Boston
Opportunities in a Down Market
It’s Not Your Father’s Real Estate Cycle!
Thursday, May 14, 2009
4:00 PM - 7:00 PM
Networking Reception - 6:00 PM to 7:00 PM
The Boston Harbor Hotel
70 Rowes Wharf
Boston, MA 02110
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| Patrick E. Clancy President & CEO The Community Builders, Inc. |
Michael H. Pascavage |
Brian Kavoogian |
Join us as three real estate leaders discuss how they are attempting to identify acquisition, development and financing opportunities in a challenging economic environment. What are the similarities and differences between today’s economic conditions and the experiences of the late 80’s and early 90’s? Can good assets be acquired at costs sufficiently enough below replacement costs to offset current financing and marketing risks? Are lenders getting ready to sell distressed debt or real estate assets at realistic prices? What impact will HUD Secretary Shaun Donovan have in adjusting, creating and funding housing programs? Our diverse panel will address these questions and others.
Mike Pascavage, former chair of Cummings Properties where he delivered over 6 million square feet of commercial and residential property over his 19-year tenure, is responsible for launching the Boston component of Skanska’s U. S. Commercial Development business. As Executive Vice President and Regional Director, Mike is focusing Skanska’s design/build efforts on Class A commercial opportunities and institutional, educational and governmental projects.
Brian Kavoogian is the founder and President of Charles River Realty Investors, a private equity real estate firm focused on making value-added and opportunistic investments on the East Coast. Charles River is currently investing its $500 million Fund I on behalf of its clients. Fund I investments involve the creation of value at the property level, including re-leasing, repositioning, redevelopment/change of use, development, obtaining entitlements, partner buyouts, and debt purchases. Brian has also served as a board member of the Massachusetts Development Finance Agency.
Patrick E. Clancy is President and CEO of The Community Builders, Inc. (TCB), the largest non-profit urban housing developer in the country. Since 1964, TCB has completed more than 22,000 units of affordable and mixed-income housing and currently manages approximately 8,000 units. Pat is a nationally recognized expert in comprehensive neighborhood revitalization and the use of tax credits as a funding source for affordable and mixed-income housing. He currently serves as a Director of the Federal Home Loan Bank of Boston.
Ed Marchant (’68), an independent real estate advisor and Adjunct Lecturer at Harvard Kennedy School, will serve as moderator.
Event sponsored in part through the generosity of Tom (BA ’56) and
Eileen Parks to further real estate understanding within the Cornell Community.
Welcome and introduction by H. Pike Oliver, Director of Outreach for Cornell’s Program in Real Estate. Pike will welcome attendees and provide an update on Council and Real Estate Program events and activities at Cornell.
$50 per person ($15 for current CREC dues-paying members)
To reserve and make payment electronically please click on this link.
If reserving by mail please make check payable to "Cornell University" and mail to:
Program in Real Estate
114 W. Sibley Hall
Ithaca, NY 14853-6701
or provide credit card information below and fax to (607) 255-0242:
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