Multi Family, Retail & Hospitality Post COVID-19
Since the COVID - 19 crisis broke out, 40 million people became unemployed, businesses have shut down and global central bank have conducted swift and unprecedented monetary support to alleviate conditions brought on by the Pandemic. This panel will discuss in detail what is being seen in the different verticals of real estate and what to expect in the 3rd & 4th quarter with existing assets and special situations on the horizon.
- What are you seeing with regards to your vertical as the economy begins to be brought back online?
- Are there signs of light at the end of the tunnel? If so, what does it look like?
- What is keeping you up at night?
- Are deals being done in your space right now? At what discount? Where do you see deals being done in the next 6 months, next 18 months?
- Where do you see the opportunities?
Event Recording
Multi Family, Retail & Hospitality Post COVID 19
Speakers
Chrystalle Anstett
- Title
- Head of Capital Formation @
- Company
- Sound Mark Partners LLC
- Role
- Moderator
Ms. Anstett is the Head of Capital Formation for Sound Mark Partners. In this role, she is responsible for supporting the firms limited partners through proactive, insightful and transparent communications, and for continuing to develop new investor relationships, distribution channels and capital sources. Ms. Anstett has over 20 years of institutional investment experience, spanning roles in research, capital strategy and investor relations. Prior to joining Sound Mark, Ms. Anstett was the Co-Head of Private Credit for Eaton Partners, a global capital advisory firm, where she led the origination and underwriting of the firm's credit-related offerings. Prior to joining Eaton Partners, Ms. Anstett helped build the business development and investor relations group at QFS Asset Management, a $1.4 billion systematic global macro hedge fund. Previously, she held several roles at Goldman Sachs Asset Management, beginning in the Business Development Services group and later joining the Fixed Income Product Management team. She began her career at Lazard Asset Management in accounting and later joined the institutional marketing group. Ms. Anstett is the author of several articles and white papers on institutional investment strategies, which have been featured in Absolute Return, Bloomberg Markets and HFM Investor Relations. She is a frequent speaker on trends in institutional investing. Ms. Anstett graduated cum laude from New York University Stern School of Business, where she received a BS in Economics and International Business and was a Stern Scholar. She is a Chartered Financial Analyst.
Joseph W. DeMatteo Sr.
- Title
- Founder & President @
- Company
- JDM Capital Hospitality Management
- Role
- Panelist
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.
Ernest Johnson
- Title
- Executive Managing Director @
- Company
- ApexOne Investment Partners
- Role
- Panelist
Ernest is an Executive Managing Director with ApexOne Investment Partners, a private equity firm investing in the multifamily sector. Ernest focuses on capital markets, fund strategy, financial administration, and investor communications. Ernest has extensive real estate experience with some of the industry-leading firms, including 17 years with PM Realty Group and 10 years with JMB Property Company.
Immediately following graduation from college, he managed a national multifamily student housing portfolio and was responsible for all facets of operations, including acquisitions, dispositions, construction, and finance.
Ernest is actively involved with National Multifamily Housing Council. He serves on the Advisory Council for Auburn University’s Master of Real Estate Development program and is also on the University of Florida’s Bergstrom Real Estate Center Advisory Board. Ernest previously served as the Chairman of the Board of Trustees for the Lone Star Chapter of the National Multiple Sclerosis Society and has been inducted into the MS Society’s National Fundraising Hall of Fame. Ernest graduated with a Bachelor of Science in Business Administration from Auburn University (1980).
Tony Barkan
- Title
- Founder, CEO and Managing Principal @
- Company
- Allagash Partners
- Role
- Panelist
Tony Barkan is the Founder, Managing Principal, and CEO of Allagash Partners. Prior to founding Allagash, from 2008-2015, Mr. Barkan was one of five Founding Principals and the Head of Commercial Real Estate at Seer Capital Management, an SEC-registered investment management company with $4 billion AUM. Mr. Barkan planned and executed Seer’s LMI workforce housing value-add strategy; developed and ran the second largest global CMBS B-Piece investment businesses, driving transactions on over $20 billion of US CRE properties; and structured and invested into significant Mezzanine Loan exposure. Prior to Seer Capital, from 2001-2008, Mr. Barkan built and ran alternative investment platforms at Clinton, Harbert, and Sailfish managing portfolios with peak investor equity over $1 billion, a peak long asset portfolio over $10 billion, and peak total market exposure of almost $20 billion while leading teams as large as 20 people.
Notably, Mr. Barkan was an early identifier of the real estate-led economic crisis and by the beginning of 2007 had migrated his hedge fund portfolio to be entirely short using real estate-backed credit derivatives . From 1997-2001, Mr. Barkan was a Senior Portfolio Manager and investment committee member at Pareto Partners (originally Forstmann-Leff). Mr. Barkan began his career trading a range of real estate, commodity, and currency products at Salomon Brothers, Goldman Sachs, and ED&F Man Group from 1988-1997 . Mr. Barkan supports Here Arts Center, Scholars at Risk, and CaringKind: The Heart of Alzheimer’s Caregiving. Mr. Barkan graduated from Princeton University where he was selected to the Honor Committee, and he is a member of the Triple Nine Society.
Peter Foran
- Title
- Executive Vice President @
- Company
- Pine Tree
- Role
- Panelist
Mr. Foran is Executive Vice President of Portfolio Management for Pine Tree Commercial (“Pine Tree”) and a member of the company’s Executive Management Team. Pine Tree is a vertically integrated retail real estate operating partner and GP with properties nationwide including management of IRC Retail Centers, a private REIT which at it’s peak operated 140 assets and more than 18 million square feet of gross leasable area. His primary responsibilities include managing the strategic and tactical oversight of the investment side of the business and communication with investors.
Prior to IRC, Mr. Foran was Senior VP or Portfolio Management and Transactions at IRC Retail Centers which merged operating platforms with Pine Tree. Prior to that, Mt Foran was at L&B Realty Advisors, an investment management firm overseeing and asset managing retail shopping centers nationwide on behalf of large institutional clients and pension funds. Mr. Foran has also worked as an investment sales broker and co-founded a small technology company.
Mr. Foran holds an MBA from the University of Chicago Booth School of Business and is an active member in ICSC and other local real estate groups. In his spare time he enjoys spending time with his family, golf, and trying to gather new experiences.
About
ApexOne Investment Partners
ApexOne Investment Partners, LLC, a Texas limited liability company, is headquartered in Houston, Texas, with offices in Chicago, Illinois, Boca Raton, Florida, and Phoenix, Arizona, and, together with its affiliates, has substantial experience in real estate acquisition, syndication, financing, development, and disposition, as well as real estate transaction management. James A. Hearn, Ernest Johnson, Tim Burns, William Saul, and David Steele are the principals of ApexOne (the “Principals”).
Following on the success of ApexOne Growth & Income Fund I, LP, a Delaware limited partnership (“Fund I”), ApexOne Growth & Income Fund II, LP, a Delaware limited partnership (“Fund II”), and ApexOne Multifamily Fund III, LP, a Delaware limited partnership (“Fund III”), ApexOne has formed ApexOne Multifamily Special Situation Fund IV, LP, a Delaware limited partnership (the “Partnership”), to make investments in direct and indirect equity interests in multifamily residential properties, including those requiring capital infusion, repositioning, post-development leasing or which may be subject to a distressed sale, as well as indebtedness secured by such multifamily residential properties.
ApexOne Investment Partners has acquired 46 properties and invested over $1.5B in workforce and student housing communities over the last seven years. ApexOne prides itself on providing excellent living environments to its residents, high returns, and transparent communications to its investors while reducing the environmental impact of their properties. Their fund level returns on fully cycled properties have averaged over 28% and Over 94% of ApexOne’s investors have repeatedly invested in all three of their Funds.
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.
Allagash Partners
Allagash Partners offers institutional and HNW investors strategies focused on the wealth of opportunities within the US residential real estate market, stemming primarily from the longstanding, massive shortage in affordable working-class rental properties. These investments are currently being offered as both multi-property private equity real estate funds and as single property investments for compelling opportunities that do not fit within any current Fund’s mandate. The strategies are designed to be scalable and to consistently provide 15%+ net returns while also preserving investor’s capital. Allagash, through its subsidiary Allagash Opportunity Zone Partners which is in process of registering both with the SEC as an RIA and with the CDFI Fund at the Department of Treasury as a Community Development Entity, began active investment activities in 2019 with the Allagash Opportunity Zone CRE Fund I. The firm is now launching the Allagash Multifamily Opportunity Fund I, which seeks to opportunistically purchase, intelligently renovate, efficiently manage, and strategically sell underperforming working-class rental housing properties throughout the US. Allagash was founded by Tony Barkan who serves as Managing Principal and CEO and chairs the investment and operations committees. Allagash’s senior partners bring over 100 years of commercial real estate experience with particular expertise in working-class multifamily housing especially in secondary US markets, which Allagash believes can provide investment opportunities with outsized returns and moderate risk. Additionally, Allagash believes that projects which actively seek to provide a positive social impact should generate higher returns while presenting lower risk. As a result, Allagash seeks to work closely with communities into which it invests in order to understand their community development goals and methodologies for improving stability and resiliency.
Pine Tree
Pine Tree understands the new retail paradigm. Uniquely positioned for the future, Pine Tree has evolved across its 25-year track record to build one of the industry’s most experienced retail real estate companies with a national, vertically-integrated, and risk-agnostic platform. A leader in the development, acquisition, leasing and management of retail properties throughout the United States, and with retail partners ranging from superstores to specialty shops and local chains, Pine Tree currently has $3 billion in assets under management.
Sound Mark Partners LLC
Sound Mark Partners LLC (Sound Mark or the Firm) is a women-owned and led private credit firm focused on commercial real estate. The Firm was established in 2013 as a team lift-out from CBRE Group, the largest commercial real estate services company globally. Led by Jenna Gerstenlauer, former Chief Investment Officer of CBRE and a 25-year commercial real estate veteran, the Sound Mark team has been investing together for over 10 years. Sound Mark focuses on making directly originated subordinate loans (mezzanine and preferred equity) to local owner-operators of commercial real estate. The Firm targets small deal sizes ($5M - $40M) in high-growth primary and secondary US locations, and emphasizes areas designated as Innovation, Eds and Meds districts. Based in Greenwich, CT, the Firm has deployed $400M across the flagship Sound Mark Horizons Fund (the Fund) and separate account vehicles.