Fresh Capital, Fresh Ideas

Fresh Capital, Fresh Ideas

Yale Alumni Real Estate Association National Conference

The Yale Alumni Real Estate Association (Yale AREA) and the International Center for Finance at the Yale School of Management are pleased to present a national real estate conference, Fresh Capital, Fresh Ideas, on April 4, 2014

The conference, which has convened annually at Yale since 2008, provides alumni, students, and faculty a chance to engage with leading thinkers in real estate and the built environment—and with one another.  The purpose of the conference is broader than simply “an industry gathering.”  Instead, it is a venue to focus on new ideas and trends shaping a field that has a potent impact on the fabric of our communities.

This year, the conference has drawn an exciting slate of speakers, both distinguished academics and practitioners, from as far away as Shanghai and San Francisco.  The conference will take up topics including: the future of cities; asset pricing; new models for living and working; perspectives of international investors in the U.S.; and “crowd-funding” models for real estate.

The conference is completely full. Please email ICF@yale.edu to be placed on a waitlist.

The Conference is open to Yale alumni, faculty, students, and administrators.  While priority will be given to members of the Yale community, guests who are sponsored by a member of the Yale community (also attending the conference), will be wait-listed and admitted (in the priority of their registration) based on availability.

Join Yale AREA LinkedIn group.
Follow Yale Area on Twitter @YaleAREA and post about the conference using #YaleAREA and @YaleICF.

2014 Yale Alumni Real Estate Association National Conference

Speakers

Alexa Arena
Senior Vice President, Forest City
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Alexa Arena leads Forest City’s Northern California Team as the head of the SF office. Alexa was the developer on the recently completed Presidio Landmark. Presently Alexa is working on the redevelopment of approximately 4-acres in downtown San Francisco in partnership with the land owner, the Hearst Corporation. Referred to as the 5M Project, the Project is a pioneering model for both conceptualizing and fostering communities that serve our innovation economy. It reframes real estate as a tool for the creative process and uses a series of unique techniques to instigate demand and establish place as a platform for innovation. Similarly, the SF Team is working on the Pier 70 project, a 25 acre waterfront revitalization at the edge of the Dogpatch neighborhood that is a public-private partnership with the Port of San Francisco. The Office is likewise working on a series of smaller residential projects, such as 2175 Market Street, the building o 88-units in the Market-Octavia corridor. Alexa has a graduate degree from Harvard Business School and the Public Policy School, and is a SPUR Board Member.
Frances Beinecke
President, NRDC
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Frances Beinecke is the president of NRDC, a leading nonprofit environmental group that works to preserve clean air and water, protect people’s health, preserve wild landscapes, and foster vibrant and sustainable communities. Using legal and scientific expertise, NRDC creates and enforces the laws that protect our environment. Under Ms. Beinecke’s leadership, NRDC has focused on finding solutions to some of the biggest environmental challenges of our time, including establishing a clean energy future that curbs climate change, reviving the world's oceans, defending endangered wildlife and wild places, protecting our health by preventing pollution, fostering sustainable communities, and ensuring safe and sufficient water. Prior to becoming the president in 2006, Ms. Beinecke served as the organization’s executive director for eight years. In 2010, Ms. Beinecke was appointed by President Obama to the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling. She is a member of the Secretary of Energy’s Advisory Board (SEAB); she serves on the Advisory Boards of the MIT Energy Initiative, National Academies of Science and World Resources Institute (WRI). Ms. Beinecke received a bachelor’s degree from Yale College and a master’s degree from the Yale School of Forestry and Environmental Studies. She has co-chaired the Leadership Council of Yale School of Forestry, is a member of the Yale School of Management’s Advisory Board and is a former member of the Yale Corporation. Ms. Beinecke has received the Yale Medal from Yale University and numerous distinguished honors. She was awarded an honorary degree from Lehman College, Doctor of Humane Letters, as well an honorary degree from Vermont Law School, Doctor of Laws.
David Burton
Leed AP Associate, Foster + Partners
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David Burton is an associate at Foster + Partners, based in the New York office. His experience spans the design of educational projects and mixed-use high-rise developments to luxury resort destinations. Having studied architecture at Kansas State University and at Czech Technical University, in Prague, he graduated Magna Cum Laude in 2006. Joining Foster + Partners shortly after graduation, he initially worked on the historic hotel The Dolder Grand, which has been reinvented to form a luxury-class city resort, in Zurich. The scheme integrates a substantial new extension, more than doubling the hotel accommodation and reconnecting it to the surrounding forest and resort. He built on this experience in the design of the Bodrum Sustainable Resort in Turkey, a self-sustaining development for which he was involved from conceptual through to detail design. Subsequently, he worked on the winning competition design for the redevelopment of the Al Faisaliah in Riyadh, a major mixed-use development that was originally completed by the practice in 2000. He was later responsible for developing the external envelope of the 53-storey, mixed-use Skymark Tower in Istanbul. The tower includes offices, residential areas, retail space, a spa and rooftop restaurant. Its gently tapering form and illuminated top will become a new destination for the city. More recently, he has worked on the recently completed Yale University School of Management. The campus unites the faculty departments together at a single location for the first time and its five-storey, highly transparent building contains dynamic, flexible teaching and social spaces, arranged around an open central courtyard to reinforce the interactive quality of the educational ethos.
Martin Caverly
CEO, EVOQ Properties
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Mr. Caverly is a seasoned real estate private equity investor with over 25 years of direct and platform real estate investing experience. Prior to joining EVOQ Properties, Mr. Caverly founded a real estate consulting, advisory, and principal investing firm, 2120 Partners, focused on fundraising, operational and investing strategies for existing real estate platforms and institutional and high net worth investors. Mr. Caverly was previously a Principal at O’Connor Capital Partners where he opened and headed all West Coast operations for the firm. Mr. Caverly also held senior positions with Security Capital Group in Chicago and Tishman Speyer in London where he was the head of European acquisitions for Tishman’s core and opportunistic funds. While in London, Mr. Caverly also cofounded Centric Telecom, a real estate technology company sponsored by Goldman Sachs and Providence Equity Partners. A native of Los Angeles, Mr. Caverly began his career at Citigroup Real Estate in New York. Mr. Caverly holds a BA from Harvard College and received his MBA from Northwestern University’s Kellogg Graduate School of Management. Mr. Caverly is a frequent panel speaker and an active member of numerous real estate organizations.
Scott Crowe
Global Portfolio Manager, Managing Director at Resource Real Estate
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Scott Crowe serves as Global Portfolio Manager for the Resource Real Estate Diversified Income Fund and Global Opportunity Strategy. Prior to joining, Mr. Crowe was the lead Global Portfolio Manager for Cohen & Steers where he led the investment and research team of over 20 portfolio managers and analysts. Mr. Crowe was accountable for over $10B in FuM across the global, international and emerging market portfolios. Previously, Mr. Crowe held the position of Head of Global Real Estate for UBS equities research where he built and managed the US REIT division while leading a global team of more than 40 analysts. Mr. Crowe began his career at Paladin Property Securities and was also an Associate Lecturer at the University of Technology Sydney. Mr. Crowe received an Honors Finance Degree from the University of Technology Sydney and a Bachelor of Commerce from the University of NSW/National University of Singapore.
Edward Glaeser
Fred and Eleanor Glimp Professor of Economics, Harvard University
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Edward Glaeser is the Fred and Eleanor Glimp Professor of Economics in the Faculty of Arts and Sciences at Harvard University, where he has taught since 1992. He is Director of the Taubman Center for State and Local Government and Director of the Rappaport Institute of Greater Boston. He regularly teaches microeconomic theory, and occasionally urban and public economics. He has published dozens of papers on cities, economic growth, and law and economics. In particular, his work has focused on the determinants of city growth and the role of cities as centers of idea transmission. He received his PhD from the University of Chicago in 1992.
Stanley Garstka
Professor in the Practice of Management, Yale School of Management
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Professor Garstka is an expert in the bankruptcy process and has written on ways to reform it. His general interests include contemporary issues in accounting and the restructuring of troubled companies. His research has been published in leading management science and accounting journals. He has co-authored three accounting texts, the most recent, Financial Accounting, 2004, South-Western College Publishing, was co-authored with Rick Antle. Professor Garstka has served on the boards of several corporate and nonprofit organizations, has consulted widely to organizations in all sectors, and recently served as the independent consultant for Thomas Weisel Partners LLC to procure independent research providers as part of the global settlement of conflicts of interest between research and investment banking announced by the SEC.
Charles S. Henry
President, Hotel Capital Advisors, Inc.
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Chuck Henry founded Hotel Capital Advisers in 1994 to manage the international hotel investment activities of HRH Prince Alwaleed Bin Talal of Saudi Arabia. Mr. Henry oversees a portfolio of hotel real estate and operating company investments for Prince Alwaleed’s Kingdom Holding Co. with an equity value in excess of $2 billion. Prominent assets in the portfolio include the Plaza in New York, the Savoy Hotel in London, and the Four Seasons George V in Paris. In addition, Mr. Henry serves on the Board of Directors at Four Seasons Hotels, Fairmont Raffles Hotels International, and Movenpick Hotels. Prior to founding HCA, Mr. Henry spent nine years in investment banking at CS First Boston and Salomon Brothers, where he was responsible for capital raising, property sales, and merger and financial advisory assignments in the hotel industry, including the sales of Regent International, Ramada, Holiday Inns, and Motel 6. Earlier in his career Mr. Henry spent two years on the financial management faculty of Cornell University’s School of Hotel Administration. Additionally, he worked at Prudential Insurance in hotel asset management and at Hilton International in operations analysis. Mr. Henry received a BS in Hotel Administration and an MBA in finance from Cornell University.
Graham Hill
Founder and CEO, LifeEdited
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A consummate entrepreneur, Graham Hill has built companies including web shop SiteWerks, product company WeAreHappyToServeYou.com and TreeHugger.com. His energies are now focused on LifeEdited, a socially conscious real estate startup that is starting a design movement around doing more with less (get their newsletter). He studied architecture and industrial design and schemes how he can help humanity avoid rapid extinction. Follow him at @ghill.
Frank Lively
Executive Vice President, Wafra Investment Advisory Group, Inc.
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Mr. Lively is responsible for determining the policies and strategic direction of Wafra Investment Advisory Group Inc.’s Real Estate Division. Wafra is the U.S. investment arm of the Public Institution for Social Security, the $105 billion dollar social security trust fund for the State of Kuwait. Wafra manages over $13 billion in assets. Mr. Lively's experience in the real estate industry spans over thirty‐five years and includes development, financing, management, consulting/ advisory, accounting, auditing, and brokerage. During his career, he has directed investments and dispositions of assets with an aggregate value in excess of $3 billion. In 1990, Mr. Lively established Lively & Associates, a full service real estate firm. He remained as president of the firm for seven years before it was acquired by Wafra in 1997. Mr. Lively holds a Master's Degree in Real Estate Finance and Development from New York University and a Bachelor's of Science in Accounting from Manhattan College. He is currently a full member of the Urban Land Institute, and an Executive Board Member and Treasurer of AFIRE (Association of Foreign Investors in Real Estate), an international investor association. Mr. Lively is also a licensed Real Estate Broker in the State of New York. He has written numerous articles regarding real estate and related subjects, and frequently participates on panels and in conferences on a wide range of real estate topics.
Miguel McKelvey
Co-Founder and Chief Creative Officer, WeWork Companies
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Miguel McKelvey is Co-Founder and Chief Creative Officer of WeWork Companies. As an entrepreneur and interdisciplinary designer, Miguel is particularly passionate about the way the design quality and aesthetics affect the way we connect and communicate, and ultimately determine our success on multiple levels. In addition to the creation of WeWork, he has used his diverse experience in startup ventures, architecture, construction, user experience and software design to help create a number of thriving companies. He was involved in the early stage development of several ventures that have gone on to great success, including American Apparel, Barre3, Green Desk & Versation. Miguel has been a part of the startup community in Portland, Oregon and New York City since 1999. He studied architecture at the University of Oregon.
Daniel Miller
Co-Founder, Fundrise
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Daniel is the co-founder of Fundrise, a real estate crowdfunding that platform that let’s anyone invest directly in commercial real estate, for as little as $100. Founded in Washington, DC in 2010, Fundrise was the first company in the nation to equity crowdfund real estate for non-accredited investors, raising $325,000 from 175 residents of Washington, DC and Virginia for the company’s first project. The Fundrise concept was born during Daniel’s time as a real estate developer, frustrated by the broken connection between a neighborhood’s desires and institutional investors' bottom line. By allowing local citizens to be investors in real estate projects, development could more in tune with a neighborhood’s needs. Fundrise has since expanded as a national platform for real estate companies to raise capital in small amounts from thousands of investors. Daniel graduated from The Wharton School of the University of Pennsylvania as a submatriculant with a dual B.S. and M.B.A. Fundrise has since expanded as a national platform for real estate companies to raise capital in small amounts from thousands of investors. Daniel graduated from The Wharton School of the University of Pennsylvania as a submatriculant with a dual B.S. and M.B.A.
Abe Naparstek
Senior Vice President, East Coast Development, Forest City Residential Group
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Abe Naparstek is a Senior Vice President in the Residential Group of Forest City Enterprises. In that capacity he manages potential and ongoing residential opportunities for the company in the Northeast. Abe is the lead developer on a number of complex mixed-use projects, including a ground-up development and an adaptive re-use project utilizing state and federal historic tax credits. Prior to this position, Abe worked in the Commercial Group of Forest City Enterprises. In that role he managed a capital construction project in Pittsburgh, PA, utilizing a state capital grant. Prior to his work at Forest City, Abe was the Assistant County Manager of Allegheny County. In that capacity, he worked on a number of policy initiatives for the County with a primary focus and responsibility in economic development and government relations. Abe was the primary interface with the County’s eight regional government entities and helped implement Tax Increment Funding packages for development projects that totaled over $250 million. Abe also represented the County Executive at County Council and with the state legislative delegation. Abe is a member of the Coro National Board of Governors, a national leadership training organization with offices throughout the country. He received his Bachelor of Arts degree from the University of Rochester and received a Master’s Degree in Public Policy from Carnegie Mellon University. He is a proud Clevelander who currently resides in Brooklyn, NY with his wife Anne and two children.
Rodrigo Nino
CEO and Founder, Prodigy Network
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Rodrigo Nino, CEO and founder of Prodigy Network, is revolutionizing both the real estate and crowdfunding industries by being the first to meld the two worlds. After successfully representing numerous projects in Miami for sales and marketing, Nino brought Prodigy Network to Manhattan in 2007 and immediately started working on some of New York’s most iconic projects, including Andre Balazs’ residential condominium, William Beaver House and the Trump Organization’s ground breaking hotel condominium, Trump SoHo. Meanwhile, Nino continued to build on his success and expand internationally by pursuing projects in Mexico, Colombia, and Panama. Nino developed a crowdfunding model as a safe and innovative way of giving smaller investors access to large real estate assets. With this model, he set the world record in crowd funding by summoning 4,200 investors and raising more than $200 million in less than two years to fund the tallest building in Colombia, the BD Bacata. Nino is also the creator of My Ideal City, an initiative sponsored by the project BD Bacata in Bogotá, the first skyscraper in Colombia. My Ideal City is essentially an urban planning model that allows people to engage in a conversation with world-class experts on the future of the city thanks to a technology platform and social networks. This innovative crowd creation and bottom-up approach, combined with crowdfunding, allows citizens to not only define the ideal city in which to live, but also to finance it. My Ideal City was featured in the architectural gallery AEDES in Berlin, gaining global relevance as the way to define the cities of the future. With Nino’s direction Prodigy Network leads a range of impressive crowdfunding projects worth over 250 million dollars in Colombia including BD Bacata, Bacata Express, Aeropuerto Business Hub and Bogota Art District. By completing AKA Wall Street, a 90 million dollar project in Manhattan under the Reg-S exemption for foreign nationals, Nino pioneered crowdfunding in the U.S. with investors from over six different nationalities. Nino’s crowdfunding model is known for encompassing a third party fiduciary company to ensure full disclosure and added transparency. His current project is 17 John, an extended stay hotel in lower Manhattan, which upon completion will stand 23 stories high, and have 191 furnished units. World-renowned architect Winka Dubbeldam is the lead architect on the project. With 15 years of seasoned experience in real estate, Nino is often featured in leading publications, including The Wall Street Journal, Businessweek, Forbes, The Economist, The New York Times, Fast Company, and Mashable. Also a distinguished speaker, he has spoken worldwide conferences and was a noteworthy guest at PSFK Conference 2013 and the AEDES gallery in Berlin. Nino, a Colombian native and a Manhattan resident, has created Prodigy Network’s proven crowdfunding model to deliver international real estate opportunities to small accredited investors to access returns previously unattainable by most.
Robert Shiller
Sterling Professor of Economics, Yale School of Management
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Robert J. Shiller is Sterling Professor of Economics, Department of Economics and Cowles Foundation for Research in Economics, Yale University, and Professor of Finance and Fellow at the International Center for Finance, Yale School of Management. He received his B.A. from the University of Michigan in 1967 and his Ph.D. in economics from the Massachusetts Institute of Technology in 1972. He has written on financial markets, financial innovation, behavioral economics, macroeconomics, real estate, statistical methods, and on public attitudes, opinions, and moral judgments regarding markets. Professor Shiller was awarded the 2013 Nobel Prize in Economic Sciences, together with Eugene Fama and Lars Peter Hansen of the University of Chicago, "for their empirical analysis of asset prices." His 1989 book Market Volatility (MIT Press) is a mathematical and behavioral analysis of price fluctuations in speculative markets. His 1993 book Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks (Oxford University Press) (available via subscribing libraries on Oxford Online) proposes a variety of new risk-management contracts, such as futures contracts in national incomes or securities based on real estate that would permit the management of risks to standards of living. His book Irrational Exuberance (Princeton 2000, Broadway Books 2001, 2nd edition Princeton 2005) is an analysis and explication of speculative bubbles, with special reference to the stock market and real estate. His book The New Financial Order: Risk in the 21st Century (Princeton University Press, 2003) is an analysis of an expanding role of finance, insurance, and public finance in our future. His book Subprime Solution: How the Global Financial Crisis Happened and What to Do about It, published in September 2008 by Princeton University Press, offers an analysis of the housing and economic crisis and a plan of action against it. He co-authored, with George A. Akerlof, Animal Spirits: How Human Psychology Drives the Economy and Why It Matters for Global Capitalism published in March 2009 by Princeton University Press. His latest book, Finance and the Good Society, was published in April 2012 by Princeton University Press. His repeat-sales home price indices, developed originally with Karl E. Case, are now published as the S&P/Case-Shiller Home Price Indices. The Chicago Mercantile Exchange now maintains futures markets based on the S&P/Case-Shiller Indices. He has been research associate, National Bureau of Economic Research since 1980, and has been co-organizer of NBER workshops: on behavioral finance with Richard Thaler since 1991, and on macroeconomics and individual decision making (behavioral macroeconomics) with George Akerlof since 1994. He served as Vice President of the American Economic Association, 2005 and President of the Eastern Economic Association, 2006-07. He writes a regular column "Finance in the 21st Century" for Project Syndicate, published around the world, and "Economic View" for The New York Times.
Christopher West
Partner, Foster + Partners, London
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Christopher West graduated from the University of Pennsylvania in 1986 and from Rice University in 1994. He joined Foster + Partners in 1995, initially working on the design of a mixed-use scheme for the King Faisal Foundation in Riyadh. He later worked on several projects including the design for Paragon, the Tag McLaren headquarters in Woking, a one million square foot car manufacturing and R&D facility for the Formula One team. He then participated in the schematic design for the Center for Clinical Sciences Research at Stanford, a biomedical laboratory. He later moved to California to review the construction of the project on site. This project led to further work at Stanford with the James H. Clark Center for Biomedical Sciences, for which he was the primary client liaison, responsible for the design of the complex laboratory systems as well as the interior fit-out. Relocating to the London office, he managed the fit-out design of the Hearst Tower in Manhattan. He subsequently worked on a masterplan for City Center DC, a one and a half million square foot mixed-use development in the heart of downtown Washington. Following this he led the team designing the new School of Management at Yale University, which opens in 2013. He is currently working on the design for the new University of Iowa Children’s Hospital in Iowa City.