Tag: Roundtable Leadership

The Real Estate Roundtable’s Board of Directors Announces Blackstone’s Kathleen McCarthy as Chair-Elect

Posted on by Abigail Grenadier

(WASHINGTON, D.C.) — The Real Estate Roundtable’s Board of Directors has elected Kathleen McCarthy (Global Co-Head of Blackstone Real Estate) as Chair-Elect, to begin her three-year term as Roundtable Chair on July 1, 2024.

Chair-Elect McCarthy will succeed John Fish (Chairman & Chief Executive Officer, Suffolk) who has served as Roundtable Chair since 2021.

“The Real Estate Roundtable and its Board of Directors are thrilled to announce Kathleen McCarthy as our Chair-Elect,” said Mr. Fish. “Kathleen is an extraordinary leader in the real estate industry and has been a key contributor to The Roundtable’s mission as a member of our Board. Her extensive experience and expertise as co-head of the world’s largest real estate platform brings a unique and invaluable perspective to our policy discussions.”

Mr. Fish added, “Kathleen’s fact-based approach and understanding of policies impacting commercial real estate will help advance policies that benefit communities, create jobs and accelerate economic growth. I am delighted that Kathleen will be the next Chair of The Real Estate Roundtable.”

Ms. McCarthy stated, “I am deeply honored to have the opportunity to serve as Chair of the Real Estate Roundtable and build upon the important work being done by John, Jeff and the entire Roundtable team. The opportunities and challenges facing our industry require innovative approaches and strong engagement between the public and private sectors. Advocacy for policies in an industry that touches so many aspects of everyday life is crucial and I’m committed to advancing our sector for the benefit of communities across the nation.”

Roundtable President and CEO, Jeffrey D. DeBoer commented, “I am excited about our Board’s decision to select Kathleen McCarthy as our Chair-Elect, and look forward to working more extensively with her as we continue The Real Estate Roundtable’s solid track record of driving change in our industry for the benefit of all stakeholders.”

About Kathleen McCarthy

Kathleen McCarthy is the Global Co-Head of Blackstone Real Estate. Blackstone is the largest owner of commercial real estate globally with a $585 billion real estate portfolio and $333 billion in investor capital under management (as of June 30, 2023). Blackstone Real Estate is an industry leader in opportunistic, core plus and debt investing across North America, Europe and Asia. Ms. McCarthy focuses on driving performance and growth for Blackstone’s Real Estate business.

Ms. McCarthy previously served as Global Chief Operating Officer of Blackstone Real Estate. Before joining Blackstone in 2010, Ms. McCarthy worked at Goldman Sachs, where she focused on investments for the Real Estate Principal Investment Area. Ms. McCarthy began her career at Goldman Sachs in the Mergers & Acquisitions Group.

Ms. McCarthy received a BA with Distinction from Yale University. She serves on the Boards of City Harvest, the Real Estate Roundtable, the PREA Foundation, and the Blackstone Charitable Foundation, and is the President of the Board of Trustees of The Nightingale-Bamford School.

About John Fish

The Real Estate Roundtable’s Board of Directors is chaired by John Fish, who is Chairman and CEO of Suffolk. Under his vision and leadership, Suffolk has grown into one of the leading privately held general building contractors in the country. With over $4.5 billion in annual revenue, Suffolk is currently ranked #23 on the Engineering News-Record national list of “Top 400 Contractors.”

He serves on numerous Boards focused on improving the economy, strengthening business and creating jobs. He also serves on the Executive Committee of the Real Estate Board of New York and a member of the Partnership for New York City and New York Building Congress.

Mr. Fish is a graduate of Bowdoin College in Brunswick, Maine with a Bachelor’s Degree in Political Science.  He received an Honorary Doctorate of Engineering Technology Degree from Wentworth Institute of Technology. He is also the recipient of an honorary degree from Regis College and Curry College

About The Real Estate Roundtable

The Real Estate Roundtable brings together leaders of the nation’s top publicly-held and privately-owned real estate ownership, development, lending and management firms with leaders of major national real estate trade organizations to jointly address key national policy issues relating to real estate and its important role in the global economy. 

The collective value of assets held by Roundtable members exceeds $4 trillion. The Roundtable’s membership represents more than 3 million people working in real estate; 12 billion square feet of office, retail and industrial space; over 4 million apartments; and more than 5 million hotel rooms. It also includes the owners, managers, developers and financiers of senior, student, and manufactured housing—as well as medical offices, life science campuses, data centers, cell towers, and self-storage properties.

The Roundtable’s policy news and more are available on The Roundtable website.

#   #   #

The Real Estate Roundtable Approves Five New Board Members

Posted on by Trey Jackson

2024 RER Board - image

The Real Estate Roundtable’s membership has approved five new members to serve on its 25-member Board of Directors during the 2024 fiscal year (July 1, 2023 – June 30, 2024). The Roundtable’s Board is effective July 1, elected from the membership, and includes industry representatives from four of The Roundtable’s 18 national real estate trade partners.

Board Transition

  • Roundtable Board Chair John Fish (SUFFOLK Chairman and CEO) also enters the final year of his three-year term that began on July 1, 2021. Fish said, “We look forward to the contributions of five new commercial real estate leaders who have joined The Roundtable’s Board of Directors. Their individual expertise, insight, and broad skill sets will add to our organization’s highly regarded effectiveness on national policy issues affecting CRE. Our Board, supported by our policy advisory committees and general membership, will continue to engage policymakers in Washington with fact-based, non-partisan analysis. I look forward to working with them on issues such as the negative impact of remote work on municipalities and communities; capital and credit concerns in a high-interest rate environment; and a practical approach to the role buildings can play in helping to achieve climate goals.”
  • “I also offer my sincere gratitude to our Board members whose terms have expired. Their significant service to the industry during a global pandemic was essential, and we look forward to their continued participation as Roundtable members,” Fish said. 
  • Roundtable President and CEO Jeffrey DeBoer stated, “Roundtable members consistently bring innovative solutions to compelling policy challenges facing CRE. The Roundtable’s Board of Directors represents all major industry activities and asset types, and includes diverse voices from throughout the country. This inclusion ensures that our Board’s decisions are sustainable, flexible, and based in real-world economics. I am eager to continue working with the Board as we advance new recommendations on organizational and strategic policy direction.”

The five new members joining The Roundtable’s FY 2024 Board of Directors as of July 1 are:

Stepping down from The Roundtable Board as of July 1 are:

The Roundtable’s 2023 Annual Report—“Sustained Strength, Sustained Solutions”—will be sent to all members next week.

#  #  # 

Roundtable Elects New Board Members, Releases FY 2022 Annual Report

Posted on by Trey Jackson
Partial image of 2022 Real Estate Roundtable Board of Directors

The Real Estate Roundtable recently approved a 25-member Board of Directors and released its FY2022 Annual Report, “Building a More Resilient And Dynamic Future.” 

New Board Members 

  • The Roundtable membership approved, effective July 1, the addition of the following three industry leaders to the Board:

  • Roundtable President and CEO Jeffrey DeBoer commented, “The Roundtable is excited to welcome these business leaders who bring important perspectives from CRE’s hospitality, financial services and development sectors to our Board and Policy Agenda.”

  • “We are also grateful for the three years of successful service that Amy Rose (President and Chief Executive Officer, Rose Associates) devoted to our Board of Directors, and look forward to her continued participation as a Roundtable member. Amy is stepping down after lending her expertise during an especially challenging time that spanned a pandemic-driven economic shock.” DeBoer added.

Annual Report 

Real Estate Roundtable President Jeffrey DeBoer & 2022 Roundtable Annual Report
  • The Roundtable’s 2022 Annual Report addresses the strength and resilience of CRE as the nation seeks greater economic stability, growth, and fairness during an evolving pandemic.

  • Roundtable Chair John F. Fish (Chairman & CEO, Suffolk) and DeBoer, above, state in the introduction: “As the world faces challenges such as inflation and rising interest rates, supply chain and labor shortages, other local public policy challenges, and increased uncertainty caused by the conflict in Ukraine, the importance of a strong and resilient real estate industry has been underscored yet again. While the way these challenges manifest may be new, the threat of such challenges is something the industry has risen to time and time again.”

The Roundtable’s membership represents over 3 million people working in real estate; some 12 billion square feet of office, retail, and industrial space; over 4 million apartments; and more than 5 million hotel rooms. It also includes senior, student, and manufactured housing as well as medical offices, life science campuses, data centers, cell towers, and self-storage properties. The collective value of assets held by Roundtable members exceeds $4 trillion. 

#  #  # 

Roundtable Elects FY 2022 Leadership; 2021 Annual Report Released

Posted on by Trey Jackson

The Real Estate Roundtable this week announced its new FY2022 leadership, with John F. Fish (Chairman & CEO, Suffolk), above, elected as Chair for a three-year term starting July 1, 2021 – following an effective, productive term by Immediate Past Chair Debra A. Cafaro (Chairman & CEO, Ventas, Inc.). The Roundtable’s membership also approved a 22-member Board of Directors and committee officers. ( Roundtable news release, Aug. 5)

Policy Leaders

  • “I am honored and humbled to assume this new role at such a pivotal moment for the real estate industry. Our communities are facing a host of challenges – from unprecedented political polarization, to the growing threat of climate change, to the comeback from the global pandemic – but where we see obstacles ahead, we also see opportunity to expand jobs, provide housing, and assist businesses evolve in the post-Covid economy,” said John Fish, Real Estate Roundtable Chair.
  • Fish also recently discussed infrastructure issues, the impact of the pandemic on commercial real estate and the industry’s leadership role in national policy issues with Roundtable member Willy Walker (Chairman and CEO of Walker & Dunlop) on the  Walker Webcast.  (Bisnow and Connect, July 21 and Roundtable Weekly, July 23)
  • The Roundtable’s Immediate Past Chair, Debra Cafaro noted, “It has been an honor and privilege to serve as chair for the last three years, and I am delighted to pass the baton to my friend and colleague John Fish. John is uniquely well-positioned to lead this organization as we move forward with the issues of economic recovery from the pandemic, job creation, sustainability, infrastructure and tax policy, which are at the forefront of policy debates in Washington.”
Real Estate Roundtable Leadership

Photo – center: Debra Cafaro, top right: John Fish, top left: Jeffrey DeBoer

  • Cafaro was recently recognized as a “Diversity Champion” for her efforts with The Roundtable and her company Ventas on equity, diversity and inclusion by Real Estate Forum magazine in their “Women of Influence” July-August issue. The Forum’s sister publication, GlobeSt.com, also featured the award winners.
  • Roundtable President and CEO Jeffrey DeBoer commented, “We are committed to sustainable national policies that reinforce and expand long-term economic growth and opportunities for all, spur job creation and encourage capital formation.”  DeBoer added, “The real estate industry provides jobs for tens of millions of people, is a significant source of revenue for local governments to help fund schools, hospitals and much needed community services, and is a key investment allocation for pensions and other retirement savings funds.  I thank Debra for her leadership, and look forward to working closely with our new chair John Fish on these policy issues and to continuing The Roundtable’s fact-based, data driven advocacy work.”
  • The Roundtable recently released its 2021 Annual Report, which shows its effective policy activities in the areas of tax … capital and credit … housing and infrastructure … energy and climate … and homeland security.  The publication’s introduction also addresses The Roundtable’s path ahead as the industry seeks to emerge out of the pandemic stronger than ever.

Roundtable Board and Committee Leadership 

The Roundtable’s membership represents over 3 million people working in real estate; some 12 billion square feet of office, retail, and industrial space; over 2 million apartments; and more than 3 million hotel rooms. It also includes senior, student and manufactured housing as well as medical office, life science campuses, data centers, cell towers, and self-storage properties. The collective value of assets held by Roundtable members exceeds $3 trillion.

#  #  # 

The Real Estate Roundtable Elects FY 2022 Leadership

Posted on by Trey Jackson

John Fish is New Chair of Roundtable Board of Directors; Debra Cafaro Commended for her Effective Three Years as Roundtable Chair

(WASHINGTON, D.C.) — The Real Estate Roundtable today announced its new FY2022 leadership, with John F. Fish (Chairman & CEO, Suffolk) elected as Chair for a three-year term starting July 1, 2021 – following an effective, productive term by Immediate Past Chair Debra A. Cafaro (Chairman & CEO, Ventas, Inc.). The Roundtable’s membership also approved a 22-member Board of Directors and committee officers.

“I am honored and humbled to assume this new role at such a pivotal moment for the real estate industry. Our communities are facing a host of challenges – from unprecedented political polarization, to the growing threat of climate change, to the comeback from the global pandemic – but where we see obstacles ahead, we also see opportunity to expand jobs, provide housing, and assist businesses evolve in the post-Covid economy,” said John Fish, Chair of the Real Estate Roundtable.

“The Real Estate Roundtable and its members have a tremendous legacy of stepping up during difficult times, and I look forward to working alongside my colleagues and leaders from business and government to build on the great work that is already underway. Together, we can continue to leverage our knowledge and resources to have a positive impact on our industry and the world.”

“We are committed to sustainable national policies that reinforce and expand long-term economic growth and opportunities for all, spur job creation and encourage capital formation,” said Jeffrey D. DeBoer, Roundtable President and CEO. “The real estate industry provides jobs for tens of millions of people, is a significant source of revenue for local governments to help fund schools, hospitals and much needed community services, and is a key investment allocation for pensions and other retirement savings funds.  I thank Debra for her leadership, and look forward to working closely with our new chair John Fish on these policy issues and to continuing The Roundtable’s fact-based, data driven advocacy work.”

The Roundtable’s Immediate Past Chair, Debra Cafaro noted, “It has been an honor and privilege to serve as chair for the last three years, and I am delighted to pass the baton to my friend and colleague John Fish. John is uniquely well-positioned to lead this organization as we move forward with the issues of economic recovery from the pandemic, job creation, sustainability, infrastructure and tax policy, which are at the forefront of policy debates in Washington.”

Key Background:

The Real Estate Roundtable brings together leaders of the nation’s top publicly-held and privately-owned real estate ownership, development, lending and management firms with the leaders of major national real estate trade associations to jointly address key national policy issues relating to real estate and the overall economy.

The 22-member FY2022 Board is elected from the membership and includes three elected leaders of national real estate trade organizations from The Roundtable’s 19 partner associations.

Under Mr. Fish’s leadership, Suffolk has grown into one of the leading privately held general building contractors in the country. With approximately $4 billion in annual revenue, Suffolk is currently ranked #23 on the Engineering News-Record national list of “Top 400 Contractors.” Mr. Fish is also fixture on numerous boards focused on improving the economy, strengthening business and creating jobs, and has served on The Roundtable’s Board of Directors since 2017.

The Roundtable’s business and trade association leaders seek to ensure a cohesive industry voice is heard by government officials and the public about real estate and its important role in the global economy.

Joining The Roundtable’s Board of Directors as of July 1 are:

  • Geordy Johnson, CEO, Johnson Development Associates, Inc.
  • Brian Kingston, Managing Partner and Chief Executive Officer, Brookfield Property Partners
  • Kara McShane, Head of Commercial Real Estate, Wells Fargo
  • Mark J. Parrell, President & Chief Executive Officer, Equity Residential, Member, National Multifamily Housing Council

See the complete list of the FY2022 Roundtable’s Board of Directors here.

Stepping down from The Roundtable Board as of July 1 are:

  • Shelby Christensen, Chair and Chief Elected Officer, Building Owners & Managers Association, International
  • Richard B. Clark, Managing Partner, WatermanCLARK
  • Charlie Dawson, Vice President, National Association of REALTORS®
  • Robert R. Merck, Senior Managing Director and Global Head of Real Estate, MetLife Investment Management
  • William C. Rudin, Co-Chairman and CEO, Rudin Management Company, Inc. Chairman Emeritus, The Real Estate Roundtable

For FY 2022, The Roundtable’s Committee Leadership will be:

Equity, Diversity and Inclusion Committee

  • Jeff T. Blau (Related Companies) continues as chair

The Homeland Security Task Force (HSTF) will be co-chaired by

  • Amanda S. Mason (Related Companies) and
  • Keith Wallace (Marriot International)

The Real Estate Capital Policy Advisory Committee (RECPAC) will be co-chaired by:

  • Kathleen Sullivan Farrell (Truist),
  • Gregg Gerken (TD Bank), and
  • Michael H. Lowe (Lowe)

The Research Committee will be co-chaired by:

  • Spencer Levy (CBRE) and
  • Paula Campbell Roberts (KKR)

The Sustainability Policy Advisory Committee (SPAC):

  • Anthony E. Malkin (Empire State Realty Trust) continues as chair,
  • Daniel Egan (Vornado Realty Trust) continues as co-vice chair
  • Ben Myers (Boston Properties) is a new co-vice chair

The Tax Policy Advisory Committee (TPAC):

  • Frank G. Creamer, Jr. (FGC Advisors, L.L.C.) continues as chair
  • Catherine Perrenoud (Johnson Management, LLC) is the new vice chair

The Roundtable’s membership represents over 3 million people working in real estate; some 12 billion square feet of office, retail, and industrial space; over 2 million apartments; and more than 3 million hotel rooms. It also includes senior, student and manufactured housing as well as medical office, life science campuses, data centers, cell towers, and self-storage properties. The collective value of assets held by Roundtable members exceeds $3 trillion.

# # #

Roundtable Leaders and National Policymakers Highlight Key Industry Issues

Posted on by Trey Jackson

A wide range of policy issues were addressed by Roundtable leaders, Members of Congress and Administration officials during this week’s Roundtable Spring Meeting, including: infrastructure; housing availability and financing; tax proposals; building energy and climate related matters; and pandemic risk insurance. (For issue detail please see The Roundtable’s 2021 National Policy Agenda)

Roundtable Leadership

  • Roundtable Chair Debra Cafaro (Chairman and CEO, Ventas, Inc.) launched the meeting on April 20 with Roundtable Chair-Elect John F. Fish (Chairman & CEO, SUFFOLK) and Roundtable President and CEO Jeffrey DeBoer. 
  • Chair Cafaro noted, “We convene at a time imbued with optimism and renewal, as we are fortunate to have an accelerated vaccine rollout, an improving economy and stabilizing markets.” 

  • She also acknowledged the vital, positive role that The Roundtable membership has played in addressing many of today’s national challenges, including rebuilding and expanding infrastructure; expanding housing opportunities; creating jobs and training workers for a changing economy. “Roundtable members have been at the forefront of advocating for these important policies since the onset of the COVID-19 pandemic,” Cafaro said.
  • Roundtable Chair-Elect Fish stated, “Unintended consequences can occur when big national policy changes are proposed, so it is more important than ever that the real estate industry offer its expertise to help policymakers as they look to enact reform and propose new, important initiatives. The Roundtable is indeed engaged, and will remain so, in major policy issues impacting the industry.”
  • Roundtable President and CEO DeBoer emphasized the need for ongoing interaction with policymakers in Washington as the policy agenda and congressional rosters change.  He stated, “Our Roundtable policy advisory committees continue to remain active in keeping policymakers and regulators up to date on the evolving marketplace and our policy agenda. We always take a fact-based approach from the point of view of the asset, showing how it is sustainable, supports jobs for the community and contributes to overall economic growth,” DeBoer stated.

Featured Policymakers

Transportation Secretary Pete Buttigieg

  • The Roundtable’s Fall Business Meeting included virtual visits from the following guests:
     
    • Senate Majority Leader Chuck Schumer (D-NY)
    • Secretary of Transportation Pete Buttigieg, above
    • Secretary of Commerce Gina Raimondo
    • White House National Economic Council Director Brian Deese
    • Senator Jacky Rosen (D-NV)
  • Following the business meeting, members from the House and Senate attended several smaller breakout sessions with Roundtable attendees to discuss national policy issues in a more informal exchange of views.

Next on The Roundtable’s meeting calendar is the all-member June 15-16 State of the Industry Meeting, which will be held virtually via Zoom.

#  #  #

Roundtable Board of Directors Approves RER Leadership; Establishes Equity, Diversity and Inclusion Committee

Posted on by Trey Jackson

RER Board Approves Suffolk Chairman and CEO John F. Fish as Chair-Elect for FY 2021, Edens CEO Jodie W. McLean as Secretary, and Related Companies CEO Jeff T. Blau as Chair of Newly Established Equity, Diversity and Inclusion Committee

(WASHINGTON, D.C.) — The Real Estate Roundtable’s 24-member Board of Directors has approved John F. Fish (CEO & Chairman, Suffolk) as the organization’s Chair-Elect, to begin his term as Chairman of the Roundtable in mid-2021.  The Board also approved, effective immediately, Jodie W. McLean (CEO, Edens) as its Secretary and Jeff T. Blau (CEO, Related Companies) as the Chair of the organization’s newly established Equity, Diversity and Inclusion (ED&I) Committee.

Chair-Elect Fish will succeed current Roundtable Chair Debra A. Cafaro (Chairman and Chief Executive Officer, Ventas, Inc.) whose term expires July 1, 2021.  “The Board of Directors of The Real Estate Roundtable is excited to announce John Fish as our Chair-Elect and Jodie McLean as our Secretary,” said Cafaro.  “John has been an active Board member and has played a key role in developing our policy agenda.  He is active on a bipartisan basis with policymakers, and his experiences and accomplishments across business, government and philanthropy give John a broad perspective that will benefit the Roundtable and our members.  John’s emphasis on labor force issues, infrastructure, and the need to level the educational and economic opportunities for all Americans are particularly relevant as The Roundtable develops and advocates fact-based policies that create jobs and inclusive economic growth,” Cafaro added.

Mr. Fish stated, “I am honored to have the opportunity to serve as Roundtable Chair-Elect, work with the talented team and follow Debra Cafaro’s impressive record of policy accomplishments in Washington.  I have seen the effectiveness of the organization in advocating shared industry concerns to lawmakers and regulators, and strongly believe it is essential for The Real Estate Roundtable to continue its engagement at all levels of policy-making as the nation comes together to address new economic, societal and health challenges.” 

About Fish and McLean

Mr. Fish is the Chairman and CEO of Suffolk, which is a national real estate and construction enterprise that invests, innovates and builds, providing value throughout the entire building lifecycle. Suffolk is one of the largest builders and privately held companies in the country, with main offices in the Northeast, New York, Florida, Texas and California. The company services clients in the aviation/transportation, science and technology, mission critical, commercial, education, healthcare, gaming and government sectors.  Mr. Fish is a former Chair of the Federal Reserve Board of Boston, current Chair of Brigham and Women’s Hospital and member of the Mass General Brigham’s Executive Committee, and is serving his second term as Chairman of the Board of Trustees at Boston College. 

Jodie W. McLean is Chief Executive Officer of EDENS, one of the nation’s leading private owners, operators and developers of retail real estate.  She is responsible for EDENS’ strategy to move the portfolio to major urban centers, creating a portfolio of assets that are the center of community life.  Ms. McLean currently serves on the Board of Directors of the Federal Reserve Bank of Richmond.  She also serves on the boards of Cushman & Wakefield and Extended Stay America, as well as boards of several other institutions and charities. 

Equity, Diversity and Inclusion Commitment of RER

On his appointment as the Chair of the Real Estate Roundtable’s newly created Equity, Diversity and Inclusion Committee, Mr. Blau said, “As leaders, it is our obligation to enact fundamental change. I am honored to chair the ED&I committee and am eager to listen and be guided by diverse voices and perspectives as we work together to promote an industry that is reflective of the society we live in.” 

Roundtable Present and CEO, Jeffrey D. DeBoer commented, “I am delighted with these Board leadership decisions and, in particular, I look forward to implementing recommendations from our ED&I Committee that will help advance equal economic opportunities for all.” 

The Real Estate Roundtable brings together leaders of the nation’s top publicly-held and privately-owned real estate ownership, development, lending and management firms with the leaders of major national real estate trade associations to jointly address key national policy issues relating to real estate and and its important role in the global economy.  The Roundtable’s policy agenda, annual report and policy digest are available on The Roundtable website.

The Roundtable’s membership represents nearly 3 million people working in real estate; approximately 12 billion square feet of office, retail and industrial space; more than 2 million apartments and nearly 3 million hotel rooms.  The collective value of assets held by Roundtable members is estimated at $3 trillion.  

#  #   #

Roundtable Board of Directors Approves RER Leadership; Establishes Equity, Diversity and Inclusion Committee

Posted on by Trey Jackson

Deb Cafaro and John Fish remote RER meeting

The Real Estate Roundtable’s 24-member Board of Directors has approved John F. Fish (CEO & Chairman, Suffolk), above right, as the organization’s Chair-Elect, to begin his term as Chairman of the Roundtable in mid-2021.  The Board also approved, effective immediately, Jodie W. McLean (CEO, Edens) as its Secretary and Jeff T. Blau (CEO, Related Companies) as the Chair of the organization’s newly established Equity, Diversity and Inclusion (ED&I) Committee.

  • Chair-Elect Fish will succeed current Roundtable Chair Debra A. Cafaro (Chairman and Chief Executive Officer, Ventas, Inc.), above left, whose term expires July 1, 2021.  “The Board of Directors of The Real Estate Roundtable is excited to announce John Fish as our Chair-Elect and Jodie McLean as our Secretary,” said Cafaro.  “John has been an active Board member and has played a key role in developing our policy agenda.  He is active on a bipartisan basis with policymakers, and his experiences and accomplishments across business, government and philanthropy give John a broad perspective that will benefit the Roundtable and our members.  John’s emphasis on labor force issues, infrastructure, and the need to level the educational and economic opportunities for all Americans are particularly relevant as The Roundtable develops and advocates fact-based policies that create jobs and inclusive economic growth,” Cafaro added.
  • Mr. Fish stated, “I am honored to have the opportunity to serve as Roundtable Chair-Elect, work with the talented team and follow Debra Cafaro’s impressive record of policy accomplishments in Washington.  I have seen the effectiveness of the organization in advocating shared industry concerns to lawmakers and regulators, and strongly believe it is essential for The Real Estate Roundtable to continue its engagement at all levels of policy-making as the nation comes together to address new economic, societal and health challenges.”  (Roundtable news release, Sept. 30 and Roundtable video)About Fish and McLean

    EDENS CEO Jodie McLean

  • Mr. Fish is the Chairman and CEO of Suffolk, which is a national real estate and construction enterprise that invests, innovates and builds, providing value throughout the entire building lifecycle. Suffolk is one of the largest builders and privately held companies in the country, with main offices in the Northeast, New York, Florida, Texas and California. The company services clients in the aviation/transportation, science and technology, mission critical, commercial, education, healthcare, gaming and government sectors.  Mr. Fish is a former Chair of the Federal Reserve Board of Boston, current Chair of Brigham and Women’s Hospital and member of the Mass General Brigham’s Executive Committee, and is serving his second term as Chairman of the Board of Trustees at Boston College. 
  • Jodie W. McLean, above, is Chief Executive Officer of EDENS, one of the nation’s leading private owners, operators and developers of retail real estate.  She is responsible for EDENS’ strategy to move the portfolio to major urban centers, creating a portfolio of assets that are the center of community life.  Ms. McLean currently serves on the Board of Directors of the Federal Reserve Bank of Richmond.  She also serves on the boards of Cushman & Wakefield and Extended Stay America, as well as boards of several other institutions and charities. Equity, Diversity and Inclusion Commitment of RER

    Debra Cafaro, Ventas and Jeff Blau, Related

  • On his appointment as the Chair of the Real Estate Roundtable’s newly created Equity, Diversity and Inclusion Committee, Mr. Blau, above right,  said, “As leaders, it is our obligation to enact fundamental change. I am honored to chair the ED&I committee and am eager to listen and be guided by diverse voices and perspectives as we work together to promote an industry that is reflective of the society we live in.” 

Roundtable Present and CEO, Jeffrey D. DeBoer commented, “I am delighted with these Board leadership decisions and, in particular, I look forward to implementing recommendations from our ED&I Committee that will help advance equal economic opportunities for all.”  (Roundtable news release, Sept. 30) 

 #  #  #

Real Estate Roundtable Re-Elects Cafaro as Chair, Approves Five New Board Members; 2020 Annual Report Focuses on National Recovery

Posted on by Trey Jackson

Real Estate Roundtable FY 2021 Board of Directors - image

The Real Estate Roundtable’s membership has re-elected Debra A. Cafaro (Chairman and Chief Executive Officer, Ventas, Inc.) as Chair, while approving five new members for its Board of Directors who will serve during the organization’s 2021 fiscal year (July 1, 2020 – June 30, 2021).

  • Roundtable President and CEO Jeffrey DeBoer presented the election results and the organization’s FY2020 Annual Report, Leading Though Crisis, during The Roundtable’s June 11 Annual Meeting. 
  • The 24-member FY2021 Board is elected from the membership and includes five elected leaders of national real estate trade organizations from The Roundtable’s 19 partner associations.  
  • Cafaro, whose three-year term as chair began July 1, 2018, said, “We are delighted to welcome five industry leaders to The Real Estate Roundtable Board.  Their outstanding backgrounds, broad industry representation and diverse experiences will enhance our ability to act as the cohesive industry voice addressing key national policy issues relating to real estate and the overall economy. With our existing Board members, we also intend to drive constructive solutions to economic challenges created by the COVID-19 and racial injustice, both of which are crucial to our society, the national economy, local communities and our industry.
  • I also sincerely thank our Board members whose terms have expired.  They have made significant contributions to the industry and we look forward to their continued engagement with The Roundtable,” Cafaro said. 
  • DeBoer stated, “Roundtable members are among the most talented and innovative industry leaders.   Our Board of Directors represents all major industry activities and is diverse geographically, racially and by gender.  The Board’s strategic and organizational decisions are thus sustainable, practical and inclusive.  I look forward to continuing to follow the Board’s recommendations as we continue our fact-based analysis of overall economic and industry specific policy issues.” 
  • Joining The Roundtable’s Board of Directors as of July 1 are:

National Recovery & Leading Through Crisis

Jeffrey DeBoer addresses how policymakers and the industry can move forward in the wake of the COVID-19 Pandemic in a July 10 CBRE podcast with Brian Stoffers, Chairman of the Mortgage Bankers Association and Global President of Debt & Structured Finance, CBRE.

  • DeBoer states in Public Policy in the Age of COVID: Shaping the CRE Recovery, “…look at what Washington has tried to do … building a bridge, in a sense, a bridge to get people and businesses to a point where they return to some semblance of normalcy. And the problem … is the bridge going to get us there as it’s currently constructed? Is it long enough? Is it strong enough?”

  • He adds, “…there’s a great deal of concern about that because the PPP – the Paycheck Protection Program – that helped people pay their rent and the unemployment and the supplemental … will it burn off at the same time that the economy regenerates itself? Or will there be this lapse? And if there is a lapse, that’s really the focus, I think, of a great deal of concern right now.”

The Roundtable has also released its FY2020 Annual Report – Leading Though Crisis.

  • Chair Cafaro states in the report that as The Real Estate Roundtable beings its 21st year of industry policy work, the nation’s economy is in deep distress due to the COVID-19 health crisis and Americans’ civil protest is a justified expression of anger and frustration around racial injustice. 

  • “We pledge to take action and be part of the solution,” Cafaro states.  She adds that there is much to be done on the policy front ahead: “Although the challenges in these times are unprecedented, our response is based on the same longstanding commitment to sound, evidence-based, nonpartisan policy that undergirds all of our work and success. We know from experience that there is a path to recovery.”

The Roundtable’s Meeting Calendar for FY2021 is now available.  The next Fall Roundtable Meeting on September 22 is for Roundtable-level members only.  Registration forms for the remote meeting will be sent directly to members. 

#  #  #

Treasury Secretary Mnuchin and Industry Leaders Address Coronavirus Policy Response, Racial Injustice, and Reopening Challenges

Posted on by Trey Jackson

RER 2020 Annual Meeting visual

The Real Estate Roundtable’s first Virtual Annual Meeting this week attracted nearly 300 Roundtable members who remotely accessed discussions with Treasury Secretary Steven Mnuchin and industry leaders on COVID-19 policy responses, racial injustice and business reopening challenges.  The Roundtable’s policy advisory committee meetings also held their first remote meetings to analyze policy issues in the tax, capital and credit, sustainability and homeland security areas with subject matter experts from Capitol Hill, federal agencies and the private sector.  

  • Roundtable Chair Debra Cafaro (Chairman and CEO, Ventas, Inc.) launched the business meeting yesterday, noting the June 9 statement on racial injustice she issued with Roundtable President and CEO Jeffrey DeBoer.  (See related story below for more details)
  • Cafaro noted The Roundtable’s intense focus on the economic repercussions of the coronavirus.  She explained how the organization has successfully pivoted its focus to advocating policies that support economic recovery, including a pandemic risk insurance program modeled after TRIA; ongoing efforts to reform the Paycheck Protection Program; Federal Reserve credit lending facilities that accommodate CMBS; and federal efforts that could preserve the “rental obligation chain.”

  • Cafaro also announced that four individuals will join The Roundtable’s Board of Directors and three current Directors will depart, effective July 1.  The new Board Members are:
  • The exiting Board Members, who Cafaro thanked for their accomplished service, are:


Policy Issues & Featured Speakers   
The Roundtable’s June 11 Annual Business Meeting included the following speakers: 

  • Treasury Secretary Steven Mnuchin discussed the Administration’s work with Congress to address the economic fallout from the outbreak with The Roundtable’s Jeffrey DeBoer. Secretary Mnuchin emphasized how recent improvements to the Paycheck Protection Program (PPP) has helped small business borrowers deal with the economic impact of the global pandemic.  He added that the Administration is also considering business liability protections and pandemic risk insurance.
  • Citi’s Vice Chairman Raymond McGuire discussed “Real Estate’s Role in Addressing Racial Injustice” with Roundtable Immediate Past Chair William Rudin (Co-Chairman and CEO, Rudin Management Inc.).  McGuire noted that fortunate opportunities for an excellent education is what made the difference in his life experience and that providing similar opportunities to African American youths is of vital importance. 

  • “Reopening the Economy, Returning to the Workplace, Reinforcing Health Protections” panel featured leading industry executives discussing reopening strategies, operational protocols, potential liability concerns and more.  The discussion is available to stream at your convenience.  Separately, Roundtable Board Member and Sustainability Policy Advisory Committee Chair Tony Malkin (Chairman and CEO, Empire State Realty Trust, Inc.) was interviewed on CNBC this week on safety protocols and other measures that can be utilized for reopening businesses.  (CNBC interview, July 9)

  • Governor Jared Polis (D-CO) focused on Colorado’s approach to managing the outbreak, as it has recently reopened most businesses while practicing social distancing.  In his video interview, “States Set the Pace,” Gov. Polis discusses how state government can work with the real estate industry on practical safety measures to help businesses looking to reopen.

  • Dr. Scott Gottlieb, former Food and Drug Administration Commissioner (2017-2019) and Roundtable Chair Debra Cafaro discussed medical aspects of the novel coronavirus and his health policy perspectives on the crisis.  Dr. Gottlieb noted, “We still have a slowly expanding epidemic in the United States” that has a high case fatality rate.  He added that the world could see multiple vaccines with some targeting specific populations based on age or other factors.

  • Charlie Cook, Editor and Publisher of the Cook Political Group, outlined the dynamics of the upcoming election cycle during a health pandemic and economic downturn. Cook emphasized the importance of approximately 5 percent of independent voters who will make a choice in an election without third-party candidates. 


Roundtable Policy Committees 

The Roundtable’s Policy Advisory Committees and associated task forces also met remotely in conjunction with the Annual Meeting, offering a combination of live and recorded presentations for participants.  A video featuring all Roundtable Committee Chairs providing updates on each committee’s policy efforts is available on The Roundtable’s youtube channel.  

This week’s committee meetings analyzed policy issues in detail with high-level congressional and agency staff:

  • Research and Real Estate Capital Policy Advisory Committee (RECPAC):
    Rep. French Hill (R-AR), who serves on the House Financial Services Committee and the Congressional Oversight Commission on the CARES Act, provided insights on recent and future COVID-19 economic relief and stimulus during this joint committee meeting.  Additionally, industry experts discussed the state of real estate capital and credit markets, including the Fed’s Term Asset-Backed Securities Loan Facility (TALF). 
  • Tax Policy Advisory Committee (TPAC):
    House Ways & Means Chief Tax Counsel Andrew Grossman joined TPAC to share his perspective on committee priorities and the tax legislative outlook.  A panel of leading real estate tax authorities also discussed legislative proposals focused on the current distress in U.S. real estate – particularly debt restructurings, impaired rent and cancellation of indebtedness (COD) income.  Additional wide-ranging tax policy TPAC discussions are available on demand: 

  • Sustainability Policy Advisory Committee (SPAC):
    U.S. Environmental Protection Agency speakers provided an update on the ENERGY STAR certification program and its Portfolio Manager Benchmarking tool in the Covid-19 Era.  EPA and the Centers for Disease Control and Prevention (CDC) speakers discussed “Reopening Guidance for Cleaning and Disinfecting Workplaces.”  SPAC members also focused on “Healthy Building Strategies in a Global Pandemic” with the senior executives from the Center for Active Design and the International WELL Building Institute.  
  • Homeland Security Task Force meeting (HSTF) and Risk Management Working Group (RMWG):
    The joint meeting attendees heard briefings by government officials on the threat of civil unrest, looting, homegrown violent extremists and organized attacks on commercial properties – and the security, management and health challenges related to building re-entry.  The Task Force was also briefed on the need to enact a federal business continuity/pandemic risk program aimed at providing capacity for policyholders in need of insurance protection from the enormous costs associated with pandemics.

Next on The Roundtable’s meeting calendar is the September 22 Fall Meeting, which is restricted to Roundtable-level members only.  The Roundtable has also posted its 2021 meeting calendar dates.

#  #  #