I
was in Chicago last week. No matter how
many times I’ve visited there the architecture always impresses me. For those
of you who have not done it yet, there are some great architectural boat tours
to be taken – I’d wait for the spring if I were you! I’ve been fortunate to have done it twice and each time you see something
different – especially because the skyline is continually changing.
NAREIM Research and Investment Management
Meeting
NAREIM
(National Association of Real Estate Investment Managers) runs a series of
meetings focused on different specialized areas of the real estate investment
management world.
This
research meeting is the second such that I’ve attended and I was so glad to be
there. Amongst the group of 22 that
gathered in NAREIM’s funky Chicago office in the Wrigley building were 5
marquee names in real estate research –
Mike Acton, AEW
Allan Billingsley (retired), RREEF
Jim
Clayton, Cornerstone
Doug Herzbrun, CBRE Global Investors
Will
McIntosh, USAA
And,
while the experiences these industry veterans shared contributed greatly, the
attendance and contributions from the next generation of folks passionate about research really
made the discussion and meeting special.
Gunnar
Branson, CEO of NAREIM does not like the status quo. In all his meetings, he challenges
participants by providing attendees a ‘License to Think in Public.’ This results in a remarkably open dialogue
otherwise rarely experienced.
Due
to the rules of engagement at NAREIM meetings, I am not permitted to share
specifics of what was discussed or some of the wonderfully colorful comments
people made – you need to be there for yourself to take those away! But, if you are in the research side of the
real estate investment management business, or have an interest in pursuing
that avenue, I highly recommend you consider attending next year’s meeting.
One
update from the meeting I can share with you involves the announcement from Jim
Clayton about the upcoming Real Estate Research Institute (RERI) Conference in
Chicago on May 10 and 11. RERI is an academic group within the institutional
real estate research world. At this
meeting, the authors themselves will present papers and there will be ample
opportunity for discussion.
Peter Steil, CEO of NCREIF (National Council of Real Estate
Investment Fiduciaries) also attended the NAREIM meeting and brought
additional insights. NCREIF’s WinterConference is
taking place March 9-11 in Phoenix, AZ.
In addition to CEO’s from NCREIF, ANREV (Asian Association for Investors in
Non-listed Real Estate Vehicles and INREV (European Association for Investors
in Non-Listed Real Estate Vehicles) discussing global collaboration
efforts, the Closing General Session will feature my good friend, Doug
Poutasse, Executive VP and Head of Strategy at Bentall Kennedy talking about
“What’s different this time?” If you have not heard Doug speak, he alone is worth the price of admission! I’ve attended this event in the past and the mixture of pension
funds, consultants and managers gives it an eclectic dynamic. Unfortunately, I have a conflict and will not
be able to make it this time but if you attend please send me a few takeaways
to share with our community.
Nick
Tyrrell Research Prize 2016 Call for Papers
Some of you will recognize the name Nick
Tyrrell. Nick was a friend of mine and
until his untimely death in 2010 was Managing Director and Head of Research and
Strategy in JPMorgan’s European Asset Management Business. Nick was his own person, rode a motorcycle
from the suburbs to his London office, loved rock ‘n roll (not hard to figure
out why he and I hit it off!) and a brilliant real estate mind.
In 2011, the Nick Tyrrell Research Prize was established in
by the Investment Property Forum, INREV and the Society of Property Researchers
to recognize and promote high quality applied research in the field of real
estate investment. Here’s the
announcement / invitation to this year’s competition posted on LinkedIn by
another good friend, Paul Kennedy of Abu Dhabi Investment Authority (ADIA):
The prize is in memory of the work and industry contribution of
Nick Tyrrell. His research work was characterized by a combination of
academic rigor, practical relevance and the encouragement of young researchers.
The response of the research community to the inaugural prize in
2012 was very encouraging with a large number of quality and diverse papers submitted
by leading academics and practitioner researchers from around the world. Over
the last four years the number and diversity of submissions has expanded and
the prize has established itself as an increasingly prestigious award.
I am writing to invite you to submit a paper for the 2016 prize.
The deadline for submissions is the 31st of May 2016. As with previous years,
the Nick Tyrrell Research Prize will be awarded to a paper addressing any topic
in real estate investment that, in the opinion of the Judges, combines both
academic robustness and practical relevance.
For 2016, the sponsors have created an additional award, the
Nick Tyrrell Under 35 Research Prize, to allow the Judges to recognize work by
younger members of the research community. This change reflects both the
original aims of the Prize and the growing number of high quality papers
submitted by younger researchers over the last four years. In order to qualify
for this new award all authors should be below the age of 35 on the closing date
for submissions (i.e., the 31st of May 2016).
In addition to a cash prize of £2,000 / $2881.20 (£1,000 / $1,440.60) for the under
35 award), the winners will receive publicity from the three sponsoring organizations
and an opportunity to present their work at an industry seminar and, if
required, assistance with journal submission.
If you would like to submit a paper, or require further
information on the Nick Tyrrell Research Prize, please do not hesitate to
contact me, Paul Kennedy (paul@pjkennedy.co.uk)
or Ms. Henri Vuong (Henri.Vuong@INREV.org).
CRE Tech Intersect
On
the subject of worthwhile events to attend I offer you CRE Tech Intersect
which, on it’s website, describes itself as “a grassroots effort driven by a
small number of passionate individuals and supported by industry leading firms.”
I’ve
attended two of their events already and will be attending others this year - they
are very exciting. The Intersect brings
together many established and start-up commercial real estate technology
companies in one place. You can talk
with the founders and/or senior folks of CRE tech companies and learn about
what they’re doing and why.
CRE
Tech Intersect is the brainchild of Pierce Neiken whose ‘day job’ is with AirbnB. One of the thing that excites me about attending these events is going back in time when I, as the head of
marketing and sales for a commercial real estate industry start-up called CREOL
(Commercial Real Estate Online), participated in the first ever commercial real
estate tech conference in 1997, seemingly light years ago, in New York City
which was organized by Peter Pike, one of the industry’s first bloggers and
visionaries. There were 6 exhibitors and
about 40 attendees! To get a flavor of the
CRE Tech Intersect take a look at these pix from the last event.
The
next CRE Tech Intersects:
March 10: Austin, TX
March 23: Los Angeles, CA
June 2: San Francisco, CA
September 15: London
October 6: New York City
Passing comment: At the airport
I
don’t know if any of you have experienced this: sitting in an airport waiting to board a flight. As you look at
people passing by, you see certain faces which remind you of people in your own life…someone you haven’t spoken to in a while or have been meaning to
contact (but forgot) and others you haven’t seen or spoken to in a long time. And you make a note to touch base with those folks. It's a fascinating thing!
On the Road...
Feb. 24 – 25: National Association of Real Estate Investment Managers (NAREIM) Executive Officers Retreat, Miami FL
March 2: 14th Felix / Weiner Women’s Leadership Workshop, Los Angeles
March
7-8: (PREA) Pension Real Estate
Association Spring Conference, Boston, MA
March 10: 15th Felix / Weiner Women’s Leadership Workshop, New York City
March 14-15: Client presentation coaching workshop, New York City
March 16: iGlobal Forum Real Estate Private Equity Forum, New York City
April
6-7: NAREIM Asset and Portfolio
Management Meeting, Atlanta, GA
April 13-14: PERE Global Investors Forum, Los Angeles, CA
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