ULI Is Underway
We’re on the ground covering the national ULI Fall Meeting this week and kicked things off with last night’s Women’s Leadership Initiative party at MiMA’s Pershing Square Signature Theater. We snapped Brickman’s Kathleen Corton, Katten’s Vicky Shusterman and Tim Little, and Jonathan Rose Cos’ Wendy Rowden. Earlier yesterday, Wendy’s company and TIAA-CREF announced the $51.6M Rose Affordable Housing Preservation Fund. Managed by Jonathan Rose, it’ll feature that company's signature green retrofits and focus on the DC to Boston corridor, Chicago, Denver, LA, San Francisco, Portland, and Seattle. (It's doing a better job hitting out bucket list cities than we are.)
Atalanta Advisors' Annu Chopra (whom we snapped with Canyon Capital Realty Advisors’ Peggy DaSilva and L&L’s Laura Yablon Rapaport) tells us funds are diving into multifamily deals in secondary and tertiary markets. She also says a flurry of fundraising in the first half of the year means funds are closing on their first deals now and looking at more markets and older properties to get their mandated risk-adjusted yields. Laura is busy with 425 Park, the avenue’s first full-block office building in 47 years. The Lord Norman Foster-designed building will break ground in May and deliver in summer 2018 with Central Park views, an amenity floor, column-free floors, floor-to-ceiling glass, and ceiling heights from 9 feet six inches to 38 feet.
W3 Partners co-CEO Diane Olmstead is in from San Francisco for the conference, joining McCaffery Interests’ Kirsten Ekdahl Hull from Chicago, The Prescott Group’s Susan Stupin, and iStar Financial chief investment officer and Bisnow New York Power Woman Nina Matis. Kirsten, one of the ULI Women's Leadership Initiative Scholarship awardees, recently joined McCaffery, working on strategic asset management of the University of Chicago in Hyde Park's commercial real estate portfolio.