24TH ANNUAL REIT SYMPOSIUM CONSOLIDATION & GROWTH IN TURBULENT TIMES WEDNESDAY, APRIL 3, 2019 • 7:30 AM TO 5:00 PM THE PIERRE • NEW YORK CITY KEYNOTE SPEAKER CONFIRMED SPEAKERS JAMES TAICLET ADDITIONAL SPEAKERS TO BE ANNOUNCED Chairman, President and Chief JANA COHEN BARBE, Partner, Dentons Executive Officer, American STUART BARR, Fried, Frank, Harris, Shriver & Tower Corporation Jacobson LLP Z. JAMIE BEHAR, Director, Shurgard Self Storage SA ONE-ON-ONES WITH MICHAEL J. BILERMAN, Citi DEBRA A. CAFARO JON E. BORTZ, Pebblebrook Hotel Trust Chairman and Chief Executive GEMMA BURGESS, President US Search Officer, Ventas Ferguson Partners Ltd. BILLY BUTCHER, KKR Real Estate Group KENNETH CAPLAN JAMES B. CONNOR, Duke Realty Corporation Global Co-Head of Real Estate GORDON F. DUGAN, Former CEO, Gramercy Blackstone Property Trust CONOR C. FLYNN, Kimco Realty Corporation BARRY S. STERNLICHT BONNIE S. GOTTLIEB, Nareit Chairman of Capital Group THOMAS A. GRIER, J.P. Morgan Securities GRETA GUGGENHEIM, Chief Executive Officer President and Partner, TPG Real Estate Finance Trust LUNCH WITH LESLIE D. HALE, RLJ Lodging Trust SAM ZELL DANA HAMILTON, Senior Managing Director and Chairman, Equity Group Head of Real Estate, Pretium Investments RONALD L. HAVNER, Jr., Public Storage, PS Business Parks, Shurgard Europe CONFERENCE CHAIRS ELIZABETH I. HOLLAND, Chief Executive Officer and General Counsel, Abbell Associates, LLC ADAM O. EMMERICH JEFFREY D. HOROWITZ, Bank of America Merrill Lynch Partner, Wachtell, Lipton, Rosen & Katz ANDY JONAS, & Co. LLC JOHN KILROY, Kilroy Realty Corporation ROBIN PANOVKA MATTHEW J. LUSTIG, Lazard Partner, Wachtell, Lipton, JOEL S. MARCUS, Alexandria Real Estate Equities, Inc. Rosen & Katz GUY A. METCALFE, Morgan Stanley E. NELSON MILLS, Columbia Property Trust CONFERENCE HOSTS MARGUERITE NADER, Equity LifeStyle Properties, Inc. SAM CHANDAN, PhD, FRICS TIMOTHY J. NAUGHTON, AvalonBay Communities, Inc. Larry & Klara Silverstein Chair JEFFREY S. OLSON, Urban Edge Properties in Real Estate Development & MARK ORDAN, Quality Care Properties Investment and Associate Dean, MARK J. PARRELL, NYUSPS Schack Institute of SCOTT H. RECHLER ’90, RXR Realty Real Estate SHERRY L. REXROAD, BlackRock SCOTT L. ROBINSON ’98 GLENN RUFRANO, VEREIT Clinical Assistant Professor of MARTIN E. “HAP” STEIN, Jr., Regency Centers Real Estate & Director, REIT A. WILLIAM STEIN, Digital Realty Center Schack Institute of SUSAN SWANEZY, Partner, Hodes Weill & Associates Real Estate STEVEN B. TANGER, Tanger Factory Outlet Centers, Inc. OWEN D. THOMAS, Boston Properties DON WOOD, Federal Realty Investment Trust

SCHACK INSTITUTE OF REAL ESTATE NYU SCHOOL OF PROFESSIONAL STUDIES SCHACK INSTITUTE OF REAL ESTATE

SPONSORSHIP OPPORTUNITIES Through signage, acknowledgements in marketing materials, and exclusive invitations to special conference events, sponsorship of the 24th Annual REIT Symposium offers a high level of visibility with an audience of more than 500 REIT executives, bankers, attorneys, analysts, investors, and members of the academic community. The funds raised through sponsorships support critically important scholarship and academic programs for graduate and undergraduate students at the Schack Institute.

For inquiries about sponsorship opportunities, please contact Sonal Pande at [email protected] or 212-998-6961. To review sponsorship levels, please visit sps.nyu.edu/schack/reitsymposiumsponsorship.

REGISTRATION INQUIRIES For registration inquiries, please contact the conference staff at [email protected].

ABOUT THE NYU SCHOOL OF PROFESSIONAL STUDIES SCHACK INSTITUTE OF REAL ESTATE

The NYU School of Professional Studies (NYUSPS) Schack Institute of Real Estate was founded in 1967 at the initiative of prominent members of the New York City real estate community, who encouraged NYU to establish an academic center that would provide a world-class education for industry professionals. More than 50 years later, the Schack Institute is at the forefront of real estate education and is recognized globally as one of the world’s leading centers of real estate research and pedagogy. Across the Institute’s graduate degree programs—notably the MS in Real Estate, the MS in Construction Management, and the MS in Real Estate Development—as well as a rapidly expanding undergraduate degree program, enrollment has grown to nearly 1,000 full- and part- time students from across the United States and nearly 50 other countries. In addition to its flagship degree programs, thousands of working professionals enroll in the Schack Institute’s executive education, diploma, certificate, and career advancement programs each year.

An anchor of real estate academia’s engagement with industry, the Institute is home to the REIT Center, the Center for the Sustainable Built Environment, and the newly established Urban Lab. In addition, the Institute hosts national industry events, including annual conferences on real estate capital markets and the REIT sector. Under the direction of the Schack Institute’s faculty, ongoing applied research at the Institute spans an exceptional range of issues in real estate development and investment, urban economics, and market structure and regulation. 24TH ANNUAL REIT SYMPOSIUM CONSOLIDATION & GROWTH IN TURBULENT TIMES

Dear Friends of the NYUSPS Schack Institute,

On behalf of the NYU School of Professional Studies (NYUSPS) Schack Institute of Real Estate, we are pleased to invite you to attend the 24th Annual REIT Symposium: Consolidation and Growth in Turbulent Times at The Pierre in New York City on Wednesday, April 3, 2019.

This year’s Symposium will once again bring together the REIT Industry’s most prominent decision-makers for a critical examination of the forces that are shaping the sector at this unprecedented time for the American economy and business environment.

We are delighted to share that our keynote speaker for the 24th Symposium is James Taiclet, chairman, president and CEO of American Tower Corporation. The program also features one-on-one conversations with Sam Zell, chairman of Equity Group Investments, Debra A. Cafaro, chairman and chief executive officer of Ventas, Kenneth Caplan, global co-head of real estate at Blackstone, and Barry S. Sternlicht, chairman of .

These one-on-ones complement an outstanding roster of panel discussions with more than 40 of the sector’s leading CEOs, bankers, lawyers, analysts, and investors. More than 500 industry professionals attend the Symposium each year and are active participants in the day’s discussion and debate.

NYUSPS SCHACK INSTITUTE OF REAL ESTATE

50TH ANNIVERSARY CHAIR CONFERENCE HOSTS

LARRY A. SILVERSTEIN, Chairman, SAM CHANDAN, PhD, FRICS, Larry Silverstein Properties; Founder and & Klara Silverstein Chair in Real Chairman Emeritus, Advisory Estate Development & Investment Board, NYUSPS Schack Institute of and Associate Dean, NYUSPS Real Estate Schack Institute of Real Estate SCOTT L. ROBINSON ’98, Clinical ADVISORY BOARD CHAIR Assistant Professor of Real Estate & JAMES D. KUHN, President, Director, REIT Center Schack Brokerage Services Institute of Real Estate

CONFERENCE CHAIRS ADVISORY BOARD VICE CHAIR ADAM O. EMMERICH, Partner, DAVID Z. HIRSH ’90, BLDG Tech Wachtell, Lipton, Rosen & Katz Ventures ROBIN PANOVKA, Partner, Wachtell, Lipton, Rosen & Katz NYU SCHOOL OF PROFESSIONAL STUDIES

SUSAN GREENBAUM, EdD Interim Dean, NYU School of Professional Studies Symposium Agenda

7:30 AM – 8:10 AM...... BREAKFAST AND ONSITE REGISTRATION

8:15 AM – 8:30 AM ...... WELCOME AND OPENING REMARKS

SAM CHANDAN, PhD, FRICS, Larry & Klara Silverstein Chair in Real Estate Development & Investment and Associate Dean, NYUSPS Schack Institute of Real Estate

TRENDS & PREDICTIONS

ROBIN PANOVKA, Partner, Wachtell, Lipton, Rosen & Katz

8:35 AM – 8:55 AM...... KEYNOTE ADDRESS – The REITech Revolution 2.0

JAMES TAICLET, Chairman, President and Chief Executive Officer, American Tower Corporation PRESENTATION OF 2019 REIT VANGUARD AWARD

9:00 AM – 9:50 AM ...... SETTING COURSE: Long term strategy in turbulent times; how to think long term about interest rates, NAV, arbitrage with the private markets, scale and consolidation. Where have all the privatizations gone?

GUY A. METCALFE, Managing TIMOTHY J. NAUGHTON, Chairman Director and Global Chairman of Real and Chief Executive Officer, Estate, Morgan Stanley [Moderator] AvalonBay Communities, Inc. JAMES B. CONNOR, Chairman and MARTIN E. “HAP” STEIN, JR., Chief Executive Officer, Duke Realty Chairman and Chief Executive Corporation Officer, Regency Centers LESLIE D. HALE, President and Chief Executive Officer, RLJ Lodging OWEN D. THOMAS, Chief Trust Executive Officer, Boston Properties RONALD L. HAVNER, JR., Chairman, Public Storage, PS Business Parks Shurgard Europe

9:55 AM – 10:40 AM...... REITS AS DISRUPTORS: Getting ahead of change and disrupting the disruptors; harnessing prop-tech; adopting business models to take advantage of technological changes

JEFFREY D. HOROWITZ, Global GLENN RUFRANO, Chief Executive Head of Real Estate, Gaming & Officer, VEREIT Lodging Investment Banking, Managing Director, Bank of America A. WILLIAM STEIN, Chief Executive Merrill Lynch [Moderator] Officer, Digital Realty JOHN KILROY, Chairman of the Board and Chief Executive Officer STEVEN B. TANGER, Chief Kilroy Realty Corporation Executive Officer, Tanger Factory Outlet Centers, Inc. JOEL S. MARCUS, Executive Chairman and Founder, Alexandria Real Estate Equities, Inc.

10:45 AM – 11:05 AM...... COFFEE AND NETWORKING BREAK 11:10 AM – 11:35 AM...... BARRY STERNLICHT UNPLUGGED: A WORLDWIDE INVESTING PERSPECTIVE FROM THE CHAIRMAN OF STARWOOD CAPITAL GROUP MICHAEL J. BILERMAN, Managing Director, Head of Real Estate and Lodging Team, Citi [Moderator]

11:40 AM – 12:30 PM...... REIT M&A—GETTING IT RIGHT: Identifying, negotiating, and integrating corporate acquisitions; how to maximize value through M&A MICHAEL J. BILERMAN, Managing MATTHEW J. LUSTIG, Head of Director, Head of Real Estate and Investment Banking, North America; Lodging Team, Citi [Moderator] Head of Real Estate & Lodging, Lazard JON E. BORTZ, Chairman and Chief Executive Officer, Pebblebrook MARK ORDAN, Serial CEO, Quality Hotel Trust Care Properties, Washington Prime, GORDON F. DUGAN, Former CEO, Sunrise Senior Living, The Mills Gramercy Property Trust

12:35 PM – 1:50 PM...... CONFERENCE LUNCHEON ZELL’S WORLD A CONVERSATION WITH SAM ZELL, Chairman, Equity Group Investments

ADAM O. EMMERICH, Partner, Wachtell, Lipton, Rosen & Katz [Moderator]

1:55 PM – 2:45 PM...... INVESTMENT OPPORTUNITIES: Finding hidden treasure in real estate and REITs

STUART BARR, Partner, Fried, E. NELSON MILLS, Chief Executive Frank, Harris, Shriver & Jacobson Officer, Columbia Property Trust LLP [Moderator] BILLY BUTCHER, Member and COO MARGUERITE NADER, President of KKR Real Estate Group and Chief Executive Officer, Equity LifeStyle Properties, Inc. ANDY JONAS, Managing Director, SHERRY L. REXROAD, Managing Goldman Sachs & Co. LLC Director, BlackRock

2:50 PM – 3:15 PM...... REIT AND PRIVATE EQUITY TITANS COMPARING NOTES

A CONVERSATION BETWEEN SAM CHANDAN, PhD, FRICS, Larry DEBRA A. CAFARO, Chairman and & Klara Silverstein Chair in Real Chief Executive Officer, Ventas Estate Development & Investment and and Associate Dean, NYUSPS KENNETH CAPLAN, Global Co- Schack Institute of Real Estate [Moderator] Head of Real Estate, Blackstone

3:20 PM – 4:10 PM...... IS THE FUTURE MIXED? A deep dive on mixed-use projects and tech-driven redevelopments; are mixed-use or tech REITs/funds the next mega-trend THOMAS A. GRIER, Global Head of MARK J. PARRELL, President and Real Estate, Gaming & Lodging Chief Executive Officer, Equity Investment Banking, J.P. Morgan Residential Securities [Moderator] SCOTT H. RECHLER ’90, Chairman CONOR C. FLYNN, Chief Executive and Chief Executive Officer, RXR Officer, Kimco Realty Corporation Realty

JEFFREY S. OLSON, Chairman and DON WOOD, President and Chief Chief Executive Officer, Urban Edge Executive Officer, Federal Realty Properties Investment Trust 4:15 PM – 5:00 PM ...... CONFERENCE RECEPTION/LEADERSHIP ROUNDTABLE INTRODUCTION BONNIE S. GOTTLIEB, Senior Vice President, Nareit NAREIT’S DIVIDENDS THROUGH DIVERSITY INITIATIVE

Women in the REIT Boardroom (Regency Room) Nearly 50 women were added to REIT boards in 2018, representing more than half of all REIT board appointments last year. During this special session, women serving on REIT boards will discuss how the boardroom is changing and how it is impacting decision-making in the executive suite. Pre-registration required.

GEMMA BURGESS, President DANA HAMILTON, Senior Managing US Search, Ferguson Partners Ltd. Director and Head of Real Estate, [Moderator] Pretium JANA COHEN BARBE, Partner ELIZABETH I. HOLLAND, Chief Dentons Executive Officer and General Counsel, Abbell Associates, LLC Z. JAMIE BEHAR, Director, Shurgard SUSAN SWANEZY, Partner, Hodes Self Storage SA Weill & Associates

GRETA GUGGENHEIM, Chief Executive Officer, President and Partner, TPG Real Estate Finance Trust

General Information

CONFERENCE FEE The Conference fee, including breakfast, the luncheon, and all materials, is $825 for each participant. No discounts will be given on the day of the event. Checks will only be accepted for onsite registrations on the day of the event.

ELECTRONIC REGISTRATION AND CONFIRMATION An email registration confirmation will be sent to the email address provided to NYU at the time of registration. Your confirmation will be from NYUSPS Schack Institute of Real Estate. If confirmation is not received within two business days, please contact [email protected] for a receipt.

TRANSFER OF REGISTRATION POLICY A transfer of registration will be accepted if written notice is received by 5:00 PM Eastern Time on Thursday, February 28, 2019. Submit the request by email to the Schack conference staff [email protected] and indicate registrant name, organization, contact information and registration confirmation number. Transfer requests received after Thursday, February 28, 2019 will not be accepted.

DIETARY REQUIREMENTS OR ACCESSIBILITY NEEDS Participants who have dietary requirements or accessibility needs are advised to email the contact the Schack conference staff [email protected] by Wednesday, March 27, 2019 indicating their particular requirement(s). Dietary requirements must be indicated by this deadline to receive a special meal for the conference luncheon.

PARTICIPANT LIST Participant lists derived from information provided on the registration form will be distributed to conference attendees. A list of participating companies may be included in distributions to prospective conference participants. Participants must register by Monday, March 25, 2019 to be included in the program booklet.

HOTEL RESERVATIONS The 24th Annual REIT Symposium will be held at The Pierre, 2 East 61st Street New York, NY 10065. For hotel reservations, call 212-838-8000. Please direct any questions regarding reservation changes or cancellations to The Pierre. Registration Form

TO REGISTER By Internet: Register online with your credit card at sps.nyu.edu/reit. Your email address is your registration ID; confirmations are sent by email.

By Mail: Fill out the registration form below, and return it with a check payable to New York University. Mail to: New York University, 11 West 42nd Street, Room 522, New York, NY 10036.

Onsite Registration: Please bring a check for payment. No credit cards will be accepted for onsite registration.

REGISTRATION FORM Mail this form with your check. You may photocopy this form for multiple registrants. Please submit a separate form for each registrant. Please print clearly.

Please register me for the 24th Annual Payment is enclosed. REIT Symposium, Consolidation and Growth in Turbulent Times Fee: $825.00.

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*An email address is required for registration confirmation.

For registration inquiries, please contact the conference staff [email protected] . 24TH ANNUAL

NYU School of Professional Studies REIT SYMPOSIUM Schack Institute of Real Estate 11 West 42nd Street, Room 508 CONSOLIDATION & GROWTH New York, NY 10036 IN TURBULENT TIMES

WEDNESDAY, APRIL 3, 2019 7:30 AM TO 5:00 PM THE PIERRE • NEW YORK CITY

For more information and to register,

SCHACK INSTITUTE OF REAL ESTATE visit: sps.nyu.edu/reit P819-0114 2/19