Baltimore State of the Market

MaryAnne Gilmartin is the Founder and Chief Executive Officer of MAG Partners, a New York-based real estate development company she founded in 2020. Most recently, MaryAnne also served as interim Chief Executive Officer and Chair of the Board of Directors of Mack-Cali Realty Corporation. Prior to founding MAG Partners, MaryAnne was CEO of L&L MAG. After a successful two-year partnership with L&L, MaryAnne spun out of L&L MAG to launch her own firm, MAG Partners. The company is currently developing a 480-unit residential building in Chelsea, designed by acclaimed architect COOKFOX. MaryAnne previously served as President and CEO of Forest City Ratner Companies, where she oversaw a period of game-changing ground-up development and managed its multimillion square foot residential, commercial and retail portfolio. In her tenure at Forest City Ratner Companies, MaryAnne spearheaded the development of some of the most high-profile real estate projects in New York City. She led the efforts to build Barclays Center, the state-of-the-art sports and entertainment venue and the centerpiece of the $4.9 billion, 22-acre mixed-use Pacific Park Brooklyn development. She also oversaw the development of The New York Times Building, designed by world-renowned architect Renzo Piano; New York by Gehry, designed by award-winning architect Frank Gehry; and the Tata Innovation Center at Cornell Tech, a new office building that is a first-of-its-kind space for tech innovation, designed by Weiss/Manfredi on Roosevelt Island. MaryAnne is a civic leader in the New York metropolitan area, serving as Chair Emeritus of the Downtown Brooklyn Partnership, member of the Executive Committee of The Brooklyn Academy of Music, member of the New York Public Radio Board of Trustees, member of the Executive Committee and Board of Governors of The Real Estate Board of New York, and part of the Industry Advisory Board of the MS Real Estate Development Program at Columbia University. In addition to her civic and industry board service, MaryAnne was appointed a member of the board of directors of the global investment banking firm Jefferies Group LLC in 2014.

Thomas E. D. (“Ted”) Millspaugh is chair of Venable’s Real Estate Group. Ted oversees the group’s lawyers in all of the firm’s offices and has a national practice of his own. Handling transactions in most of the major metropolitan areas in the United States, he has a broad knowledge of real estate law and extensive experience with all types of complex real estate transactions. He also participates in several important national real estate associations and has numerous legal and non-legal contacts throughout the industry. Ted represents some of the world's largest investment management firms and their pension fund, foundation, and other investors in real estate transactions. He also represents financial institutions, developers, and individual entrepreneurs and investors who have real estate holdings. The list includes LaSalle Investment Management, Realterm Logistics, Strategic Financial Management, Invesco Ltd., Universal Investment and Global Endowment Management. Ted's experience includes all aspects of the cycle of a real estate transaction: investments, structuring and joint ventures; acquisition, development, and construction; financing (originations and workouts); leasing and management; and sale and disposition. He spent significant time in his early years as a land use lawyer and as a bond finance lawyer, which informs his current practice and enhances his comprehensive knowledge of real estate projects. Ted's experience also includes extensive involvement with four major property types: office projects, industrial projects, retail centers, and multifamily projects. He also has experience with other, more specialized property types, such as senior living (including comprehensive care) projects, hotel and resort properties, and aviation facilities. In many cases, he has handled mixed-use projects that involve combinations of more than one different property type. Through all this experience, Ted has developed a thorough knowledge of the interrelationships between different aspects of complicated building structures and designs. The unusually broad and deep scope of Ted's experience enables him to provide valuable, well-rounded advice to his clients and to solve their most important challenges.

Kate Paine is a Research Manager for JLL in Baltimore. In this role, Kate leads the office, life science, and retail research efforts in Baltimore, using data to analyze market conditions and effectively tell a clear and accurate story about the local market. Kate received her B.A. in Urban and Regional Planning from the University of Illinois at Urbana-Champaign and later earned a MSRE from Georgetown University.

Bill Struever is a visionary real estate pioneer who has spent his entire career finding creative ways to re-imagine urban properties. He has extensive experience in developing and evaluating economics of real estate transactions and ROI, preparing and evaluating financial proforma, public private partnerships, and funding and investment strategies. At Cross Street Partners, Mr. Struever is responsible for the company’s new business pipeline for real estate development and tax credit consulting services, sustainable construction practices, and strengthening public/ private relationships. In 1974 Mr. Struever founded a company that would become Struever Bros. Eccles & Rouse (SBER). The nationally-acclaimed development, construction and property management company’s legacy was to adapt and reuse economically obsolete industrial buildings and reclaim under-productive urban brownfields. Struever has played a key role in sustainable development through his passion, creativity and commitment to rebuilding cities. In 2010 Mr. Struever wound down the operations of SBER and formed a new partnership with former executives, Cross Street Partners. Cross Street Partners has built on the legacy of SBER with a fresh focus on revitalizing urban neighborhoods around centers of innovation and entrepreneurship. Bill Struever was the driving force behind community revitalization efforts that bolstered entire neighborhoods and extended beyond individual projects. Struever played a key role in sustainable development through his passion, creativity and commitment to rebuilding cities. His vision is to lead the country in Green urban revitalization, setting new LEED certified standards for all new projects. Mr. Struever has received numerous awards for his business leadership and devotion to urban communities, education, the environment, and arts. Recently, he accepted the prestigious Urban Land Institutes’s Award of Excellence for the preservation and redevelopment of Clipper Mill in Baltimore, Maryland.

John Hermann is vice president of asset management and leasing for Corporate Office Properties Trust and has more than 25 years of commercial real estate experience. He is responsible for the leasing and financial management of a portfolio of 40 buildings, located throughout Maryland, totaling more than 3 million square feet.

Adam is the Vice President of Sales for Vari, the workspace innovation company that offers flexible furniture solutions to create workspaces that elevate people. As Vice President of Sales, Adam leads the national business development team with a primary focus on commercial real estate and strategic partnerships. Adam joined Vari in July 2018 and has quickly proven his value as a leader in this sector. With his experience in commercial real estate and relationship building, Adam has helped launch Vari into 15 markets across the United States. His knack for building highly effective teams started with his experience in the United States Marine Corps and it carried into his 12-year stint in the communications industry. Prior to joining Vari, Adam spent time in managed services, building international sales and business development teams. Today, in his spare time, Adam loves traveling to play golf with his dad and enjoys spending time with his wife and three daughters.

As Chief Customer Officer (CCO), Jackie manages and directs the company’s Customer Organization, consisting of Sales, Account Management, Sales Operations, Marketing, Communications and Government Affairs. Her primary focus is establishing a customer-centric mindset across the organization to better align sales and customer service and network densification. With nearly 20 years of experience, Jackie is a strategic global executive who has a passion for leading teams to exceed ambitious marketing, sales and financial targets. She has served as head of multiple divisions for large energy companies, including Enel X (formerly EnerNOC) and National Grid. Jackie is also a founder, former president, and current board member of the Boston Chapter of the Women’s Energy Network. She earned her MBA in Management and Finance from the New York University Leonard N. Stern School of Business, as well as a master’s degree in Public Administration in Energy Policy & Management from the School of International and Public Affairs at Columbia University. She received her bachelor’s degree in Political Science from Columbia University.

Scott Slosson serves as Chief Operating Officer for 28 Walker Development, a Baltimore based development company with a focus on smart urban infill development. 28 Walker Development is best known for its transformational redevelopments of former industrial sites into thriving commercial destinations including McHenry Row, Canton Crossing and the Collective at Canton. As Chief Operating Officer, Slosson oversees all aspects of development and asset management for 28 Walker Development. In Slosson’ s 13 years of development experience, he has been involved in the development and management of more than $450,000,000 of commercial development in Baltimore City. Slosson received his B.S from the Robert H. Smith School of Business at the University of Maryland College Park. He later earned an MSRE from Johns Hopkins Carey School of Business.

Daniel Bythewood, Jr., President and Co-Founder, is also Managing Partner of La Cité Development, LLC, a privately held real estate development firm specializing in residential and mixed-use multi-family development as well as mixed use residential/commercial properties. Mr. Bythewood is responsible for all aspects of development and finance inclusive of raising private capital for his development projects which span from ground-up new construction to acquisition rehab properties, Mr. Bythewood is global and seasoned entrepreneur in the United States, Montenegro, Ghana, and other territories within Europe, and Africa. He has extensive experience in the real estate development and investments within numerous markets. Over the past 15 years he has developed, financed, constructed, structured debt and awarded grants, negotiated partnerships, public/private partnerships, and closed senior loans for his real estate development projects. Mr. Bythewood has also overseen the master planning of entire urban communities, that legislated structured TIF and Pilot agreements for his developments. Mr. Bythewood has overseen developments from initial concept through construction completion, renovation and lease-up of properties ranging from Harlem, through Baltimore and Long Island. Prior to founding La Cité Development, Mr. Bythewood Jr. was an Acquisitions Manager at New York Equity Fund(NYEF), a division of the National Equity Fund, the largest syndicator of tax credits in the 1990s in New York City. While at the NYEF, Mr. Bythewood managed the financing and administration of large development and disposition programs within the NYC Department of Housing Preservation and Development for its main disposition programs: Neighborhood Redevelopment Program (NRP), Neighborhood Entrepreneurs Program (NEP), and Neighborhood Homes Program (NHP). Many of the projects developed by NYEF involved the rehabilitation of both vacant and occupied buildings, with several projects requiring substantial relocation of building residents. These projects, located within the Central Harlem and Brooklyn neighborhoods, that served as catalysts for the redevelopment of these neighborhoods. He was also in charge of the $1.5 billion dollar portfolio where he managed the investment in excess of $150 million in tax credit equity. The multi-faceted nature of managing NYEF’s tax credit portfolio allowed Mr. Bythewood to fully utilize the skills he gained from overseeing: joint venture partners, public-private partnerships, complex financing structures, institutional banking relationships, traditional and non-traditional lenders, tax credit allocating agencies, and city governments. He is also an advisory board member of Carver bank and was a member of the CGNY (NY citizens budget committee for 4 years).

Dan Flamholz is the co-founder of Greenspring Realty Partners which is a vertically integrated real estate investment company. Dan focuses on industrial acquisitions and development work up and down the east coast and handles all aspects of his company's day to day operations.

Sam Himmelrich, Jr. is the President of Himmelrich Associates, Inc. Himmelrich Associates, Inc. has performed adaptive reuse of large industrial properties. It pursues projects with significant obstacles, including brownfields, flood plains, historic buildings, difficult neighborhoods, unproven markets, as well as environmental challenges.

Steve Wolf handles a large number of audit and review engagements and is also involved with providing tax compliance and strategic planning for clients of the firm. He is knowledgeable in a wide variety of industries, with a concentration in real estate, government contractors, restaurants and franchisor businesses. Outside of work, Steve is very involved in community service, as a board member and volunteer for multiple organizations. You can find him on the ice every Saturday morning between October and March, serving as a mentor and coach with Baltimore Area Special Hockey, an ice hockey program for both children and adults with a traumatic brain injury or intellectual disability such as Autism and Downs Syndrome. PROFESSIONAL EXPERIENCE: • Assisted multiple clients in identifying and recognizing available tax credits resulting in significant tax savings • Implemented period accounting system to help companies in the hospitality industry more accurately measure sales trends, and streamline closing procedures • Developed interactive pro forma financial models to help clients visualize and evaluate the impact of planned growth and changes to their existing business BACKGROUND: • Licensed CPA in the state of Maryland • B.A., Business and Economics, Randolph‐Macon College THOUGHT LEADERSHIP: • “How the New Tax Law Impacts Your Business” 2018 Breakfast Bar Speaker Series (Hosted by Linda Ostovitz of Offit Kurman) • “4 Things All Restaurants Should Consider” A 4 part thought leadership series published by bgrCPA’s