White Ruffin Byron Center for Real Estate 2024 Conference

On Friday, Nov. 8, 2024, the White Ruffin Byron Center for Real Estate hosted its annual conference, themed “Reimagining Commercial Real Estate: Technology, Design, and Markets,” at the Darden School of Business. The daylong event brought in nearly 500 UVA alums, faculty, students, and industry professionals. The Center kicked off the event with a welcome reception Thursday evening, held at the Kimpton Forum Hotel, providing attendees the opportunity to mingle and network before Friday’s packed schedule.

Welcome and Update, Presentation of Alumni Award to Dave Howerton
The conference kicked off Friday morning in the Abbott Center Auditorium with a warm welcome and update from Keven Lindemann, Executive Director of the Center. His update included information about the Center’s activities over the past year supporting current students, faculty, and alumni. This support is demonstrated through the many research and classroom grants to faculty across Grounds, experiential opportunities presented to students engaging with the Center, and regular networking receptions for our outstanding alumni. Recent graduates Demond Morris (McIntire ’24) and Christie Carpenter Ramírez de Arellano (Darden ’24) were honored as the 2024 George A. Overstreet Jr. Outstanding Student Award recipients.

Following the update, Robert Byron, the Chairman, Co-CEO, and Co-Founder of Blue Vista Capital Management and Vice-Chair for Alumni & Industry Engagement for the Center, presented the Robert G. Byron Distinguished Alumni Award to Hart Howerton Chairman Dave Howerton (Architecture, ‘74), recognized for his extraordinary leadership within the Center and commitment to furthering its mission.

Innovating Across Grounds: Center-Sponsored Research and Educational Initiatives
The Center’s Interim Academic Director, Mike Gallmeyer, introduced three faculty members from across Grounds who have been awarded grants by the Center for research and classroom support. These faculty briefly presented their research topics and educational initiatives.

• Sarah Turner, Professor of Economics & Education, Souder Family Professor, Department of Economics – ‘From Pause to Purchase: How Student Loan Policies Impact Real Estate’
• Mona El Khafif, Associate Professor, Architecture and Urban + Environmental Planning; Graduate Urban Design Program Director, School of Architecture – ‘Hyper REAL’
• Devin Harris, Professor & Chair, Department of Civil and Environmental Engineering – ‘Digital Twin of UVA Grounds through Visual Narratives and Virtual Reality’

A View from the Top
Following these speakers, attendees pivoted to “A View from the Top,” a morning keynote panel featuring Colin Connolly, President & CEO, Cousins Properties; Ward Fitzgerald, CEO, ExCorde Capital; James M. Taylor, CEO & President, Brixmor Property Group; and moderated by Felicia Hendrix, CFO, PENN Entertainment. These accomplished leaders gave attendees a look into how successful real estate companies navigate challenging real estate and capital markets and how technology has changed the landscape.

Concurrent Breakout Sessions
The conference featured two sets of four concurrent breakout sessions, one set before lunch and one after lunch, where attendees could focus on a specific issue facing the real estate industry.

• Adaptive Reuse: The Future of Downtowns 2.0: Moderated by Mona El Khafif, with featured speakers William Bate, Managing Director & Partner, Boston Consulting Group; Pete Otteni, EVP, Co-Head of the Washington, DC Region, BXP; and Sara Willard, Founding Principal, Workable City Development and Green Development Fund. The three speakers discussed how underutilized space in office buildings can impact urban areas, the future of these spaces, and how adaptive reuse could be part of the solution.
• Private Equity: Capital Raising and Capital Deployment: Moderated by Zachary Crowe, Managing Director, The Carlyle Group, with featured speakers Kari Heavenrich, Vice President, Rockpoint; Teddy Kaplan, Managing Director, New Mountain Capital; and Joe Link, Principal, Blackstone. The three discussed how their active private equity firms are finding success raising capital in challenging environments and deploying it effectively.
• The Evolution of the PropTech Landscape: Perspectives from Investors and Founders: Moderated by Zander Geronimos, Head of North America, PRODA.ai, with featured speakers Tyler Carrico, Managing Partner & Co-Founder, Derive Ventures; Jen Finn, Co-Founder & CEO, HIO; and Sara Shank, CEO & Founder, Seventh Street Capital. The panel discussed technology’s impact on the CRE landscape, discussing where they see current and future opportunities in the sector.
• Social Sustainability and Real Estate: Moderated by Matthew J. Trowbridge, M.D., M.P.H., Associate Professor of Emergency Medicine and Public Health & Research Faculty, Department of Emergency Medicine, UVA, with featured speakers Lindsay Hall, Global Head of Thought Leadership, S&P Global Sustainable1 & Host of the ESG Insider Podcast, and Chris Pyke, Chief Innovation Officer, GRESB. This panel discussed the positive and negative roles the built environment can play in the health of communities.
• Affordable Housing: Case Studies from Virginia: Moderated by Fred Missel, Director of Design & Development, UVA Foundation, with featured speakers Jessie Barter, Founder, Charger Ventures; Jovan Burton, Executive Director, Partnership for Housing Affordability; and Pace Lochte, Assistant Vice President for Economic Development, UVA. They discussed strategies to address the affordable housing shortage in Virginia, emphasizing creative problem-solving.
• Brokerage: Observations and Predictions from the Front Lines: Moderated by Scott Adams, Senior Vice President, Investor Relations, Harbor Group International LLC, with featured speakers Steve Soutendijk, Executive Managing Director, Cushman & Wakefield; Joseph Wallace, President, Advisory Northern California, CBRE; and Meghan Ward, Global Account Executive, JLL. These panelists explained different types of markets and property sectors, as well as the factors that drive demand in leasing.
• REITs: Leadership, the Role of Boards, and Succession Planning: Moderated by Bill Ferguson, Co-Chairman & Chief Executive Officer, Ferguson Partners, with featured speakers Robert (BJ) Glenn III, Managing Director, CenterSquare Investment Management, LLC; Nick Joseph, Global Head of Real Estate Research Super Sector and US Real Estate and Lodging Team, Citi Research, and Sheila McGrath, Independent Director, Alexandria Real Estate Equities and Granite Point Mortgage Trust. The panel discussed the outlook surrounding the US REIT market, given the recent rate cut. They gave key insights into the role that management and boards play at successful companies.
• Digital Infrastructure: The Growing Role of Data Centers in Real Estate: Moderated by Thomas (TJ) Hofheimer, Managing Director, National Real Estate Advisors, with featured speakers Damien McCants, Advanced Technology Business Department, DPR Construction, and Rob Walters, Managing Director, Data Center & Infrastructure Group, Eastdil Secured. The panel featured the seemingly limitless demand for data centers as well as potential limitations for growth, power, water, zoning, capital, expertise, and more.

Exploring Careers in Real Estate Student Luncheon
While conference attendees attended a networking luncheon, a lunch session provided current students an opportunity to learn more about careers in real estate. During the panel discussion, featuring alums Christopher Dale, Senior Director, Capital Markets, JLL; Morgan Lineberry, Associate, Research & Strategy, Greystar; Erik Smith, Director of Development, Elmington Capital Group; and Jackson Stanley, Investment Analyst, PGIM Real Estate, and moderated by Ashley Mays, Chief of Place and Real Estate, Newark Alliance, students gained knowledge of various real estate disciplines, including development, leasing, and capital markets. Additionally, a partnership between The White Ruffin Byron Center for Real Estate and McIntire’s Commerce Career Services provided students with networking opportunities and informed them of UVA’s resources regarding real estate careers. Additionally, students had an opportunity to learn about SEO Career, a nonprofit focused on recruiting and preparing high-achieving undergraduates for summer internships in corporate America, including Wall Street, commercial real estate, and technology.

Fireside Chat with Tyler Henritze and Krissy Gathright
The conference concluded with a Fireside Chat featuring Tyler Henritze, Founder and Managing Partner at Town Lane, and moderated by Krissy Gathright, Board Member, Apple Hospitality REIT. Henritze explained how UVA readied him for future career success and then discussed how his work at Blackstone as Head of Strategic Investments and Head of Real Estate Acquisitions Americas equipped him with valuable insights into real estate investment, eventually leading to his founding of Town Lane.

Special thanks to conference sponsors Greystar, National Real Estate Advisors, J. Small Investments, Colliers, and MRP Industrial for their support in the event’s success.