In an attempt to connect international and global concerns to local real estate and finance, the Center for Real Estate at Rutgers University hosted two panel discussions and two keynote speakers Tuesday at the Hilton in Short Hills.
Julia Coronado, founder and president of Macro Policy Perspectives, said that, from a broad perspective, the flow of capital has been altered by investors in China and in Europe.
“The conference was structured to approach the allocation of capital to real estate from a global perspective down to a local perspective,” Kevin Riordan, executive director of the Center for Real Estate, said. “For anybody who is interested in how capital is deployed in real estate, whether it’s buying, selling or lending, a number of perspectives were given.”
Kenneth Caplan, senior managing director and global chief investment officer for real estate at Blackstone, was the second speaker at the conference and talked about how global politics has affected the work he and Blackstone are able to do.
“There is an unprecedented turmoil in China and in Europe, and the political and economic situation in the U.S. is very unsettled,” Rutgers professor and panel moderator Morris Davis said. “These developments have added both downside and upside risk to yields and pricing for real estate. For this reason, the allocation and availability of capital right now is the single most important thing we can talk about with our advisory board, our emerging leaders and the real estate industry in New Jersey.”
Davis moderated the second panel discussion, which focused on the allocation of capital from a regional perspective. The panel consisted of the CEO and president of Investors Bancorp, Kevin Cummings; the CEO of Sussex Bancorp, Anthony Labozzetta; the chairman, CEO and president of Provident Bank, Chris Martin; and a senior vice president at M&T Bank, Paula Mandell.
Riordan; a senior managing director at Principal Real Estate, Todd Everett; a managing director at MetLife Real Estate, Mark Wilsmann; and the PGIM Real Estate managing director and head of the Americas, Kevin Smith, provided a national perspective on lending and real estate investment at the conference.