the Associated General Contractors, ALI/ABA, Lorman Education Services, Halfmoon Education Inc., Thompson Reuters and the American Bankruptcy Institute.

Peter is also the founder of the New England Construction & Real Estate Risk Management Conference™, an annual conference focusing on effective ways to manage risk on construction and real estate development projects.

Peter has also presented lectures on construction law and litigation for Northeastern University and the University of Wisconsin.

Summary

1. What were this years' major acquisitions, investments, and projects in and around Boston? 

2. What is a Qualified Opportunity Fund? What are Opportunity Zones, and where are they located?

4. Why invest in Opportunity Funds, and are they a better investment than a 1031 Exchange

5. How can Opportunity Zones spur economic development in Boston proper and its surrounding suburbs? 

6. How does Opportunity Fund investing work? 

7. Which of Boston proper's 14 designated Opportunity Zones be the best investment for owners and developers? 

8. What are some of the tax benefits and the tiered structure of the program? 

Venue

Boston Marriott Long Wharf
296 State St
Boston, MA 02109

Ballroom: Grand Ballroom


Self-Parking at Harbor Garage (270 Atlantic Ave) - Discounted Rate: $30 for up to 12 hours

Valet Parking at Marriott:
0-1 Hours: $20.00
1-2 Hours: $40.00
2-3 Hours: $42.00
3-4 Hours: $46.00
4-5 Hours: $50.00
5-24 Hours: $55.00
(pricing subject to change)

Agenda

Time Activity
12:30 PM
1:30 PM
Registration, Networking & Breakfast
1:30 PM
1:40 PM
Presentation, Sponsored by CoStar
1:40 PM
2:20 PM
A Year in Review: 2018's Trends and 2019's Forecast

Learn about 2018's greatest trends and biggest deals, and how they may come to into play in the new year

2:20 PM
3:00 PM
A CRE Window of Opportunity: Opportunity Zones 101

What You Need to Know about the Latest Tax Incentives

3:10 PM
3:30 PM
More Schmoozing!