Charlton Hamer, Senior VP of Habitat Affordable Group, on Affordable Housing and The Habitat Company

In this episode of Real Estate for Breakfast, host Phil Coover is joined by Senior Vice President of the Habitat Affordable Group, Charlton Hamer. Phil and Charlton discuss the affordable housing sector of the commercial real estate market, including development, funding and property management and operations. They discuss some interesting projects undertaken by the Habitat Affordable Group, including those in Opportunity Zones, and the impact of COVID-19 on affordable housing and commercial real estate.

The Habitat Company is a full-service real estate company with a people-first foundation and an emphasis on service.

As Senior Vice President of Habitat Affordable Group, Charlton Hamer provides leadership and oversight for all affordable housing clients, both development and property operations. Habitat’s affordable portfolio consists of 13,000+ units located in Chicago, Illinois, and St. Louis, Missouri. Charlton's experience spans development and both asset and property management. His focus on top-level operations sets the stage for portfolio growth in the affordable housing market.

Charlton has served in several leadership roles at real estate firms like Redstone Urban Properties, LLC; VESTA Corporation and Shore Area Community Development Corporation.

Professionally, Charlton is a member of the Urban Land Institute, the American Planning Association and the University of Illinois Alumni Association. Additionally, he served as the chairman of the Bridgeport, Connecticut, Redevelopment Agency.

Charlton holds a Master of Urban Planning and Policy from the University of Illinois at Chicago and a Bachelor of Arts in Urban Planning from the University of Illinois at Champaign-Urbana. He is a licensed real estate broker in the state of New York.

For more information, please visit http://www.habitat.com/.

Willy Walker, CEO of Walker & Dunlop, on Capital Markets During COVID-19

In this episode of Real Estate for Breakfast, Willy Walker, chairman and chief executive officer of publicly traded Walker & Dunlop, joins host Phil Coover to discuss the capital markets and the impact of the Great Recession and COVID-19 on that industry, as well as Walker and Dunlop’s explosive growth over the past 12 years. While discussing the evolution and growth of Walker & Dunlop, Mr. Walker and Phil discuss specific industry sectors such as hospitality and retail from both the landlord and tenant perspective. In addition, they dive into office space and how the need for and use of space may change moving forward. This includes a discussion of working from home and the development of corporate culture. Phil also gets the chance to ask Mr. Walker about the decision to take the company public and the ramifications of that decision.

Willy Walker is chairman and chief executive officer of Walker & Dunlop. Under Mr. Walker’s leadership, Walker & Dunlop has grown from a small, family-owned business to become one of the largest commercial real estate finance companies in the United States. Walker & Dunlop is listed on the New York Stock Exchange and was #17 on Fortune’s 2017 list of “Fastest Growing Public Companies.” The company has also been named a Best Workplace for five of the past six years by the Great Place to Work® Institute. Mr. Walker received the Ernst & Young Entrepreneur of the Year award in 2011 and was named “Financier of the Year” in 2017 by Commercial Mortgage Observer.

Mr. Walker received his master’s degree in business administration from Harvard University and a bachelor’s degree from St. Lawrence University. He currently serves on the boards of Children's National Medical Center and the Mortgage Bankers Association, and he is a member of the Real Estate Roundtable. Mr. Walker is an avid runner, skier and cyclist, and has run the Boston Marathon in 2:36.

For more information, visit https://www.walkerdunlop.com/.

Raising Equity in a COVID-19 World with Jay Soave and Matthew Burskey of Cadence Capital Partners LLC

In this episode, host Phil Coover is joined by Jay Soave and Matthew Burskey of Cadence Capital Partners LLC and Jay Augustyn of Ice Miller LLP. The Cadence team shares its approach to raising equity and placing debt for sponsors and developers to facilitate their real estate projects. Cadence employs a proprietary data-driven scoring system that evaluates and weighs deal vitals, demographics, trends and risk probability for its sponsor clients and capital sources. The discussion includes an insider’s look at how COVID-19 has impacted the retail and hospitality sectors and investments in Opportunity Zones.

Jay Soave, Cadence Managing Principal

Jay Soave in a Managing Principal at Cadence and leads the Chicago office with responsibility for sourcing debt and equity for all asset classes nationwide, focusing on the Northeast, Midwest and Southeast. Jay has structured, negotiated and closed sophisticated transactions for 16 years, representing over $15 billion in gross value. Before joining Cadence, Jay worked in Tishman Speyer for nine years as a Managing Director in the Transactional Tax Group based in New York. Before Tishman Speyer, Jay worked as an attorney in the Chicago offices of Skadden, Arps, Slate, Meagher & Flom, Kirkland & Ellis, and Baker & McKenzie where he represented clients in mergers and acquisitions, private equity transactions, restructurings, and fund formation.

Matthew Burskey, Cadence Partner

Matthew Burskey is a Partner at Cadence and is responsible for the firm’s directional strategy and sourcing equity for all asset classes nationwide. Matt has established himself as an expert in the art of opportunity zone capital raises, yet his experiences spans all aspects of the capital raise spectrum.

Jay Augustyn is a Partner in Ice Miller’s Real Estate Practice. He represents clients in all manners of real estate transactions, including acquisitions and dispositions, financing, leasing and joint ventures. Jay also advises investors, developers and entrepreneurs in fund formation and investment matters with respect to the federal Opportunity Zone program and other federal, state and local programs to improve efficiency of project financing.

For more information, visit the Cadence Capital Partners website: https://cadencerec.com/.

Tenant Needs in a Post-Pandemic World with Christian Beaudoin, JLL Managing Director of Research and Strategy

In this episode, host Phil Coover is joined by JLL Managing Director of Research and Strategy Christian Beaudoin and Ice Miller partner Jay Augustyn. As we all know, COVID-19 has caused an abrupt shift in workplace operations, many of which may have a lasting impact on how we work. For example, as we return to the office, we can expect a hyper-focus on health, wellness and safety. Post COVID-19, tenants and landlords will be looking for space designs that offer greater privacy and separation from others, as well as opportunities to collaborate and concentrate. We can expect flexible work schedules and locations, and our workplaces will need to accommodate these flexible needs. The amenities we expect from our workplaces will be different in a post COVID-19 world.

Christian Beaudoin is a Director of Research and Strategy for JLL in the Americas. He manages a team of analysts and consultants covering market dynamics in office, industrial, multifamily, and retail properties. He is nationally recognized as a leader in site selection, and he drives industry-leading analysis on economics, real estate development, and market conditions. He has led several publications on cities and planning, and real estate strategy and trends.

Christian advises many of the world’s largest organizations across multiple industries—including banking, consumer products, high-tech and government—on real estate strategy and development. Most recently, Christian led site selection project for Toyota in its decision to move its corporate headquarters from California to Texas and to locate its next generation auto plant in Huntsville, Alabama. He currently serves as an Advisor to the Obama Foundation on the planning, design and development of the Obama Presidential Center. He has presented at ULI, CoreNet, IFMA and related real estate association events and authored published papers on real estate trends, innovation and strategy.

Learn more about Christian at www.joneslanglasalle.com.

Please review the JLL article on this topic at:  https://www.us.jll.com/en/trends-and-insights/research/2020-first-look-navigating-post-COVID-19

The Return to Work During COVID-19 with Antonia Cardone of Cushman & Wakefield

In this episode of Real Estate for Breakfast, Antonia Cardone, Americas Lead of Total Workplace for Cushman & Wakefield, joins Phil to discuss the return to work following the COVID-19 pandemic and stay-at-home restrictions. Cushman & Wakefield has helped numerous businesses return to work in China and across Asia, and Antonia brings that experience and knowledge to this discussion. Antonia and Phil discuss how businesses can prepare now to return to work in the future and think about what the future at work will be like and what we know now about people working from home. They discuss the “6 Feet Office” and other considerations as we go back to our offices, including maintaining social distance, minimizing touch points and managing any contamination. The return to work will be gradual and businesses can prepare the building, workforce and organization now for that transition. In the long run, technology will be key. The role of the office and how we create community and culture will change and evolve.

Antonia Cardone is Americas Lead of Total Workplace for Cushman & Wakefield. In this role, she supports clients and accounts challenged to create work environments that best support their people and business goals. Antonia’s specialties include innovative workplace strategies, activity based work settings, dynamic facilitation skills, sensitive change management, effective occupancy strategies and focused project management. She and her team serve clients by creating strategic plans to optimize space utilization; create dynamic, flexible work environments; and support change and future-ready spaces and portfolios. As well as providing stand-alone advisory services, the team has strong synergies with other services already available to Cushman & Wakefield clients, in particular, portfolio strategy, project management, brokerage and facilities management.

Visit cushmanwakefield.com for access to a range of online collateral including: podcasts, infographics, guides and articles.

COVID-19 Stimulus and Relief Packages with Brian Crist and Josh Christie of Ice Miller LLP

In this episode of Real Estate for Breakfast, Phil is joined by two of his Ice Miller colleagues: partner Brian Crist and partner Josh Christie. Phil, Brian and Josh discuss the ongoing economic impact of COVID-19 across a variety of sectors and the hot topics surrounding stimulus and relief packages. They also discuss legislation and federal stimulus packages including: the Economic Injury Disaster Loan program, the Paycheck Protection Program, the Economic Stabilization program, the Main Street Lending Program, the Fannie-Freddie Mortgage Forbearance Program and other available programs. In addition, they discuss what landlords and tenants are doing in the current situation. The impact of various state and federal orders to suspend or stay rent and tax collections, evictions and mortgage payments is also explored.

The purpose of this podcast is try to wrap our arms around the various stimulus and legislative packages at play, provide some practical tips and guidance from practitioners who are living this on a daily basis and see how businesses are responding at this current time.

Brian Crist is a partner at Ice Miller and concentrates his practice in business, real estate, environmental, public/private partnership and privatization law. He represents and counsels clients on all aspects of the acquisition, disposition, redevelopment, leasing and financing of commercial real estate assets across the country.

Brian has provided counsel to an international real estate development company on numerous transactions related to its Shari'ah compliant real estate investment funds, including serving as lead counsel with respect to a $100 million acquisition of leasehold interests in two office parks in Boca Raton, Florida in a multi-tiered ground lease structure owned by several municipal entities. He has also represented publicly-traded real estate investments trusts and privately held developers over a sustained period of time with respect to the development, acquisition, sale and financing of single property and portfolio transactions throughout the country.

Brian also has provided counsel with respect to properties with environmental problems commonly called "brownfield redevelopment projects." His legal practice also includes extensive experience in advising clients with respect to public/private partnerships and public infrastructure transactions.

Learn more about Brian Crist: https://www.icemiller.com/people/brian-c-crist/.

Joshua Christie is a partner in the Firm's Business Group. Josh primarily focuses his practice on mergers and acquisitions, corporate transactions, commercial agreements, general corporate matters and financing transactions including commercial lending transactions. Josh's practice also includes advising clients, including governmental entities, municipalities, bidders and developers, in public-private partnerships. His P3 experience involves a number of jurisdictions, projects and industries.

Josh has assisted clients in the analysis, negotiation, documentation and consummation of a variety of transactions, including the acquisition and sale of assets and equity, equity issuances, financing and re-financing, mergers and joint venture formations. Josh also has experience representing borrowers, lenders and investors in financing transactions. He has assisted entrepreneurs in entity formation and other legal matters related to starting new businesses.

Josh also assists clients in the preparation, drafting and negotiation of commercial agreements, including the sale, purchase, supply, distribution and manufacture of products and services. His experience in this area also has touched a number of areas, including the manufacturing, distribution, logistics, chemical, life sciences, food products and consulting industries.

In addition, Josh helps clients navigate and make informed decisions with regard to general corporate matters, including entity formation, the sale and issuance of securities, advising boards of directors and other corporate governance issues, including fiduciary duties of directors and officers and corporate policies and procedures.

Learn more about Josh Christie: https://www.icemiller.com/people/joshua-l-christie/.

COVID-19 and the Impact on Commercial Real Estate Market with Spencer Levy, Chairman of Americas Research for CBRE and Senior Economic Advisor for CBRE

In this emergency episode of Real Estate for Breakfast, Phil has Spencer Levy, Chairman of Americas Research and Senior Economic Advisor for CBRE, to discuss the imminent recession and COVID-19’s impact on the commercial real estate markets. In the past week, entire cities (San Francisco), bars and restaurants have been shut down across the country, retail companies have voluntarily shuttered (Apple, Nike, Abercrombie and Fitch, etc.), airlines have reduced flights by 40% or more, unemployment is expected to rise, and consumer demand has fallen off a cliff. Spencer comes in to discuss how this will play out on a macroeconomic level, and more specifically, what will happen to the hospitality markets, retail markets, housing markets, senior housing markets, and more. Furthermore, if hospitality and restaurants fail and vacancies rise, will there be a ripple of loan defaults and foreclosures? Spencer also gives us a unique insight on deal flow, the debt and capital markets, and summarizes the COVID-19 impact on commercial real estate.

Spencer Levy is Chairman of Americas Research for CBRE and Senior Economic Advisor for CBRE. He plays an integral role in the development and implementation of the global research strategy and business plan. A CBRE veteran of more than 10 years, Spencer had previously served as Executive Managing Director in the company’s Capital Markets division.

Mr. Levy oversees the analytical activities of the CBRE research community within the Americas region and is responsible for the management of hundreds of professionals who are focused on producing market-leading insight and interpretative analysis on the latest real estate trends. Mr. Levy supports CBRE executives in their decision-making by providing insight into the impact of market trends related to strategic business planning, and analyst call preparation. He serves as principal external spokesperson on real estate issues in the Americas region and has considerable media experience, providing market commentary for many national television, newspaper and internet outlets.

Mr. Levy joined CBRE in 2007 to lead the U.S. Eastern Division of the Capital Markets platform. Since then, he has assumed positions of increasing responsibility. As a part of senior management for the Capital Markets platform, Mr. Levy provided leadership for several areas in the United States and Latin America. Mr. Levy provided additional oversight of Retail, Auction and Investment Banking in the United States. He also directly serves a number of major clients.

Learn more at: http://www.cbre.us/people-and-offices/spencer-levy

Washington Post Article on Impending Recession: https://www.washingtonpost.com/business/2020/03/14/recession-economy-coronavirus-jobs/

Building the Capital Stack with Trisha Connolly, Managing Director of Alpha Capital CRE

On this episode, Alpha Capital CRE Managing Director Trisha Connolly joins Phil to discuss building the capital stacks, money, and the various types of financing and equity investments available. Alpha Capital CRE started in 2008 as a hedge fund placement agent firm raising institutional capital for fund to funds. In 2010, Alpha Capital transitioned to a capital markets platform. Since its inception, the company has changed its name, institutionalized its platform, and grown its team. They optimize solutions for capital, whether it’s debt or equity, for transactions across the country.

Phil and Trisha start by discussing what goes into a capital stack. They touch on what a bridge lender may provide in commercial real estate, why the 30-year mortgage is often an afterthought in this space, and the types of debt with flexibility in a future sale. Phil also asks Trisha about the influence of local banks in her work, as well as her depth of relationships in the national lending community. Phil and Trisha close out the interview by going into the details of creating a development deal, subordinate financing, and the concept of preferred equity.

Trisha Connolly is a Managing Director at Alpha Capital CRE and serves as a partner on the equity and debt placement team nationwide. She specializes in commercial real estate financing with over 11 years of experience including loan restructuring, term financing, syndicated credit facilitating, construction financing, acquisition financing, advisory and joint venture equity or programmatic equity. She has advised on capital markets financing transactions exceeding $2 billion. Trisha specializes in structured financings and continues to work on permanent and floating rate executions. Prior to joining Alpha, Trisha spent four years managing Cushman and Wakefield's Equity, Debt & Structured Finance team. Preceding C&W, Trisha spent more than five years at General Growth Properties (GGP) within their Capital Markets team, focusing primarily on workouts, refinances and development financing.

Learn more at:  www.alphacapitalcre.com

Camille Renshaw of B+E – How Using Modern Technology in Net Leasing is Changing the Game for Investors

In this episode, Phil is joined by Camille Renshaw, CEO and Co-Founder of B+E Net Lease Brokerage.  B+E helps to trade single tenant triple net leased properties with confidence by implementing technology and bringing the real property and tenant financials to one place.  B+E investors are able to make those important connections to properties across the country through an online platform.  Camille and Phil dive deeper into net leasing: a real estate sub-genre where a single tenant such as Walgreens, for example, pays rent but also takes care of real estate taxes, property insurance and maintenance for the property.  Net leasing is intriguing for investors because they want to invest their money in a single property where essentially all they will need to do is sit back, and collect rent.  Camille compares the net leasing process to that of the stock world – it’s based on relationships with firms and people who are able to help you make an investment.  Camille and Phil continue to  discuss the ease of net leasing, why it’s gaining popularity among investors, and how technology is playing a crucial role in its success. 

Camille Renshaw is CEO and Co-founder of B+E. She was previously Head of Sales and a member of the CRE Board for Ten-X, a Google Capital company. Ten-X is the leading online marketplace for real estate and includes products like Auction.com. Prior to Ten-X, she founded the Stan Johnson Company’s New York office where she led their sales team as its top producer for 5 years; in the mid 2000s, she was Director of the US Capital Markets division of Colliers International and a Top 40 Worldwide Producer. She has closed over $25B in transaction volume. Renshaw originally entered commercial real estate as an owner, after founding Dyzco Technologies and successfully selling it to American Financial Services Corp, Inc. Renshaw has established herself as an industry leader, making frequent speaking appearances, authoring articles and being quoted extensively by a number of leading publications, including Wired, The NewYorker, WSJ, and GlobeSt.com. She was recognized as a “Woman of Influence” by Real Estate Forum, and named one of “NYC’s 15 Women to Watch in Real Estate” by Sokol Media. In 2018, she was named one of the “Best Bosses in CRE” by Real Estate Forum and nicknamed “The Cataylst.” She is currently an Executive in Residence at NYU Stern School of Business, and an Advisory Board Member for Rutgers University’s Big Data Program. She also serves as Advisor to DreamIt’s UrbanTech Accelerator. Renshaw holds real estate broker licenses in New York, Florida, and Connecticut.

Visit B+E’s website here.

Dee Brown, CEO of the P3 Group, Inc. – Changing 60,000 Pound Anchors on Nuclear Submarines – and Other Public-Private Partnership Development

Phil is joined in this episode by Dee Brown, CEO of The P3 Group, Inc., a commercial real estate, boutique development and consulting firm that specializes in business and community development through the creation of P3's: public private partnerships.  Dee explains that The P3 Group’s projects are atypical, meaning that they generally take on modestly sized building projects, which most P3 companies shy away from—due to the complexity of the deals and efforts needed to coordinate these types of municipal projects.  For instance, Dee’s first public private project was changing 60,000 pound anchors on a nuclear submarine. 

Phil and Dee discuss the benefits of a company like The P3 Group, with its multi-faceted background of team members that include legal, real estate and construction experts.  Dee goes on to discuss an exciting project that The P3 Group recently received an award for – an 80,000 sq. ft. regional public safety facility for police, EMS, and other governmental emergency responders.  It will be designed to withstand extreme inclement weather, no-power, and no water!  Tune in to learn more.

Dee Brown

As Chief Executive Officer Dee Brown has a 26 year record of real estate sales, development, management, and  success overseeing all phases of  multi-million dollar construction, infrastructure, water/sewer, and  environmental projects for government and private-sector clients. His experience includes managing personnel of up to 200 people in highway/bridge improvements, asbestos abatement, real estate sales and development, solar installations, and a variety of other projects. Dee is backed by strong credentials and a proven history of on-time, on-budget, and high-quality project completions.

Learn more about the P3 Group here:  https://thep3groupinc.com