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Value-Add Investment in New Jersey

Adenah Bayoh

Adenah Bayoh

CEO

Adenah Bayoh and Companies

Edwin Cohen

Edwin Cohen

Principal

Prism Capital Partners

Jonathan Pozerycki

Jonathan Pozerycki

Partner, Chicago Region

Bridge Development

Hugh Trumbull

Hugh Trumbull

Design Principal

KPF

Jose Cruz

Jose Cruz

Senior MD

JLL

David Wolfe
Moderator

David Wolfe

Co-Managing Partner

Skoloff & Wolfe

Adenah Bayoh

CEO

Adenah Bayoh and Companies

Adenah Bayoh embodies the American dream. At age 13, she escaped the civil war in her native country of Liberia, immigrated to the United States and is now one of the most successful entrepreneurs in her home state of New Jersey. Adenah is the founder and CEO of Adenah Bayoh and Companies, which is the parent corporation that owns IHOP franchises in Newark, Paterson, and Irvington, New Jersey and a real estate development portfolio with over $250 million dollars in urban redevelopment projects. Because of the success of her flagship IHOP in Irvington, she is the second largest employer in the Township. Recently, Adenah launched Cornbread, her signature line of fast casual, farm-to-table, soul food restaurants.

Adenah began her career as an entrepreneur at an early age. After attending a public high school in Newark, New Jersey and putting herself through college, she secured a job in banking and began purchasing multifamily homes as investments. Following the financial success of these investments, she left her banking position to concentrate on building her own businesses focused on transforming and empowering disadvantaged communities.

Inspired by her grandmother, who owned a restaurant in Liberia, Adenah decided to use the profits generated from her real estate investments to open an IHOP in Irvington, New Jersey. After overcoming financial challenges and a learning curve, she cut the ribbon on her first location at age 27, making her one of the youngest IHOP franchisees in the country. In 2010, her location was the fastest-growing in the Northeast, and it remains one of the top grossing in the region. Adenah continues to build on her success; in January 2015, she was appointed to the prestigious Federal Reserve Bank of New York Advisory Council on Small Business and Agriculture. In December 2015, she was named to Ebony Magazine’s Power 100 list alongside such luminaries as U.S. Attorney General Loretta Lynch; Robin Washington, the CFO of pharmaceutical giant Gilead Sciences; and Oscar winning actress Viola Davis.

On June 22, 2015 she proudly cut the ribbon on her second IHOP in Paterson, New Jersey located in the Center City Mall.

After expanding her real estate holdings with the acquisition of larger sites, she decided to take the bold step of transitioning from buying, selling, and renting properties to full-scale real estate development. In 2012, she partnered with two other developers to purchase the former Irvington General Hospital site, which had been vacant for nearly a decade, and transform it into an unprecedented $200 million dollar residential and retail community. Additionally, she is in pre-development on the construction of another urban renewal project that will provide 40 residential units in Irvington.

Adenah is also philanthropically involved in the communities where she does business. At IHOP Irvington, she runs a free breakfast program for children under 12, and she hosts dinners for needy families during the holidays. In addition, she allows local nonprofit organizations to hold charitable events at both IHOP locations.

Adenah’s accomplishments have not gone unrecognized. She is a sought-after speaker by business, professional, and community organizations; universities; and women’s associations. Moreover in March 2014, she was honored as one of the Top 50 Women in Business by the publication NJBIZ and was the cover story in its March 24th issue.

Adenah is a graduate of Fairleigh Dickinson University where she earned a degree in Business Management. Despite her numerous successes, her proudest achievement is being a mother to her two young children.

Edwin Cohen

Principal

Prism Capital Partners

Edwin H. Cohen joined Prism in 2003 as a principal partner after a 40-year career as one of the most prominent members of the real estate brokerage community. Previously, he served as executive director at Cushman & Wakefield, Inc. Cohen has completed hundreds of real estate transactions in his career in the Metropolitan New York/New Jersey/Connecticut area and has been responsible for leasing several million square feet of office space. Cohen also served as executive vice president and manager of Grubb & Ellis’ New Jersey office from 1986 through 1994 and as president and manager of Grubb & Ellis’ New York operations from 1993 to 1994. Cohen established and headed the Suburban Division for Wm. A. White & Sons in 1966 until its acquisition by Grubb & Ellis office in 1986. Cohen has served as a member of the Board of Trustees of Brooklyn College, his alma mater, for over 20 years and is currently its chair. He has been honored by Grubb & Ellis, Cushman & Wakefield and his peers throughout the industry on numerous occasions.

Jonathan Pozerycki

Partner, Chicago Region

Bridge Development

Jon joined Bridge in 2015 and is responsible for assisting in Bridge’s development, acquisition and disposition activities throughout the Northeast Region. He is currently involved in all aspects of the development process, specifically including sourcing, feasibility analysis, leasing, and dispositions. Jon has successfully been involved with transactions totaling over 4.4 million SF valued at over $650+ million during his time at Bridge.

Prior to his role with Bridge, Pozerycki served as an Analyst for the development and investment departments at CenterPoint Properties located in Chicago. As an analyst, he was responsible for underwriting prospective industrial development and acquisition transactions, including joint ventures, in numerous national submarkets. During his tenure, Jon also assisted in the coordination and preparation of investment and board presentations for all new developments, acquisitions, and dispositions.

He is a graduate of Colgate University where he received his BA and he is currently pursuing a Business Certificate in Real Estate Finance and Investment from New York University. He is a member of NAIOP.

Hugh Trumbull

Design Principal

KPF

A Design Principal at Kohn Pedersen Fox with more than 24 years of architectural design experience, Hugh Trumbull consistently develops successful and attractive design solutions for a variety of project types, including commercial, mixed-use, education, hospitality, and master planning projects.

Trumbull has designed some of KPF’s most celebrated commercial office renovations, with a particular focus on environments that mix indoor and outdoor spaces. His work on the renovation of 280 Park Avenue provided the office building with updated interiors and a fresh, elegant identity, while his design for CENTRA Metropark in Iselin, New Jersey received a National AIA Honor Award in 2013—the institute’s highest honor. Repositioning a low-rise office building into a LEED Platinum and Class A office complex, the project is often cited as a new model for the suburban office park. Also in New Jersey, as Design Principal for 175 Park Avenue in New Jersey, he led his team in finding an award-winning design solution that transformed an inefficient and unattractive Verizon call center into a Class A office building.

Trumbull taught design studio for two years at Cornell University and has lectured on architectural design, professional practice, and environmental systems. He has also served as guest critic on design juries for Columbia University, Parsons School of Design, Cornell University, and the University of Nevada at Las Vegas.

Jose Cruz

Senior MD

JLL

Jose is a senior managing director and co-office head in the New Jersey office of JLL Capital

Markets, Americas. He joins JLL as part of the HFF acquisition and is a member of the firm’s

leadership committee. Jose specializes in investment advisory throughout New Jersey,

New York and Connecticut and also oversees the day-to-day operations of the firm’s New

Jersey office. During the course of his more than 25-year commercial real estate career,

he’s been involved in more than $62 billion of office, industrial, retail, multifamily and land

sales.

Jose started at HFF in March 2010. Before that, he was the executive director of Cushman &

Wakefield’s New York area investment sales group where he spent more than 17 years. He

began his real estate career as a real estate analyst at PaineWebber, UBS, Inc.

David Wolfe

Moderator

Skoloff & Wolfe

Mr. Wolfe is the Co-Managing Partner in the Property Tax Department at Skoloff &

Wolfe, PC, where he focuses his practice on representing taxpayers in significant real estate tax appeals and property tax related matters. He has extensive experience in all types of property tax appeals, including hotel, multi-family, retail, office, and industrial properties. Mr. Wolfe frequently counsels clients on the property tax implications of the development, acquisition, and disposition of significant assets. He also counsels clients with respect to property tax exemptions and PILOT agreements.

Mr. Wolfe serves on the Board of the National Association of Property Tax Attorneys (NAPTA) and as the Co-Chair of the Real Property Tax Practice Committee of the New Jersey State Bar Association. Mr. Wolfe has been featured or quoted in a wide variety of local and national publications, including Forbes.com, GlobeSt.com, Marketwatch.com, The Washington Post, The Wall Street Journal, Law.com, Law360.com, The New York Law Journal, and Commerce Magazine.

Mr. Wolfe has a track record of obtaining significant assessment reductions on behalf

of his clients.

Examples of those assessment reductions include:

• Reduced hotel assessment from $188 million to $131million;

• Reduced multi-family assessment from $116 million to $67 million;

• Reduced office assessment from $115.5 million to $90million;

• Reduced supermarket anchored center from $66.9 million to $46 million;

• Reduced nursing home assessment from $36 million to $10.1million;

• Reduced big box retail assessment from $21.3 million to $13.4 million;

• Reduced office assessment from $27.8 million to $6.5million.

Mr. Wolfe began his career as an associate at the law firm of Davis Polk and

Wardwell in New York. While at Davis Polk, he focused his practice on regulatory

investigations, securities litigation and banking disputes.

Mr. Wolfe is a member of the American Bar Association House of Delegates and is

the Co-Chair of the ABA’s Diversity & Inclusion 360 Presidential Commission. As a

young lawyer, Mr. Wolfe served as the Chair of the ABA Young Lawyers Division, the

ABA’s largest entity with more than 130,000 members.

Mr. Wolfe received his J.D. from New York University School of Law, and graduated

from Cornell University with distinction in all subjects.

Developing Real Estate for 2019's Tenants

Aisha Glover

Aisha Glover

President & CEO

Newark Alliance

Michael Allen Seeve

Michael Allen Seeve

President

Mountain Development Corp.

Peter Cocoziello, Jr.

Peter Cocoziello, Jr.

Principal & Managing Director,Strategic Business Unit

Advance Realty

Karl Frederic

Karl Frederic

Partner

Windels Marx, Lane & Mittendorf

Adam Taylor
Moderator

Adam Taylor

Owner & CEO

Splendor

Aisha Glover

President & CEO

Newark Alliance

Aisha serves as the President & CEO of Newark Alliance, which plays a key role in leveraging the city's corporate and anchor communities' collective impact and helps carry out Mayor Ras J. Baraka's vision for inclusive economic growth.

Ms. Glover has over 15 years of experience as a convener, champion and agent for economic empowerment and social justice. She most recently served as the President & CEO of the Newark Community Economic Development Corporation, where she led the city's bid to attract Amazon's second headquarters, strengthened the small business ecosystem, introduced innovative programs that provided resources to women and minority entrepreneurs, supported over $4B in real estate development and led the attraction of corporations and businesses to the city.

Prior to joining the Newark team, Aisha served as the VP of External Affairs at the Brooklyn Navy Yard Development Corporation, the nonprofit organization that manages the city-owned Brooklyn Navy Yard, a national model for urban industrial development and job creation. There, she helped establish an exhibition and visitors center, oversaw strategic partnership development, community engagement, public affairs and fundraising and played a key role in supporting the Yard's growing economic development initiatives. Ms. Glover's impact there was informed by her tenure at the Center for the Urban Environment, New York City's largest provider of environmental education programs. There, she led a team that furthered the Center's environmental justice and education initiatives, helped create a local chapter of the nationally-recognized Small Business Alliance, and was instrumental in launching Green Brooklyn, the borough's first and largest sustainability event.

She holds a Bachelor of Arts Degree from Hunter College of the City University of New York, a Masters of Public Administration from Baruch College of the City University of New York and an executive leadership certificate from the Columbia Business School, School of Social Enterprise.

Michael Allen Seeve

President

Mountain Development Corp.

Michael Allen Seeve is the President and a principal of regional developer Mountain

Development Corp. Founded in 1979, MDC was originally formed to manage the real estate

portfolio of its Chairman, L. Robert Lieb. Since that time, MDC has steadily expanded by making

opportunistic investments in various locations, urban and suburban, throughout the Northeast.

Today, MDC manages a diverse collection of primarily commercial, retail and industrial assets

totaling almost six million square feet and spanning five States.

Ventures led by MDC include partnerships with some of the nation’s leading pension

fund advisors, family offices and other qualified investors and investments in almost every type

of commercial asset class. MDC has successfully completed projects with a high level of

complexity, such as the conversion of Dun & Bradstreet’s former Murray Hill headquarters into

the highly recognized Summit Medical Group campus in Berkeley Heights and the Mountain

Technology Center in Clifton; a former laboratory building which was converted into a data

center along with a new 215,000 s.f. multistory data center developed out of the ground. New

developments include 19 and 21 Roszel Road, two class A office buildings in West Windsor, the

first of which was completed in early 2015 and new acquisitions include Harbor Square in

Stamford, CT, 26 Main Street in Chatham, NJ, 67 Walnut Avenue in Clark, NJ, One Harmon Plaza

in the Meadowlands and 600 Parsippany Road in Parsippany, NJ. More detailed information

about MDC can be found on our website: www.mountaindevelopment.com

MDC is firmly committed to the communities in which it invests as witnessed by the

activities of its two principals.

Bob sits as Co-Chairman of the Bryant Park Management Corp. in New York City, the

public-private venture responsible the renovation and management of Bryant Park; as past

Chairman of the Public Health Research Institute in Newark, a nationally recognized scientific

research facility which leads in the fight against infectious disease; and as past Chairman of the

Passaic County 200 Club, which supports law enforcement, fire safety and other first

responders.

Michael is a past President of the New Jersey Chapter of NAIOP, which is the State’s

leading trade association for the commercial real estate development industry. The

organization, which currently has more than 700 members in New Jersey, focuses on advocacy,

professional advancement and industry best practices. Michael currently serves on the

chapter’s Executive Committee and its Developer’s Political Action Committee.

Michael serves as a public Trustee of William Paterson University, one of the State’s

public higher education institutions and is a past Chairman of the University’s Foundation. He is

also Chairman of the Paterson Special Improvement District, a public private partnership active

in the central business district of the State’s third largest City. Michael also serves on the

District VC Fee Arbitration Committee for Office of Attorney Ethics and, as well, on the Code

Advisory Group for the Codes and Standards division of the State of New Jersey Department of

Community Affairs. Michael is a past Chairman of the Barnert Hospital Foundation.

Michael was recognized as an honoree at William Paterson University’s annual gala in

2015. Mountain Development Corp. was recognized by NJ NAIOP as their annual awards dinner

in 1993, 2006 and 2012. Michael was Barnert Hospital’s Man of the Year at their 2006 Gala

and, in 2006, was named one of “Forty under 40” by NJ BIZ, and received the same recognition

in 2005 from Real Estate New Jersey magazine. He graduated from the University of

Pennsylvania in 1992 and lives in Montclair, New Jersey with his wife and their two sons.

Peter Cocoziello, Jr.

Principal & Managing Director,Strategic Business Unit

Advance Realty

Peter Cocoziello, Jr. is Managing Director of the Strategic Business Unit for Advance Realty, responsible for the identification and execution of new investments, and is active in the company’s asset management and development groups.

Peter has participated in the acquisition, disposition and management of more than $1 billion in commercial, retail, multifamily, industrial and mixed-use properties. He is involved in multi-use development projects with capitalization totaling more than $2 billion.

Upon his initial engagement at Advance Realty, Peter worked on developing and repositioning projects including 445 South Street, 100 Tice Boulevard and the Harrison Riverbend District. Each of these projects represents the largest and most significant transaction in its county - Peter assisted in obtaining pre-development approvals and financing for all of them.

Peter has experience in portfolio-level underwriting and financing, as well as in asset management, having served in day-to-day operational and management activities for more than 10 million sf of space in all product classes.

He currently sits on the Board of the Somerset County Business Partnership and serves as a trustee for the National Association of Industrial and Office Properties New Jersey (NAIOP NJ).

Peter holds a BS in industrial and labor relations from Cornell University, and an MS in real estate development from Columbia University.

Karl Frederic

Partner

Windels Marx, Lane & Mittendorf

Karl Frederic is a Partner with the law firm of Windels Marx Lane & Mittendorf, LLP. Has a multi-disciplinary practice focusing on real estate development, leasing, construction and related matters involving the full spectrum of real estate assets -- from retail centers and corporate headquarters to MetLife Stadium. He has a particular experience in real estate matters involving the pharmaceutical and bio-tech industries. He also advises on acquisitions and the repositioning and expansion of existing developed assets. As the cannabis industry has risen over the past few years, Karl has applied his experience in life sciences to the needs of this sector, and has developed significant contacts throughout the cannabis industry, including representing trade groups, cultivators and CBD start-ups. Karl frequently speaks and writes on cannabis and related topics. He can be reached at T: 732.448.2552 or E:

Adam Taylor

Moderator

Splendor

Adam Taylor is the Owner & CEO of Splendor, a full-service agency based in Red Bank, New Jersey. For the past several years, Splendor has been laser-focused on the commercial real estate industry, providing top regional developers and related businesses with insightful, strategic consultation along with award-winning design, branding, web, and marketing solutions. Under Taylor’s direction, Splendor has successfully branded and marketed over $1 billion dollars’ worth of commercial real estate in the Tri-State area.

Summary

1) What projects are developers looking to reposition and are there common trends between industry professionals?

2) What market factors should you consider when trying to pace your redevelopment with the expected downturn in the near future?

3) What programs is New Jersey implementing to support the active redevelopment of major urban centers along transit routes?

4) How are New Jersey's top developers keeping up with the increasing demand for industrial space?

5) How will Governor Murphy's new Economic Plan affect current and future repositioning projects in New Jersey?

Agenda

Time Activity
12:00 PM
1:00 PM
Breakfast & Networking
1:00 PM
1:45 PM
Value-Add Investment in New Jersey
1:45 PM
2:30 PM
Developing Real Estate for 2019's Tenancy
2:30 PM
3:00 PM
Post Event Networking