EY - Global Market Outlook for Real Estate Funds

EY Real Estate, Hospitality and Construction webcast

Global Market Outlook for Real Estate Funds

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Real estate investors should look ahead to 2017 with some caution about many of the sector's key metrics and indicators, according to recently released 2017 Global Market Outlook. Fundraising is down, and the real estate market may be about to turn, although investors still have a variety of opportunities available to them in markets across the globe. The industry is also being shaped by factors including Brexit, a new US president and BEPS legislation, as well as trends towards outsourcing and the integration of disruptive technologies into the business model.

With these factors considered, the industry faces some headwinds as it matures and investors look for opportunities in new and unfamiliar markets. Join a panel of EY professionals as they discuss:

  • How the global macroeconomic and political environments are likely to affect the real estate funds sector
  • The impact of trends towards outsourcing and the integration of disruptive technologies into daily operations
  • The evolving tax landscape and the effects of BEPS legislation on investors
  • New proposed audit partnership rules and reporting updates

Panelists

EY - Jamila Abston

Jamila Abston

EY

Jamila Abston is a Partner in the Financial Services Office – Wealth and Asset Management practice of Ernst & Young LLP.  Jamila recently rejoined EY from the U.S. Securities and Exchange Commission, where she served as the Assistant Regional Director for the Office of Compliance Inspections and Examinations.

In this role, Jamila served as an expert advisor for the SEC Examinations program, specializing in compliance program effectiveness, risk analytics, enterprise risk management, and cybersecurity for the asset management industry.  She led and participated in hundreds of Examinations and Enforcement investigations of investment advisers, investment companies, broker-dealers, transfer agents, and other industry participants.

Prior to her position with the SEC, Jamila was a Manager in the Fraud Investigations and Dispute Services practice of Ernst & Young LLP where she led restatements, investigations, and litigation support matters for healthcare, manufacturing, government, and technology clients.  Jamila provides coverage on key wealth and asset management accounts with increased risk and compliance service capabilities, especially involving the Investment Company Act, FINRA regulations, Dodd-Frank regulatory reform, and the recent SEC Modernization rule.

EY - David Frankel

David Frankel

EY

David Frankel is a Partner in the Assurance practice of Ernst & Young LLP’s Real Estate, Hospitality and Construction group. David has more than 23 years of experience serving clients in the real estate and financial services industries, including numerous global and domestic real estate opportunity funds.

David's additional experience includes due diligence in connection with property acquisitions and securitizations, litigation support for several real estate property owners, agreed upon procedures to ascertain accuracy of opportunity fund performance, agreed-upon procedures to ascertain compliance with contractual agreements and modeling of cash flows in accordance with partnership agreements.

David is a Certified Public Accountant in New York and New Jersey. He is a member of the American Institute of Certified Public Accountants, New York State Society of Certified Public Accountants, and the Urban Land Institute. He has held various leadership positions within the New York District Council of the Urban Land Institute. He received his B.S. in accounting from Yeshiva University.

EY - Josh Herrenkohl

Josh Herrenkohl

EY

Josh Herrenkohl is the EY Global Real Estate, Hospitality and Construction Advisory Leader. He also oversees all aspects of Ernst & Young LLP’s corporate real estate, construction and real estate investor advisory services.

Josh is experienced with cost reduction, risk mitigation, strategy, and technology. He also advises on operational Improvement services to corporations, public sector organizations, real estate private equity funds, REITs, operators, developers, and institutional investors. He has nearly 20 years of experience serving real estate and construction organizations based in the US and internationally.

Josh earned his Bachelor’s Degree from Miami University. He is a frequent public speaker and author of industry publications.

EY - Matt Maltz

Matt Maltz

EY

Matt Maltz is a Partner in Ernst & Young LLP’s Tax practice based in London. He has a senior role in advising on tax planning and big ticket cross border transactions for major corporate institutional investors and funds. Matt has 21 years of experience advising on tax issues.

Matt’s experience includes closing funds, where he assists with structuring the fund and implementing strategies in order to limit tax leakage. He also has experience in tax planning, helping major corporations review their holding structures and introduce tax efficiencies. Matt also works in transaction advisory, where he focuses on tax-efficient and diligence structuring.

Matt presents regularly at conferences including the IMN and PERE industry leading conferences in London.

EY - Robert Schachat

Robert Schachat

EY

Robert Schachat leads the Real Estate Group in the National Tax Department of Ernst & Young LLP in Washington, D.C. He consults with clients in all federal income tax aspects of real estate, including REIT, partnership, limited liability company and corporation formations, acquisitions, like-kind exchanges, development, leases, financings, workouts, dispositions and liquidations.  Bob’s experience also includes extensive involvement in the negotiation and drafting of all types of partnership agreements, LLC operating agreements, and corporate shareholder agreements.  He also advises clients on a regular basis in monitoring federal legislative and regulatory activity in the real estate area.

Bob has served as Vice Chair of the Tax Policy Advisory Committee of the Real Estate Roundtable and is a past co-chair of the Cost Recovery Committee and member of the Executive Committee of the Tax Section of the New York State Bar Association. 

Moderator

EY - Mark Grinis

Mark Grinis

Partner, Ernst & Young LLP

Mark Grinis is a Partner in the assurance practice of Ernst & Young LLP’s Real Estate, Hospitality and Construction sector group and is also the EY Global Real Estate Funds Leader. He has more than 30 years of experience, and has served as lead advisor on over US$50 billion of transactions.

Mark is currently is the audit partner for real estate funds with an aggregate US$100 billion of assets under management. He previously resided in Japan, where he helped establish the EY Asia Pacific real estate practices. His clients included the largest J-REITs, securities firms, the Japanese government, and the largest city banks and insurance companies.

Mark received Bachelors of Arts Degrees in Economics and Accounting from Claremont McKenna College. He is a licensed CPA in the states of New York, Georgia, and California, and is a member of the American Institute of Certified Public Accountants.