Tag: Roundtable

Roundtable Congressional Testimony on April 30 Will Focus on Policy Actions to Strengthen CRE Markets

Posted on by Abigail Grenadier
Real Estate Roundtable President and CEO Jeffrey DeBoer

Real Estate Roundtable President and CEO Jeffrey DeBoer will testify next week before the House Oversight Subcommittee on Health Care and Financial Services about the “Health of the Commercial Real Estate Markets and Removing Regulatory Hurdles to Ensure Continued Strength.” (Watch hearing here at 2pm EST on Tuesday, April 30 | Update: Written testimony here)

CRE Market Conditions & Solutions

  • Subcommittee Chairwoman Lisa McClain (R-MI), commented on April 23 that the hearing will explore solutions to strengthen businesses that continue to struggle from the impact of pandemic-related government policies. She stated, “These businesses – including medical centers, warehouses, and offices – are crucial to our local economies and communities.” (McClain news release)
  • The other hearing witness will be Jeffrey Weidell (CEO, NorthMarq), chairman of the Mortgage Bankers Association’s (MBA) Commercial Real Estate/Multifamily Finance Board of Governors. (MBA news release, Oct. 15, 2023)

The Roundtable’s all-member June 20-21 Annual Meeting will include a Joint Research Committee and Real Estate Capital Policy Advisory Committee Meeting to drill down on specific CRE capital and credit market trends and issues.

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CRE Market Conditions, Tax Proposals, and Energy Policy Focus of Roundtable Annual Meeting

Posted on by Trey Jackson

The Real Estate Roundtable’s 2023 Annual Meeting this week included policy discussions with national lawmakers on issues affecting commercial real estate, including market conditions and pressures on the office sector, tax policy, sustainability issues, and evolving security threats. Additionally, a special industry tax panel focused on incentives for property repurposing, community revitalization, and housing.

Speakers & Policy Issues 

Roundtable Chairman John Fish, left, with Roundtable President and CEO Jeffrey DeBoer

Roundtable Chair John Fish (Chairman and CEO, SUFFOLK), left, and Roundtable President and CEO Jeffrey DeBoer, right, launched the meeting, which included the following speakers:

Sen. Kyrsten Sinema (I-AZ)

Sen. Kyrsten Sinema (I-AZ)
Member, Senate Committee on Banking, Housing and Urban Affairs

Sen. Bill Hagerty (R-TN) and Geordy Johnson, CEO, The Johnson Group

Sen. Bill Hagerty (R-TN), left 
Member, Senate Committee on Banking, Housing and Urban Affairs
and Roundtable Board Member Geordy Johnson (CEO, The Johnson Group)

House Ways and Means Committee Chairman Jason Smith (R-MO)

Jason Smith (R-MO), Chairman
House Ways and Means Committee

House Ways and Means Committee Member Brad Schneider (D-IL)

 Brad Schneider (D-IL), Member
House Ways and Means Committee

Rep. Andrew Gabarino (R-NY)

Rep. Andrew Garbarino (R-NY), Chairman
House Homeland Security Subcommittee on Cybersecurity and Infrastructure Protection
 

David Crane and Tony Malkin

David Crane, left, Department of Energy Under Secretary for Infrastructure, and 
Roundtable Board Member Tony Malkin (Chairman, President and Chief Executive Officer, Empire State Realty Trust, Inc.)

Alejandra Nunez

Alejandra Nunez
Environmental Protection Agency (EPA)
Deputy Assistant Administrator, Office of Air and Radiation

Thomas Barthold

Thomas Barthold
 Chief of Staff, Joint Committee on Tax

Moody's Analytics Chief Economist Mark Zandi

Mark Zandi, Chief Economist, Moody’s Analytics  

Roundtable Policy Advisory Committees 

Real Estate Roundtable 2023 Annual Meeting wide shot

The Roundtable’s policy advisory committees also met on June 13-14 to analyze policy issues
with industry experts, policymakers, and their staff, including:

  • Joint RECPAC-Research Committee Meeting 

RECPAC Research panel Annual 2023

The Roundtable’s joint RECPAC and Research Committee meeting included a real estate capital market panel with CRE leaders. [Left to right in photo: panel moderator Mike Lowe (Co-CEO, Lowe); Sarah Hawkins (CEO, East Region, Hines); Christoph Donner (Chief Executive Officer, America, PIMCO Prime Real Estate LLC); David Mei (Vice President, InterContinental Hotels & Resorts); Gregg Gerken (Head of Commercial Real Estate, TD Bank); and Kathy Farrell (Head of Commercial Real Estate, Truist).

A separate presentation on the economy and CRE conditions was given by CBRE’s Christopher R. Ludeman, Global President, Capital Markets and Spencer Levy, Global Client Strategist & Senior Economic Advisor.

  • Tax Policy Advisory Committee (TPAC) 

TPAC panel with Downey speaking

Speakers at the TPAC meeting included key House tax policy leaders (see photos in previous story section) and a panel on “Debt Workouts / Tax Incentives for Property Repurposing, Community Revitalization, and Housing.” [Left to right in photo above: Adam Feuerstein (Real Estate Tax Technical Leader, PwC); David Downey (President & CEO, International Downtown Association); Victoria Honard (Legislative Director, Rep. Suzan DelBene (D-WA); and Phuc Tran (Vice President, Asset Management, Jair Lynch Real Estate Partners)]

An additional panel on the “Tax Legislative Outlook and Agenda with Senior Republican Tax Staff” featured a discussion with Payson Peabody (Tax Counsel, House Ways and Means Committee Majority Staff) and Michael Gould (IRS Detailee, Senate Finance Committee) that was moderated by Russ Sullivan (Brownstein Hyatt Farber Schreck).

  • Sustainability Policy Advisory Committee (SPAC) 

SPAC meeting at 2023 Annual

SPAC members heard from featured speakers David Crane and Alejandra Nunez (see photos in previous section above), along with updates from EPA senior staff on agency projects affecting CRE assets, and a presentation of an online marketplace for Inflation Reduction Act energy tax credits. (SPAC meeting agenda)

  • Homeland Security Task Force (HSTF) 

Roundtable's Homeland Security Task Force

A joint session of The Roundtable’s HSTF and Risk Management Working Group met with Rep. Andrew Garbarino (R-NY) and were briefed by officials from the Department of Homeland Security on efforts to enhance information sharing with the CRE industry. 

Next on The Roundtable’s FY2023 meeting calendar is the Fall Meeting on October 16-17 in Washington, DC. This meeting is restricted to Roundtable-level members only. 

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Roundtable Members and Leading Policymakers Focus on National Issues Affecting CRE in 118th Congress

Posted on by Trey Jackson

The Real Estate Roundtable’s 2023 State of the Industry (SOI) Meeting this week included policy discussions with national lawmakers on issues affecting commercial real estate—including the debt ceiling, affordable housing, tax policy, climate regulations, market conditions, and evolving security threats. A special Roundtable joint committee meeting also analyzed the opportunities presented by the Inflation Reduction Act (IRA) and the ways CRE companies are navigating the law’s clean energy tax incentives. 

Speakers & Policy Issues 

Roundtable Chair John Fish (Chairman and CEO, SUFFOLK), right,and Roundtable President and CEO Jeffrey DeBoer, left, launched the meeting, which included the following speakers:

  • House Democratic Leader Hakeem Jeffries (D-NY)
  • Miami Mayor Francis Suarez (R)
  • Sen. Robert Menendez (D-NJ)
  • Sen. Katie Britt (R-AL)
  • Rep. French Hill (R-AR)
  • Former Rep. and Ways and Means Committee Chairman Kevin Brady (R-TX) and former Rep. Stephanie Murphy (D-FL) 

Roundtable Policy Advisory Committees 

  • The Roundtable’s policy advisory committees also met on Jan. 24-25 to analyze policy issues with industry experts, policymakers, and their staff, including:

Special Joint SPAC-TPAC Session 

  • The Roundtable’s Tax and Sustainability Policy Advisory Committees (TPAC and SPAC) jointly met to discuss the practical aspects of employing the IRA’s new clean energy tax credits and deductions, and how the incentives can help finance improvements needed to meet evolving regulatory requirements and investor expectations. [Photo: panel moderators TPAC Vice Chair Catherine Perrenoud (Tax Director, Johnson Management LLC), left, next to Roundtable Board Member and SPAC Chair Anthony Malkin (Chairman and CEO, Empire State Realty Trust)]

Research and Real Estate Capital Policy Advisory Committees (RECPAC) 

  • Rep. Andy Barr (R-KY), above, shared his insights on capital and credit issues as chairman of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy. Panels on real estate capital markets and debt markets also engaged Roundtable members in wide-ranging discussions on current economic conditions.

    Tax Policy Advisory Committee (TPAC) 

  • Speakers at the TPAC meeting included senior House Ways and Means Committee member Darin LaHood (R-IL), above, a bipartisan panel of senior staff from the congressional tax-writing committees, and the Treasury Department’s attorney advisor for partnership and pass-through tax issues. The policymakers focused on tax and economic policy priorities for the year ahead.

    Sustainability Policy Advisory Committee (SPAC) 

  • HSTF members were briefed on the current threat environment to CRE by Linda Reid (VP, Security Operations, Walt Disney), right, and National Football League Security Chief Cathy Lanier, left, who also serves as vice-chair of CISA’s Commercial Facilities Sector Coordinating Council. Other discussions focused on cyber crime threats, fraudulent lease applications, organized criminal retail theft, and other security challenges facing commercial sector facilities. 

Next on The Roundtable’s FY2023 meeting calendar is the Spring Meeting on April 24-25. This meeting is restricted to Roundtable-level members only. 

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Roundtable Issues Call-to-Action to Members Concerning the Debt Ceiling

Posted on by Trey Jackson

U.S. Capitol from side with cloudsThe Real Estate Roundtable yesterday urged its membership—leaders of the nation’s top publicly held and privately owned real estate ownership, development, lending and management firms—to contact federal lawmakers to raise the nation’s debt ceiling. Treasury Secretary Janet Yellen said the U.S. reached the maximum amount it can legally borrow yesterday, and that “extraordinary measures” would allow the country to continue paying its bills, but only until early June. (NPR and Yellen letter to House Speaker Kevin McCarthy, Jan. 19)

Call-to-Action

  • In the all-member Call-to-Action, Roundtable Chair John Fish (Chairman and CEO, SUFFOLK) and Roundtable President and CEO Jeffrey DeBoer wrote, “We now believe the risk of a default on the federal debt in 2023 is a real and meaningful concern that must not be taken lightly.” Congress has faced this statutory limit on debt 78 times in the past, yet has always acted to increase the debt limit. The note expressed their concern that Congress will face more difficulty in reaching an agreement on the debt ceiling now amid a substantial increase in political acrimony.
  • Today, DeBoer said, “Some threats to the US economy are unavoidable, others are ones of our own making and entirely unnecessary. The potential for a default on the federal debt is a needless and inexcusable risk with potentially dire consequences for U.S. real estate, workers and retirees, and the entire economy. The full faith and credit of the United States government should not be open to negotiation.”
  • Federal Reserve economists believe a prolonged stand-off could cause private interest rates to rise sharply, create liquidity pressures, and severely impair financial markets. “As default risk rises, the impacts will be felt throughout the economy, but especially in borrowing-intensive industries such as real estate,” the Call-to-Action added.
  • The Roundtable note encourages its members to contact both policymakers in Congress and the White House to raise the debt ceiling soon.

Policymaking in the 118th Congress and significant challenges such as the debt ceiling will be discussed during The Roundtable’s State of the Industry Meeting next week in Washington, DC.

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The Roundtable’s Jeffrey DeBoer Recognized as One of DC’s “Top Lobbyists” for 2022

Posted on by Trey Jackson

Real Estate Roundtable President Jeffrey DeBoer & 2022 Roundtable Annual ReportReal Estate Roundtable President and CEO Jeffrey DeBoer, above, is one of the “Top Lobbyists” in Washington, DC for 2022, according to the prominent policy news publication, The Hill. This is the fifth consecutive year that DeBoer has earned the recognition. (The Hill, Dec. 7)

  • The publication noted their list of individual lobbyists is comprised of those who “played a key role in shaping an avalanche of legislation in 2022, including Democrats’ Inflation Reduction Act and several bipartisan bills that brought sharply divided lawmakers together.”
  • The Hill also notes the list recognizes “advocates won hard-fought battles to secure some of this year’s most significant bipartisan measures” and “demonstrated a track record of success in the halls of Congress and the administration during a critical year for policy.” (pdf of The Hill’s 2022 Top Lobbyists)
  • The Roundtable’s DeBoer commented, “I am honored to be recognized for my advocacy successes on behalf of the commercial real estate industry. However, I’m smart enough to know that they are not individual successes but are actually successes resulting from the hard work of the entire Roundtable team … our membership and staff. It is particularly rewarding to be honored by The Hill knowing that, in leading the team, my approach is grounded by a positive, bipartisan foundation built around overall community betterment and advancement.”

DeBoer added, “We will continue to advocate long-term, sustainable public policy relating to taxation, access to housing and capital, job creation and energy efficient buildings that are safe and secure—and I hope that our efforts will continue to be positively recognized.”

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Congressional and CRE Leaders Discuss Economic, Political Currents Leading to November’s Midterms

Posted on by Trey Jackson

Fall Roundtable Meeting - wide shot

Industry leaders and national policymakers met this week for The Roundtable’s fall meeting to discuss the U.S. political and economic environment, including issues such as inflation, housing, labor shortages, climate change, and November’s midterm elections. (Roundtable Executive Policy Summary and Policy Issue Profiles)

National Policy Issues & CRE

Speakers at The Roundtable’s Sept. 20-21 meeting included:

Real Estate Roundtable Chair John Fish (SUFFOLK)

  • Roundtable Chair John Fish (Chairman & CEO, SUFFOLK), above, and President and CEO Jeffrey DeBoer opened the meeting with an overview of The Roundtable’s efforts to shape the Inflation Reduction Act (IRA) that passed last month, and how the new law’s tax and sustainability provisions impact CRE. (Watch John Fish’s opening remarks | Roundtable Weekly, Aug. 12)

Senate Majority Leader Chuck Schumer (D-NY)

  • Senate Majority Leader Chuck Schumer (D-NY) also discussed the IRA and a string of other recent legislation—including bipartisan success on infrastructure spending, investments in U.S. manufacturing, and overhaul of the EB-5 investment program. He also raised the importance of immigration reform and Congress’s current focus to pass a funding resolution by Sept. 30 to avoid a government shutdown.

Rep. Patrick McHenry (R-NC) and Roundtable Board Member Ross Perot, Jr. (Chairman, Hillwood)

  • Rep. Patrick McHenry (R-NC), left, Ranking Member of the House Financial Services Committee, and Roundtable Board Member Ross Perot, Jr., right, (Chairman, Hillwood), discussed affordable housing supply problems, steps to counter local NIMBY opposition, and the need to develop a prudent economic policy response to prepare for future pandemic risks.

Sen. Mark Warner (D-VA), Roundtable Willy Walker (Chairman & CEO, Walker & Dunlop), and Sen. Michael Bennet (D-CO)

  • Sens. Michael Bennet (D-CO), right, and Mark Warner (D-VA), left, joined Willy Walker, center, (Chairman & CEO, Walker & Dunlop), to discuss supply chain issues, the war in Ukraine, and the importance of GSE reform.

Clean Energy

RER's Duane Desiderio, Tony Malkin and Ryan McCormick

Economic Conditions & Political Landscape

Debra Cafero and Dr. Austan Goolsbee

  • Dr. Austan Goolsbee, right, (former Chairman, White House Council of Economic Advisors) and The Roundtable’s Immediate Past Chair Debra Cafaro (Chairman & CEO, Ventas, Inc.) focused on inflationary pressures, labor shortages, return-to-office issues, and a new era of deglobalization.

Barry Jackson and Jim Messina

  • A “fireside chat” with Jim Messina, right, (former President Obama’s Deputy Chief of Staff) and Barry Jackson, left, (former House Speaker John Boehner’s Chief of Staff) offered an overview of the current state of U.S. politics and a preview of the upcoming midterm elections.

Next on The Roundtable’s meeting calendar is the all-member State of the Industry Meeting on Jan. 24-25, 2023 in Washington, where The Roundtable will unveil its 2023 Policy Agenda.

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Small-Business Owners Descend on Capitol Hill to Urge SBA Reauthorization, CRE Leaders Address Market Conditions

Posted on by Trey Jackson
Goldman Sachs 10k Businesses

Over 2,500 small-business owners gathered on Capitol Hill this week to meet with more than 400 lawmakers and federal officials to urge reauthorization of the Small Business Administration (SB) for the first time in over 20 years. Small businesses throughout the nation are facing inflationary pressures, supply chain shortages, labor challenges, limited access to capital and a looming possibility of recession. (The Hill, July 20) 

10,000 Small Businesses 

  • The business owners urged lawmakers to modernize the SBA, enact tax credits and provide incentives to help small businesses retain workers and access capital.
  • Sens. Kyrsten Sinema (D-AZ) and Tim Scott (R-SC) commented on Tuesday during the summit that the SBA should be simplified and supported reauthorization. (The Hill, July 20)
  • Joe Wall, director of Goldman Sachs’s small-business program, said, “Our goal this week is to generate a lot of momentum so that heading into next year it’s a real priority.” (The Hill, July 20)

Owner Challenges

Goldman Sachs 10,000 Businesses survey

  • A recent survey of the program’s participants shows 93 percent of small-business owners are worried about the US economy experiencing a recession in the next 12 months. Nearly all respondents (97 percent) also say inflationary pressures have increased or remained the same compared with three months ago. Additionally, 88 percent of respondents say it is important for Congress to prioritize the Small Business Administration (SBA), which has not happened in 20 years. (Survey news release, July 13) 
  • Alumni of the 10,000 Small Businesses program collectively represent over $17.3 billion in revenues and employ 245,000 people. 

Industry Views

Marty Burger, far right, interviewed on CNBC's Squawk on the Street

Dr. Linneman commented that inflation is transitory with supply lagging demand due to 23% of the workforce collecting unemployment insurance. He also offers his views on national debt concerns, the Fed and interest rates, and return-to-the-office concerns. (Watch “The Best Hour in CRE” with Economist Peter Linneman, July 21)

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Inflation, National Policy Agenda, and CRE Market Conditions Focus of Roundtable Annual Meeting

Posted on by Trey Jackson

2022 Real Estate Roundtable Annual Meeting Audience

The Roundtable’s 2022 Annual Meeting in Washington, DC this week focused on key policy issues affecting the commercial real estate industry—including inflation and interest rates; prospects for a scaled-back Build Back Better (BBB) Act; proposed climate risk disclosure rules; and a new industry Equity, Diversity, and Inclusion initiative.

Policy Focus

DeBoer and Manchin at 2022 Roundtable Annual Meeting

  • Roundtable President and CEO Jeffrey D. DeBoer, left, launched the June 16 business meeting with an overview of The Roundtable’s Policy Agenda and newly released 2022 Annual Report, Building a More Resilient and Dynamic Future. Annual Meeting guests included:
    • Sen. Joe Manchin (D-WV)
      Sen. Manchin, above right, discussed the benefits of a bipartisan approach to legislation and the role of inflation in considering any additional spending bills this year.
    • Sen. John Thune (R-SD)
      Sen. Thune spoke about supply chain issues, aid for Ukraine, the Fed and monetary policy, and the upcoming elections.
    • Rep. Abigail Spanberger (D-VA)
      Rep. Spanberger addressed efforts to produce common-sense gun policy, lower inflationary costs for families and policymaking in the House during the upcoming lame duck session.
    • Jim VandeHeiAxios and Politico co-founder and CEO discussed the current political environment, potential challengers to President Biden, the upcoming congressional elections, and the advantages of delivering news and analysis about today’s policy landscape in an efficient, “smart brevity” style.
    • Jonathan KarlABC New’s Chief Washington Correspondent spoke about the current political environment and the midterm elections.

Supplier Diversity & CRE

Rock Irvin, Chief Commercial Officer, SupplierGATEWAY (left) and Adenuga Solaru Chief Executive Officer (right)

  • The Annual Meeting also included an initiative of The Roundtable’s Equity, Diversity, and Inclusion (ED&I) Committee, chaired by Jeff T. Blau (Chief Executive Officer and a partner of Related Companies).
  • A proposed two-year pilot program was discussed with SupplierGATEWAY—a firm that assists companies interested in hiring Minority- and Women-Business Enterprises (MWBEs) as contractors, service providers, JV partners, and other “vendors” in their “supply chains.” (Photo: SupplierGATEWAY’s Rock Irvin, left, Chief Commercial Officer, with Adenuga Solaru, Chief Executive Officer)
  • The proposed online SupplierGATEWAY portal would support CRE firms interested in accessing a broad and centralized MWBE vendor database, posting hiring opportunities for those contractors, and utilizing tools to assist with corporate ESG reports.
  • SupplierGATEWAY’s executives demonstrated a CRE-specific “prototype” of their MWBE management portal that could be available by the fall for companies who may subscribe to the service. 
  • For more information regarding The Roundtable’s supplier diversity initiative, contact Roundtable Senior Vice President and Counsel, Duane Desiderio (ddesiderio@rer.org).

CRE Markets & Policy Advisory Committees

TPAC Meeting at Annual 2022 Meeting

  • The Roundtable’s Policy Advisory Committee leadership discussed their policy issue activities during the business meeting and referred to a Policy Issues Toolkit for background information on how key issues impact commercial real estate (see Executive Summary). Each committee met in conjunction with the Annual Meeting to address the following:  
    • The Sustainability Policy Advisory Committee (SPAC) focused on a recent Securities and Exchange Commission (SEC) proposed rule that would require registered companies to report on climate-related financial risks. The Roundtable submitted a comment letter to the SEC last week on the proposed rules. (Roundtable Weekly, June 10 and Roundtable comments | SPAC Agenda).
       
    • The Research and Real Estate Capital Policy Advisory Committees (RECPAC) met jointly with Rep. Rep. French Hill (R-AR) to discuss the congressional legislative agenda and capital markets from his perspective as a member of the House Financial Services Committee and Ranking Member of its Subcommittee on Housing, Community Development and Insurance. (Joint RECPAC-Research Agenda)
    • The Tax Policy Advisory Committee (TPAC) drilled down on a Senate proposal to tax unrealized gains associated with appreciated assets, partnership tax rules, like-kind exchanges, Opportunity Zone incentives, and energy-efficiency tax provisions. (TPAC Agenda)
    • The Homeland Security Task Force (HSTF) and Risk Management Working Group (RMWG) met jointly to discuss current threat issues, with presentations by Kevin Vorndran, Deputy Assistant Director, Counterterrorism Division, FBI and Nitin Natarajan, Deputy Director of the Cybersecurity and Infrastructure Security Agency (CISA). (Joint HSTF-RMWG Agenda)

Next on The Roundtable’s calendar is the Sept. 20-21 Fall Meeting (Roundtable-level members only).

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CRE Leaders and Lawmakers Discuss Domestic Policy Agenda, Ukraine, Climate and Economic Issues

Posted on by Trey Jackson

Real Estate Roundtable Spring 2022 Meeting

National lawmakers and Real Estate Roundtable members met this week to discuss domestic and geopolitical issues affecting the economy and industry—including inflation and the Fed; the congressional legislative agenda; and the war in Ukraine. The Roundtable’s 2022 Spring Meeting also featured a discussion on climate-related financial and regulatory proposals. (Roundtable April 2022 Policy Issue Profiles and Executive Summary) 

Senator Sinema & Market Conditions 

Senator Kyrsten Sinema (D-AZ) at RER's 2022 Spring Meeting

  • A discussion with Sen. Kyrsten Sinema (D-AZ), above, on policymaking in the Senate launched The Roundtable meeting on April 25. 
  • Roundtable Chair John Fish (Chairman & CEO, Suffolk) and Roundtable President and CEO Jeffrey DeBoer led a dialogue among industry executives and House and Senate members on CRE market conditions. Roundtable members offered their views on inflationary pressures, supply chain disruptions, and back-to-office challenges. 

Ukraine, Climate and the Fed 

  • On April 26, Roundtable members convened for policy discussions with the following guests:
     
  • Lieutenant Colonel (Ret.) Alexander Vindman
     L to R: Jeffrey DeBoer, Alexander Vindman, John FishA 20-year military veteran, former Director with the White House’s National Security Council, and now a senior advisor with VetVoice Foundation, Mr. Vindman addressed the war in Ukraine. “It is a geopolitical earthquake that will shape how power is used in the 21st century,” Vindman said, adding that an eventual reconstruction effort will require a massive international effort involving public-private partnerships and private equity. (Photo: left to right, Jeffrey DeBoer, Mr. Vindman, and John Fish)
  • Senator Bill Cassidy (R-LA) 
     Sen. Bill Cassidy (R-LA)
    As a member of the Senate’s Committee on Energy and Natural Resources, Finance, and Joint Economic Committee, Sen. Cassidy provided his insight on the congressional agenda, including economic and energy policy issues. “The real estate sector acts as both a leading indicator and a reflection of what is happening in our communities across the country,” said Cassidy, above left. At right is Roundtable Chair John Fish.
  • Climate Panel
    Tony Malkin and Sen. John Hickenlooper (D-CO)A Roundtable panel addressed climate-related issues and their impact on investor demand, property values and interest rates. (Video of the discussion). The panel also discussed regulatory issues such as the SEC’s proposed climate risk disclosure rule. (Roundtable Weekly, March 25). Speakers included:

Roy Hilton March, Kathleen McCarthy and Bill Stein

  • Former Fed Board Member Kevin Warsh 
     Kevin Warsh and Scott RechlerWarsh, above left, a former member of the Fed Board of Governors (2006-2011), discussed the Fed’s potential actions to temper inflation and guide the economy to a “soft landing” with Roundtable Member Scott Rechler, right, (Chairman & CEO, RXR Realty), who serves on the Federal Reserve Bank of New York’s Board of Directors. 

Next on The Roundtable’s meeting calendar is the all-member June 16-17 Annual Meeting in Washington, DC. 

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Roundtable Members Support NYC Coalition to Reduce Crime and Increase Public Safety

Posted on by Trey Jackson

NYC street scene

A coalition of more than 230 business, civic, and labor leaders – including 16 Real Estate Roundtable members – on Jan. 31 expressed broad support for New York City Mayor Eric Adams’s efforts to increase public safety in the wake of a series of violent crimes across the city. New York is one of several cities across the nation facing a spike in crime since the start of the pandemic. (Partnership for New York City letter, Jan. 31 | Reuters and CQ, Feb. 3) 

Private Sector Support

Rob Speyer

  • Roundtable Board Member Rob Speyer (President and CEO, Tishman Speyer), above, and Steven Swartz (President and CEO, Hearst) – Co-Chairs of the Partnership for New York City – stated, “We support Mayor Adams’ comprehensive approach to reducing crime and gun violence. The return of the pre-pandemic vibrancy of our city depends on his success.” (New York City’s website)
  • The coalition letter also noted, “New York cannot recover from the devastating impacts of the pandemic without first restoring the sense of personal security that every resident, worker, visitor, and community in our city has the right to expect.”
  • “[I]t is equally necessary to invest in mental health care and alleviate conditions that contribute to violent behavior” such as homelessness, the letter explains.

Real Estate Roundtable President and CEO Jeffrey DeBoer

  • Roundtable President and CEO Jeffrey DeBoer, above, stated, “The Real Estate Roundtable is highly supportive of governmental efforts nationally and locally to address violent behavior, substance abuse, homelessness, and joblessness. We join with our New York-based leaders in supporting efforts to address these troubling realities in New York City and we applaud President Biden for his announcement this week on community safety.”
  • The coalition letter comes a week after Adams proposed a comprehensive Blueprint to End Gun Violence. President Biden and Attorney General Merrick Garland yesterday traveled to New York to offer federal support to the plan of Adams and New York Gov. Kathy Hochul to crack down on illegal guns coming into the state. (New York Daily News and Reuters, Feb. 3) 

The White House yesterday announced President Biden’s plan to urge Congress to allocate $500 million more to combat gun violence into a fiscal 2022 spending package. (White House Announcement, Feb. 3) 

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