The Sixth Annual Washington State of the Market

Chip Akridge, Founder and Chairman of the commercial real estate firm bearing his name, is an innovator in the industry, a committed advocate of community initiatives in the Washington, DC, region, and a dedicated supporter of philanthropic and charitable organizations. Chip founded the firm in 1974 to specialize in commercial real estate in downtown and suburban Washington, DC. Since then, Akridge has acquired, developed, or entitled more than 14 million square feet of office, industrial flex, residential, retail, and entertainment space in the metro area. As chairman of the company, he is responsible for corporate oversight and strategic planning. He continually focuses on developing the highest-quality products and delivering superior Client service. Chip leads the commercial real estate sector in regulatory, legislative, and financial changes in Washington, DC. He was the first to use the “Woodies Act,” which enables developers to lease the air-rights above and below a public area in order to join properties. Chip was also the first to use the DC Tax Increment Financing Program to build a mixed-use complex that revitalized the city’s downtown core. He worked closely with the city government to develop innovative legislation that created the housing linkage program, Business Improvement Districts, and regulatory guidelines to improve the water quality of the Anacostia River. Chip has served as a member of the Economic Development and Executive Committees of the Federal City Council, and as chairman of the Greater Washington Board of Trade’s Emergency Preparedness Task Force. He has received numerous industry awards. A strong advocate for the environment, he has served on the Board of Trustees of the Chesapeake Bay Foundation, the Nature Conservancy of Maryland/DC, and various agencies of the city government. Chip testifies frequently in support of environmentally friendly legislation before the DC Council, and the Maryland State House and Senate. He is committed both personally and professionally to sustainable building design – earning numerous Smart Growth awards, more than any other developer, and the LEED Accredited Professional designation. He is also an EPA Energy STAR partner and has been recognized by the Garden Club of America for his environmental work. Chip is a leader in philanthropic and civic organizations throughout the Washington, DC, area. He is the founder and chairman of the Trust for the National Mall, a non-profit created to assist the National Park Service to restore and improve The National Mall. Previous philanthropic leadership initiatives include: chairman of The John Akridge Homeless Foundation, member of the Board of Directors of the National Alliance to End Homelessness, member of the Board of Trustees of The Georgia Tech Foundation, and member of the President’s Advisory Board of the Georgia Institute of Technology. Chip is a Distinguished Eagle Scout and a Vietnam veteran. He earned a Bachelor of Science in Mechanical Engineering from the Georgia Institute of Technology and a Master of Business Administration in Finance and Real Estate Development from Harvard University.

Tom Bozzuto is Chairman and Co-Founder of The Bozzuto Group, a diversified and full-service real estate company that recently celebrated its 30th year in business. An entrepreneur, philanthropist and veteran of the Vietnam War, Tom is a longtime supporter and champion of the Baltimore community, is actively involved in national housing policy and is very dedicated to higher education. He is a graduate of Hobart College and has a master’s degree in Metropolitan Studies from The Maxwell School at Syracuse University. During his more than 45-year career in real estate, Tom and his partners have overseen the development and construction of more than 50,000 residences. Together they created a company that annually starts more than 1,000 homes and apartments and that currently manages 70,000 apartments. Under his leadership, The Bozzuto Group has earned recognition from the National Association of Home Builders as Builder of the Year, Multifamily Development Firm of the Year and, three times, Property Management Company of the Year. Among many other awards, the firm has been repeatedly recognized for its company culture as a Best Place to Work, including seven times by the Washington Business Journal, three by the Washington Post and nationally as a top ten company by Multifamily Executive Magazine. Further, as a testament to Bozzuto’s commitment to diversity and inclusion, The National Association of Female Executives recently selected the firm as a Top Company for Executive Women. In addition to his business activities, Tom has had a long career of community involvement and leadership. He served as President of Baltimore Citizens’ Planning and Housing Association, Chair of the Maryland Science Center, Chairman of the National Multi-Housing Council and Vice President of the Walters Art Gallery. He is currently serving as Chairman of the Board of Trustees at Hobart & William Smith Colleges. In addition, he is a member of the Advisory Board of the Harvard Joint Center for Housing Policy, a Board Member of Greater Baltimore Committee and a member of the Board and Executive Committee at the Baltimore Community Foundation. A Senatorial Appointee to the Millennial Housing Commission, and several times a member of the Governor’s Housing Commission, Bozzuto has earned numerous awards and recognition for his professional achievements, including the Urban Land Institute’s Lifetime Achievement Award. As part of the first generation of his family to attend college, he and his wife, Barbara, established the Thomas S. Bozzuto ’68 Endowed Scholarship Fund, the Bozzuto Family First-Generation Endowed Scholarship, and the Bozzuto Center for Entrepreneurship at Hobart and William Smith. He was recently awarded an Honorary Degree in Humane Letters by the Colleges. In addition, The Bozzuto Group’s founder and chairman shares personal reflections and words of wisdom in his recently published book, Reflections of an Ordinary Man. You can preview and purchase the book on Amazon by clicking here.

Linda Rabbitt founded rand* construction in 1989, and was one of very few female leaders in the industry at the time. She is still an active leader as Owner and Chief Executive Officer, and is responsible for setting the strategic vision for the entire organization. Linda provides executive direction, manages client services, and oversees all aspects of corporate and financial operations. Under her leadership, rand* has grown into one of the top general contractors in the DC metro area and has expanded on a national scale with licensure to perform construction services in over 26 states. Her knowledge of the industry and professional experience has enabled rand* to deliver award-winning work for a vast client base. With a focus on innovation, quality and customer service, Linda continues to be actively involved in the firm’s expansion and performance in all local markets, the cultivation of client relationships, and the management and oversight of company-wide strategic development.

With more than 35 years of leadership experience in commercial real estate, Mitchell Schear ran two of Washington’s most influential real estate companies owning and developing some of the most iconic office and residential projects in DC. Today, Mitchell has turned his focus to “PropTech”, the dynamic intersection of the burgeoning new creative/tech sector and traditional brick and mortar. From 2019 - 2023 Mitchell was an Executive Partner at Camber Creek, effectively combining his passion for PropTech with his wealth of commercial real estate experience. Camber Creek is the longest standing real estate technology venture capital firm with a proven and successful track record of investing in emerging real estate technology market leaders, catalyzing growth for those companies, and achieving outsized returns for its investors. In his role at Camber Creek, Mitchell focused on selecting portfolio companies to invest in, and then cultivating and growing them. He brought investing, operating and leadership experience and expertise across a broad range of real estate verticals, including development, leasing, construction and property management. From 2003 until 2017, Mitchell was President of Vornado/Charles E. Smith, the DC division of Vornado Realty Trust, a $20 billion real estate investment trust. In that role, he directed the strategy, performance and growth of Vornado’s extensive 20+ million square foot portfolio in the Washington DC region. In Arlington, VA, his forward-thinking, placemaking vision transformed Crystal City (now “National Landing”) into a vibrant, creative community that became home to a growing innovation hub and great restaurants/retail concepts. From 2017 – 2020, Mitchell served as a board member for JBG SMITH, a successor company and the largest real estate company in the Washington metropolitan area. Prior to joining Vornado in April 2003, Mitchell spent 15 years at The Kaempfer Company, where, as President, he oversaw all of the company’s development, leasing, and management activities. In 2021, Mitchell was appointed to the Smithsonian Institution’s Board of Regents Facilities Committee where he will work to provide leadership and oversight for the revitalization and maintenance of the vast real estate holdings of Smithsonian. He is also involved in a variety of organizations and charities, including Higher Achievement where he rallied the real estate and business community to raise more than $1 million annually for this organization dedicated to helping at-risk middle-school kids excel and succeed. In 2016, Mitchell was honored by Higher Achievement for his extraordinary leadership and commitment. For many years, Mitchell has been a value-add member of numerous private and public boards, task forces, and advisory committees. In 2015, he was honored by Transwestern as Trendsetter of the Year in recognition of his legacy of innovation, quality and many contributions to the Washington community. In 2007, Mitchell was recognized by the District of Columbia Building Industry Association (DCBIA) with its highest honor, the Achievement Award.

Federal Realty is one of the oldest real estate investment trusts (REITs) in the country and was formed in 1962 here in the Washington D.C. area. Federal is a publicly owned company trading on the New York Stock Exchange (NYSE:FRT). The company is a proven leader in the ownership, operation and redevelopment of some of the best recognized and special retail destinations in the country including Bethesda Row, Pentagon Row and Congressional Plaza in suburban D.C.; Santana Row and Third Street Promenade in California; Barracks Road in Charlottesville Virginia and 80 more interesting and community-enhancing shopping environments. The company is and has been guided by New Jersey native Don Wood since 2002 who, along with a dedicated and passionate management team and their staffs, is committed to a philosophy of balance in all that they do. From environmental and socially responsible initiatives and operations, to supporting the communities in which they do business, to the creation of true retail social destinations that improve the quality of life for many, to providing a superior return to its stakeholders; Federal Realty is proud of its long history and corporate citizenry. Don has been with Federal Realty since 1998, where he is a Trustee and has served in positions from Chief Financial Officer to Chief Operating Officer to President before being named its Chief Executive in 2002. Prior to his affiliation with Federal, Don spent 8 years at New York-based ITT Corporation where he served in various capacities, including Deputy Controller and Chief Financial Officer, of wholly-owned subsidiary Caesars World, Inc. The first 7 years of his career were spent at accounting firm Arthur Andersen, leaving in 1989 to work for client Donald Trump as the Vice President of Finance for the newly acquired Trump Taj Mahal casino in Atlantic City, NJ. Don is very active charitably through his work with the Cystic Fibrosis Foundation. In 2002, Don took the reins of the Breath of Life Gala, at the time a fledgling event supporting Cystic Fibrosis research, and, with the help of a committed and tenacious team of volunteers and CFF staffers, grew the Gala into what has consistently been one of the most financially and experientially successful events in Washington D.C. and the number one gala nationally for the Cystic Fibrosis Foundation. Don’s daughter, Rachel, was born with the genetic disease. Don received his Bachelor of Science degree from Montclair State College in 1982, where he graduated with honors and subsequently received his CPA from the state of New Jersey. He is a past chair of the National Association of Real Estate Investment Trusts (NAREIT), has served as a member of the Executive Committee of the International Council of Shopping Centers (ICSC), and also serves on the Board and Chairs the Investment and Strategic Advisory Committee of Post Properties (NYSE:PPS), an Atlanta-based apartment company. He is also a member of the U.S. Capital Chapter of the World President’s Organization (WPO), and was previously named “Entrepreneur of the Year in Real Estate” by professional services firm Ernst and Young. He has been married to Stacey Sykes Wood for 26 years and has four children who he is immensely proud of named Ian (24), Jason (22), Kevin (21) and Rachel (21).

Katie Keenan is a Senior Managing Director in the Blackstone Real Estate Debt Strategies (“BREDS”) group and Chief Executive Officer of Blackstone Mortgage Trust (NYSE:BXMT), a publicly-traded commercial mortgage REIT managed by Blackstone. Ms. Keenan leads all aspects of BXMT, a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe and Australia. Ms. Keenan is also involved in commercial debt investments across the global BREDS platform and is based in New York. Before joining Blackstone in 2012, Ms. Keenan held positions at G2 Investment Group, Lubert-Adler Real Estate Funds and in the Real Estate Investment Banking Group at Lehman Brothers. Ms. Keenan graduated cum laude with an A.B. in History from Harvard College. She sits on the Board of Directors of Getting Out and Staying Out and the Advisory Board of Governors of NAREIT, and is a member of WX New York Women Executives in Real Estate.

Ronald D. Paul is the Chairman of the Board of Directors and Chief Executive Officer of Eagle Bancorp, Inc. and EagleBank, a community bank established in 1998 in Bethesda, Maryland. He has been involved in community banking for 28 years. Mr. Paul is one of the founding board members of the Bank, and has been instrumental in the growth of the Bank’s size to over $5.5 billion in assets and over 20 offices. EagleBank is the largest community bank headquartered in the Washington DC Area. Rated BBB+ by Kroll Bond Rating Agency, EagleBank is a member of the Independent Community Bankers of America, the Maryland Bankers Association and the Virginia Bankers Association. EagleBank has consistently been cited for its excellent overall financial performance by recognized bank rating services such as IDC Financial Publishing, Veribanc and BauerFinancial. For 2014, EagleBank was one of 40 banks named to the Honor Roll of Banks by Keefe, Bruyette and Woods and was named a Sm-All Star Bank by Sandler O’Neill & Partners. Eagle Bancorp, Inc. is a public company and its shares are traded on the NASDAQ Capital Market under the symbol EGBN. The Company is in the Russell 2000® Index, which measures the performance of the largest 2000 U.S. companies based on total market capitalization. EagleBank is the presenting sponsor of “EagleBank Presents the Bisnow Morning Brief,” an email subscription service providing daily news stories related to Washington, DC area commercial real estate. A founding board member of the Prince George’s National Bank in 1987, Mr. Paul continued to serve as director when the bank merged with Montgomery National Bank in 1991 and changed its name to Allegiance Bank. He was a director of Allegiance Bank from 1991 until September 1996, and a director of Allegiance Banc Corporation from 1991 until its acquisition by F&M National Corporation in 1996. Mr. Paul was born and raised in Oceanside, New York, and came to the Washington, D.C. area to attend the University of Maryland, where he received a B.A. in Accounting. In 1980, he began his career in real estate investment as a bookkeeper, and in 1987, formed his own investment company, Ronald D. Paul Companies, Inc. Mr. Paul’s real estate holdings include office buildings and multi-family apartment projects throughout the Washington Metropolitan area, as well as in Texas, Florida and Iowa. Mr. Paul was a director, as well as Chairman of the Audit Committee, of Republic Properties Trust, a New York Stock Exchange-listed real estate investment trust, until it was sold in 2007. He is active in private investments, which includes serving as Chairman of Bethesda Investments, Inc., a private venture capital fund. As President of RDP Management, Inc., he is also engaged in the business of real estate management. Very active in several charitable organizations, Mr. Paul serves on the Board of Directors of the Washington Hospital Center Foundation and, since 1987, on the Board of Directors of the National Kidney Foundation of the National Capital Area (“NCA”). Mr. Paul’s involvement with the National Kidney Foundation began in the 1980’s when he was diagnosed with kidney disease; he received a kidney transplant from his brother, Steven B. Paul, at the Washington Hospital Center in 1990. Nineteen years later, he received a second transplant from Kathy McCallum, Chief Financial Officer of Ronald D. Paul Companies. Mr. Paul served as Chairman of the Board of the National Kidney Foundation of the NCA from 2002 – 2003, and he also chaired the National Kidney Foundation’s Annual Kidney Ball—the largest one-day fund-raising event of the Foundation—in 1993 and 2000. In 2002, Mr. Paul founded the National Kidney Foundation’s Annual Ronald D. Paul Companies Kidney Walk, which has grown from approximately 40 to over 900 walkers and has raised over $900,000. While attending the University of Maryland, he was active in many community events and became the youngest member ever to serve on the Board of Directors of the American Cancer Society. As Chairman of Eagle Bancorp, in 2005, Mr. Paul founded the EagleBank Foundation, which annually raises funds for breast cancer research, patient services and education. To-date, the Foundation has raised in excess of $2.1 million.

Ross Draber is the chief operating officer of United Bank, a subsidiary of United Bankshares, Inc., a $19.3 billion bank holding company. He is responsible for the performance and profitability of the Bank, directing commercial and consumer banking sales and service operations throughout the Washington, D.C. metro area. Draber oversees the region’s market presidents and works alongside them to drive growth and develop business strategy and execution plans. Draber has played an integral role in United Bank’s expansion since assuming the role in 2015. During that time, United Bank has grown to over 70 branches in Maryland, Virginia and Washington, D.C. It has the number one deposit market share among community banks in the Washington, D.C. Metropolitan Statistical Area. Draber is highly involved with the merger and acquisition team and was instrumental in the Bank’s successful acquisitions of Cardinal Financial Corporation and its subsidiaries George Mason Mortgage, LLC and Cardinal Wealth Services, Inc. (2017); Bank of Georgetown (2016); and Virginia Commerce Bank (2014). Draber previously served as a senior vice president of treasury and corporate finance. In this role, he managed the capital adequacy and regulatory risk of United Bankshares, Inc., serving on the Asset Liability Committee (ALCO) and stress test development team. He oversaw the mergers and acquisitions analysis and supervised commercial loan pricing and term sheet structuring within United Bank. Prior to that, Draber held several positions in treasury and credit administration. Draber is a CFA® charterholder and a 2017 Washington Business Journal 40 Under 40 honoree. He graduated from Washington and Lee University with a Bachelor of Science in Accounting and Business Administration.

David Kessler serves as Managing Partner of CohnReznick's Real Estate Industry practice. He has over 30 years of experience providing audit, tax, and management advisory services to the real estate and financial services industries, representing clients nationally. David represents developers, private equity funds, institutional investors such as life insurance companies and pension funds, lenders, asset management companies, property management companies, REITs, and loan funds. His clients operate and develop hotels, office, multifamily, industrial, retail, nursing and assisted living, land projects, military housing, and student housing units. David's services for commercial real estate clients involve audit and management advisory services including assisting new and existing private equity funds with structures, compliance, and asset or portfolio due diligence. He works with RIA’s, fund managers, and is proficient with real estate accounting and reporting as well as real estate operations. David frequently works with the Firm’s Advisory Practice. David designed and has taught a real estate accounting graduate-level course at Georgetown University’s School of Continuing Studies and the University of Maryland’s School of Architecture, Planning, and Preservation as part of each university’s graduate degree program in real estate development. He speaks frequently at real estate industry conferences throughout the country. David serves on the Board and is Treasurer of Junior Achievement of Greater Washington and is a Board Member of Barker Adoption Foundation.

Mark Katz is Chairman of Arent Fox. His principal areas of focus are commercial real estate matters, private equity transactional work, joint ventures, finance, loan workouts and restructurings.

With more than 20 years of experience, Drew has made a career managing both the projects and the people that define DC construction. In 2012, after 10 years with HITT as a senior vice president, Drew left to lead the Mid-Atlantic operations for a national competitor. In 2017, he returned to HITT, bringing his signature persistence and passion back to the company where he cut his teeth. As co-president, Drew provides increased leadership for eight key market sectors, working to improve and expand the firm’s operations, preconstruction, and project solutions. Since childhood, he’s been captivated by construction, taking his father’s tools to create and build something special on his own. Today, Drew approaches his work with that same curiosity, wondering how he can challenge the status quo of our industry. A decisive yet diplomatic leader, Drew strikes a balance of being engaged yet empowering his team members, offering guidance while allowing them to grow independently. He sees success as threefold: it comes from empowering the next generation of talent, moving the needle for the company and the industry, and ensuring his family is always the first priority.

Johnny Moseley is recognized as one of the most accomplished multi-family renovation contractors in the region. Founded in 2007, Moseley Multi-Family, previously known as Moseley Construction group was born out of a vision to create a company that could successfully address the challenges of outdated living spaces and amenities. Fast forward to today, Moseley Multi-Family is the Nation's Largest Multi-Family Contractor operating in over nine states. Moseley remains a leader in safety, sustainability and next level client experiences for multiple communities. He has been recognized by Smart CEO with a Best Run Company and Washington Business Journal Best Places to Work award."