SPIRE and The Real Property Law Section Host the REAL Symposium
Thanks to everyone who helped make the First Real Estate and Law Symposium a success! We will be having the Second Symposium in the Fall of 2012.
Below is information from the 2011 Symposium explaning the genesis of the event and giving an idea of what you might expect in 2012.
About The Real Estate and Law (REAL) Symposium
The REAL Symposium is a multidisciplinary collaboration of the State Bar Real Property Law Section and SPIRE. Distinguished speakers will address cutting-edge business and legal issues pertaining to the real estate industry. The REAL Symposium is designed:
- to provide all types of real estate professionals, as well as academics and government personnel, with critical information and perspectives from leaders in the industry on current and future challenges and trends.
- to provide real estate attorneys with continuing legal education and a greater appreciation for the business context in which legal services are provided; and
- to provide real estate business professionals with current “best practices” and a greater appreciation for the legal issues involved with their properties, projects and work.
The REAL Symposium is also designed to provide attendees with an opportunity to ask questions, to engage in meaningful discussions and to network with speakers, other leaders and attendees, both during the Symposium and at the hosted reception that follows.
We are really excited to present REAL Symposium 2011. The Planning Committee has arranged a great program with outstanding keynote speakers and panelists on critical subjects for the real estate industry in the present economy. This inaugural symposium will be a one-half day event at Paul Brest Hall in Stanford's newly constructed Munger Executive Conferences Center. SPIRE and the State Bar plan to expand the Symposium into a full-day event in future years.
We invite you to attend REAL Symposium 2011. Sponsorship opportunities are also available.
The following pages provide more details about the programming, speakers, sponsors and registration, which will be updated as additional information is confirmed.
If you have any questions, please feel free to contact Ron Sonntag, SPIRE's Executive Director at (949) 660-1293, rsonntag@spirestanford.org, Don Nanney (contact information below), or any other member of the Planning Committee.
Sincerely yours,
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Susan Meaney
Co-Chair REAL Symposium 2011
Member, Board of Trustees, SPIRE
Partner and Managing Director,
Makena Capital Management, LLC
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Donald C. Nanney
Co-Chair REAL Symposium 2011
Advisor, Real Property Law Section,
The State Bar of California
Partner, Gilchrist & Rutter Prof. Corp.
310-393-4000; dnanney@grlawyers.com
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REAL Symposium 2011 Planning Committee
- Elaine Andersson, QAV Realty Services, Inc.
- Lance Anderson, Miller Starr Regalia Prof. Corp.
- John K. Chapin, California Continuing Education of the Bar
- Chad Hagle, Aventine Development Corporation
- David Lanferman, Sheppard Mullin LLP, San Francisco
- E. David Marks, GCA Law Partners LLP
- Susan Meaney, Makena Capital Management, LLC
- Jose Mendoza, Klinedinst PC
- Donald C. Nanney, Gilchrist & Rutter Prof. Corp.
- James D. Richman, Arnold & Porter LLP
- Mollie Ricker, Dostart Development Company, LLC
- Helen Kang Shin, Morrison & Foerster LLP
- Ron Sonntag, Executive Director, SPIRE
- Mia Weber Tindle, Bingham McCutchen LLP
- Gillian van Muyden, Glendale City Attorney's Office
- Kenneth R. Whiting, Jr., Holme Roberts & Owen LLP
- Toni P. Wise, Greenberg Traurig LLP
- Michael H. Zischke, Cox Castle & Nicholson LLP
Program Schedule and Speakers
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12 noon - 1 p.m.
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Registration
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1 p.m. - 1:15 p.m.
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Welcome -- Symposium Co-Chairs
Susan Meaney, Partner and Managing Director, Makena Capital Management, LLC; Member, Board of Trustees, SPIRE
Donald C. Nanney, Partner, Gilchrist & Rutter Professional Corporation; Advisor, Executive Committee, Real Property Law Section, The State Bar of California
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1:15 p.m. - 2:15 p.m.
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Keynote Speakers: The Current Economics for Real Estate
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Will California Real Estate Be Golden Again? Perspectives on Markets, Trends and Opportunities
John Cushman, III, Co-Chairman of the Board, Cushman & Wakefield, Inc.
Mr. Cushman will examine the office leasing and capital markets from a broad global perspective with an emphasis on U.S. gateway cities. He will specifically examine leasing and investment trends in the San Francisco, Silicon Valley, Los Angeles and Orange County markets. His comments will explore the origin and scope of capital flows entering the U.S. market, enabling investors to compete for well located, quality assets, driving cap rates down and pricing to near peak levels in the trophy arena.
Mr. Cushman's remarks will also touch on the diversity of value among asset classes and the dichotomy between top-tier and tertiary cities. Is there a new bubble in commercial real estate driven by investors who are rebalancing allocations away from the sector, or will secondary markets engage the interest of investors and begin to drive yield? Where are the opportunities in the U.S. markets today?
Ranking various cities throughout the country, Mr. Cushman will close his remarks with his perspective on the future opportunities for the Northern and Southern California markets, including Silicon Valley, and the importance of these regions to the overall national economy.
It's Not DeLightful, It's Not DeLovely, It's DeLEVERAGE
Brian Pretti, Senior Vice President, The Mechanics Bank
The presentation will focus on the history of the generational credit cycle that is now behind us and where we are now in the whole process of deleveraging. What are the fingerprints and characteristics of the current cycle, and both how and why is it so different from prior cycles over our careers? What are we seeing right now in terms of credit creation both inside and outside of the official banking system and what's likely to be the tone and rhythm of credit expansion ahead? What does this macro of a deleveraging environment mean for commercial real estate (jobs)? Where are tomorrow's opportunities (perhaps especially difficult to see amidst the emotional drama of the moment)?
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2:15 p.m. - 2:30 p.m.
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Break
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2:30 p.m. - 3:30 p.m.
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Panel 1: Dodd-Frank: Its Aftermath and Lots of Moving Parts
Maureen A. Young, Partner, Bingham McCutchen LLP
Kenneth E. Scott, Ralph M. Parsons Professor of Law and Business, Emeritus, Senior Research Fellow, Hoover Institution, Emeritus, Stanford University
Walter J. Mix, III, Director, Berkeley Research Group, LLC, and
Former Commissioner, California Department of Financial Institutions
The Dodd-Frank Act requires a major overhaul of the U.S. financial regulatory system, necessitating the promulgation of literally hundreds of new regulations through a rulemaking process that will continue for years to come. The panel will look ahead at what the implementation of Dodd-Frank may bring. Although Dodd-Frank has a very few provisions directed specifically at commercial real estate practices, the panel will discuss the ways in which the altered playing field will impact the real estate industry.
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3:30 p.m. - 3:55 p.m.
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Redevelopment In Crisis: The Latest On Legislation, Litigation and the Future of Redevelopment in California
T. Brent Hawkins, Partner, Best Best & Krieger LLP and
General Counsel, California Redevelopment Association
How is State budget legislation affecting redevelopment agencies being implemented? What is the status of litigation challenging that legislation? What is the future of tax increment financing? How will cities stimulate economic development and affordable housing in the future?
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3:55 p.m. - 4:10 p.m
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Break
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4:10 p.m. - 5:10 p.m.
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Panel 2: Current Sources of Capital for U.S. Real Estate
Michael Jameson, Managing Director, Prudential Financial, Incorporated
Constance B. Moore, President and Chief Executive Officer, BRE Properties, Inc.
Ken Swenson, Division Counsel, Bank of America, N.A.
This presentation will focus on the current state of the real estate capital markets and the current sources of capital. The panel will highlight those sources that are the most competitive and regional differences between top tier markets versus secondary and tertiary markets. The status and recent activities of REITs, bank lenders, insurance companies and other sources of capital will be compared. The panel will also discuss the CMBS market generally and its impact on the overall commercial real estate market, and as well as potentially impactful trends and issues on the horizon.
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5:10 p.m. - 6:30 p.m.
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Hosted Reception
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Speaker Bios
REAL Symposium Co-Chairs:
Susan Meaney, Partner and Managing Director, Makena Capital Management LLC
Susan Meaney is a Partner and Managing Director at Makena Capital Management, LLC. Prior to joining Makena Capital, Susan Meaney was the Director of Real Estate and Real Assets Investments for the William & Flora Hewlett Foundation, where she was responsible for the investment and oversight of the Foundation's real assets portfolio. Prior to joining the Foundation in 2002, she served for eight years as a Managing Director at the Stanford Management Company where she was responsible for the development and management of 700 acres of Stanford University's commercial real estate holdings. Ms. Meaney graduated from Stanford University in 1982 with an A.B., with Honors, and earned an MBA from The Tuck School at Dartmouth in 1986. She currently serves on the PREA Publications Editorial Board and has served on a number of real estate fund advisory committees. She also serves on the Board of Trustees of Stanford Professionals in Real Estate (SPIRE).
Donald C. Nanney, Partner, Gilchrist & Rutter Professional Corporation
Don Nanney is a Partner with Gilchrist & Rutter Professional Corporation, a real estate boutique law firm in Santa Monica, CA. Mr. Nanney served twice as Chair of the Benjamin S. Crocker Symposium on Real Estate Law and Business in Los Angeles, which was the first major symposium with multidisciplinary focus on real estate business and law, and he managed the Crocker Symposium a third time as Chair of the Real Property Section, Los Angeles County Bar Association (LACBA). The Crocker Symposium is presently a collaboration of the LACBA and the Richard S. Ziman Center for Real Estate at UCLA. He has also served as a Member of the Executive Committee of the Real Property Law Section, State Bar of California, and is presently an Advisor to that committee. Mr. Nanney is a Stanford graduate and a member of SPIRE's Founder's Circle.
Keynote Speakers
John C. Cushman, III, Co-Chairman of the Board, Cushman & Wakefield, Inc.
John Cushman is a leader in the commercial real estate industry on a global basis. Cushman & Wakefield is the world's largest private commercial real estate firm with 231 offices in 58 countries on 6 continents with more than 15,000 employees. As Co-Chairman of the Board of Cushman & Wakefield, Mr. Cushman is responsible for formulating and articulating strategic policies and initiatives for the company on a domestic and international basis. In addition, he continues to be engaged in significant transactions in major markets worldwide. Prior to serving as Chairman of the firm, he was acknowledged by a variety of media sources as the top office leasing broker in the country. He holds the distinction of having negotiated the largest office lease in the world -- the world headquarters of Merrill Lynch & Company involving 4 million square feet (initial occupancy) at the World Financial Center in New York City. Over the course of his career, Mr. Cushman has served on the boards of 14 public corporations. In addition, he remains deeply committed to serving a number of renowned charitable, educational, and governmental institutions.
Brian Pretti, Senior Vice President, Mechanics Bank
Brian Pretti is a Senior Vice President with the Mechanics Bank and heads the investment management group responsible for managing $1.4 billion of client assets. He has been with Mechanics for 21 years and has been involved in the investment management business for 31 years. Mr. Pretti currently manages assets for high net worth individuals, qualified plan pension and profit sharing accounts, trusts and charitable organizations. Mr. Pretti holds an MBA in Finance from San Francisco State University, a BS in Economics from the University of San Francisco, and a BA in Business Administration from the University of San Francisco. He is a CFA (Chartered Financial Analyst) and a CFP (Certified Financial Planner).
Panel 1: Dodd-Frank
Maureen A. Young, Partner, Bingham McCutchen LLP
Maureen Young is a partner in Bingham McCutchen's Financial Institutions Corporate and Regulatory Group, where she advises on financial services companies on transactional, regulatory and compliance matters. Ms. Young assists financial institutions and financial services companies with mergers, acquisitions and restructurings; entrance into new products and services; examination and regulatory enforcement matters; and services agreements. She regularly advises on and speaks about Dodd-Frank issues. Ms. Young is also Co-Chair of the firm's Privacy and Security Group.
Kenneth E. Scott, Ralph M. Parsons Professor of Law and Business, Emeritus, Senior Research Fellow, Hoover Institution, Emeritus, Stanford University
Kenneth E. Scott '56, law and business professor emeritus and Hoover Institution senior research fellow, is a leading scholar in the fields of corporate finance reform and corporate governance who has written extensively on federal deposit insurance issues and federal banking regulation. Professor Scott has extensive consulting experience, including work for the World Bank, Federal Deposit Insurance Corporation and Resolution Trust Corporation, and, most recently, the National Association of Securities Dealers. He is also a member of the Shadow Financial Regulatory Committee, Financial Economists Roundtable, and the State Bar of California's Financial Institutions Committee.
Walter J. Mix, III, Director, Berkeley Research Group, LLC, and Former Commissioner, California Department of Financial Institutions
Walter J. Mix III is a Director and heads the financial services practice at Berkeley Research Group. He is also a former Commissioner of the California Department of Financial Institutions. Mr. Mix advises clients on matters related to corporate governance, enterprise risk management, strategic planning, financial advisory, mergers and acquisitions, real estate finance, regulatory compliance, capital planning and technology. He also performs litigation and expert services. Mr. Mix is Chairman of the International Bankers Association of California.
Redevelopment in Crisis
T. Brent Hawkins, Partner, Best Best & Krieger LLP and General Counsel, California Redevelopment Association
T. Brent Hawkins is a partner in the Municipal & Redevelopment Law practice group of Best Best & Krieger LLP. Mr. Hawkins practices redevelopment, land use, housing and environmental law (both transactional and litigation). In addition to representing the redevelopment agencies of multiple cities and counties, Mr. Hawkins serves as general counsel to the California Redevelopment Association. Mr. Hawkins is co-author of Redevelopment in California (Solano Press Books, 4th ed. 2009) and a contributing editor for The California Municipal Law Handbook. He has been recognized as a Northern California Super Lawyer (2004). Mr. Hawkins is an Adjunct Professor at the University of California, Davis Extension Program.
Panel 2: Current Sources of Capital
Michael Jameson, Managing Director, Prudential Financial, Incorporated
Mike Jameson is a Managing Director with Prudential Mortgage Capital Company. In this role he is responsible for managing the firm's third-party, commercial mortgage asset management business. Mr. Jameson graduated with honors from the University of California at Davis in 1985 with a degree in Economics. He also received an MBA from the Haas School of Business at the University of California at Berkeley. Mr. Jameson serves as the Chairman of the San Francisco District Council of the Urban Land Institute, is a member of Lambda Alpha International and is on the board of the Foundation for Autistic Childhood Education and Support.
Constance B. Moore, President and Chief Executive Officer, BRE Properties, Inc.
Constance B. Moore is BRE's president and chief executive officer, as well as a member of the board of directors. Ms. Moore holds an M.B.A. from the University of California, Berkeley, Haas School of Business, and a bachelor's degree from San Jose State University. She was the 2009 Chair of the National Association of Real Estate Investment Trusts (NAREIT) where she remains on the Executive Committee of the Board. She is the Chair of the Policy Advisory Board for the Fisher Center for Real Estate & Urban Economics at UC Berkeley, a member of the Policy Advisory Board for the Joint Center for Housing Studies of Harvard University, a member of the Urban Land Institute, a member of the Board of Directors of the Real Estate Roundtable, a member of the Executive Committee of the Board of the National Multi-Housing Council and serves as Chairman of the San Jose State University Tower Foundation.
Ken Swenson, Division Counsel, Bank of America, N.A.
Ken Swenson is a division counsel with Bank of America, where he manages legal aspects of the Bank's nationwide commercial real estate workout portfolio, commercial REO property portfolio, and real estate loan syndications. He also supports the Bank's commercial real estate and homebuilder lending teams in California and other states. Previously, Mr. Swenson was a Vice President of business and legal affairs for real estate at Universal Studios, responsible for all of the company's corporate real estate activities, and where he was principally involved in the Universal Studios Master Plan creation, hotel development at Universal Orlando, mergers and acquisition support, and numerous other expansion and acquisition projects in the U.S. and internationally.
REAL Symposium 2011 Sponsors (partial list and growing)
To become a sponsor, use the Sponsorship Enrollment Form.
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REAL Symposium 2011 gratefully acknowledges the support of its sponsors:
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Arnold & Porter LLP
- Asian Real Estate Association of America
- Berbay Corp.
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Berkeley Research Group
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Bingham McCutchen LLP
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Buchalter Nemer Prof. Corp.
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California Continuing Education of the Bar
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California Real Estate Law Newsletter
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Cox Castle & Nicholson LLP
- Devcon Construction Incorporated
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Dostart Development Company, LLC
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Gilchrist & Rutter Prof. Corp.
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Greenberg Traurig LLP
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Holme Roberts & Owen LLP
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Makena Capital Management, LLC
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Miller Starr Regalia Prof. Corp.
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Morrison & Foerster LLP
- Sheppard Mullin Richter & Hampton LLP
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Silicon Valley Business Journal
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SSL Law Firm LLP
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Wilson Meany Sullivan LP
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Sponsorship Opportunities and Benefits
To become a sponsor, use the Sponsorship Enrollment Form.
Real estate industry companies, law firms, accounting firms, financial institutions, and related support and service companies are invited to become sponsors of REAL Symposium 2011 .
Sponsor Contribution : $1,500.00
Benefits :
- Four (4) complimentary registrations for use by the sponsor for educational and networking opportunities at the event.
- Company name or logo on official REAL Symposium 2011 marketing materials, including:
- REAL Symposium 2011 electronic event brochure
- Other publicity announcements (if design and space permits, in discretion of Planning Committee)
- REAL Symposium website
- ○ On-site signage
- ○ REAL Symposium 2011 program syllabus.
- A one-page sponsor advertisement or message in the REAL Symposium 2011 program syllabus distributed to each attendee.
- Table top display for the presentation of sponsor materials (space permitting).
- Opportunity to enhance the visibility of your firm/company in the real estate community (business and legal) by participating and being recognized as a sponsor.
- Federal charitable tax deductibility for the sponsorship contribution to the extent permitted by applicable law.
Notes : A limited number of additional sponsorship opportunities are available for hosting the reception or other refreshments on the day of the event. For availability and details, please contact event Co-Chair Don Nanney at (310) 393-4000 or dnanney@gilchristrutter.com.
Each sponsor is requested to provide its firm/company logo as soon as possible to: Pam.Wilson@calbar.ca.gov for use on the website and publicity materials. Each sponsor is also requested to provide its ad copy to Ms. Wilson in JPEG format no later than September 30, 2011, in order to be included in the REAL Symposium 2011 program syllabus .
Be sure to register complimentary tickets once registration opens. Space is limited at the venue. If capacity has been reached through other registrations prior to receipt of complimentary registration information, entitlement to some or all complimentary registrations may be lost.
Registration Information
REGISTER ONLINE or use the Mail / Fax Registration Form.
Pre-Registration through November 2, 2011
- $195 Real Property Law Section Member or SPIRE Member
- $225 Non-Section Member or SPIRE Member
After November 2, 2011
- $225 Real Property Law Section Member or SPIRE Member
- $275 Non-Section Member or SPIRE Member
Deadline: Your form and check payable to The State Bar of California, or credit card information must be received by Wednesday, November 2, 2011
Mail To: Program Registrations, The State Bar of California, 180 Howard Street, San Francisco, CA 94105
Fax To: Program Registrations at (415) 538-2368. Credit card information is mandatory.
On-Site Registrations: On-site registrations will be on a space-available basis only.
Cancellations/Refunds: Cancellations and refund requests must be received in writing by November 7, 2011 and are subject to a $20 service charge. Refunds will not be available after this date.
Questions: For registration information call (415) 538-2508. Telephone registrations will not be accepted. For program content or Section information call (415) 538-2564.
Special Assistance: For special assistance, please call (415) 538-2564.
MCLE: The State Bar of California and the Real Property Law Section are approved State Bar of California MCLE Providers. This activity has been approved for MCLE credit in the amount of 3.25 hours.
About SPIRE
Founded in 2009, SPIRE's goals are to provide a forum for the professional development of Stanford alumni in the real estate industry, to create opportunities for current Stanford students in the world of real estate, and to promote the University's development of a robust multi-disciplinary real estate education and research program. SPIRE adopted these goals -- its Three Pillars -- as guiding principles for the organization. To date, SPIRE has built an international network of nearly 1000 alumni involved in all real estate disciplines, including development, construction, engineering, design, planning, brokerage, law and other related fields. Go here for more information about SPIRE and membership opportunities.
About The State Bar of California Real Property Law Section
Organized in 1979, the Real Property Law Section has approximately 7,000 members and is the third largest California State Bar section. The Section serves as a forum for communicating information to its members on current developments and trends in real property law. The Section is an approved California MCLE provider, and offers educational opportunities for real estate lawyers throughout the year. The Section's traditional premier event is its Annual Retreat, which is held in the spring and attracts real estate attorneys from throughout California. The REAL Symposium, held in the fall, will represent an expansion for the Section into multidisciplinary law and business programming. For more information about the Real Property Law Section, go here.
About the Real Estate Business and Law Multidisciplinary Concept
While the REAL Symposium 2011 is brand new, the multidisciplinary real estate law and business format has been successfully produced in Southern California since 2003 by the Benjamin S. Crocker Symposium on Real Estate Law and Business, which is presented annually by the Los Angeles County Bar Association's Real Property Section and the Richard S. Ziman Center for Real Estate at UCLA. A similar Real Estate Law and Business Forum is presented by the USC Gould School of Law. The annual Real Estate & Economics Symposium sponsored by the Fisher Center for Real Estate & Urban Economics at U.C. Berkeley Haas School of Business is focused on real estate business without a significant legal component. Thus, the REAL Symposium brings the multidisciplinary law and business format to Northern California for the first time, fulfilling the need for such programming in an underserved market. The venue at Stanford University is particularly appropriate, given the economic strength of Silicon Valley and its role as a regional and even national leader.
Paul Brest Hall -- Stanford University
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