Human Behavior Behind the Winners & Losers of Commercial Real Estate
With many headwinds facing the commercial real estate market, the landscape will never be the same. In this panel, we will be exploring the following topics:
- Review of 2020 Performance
- Outlook for CRE in 2021
- How has COVID-19 affected valuations of various real estate assets since the beginning of 2020
- Misconceptions and reality
- Historical events that caused opportunities to make money in CRE
Human Behavior Behind the Winners & Losers of Commercial Real Estate
- Managing Director @
- Engineered TaxServices, Inc.
Michael D’Onofrio is the Managing Director of ETS and sits on the Executive Board. He has had a successful career in finance, energy consulting, and real estate development. Michael has founded numerous successful companies and is a valued member of the team. His strong business drive has added professionalism, consistency and significant growth to the company as a whole as he guides his clients along the path of increased success and missed opportunities for reduced tax liability. He has also mentored many ETS team members to the same success. Michael is originally from Southern Florida and recently relocated to Charlotte, North Carolina with his wife and two small children. They enjoy playing in the great outdoors, mountain biking, hiking, and sports. Michael also enjoys yoga, particularly Bikram Yoga (known as “hot” yoga), and rather than client golf outings, he will happily oblige any ETS clients with an hour of hot yoga instruction!
Joseph W. DeMatteo Sr.
- Founder & President @
- JDM Capital Hospitality Management
For almost three decades, Joseph has been a leading industry expert in the fields of hospitality and real estate management. His expertise in all facets of hospitality allows him to create one of a kind experiences that drive consumer demand and consistent returns for investors. An industry thought-leader and dedicated teacher, Joseph has spearheaded the asset management and hospitality programs as a faculty member and lecturer at NYU Masters Program at the Real Estate Institute, and Northeastern University’s D’Amore McKim School of Business.
His educational accomplishments include a B.S. in Finance from the State University of New York, the completion of an Executive Management Program from Harvard Law School, a Degree in Building and Construction Management, Certificates in International Business and Finance & Hotel Operations all from New York University.
- Chief Operating Officer @
- Sunstone Properties Trust
Elizabeth Fujino serves as the Chief Operating Officer of Sunstone. She previously served as an Associate with Suburban Land Reserve, a land investment and development company. Ms. Fujino has experience in various types of real estate assets including master planned communities, condominium conversions, industrial parks and multifamily. During her 10 years of real estate experience, she has worked on projects in various development stages ranging from entitlement, acquisition, management and disposition. Ms. Fujino received a B.A. in marketing and advertising from Brigham Young University and an MBA from Brigham Young University’s Marriott School of Management. She is also a member of the Urban Land Institute. Ms. Fujino is married and has one son.
- VP, Family Office & Advisor Relations
Lisa Forster joined Group RMC in 2019 as an Vice President, Advisor Relations where she represents and markets the firm’s investment strategy to prospective investment partners across the United States. Prior to joining Group RMC, Lisa worked in the Equity Division of Time Equities Inc. where she was responsible for marketing and distributing Time Equities’ real estate investment opportunities through private and institutional investor networks. At Time Equities, she gained experience syndicating new acquisitions that spanned across a broad range of asset classes and geographies. Lisa holds a Bachelor’s Degree in Political Science with Minors in Business and Communications from Villanova University.
- Senior Vice President @
- CBRE Group, Inc
Larry W. Genet is a Senior Vice President in the CBRE, Inc. Miami, FL office. As part of the CBRE platform Mr. Genet can provide a wide range of services from local to Fortune 1000 clients including agency and tenant representation, asset or portfolio management, high level logistics, labor and data analytics prior to site selection, project/construction management, capital markets, owner user sales and valuation advisory services. CBRE is the global leader for real estate services worldwide. Larry has extensive experience in landlord agency, tenant representation, acquisitions, dispositions and property management. As a third-generation commercial real estate professional and South Florida native, Larry boasts deep community ties, an intimate knowledge of the South Florida market and numerous professional contacts. Larry’s leasing expertise of industrial, office, land, retail and medical properties coupled with his experience in acquisitions and dispositions gives him the ability to represent a myriad of clients in the South Florida market. Additionally, Larry controls a portfolio of 13.5 million square feet allowing him to see every deal in the market. This ensures his clients never miss an opportunity. His knowledge of tenants and buyers in the market is top notch and when coupled with his team's vast portfolio, it's a winning combination.
JDM Capital Hospitality Management
JDM Capital Hospitality Management Group provides operating and financial support for the day to day management and asset oversight of Hospitality assets. We are actively seeking Redevelopment, Re-Purposing and Acquisitions to be repositioned as a *participating mezzanine, *preferred equity, *GP, and *co-GP partner with a focus on operational control positions.
Sunstone Properties Trust
Sunstone is a fully integrated real estate operator, developer and fund sponsor in business since 2012. After 30 years in the commercial real estate business, the founders of Sunstone chose workforce multifamily housing as a sector because of its solid performance throughout varying economic cycles. Sunstone performs its own architectural design work, construction, asset management and fund management to achieve maximum efficiency, cost containment and investor returns. Its acquisition team sources transactions with proprietary software and a network of local brokers. Capital markets works with investors and lenders to optimize Sunstone's access to debt and equity. Risk is managed through a comprehensive due diligence and underwriting process with investment committee oversight. Hands-on portfolio management is effected from acquisition through disposition. Sunstone's markets include Texas, Florida, California, Arizona and Nevada.
Engineered TaxServices, Inc.
Engineered TaxServices, Inc. (ETS) is a licensed engineering firm that focuses on federal, state, and local tax benefits. Engineered Tax Services was founded by CEO, Julio Gonzalez, to bring specialty tax engineering services to mainstream America. There are several federal tax incentives in which the IRS requires professional engineers and scientists to determine the tax benefits in the areas of real estate and manufacturing. Specific to real estate is the ability to depreciate real estate investments by components vs. the traditional expensing of real estate over a 39 or 27.5-year period. A forensic engineering study of a real estate property, in which the building is depreciated component by component, allows investors to expense up to 50% (and in some cases, more because of 100% bonus depreciation) of the purchase of their building up front.Decades ago, cost segregation was only available to real estate investors who worked with the Big 4 accounting firms who had dedicated engineering staffs. Mr. Gonzalez’s goal was to be a resource to the CPA community so that these services could be available to all real estate investors, big or small. Cost segregation continues to be one of the largest tax incentives for wealth preservation. There are very few investments that the United States Federal government allows investors to expense dollar for dollar. Real estate is the one investment from which you can deduct 100% of the purchase price against taxable income. Inherently, this allows for a 50% return on investment at a 50% federal and state tax bracket. Cost segregation allows the investor the ability to mitigate tax liabilities and preserve wealth by accelerating these deductions much quicker. Engineered Tax Services also uses its engineering, scientific and tax team to provide one of the most important federal and state tax credits available to United States businesses in the form of research and development tax credits (R&D). R&D Tax Credits are meant to incentivize manufacturing, innovation and technical design in the United States. These credits are essential to keep labor and promote job creation in the United States. Qualifying activities include developing new or improved products or manufacturing processes, tool and die development, technical design in the construction industry, software development, fracking and drilling technique development, and developing new or improved drugs or formulas, just to name a few. The R&D Tax Credit is a very important federal incentive meant to ensure that US companies remain competitive globally.
CBRE Group, Inc
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.