Philadelphia 2023 Forecast

Born to Lebanese parents in Cairo, a historic, vibrant and dense city that is anchored by one of the oldest universities in the world, Omar Blaik’s commitment to urban environments and higher education runs deep. As an immigrant, first as a Lebanese citizen in Egypt and later as an Arab American, Omar thrives in the spaces that bridge across communities and cultures. He founded U3 Ventures LLC, a predecessor of today’s firm, in 2006 with the belief that anchor institutions hold the key to sustainable community and economic development for their cities. Omar’s work engages university presidents and trustees, philanthropic leaders, government officials, and community organizations to unlock higher education, healthcare, and other non-profit institutions in order to transform themselves and their communities. Since 2006, Omar has overseen U3’s efforts to regenerate two neighborhoods in Detroit – Midtown and the McNichols Corridor; the Memphis Medical District; College Park, Maryland (the home of the University of Maryland), and Chicago’s South Side, home to the University of Chicago. Prior to forming U3, Omar was the Senior Vice President of Facilities and Real Estate at the University of Pennsylvania from 1996 to 2006. Under his management, Penn embarked on more than $2.0 billion in new construction and $700 million of real estate development projects, which transformed the campus and the surrounding community. During his tenure, Penn received multiple AIA and Business Week awards. Omar came to Penn from Coopers and Lybrand, where he led a team of consultants providing real estate, facilities, operation and capital programs expertise. Omar is a founding member of ULI’s University Development and Innovation Council. He and his team were nationally recognized in 2003 when the University of Pennsylvania received the prestigious ULI Global Award of Excellence, a first for a university, and again in 2013 for Midtown Detroit Inc. Omar’s writing has been published in national publications and he is a frequent public speaker on the topic of anchor institutions, community and economic development.

Paul L. Badger Jr. is the President and CEO of THE BADGER GROUP. He has over twenty years of combined entrepreneurial and professional experience as the Founder and CEO of THE BADGER GROUP, LLC, and while working with industry leading Fortune 500 companies. Through his various roles, Mr. Badger has developed expertise in real estate development, investment, management and sales, consumer marketing and project management, and professional sales. He has a well established track record of success managing businesses, products and individuals while increasing market share and profitability. In 1996, Mr. Badger founded THE BADGER GROUP. Since then, his accomplishments as a real estate developer include the successful acquisition and development of properties throughout Philadelphia and its surrounding counties while maintaining consistent, controlled, growth. He has established an expertise in both single family and multifamily development, as well as new construction, adaptive re-use of existing structures, and land development. Current ventures include residential, commercial, mixed use, and hotel development and acquisition. Mr. Badger conducted his formal education at Morehouse College, graduating cum laude with a BA degree in Business Administration with a concentration in marketing. He went on to earn his M.B.A. from the Kellogg Graduate School of Management at Northwestern University with a triple major in marketing, finance, and management strategy. In addition, Mr. Badger studied real estate at Temple University’s Real Estate Institute, and is licensed to practice real estate in the state of Pennsylvania. Mr. Badger is an active member of the community serving in both a civic and professional capacity in the following roles: BOARDS AND AFFILIATIONS • Vice Chair, The Development Workshop • Board of Directors, The BIA (Building Industry Association) • Board of Directors, HAPCO (Homeowners Assoc of Philadelphia). • Mayoral Appointeee, Lead Poisoning Prevention Committee • Mayoral Appointeee, Eviction Prevention Task Force • Mayoral Appointee, Board of Directors and Past Vice Chair, Philadelphia Land Bank • Mayoral Appointee, Bord of Directors, PHDC Accelerator Fund • Selected, Regulatory Reform Sub-Committee • Selected, PIDC Finance Advisory Committee • Selected, Advisory Board for the Philadelphia Housing Authority’s HCV Program (Section 8) • Chair, Founder, and/or Leader of 5 Diversity and Inclusion Committees including: The Development Workshop, BIA, PAGE Initiative, Wissahickon School District, AAREP-P • Elected, Board of School Directors, Wissahickon School District • Member, Morehouse Alumni Association • Member, Northwestern Alumni Assoc., Kellogg Business School BMA • Member, Kappa Alpha Psi Fraternity, Inc. • Member, National Black MBA Association (NBMBAA) • Member, National Association of Black Hotel Owners Operators and Developers (NABHOOD) • Member, Urban Land Institute (ULI) • Co-Founder, African American Real Estate Professionals – Philadelphia (AAREP-P)

Scott’s real estate development career began in full force in 1990, 27 years ago. With his partner Jim Levin, they founded Neighborhood Restorations, an affordable housing development company, and set out on a mission of restoring abandoned and blighted single-family homes in West Philadelphia. They gutted, rehabbed and developed over 1000 houses including nearly 1200 units for low-income families with a total investment of nearly $200 million while employing more than 50% local minority contractors over their entire history. Additionally, Neighborhood Restorations moved their offices into the heart of West Philadelphia at the former Oliver Wendell Homes Middle School, the first middle school in the United States. There, they completed a historic restoration and preservation of the entire building, including 42 units for senior citizens and a magnificent auditorium used for both seniors and community activities. In 2009, Scott established University Place Associates with a firm commitment to social responsibility and environmental sustainability. His hope in contributing to and developing a world-class ‘Platinum Corridor®’ on Market Street, centered at the 40th Street transit hub, is that this effort, including bringing new jobs and new energy, will become a place for all to enjoy!

Fred Harmeyer, Principal & Portfolio Manager, Rubenstein Partners. Fred is responsible for all aspects of the Rubenstein Mortgage Capital investment platform. Previously, he was the Regional Head of Capital Markets for Cushman & Wakefield, where he oversaw the firm’s Investment Sales and Equity/Debt Finance groups nationally. Prior to C&W, he served as Partner and Head of Debt Investments at High Rise Capital Management, a leading real estate securities investment manager. He joined there from Merrill Lynch, where he formed and was head of the commercial real estate large loan group. Earlier, Fred was with Morgan Stanley in the Securitized Products Group, and was also a top-ranked Equity REIT Research Analyst at the firm. Fred began his career practicing law with Cravath, Swaine & Moore. He received a B.A from Yale University and a J.D. from the University of Virginia School of Law.