From April 24-25, the Real Estate Club took its annual trip to NYC. With over thirty members in attendance and visits to some of the prestigious commercial real estate companies, this year’s trip was the best yet!
We started our day at the Pierre Hotel for the CMBS Panel event hosted by the Center for Real Estate and Finance (CREF), and moderated by our adviser and director of CREF, Dan Quan. 150+ industry professionals were in attendance to listen to the panel, many of whom were involved in the early stages of CMBS (including the famed Ethan Penner, Managing Partner Monday Morning Capital).
CREC proceeded to the Google Building (111 Eighth Ave) for a tour and to speak with management at Taconic Investment Partners, the building’s operator and former owner. CEO Paul Pariser and COO Peter Febo spoke about their asset management role and the deal structure, from Taconic’s purchase in ’96 to its sale in 2010.
We concluded our first day with a reception at the Waldorf Astoria with members of CREF and the Real Estate Minor Alumni of Cornell (REMAC). Among the REMAC guests in attendance, many serve as mentors to the Club’s members, so it was great way to connect.
The next morning we headed to Wells Fargo Structured Finance Products for a presentation about the 2014 CMBS Outlook. Hearing from Marielle Jan de Beur, Head of Structured products Research, was a great way to complement the CMBS Panel from the previous day.
Following lunch at Shake Shack and meeting with its management, we proceeded to our last office visit at Macklowe Properties. Harry Macklowe, CEO of the firm, personally spoke to all thirty of our members, and gave us a tour of the showroom for 432 Park Ave, Macklowe’s latest project, the ultra-luxury residential tower and the 3rd tallest building in the U.S.
Thursday, April 24
• 8:00-11:30am: CMBS Panel event Pierre Hotel
• 1:30-2:30pm: Google building tour
• 3:00-5:00: Taconic Investment Partners (meeting with CEO Paul Pariser)
• 7:00-9:00: Reception with Real Estate Minor Alumni and CREF Board at the Waldorf Astoria
Friday, April 25
• 9:30-11:30am: Wells Fargo Structured Finance Products
• 12:00-1:30: Lunch at ShakeShack and meeting with Management
• 2:00-4:00: Macklowe Properties and personal meeting with Harry Macklowe