ULI 2001 FALL MEETING



Westchester Fairfield ULI District Council

Capital Markets Program

April 30, 2010

Rye Town Hilton, Rye, NY

REVISED PROGRAM

TITLE: Private Equity: Deal Talk

Come learn what is happening in the dynamic world of real estate private equity from the leading participants (who just happen to be headquartered in our own backyard). Where are active players looking for and finding deals in the current distressed market? How have they changed their underwriting metrics? And what does the competitive field look like? Which asset classes offer the best risk-reward scenarios and why? How are private equity firms dealing with valuation of existing assets, and sizing and fee structure of existing and new funds? Is the “traditional fund model”, with GP/LP and 2 and 20, still optimal and valid? Come hear our expert panel, learn about the most up-to-date transactions and pricing in the real estate private equity arena, and network with peers!

LOCATION: Rye Town Hilton (meeting room TBD), Rye, NY

TIME: 7:30 AM Registration; Program 8:00 AM - 9:45 AM

ORGANIZATIONAL CALL:

Date: Tuesday, April 20, 2010

Time: 10:00am

Dial-in Number: 219-509-8222

Participant Code: 144579

COORDINATORS:

|Andrew Sternlieb |Alyson Toombs |

| | |

|AGN Realty Partners LLC |Merritt Capital Investors, LLC |

|PO Box 298 |PO Box 1116 |

|55 Finch Road |25 Canoe Hill Road |

|North Salem, NY 10560 |New Canaan, CT 06840 |

| | |

|(914) 669-8625 |(203) 966-7634 |

|andy@ |alyson@ |

MODERATOR:

|David Rupert (c) |The Olympia Companies |

|President, Fund Management |173 Hamilton Avenue |

| |Greenwich, CT 06830 |

| | |

| |203-422-5500 |

| |drupert@ |

PANELISTS:

|Russel Bernard (c) |Westport Capital Partners |

|Managing Principal |55 Post Road West, Suite 320 |

| |Westport, CT 06880 |

| | |

| |(203) 429-8600 |

| |rbernard@ |

|Karl Frey (c) |Starwood Capital Group |

|Managing Director |591 West Putnam Avenue |

| |Greenwich, CT 06830 |

| | |

| |(203) 422-7700 |

| |kfrey@ |

|David Streicher (c) |Rockwood Capital Corporation |

|Managing Director |10 Bank Street, 11th Floor |

| |White Plains, NY 10606 |

| | |

| |(914) 287-8850 x8819 |

| |dstreicher@ |

|Susan Swanezy (c) |HodesWeill & Associates |

|Partner |623 Fifth Avenue, 24th Floor |

| |New York, New York 10022 |

| | |

| |(212) 542-5979 |

| |susan.swanezy@ |

C=Confirmed I=Invited P=Proposed

Bios:

David Rupert. David Rupert’s 30 year real estate career includes more than $5 billion in transaction volume on four continents. He is currently raising an equity fund to purchase distressed hotels with The Olympia Companies, a privately-held, 800-employee, hotel owner-operator with four decades of experience.  David also creates digital marketing programs for leading companies (in commercial real estate and other industries) through his Whitebrook Media platform.  David's prior commercial real estate experience includes an eight year tenure as Chief Operating Officer of Griffin Capital, a Los Angeles-headquartered real estate investment company, where he helped the firm acquire a portfolio in excess of $900 million and 8.4 million square feet, employing equity raised from more than 700 individual investors via 30 independent broker dealers, and a decade, primarily during the 1990’s,  at Salomon Brothers (now part of Citi) based in London, Sydney, Tokyo and New York.  At Salomon, David was a senior executive providing valuation, merger advisory, brokerage and securities underwriting and distribution services to leading public and private real estate owners around the world.  A graduate of Harvard University with an MBA, and Cornell University with a BA, David has been very active in a myriad of Cornell activities for more than 20 years, including: Advisory Board to Cornell Endowment Fund on real estate investments; Founding Board Member, Cornell Masters Program in Real Estate (PRE); PRE Annual Conference and Event Planning Chairman; and guest lecturer in various PRE courses. 

Russel S. Bernard, Managing Principal. Prior to founding Westport Capital Partners LLC in 2005, Mr. Bernard was a Principal at Oaktree Capital Management, LLC (“Oaktree”) and the Portfolio Manager for Oaktree’s real estate funds. He led a team of professionals who assisted in the investment and management of Oaktree’s real estate portfolio. Prior to joining Oaktree in 1995, Mr. Bernard was a Managing Director of Trust Company of the West (“TCW”) and Portfolio Manager of the TCW Special Credits Distressed Mortgage Fund. Prior to his tenure at TCW, Mr. Bernard was a partner in Win Properties, Inc., a national real estate investment company. During his eight years with the firm, he was responsible for the acquisition, financing and operation of a national real estate portfolio. Before joining Win Properties, Mr. Bernard was with Time Equities, Inc., a New York real estate company, for three years. Prior to that, he was a Staff Accountant at Price Waterhouse in New York. Mr. Bernard was formerly Chairman of the Board of Lodgian, Inc., a Delaware corporation listed on the American Stock Exchange. Mr. Bernard holds a B.S. in Business Management and Marketing from Cornell University.

Karl Frey is a Managing Director in the Acquisitions Group at Starwood Capital Group. Mr. Frey has spent 24 years in the real estate industry with broad experience in all aspects of real estate investing. Mr. Frey had been with Starwood Capital from 1996 to 2003 and rejoined the firm in 2007.

Prior to re-joining Starwood, Mr. Frey was a Principal at Vespera, a firm focused on historically and socially sensitive development projects. Previously, Mr. Frey was a Managing Director for MetLife Realty Group, in charge of nationwide acquisition activities for the firm’s clients. His career also includes management positions with The Home Depot, Insignia Financial, AIG and MetFirst Financial.

Mr. Frey is a graduate of the Sloan School of Management at MIT.

David Streicher, CFA, Managing Director. Mr. Streicher has overall responsibility for all of Rockwood's debt capital markets activities and structured transactions. On the debt side, Mr. Streicher is responsible for all of Rockwood’s borrowings, lending, and interest rate and overall leverage management as well the restructuring of all existing loans. Additionally, he is responsible for structured transactions including recapitalization actives with respect to both new investments and existing assets.

Prior to joining Rockwood, Mr. Streicher worked at The Related Companies, a real estate developer, manager and financier. While at Related, Mr. Streicher focused on the repositioning and financing of mixed-use properties.

Prior to the Related Companies, Mr. Streicher was a High Yield Analyst at Donaldson Lufkin and Jenrette where he worked on analyzing a verity of different types of companies including, real estate, health care and other companies.

Susan Swanezy is a Partner at Hodes Weill & Associates. Previously, Ms. Swanezy was a Managing Director and Head of Distribution for Credit Suisse's Real Estate Investments Group. Prior to joining Credit Suisse, Ms. Swanezy was a Managing Director at Stockbridge Capital Partners focused on client relations and business development. From 2002 to 2007, Ms. Swanezy was a Partner in Deutsche Bank RREEF's Client Relations Group, where she worked with institutional investors across a variety of real estate investment strategies. Ms. Swanezy led the client relations and capital raising efforts for RREEF's global opportunistic funds business. She also spearheaded product development efforts leading to the successful launch of RREEF's global real estate securities business and real estate securities hedge fund. Ms. Swanezy also held senior roles in Deutsche Bank's real estate arm, DB Real Estate, and played a leading role in the firm's acquisition of RREEF.

Until 2001, she was an investment banker with Deutsche Bank's real estate investment banking group, the successor entity to BT Alex Brown, providing both public and private debt and equity related products to REITs, private real estate operators and real estate funds. Prior to rejoining BT Alex Brown's real estate group, Ms. Swanezy was a Principal in UBS's real estate investment banking group developing relationships with REITs and other real estate companies. Her real estate career began in Chase Manhattan Bank's real estate lending group covering clients based in the Northeast and then she moved to Bankers Trust's real estate group where she was the team leader for the Northeast team.

Ms. Swanezy has a BS degree from the School of Foreign Service, Georgetown University. Ms. Swanezy serves on the Board of WX, Inc., New York Women Executives in Real Estate.

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