SPIRE and The Real Property Law Section Host
the Fourth Annual REAL Symposium

REAL Symposium

SPIRE and the Real Property Law Section Host the
4th Annual
Real Estate & Law (REAL) Symposium

Wednesday, February 11, 2015
Stanford University

1 p.m. - 5:30 p.m.
Networking Cocktail Reception to Follow

Paul Brest Hall, Stanford University
Building 4, 555 Salvatierra Walk
Stanford, CA 94305

Register Now

Join us for keynote speakers:
John G. Stumpf
Chairman, President and CEO, Wells Fargo & Company

Monika Piazzesi
Joan Kenney Professor of Economics, Department of Economics, Stanford University

Panel topics include:
Housing Angst: Solving the Availability and Affordability Crisis in the Bay Area
The Frothy Top: Bay Area Capital Markets; Opportunity, Strategy, Expectations and Risk

This program offers 2.5 hours participatory MCLE credit. 

Registration Information

Program Schedule and Speakers

Sponsor List

Sponsorship Opportunities

About the REAL Symposium

Planning Committee

Speaker Bios


About the
Real Property Law Section


Stanford Professionals
 In Real Estate (SPIRE)

SPIRE, Stanford Professionals in Real Estate.  Click to go to the SPIRE website http://www.spirestanford.org/.

The Real Property Law Section
of The State Bar of California  

Real Property Law Section Skyline Logo

Registration Information

You can now register online for this program.

Registration Fees

Registration Type

Register BY or ON 2/7/2015

Register AFTER 2/7/2015




SPIRE / Real Properly Law Section Members



Young Professionals
(10 years from college or 5 years from graduate school)



The State Bar of California Real Property Law Section is a State Bar-approved MCLE provider.

Program Schedule and Speakers

12 noon - 1 p.m.


1 p.m. - 1:15 p.m.

Welcoming Remarks

1:15 p.m. - 2:30 p.m.

Featured Panel 1: Housing Angst: Solving the Availability and Affordability Crisis in the Bay Area

Program Description: Exponential investment and growth in San Francisco, Silicon Valley and the Bay Area are generating unprecedented demand for housing and causing an availability and affordability crisis. Considering the existing geographic, regulatory, political, and investment realities, the panel will explore “out of the box” solutions that not only address supply and demand, but how we think about the way we live, work and commute.

ModeratorRoger A. Clay, Jr., Visiting Scholar, Stanford Institute on Research in the Social Sciences



2:30 p.m. - 3 p.m.

Keynote Speaker: John G. Stumpf,Chairman, President and CEO, Wells Fargo & Company

John Stumpf became Chairman for Wells Fargo & Company in January 2010. He was named Chief Executive Officer in June 2007, elected to Wells Fargo’s Board of Directors in June 2006, and has been President since August 2005.  He serves on the Board of Directors for The Clearing House, the Financial Services Roundtable, Target Corporation, and Chevron Corporation.  He also serves on the Board of Trustees of the San Francisco Museum of Modern Art.  A Minnesota native, he earned his bachelor’s degree in finance from St. Cloud State University, St. Cloud, Minnesota and his MBA with an emphasis in finance from the University of Minnesota.

3:10 p.m. - 3:30 p.m.


3:30 p.m. - 4 p.m.

Keynote Speaker: Monika Piazzesi, Joan Kenney Professor of Economics, Department of Economics, Stanford University

Monika Piazzesi is the program director of the National Bureau of Economic Research Asset Pricing Program and a co-editor of the Journal of Political Economy. She is a 2015-2016 Guggenheim Fellow.  Her research focuses on the interaction between the macro-economy and financial markets.  The American Economic Association granted her an award for research that changed Federal Reserve forecasting models.  Additionally she has conducted extensive research on the housing market, price expectations, and impact of easy credit on housing values. 

4:10 p.m. – 5:20 p.m.

Featured Panel 2:  The Frothy Top: Bay Area Capital Markets; Opportunity, Strategy, Expectations and Risk

Program Description: Representatives from various capital sources will discuss investment strategy, return expectations, risk mitigation, sustainability and opportunity in the Bay Area given the tremendous capital focused on the region, record-breaking values and new entrants both domestic and foreign.

Moderator: Sean Flannery, West Coast Commercial Real Estate, Wells Fargo & Company


5:30 p.m. - 6:30 p.m.

 Reception Sponsored by Sheppard Mullin Richter & Hampton

2015 Sponsor List (partial list and growing)

REAL Symposium 2015 gratefully acknowledges the support of its sponsors:

Reception Sponsor: Sheppard Mullin Richter & Hampton

Sheppard Mullin


Luncheon Sponsor: Wells Fargo Bank

Wells Fargo

Gold Sponsors

  • King Williams & Gleason LLP
King Williams and Gleason

Silver Sponsors

  • American Institute for Commerial Real Estate Education
  • Berbay Corporation
  • Carr-McClellan P.C.
  • California Continuing Education of the Bar
  • First American Exchange Company
  • Gilchrist & Rutter P.C.
  • Kawakami Barron & Lam LLP
  • Lubin Olson & Niewiadomski LLP
  • Miller Starr Regalia
  • RB Capital Partners
  • RealCrowd Inc.
  • Real Estate Law Group, LLP
  • The Registry-Bay Area Real Estate Journal
  • San Francisco Business Times
  • Schiff Hardin LLP
  • Shartsis Freise LLP
  • Silicon Valley Business Journal
American Institute for Commercial Real Estate Education Berbay Logo
Carr McClellan CEB logo
Gilchrist and Rutter logo
Kawakami Baaron and Lam logo
Miller Starr Regalia RB Capital Partners
The registry Bay Area Real Estate The Real Crowd
Real Estate Law Group LLP Schiff Hardin
Shartis Freise Silicon Valley Business Journal


  • Bellwether Enterprise


2015 REAL Symposium Sponsorship Opportunities

If you are interested in sponsorship opportunities, please contact Christine Gregorak at 415-331-2555.

About The Real Estate and Law (REAL) Symposium

The REAL Symposium is a 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.

If you have any questions, please feel free to contact Co-Chair Andy Walburger, SPIRE’s Executive Director, at 949-207-7244 (ext. 101), Co-Chair John Mackel, RPLS Executive Committee member, at 415-577-9542, or any other member of the Planning Committee.

Sincerely yours,

John Mackel
Co-Chair, REAL Symposium 2015
Andy Walburger
Co-Chair, REAL Symposium 2015
Stanford Professionals in Real Estate
949-207-7244 (ext. 101)

REAL Symposium 2015 Planning Committee

  • Andy Walburger, SPIRE, REAL Co-Chair
  • John Mackel, RPLS, REAL Co-Chair
  • Elaine Andersson, Commercial Real Estate Diversity Report
  • Chris Bailey, RB Capital Partners
  • Jonathan Ball, Ball Law Corporation
  • Eric Brown, Carbon Lighthouse
  • John Chapin, CEB
  • Stephanie Culler , SPIRE
  • Christine Gregorak, Real Estate Law Group, LLP
  • Erica Hess, Berbay Marketing & Public Relations
  • Rinat Klier-Erlich, Manning & Kass
  • David Lanferman, Rutan & Tucker
  • Julie Martinez, State Bar of California
  • Robert Miller, Lubin Olson
  • Brenden Millstein, Carbon Lighthouse
  • Daniel Myers, Wendel Rosen
  • Don Nanney, Gilchrist & Rutter Prof. Corp.
  • Eric Remensperger, Prokauser
  • Gillian van Muyden, Glendale City Attorney’s Office
  • Sandy Vance, Kimley-Horn and Associates, Inc.
  • Ken Whiting, Schiff Hardin LLP
  • Stephanie Culler , SPIRE

Speaker Bios

Roger A. Clay, Jr., Visiting Scholar, Stanford Institute on Research in the Social Sciences

Roger is a Visiting Scholar with the Institute on Research in the Social Sciences at Stanford (IRiSS) and its Center on Poverty and Inequality. He previously was the President of the Insight Center for Community Economic Development, the General Counsel of the California Housing Finance Agency, and a partner with the law firm of Goldfarb & Lipman advising housing and community economic development organizations. He later became the Vice-President with the Corporation for Supportive Housing and a Senior Fellow at the Institute on Race & Poverty at the University of Minnesota. Mr. Clay has served in numerous volunteer leadership positions including the chair of the Lucile Packard Foundation for Children’s Health, vice-chair of the Stanford Board of Trustees, chair of the Stanford Alumni Association, and chair of both the American Bar Association (ABA) Forum on Affordable Housing and Community Development Law, and the Commission on Homelessness and Poverty. He currently serves on the board of the Center for the Comparative Study of Race and Ethnicity at Stanford.  Mr. Clay is the co-editor of Building Healthy Communities: A Guide to Community Economic Development for Advocates, Lawyers, and Policymaker, and has been recognized by the ABA for his outstanding contributions to housing and community development law, the Distinguished Counsel Award from the Housing and Development Law Institute, and the Gold Spike award, Stanford University’s highest award for volunteer leadership service.  Mr. Clay has a B.A. from Stanford University, M.S.W. from UCLA and J.D. from the University of California, Berkeley.

Stuart Cohen, Executive Director, TransForm

Stuart is a co-founder of TransForm. By combining high-quality policy analysis with coalition building and strategic media efforts, TransForm has become a powerful and effective voice for world class transit and walkable communities in the Bay Area and beyond.  TransForm's campaigns on transportation sales taxes and other funding measures have brought together diverse coalitions and helped raise over $8 billion for sustainable and socially-just transportation. Stuart has spearheaded a number of these efforts, as well as the successful effort to initiate the Bay Area's Regional Smart Growth Strategy.  Stuart has helped launch many of TransForm’s pioneering programs, including the Great Communities Collaborative, ClimatePlan, and GreenTRIP. In 2010, Stuart was awarded an Ashoka Fellowship for his leadership in developing innovative programs such as GreenTRIP, TransForm's innovative program to certify and support low-traffic developments.  In 2013, Stuart was named a recipient of the James Irvine Foundation Leadership Award for championing innovative regional planning to create affordable, vibrant communities that improve quality of life and help the environment.  Stuart received a Master's Degree in Public Policy (MPP) from the Goldman School of Public Policy at U.C. Berkeley.

Osborn (Oz) Erickson, Chairman, Emerald Fund

Oz has 30 years of experience developing and managing residential and commercial projects.  Headquartered in San Francisco, Emerald Fund is one of the Bay-Area’s premier real estate developers.  Emerald Fund has successfully completed development projects throughout the Bay-Area representing a total value in excess of $2 billion. Emerald Fund takes both a strategic and creative approach to development and renovations focusing on design, functionality, and sustainability.  Oz identifies new projects, is involved with the initial design, financing, securing of governmental approvals and sales and marketing.  Mr. Erickson has significant experience in the community project approval process.  He was a licensed real estate broker.  Mr. Erickson received a BA from Harvard University and an MBA from Stanford University.

Sean Flannery, Senior Credit Officer, West Coast Commercial Real Estate, Wells Fargo & Company

Sean has spent his entire career at Wells Fargo, starting in the retail bank in 1990.  After working in retail and middle-market banking, Sean completed the Bank’s Credit Training Program and joined the real estate workout team, first in Irvine, CA and later, in San Francisco. As the workout efforts began to subside in late 1994, Sean took an opportunity to join a new group, later named Real Estate Merchant Banking (REMB), to acquire and originate opportunistic real estate financing.  Sean led the San Francisco REMB office for more than ten years, focused on originating nonrecourse project financings all over the Western US. In January 2009, Sean joined the newly formed Special Situations Group to oversee the management and resolution of residential development and ORE portfolios of formerly Wachovia assets.  After two years, Sean transitioned back to the origination side of real estate financing, with a restarted REMB group focused primarily on acquiring large commercial loan portfolios, generally from distressed European sellers. In March 2014, Sean moved to a new role as Senior Credit Officer for the West Coast Commercial Real Estate portfolio.

Carol Galante, Faculty Director of the Berkeley Program in Housing and Urban Policy, UC Berkeley

Carol is the I. Donald Terner Distinguished Professor in Affordable Housing and Urban Policy and the Faculty Director of the Berkeley Program in Housing and Urban Policy.  She also co-chairs the Policy Advisory Board of the Fisher Center of Real Estate and Urban Economics.  Ms. Galante was appointed by President Barack Obama and confirmed by the United States Senate to serve as the Assistant Secretary for Housing/Federal Housing Commissioner at the U.S. Department of Housing and Urban Development (HUD). Prior to her confirmation, Ms. Galante served as the Acting Assistant Secretary for Housing/FHA Commissioner, having first joined HUD in May 2009 as the Deputy Assistant Secretary for Multifamily Housing programs.  As FHA Commissioner, Ms. Galante had direct responsibility for oversight and administration of the FHA’s trillion dollar insurance portfolio, which includes single family and multifamily housing as well as insured health care facilities. She was also responsible for several of HUD’s rental assistance programs, including 1.2 million units of Project Based Rental Assistance, and over 400,000 apartments for elderly and the disabled under the Section 202 and 811 programs.  Prior to her appointment at HUD, Galante was President and Chief Executive Officerof BRIDGE Housing Corporation, the largest non-profit developer of affordable, mixed-income and mixed-use developments in California.  She has been the recipient of many notable honors, including: Housing Wire Magazine’s Influential Woman in Housing 2012, Multifamily/Developer Magazine-Executive of the Year in 2008, Builder Magazine-Top Most Influential People in Homebuilding in 2006, and the California Homebuilder Hall of Fame.  Ms. Galante holds a Master of City Planning from U.C. Berkeley, and a Bachelor of Arts from Ohio Wesleyan.

Mark Jorgensen, Vice President of Investments, Golden Gate Global

Mark is the Vice President of Investments at Golden Gate Global (GGG). Prior to joining GGG, he was an Investment Professional at Point Lobos Capital where he covered public equity real estate related investments and assisted with building the firm’s operations capabilities. Prior to that, he was an Investment Professional at Farallon Capital Management where he focused on opportunistic real estate investments, asset management and research. He was previously an Investment Banking Analyst in the Financial Sponsors Group at Lehman Brothers and served in the U.S. Navy.  Mark earned his MBA from the Stanford Graduate School of Business and graduated Summa Cum Laude with College Honors from the University of California, Los Angeles with a B.A. in Business Economics and an Accounting Minor. 

Monika Piazzesi, Joan Kenney Professor of Economics, Department of Economics, Stanford University

Monika is the Joan Kenney Professor of Economics at Stanford University. She is the program director of the NBER Asset Pricing Program, a research affiliate for CEPR, a Fellow of the Academy of Arts and Sciences and the Econometric Society, and a Guggenheim Fellow during 2015-2016.  During 2007–2008, she served as monetary advisor to the Federal Reserve Bank of Minneapolis. During the years 2006-2014, she was co-editor of the Journal of Political Economy. Prior to joining the Stanford faculty, she taught at the University of Chicago's Graduate School of Business and at UCLA's Anderson School of Business.  She received the Elaine Bennett Research Prize and the Bernazer Prize for Research in Macroeconomics and Finance. She holds a diploma in economics from the University of Bonn in Germany and a PhD in economics from Stanford University.  Her research focuses on the interaction between the macro economy and financial markets.  Her research measures the impact of monetary policy on the yield curve and the reflection of macroeconomic conditions in the yield curve more broadly. Her work on housing documents the importance of market segmentation, the distribution of houses and buyer characteristics, the contribution of exuberant house price expectations on house prices during the early 2000s, and the impact of easy credit on poorer households. Her research also studies the risk exposures of individual banks and the banking sector as a whole.

Erin L. Rothfuss, Partner, Gibson, Dunn & Crutcher 

Erin is a member of the firm's Real Estate Department and serves on the firm's Executive Committee.  Ms. Rothfuss' practice encompasses a variety of transactional matters involving lending and structured finance, private equity, workouts and restructurings, loan sales, syndications and participations, and acquisitions and dispositions, with a particular emphasis on real estate.  She represents a wide range of clients, including lenders, developers, opportunity funds, joint ventures and a variety of institutional and non-institutional investors.  Her experience includes advising clients in connection with property, equity and loan transfers, construction, securitized, mezzanine and permanent financings, conduit lending, exchanges, partnership and joint venture structuring, leasing and workouts.  Ms. Rothfuss is listed as one of the leading real estate practitioners worldwide in the International Who’s Who of Real Estate Lawyers 2012.  She received her law degree, cum laude, in 1996 from Harvard Law School, where she was a member of the Harvard Environmental Law Review and the Harvard International Law Journal.  She earned a Bachelor of Arts degree, with high honors, in Economics and Anthropology from the University of California at Berkeley in 1993.

Aric Shalev, Managing Member, Rockpoint Group

Aric currently focuses on all of Rockpoint’s western U.S. investment and asset management activities. Mr. Shalev joined Westbrook Real Estate Partners, L.L.C. (“WREP”) in September 1997 and is based in Rockpoint’s San Francisco office. Prior to joining Rockpoint, Mr. Shalev was involved in WREP’s western U.S. investment and asset management activities. Prior to joining WREP, Mr. Shalev worked for two years as a financial analyst in the Mergers, Acquisitions and Restructuring Department at Morgan Stanley. Mr. Shalev received a B.S. in Economics from the Wharton School of the University of Pennsylvania in 1995.

John G. Stumpf, Chairman, President and CEO, Wells Fargo & Company

John Stumpf became Chairman for Wells Fargo & Company in January 2010. He was named Chief Executive Officer in June 2007, elected to Wells Fargo’s Board of Directors in June 2006, and has been President since August 2005.

A 33-year veteran of the company, he joined the former Norwest Corporation (predecessor of Wells Fargo) in 1982 in the loan administration department and then became senior vice president and chief credit officer for Norwest Bank, N.A., Minneapolis. He held a number of management positions at Norwest Bank Minneapolis and Norwest Bank Minnesota before assuming responsibility for Norwest Bank Arizona in 1989. He was named regional president for Norwest Banks in Colorado/Arizona in 1991. From 1994 to 1998, he was regional president for Norwest Bank Texas. During his four years in that position, he led Norwest’s acquisition of 30 Texas banks with total assets of more than $13 billion.

In 1998, with the merger of Norwest Corporation and Wells Fargo & Company, he became head of the Southwestern Banking Group (Arizona, New Mexico and Texas). Two years later he became head of the new Western Banking Group (Arizona, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming). In 2000, he led the integration of Wells Fargo’s acquisition of the $23 billion First Security Corporation, based in Salt Lake City. In May 2002, he was named Group EVP of Community Banking. In December 2008, he led one of the largest mergers in history with the purchase of Wachovia.
He serves on the Board of Directors for The Clearing House, the Financial Services Roundtable, Target Corporation, and Chevron Corporation. He also serves on the Federal Advisory Council of the Federal Reserve Board as the appointed representative of the Federal Reserve Bank of San Francisco.
A Minnesota native, he earned his bachelor’s degree in finance from St. Cloud State University, St. Cloud, Minnesota and his MBA with an emphasis in finance from the University of Minnesota.

Ani Vartanian, Managing Partner, Rubicon Point Partners 

Ani co-manages the firm with her husband, Razmig Boladian. Rubicon Point Partners is a real estate investment firm based in San Francisco investing in those cities and neighborhoods where innovation is fostered and creativity is encouraged.  Rubicon strives to be the landlord of choice, helping companies succeed by providing them with open, creative, and collaborative space in great locations throughout the Bay Area.  Prior to starting Rubicon Point Partners, as a senior official at the U.S. Department of the Treasury, Ani helped stabilize the securitization markets during the financial crisis through the implementation of the Term Asset Backed Securities Loan Facility (TALF), a $200 billion lending program that supported the origination of millions of auto, student and small business loans.  Prior to her role at the U.S. Department of Treasury, she covered acquisitions, asset management, and portfolio management for Rockwood Capital and before then, Transwestern Investment Company.  Ani started her career at Goldman, Sachs & Co.  She is a graduate of Stanford University (BA) and Harvard Business School (MBA). 

Lori Yamauchi, Associate Vice Chancellor, Campus Planning UCSF

Lori has been an instrumental leader in UCSF’s significant programmatic growth and commensurate demands for enhanced campus planning.  Ms. Yamauchi provides organizational leadership for campus planning that is especially challenging in the San Francisco urban environment. She led the preparation of UCSF’s Long Range Development Plan and advises campus leadership on strategic decisions regarding the future use and development of UCSF sites and buildings, including Parnassus, Mission Bay, San Francisco General Hospital and Laurel Heights.  Mission Bay, in particular, is exceptionally complex given the history of agreements with the City of San Francisco over the years. At all locations, community sensitivity is paramount and Ms. Yamauchi has a great reservoir of credibility with community leaders.  An emerging responsibility is leadership of the enterprise-wide space management initiative with the critical intended outcome of identifying potentially underutilized space for reallocation to meet programmatic and functional needs. This new initiative will foster a major culture shift around space toward greater transparency and integrity in space assignment and use.


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 over 1,500 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. For more information about the Real Property Law Section, go here.


Paul Brest Hall - 555 Salvatierra Walk, Stanford, CA, 94305

The nearest parking lot to Paul Brest Hall is Parking Structure 6. This is an underground parking lot located off of Campus Dr. and Wilbur Way.

 Map of Paul Brest Hall and Parking


Paul Brest Hall -- Stanford University
 Stanford University  Stanford University