stanford professionals in real estate 2016 ......spire and was initiated by buzz mccoy (’58), a...

2016 AnnuAl report

STANFORD PROFESSIONALSIN REAL ESTATE

Elizabeth Youngblood (’91)SPIRE Executive Director

2016 was my first full year as executive director of SPIRE and a great deal was accomplished. Programmatically, it was the organization’s most productive ever. Most importantly, I’m proud of the growth in SPIRE’s outreach to students and faculty. One of the core tenets of SPIRE’s mission is student and faculty outreach. We made great progress in this regard in 2016. Additionally, SPIRE operated in a fiscally successful manner, helping insure its long-term viability and its ability to implement its mission. All this energy is a mirror of the energy of the Stanford real estate community at large.

Patrick Tooley (MBA ’98)SPIRE Interim Chairman

David Butler (’96)SPIRE President

SPIRE transitioned its board and staff leadership, moving from Southern California to downtown Palo Alto in 2016. Even with those transitions, 2016 was possibly the most successful year in SPIRE’s history. We made great strides on campus: we created a student and faculty grant application process to support important research, we offered students complimentary SPIRE memberships, and our campus student club, ASPIRE, launched and quickly amassed over 200 student members and sponsored eight events. We hosted the greatest number of alumni events for a record number of alumni, our membership swelled by 300 and membership in the Stanford Real Estate Council (SREC) is full, with a wait list of those wishing to join. SPIRE continues to thrive and add value to the entire Stanford community within real estate, place making and the built environment.

letterS FroM SpIre’S leADerSHIpStAnForD proFeSSIonAlS In reAl eStAte (SpIre)

Alumni Networking and Education

Student Outreach

Educational Program Development

SPIRE provides a platform for alumni to connect with one another in professional and social settings, and across disciplines and geographies, thereby fostering relationships and strategic partnerships.

SPIRE connects current students and recent graduates with Stanford alumni engaged in real estate–related careers, providing opportunities for mentorships, internships and career shadow programs.

SPIRE is engaged with Stanford University faculty and administrators to promote and implement a multidisciplinary real estate program producing world-class research and graduates.

SPIRE empowers the Stanford real estate community to innovate within real estate, place making and the built environment.

In 2009, a group of Stanford alumni recognized the opportunity to connect alumni, students, educators and staff to facilitate the sharing of real estate knowledge, ideas and best practices. They founded Stanford Professionals in Real Estate (SPIRE).

Today SPIRE is the only real estate–related alumni club within the Stanford network, boasting a membership of more than 2,000 Stanford alumni, faculty and students. While SPIRE is an official alumni club of Stanford University, it is also an independent not-for-profit entity. SPIRE is uniquely focused on supporting alumni professionals in the real estate industry, affording opportunities and exposure to current students, and encouraging Stanford University to develop a robust multi-disciplinary real estate education and research program.

SPIRE’s history of innovation and commitment to facilitating new and creative opportunities to connect the Stanford community of alumni, students, educators and staff ensures that SPIRE will continue to embrace the sharing of real estate knowledge, ideas, and practices for years to come.

SPIRE’s Three Pillars

SPIRE was founded upon three core pillars which represent the foundation of the organization, the focus of the Stanford real estate community, and the value SPIRE strives to provide its members and partners.

SPIRE “has become not only the most amazing club in the entire portfolio of 200+ Stanford has all over the globe” and has the largest membership but is also the “most active club in the history of Stanford University.”Howard Wolf (’80)Vice President, Alumni Affairs | President, Stanford Alumni Association

In MeMorIaMLou Cohen (’78)Chairman, SPIRE Board of Directors

Lou played an instrumental role in building SPIRE and was a natural leader, assuming the role of chairman of the board in early 2016. He had been involved actively in the Stanford Real Estate Council (SREC) since its formation. Lou was a wonderful human being, possessed a sharp legal mind and was a good friend. He will be missed.

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SPIre MeMberShIP

The 2,300 SPIRE members represent diverse areas of the Stanford community, including alumni and students who are involved in multiple facets of the real estate industry. SPIRE members live and work in 34 states and 22 countries, and represent each of Stanford’s academic schools, both with undergraduate and graduate degrees. Demographics parallel that of the entire Stanford alumni community, spanning graduation dates as far back as the 1940’s and as recent as 2010’s.

SPIRE members benefit from access to the resources, activities and professionals that make up the vibrant Stanford real estate community.

SPIRE members have elite access to the Stanford real estate community through a variety of avenues: the membership directory, the SPIRE job board, advance access to student resume books for an edge on hiring Stanford students, regional events and more.

Over the seven years of its existence, SPIRE membership and programs have grown exponentially. SPIRE activities include:

§ Serving 2,300 Stanford alumni, faculty and students across the United States § Hosting 20 annual events in six regions § Inducting two individuals annually into the Stanford Real Estate Hall of Fame § Sponsoring the Real Estate and Law (REAL) Symposium on Stanford’s campus each year § Collecting 100 of Stanford’s leaders in the real estate community – known collectively as the

Stanford Real Estate Council – for an annual three-day conference, as well as other activities § Supporting current Stanford students by:

• Hosting an alumni mentor-mentee program• Circulating to SPIRE members the resumes of current Stanford students interested in working

in real estate, place making or the built environment• Partnering with the Stanford student team participating in the NAIOP “Golden Shovel” competition

SPIRE has conducted all its programs with revenues from its membership. But SPIRE is poised to do more. Lots more. And we’re looking for partners to help us do just that.

With this in mind, SPIRE launched its corporate partnership program in the spring of 2017. And we’ve made great success. We are pleased to bring a new Core partner aboard – AEI Consultants. SPIRE continues to thank its founding core sponsor, Allen Matkins. We invite corporate partners to join SPIRE in its efforts.

With more than 2,300 Stanford alumni, faculty and student members, corporate partnership with SPIRE provides an opportunity to gain access to this elite group of Stanford alumni professionals working in real estate. SPIRE welcomes corporate partners who recognize the value of affiliating with SPIRE, its mission and its membership. You will find more information on SPIRE’s Core and Pillar partner levels on the SPIRE website.

CorporAte pArtnerSHIp

50 100 2000

Real Estate Technology

Property Management

Legal

Fund Management & Investment

Finance

Developer/Operator

Corporate Real Estate Services

Consultant

Construction & Engineering

Brokerage

Asset Management

Architecture, Planning & Design

Acquisitions

2010

8001000

1500

2000

2012 2014 2016

12001600

2000+SPIRE’S MEMBERSHIP GROWTH

150

800

1200

1600

20002000

1500

1000

2010 2012 2014 2016

SPIre MeMberS by reGIon35% Northern California

33% Southern California

10% New York

4% Chicago

4% DC

4% Midwest

3% Pacific NW

3% International

2% Southwest

1% South

1% Other

35% Northern California


10% New York

4% Chicago

4% DC

4% Midwest

3% Pacific NW

3% International

2% Southwest

1% South

1% Other



10% New York

4% Chicago

4% DC

4% Midwest

3% Pacific NW

3% International

2% Southwest

1% South

1% Other



10% New York

4% Chicago

4% DC

4% Midwest

3% Pacific NW

3% International

2% Southwest

1% South

1% Other

50 100 2000

Real Estate Technology

Property Management

Legal

Fund Management & Investment

Finance

Developer/Operator

Corporate Real Estate Services

Consultant

Construction & Engineering

Brokerage

Asset Management

Architecture, Planning & Design

Acquisitions

2010

8001000

1500

2000

2012 2014 2016

12001600

2000+SPIRE’S MEMBERSHIP GROWTH

150

800

1200

1600

20002000

1500

1000

2010 2012 2014 2016

SPIre MeMberShIP Growth

SPIre MeMberS

by InduStry

In aPPrecIatIon of ServIce to SPIreChad Hagle (’98)CEO, Aventine Development Co | Co-Founder, SPIRE

Chad co-founded SPIRE and served as President of SPIRE for many years until concluding his term at the end of 2016. Chad remains an active and engaged member of the SPIRE Board of Directors. His service to the organization has been invaluable.

“Your vision was absolutely superb. Your tenacity in making (SPIRE) come into being was truly unparalleled. And the impact that you have had through this organization is truly immeasurable.”

Howard Wolf (’80)Vice President, Alumni Affairs | President, Stanford Alumni Association


2016 Global Cities in an Era of Change Symposium

SPIRE was proud to co-sponsor the 2016 Global Cities in an Era of Change Symposium held at Stanford University from March 30 to April 1.The symposium sponsors included the Counselors of Real Estate (CRE) and the Royal Institute of Chartered Surveyors (RICS). This conference was the largest and most complex conference ever sponsored by SPIRE and was initiated by Buzz McCoy (’58), a 2013 inductee into the Stanford Real Estate Hall of Fame.

The three-day conference focused on challenges presented by the growing shift of populations to urban areas, and how cities, large and small, must effectively plan, adjust and innovate to build living environments that meet expectations of diverse populations. The 200 attendees toured major development projects in the Bay Area before spending a day with speakers and panels including Chip Conley (’82, MBA ’84), SPIRE board of governors member and founder of Joie de Vivre; Sam Zell, chairman of Equity Investments Group; and Colin Shepherd, CEO of investment management in Hines’ Office of Investments.

Stanford students spent months in the run-up to the symposium competing in the Urban Innovation Challenge. These student teams were tasked with developing creative approaches to the challenges of urban living of the future - creating environments where citizens not only successfully co-exist, but thrive. On the last day of the conference, the winning teams were awarded grants, with the top team garnering the first Buzz McCoy Innovation in the Urban Environment Award.

AluMnI networkIng & eDuCAtIon

SeattleSPIRE returned to Seattle with a small group dinner in the spring. GSB classmates Leshya Wig (MBA ’10) and Jahan Moslehi (MBA ’10) shared their unique insights and perspectives of operating real estate firms investing in the Pacific Northwest.

Southern calIfornIaSPIRE began its 2016 regional events at THE BLOC in downtown Los Angeles. Hosted by the executive leadership of the project’s developer, The Ratkovich Company, members learned about the opportunities and challenges encountered in redeveloping the hotel, office, retail and parking components, while still keeping these areas operating during the construction process.

Los Angeles members had the opportunity to tour two more notable projects in 2016. Tishman Speyer’s Playa Vista development in the Brickyard was our event venue in the spring, and Carmel Partner’s new development, Eighth & Grand, was toured in the fall. Both of these tours provided members the opportunity to experience the transformations taking place in and around the Los Angeles market.

regIonAl eventS SPIRE hosted 19 regional alumni events with over 500 members in attendance - a record high.


northern calIfornIaNorthern California members toured 400 Grove and 450 Hayes in the Hayes Valley neighborhood of San Francisco with SREC member Mark MacDonald (’93, MBA ’07) of DM Development. David Lenox, university architect and executive director of campus planning and design, provided members and students a historical view of the campus as well as plans for the future of Stanford’s nearly 1,900-acre campus.

In the fall, members heard from Stanford Entrepreneur in Residence, James Ehrlich, about RegenVillages, a company whose origins dovetail with Stanford research. James and his team are currently working on a pilot development of 25 homes in Almere, Netherlands, with the goal to integrate local energy production, intensive food production methods and “closed-loop” waste-to-resource systems, along with intelligent water and energy management systems to create a neighborhood that powers and feeds itself.

chIcaGoSPIRE members in Chicago experienced two unique events in 2016. Members toured the restored Chicago Athletic Association hotel located on Michigan Avenue with Jasin Alfaro (’98), whose firm AJ Capital Partners is a partner in the redevelopment of the hotel. Later in the year, Gregg Garmisa (’80), SPIRE member and principal and general counsel at Studio Gang, brought members inside Jeanne Gang’s firm, an architecture and urbanism collective. Jeanne Gang is an internationally renowned architect and MacArthur fellow. Members heard about recent projects and had the opportunity to see models and ask questions of Jeanne, Greg and the Studio Gang team.

waShInGton dcThe Washington DC region’s first event in 2016 was a small group dinner with Ryan Frederick (MBA ’05), founder & CEO of Smart Living 360, a real estate development and operating company focused on creating innovative living experiences that enhance well-being. Ryan shared the story behind the concept of Smart Living 360; facts about the first community, The Stories at Congressional Plaza in Rockville, Maryland; and how being a Stanford graduate provided the opportunity for Ryan to create a career out of a personal passion.

In the fall, members gathered in Georgetown for a happy hour to connect with one another about their current areas of focus and industry activity.

new yorkSPIRE’s events in New York City included a tour of the recently renovated New York Historical Society as well as The Beekman Hotel and Residences. Members also toured Hudson Yards, the largest private real estate development in the history of the United States and the largest development in New York City since Rockefeller Center.

A small group dinner with SREC member Mike Lowe (’91, MBA ’97), co-CEO of Lowe Enterprises, and Marcello Porcelli (MBA ’97), chief executive officer at LargaVista Companies, focused on family-operated real estate businesses. Over the course of the evening members heard about their experiences working and running dynamic real estate firms, as well as current development projects and the intersection of hospitality and residential as both firms operate in both parts of the industry.

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Rebirth of ASPIRE

SPIRE’s student group on campus – the Association of Students Promoting Innovation in Real Estate (ASPIRE) – relaunched in winter quarter under the apt and energetic leadership of Jason Lopata (’17) after having been dormant for several years. Previously, real estate groups existed within the civil engineering and business programs, but there were few opportunities for students of a diverse array of disciplinary backgrounds to meet

and share perspectives on the industry. ASPIRE seeks to bridge that gap by providing educational programming through on-campus speakers and workshops, experiential learning through off-campus site visits, and professional development through networking events for students and alumni. More broadly, ASPIRE aims to serve as a forum for current Stanford students across all departments and degree programs who have an interest in real estate, land use, and the built environment. Over time, ASPIRE’s leadership hopes that the activity of the organization will encourage greater student interest in the industries related to its mission, and that the interaction of its student members will help to shape a robust network that will be an active part of the alumni community in years to come.

SPIRE Student Team Competes in New York

One of SPIRE’s primary goals is to support Stanford students in exposing themselves to the fields of real estate, place making and the built environment. With SPIRE’s assistance, Stanford sent, for the first time, a student team to compete in the 8th Annual Cornell International Real Estate Case Competition in New York in November. A team of five enterprising undergraduate students pushed themselves to compete in an intensive five-day undertaking, culminating in a full day of presentations.

on CAMpuS – StuDentSSPIRE continues its efforts to expose Stanford students to real estate, place making and the built environment.

The mentor-mentee program continued in its next iteration with 35 pairs of mentors and students meeting regularly over a period of five months. A highlight was a lunch in San Francisco hosted by two alumni mentors for a host of current students.

Students joined SPIRE as guests at the 5th Annual Real Estate and Law (REAL) Symposium, the Global Cities in an Era of Change Symposium, the Stanford Real Estate Hall of Fame banquet on campus, as well as at the Stanford Real Estate Council conference.

Students submitted their resumes to SPIRE which then distributed the resumes to all SPIRE members in both the fall and the spring.

NAIOP/Golden Shovel

SPIRE once again sponsored the Stanford student team competing against Cal in the 27th Annual NAIOP San Francisco’s Real Estate Challenge, also known as the Golden Shovel. The Cardstone Group team clinched the win by proposing the concept of an innovative makerspace remake for Prologis’ 245 South Spruce Street building in South San Francisco. SPIRE members have also been stalwart supporters —

the Stanford coach was Drew Hudacek (MS ’99); Lauren Pressman (’95, MBA ’01) and Lauren Young (MBA ’03) were also highly involved with the entire competition. SREC member Cathy Greenwold (MSM ’99) was one of the judges in 2016.

“I first approached SPIRE as a civil engineering student with a limited understanding of the real estate industry. Little did I know the incredible opportunities that SPIRE would expose me to. Through its amazing network of successful professionals, I was able to spend a summer working in multi-family real estate development in San Francisco, as well as find mentors who are currently guiding me and helping me achieve my career ambitions in real estate.”Arnaud Dusser (MS ’17)


on CAMpuS – unIverSIty relAtIonSUniversity Relations

The Board of Directors Committee on University Relations made great progress in 2016 with regard to connecting with each of the key faculty members teaching real estate–related courses across campus. SPIRE is investigating ways to best support these faculty, whether by funding their courses, facilitating alumni involvement, or other means.

Faculty Grants

SPIRE underwrote Urban Studies 168: Housing & Community Development, the only course at Stanford that focuses specifically on housing as an issue in the United States.

DrIvIng InnovAtIonStudent Research Grant

SPIRE worked to further innovative research taking place on campus by underwriting the research of PhD candidate Daniel Hall (MS ’15, PhD candidate), a student in the School of Engineering’s Sustainable Design and Construction program. Daniel noted that the grant allowed him to expand his research and data gathering to additional geographies. He said, “Thank you SPIRE for your help in advancing quality research in the built environment” by allowing the expansion of his research into alternative contracting environments in complex building and infrastructure projects.

inSPIRE

inSPIRE is an on-campus initiative of students, alumni and faculty with a mission to facilitate real estate innovation in the Stanford ecosystem. After a successful launch event in spring 2015, inSPIRE selected four student teams, which created business plans to innovate in the real estate ecosystem. inSPIRE mentors supported and provided resources to fuel the further development of the teams’ business ideas. Resources included alumni expertise, connections for office space and industry data, facilitating meetings with angel investors and industry, and more. Then again in spring 2016, inSPIRE collected another group of students who brainstormed solutions to challenges faced in real estate, place making and the built environment. These groups formed into teams, each of which formulated an early prototype of a business that could alleviate whichever challenge they’d chosen. SPIRE brought alumni representatives to the meetings to help the students reflect upon, and iterate upon, their fledging ideas.

Buzz McCoy Innovation in the Urban Environment Award

Buzz McCoy (’58), Stanford Real Estate Hall of Fame inductee, supported further innovation on campus through his support of the Human Cities Urban Innovation Challenge. The challenge was designed to tap into Stanford students’ creative potential to address critical social challenges.

Student teams submitted proposals, which were then judged by a panel of esteemed real estate professionals and alumni. Stanford students have proven to be great engineers, entrepreneurs, and technologists; when they engage with the world, they can also strive to be kind neighbors, active citizens, and thoughtful designers. By focusing innovation on urban-centered social, infrastructure, and policy questions, the Stanford students were supporting the ongoing global effort to imagine and remake cities into more human-friendly places to live, work, play — and to celebrate our common urban future.

“We are grateful for any support, and for the opportunity to collaborate with SPIRE. Please express my gratitude to the board members for their enthusiasm... We really appreciate SPIRE’s support and collaboration in helping the Urban Studies Program to offer this course.”

Michael B. Kahan, Ph.D.Associate Director and Senior LecturerProgram on Urban Studies


StAnForD reAl eStAte HAll oF FAMeGiven the illustrious history of Stanford alumni in the real estate industry, SPIRE sought to find a meaningful and lasting way to honor Stanford alumni industry luminaries and pioneers. The SPIRE Board of Directors established the Stanford Real Estate Hall of Fame to honor the legacy of the university and its alumni working in real estate.

Candidates for the Stanford Real Estate Hall of Fame include those alumni who have had a sustained, positive impact in real estate over multiple generations; are recognized as industry icons; have demonstrated a commitment to Stanford; are innovators within their field; dedicate themselves to the development of younger professionals; and aid in the development of a healthy global community.

2016 Inductees

Bob Burke (’64, JD ’67)

Bob is a co-founder of AMB Property Corporation (predecessor to Prologis), IHP Capital Partners, and Metropolitan Real Estate Equity Management. At Stanford, Bob has served on the Board of Trustees, the Board of Overseers of the Law School, the Board of the Stanford Management Company, the Board of Governors of the Stanford Associates and many other boards. Bob was the lead negotiator for the acquisition of the Mission Bay campus, and has served on the boards of the UCSF Foundation and the UCSF Foundation Real Estate Investment Company.

Samuel K. Freshman (’54, JD ’56)

Sam is the founder of the real estate investment and management firm Standard Management Company. Standard has acquired, managed and financed over a billion dollars of real estate. Sam is an expert in real estate syndication and a general partner in over 100 real estate projects. He has secured, negotiated and documented more than $500 million of real estate loans as a lender, borrower, attorney, banker and property manager. Sam was chairman of SPIRE since its founding through spring 2016.

Tad Taube (’53, MS ’57)Founder and Chairman | Woodmont Companies

Bob Lowe (MBA ’64)Founder and Chairman | Lowe Enterprises

Peter Bedford (’60)Owner | Bedford Investments

Fred Allen (’61)Founder and Senior Partner | Allen Matkins Leck Gamble Mallory & Natsis

James Buie (MBA ’80)CEO, West Region, Hines

CEO of the West & Asia Pacific Regions for Hines, Jim has been responsible for the development, acquisition, and/or management of over 100 million square feet of commercial real estate in 50 cities representing over $23 billion in value.

Daniel Neidich (MBA ’74)CEO, Dune Real Estate Partners

Founder and chief executive officer of Dune Real Estate Partners LP, a real estate private equity fund manager with $4.3 billion of assets under management, Dan formerly was a partner at Goldman Sachs where he created The Whitehall Funds and was a member of Goldman Sachs’ Management Committee.

2015

2014

Bill Tooley (’56)Co-Founder and Chairman | Tooley & Company Investment Builders

Bowen “Buzz” McCoy (’58)Former General Partner | Morgan Stanley

Malin Burnham (’49)Vice Chairman | Cushman & Wakefield

William Wilson III (’58)Founder | William Wilson & Associates, Co-Founder | Webcor Builders and Wilson Meany Sullivan

Don Koll (’55)Founder | The Koll Company

2013

2012

Henry Segerstrom (’46, MBA ’48)Managing Partner | C.J. Segerstrom and Sons

2011

2017 InducteeS

2017 Stanford real estate hall of fame

October 10New York

November 17Stanford University


Hector Calderon (’01) Managing Director, Encore Capital ManagementBob Larson (’73, MBA ’75) Founder and CEO, Acacia Capital CorporationCharles Young (’90, MBA ’03) COO, Starwood HomesRichard Cisakowski (MBA ’88) Managing Executive, NMC Consortium

The US Economy and the Election 2016 Keith Hennessey (’90) Lecturer, Stanford Graduate School of Business

Is Data the New Gold Rush? Brendan Wallace (MBA ’10) Co-Founder, Fifth WallChris McDougal, Sr. Manager, Enterprise Information Management, Colliers

InternationalScott Ingraham, Owner, Zuma Capital; Founder, Rent.comJustin Alanis, Co-Founder and CEO, Rentlytics

Inside-Out Founder Stories: Real Estate Technology Kyle Ladewig (’08) Commercial Division Strategy, Ten-XBrendan Wallace (MBA ’10) Co-Founder, Fifth WallJason Forcier (’09) Founder, RealstaxJosh Stech (’08, MA ’09) Founding Partner, Lending HomeBrad Greiwe, Co-Founder and Managing Partner, Fifth Wall

Student Outreach: NAIOP’s Golden Shovel CompetitionTravis Duncan (MS ’15, MBA ’17), SPIRE Board Member and Golden Shovel Team Member 2016

University Outreach: The Future of Real Estate Curriculum on CampusMichael D. Lepech, PhD, Assistant Professor of Civil and Environmental Engineering

Day 3

Celebration

Stanford’s 125th: Daniel Hartwig, Stanford University Archivist, Green Library

Tailgate: Chuck Taylor Grove, Stanford vs. Oregon State football

In its sixth year, the SREC once again delivered on its objective to provide a platform for unparalleled networking, interaction and thought leadership for alumni at the highest level of the real estate industry.

CEOs, owners, founders and managing directors of leading global real estate organizations bring a level of unparalleled vision and knowledge to SPIRE. That’s why, in 2011, SPIRE formed the Stanford Real Estate Council (SREC), a unique forum offering innovative and thought-provoking discourse for 100 Stanford alumni leaders operating in the highest echelons of the real estate industry. Collectively, SREC members have developed, own or manage nearly $1 trillion in assets. By offering best-in-class real estate programs, networking events, and professional development, the SREC engages industry luminaries and pioneers within the Stanford real estate alumni and faculty communities.

StAnForD reAl eStAte CounCIl (SreC)

Owners

Founders

CEOs

Managing Directors

November 4–6, Stanford University

The 6th annual SREC Conference represented the largest assembly of SREC members and most diverse programming yet. Over 80 senior executives in the industry heard from professors and leading industry experts while engaging in substantive conversation with their colleagues. This year’s conference was held on November 5 at Paul Brest Hall at Stanford Law School. The program focused on core real estate industry topics, macro-economics and the upcoming federal election.

Day 1

Development Tours - Google and NVIDIA Campuses

Welcome Dinner - Hosted by Mark Oldman (’91, MA ’93, JD ’98), one of the country’s leading wine personalities.

Day 2

The Conference

Capital Markets and Foreign Capital Flows Ron Sturzenegger (’82) Enterprise & Community Business Engagement Executive, Bank of AmericaDan Neidich (MBA ’74) CEO, Dune Real Estate PartnersSusan Meaney (’82) Managing Director, Makena Capital ManagementAndy Richard (’91) Managing Director, Credit SuisseLili Wang (’03, MS ’03) Founder, New City Group

Views on the Housing Market John Burns (’85) Founder, John Burns Real Estate Consulting

2016 SreC ConFerenCe


StAnForD reAl eStAte CounCIl (SreC) MeMberSFred Allen (’61) | Allen Matkins Leck Gamble Mallory &

NatsisDon Ankeny (MBA ’83) | Westcore PropertiesLoryn Dunn Arkow (JD ’95) | Stroock & Stroock & Lavan LLPSean Arnold (MBA ’03) | Crosstree Real Estate Partners LLPJohn Atwater (MBA ’87) | Prime GroupJim Baer (’72, JD/MBA ’78) | Premier PropertiesDavid Balducci (MBA ’05) | Align Real EstateHenry Bandet (’85) | HG CapitalRyan Barnes (’97) | American Infrastructure MLP FundsGary Beasley (MBA ’93) | Roofstock, Inc.Mike Biggar (’81, MBA ’94) | Orchard Partners, LLCCraig Blanchard (MBA ’02) | Makena Capital

ManagementAni Vartanian Boladian (’97) | Rubicon Point PartnersSusan Booth (’86) | Holland & KnightJulia Boyd Corso (MBA ’05) | Interstate Equities

Corporation (IEC)Wayne Brandt (’84) | Wells FargoJim Buie (MBA ’80) | HinesMark Burger (’80) | Pacific Development Partners, LLCMalin Burnham (’49) | Cushman & WakefieldJohn Burns (’85) | John Burns Real Estate ConsultingDavid Butler (’96) | Argosy Real Estate PartnersHector Calderon (’01) | Encore Capital ManagementDon Casto (’66, JD ’69) | CASTORichard Cisakowski (MBA ’88) | RCCD, Inc.Alfred Clark (’76) | Locke Lord LLPJoshua Dapice (’98) | Farallon Capital Management LLCMarisa Deutsch (’97) | Rockwood CapitalSteve Dostart (MBA ’90) | Dostart Development

Company, LLCDean Egerter (’83) | Harrison Street Real Estate Capital,

LLC

S. Osborn “Oz” Erickson (MBA ’75) | Emerald Fund, Inc.Scott Eschelman (’89) | BUILD:Cameron Falconer (MBA ’97) | HinesBob Foley (’81) | TPG Real Estate Sam Freshman (’54, JD ’56) | Standard Management

CompanyBrad Geier (’79) | Merlone Geier PartnersCathy Greenwold (MS ’89) | TMG PartnersTiffany Griego (’98, MBA ’04) | Stanford Research GroupJohn Griggs III (’95) | Presidium GroupJulie Gutzwiller (’90) | Bridge PartnersChad Hagle (’98) | Aventine Development CorporationMike Halper (MBA ’88) | ATC Partners, LLC

Alvin Katz (JD ’77) | Katten Muchin Rosenman LLPR. David Kelly (MBA ’89) | StraightLine Realty PartnersEli Khouri (’82) | Equity OfficeMatt Khourie (MBA ’80) | Trammell Crow Company David L. Knowles (’77, MBA ’79) | Stanfield Partners, a

division of Chessiecap SecuritiesBill Koman (’81) | The Koman GroupKyle Ladewig (’08) | Real Estate Tech EntrepreneurRobert Larson (’73, MBA ’75) | Acacia Capital CorporationHanns Lee (’91) | Strategic Real Estate AdvisorJonathan Lischke (’97) | Merlone Geier PartnersTom Lockard (’79) | 280 CapMarketsBob Lowe (MBA ’64) | Lowe Enterprises, Inc.Mike Lowe (’91, MBA ’97) | Lowe Enterprises, Inc.Robert “Rob” Lowe (’88) | Lowe Enterprises, Inc.Mark MacDonald (’93, MSM ’07) | DM DevelopmentChris Mahowald (MBA ’89) | RSF PartnersRichard Mallory (JD ’69) | Allen MatkinsDrew McCourt (MBA ’11) | MG Properties, McCourt GlobalBuzz McCoy (’58) | Buzz McCoy AssociatesSusan Meaney (’82) | Makena Capital ManagementO’Malley Miller (’73) | Allen Matkins

Melinda Ellis Evers (MBA ’93)Ellis Partners

Jonathan Moy (’05) | Cathexis Investment ManagementDan Neidich (MBA ’74) | Dune Real Estate Partners LPPatrick Orosco (’98) | The Orosco GroupMario J. Palumbo, Jr. (JD ’97, MBA ’98) | Millennium PartnersAndrea Nicholas Perdue (MBA ’08) | Colony NorthStarTricia Peterson (MBA ’00) | Accord Group HoldingsWilliam Powers (MBA ’83) | The Strand PartnersLauren Pressman (’95, MBA ’01) | California-based family

office

Brian Heafey (’90) | PCCP, LLCRobert Hollister (MBA ’96) | The Sobrato OrganizationRichard Holmstrom (’79) | Menlo EquitiesL. William “Bill” Huck (’72, MBA ’81) | Common Bond

Capital Partners, LLCWilliam Jackson (’86, JD ’89) | Pircher, Nichols & MeeksJeff Jacobson (’83, MA ’84) | La Salle Investment

Management Jason Kalisman (MBA ’10) | The Talisman Group

Hamid Moghadam (MBA ’80)Prologis

Lili Wang (’03, MS ’03)New City Group

Jeff Quicksilver (JD ’86) | Walton Street CapitalAndy Richard (’91) | Credit Suisse Securities LLCCharlie Rose (’03) | Invesco Real EstateRalph Rosenberg (MBA ’90) | KKR & Co. L.P.Bill Rothacker (’74, MS ’74, MBA ’80) | Cadence Capital

InvestmentsEric Samek (MBA ’03) | AEW Capital Management, LP Mark Shoberg (MBA ’03) | Stanford Management CompanyRon Sturzenegger (’82) | Bank of AmericaLydia Tan (MBA ’91) | Bentall KennedyTad Taube (’53, MS ’57) | Woodmont CompaniesPatrick Tooley (MBA ’98) | Tooley Interests, LLCWilliam Tooley (’56) | Tooley Investment CompanyAndy Walburger (’98) | Ten-XRoss Walker (’98, MBA ’05) | Hawkins Way Capital, LLCJoshua Waltzer (’95) | North Street Finance

David Hamamoto (’81)Colony NorthStar, Inc.

Mark Whiting (’78, MBA ’82) | Drawbridge RealtyHoward Wolf (’80) | Stanford Alumni AssociationDick Wollack (MBA ’69) | Fulton Capital Advisors

Charles Young (’90, MBA ’03)Colony Starwood Homes

Kenneth Woolley (MBA ’71, PhD ’72) | Extra Space StorageCarol Wyant (’61) | Pathfinder ConsultingGregg Young (MBA ’79) | Karney Management CompanyRon Zeff (MBA ’88) | Carmel PartnersDale Zeitlin (’77) | Zeitlin & ZeitlinMark Zytko (’89) | Mesa West Capital


Board of Directors

Interim ChairmanPatrick Tooley (MBA ’98) | Tooley Interests, LLC

PresidentDavid Butler (’96) | Argosy Real Estate Partners

DirectorsFred Allen (’61) | Allen Matkins Leck Gamble Mallory &

NatsisMichael Armstrong (MBA ’09) | GI Partners Real Estate

GroupDan Broderick (’98) | Cushman & WakefieldAnthony Clarke (’12, MS ’12) | PIMCOTravis Duncan (MS ’15, MBA ’17) | Sares RegisScott Eschelman (’89) | BUILD:Tiffany Griego (’98, MBA ’04) | Stanford Office of Real

EstateChad Hagle (’98) | Aventine Development CorporationDavid L. Knowles (’77, MBA ’79) | Stanfield Partners, a

division of Chessiecap SecuritiesKyle Ladewig (’08) | Real Estate Tech EntrepreneurHanns Lee (’91) | Real Estate Strategic AdvisorStephen Roulac (PhD ’78) | Roulac GlobalAndy Walburger (’98) | Ten-X, LLCCarol S. Wyant (’61) | Pathfinder Consulting

Chairman EmeritusSamuel Freshman (’54, JD ’56) | Standard Management Co.

Board of Directors Committee Volunteers Brenna Moorhead (’91) | GoodwinHans Galland (MSM ’13) | Pacific Eagle Real Estate Fund

ASPIRE Student Club FounderJason Lopata (’17) | Craig Lawson & Co Land Use

Consultants

Regional Leaders

Northern CaliforniaScott Eschelman (’89) | BUILD:Carlos Valdivia (’96, MBA ’03) | Cornerstone Realty CapitalDesiree Stahley (’07, MA ’07) | Lincoln Property Company

Southern CaliforniaJason Lopata (’17) | Craig Lawson & Co Land Use

ConsultantsLoryn Arkow (JD ’95) | Stroock, Stroock & Lavan LLPKyle DeThomas (MS ’13, JD ’13) | Latham & Watkins LLPJonathan Cheng (’00, MBA ’07) | Tourmaline Capital

ChicagoShallene Cua Gross (’06, MBA ’10) | Equity Group

InvestmentsWilliam Griffiths (MBA ’04) | Equity Group InvestmentsChristian Lane (’93) | First American Title

New York CityPeter Ciganik (MBA ’07) | GTIS PartnersEmily Jones (’11) | CBREMardi Schecter (JD ’86) | Younkins & Schecter, L.L.P.

Washington D.C.Melanie Domres (’86) | Cafritz Interests LLCCary Kadlecek (’99) | Goulston & StorrsPhilip Porter (’91) | Enterprise Community Investment, Inc.

SeattleMark Hefner (’81) | Mohr Partners

Staff

Elizabeth Youngblood Lambird (’91) | Executive DirectorAnthony Sánchez (’07) | Member Services CoordinatorSydnee Brooks | Program Manager

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