October 16, 2025 | NEW YORK
How the Fed’s tightening, geopolitical shocks, and inflation volatility are forcing capital to rethink U.S. real estate.
With the Federal Reserve raising rates aggressively — pushing the 10-year Treasury to 4.5%+ — and inflation still running hot, CRE investors face an unprecedented repricing of risk. Add to that mounting geopolitical tensions disrupting cross-border flows, and gateway markets like NYC and San Francisco are in flux. This session cuts through the noise to reveal where capital is moving and why.
Key Questions:
Interviewer
Co-Head of Real Estate
Weil, Gotshal & Manges LLP
Jannelle Seales is Co-Head of Weil’s Real Estate practice and is based in New York. Jannelle’s practice is comprised of financing, joint ventures and acquisitions and dispositions. She also advises public and private companies and other institutional clients with respect to mergers, acquisitions and divestitures of real estate related companies.
Jannelle is recommended for REITs and Real Estate by Legal 500 US, nominated for Lawdragon’s 2025 “Lawdragon 500 X – The Next Generation” and named to Lawdragon’s 2025 list of the “500 Leading Real Estate Lawyers” and Lawdragon’s 2024 list of the “500 Leading Global Real Estate Lawyers”. She was also shortlisted as “Real Estate Lawyer of the Year” for Euromoney Legal Media Group’s Americas Women in Business Law Awards for 2024, 2023 and 2022.
Jannelle received her J.D. from Georgetown University Law Center and her B.A. from Harvard University.
Co-President
BGO
Amy Price is Co-President of BGO. In her role, Amy oversees its U.S. and Canadian businesses, and works closely with the Capital Raising team. Amy is a member of the Global Executive Team, the Management Committee, and the US Investment Committees. Amy also leads BGO’s equity, diversity and inclusion (EDI) initiatives globally and chairs the firm’s EDI Leadership Council.
Prior to joining the firm in 2012, Amy was a managing director and head of real estate investing for the western U.S. at Morgan Stanley, where she was an Investment Committee member, and built the real estate investment management business in San Francisco. Amy also spent time in Morgan Stanley’s New York and Hong Kong offices.
Amy is a member of the Global Board of Directors of Urban Land Institute (ULI), and a member of the Executive Committee and Board of Directors of AFIRE. She is also involved in philanthropic endeavors, as a member of the Board of Directors of the YMCA of San Francisco, the National Charity League with her daughter, and Service Corp with her son.
Amy holds an MBA with distinction from the University of Pennsylvania’s Wharton School and graduated magna cum laude from Colgate University.
Behind closed doors, senior leaders tackle the complex technical challenges shaping capital deployment in today’s fractured market.
These high-level roundtables delve deep into the legal, tax, and structural issues nobody else will confront — exposing hidden risks and forging smarter strategies to protect capital and maximize returns.
Roundtable 1: Navigating Corporate Finance Under Distress
Attorney and Founder, Jacobs, P.C.
Leo Jacobs is a commercial litigation and bankruptcy attorney and the founder of Jacobs, P.C., a boutique law firm known for finding creative, direct, and expedient solutions to complex and high-profile issues.
Roundtable 2: Structuring Smart: Legal Strategies for Capital Stacks, JVs & Vertical Integration
Co-Chair Real Estate Group, Meister Seelig & Fein PLLC
Matthew Kasindorf is Co-Chair of the firm’s Real Estate Group. He is an accomplished transactional lawyer specializing in sophisticated real estate and investment ventures in New York and throughout the United States. Mr. Kasindorf counsels clients in the formation, syndication, acquisition, financing, development, sale and leasing of all real estate asset classes. He has extensive experience in crafting joint ventures, investment funds and other strategic alliances with particular emphasis on business, tax and finance issues.
Mr. Kasindorf’s team handles single asset and portfolio real estate acquisitions and sales, sophisticated financing transactions including securitized mortgages, multi-tranche mezzanine loans and preferred equity transactions, fund formation, new construction, ground lease negotiation and development, office, industrial and retail leasing for both landlords and tenants, workouts and foreclosures, co-op and condominium development and conversions and air rights and zoning matters.
Mr. Kasindorf is one of the most popular Professors in NYU’s Master’s Degree Program, the Schack Institute of Real Estate, where he has earned the prestigious “Award for Teaching Excellence”. He is considered such a dynamic advisor that he is also invited to lecture at NYU’s Real Estate Development and Asset Management Institutes, catering to the most serious investors and real estate professionals from the U.S. and around the world. Mr. Kasindorf is well known as the Chief Networking Officer (“CNO”), and spends a significant amount of time teaching others how to effectively network in the real estate industry. He is the developer of “Atomic Networking®”, a lecture series focused on creating success for all members of the real estate community.
Roundtable 3: Title Agency verse Title Underwriter – Plus or Minus ?
President, Ram Abstract Ltd.
A focused opportunity to reset your mind and make strategic connections. Grab a coffee, exchange quick insights, and build your circle with some of the industry’s sharpest minds.
Core market investing is being rewritten in real time. Rising interest rates, constrained capital, and rapidly evolving tenant expectations are forcing investors and operators to rethink traditional underwriting, deploy creative financing solutions, and innovate operational strategies—or risk losing value. The playbook that once guided predictable returns no longer applies. In this session, top investors and operators will unpack how they are navigating today’s unprecedented complexity, identifying actionable opportunities, and unlocking tangible upside in urban core markets.
Key Questions:
Chairman & CEO, Time Equities
Francis Greenburger is an American real estate developer, literary agent, author, art collector, philanthropist, and founder of Time Equities Inc., Art Omi, Inc., and the Greenburger Center for Social & Criminal Justice.
Francis Greenburger is the Founder, Chairman, and Chief Executive Officer of Time Equities Inc. Founded in 1966, Time Equities Inc. (TEI) has been in the real estate investment, development, and asset & property management business for more than 50 years. He is also the Chairman of Sanford J. Greenburger Associates (SJGA), a literary agency founded by his father in 1932.
He is the Founder and Chairman of Art Omi and Art Omi Pavilions, a sculpture and architecture park, unique museum complex, and arts center founded in 1992, which also provides residencies for visual artists, writers, dancers, musicians, and architects from all over the world. Most recently, Mr. Greenburger founded the Greenburger Center for Social and Criminal Justice in 2014, which advocates for reforms to the criminal justice and mental health systems.
He also serves on the board of several not for profit organizations and is an active donor to over 300 charitable organizations.
Mr. Greenburger graduated from Baruch College in 1974 with a degree in Public Administration. He is an avid tennis player and traveler. He resides in Manhattan with his wife, Isabelle Autones, and is the proud father of four children: Morgan, Noah, Julia, and Claire.
The capital stack is cracking. Who’s still lending—and on what terms?
With $1.5 trillion in commercial real estate debt maturing by 2026 and traditional lenders pulling back, borrowers are facing a ruthless reality: valuations are down, rates are up, and liquidity is drying up. This session breaks down where credit is still available, how deals are getting restructured, and where opportunistic capital is stepping in to fill the void—including innovative financing tools like PACE.
Key Questions:
What’s actually getting done in today’s market? Where are spreads, LTVs, and recourse trending?
How are borrowers renegotiating existing debt—and what do lenders realistically accept?
Are debt funds truly stepping up, or just reshuffling terms on their own exposures?
Is rescue capital real, or just a marketing tagline? Who’s actually deploying and on what terms?
How are capital providers underwriting risk in assets like office, life sciences, or transitional multifamily?
Where does PACE fit into the evolving capital stack—and when is it actually getting used?
Moderator
Co-head Real Estate, Davis Polk & Wardwell LLP
Brian Lichter is the co-head of our Real Estate practice. He represents property owners, developers, funds, REITs and other financial institutions in a broad range of commercial real estate transactions. He concentrates on the acquisition, development and disposition of office, multifamily, single family rental portfolio, retail, hotel and data center properties; joint ventures; commercial mortgage, mezzanine and construction financings; preferred equity investments; and debt restructurings.
Brian is a fellow of the American College of Real Estate Lawyers and his work is recognized by Chambers USA, IFLR1000 and Law360.
He serves on the board of Habitat for Humanity NYC and Westchester, as well as the Jewish Community Relations Council of New York. Brian is on the Real Estate Executive Committee of UJA-Federation of New York, after holding numerous other roles there. He is also a member of the Real Estate Board of New York and an associate trustee of the Washington Institute for Near East Policy.
Executive Director, PGIM
Shaunak Tanna is an executive director at PGIM Real Estate. Based in New York, Shaunak is responsible for sourcing, underwriting, and structuring real estate investments including senior and mezzanine loans and preferred equity investments for the Eastern and Mid-Western U.S.
Prior to joining PGIM Real Estate, Shaunak was Head of Structured Investments for Basis Investment Group, LLC, where he was responsible for the firm’s mezzanine and bridge lending, and originated a range of investments across stabilized, development and transitional value-add properties. Before Basis, he was with Terra Capital Partners, LLC and its affiliate The Greenwich Group International, LLC.
Shaunak has a Bachelor of Commerce in accounting and taxation from the University of Mumbai and a Master of Business Administration in real estate from Baruch College. Shaunak is also a Chartered Accountant, and an active member of the Advisory Board for Steven Newman Real Estate Institute of Baruch College.
Managing Director, Oaktree
Ms. Mao joined Oaktree in 2019 and leads eastern U.S. originations for the real estate debt platform. Prior to joining Oaktree, Ms. Mao was at BlackRock, where she was a director focused on high yield real estate debt investments. Prior thereto, she was an executive director at Five Mile Capital investing in opportunistic and distressed real estate debt and equity opportunities. Ms. Mao began her career at Morgan Stanley in the institutional products group and, through her 17+ years in real estate, has worked in various commercial real estate debt origination and structuring roles at Eurohypo AG, Credit Suisse and WestRiver Capital. Ms. Mao received a B.S. in operations research and industrial engineering from Cornell University and is a member of WX.
Senior Vice President of Partner Management and Originations,
Petros PACE Finance.
Rachel is based in Houston and is responsible for business development, marketing activities and managing a growing originations team.
She began her career at Reliant Energy, a Houston based provider of electricity and smart energy services. As a Marketing Manager, she spent 12 years working with customers and consultants managing commodity price risk through electricity contracts in Texas and the Northeast. Most recently, Rachel led a national business development team for NRG Energy, a Fortune 200 energy company, where along with her team, she pursued partnerships for onsite/offsite solar, wind, community solar, energy efficiency and combined heat and power systems with Fortune 500
clients. Additionally, she worked with strategic partner firms in the energy efficiency sector to develop and implement sales acquisition strategies for thermal energy storage and evaporative pre-cooling solutions for utility programs in California. Rachel graduated with honors from Texas A&M University with a BBA in Marketing.
Chief Executive Officer, Chesterfield Faring Ltd
Lawrence J. Selevan is responsible for the overall direction of the Firm. Mr. Selevan has more than 40 years of experience in real estate investment banking, investment management, principal ownership, and capital markets activities. During his career, Mr. Selevan has executed $15 billion (plus) in transactions for both US domestic and offshore institutional and private clients, including US REITs, pension fund, fund managers, global investment banks, private family home offices, and Sovereign Wealth Funds.
Prior to the Firm, Mr. Selevan was the CEO of Garrick Aug, Director of Fund Management for Sumitomo Real Estate, Managing Director at Fieldstone, Inc. and the merchant banker for a private family office. He has moderated several conference panels every year specifically referencing private equity, distressed opportunities, special opportunities, and global infrastructure project finance. He has worked on projects throughout the world including the US & the Americas, Europe, Africa, and Asia.
Head of Debt Investment Group, Clarion Partners
Drew Fung has over 30 years of work experience in the real estate investment management industry. Drew began their career at AXA Equitable Real Estate Investment Management in 1987 as a Vice President and worked there for a decade. In 1997, they joined Boston Financial Investment Management as a Senior Vice President. In 2000, they became a Principal at Lend Lease and stayed with the company until 2003 when they joined CWCapital as a Senior Vice President. In 2005, they joined Deutsche Bank Asset Management (formerly known as RREEF) as the Managing Director - Head of High Yield Debt Investments. In 2012, they joined Clarion Partners LLC as the Head of Debt Investment Group.
Drew Fung attended the University at Albany, SUNY from 1983 to 1987, where they studied Finance and Financial Management Services. Following this, from 1990 to 1994, they pursued their MBA degree in International Marketing and International Finance at the NYU Stern School of Business.
Navigating the seismic shifts in asset allocation as capital flows reshape U.S. real estate markets.
The great capital shuffle is underway. As rising interest rates and economic uncertainty force a re-evaluation of risk, investors are pivoting away from overheated sectors and hunting new opportunities. But what’s genuinely discounted—and what’s deceptively overvalued? This session cuts through the noise with fresh data and sharp insights on where capital is moving next.
Key Questions:
Vice Chairman, Bridge Investment Group
Dean Allara serves as Vice Chairman of Bridge Investment Group. He has experience in the real estate investment process including analyzing, raising capital, acquiring, financing, developing, managing, improving and selling properties beginning in 1986. Dean is responsible for capital raising, investment analysis, and investor relations. Dean is directly responsible for investing in over $4 billion in real estate assets. Property types include multi-family and single family residential, commercial, seniors housing, resort golf properties, hotel, and retail properties. Dean has been with Bridge Investment Group since March 2009, where he is involved in raising capital from high net worth individuals, family office and institutional partners in addition to responsibilities related to ownership, investment analysis, development, asset management, investor relations, and legal & tax issues. Dean is also responsible for real property development including permits and zoning, master planning, debt financing, insurance, construction management, home owners’ association management, marketing and residential sales. Dean’s previous experience includes a ten-year career with Trace Digital, a leading global supplier of software manufacturing equipment, where he rose from a Regional Sales Manager to President and CEO. Dean earned his Bachelor of Science degree in Business Administration from the St. Mary’s College in 1984, which included one year at Loyola University of Rome, Italy. He also earned his Master of Business Administration from Santa Clara University in 1986 with a semester at the Tokyo University studying Business Law.
Managing Director, StepStone Group
Mr. Iadanza is a member of the real estate team.
Prior to joining StepStone, Mr. Iadanza was a vice president at Pebb Capital Management where he focused on underwriting and structuring real estate acquisitions across geographies and asset classes. Before that he was an analyst at the Baupost Group within their private investment valuation team. Previously Mr. Iadanza was a senior consultant within PwC’s financial services asset management vertical.
Mr. Iadanza received a BS in business administration from Stonehill College and an MS in real estate finance and development from Georgetown University.
Conviction Under Pressure: Rethinking Risk and Allocation in 2025
Description: Establish the evolving investment landscape.
Explore how allocators are redefining risk tolerance and capital deployment strategies amid unprecedented market volatility and rising costs. This session sets the foundation for strategic decision-making in an unpredictable environment.
Key questions:
Adapting to the New Market: Strategic Capital Deployment in 2025
Description: Frame the market realities and strategic responses.
An overview of how capital deployers are revising underwriting, capital strategy, and investor engagement in response to higher costs and constrained liquidity.
Key questions:
CRE, Head of Real Estate Research & Strategy
MetLife Investment Management
William Pattison is the head of the real estate research & strategy team within the risk, research & analytics group of MetLife Investment Management (MIM). He is responsible for research and strategy development in support of MIM’s real estate equity and debt platforms. In this role, he works closely with MIM's real estate regional offices and portfolio managers to craft the strategic house view, drive thought leadership initiatives, project capital market trends, and develop investment strategies that seek to maximize returns while minimizing market, rate, and liquidity risks. As a member of the Investment Committee, William is responsible for reviewing and voting on all U.S. real estate acquisitions.
Prior to joining MetLife in 2015, William worked for ten years in the real estate group at Aegon Real Assets.
William is a graduate of Iowa State University, where he earned his Bachelor of Science degree in economics.
Panel Topic: Capital Allocation in a Volatile Market: LP Perspectives
Description: Surface key investment challenges.
Senior allocators discuss the fundamental hurdles affecting portfolio construction and capital deployment as inflation, rates, and market uncertainty reshape priorities.
Key questions:
Chief Investment Officer,
Winter Family Investment Office
Managing Principal
CSFG Real Estate
Anthony Russo ’15, a seasoned real estate professional with over a decade of experience, is a Partner and Managing Principal at CSFG Real Estate. A graduate of Duke University (2015) and NYU Schack Institute of Real Estate (2020), Anthony began his career at Sterling Project Development, where he honed his skills as a project manager from 2015 to 2020. In 2020, he joined CSFG as its first full-time employee, playing a pivotal role in expanding the firm's real estate investment portfolio across the United States and Europe. His expertise spans various sectors, including multifamily, industrial, hospitality, and retail, with deals ranging from $10 million to $100 million.
Panel Topic: Navigating Cost and Liquidity Challenges: Capital Deployer Insights
Description: Identify operational barriers and solutions.
Senior deployers discuss the key challenges and strategic responses to managing capital deployment under pressure from rising costs and limited liquidity.
Key questions:
Managing Director and Head of Acquisitions for North Haven Net REIT,
Morgan Stanley Real Assets
David Gross is the Head of Acquisitions of the Company. Mr. Gross is a senior investment professional of MSREI based in New York focused primarily on new investment activity across real estate sectors and strategies and on managing existing investments. Mr. Gross has led over $3 billion of real estate investments for MSREI across all major property types, including net lease, industrial, healthcare, and residential. Prior to joining Morgan Stanley in 2016, Mr. Gross worked at Lazard in its real estate investment banking division where he advised public and private real estate companies and REITs on a range of strategic alternatives, including M&A, leveraged buyouts, asset dispositions and sale-leaseback transactions. Prior to Lazard, Mr. Gross worked as an attorney at Simpson Thacher & Bartlett LLP where he represented institutional investors and private equity sponsors in complex commercial real estate acquisitions, developments, joint ventures and financings. Mr. Gross graduated with a J.D. from Harvard Law School and a B.A., summa cum laude, in Economics from New York University.
Managing Director and Portfolio Manager of the US Value-Add Funds, BGO
Mr. Cervino is the Managing Director and Portfolio Manager of the US Value-Add Funds for BentallGreenOak, drawing on more than 16 years in acquiring/disposing and asset managing office, industrial, multi-family, retail and hospitality real estate assets across the U.S. Mr. Cervino’s leadership at BentallGreenOak includes an active role in driving the firm’s ESG and diversity and inclusion missions and is keenly involved in the mentorship and development of the next generation of investment professionals at the firm. Mr. Cervino serves on the board of directors for the Institute for Community Living (ICL) where he also chairs the Real Estate committee for the non-profit organization.
Founder
LSC
Rob founded Lone Star Capital in 2018 and has overseen the acquisition, financing, and management of over $750 million in apartment communities. As CEO, Rob drives the strategic growth of the firm, while also identifying and raising capital for new investment opportunities. He leads Lone Star Capital's in-house property and construction management division, Lone Star Communities, ensuring excellence in renovation, lease-up, and ongoing management.
Rob has sold over 25,000 copies of his two books on commercial real estate. He is a sought-after speaker at industry conferences nationwide and hosts the popular Lone Star Capital podcast. Prior to Lone Star Capital, Rob studied Information Systems at Carnegie Mellon University for two years before pursuing his entrepreneurial ambitions full-time.
LSC is in no way affiliated with Lone Star Global Acquisitions, Ltd. or any of its affiliates doing business as Lone Star Funds or LStar Capital"
Panel Topic: Capital Deployer Alignment: Meeting Allocator Expectations in 2025
Description: Highlight collaboration opportunities.
Focus on how capital deployers can innovate capital structures and transparency to better align with allocator needs, fostering stronger partnerships in a complex market.
Key questions:
Managing Director and Head of Equity Strategies, MetLife Investment Management (MIM)
Sara Queen is a Managing Director and Head of Equity Strategies for MetLife Investment Management’s (MIM) Real Estate group. She is responsible for leading MIM’s direct property investment platform and investing on behalf of the MetLife general account and third-party institutional investors.
Prior to joining MIM in March 2021, Sara was Head of North American Business at Mapletree Investments and Head of Asset Management for the U.S. office portfolio at Brookfield Property Partners. She also held a variety of asset management and portfolio management roles at Clarion Partners and started her asset management career at MetLife.
Sara earned an M.B.A. from Harvard Business School and a B.A. in Economics and History from Wellesley College.
Vice President – Transactions, Real Estate
AXA Investment Managers
Alex Schaefer is a Vice President, Transactions on the real estate investment team at AXA Investment Managers, the asset management arm of the Paris-headquarter multinational insurance firm and a global leader in real estate investment management. At AXA-IM, Alex focuses on transactions across property types and across the risk spectrum in institutional markets throughout the country.
Before joining AXA in 2021, Alex served as a Vice President at TKF Real Estate Investment, specializing in value-add and core-plus investments in office and mixed-use assets across the East Coast. Prior to TKF, he was Head of Acquisitions for ALTO Real Estate Funds, a New York-based private equity firm focused on value-add investments nationwide in partnership with experienced local operating partners. Alex's earlier experience includes roles as Director of Acquisitions at VEREIT, a publicly traded REIT, where he played a key role in its management of over 4,000 properties across 49 states. His career path also included positions with American Realty Capital, where he transitioned into VEREIT following a merger of publicly traded investment vehicles.
Vice President Real Estate
Hamilton Lane
Panel Topic: Investor Priorities: What Capital Deployers Must Deliver in 2025
Description: Clarify evolving Capital Allocators requirements.
Capital allocators articulate their updated criteria for capital commitment, emphasizing the expectations capital deployers must meet to maintain and grow investor relationships.
Key questions:
Managing Partner
SJI
SJI is operated by the Tandon family. The Tandon family office has invested in real estate for almost 20 years. The Tandon family is a 2nd generation enterprise and real estate investment group. Divya Tandon is the president and chief executive officer of the family office.
The family actively seeks investments in multifamily real estate throughout the US. Its focus is value-add. SJI believes that there are an exorbitant number of opportunities to invest in the US multifamily sector. The family office actively seeks to invest in a wide range of operators and asset managers focused on the multifamily industry.
Divya’s first real estate acquisition occurred in 2004 and since then she has been heavily involved in the world of investing. Divya is not just allocating to stable asset classes like real estate but also diversifying beyond public markets and in investments that have the potential for higher returns with proper due diligence. Divya Believes capital needs to be redistributed for wealth preservation and growth. Divya is goal-driven and believes in ownership or direct investment in every project she participates in.
Divya has been full cycle in 40 real estate transactions. Her expertise includes site analytics, construction, operations, and real estate sales. Divya works to find opportunities that align with the family office’s long-term goals. Divya’s goals at the family office include wealth preservation and growth.
President
Harvard Real Estate Alumni Association
DJ Van Keuren is the Co-Founder of Evergreen Property Partners, President of the Harvard Real Estate Alumni Association, and the Founder of the Family Office Real Estate Institute. A Harvard-trained strategist with additional studies at NYU’s Shack Institute, DJ is recognized as one of the most influential figures in family office real estate investing—having created the industry’s only dedicated educational platform and a patent-pending structure for tax-deferred generational wealth growth.
D.J. has received numerous industry accolades, including being ranked among:
* The Top 10 U.S. Real Estate Professionals for Family Offices by Family Capital.
* The Top 30 Real Estate Investors for Family Offices by Trusted Insight.
* The Top 50 Opportunity Zone Experts.
* The Top 50 World Family Enterprise Advisors by Family Capital.
Throughout his career, D.J. has held senior real estate positions at several prestigious single-family offices, including:
* The Hayman Family Office (Giorgio Perfume/Giorgio Beverly Hills & Discus Dental).
* The Arsenault Family Office (Mountain High Yogurt).
* President of Real Estate for a family member of an MLB team owner.
A thought leader in family office real estate investing, D.J. is a member of the Forbes Real Estate Council and a frequent Forbes contributor. He is the author of Real Estate Investing for Family Offices and a sought-after speaker at family office conferences worldwide. His insights have been featured in Forbes, Family Office Elite, Real Asset Advisor, National Real Estate Investor, Private Wealth, and cited in The New York Times, PERE, National Real Estate Investor, Trusted Insight, and more.
D.J. is actively involved in advisory and governance roles, including:
* Advisor to Keiretsu Family Office.
* GP Advisory Committee Member to Gated Rentals.
* Former Stanford Global Family Office Committee Member.
* Editorial Board Member for Real Asset Advisor Magazine.
* Past Board Member for the Real Estate Academic Initiative at Harvard.
He holds a Master’s Degree in Management and Finance from Harvard University, pursued graduate studies in Real Estate at NYU’s Schack Real Estate Institute, and earned his B.A. from Ball State University, where he played Division IA baseball.
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