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REAL ESTATE INVESTMENT STRATEGIES

2007 was a mixed year for real estate investing. Cap rate compression and strong fundamentals drove values higher in the first half, and capital markets turmoil brought activity to a halt in the second half. Various property types were impacted in different ways by the capital markets displacement. This panel features top real estate investors across asset classes who will discuss their strategies to exploit local, regional and global opportunities in the current marketplace.

 

Patrick Hanlon - Moderator
Principal
Ackman-Ziff Real Estate
www.ackmanziff.com

Patrick Hanlon joined Ackman-Ziff in January, 2000 and became a Principal of the firm in January of 2006. He has broad responsibilities for arranging capital for the firm’s clients, including sourcing, underwriting, structuring, and negotiating loans and investments for all property types. Since arriving at Ackman-Ziff, Patrick has arranged in excess of $8 billion in debt, mezzanine and equity financing, and has twice lead deal teams that have earned the Real Estate Board of New York’s “Most Ingenious Deal of the Year” award. Additionally, in March of 2004, Patrick was awarded the Real Estate Board of New York’s Most Promising Salesperson of the Year Award.

Prior to joining the firm, Patrick was the vice president of a group of three publicly held real estate investment trusts: United Mobile Homes Inc., Monmouth Real Estate Investment Trust and Monmouth Capital Corporation.

Patrick holds an M.S. in real estate investment from New York University and a B.A. in business marketing from the University of Notre Dame. Patrick also served as an adjunct professor for the masters program in real estate at New York University for a period of more than 3 years, where he taught an advanced course in real estate finance and investment.

 

PANELISTS:

Hamid Moghadam
Chairman and CEO
AMB Property Corporation
www.amb.com

Hamid Moghadam is Chairman of the Board and Chief Executive Officer of AMB Property Corporation, a leading global developer and owner of industrial real estate. Mr. Moghadam co-founded AMB in 1983 and led the company through its initial public offering in 1997 (NYSE: AMB).

Mr. Moghadam has held a number of strategic roles within the real estate industry. He is the former Chairman of National Association of Real Estate Investment Trusts (NAREIT) and the Real Estate Investment Trust Political Action Committee (REITPAC). He served as a director of Plum Creek Timber Company (NYSE: PCL) and was a founding member of the Real Estate Roundtable.

Mr. Moghadam is a Trustee of Stanford University, serves as a director of Stanford Management Company, and sits on the Stanford Graduate School of Business Advisory Council and its Campaign Steering Committee. As an active participant in the San Francisco Bay area community, he has served or currently is serving on various philanthropic and community boards including the California Academy of Sciences, Town School for Boys, and as Chairman of Young Presidents Organization’s (YPO) Northern California Chapter.

He is a past winner of the Ernst & Young Entrepreneur of the Year, a recipient of the Ellis Island Medal of Honor, and has been named CEO of the Year on six different occasions by three separate industry publications. He also received the National Association of Industrial and Office Properties (NAIOP) Lifetime of Building Award in 2007 and NAREIT’s Industry Leadership Award in 2005.

Mr. Moghadam received SB and SM degrees in engineering from Massachusetts Institute of Technology and an MBA from Stanford Graduate School of Business.

Martin Cepkauskas
Director of Real Estate
Hearst Corporation
www.hearst.com

Marty Cepkauskas is the Director of Real Estate for the west coast properties of The Hearst Corporation, one of the world's largest, privately held diversified media companies. Hearst’s major business interests include magazines, newspapers, television, cable, radio, internet, and real estate. As Director of Real Estate, Mr. Cepkauskas is involved with the real estate management of over 210,000 acres of ranch and timber land in California and several commercial/industrial buildings in San Francisco and Los Angeles.

Mr. Cepkauskas is currently managing the entitlement and redevelopment process for the Hearst’s Chronicle properties in downtown San Francisco (4 acres), the former Herald Examiner properties in downtown Los Angeles (3 acres), and the Daily News property in Woodland Hills (5 acres), totaling over $1.5 billion worth of mixed use development opportunities. Previously, Mr. Cepkauskas headed up the conservation transaction with the State and the American Land Conservancy for preserving the historic 82,000-acre Hearst Ranch in San Simeon, which received the Governor’s Environmental Award in 2006.

Before starting with The Hearst Corporation in 1994, Mr. Cepkauskas worked as a project manager for Cahill Contractors in San Francisco and previously at National Steel and Shipbuilding (NASSCO) in San Diego in their management training program.

Mr. Cepkauskas received a BS degree in Mechanical Engineering from Union College in Schenectady, New York; a MS degree in Construction Engineering and Management from the University of California, Berkeley; and a MBA degree from Saint Mary’s College in Moraga, CA.

Philip (Flip) Maritz
President
Maritz, Wolff & Co.
Managing Director
Broadreach Capital Partners
www.maritzwolff.com
www.broadreachcp.com

Philip (Flip) Maritz is Co-founder and President of Maritz, Wolff & Co. (“MW”). Mr. Maritz founded MW in 1994, and has since played a significant role in the acquisition of 19 luxury hotels and interests in two hotel operating companies.

Mr. Maritz joined Broadreach Capital Partners in 2005 as Managing Director overseeing all lodging related investment and operating activities. Together with the other principals, Mr. Maritz oversees the activities of Broadreach’s discretionary real estate investment funds.

Mr. Maritz is also the non-executive Chairman of Rosewood Hotels and Resorts, LLC and Director of Asbury Automotive Group as well as numerous private companies.

Prior to founding Maritz, Wolff & Co., Mr. Maritz was active in real estate acquisition, finance and development with Morgan Stanley & Co. in New York and Spieker Properties in the San Francisco Bay area. Mr. Maritz received an A.B. from Princeton University and an M.B.A. from Stanford University Graduate School of Business.

John Grassi
President
Spear Street Capital
www.spearstreetcapital.com

John Grassi is the founder of Spear Street Capital, a private real estate fund dedicated to finding office investment opportunities involving excess corporate real estate, assets with major leasing or repositioning risk and properties occupied by tenants with difficult credit issues.

To date, Spear Street Capital has acquired 16 assets in 9 markets nationwide encompassing over 4.2 million sq. ft. Prior to forming Spear Street Capital, Mr. Grassi was the Chief Investment Officer at the Shorenstein Company in San Francisco. He led all company acquisitions and dispositions over a 10-year period, representing a transaction volume in excess of $3.3 billion. He also directed the firm’s financing and joint venture activities and played a major role in the investor development efforts for the company’s six investment funds.

Prior to joining the Shorenstein Company, Mr. Grassi was a vice president in the real estate department of Goldman, Sachs & Co. in the New York and Los Angeles offices, and was involved in the acquisition, sale and financing of real estate assets for individual and pension fund clients nationwide.

Before joining Goldman, Sachs & Co., Mr. Grassi was an associate in the real estate and merger group of the law firm of Skadden, Arps, Slate, Meagher and Flom in its New York office. Mr. Grassi graduated with a B.A. from Brown University and a J.D. from Harvard Law School.

 


 

 

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