Opportunities and Challenges for the Central Florida Real Estate Market and Economy
Rising rates and economic optimism are driving the market; find out how these forces will drive real estate values, regulation and demand for commercial and residential property in Central Florida. Hear from leading experts on what will propel Central Florida in this new, dynamic environment.
ON-SITE REGISTRATION – May 3 – $200
10:00 am – 4:00 pm
THE BALLROOM AT CHURCH STREET
225 S. Garland Ave., Orlando, FL 32801
David A. Siegel
Founder, President and Chief Executive Officer
As a pioneer in the tourism industry, David Siegel founded Central Florida Investments in 1970 and has since shaped it into the largest privately owned company in Central Florida. David’s vast holdings include timeshare resorts and wholeownership condominiums, real estate, construction, hotel and apartment management, travel services, telecommunications, insurance, retail and much more. Success struck David in the 1970s when he purchased a prime piece of real estate that he later developed into the largest single-site timeshare development in the world – Westgate Vacation Villas. David has been honored as the “Entrepreneur of the Year” for construction and real estate in Central Florida and finished second in the “Entrepreneur of the Year” national competition.
David holds an honorary doctorate from Florida A&M University for his work in community service. David majored in marketing and management at the University of Miami. He has been a Florida registered real estate broker since 1971.
As Chairman of the David A. Siegel Society (The Westgate Resorts Foundation’s highest level of contributors), David has earned recognition as an outstanding and committed member of the Central Florida business community. David sits on the board of many civic organizations. He has also earned the National Community Service Award from ARDA, the national timeshare association and is a US Air Force veteran.
Will McIntosh, Ph.D.
Global Head of Research USAA Real Estate Company
Will McIntosh is Global Head of Research for USAA Real Estate Company and is responsible for helping develop commercial real estate investment strategy and managing in-house research with the objective of informing and enhancing the real estate investment process.
Will comes to USAA Real Estate with more than 25 years of experience in real estate. He was previously Head of Global Research for the Abu Dhabi Investment Authority’s (ADIA’s) Real Estate Department where he was responsible for helping develop ADIA’s global real estate investment strategy and building and leading a real estate research platform. Prior to joining ADIA, Will served as the Chief Investment Officer of Fund Evaluation Group (FEG), and was responsible for investment strategy and manager analysis.
Prior to joining FEG, Will was Professor of Finance and Dean of the College of Business at the University of Cincinnati, responsible for overseeing the education of approximately 3,200 undergraduate and graduate students, a faculty and staff of 150, and managing a budget of approximately $12 million.
Over the years, Will has also served in leadership positions with such notable firms as ING Real Estate, AIG Global Real Estate Investment Corp., Prudential Real Estate Investors (PREI) International and MIG Realty Advisors.
Additionally, Will has served as President of the Real Estate Research Institute (RERI) and on the Board of Directors of the National Council of Real Estate Investment Fiduciaries (NCREIF) and the International Real Estate Society (IRES). He has served on the Investor Council of the National Association of Real Estate Investment Trusts (NAREIT) and on the Advisory Boards of several university real estate centers. Will is a past President of the American Real Estate Society and is a Fellow of the Homer Hoyt Institute. He has served as a Co-Editor of the Journal of Real Estate Portfolio Management and has published numerous articles in leading real estate professional and academic journals.
Will received his Ph.D. in Finance and Real Estate from the University of North Texas (1987), his MBA with a concentration in Real Estate from Eastern Kentucky University (1979), and his BS in Business Education from the same institution (1977). He is a graduate of the School of Mortgage Banking of the Mortgage Bankers Association of America and served as a Faculty Fellow. He is also a graduate of the Management and Leadership in Education Program, Harvard Institute for Higher Education at the Harvard Graduate School of Education, May 2006.
Wendy Mann, CAE
Wendy Mann is CEO of CREW Network and president of the CREW Network Foundation. As CEO of the 10,000-member global association, Wendy is committed to influencing the success of the commercial real estate industry by advancing the achievements of women. As president of CREW Network’s Foundation, Wendy leads the only foundation dedicated solely to supporting women’s careers in commercial real estate.
With a career spanning nearly 30 years in association management, Wendy has worked in a variety of operational areas including strategic planning, board relations, foundations, fundraising, communications, product development, meetings, membership and chapter relations, educational conferences, volunteer and committee management, and government relations.
Wendy came to CREW Network from NAIOP, the Commercial Real Estate Development Association, where she served as senior vice president and #2 to the CEO.
She began her career at the U.S. Chamber of Commerce and has worked for a variety of organizations including both professional and trade associations in the past including NTCA, The Rural Broadband Association; the Health Industry Distributors Association; the Intelligent Transportation Society of America; and the Greater Washington Society of Association Executives.
Wendy is an instructor for the American Society of Association Executives (ASAE), teaching association management courses and conference sessions, and has authored articles and contributed to publications focused on association management over the course of her career. She most recently served on the Board of Directors for the Association for Media and Publishing.
Wendy holds a bachelor degree in communications from St. Bonaventure University and earned her Certified Association Executive (CAE) designation in 1991.
Rick Pullum, Market President, Central Florida
Rick Pullum serves as Executive Vice President and Central Florida Market President for IBERIABANK, a division of IBERIABANK Corporation (NASDAQ: IBKC). He is responsible for overseeing the Bank’s commercial, retail and private banking activities in Orange, Seminole and Citrus counties. The Central Florida market is the largest of eight key regions throughout the state for IBERIABANK with nearly $1.4 billion in deposits, nearly $1.1 billion in loans, more than 100 associates, and 12 branch locations. (as of 12.31.16)
Rick’s banking career spans more than 15 years. He got his start as a Credit Analyst with Colonial Bank and quickly moved into a commercial lending role. He went on to oversee the commercial real estate lending group for Colonial Bank in Central Florida. In 2008, he was tapped to join the de novo bank, Old Florida
Bank, as a Senior Commercial Banker. Three short years later, he was promoted to EVP, Commercial Banking Officer to lead the bank’s commercial banking division where he played an integral role in the bank’s asset and liability management process. While many community banks were shrinking or closing
their doors, Old Florida was a success. The company started with $100 million in assets in 2008 and grew to $1.4 billion in assets by 2015. Rick played an instrumental role in the bank’s stellar credit quality and growth. Non-Performing Assets (NPAs) as a percent of Total Assets was a remarkably low
at 1.21% when Old Florida sold to IBERIABANK in March of 2015.
Rick is very active in the local community. He currently serves as a Board Member for Orlando, Inc. and as a member of the Orange County Tourist Council. In addition, he volunteers as Board President for Blankner School, serves on the finance committee for iDignity and he was a founding member of the Downtown South Main Street District. In 2016, he was recognized by the Orlando Business Journal as a 40 Under 40 honoree.
Mark Hayes has been a strategic consultant for the Tavistock Group for more than 15 years on initiatives in real estate and education. In real estate, Mark has been licensed since 1985, is a Certified Commercial Investment Member and has worked in multiple sectors including residential, property management, commercial, land and luxury.
In 2006, Mark was hired by the University of Central Florida to lead a team to value the economic impact of a Medical School and was instrumental in helping UCF and Lake Nona
Development Company win the $300 million funding which led to the UCF College of Medicine and launch of the Lake Nona Life Sciences Cluster, now known as Medical City. Mark worked as a consultant to the Lake Nona Development Company on several Medical City deals, including Nemours Children’s Hospital, Valencia College, Orlando VA Medical Center
and many other land deals.
From 2010 through 2015, Mark was President and Broker for the real estate company of Isleworth, the region’s highest priced luxury golf community. At Isleworth, Mark was featured nationally on FOX News for his innovative approach to selling real estate and closed over 70 transactions including the region’s highest priced home in more than 10 years. From 2013 through 2015, Mark also served as the President of Stockworth Realty Group, a company founded by the Tavistock Group. Mark led the Stockworth team from $46 million to over $91 million in sales, and in 2016 alone, Mark brokered over $150 million in sales with 250 closings. From 2011 to 2016, Mark closed over $550 million in sales from over 650 closings.
Mark received his MBA from Rollins and his BA from the University of Central Florida. Mark and Jodi Hayes have two daughters and have lived in Orlando for over 30 years. Mark enjoys guitars, cycling, fountain pens and spending time with his family.
Thad Seymour, Jr. Ph.D. Vice Provost, UCF Downtown
Following nearly three decades as a business leader, Thad recently returned to the academic setting where he started his career, becoming Vice Provost for UCF Downtown in June 2016. With a core team of UCF and community leaders he will help bring the new 7,700 student campus to life as an innovative model of 21st century higher education set in an urban core and designed to accelerate economic, social and cultural impact for the city and the region. Immediately prior to his current role Thad led the development of UCF’s Collective Impact Strategic Plan that was unanimously approved by the board of trustees in May 2016.
Thad’s business career included senior executive roles with large healthcare and technology companies as well as multiple early stage businesses. Most recently Thad was senior vice president of Tavistock Development Company where for seven years he led strategy and business development for Lake Nona Medical City, helping to bring over $3 billion in health and life sciences investment to that fast-growing innovation cluster. Thad also led the recruitment of the United States Tennis Association to Orlando to build the nation’s largest tennis complex, and founded and served as president of the Lake Nona Institute which hosts the widely acclaimed annual Lake Nona Impact Forum.
Thad served as a board member of BioFlorida and was the 2015 recipient of the BioFlorida Leadership Award. He co-chaired bioOrlando, and is immediate past chair of the Florida Research Consortium. Within the Orlando community Thad has served on the board of VisitOrlando, the president’s advisory council of Valencia College, and is immediate past chair of Shepherd’s Hope, which provides free medical care to over 20,000 uninsured patients annually in five clinics throughout Central Florida. Thad recently joined the executive committee of the newly formed Orlando Economic Partnership.
Thad holds a BA from Dartmouth College, an MA and Ph.D. from the University of Wisconsin, and an MBA from the Kellogg School of Management at Northwestern University. He and his wife, Katie, have three grown children.
K.C. Conway, MAI, CRE
K.C. Conway is a Sr. VP – Credit Risk Management, with responsibilities for REVAL (Real Estate Valuation and Environmental Services) and Market Intelligence. He has 30 years experience as an appraiser, underwriter, lender, credit officer and economist. Noteworthy recent roles prior to joining SunTrust Bank include: i) Chief Economist for Colliers | U.S. (2010-2014); ii) Commercial Real Estate Risk Specialty Officer – NY Federal Reserve Bank (2009-2010); iii) CRE Subject Matter Expert – Atlanta FED (2005-2009); iv) and Director of Underwriting – legacy SouthTrust Bank (1995-2005).
Mr. Conway is also a frequent lecturer and speaker on CRE markets and valuation matters for government agencies, financial institutions, and private industry groups. Over the past 5 years he has addressed approximately 350 real estate industry conferences, including the Appraisal Institute, American Property Tax Council, Counselors of Real Estate, FDIC, FFIEC, IPT, NAHB, National Association of Realtors, NAIOP, SIOR, Society of CPAs, and ULI.
Mike Moser is CEO of Starwood Land Ventures, a Starwood Capital Group affiliated real estate investment firm that specializes in residential land development. In this role, Mr. Moser is responsible for managing the consolidated operations of Starwood Land Ventures. He also oversees all acquisition and asset management activities in the United States. Since 2007, Mr. Moser has led the firm in the acquisition of 18,000 lots with an acquisition price of
Prior to joining Starwood Land Ventures in 2007, Mr. Moser spent nearly 13 years at Taylor Woodrow (“Taylor Morrison”), a U.K.-based public homebuilder, where he served as Division President of the U.S. Tower Division and Southeast homebuilding operations. Mr. Moser received B.S. degree in business administration from Midwestern State Universityin Wichita Falls, TX. He holds Florida Broker’s and Community Association Manager’s licenses and is a Member of the PGA of America.
Gloria A. Caulfield, Vice President of Strategic Alliances
Executive Director, Health and Wellness, Lake Nona Institute
Gloria Caulfield serves in two leadership roles, as Vice President of Strategic Alliances for Lake Nona as well as Executive Director for health and wellness strategy and planning for the Institute. Gloria is passionate about identifying partners who are skillful at collaboration and have the desire to innovate solutions that have the potential to move the needle on novel approaches to community health and wellness.
In her role, she is responsible for managing corporate partnerships and identifying intersections with stake holders in the Lake Nona community that advance research, technology and new solutions for healthy lifestyles and quality of life. Gloria is the chief architect for the Lake Nona Impact Forum, a health and wellness thought leadership gathering and signature event for the Tavistock Group.
Prior to joining Lake Nona, Gloria worked as an executive for a national consulting group with the mission of identifying and quantifying new revenue streams for integrated healthcare systems across the country. In addition, she had an extensive career with Florida Hospital, one of the largest admitting hospitals in the country. A key role at the healthcare system included serving as the Executive Director for Community Development where Gloria provided strategic direction to community health initiatives as well as employer relations in Central Florida.
Gloria is presently on the Executive Leadership Council for the American Heart Association. Recently, she has also provided leadership support to The American Heart Association, co-chaired the philanthropy committee for Hospice of the Comforter and membership in the University of Central Florida Town and Gown. She is active in fund raising and increasing awareness on critical health issues.
Gloria has a Bachelor’s Degree in Business Administration and is a member of the American College of Healthcare Executives as well as the Society for Healthcare Strategy and Market Development.
Barry A.N. Bloom, Ph.D.
Barry A.N. Bloom, Ph.D. is Executive Vice President and Chief Operating Officer of Xenia Hotels & Resorts, Inc., a NYSE-listed real estate investment trust. In this role, Mr. Bloom is responsible for direct oversight of the asset management and project management functions as well as a variety of strategic and operational corporate functions of Xenia. From July 2011 to June 2013, Mr. Bloom served as an Associate Professor of the Practice in the School of Hospitality Administration at Boston University and from July 2010 to June 2011, Mr. Bloom served as an Instructor in the School of Hospitality Leadership at DePaul University.
From 2008 to 2011, Mr. Bloom co-founded and was a Principal of Abacus Lodging Investors LLC, a hotel investment and advisory firm. Prior to pursuing an academic career, Mr. Bloom worked for a variety of leading hotel investment firms, most recently as Executive Vice President of Portfolio Management & Administration with CNL Hotels & Resorts, Inc. from 2003 to 2007, where he was responsible for oversight of the company’s $6.6 billion portfolio. Prior to CNL, he served as Vice President – Investment Management for Hyatt Hotels Corporation from 2000 to 2003. In addition, Mr. Bloom has worked for Tishman Hotel & Realty, VMS Realty Partners, and Pannell Kerr Forster (now CBRE Hotels). Mr. Bloom received his Bachelor of Science degree in Hotel and Restaurant Management as well as a Master of Business Administration degree from Cornell University and a Doctor of Philosophy degree in Hospitality Management from Iowa State University.
Brad Thomas has over 25 years of experience in commercial real estate where he has formulated a deep understanding of development, finance, and securities analysis. His experience is rooted in wealth creation as he spent almost two decades as a developer assisting many national retailers with expansion while simultaneously learning the real estate trade literally from the ground up.
Today Thomas researches and writes on a variety of real estate based income alternatives including publicly-traded Real Estate Investment Trusts and Real Estate Operating Companies. Given his background in sourcing and originating income producing assets, Thomas has gained broad experience and understanding in capital markets and evaluating the most intelligent companies – with a keen eye on “distinguishing between an investment operation and speculative one.”
Thomas currently advises for high net worth and institutional investors and he writes weekly for Forbes and Seeking Alpha where he maintains research on many publicly-listed REITs. In addition, Thomas is the editor of Forbes Real Estate Investor, a monthly subscription-based newsletter, and senior analyst for iREIT Forbes.
Thomas has been featured in Kiplinger’s, Barron’s, US News & World Report, Money, NPR, Institutional Investor, GlobeStreet, Fox & Friends, Fox Business, CNN, and Newsmax. He is ranked as the #1 analyst on Seeking Alpha and he recently completed two books: The Intelligent REIT Investor and The Trump Factor: Unlocking the Secrets Behind the Trump Empire.
Thomas received a Bachelor of Science degree in Business/Economics from Presbyterian College where he played basketball. He is also the host of a radio show called The Ground Up on 94.5 The Answer.
The Honorable Buddy Dyer
Mayor, City of Orlando
Since his first day in office, Mayor Dyer has strived to increase cooperation and partnership between Central Florida’s many governments, its business and civic communities and its residents. The result of this effort is a new era of collaboration that has paved the way for a series of remarkable, transformational accomplishments for greater Orlando in a very short period of time and has set the city on course for a more prosperous future.
That future includes a new University of Central Florida-Valencia College campus in Downtown Orlando that will anchor the Creative Village innovation cluster and benefit the entire region, bringing more than 7,500 students and a more than $200 million economic impact each year. The campus will also help young people, including those in the City’s successful youth programs, connect education to opportunity.
The accomplishments also include the opening of three community venues – the Amway Center, the Dr. Phillips Center for the Performing Arts and Camping World Stadium. The venues, which have brought world-class events to Central Florida, even more international visitors to the region and enhanced the quality of life for residents, were part of Mayor Dyer’s engineering of one of the most remarkable downtown resurgences of anywhere in the country.
Mayor Dyer has served as one of the region’s leading voices on ending homelessness, guiding the collaboration among jurisdictions, service providers and community groups. Veteran homelessness has been essentially eliminated and a 2016 point-in-time census identified a one-year 23.6 percent decrease in the number of homeless individuals in the region.
Mayor Dyer has shaped Orlando into a desirable place to live, work, learn and play. Orlando added more jobs than any other metropolitan area in the country in 2015 and Forbes ranked Orlando No. 2 nationally as the best place to buy real estate, No. 3 in job growth and No. 4 as the happiest place to work.
Mayor Dyer is leading the efforts to diversify Central Florida’s economy and create a new breed of high-tech, high-wage careers for residents in cutting-edge industries such as digital media, life sciences and biotechnology, modeling, simulation and training and aviation and aerospace.
Regional Managing Partner
Franklin Street of Orlando and Jacksonville
With more than 25 years in the commercial real estate industry, Yvonne Baker has an extensive background in agency leasing for office, industrial, retail and multifamily assets with experience in development, sales, property management, project management, brokerage operations, commercial real estate lending, commercial credit analysis, training and development and management.
As Regional Managing Partner, Ms. Baker is responsible for the direction of both the Orlando and the Jacksonville offices and employees, while also supporting business development efforts across the markets.
Prior to Franklin Street, Ms. Baker served as Senior Director for Cushman & Wakefield and Vice President with JLL where she oversaw the local agency leasing efforts, in addition to expanding their growth throughout Central Florida. Previously, she worked for Highwoods Properties for 14 years.
Ms. Baker has generated a lease volume of more than $350 million with over 4.5 million square feet of executed leases. She has worked with institutional and regional clients such as Equity Office Properties, Steelbridge Capital, Starwood Capital Group, Invesco Real Estate, Crocker Partners and Parmenter Realty Partners.
Active in the community, Ms. Baker has received several recognitions including being presented the University of Central Florida’s Notable Knight Award at the 2017 UCF College of Business annual Hall of Fame banquet, a CoStar Power Broker Award from 2011 to 2014, Orlando Business Journal’s 2014 Women Who Mean Business and NAIOP’s President Award in 2015. She is an active member of NAIOP Central Florida, serving as a Board Member and Vice President, Commercial Real Estate Women (CREW), where she served as a former President and on the UCF Real Estate Council.
Ms. Baker is a licensed real estate broker in the state of Florida. She earned her bachelor’s degree in Finance and master’s degree in Real Estate from UCF.
Fred R. Kittinger, Jr.
Fred Kittinger is the Senior Associate Vice President of University Relations and Director of State and Local Government Affairs at the University of Central Florida.
Fred holds a Bachelors of Arts with honors in Criminal Justice from the University of Central Florida, and a Master of Science in Public Administration from Florida State University.
Before assuming his present role at UCF in 2003, Fred was Chief of Staff to Orlando Mayor Glenda Hood, serving in the Mayor’s office for 8 years. Prior to his city service Fred was Vice President for Governmental Affairs & Executive Director of the Small Business Chamber for the Greater Orlando Chamber of Commerce. He began his career as a Legislative Aide to State Senator George Stuart, Jr.
Fred is active in various local civic organizations. In 2014 Orlando Mayor Buddy Dyer appointed Fred as Chair of “Project DTO”, a comprehensive visioning process for Downtown Orlando’s future evolution. He is currently a Board member of Junior Achievement, Junior Achievement Academy, Coalition for the Homeless, Orlando Inc., Orlando/Orange County Compact, Big Brothers, Big Sisters, After School All Stars, and the Central Florida Fairgrounds. Fred is an elder and adult Sunday school teacher at Winter Park Presbyterian Church. He is an alumnus of Leadership Florida and Leadership Orlando, and past president UCF Alumni Association.
Fred has been married to Sandra B. Kittinger for over 30 years, has one daughter Alyssa, and is a proud grandfather.