Real Estate Group Sponsors REIT Symposium
EisnerAmper’s Real Estate Services Group was a sponsor of IMN’s New York Non-Traded REIT Industry Symposium which occurred on June 21-22. Professionals from our various offices were present including Ken Weissenberg, Gregory Kubikowski, Michael Morris, and Harry Dublinsky.
Ken moderated a panel titled “Forming, Executing & Communicating Distribution/Dividend Policy in the Current Environment” which featured speakers including Lesley H. Solomon, (Partner, Alston & Bird); Paul E. Adornato (Managing Director, BMO Capital Markets); Mark Addy (COO, Philips Edison-Arc Shopping Center REIT); Martel Day (President, Independence Realty Securities); and Tim Toole (President, Northstar Realty Securities). The lively discussion included expert insights from the panelists who were spurred by thoughtful questions from an engaged audience. While moderating, Ken also provided his opinions and views on REIT dividend policies and associated strategies for REITs in the current economic climate.
Greg participated in “Anatomy of a Listing for Non-Traded REITs,” in which the panelists discussed the business considerations and market environment in the non-traded REIT industry, the legal and accounting considerations for an execution of a listing or IPO, impact on stock valuation, trading and liquidity of a listing or IPO, and the economics of internalization for non-traded REIT’s. Greg provided specific insights from a financial standpoint regarding the importance of how companies need to be prepared for a listing or IPO, such as ensuring robust process and procedures are in place, and qualified talent exists to support a public entity. “The ramifications of a public organization not building or having an appropriate infrastructure can be substantial,” he advised
Following the first day of the conference, EisnerAmper hosted a dinner for attendees featuring former Governor David Paterson as a keynote speaker.