Washington DC State of the Market

Muriel Bowser serves as Washington, DC’s seventh elected Mayor. Sworn in on January 2, 2015, she pledged to bring a fresh start to the District of Columbia, create pathways to the middle class for residents, and foster a culture of inclusion, transparency and action. Mayor Bowser expanded opportunity across all 8 Wards of DC by strengthening job training programs, and by attracting and retaining jobs in the District. As of the first quarter of 2016, there are burgeoning projects across the city that will eventually deliver 32,000 new jobs. Washington, DC is the economic engine of the metropolitan region, and has one of the strongest local economies in the country. Mayor Bowser is committed to producing, protecting and preserving affordable housing. In her first budget, she devoted an historic $100 million to the Housing Production Trust Fund, putting an unprecedented number of affordable housing units into the pipeline. She also made historic investments in education to accelerate the pace of education reform. DC has the fastest improving urban school district in the nation. The Mayor is committed to making sure every Washingtonian gets a fair shot, including its most vulnerable residents. When she came into office, she pledged to end homelessness. She has taken bold moves to deliver on that commitment, including releasing a plan to replace the city’s largest family shelter with small, dignified family housing. In everything she does, the Mayor puts District residents first, and ensures that the city’s priorities match the peoples’ priorities. She holds community engagement forums to solicit public input prior to finalizing her fiscal year budget. She is creating a more transparent and open government through a cutting edge open data policy. She championed the successful launch of one of the largest, most transparent body worn camera programs in the nation, to enhance trust between the community and DC’s metropolitan police department. And she launched an inclusive technology program to support startups and entrepreneurs offering products and services to underserved communities. Prior to her time as Mayor, Bowser served as the Ward 4 councilmember of the DC Council – first elected in a special election in 2007, and re-elected in 2008 and 2012. As a Councilmember, Bowser served as the Chairwoman of the Committee on Economic Development which created more than 5,000 units of affordable housing, passed legislation to build a new soccer stadium and secured from the federal government the best portion of the Walter Reed campus for DC. Bowser led her colleagues to pass comprehensive ethics reform and increased transparency in government contracting. Bowser also served as an Advisory Neighborhood Commissioner in the Riggs Park neighborhood. A native Washingtonian, Bowser earned a Bachelor of Arts degree in History from Chatham University and a Master’s degree in Public Policy from American University.

Ernest (“Ernie”) Drew Jarvis is a recognized leader with exceptional knowledge of, and relationships in, the region’s commercial real estate and business communities. Combining unique roles in management, tenant representation, and asset ownership responsibilities, he has the depth of experience to craft the very best real estate strategies. Ernie has had senior leadership roles in two publicly traded commercial real estate companies, including having served as CBRE’s Washington, D.C. Market Leader, one of CBRE’s largest offices. During his tenure, Ernie managed over 60 brokerage professionals and over 10 different specialty groups. Prior to his leadership role, Ernie represented the real estate interests of a diverse group of clients, ranging from the American Red Cross, Fannie Mae Foundation, and Radio One’s national headquarters, just to name a few. Most recently, Ernie collaborated with First Potomac Realty Trust’s (NYSE: FPO) leadership team to create and implement a strategy for expanding its Washington, D.C. office portfolio. The company hit that goal. Additionally, Ernie created D.C. regional leasing goals and achieved an over 90% leased office portfolio. Ernie also played an integral role in the successful renovation of 440 1st Street, N.W. As a fifth generation Washingtonian, Ernie has worked diligently to become part of the fabric of the community. He has been cited in a number of periodicals including the Washington Post, the Washington Business Journal, Globe St., Bisnow, and other industry periodicals. Ernie has taken an active role in the business community and has served in leadership positions in a number of prominent organizations. In addition to this service, Ernie was named to Washington Business Journal‘s “Power 100”– the most influential regional business leaders. Ernie is a graduate of Southeastern University.

Nina M. Albert serves as the Commissioner of the Public Buildings Service (PBS) at the U.S. General Services Administration (GSA). As PBS Commissioner, she manages the nationwide asset management, design, construction, leasing, building management and disposal of approximately 371 million square feet of government-owned and leased space across the United States and six territories. Albert brings 20 years of experience in public real estate disposition, public-private partnership negotiations, economic revitalization, and sustainable development to GSA. Albert most recently served as Vice President of Real Estate and Parking at the Washington Metropolitan Area Transit Authority (WMATA), where she managed a multi-billion dollar real estate portfolio. While working at the District Department of Environment, Albert led the design and development of a first-of-its-kind $250 million energy efficiency financing program targeting commercial and multi-family property owners. As the Anacostia Waterfront Initiative Manager, she oversaw a $1.3 billion redevelopment project in Washington D.C., including a 2,800-acre waterfront revitalization program. A military veteran, Albert served as a first lieutenant and Company Executive Officer of the U.S. Army Signal Corps. Albert holds a Master of Business Administration and Master of City and Regional Planning from the University of North Carolina Chapel Hill and a Bachelor of Science in Mechanical Engineering from Tufts University.

Since 2005, Darian LeBlanc has managed Cushman & Wakefield’s Government Services Group, which specializes in representing building owners pursuing federal interests. Darian brings more than 20 years of experience to the team, during which he has overseen federal real estate transactions nationwide valued at over $6.5 billion. Darian is annually recognized by several organizations, including the Commercial Real Estate Brokerage Association of Greater Washington, DC (CREBA), the National Association of Industrial and Office Properties (NAIOP), and the Washington Business Journal (WBJ) as a Top Broker in the National Capital Region. He is a multi-year winner of CREBA’s Best Lease Transactions in Washington, DC, Maryland and Virginia, as well as a multiyear winner of WBJ’s award for Best Lease Transaction in both the Urban Office and Suburban Office categories. Darian has been a Top 10 CREBA Leasing Broker every year since 2008 and was the Top (#1) Federal Broker in the Washington, DC Region in 2008, 2009, 2010, 2011, 2015, and 2017. In 2018, Darian was the recipient of the James L. Eichberg Broker of the Year Award. Darian has received numerous NAIOP awards for Best Real Estate Transaction and was named one of the top 40 business leaders in Washington, DC under the age of 40 (“Top 40 Under 40” Award) by the Washington Business Journal.

Bob Youngentob is Executive Chairman of EYA, LLC and one of the founding partners. His responsibilities include product and site visioning, investor relations, investment committee leadership, and strategy, particularly in acquisition and development. Bob has over 30 years of real estate experience. Bob currently serves on the Board of Advisors for The Universities at Shady Grove and the Terwillinger Center of the Urban Land Institute. He is a former chair of the Washington D.C. District Council of the Urban Land Institute and currently is chair of its Governance Committee. Bob has served on multiple private school boards including The Maret School and Green Acres. He has been a guest lecturer on real estate at the Harvard Business School, Georgetown University, University of Maryland and Johns Hopkins University, and has spoken at numerous conferences sponsored by the Urban Land Institute and Builder Magazine. In 2016, Bob was inducted into the W.H. Marvin Hall of Fame for Design Excellence. In 1996, he was recognized as an Entrepreneur of The Year by Ernst and Young. Bob grew up in the Washington D.C. area, graduated from Lehigh University, and earned a MBA from the Harvard Business School.

Shawn Seaman joined Hoffman & Associates in 2001 and currently leads the acquisitions and development activities for the company. Since 2006, Seaman has acted as Project Director for The Wharf, where he has managed the development team and all aspects of the project development, including design, entitlements, financing, and implementation. Seaman is a LEED®-AP certified professional and leads the company’s sustainable design initiative. Seaman has more than 20 years of project experience in real estate development, urban design, town planning, architecture, and retail strategy, with projects throughout the United States. Seaman holds a degree in Architecture from the University of Miami, and a master’s degree in Architecture and Urban Design from the University of Pennsylvania. He also holds a real estate design and development certificate in conjunction with the Wharton School at the University of Pennsylvania. Seaman is a registered architect in the state of Florida and the District of Columbia.

John Begert has 22 years of experience in the multi-family industry and pursues multi-family residential and mixed-use acquisition and development opportunities for MRP Realty. Prior to joining the firm in early 2011, Mr. Begert worked for JPI Mid Atlantic for over ten years and oversaw the acquisition, entitlement, development and construction of over 2,000 residential units valued at over $450 million in the Mid Atlantic region. Mr. Begert has multi-family acquisition and development experience across a variety of product types and jurisdictions in the Mid Atlantic region. Mr. Begert has developed high-rise, mid- rise, and urban-wrap rental products as well as mixed-use urban condominium product in Washington, DC.

Evens Charles is the founder and managing principal of Frontier Development & Hospitality Group LLC. A native of Washington, D.C, Mr. Charles attended Temple University in Philadelphia, Pennsylvania where he was a Big East Conference Division-I football athlete. During his five-year athletic tenure at Temple University, he earned a B.A. in Psychology and a Master of Education. Shortly thereafter, at the age of 25, Mr. Charles was inspired by his landlord to execute his first small transaction that required an out-of-pocket investment of $1,000 resulting in a $25K profit six months later. Mr. Charles organically grew over a ten-year period by executing several successful residential and multi-family acquisition and development projects, then by the age of 36, made his first hotel investment. He has since grown Frontier to over a $200 million capitalized portfolio of Hilton and Marriot Internationally branded hotel assets across six states, with another $560 million of urban infill, commercial real estate development in its pipeline. Some of his recent accomplishments includes being recognized as the lead developer of DMPED’s 2021 award of the Hill East Bundle II Project, which is 1.2 million square feet of waterfront, mixed-use development in Washington DC; The 2021 Business of the Year by Prince Georges County Bi-County Business; 2019 Black Enterprise largest 100 Black Owned Businesses in the nation and the 2019 Outstanding Entrepreneur Award by the Caribbean American Heritage. He has been featured in various publications including Hotel Business, Lodging Magazine, Black Enterprise & Business Journals across multiple cities. He has an endowed scholarship in his name at Temple University targeting underserved students, supports many philanthropic causes and serves as a mentor to many. He is also a member of Temple University’s School of Hospitality & Tourism Board of Visitors, member of the Real Estate Executive Council (REEC), as well as industry organizations such as the National Alliance of African American Hotel Owners and the Asian American Hotel Owners Association.

Jessica Lee advises clients in complex commercial transactions, from public-private partnerships to multi-million dollar construction financings. As a member of the Real Estate group, Jessica regularly advises clients on the acquisition, development and leasing for a wide variety of projects. She has an extensive array of experience representing developers, borrowers, real estate investment trusts and both commercial landlords and tenants.

Cameron Pratt has more than 15 years of real estate investment and operating experience and has been with Foulger-Pratt since 2004. As CEO, Mr. Pratt establishes the Company’s strategy and vision and has oversight of all Foulger-Pratt operating and investing entities. Prior to joining Foulger-Pratt, Mr. Pratt worked in real estate development in California, as well as real estate investment banking and private equity in New York. Mr. Pratt holds a Bachelor of Science in Civil Engineering from Brigham Young University and a Master of Business Administration from Harvard Business School.

Gary oversees Management and Leasing performance of Willco’s portfolio. In addition, Gary is involved in special development projects. Gary brings 22 years of experience in many facets related to real estate development and investment. He has spent the last 15+ years running Willco Residential (www.willcoDC.com) developing more than $50,000,000 of Multi-Family condos and apartments throughout Washington, DC. Prior to Willco Residential, Gary worked at Axent Realty running the property management and leasing departments. Prior to joining Axent Realty, Gary worked for Newmark Companies in New York City as an Assistant Property Manager for over 1,000,000 SF of commercial space throughout the city. Gary has also been involved in charter schools in Washington, DC serving on the board of KIPP DC and Founding Board Chair of Inspired Teaching Public School. Gary received a BS degree from Syracuse University and a MA degree from Pace University.

Maura is a talented, dynamic leader and urban planning professional who has been engaged for many years in advocating to advance Washington, DC’s broad public interests, including the creation of affordable housing, supporting the region’s public transit system, and improving public spaces. As President and CEO of the NoMa Business Improvement District (BID), Maura oversees all activities of the NoMa BID and is responsible for executing the organization’s strategic mission in partnership with the BID’s exceptional Board of Directors and staff. With a background in urban planning, Maura has spent her entire career in DC, working on issues related to housing, transportation, and the economy. Maura has a unique appreciation for the value of coalition-building among broad and diverse stakeholder groups, having worked in both community-focused and business-driven organizations. Maura is excited about all of the opportunities on the horizon for NoMa, and is mindful of the important role that the BID will play in shaping the future of the neighborhood. Maura sits on the Board of Directors of the Union Station Redevelopment Corporation (USRC) and as Vice President of DC Sustainable Transportation (DCST). She holds a B.S. in Business Administration from Elon University and a MPS in Urban and Regional Planning from Georgetown University.

Melissa Lee, CTP is the Senior Vice President of Capital and Investments at The Menkiti Group where she is responsible for structuring and growing the capital, investment, and fund management activities of the organization. Melissa brings over two decades of finance experience with expertise in investment management and treasury management across multiple industries. Melissa has delivered a range of finance activities at organizations that include Amtrak, Pepco Holdings, Inc., and Chevy Chase Bank (acquired by Capital One in 2009). Previously, Melissa oversaw a $2+ billion real estate portfolio at the Maryland State Retirement & Pension System with the responsibility for advancing the asset class strategy through the deployment of capital into domestic and global private real estate funds. Formerly, Melissa served as the Director of Treasury Operations at the Washington Metropolitan Area Transit Authority (WMATA), where she executed the organization’s cash, debt, and investment strategy. In addition, she served as a Trustee on several of WMATA’s Retirement Plans. Most recently, Melissa served as the Founder and Managing Principal of Lee Squared Consulting Group, LLC where she developed financial strategies for community development organizations. Melissa holds an MBA from George Washington University, a BBA in Finance from the University of the District of Columbia, and the Certified Treasury Professional (CTP) designation from the Association for Financial Professionals.

Craig Panzirer joined Global Holdings Management Group (US) Inc. in 2017 as Senior Vice President – Director of Leasing. Global Holdings is an international alliance of real estate asset management and investment advisory companies operating across the United States, United Kingdom and Europe. Responsible for the leasing of over 7 million square feet across New York , DC and Montreal, Mr. Panzirer has completed over 2.5 million square feet of leasing and has spearheaded the $130 million repositioning of Nomad Tower. By introducing one of the most robust tenant amenity centers, Global Holdings transformed the asset into NoMad’s prime Class A office building, resulting in leases in excess of 450,000 square feet to major TAMI tenants Zillow, Transperfect, MWW and Gunderson Dettmer LLP. Since acquiring Washington Harbour in 2018, Global Holdings has continued to invest in the property, keeping it at the forefront of the Georgetown and DC submarkets. More recently, the renewal of major office tenant Foley Lardner for 95,000 rsf confirms the Washington Harbour’s continued role as a thriving, mixed-use destination steps away from historic Georgetown. Global Holdings also has plans to enhance the tenant only fitness center and has created Harbourtown, an elevated prebuilt concept with waterfront views.

Current • Principal, Ryan, Washington, D.C. office ─ Specializes in commercial real estate appeals for new construction, redevelopment, and income-producing properties, including office, multifamily, hospitality, and mixed-use properties. ─ Extensive expertise in appeals of new construction supplemental values and tax rate classifications for development sites. ─ More than 15 years of experience advising clients, resulting in the minimization of tax from due diligence through disposition. Previous • Director, Property Tax, Ryan, Washington, D.C. office • Manager, Ryan, Washington, D.C. office ─ Extensive commercial real estate appeal experience in the District of Columbia, Maryland, and Virginia. ─ Attained substantial real property tax savings in every major jurisdiction in Maryland, Virginia, and the District of Columbia. ─ Graduate, Leadership Development Program, Ryan • Team Leader, Ryan, Washington, D.C. office • Senior Consultant, Ryan, Washington, D.C. office • Trainee Appraiser, global real estate services firm ─ Prepared appraisals for multifamily, office, industrial, hotel, and mixed-use properties. • Associate Consultant, State and Local Tax Services, national property tax firm PROFESSIONAL AFFILIATIONS • Apartment and Office Building Association/Building Owners and Managers Association, Metropolitan Washington, D.C. • Appraisal Institute • Certified Commercial Investment Member (CCIM) Institute • District of Columbia Building Industry Association • Institute for Profesionals in Taxation EDUCATION/ACCREDITATION • Bachelor of Arts Degree, Political Economy, Georgetown University • Certified Member of the Institute (CMI), Institute for Professionals in Taxation • Appraisal Institute – Courses: Advanced Income Capitalization and Prerequisites and Separating Real Property, Personal Property, and Intangible Assets • CCIM – Courses: Financial Analysis for Commercial Investment Real Estate and Market Analysis for Commercial Investment Real Estate • Institute for Professionals in Taxation Symposiums and Advanced Training Seminars

William Kinney has more than 18 years of experience in public accounting and specializes in providing audit and assurance services to numerous industries, including real estate and construction. His expertise includes working across the spectrum of real estate asset classes and entity structures, from single property LLCs to multi-billion dollar REITs. William is a licensed Certified Public Accountant in the state of Maryland. He obtained a Bachelor of Business Administration with a major in accounting from Georgia State University.