Los Angeles State of the Market

Nadine Watt is CEO of Watt Capital Partners. Nadine brings over 25 years of real estate expertise and an entrepreneurial drive to her position, where she oversees day-to-day activities and strategic planning for all commercial investment activities including acquisitions, development, and asset management for the company’s 6 million- square-foot portfolio. Previously, Nadine served as President of Watt Companies. In 2011, she led a strategic reorganization of the company that moved the firm beyond traditional property management and leasing to a focus on acquisitions and real estate development, as well as joint venture opportunities. Nadine played a key role in launching Watt Companies’ acquisition division – Watt Investment Partners – that now actively invests $60 million in a variety of property types across the Western United States. Throughout her 20-year tenure at Watt Companies, Nadine has touched all facets of the company’s operations, including the development of thousands of apartment units and numerous shopping centers. Nadine was also responsible for a widely celebrated multi-million-dollar renovation program at Watt Plaza, a 920,000 square foot, Class-A office building in Century City. The building was certified Platinum LEED and was recognized by BOMA International with an award for Outstanding Building of the Year. Nadine was recently inducted as the President of the University of Southern California Board of Governors and serves as Vice-Chair of the Lusk Center for Real Estate, as well as on the USC Associates Board of Directors. She was the first woman to be named Chair of the Los Angeles Business Council, a position she held for 7 years and is now the immediate past chair. She is a Board Member of Fisker Inc. (FSR) chairing the Compensation Committee, Visionary Women, and the City of Hope Los Angeles Real Estate & Construction Industries Council. Nadine received the Century City Citizen of the Year award in 2017 and the EY Entrepreneur of the Year award in 2018. Nadine has also been the subject of a spotlight piece in the Los Angeles Times highlighting her career path and business success. She has also previously held Board Positions on two other publicly traded companies, The New Home Company (NWHM) and 1 st Century Bank. A graduate of Georgetown University School of Foreign Service, Nadine also holds a Master of Arts degree from the School of Cinematic Arts at the University of Southern California. Nadine currently resides in Beverly Hills with her husband Andrew Jameson and their two daughters, Keira and Reese Jameson.

Kesha Fisher is a Director in Greystar’s Newport Beach office who oversees the firm’s Southern California fund of owned and JV development assets that span from Ventura to Downtown San Diego. Her current lease-up portfolio is valued in excess of $1 billion, and the development pipeline on which she is responsible for guiding Greystar’s development team is valued nearly $5 billion. Kesha operates a diverse team across all walks of life, and her leadership and vision during the COVID-19 pandemic has allowed the assets under her control to keep pace performance-wise. She is also one of a handful of leaders at Greystar that is working on a committee to address racial equality within the company, and the industry as a whole.

Ricardo Pagan is the founder of Claridge Properties, a 100% minority owned real estate investment and development firm. Mr. Pagan brings over 16 years of experience in real estate acquisition and development. Mr. Pagan is an established real estate developer, investor and operator with projects in Los Angeles, the New York City metro area, Detroit, Atlanta and Phoenix. Over the span of his career, Mr. Pagan has completed well over $1 billion in acquisitions and development of assets in his specified markets, encompassing more than 3,500 residential units and 500,000 square feet of office space.

Ryan has been with Hackman Capital Partners since 2012 and is responsible for acquisition, development, leasing and asset management for Western US assets. Ryan has overseen numerous marquee projects while at the company, including the development and leasing of The Culver Studios, The Culver Steps and the Beats Campus; and has negotiated lease transactions with Apple, Amazon, Macys and other Fortune 500 tenants. He has acquired and managed company-sponsored investments with over $1B of market value. Prior to joining Hackman Capital, Ryan worked for ten years in acquisitions and asset management for The Archon Group, a fully-owned subsidiary of Goldman Sachs. During his tenure at The Archon Group, he worked on the growth and management of its portfolio in the Western region of the United States. Following his time at The Archon Group, Ryan was Senior Vice President of SCI Properties and was responsible for the sourcing and acquisition of nearly $2B of product. Ryan most recently served as Director of Asset Management at TriCal Commercial Investments, where he was responsible for leasing and asset management of the company’s portfolio throughout the Western United States. Ryan received his Bachelor of Science from the Marshall School of Business at the University of Southern California, with a double emphasis in Finance and Marketing.

Ms. Thomez is the Vice President of Property Management for Prime’s flagship asset, Park La Brea. She joined Prime in 2021 and has over 18 years of experience in multi-family operations, asset management, and capital improvements. Ms. Thomez has her ARM and CPM certifications and is an active member of the Institute of Real Estate Management and the California Apartment Association. Prior to joining Prime, she worked for Greystar where she oversaw their Southern California region for their newly developed and owned assets.

Oli Barry is co-founder of Village Workspaces, a boutique flexible workspace designed for inspiring work. Village Workspaces is located in West Los Angeles. Originally from the UK, Oli has been involved in LA’s coworking industry since 2013. Oli is passionate about community, entrepreneurship, and he truly enjoys watching members of Village Workspaces thrive in their work environment. The success of Village members speaks for itself with groundbreaking cars being designed, award-winning TV shows and movies being developed, and millions of dollars being raised and made under one roof. Prior to his career in coworking, Oli had a successful career in film. As a director and showrunner, he has won a British Academy Award, a Grierson Award, and multiple TV nominations. He has also won an editing award at Cannes. His filming has taken him all over the world from filming gangs in San Salvador, to filming water in Rwanda, and to working extensively with the Prince of Wales. Oli is crazy about his family and is a little bit of a geek when it comes to Star Wars, James Bond movies, and David Bowie.

Carey is the Managing Principal of the Real Estate Industry. He has close to 20 years of experience providing accounting, assurance, tax, and consulting services to real estate industry owners, operators, family offices, developers and syndicators. Carey has a proven track record of helping clients build and retain capital by leveraging tax- and cost-saving strategies, including a wide range tax credits and incentives.

BRIAN SAENGER is the President and Chief Executive Officer of The Ratkovich Company, a Los Angeles-based real estate development company specializing in urban infill and historic rehabilitation of landmark properties. He previously served as the Company’s Chief Operating Officer and General Counsel and was responsible for overseeing the Company’s operations, including development management, property management, and legal and administrative functions. In 2021, Brian was named to the Los Angeles Business Journal’s list of 500 Most Influential People in Los Angeles. Brian joined the Company as the Vice President of Acquisitions and played a leading role in the Company’s acquisition of The Bloc, a 1.8 million square foot, mixed-use property in downtown Los Angeles consisting of retail, office and hospitality uses. He also represented the Company in the successful negotiation of a 50-year ground lease for the development of West Harbor (formerly known as the San Pedro Public Market), a $150 million transformation of a 42-acre site along the Los Angeles waterfront in San Pedro. Recently, West Harbor was featured in the Los Angeles Times for landing seven high-profile restaurant and entertainment leases during the pandemic. Prior to joining the Company, Brian served as the Company’s outside counsel when he practiced with the international law firms of DLA Piper LLP (US) and Pillsbury Winthrop Shaw Pittman. Brian serves on the Board of Directors for the San Gabriel Valley Economic Partnership. He is a member of the Urban Land Institute and serves on the Urban Development and Mixed-Use Council. He previously served on the Board of Directors for the California YMCA Youth & Government program and was a past Chair of the Board. Brian is a member of the State Bar of California and a licensed California real estate broker. Brian received his Juris Doctorate from Loyola Law School, Los Angeles, with honors, where he served as the Editor-in-Chief of the Loyola of Los Angeles Law Review. He received his Bachelor of Arts degree from the University of California, Los Angeles.

As a principal of DJM, Lindsay Parton directs Southern California property acquisitions and oversees all development and construction activities for the company. Parton leads DJM's highly skilled staff responsible for property entitlements, governmental and community relations, architectural and land planning, construction management, and positioning of ground-up and redevelopment properties. With more than 30 years in construction development, he was founder and chairman of Parton & Edwards Construction, a Santa Barbara company that has developed a broad range of residential, commercial, institutional and public works projects in excess of $300 million in value. With a fine-tuned antennae to consumers' ever-changing tastes and keen retail acumen, Parton brings a market sensitivity and mastery of all phases of development in the highly competitive, Southern California real estate environment. He holds a B.A. in Economics from Westmont College in Santa Barbara.

15-Year Commercial Real Estate Executive, specializing in - Institutional Leasing / Marketing / Sales / Acquisition, Asset Management Advisory & Development Advisory. Successfully negotiated over $375 million in real estate transactions, representing over 12,500,000 square feet of premiere office listing assignments across Southern California. Partnered with the industry’s leading brokerage, asset management, and operations teams in the leasing, marketing, repositioning, sales, and development of both institutional and corporate assets throughout Southern California. Collaborated daily with asset management teams to develop, implement, and achieve asset-level strategies to maximize asset/leasing performance and value. A known leader in production, execution, and strategic marketing implementation with the ability to establish a strong leasing presence in both new and existing markets through all business cycles.

Elmond is responsible for the overall strategic management and business operations of all projects in the Western United States. Elmond was instrumental in the construction of projects such as Disney Grand Central Creative Campus, the 705 W. Ninth Street (renamed: WaterMarke Luxury Apartments), a 35-story high-rise residential tower in Downtown Los Angeles, and The Westin Anaheim Resort. Under his leadership, KCS West continues to expand and provide first class, high quality construction services for their valued clients. Prior to joining Kajima in 2005, Elmond was the Vice President/Division Manager for Turner Construction Company. Throughout his 23 years with Turner, he was responsible for numerous iconic hi-rises and specialty buildings in Downtown LA and throughout Southern California. He was involved in projects such as the US Bank Tower, The Gas Company Tower, Biltmore Tower, Burbank Center and Art Center College of Design just to name a few. Elmond holds a Bachelor of Science degree in Construction Management and a Bachelor of Arts degree in Business Administration from University of Washington, Seattle and a Masters in Business Administration in Marketing from California State University, Los Angeles.

Gabriel Marquez is a partner in CohnReznick’s Real Estate Assurance practice with over 32 years of professional experience. He has served a variety of public and privately-held real estate and construction companies, including real estate developers/owners/operators, pension-sponsored and private equity real estate funds, homebuilders, engineering firms and contractors. Gabriel has extensive experience in GAAP technical matters, Sarbanes-Oxley Section 404 controls and SEC experience with both 1933 and 1934 Act Filings. He has led various client projects ranging from land development/construction cost and operational audits, contract claims resolution, mergers and acquisitions, and restructurings/reorganizations. He serves as a firm subject matter expert on contract accounting matters and has authored several industry-related articles. He has served as a National and Los Angeles Chapter Director for the Construction Financial Management Association (CFMA), and is a member of the American Institute of CPAs (AICPA) and California Society of CPAs. Gabriel has served as a Corporate Advisory Board member for the Association of Latino Professionals in Finance and Accounting (ALPFA).

Mr. Paul Daneshrad is the founder and Chief Executive Officer of StarPoint Properties, a private real estate investment firm, specializing in both commercial and multi-family properties. The firm’s expertise and niche is acquiring under-valued and mismanaged assets and dramatically increasing the value of these properties through repositioning, strategic leasing, rehabilitation and professional management. Mr. Daneshrad’s experience in the real estate field has been broad and deep, having been involved in the development, management and ownership of real estate since 1990. After graduating from California State University Northridge, Mr. Daneshrad founded StarPoint Properties, growing the company steadily over the years to include large apartment complexes, retail centers and office buildings as well as establishing a fully integrated property management division. Since its inception, StarPoint has acquired over 8,000 apartment units and 2.5 million square feet of commercial properties, totaling in excess of $1 billion worth of real estate. The company currently has a portfolio of approximately 2,800 apartment units and 2 million square feet of commercial properties. StarPoint was built on the foundation that property operations, management and a proprietary, disciplined acquisition strategy are the core competency of the business and Mr. Daneshrad has built a vertical firm whose management and departments excel at real estate execution. This is best exemplified by the firm’s track record and historical performance, which is 3rd party reviewed and published, delivering investors returns that far exceed most industry averages and alternate investment strategies. Mr. Daneshrad is considered an expert in the real estate investment community. He speaks at national conferences, is frequently quoted by and has written articles for several real estate publications including: Net Lease Forum, Multi-Family Executive, California Real Estate Journal, Multi-Housing News, National Real Estate Investor, Real Estate Southern California, and Commercial Property

Brent Wagner is a Managing Director of Capital Markets and Syndication, operating out of the firm’s Los Angeles office. Prior to his current role with ACORE Capital, Mr. Wagner was part of the originations team at Starwood Property Trust (ticker STWD), a public mortgage REIT that is externally managed by Starwood Capital. During his time at Starwood, Mr. Wagner also acted as an underwriter on many transactions ranging from $25mm - $750mm, and assisted on senior debt syndication efforts. Mr. Wagner evaluated, structured, and negotiated new loans in addition to conducting due diligence and credit work. Prior to joining Starwood Property Trust, Mr. Wagner worked at Countrywide Financial Corporation’s commercial real estate finance business that was launched in 2004. Countrywide Commercial Real Estate Finance experience included originations and underwriting for CMBS and balance sheet loans, as well as capital markets / pricing where he was responsible for pricing and structuring whole loan, mezzanine, and B-note investment opportunities. Mr. Wagner attended the University of Pennsylvania, receiving a Bachelor of Arts degree in Economics and a minor in Urban Real Estate and Development co-sponsored by the School of Arts & Sciences and Wharton.

Mr. Robert Sonnenblick, Principal of Sonnenblick, LLC, is a graduate of the Wharton School of Finance of the University of Pennsylvania with more than 30 years of experience in various aspects of real estate and real estate finance. From 1981 to 1991 Mr. Sonnenblick was the driving force and power behind Sonnenblick-Goldman Corporation of California. Mr. Sonnenblick completed over $1.5 Billion of commercial real estate transactions on the West Coast and as a result is regarded as one of the West Coast’s leaders in the field of commercial real estate. Among the more notable projects for which Mr. Sonnenblick personally structured the financing for are The Beaudry Center, Los Angeles, California ($197 million), the Ritz Carlton Hotel, Pasadena, California ($97 million), One Waterfront Plaza, Honolulu, Hawaii ($100 million), and the Los Angeles World Trade Center, Los Angeles, California ($55 million). In 1991 Mr. Sonnenblick was appointed Director of Development for the New Jersey and L.A. MetroMalls, with the responsibility for oversight and direction of the design, financing and leasing programs for two proposed $250 million enclosed regional malls totaling 1.2 million Sq. Ft. each. Mr. Sonnenblick personally oversaw more than 1 million Sq. Ft. of leases in connection with this position as well as arranging the necessary debt and equity financing. The New Jersey project opened to one of the strongest starts in the history of the United States mall industry. In addition, Mr. Sonnenblick was an original development partner of the Loews Santa Monica Beach Hotel. This 360-room, $90 million hotel was recently sold for $125 million. Prior to forming Sonnenblick Development, LLC, Mr. Sonnenblick was the senior partner in a Los Angeles-based real estate development firm (Sonnenblick Del Rio Development) which specialized in public-private partnerships, specifically the development of four major government-leased office buildings throughout the Los Angeles basin. During this tenure, Mr. Sonnenblick successfully developed nearly 1 million square feet of government leased buildings, occupied by such tenants as U.S. Department of Homeland Security, Federal Bureau of Investigation (FBI), Los Angeles County Sheriff’s Department, Los Angeles County Department of Public Social Services and Los Angeles County Department of Children and Family Services. Mr. Sonnenblick is a frequent speaker at various real estate-related functions, such as those hosted by Deloitte Touche, ICSC, Value Retail News, Crittenden, USC, UCLA Real Estate Program, IMN Real Estate Conferences and the Institute for International Research, The Opal Group, iGlobal Forum Group, Globe Street/Realshare Conferences and Bloomberg Conferences. Mr. Sonnenblick is a member of the Advisory Board of the Golf Development Institute, a member of the Board of Real Estate Council of the Century City Chamber of Commerce and is a published author on subjects ranging from architecture to general real estate market conditions. In addition to Mr. Sonnenblick’s expertise in development, finance, joint ventures and equity structuring, Mr. Sonnenblick has also been certified as an expert in the area of real estate bankruptcy/foreclosure. Mr. Sonnenblick is a qualified expert witness in the area of Commercial Real Estate Finance and Interest Rates for the United States Federal Court System in numerous jurisdictions.

Jim Kruse serves as the President of Brokerage for Kidder Mathews in Greater Los Angeles, managing strategic pursuits, client relations, and recruitment across multiple offices. With over 35 years of expertise in Southern California's commercial real estate, he is highly respected in the industry and sought after as a speaker for his compelling insights. Jim's extensive background includes leadership roles at CBRE and Grubb & Ellis, successful ventures at Cushman & Wakefield and as CEO of DPI Retail. Since joining Kidder Mathews, he has nearly doubled the region's broker count, reaching 104. His leadership led to opening a new office in San Fernando Valley, facilitating further expansion and recruitment. Jim's accolades include the Los Angeles Business Journal's Leaders of Influence 2023 and 2024 CRE Brokers Award and 2024 LA500. A native of Los Angeles, Jim's athletic achievements include representing the U.S. in water polo at the Olympics and serving as a commentator for NBC and ABC Sports.

Brian Kang, Chair of Greenberg Glusker’s Real Estate Group, has experience in a wide range of real estate transactions, including the acquisition, disposition, financing, and leasing of commercial, retail, multifamily, and industrial properties. Brian’s clients include real estate investors, developers, financial institutions, national universities, and REITS. Brian is also active within the Los Angeles community. He currently represents the Korean American National Museum on a pro bono basis as the museum’s real estate counsel. Brian has also been on the Board of Governors for the Korean American Bar Association of Southern California since 2013 and served as President of KABA-SoCal in 2018. Recognized for his work in Real Estate Law, Brian has been recognized in the Best Lawyers in America list since 2018 and in Southern California Super Lawyers since 2013. In 2021, Brian was also selected to Los Angeles Times’ Commercial Real Estate Visionaries List: Professional Service Advisors.

Mr. Grossman is a Senior Managing Director at Meridian Capital Group. He opened the firm’s San Diego office in May 2011 charged with expanding the company’s presence throughout the western and southwestern states. In his 10+ years leading the west coast for Meridian, Mr. Grossman has built a team that has originated and closed more than $12 billion of debt and equity transactions spanning more than 600 loans across primary and esoteric asset types. Prior to opening Meridian’s San Diego office, Mr. Grossman was a Structured Finance Analyst Fitch Ratings, a Principal at Mission Peak Capital, and worked in Meridian’s New York City office where he closed in excess of $3 billion. Mr. Grossman attended NYU, where he received a Bachelor of Science in Finance and Management. Industry Recognition: 2013: Named to Commercial Observer’s national list of “Top 20 Commercial Mortgage Brokers under 35” 2015: Named to Commercial Property Executive’s list of 17 national “Stars to Watch” in the real estate industry 2015: Named by Real Estate Forum as one of 20 “Tomorrow’s leaders of Southern California”

A native Angeleno, Ben Stapleton is a recognized sustainability leader, who brings to this position extensive experience and connections across real estate, technology and innovation. He launched and managed the La Kretz Innovation Campus in Downtown Los Angeles, most recently serving as SVP, Operations & Finance for the LA Cleantech Incubator (LACI). The Campus has become an epicenter for sustainability in the region featuring events with prominent local, national and international leaders, while being home to a community of cutting-edge businesses and nonprofits. At LACI, Stapleton led major operational growth, program development, and partnerships to triple revenue for the non-profit. Simultaneously, he helped lead efforts that resulted in the La Kretz Innovation Campus becoming an iconic green building for the Los Angeles Department of Water and Power and the City of Los Angeles, with multiple certifications, as well as pilot projects targeting waste, water, and energy efficiency. Stapleton has also held the positions of Managing Director of the LA Better Buildings Challenge and Vice President & Cleantech Practice Group Lead at JLL. He has served on the boards of LA Bioscience Hub and USGBC-LA. Representing competing schools in Los Angeles, Stapleton holds a MBA from the University of Southern California, Marshall School of Business, and a Bachelors of Arts degree in Economics from the University of California, Los Angeles.

Sara Neff is a Partner and General Manager of Sustainability for Microsoft's Cloud Operations + Innovation team. Prior to joining Microsoft, she was Head of Sustainability, Lendlease Americas, where she provided leadership and management oversight in developing, implementing and driving Lendlease's corporate sustainability framework in the Americas region. Prior to that role, she served as Senior Vice President, Sustainability at Kilroy Realty Corporation. Under her leadership, Kilroy was recognized as a leader among publicly traded real estate companies on sustainability in the Americas by GRESB for seven of the last eight years as well as being recognized by NAREIT, and achieved carbon neutral operations at the end of 2020. She is a LEED Fellow and holds a BS from Stanford and an MBA from Columbia Business School.

Heidi Creighton is the National Head of Sustainability for Skanska USA Commercial Development. As a passionate advocate and pioneer in the green building industry, Heidi serves as a thought leader and strategic driver of all initiatives and policies related to sustainability, across the company’s US portfolio. She is charged with identifying solutions that improve asset performance, energy management, community engagement and user experience while furthering Skanska USA Commercial Development’s Environmental, Social, and Governance (ESG) strategy. With a career spanning over 20 years, Heidi leverages her experience and holistic approach to sustainability by engaging with communities and occupants, to better understand user needs, thereby creating environments that benefit the health and well- being of all who occupy them. In 2017, Heidi created the Collective Impact speaker series to bring fellow sustainability advocates and colleagues together. After a series of speed talk presentations, the speakers engage in collaborative discussions geared to foster comradery and spark new ideas. To date, there have been 18 events, with 236 speakers representing 190 different organizations. Through widespread speaking engagements, articles and podcasts, Heidi’s passion for environmental advancement in service of our collective well-being has been transmitted across the world and she remains excited to explore new ideas, meet new people, and create a positive impact. As a longtime environmental steward and subject-matter expert, Heidi holds many prestigious credentials which include Fellow of the American Institute of Architects, LEED Fellow, WELL Faculty and Fitwel Ambassador. Previously, Heidi served on the USGBC-LA Board of Directors from 2013 to 2019. Many of her efforts focused on leveraging education and innovation to drive forward regional sustainability efforts. Heidi also served on the American Institute of Architects (AIA) California Committee on the Environment (COTE) steering committee from 2020 to 2022 which was charged with elevating AIA California’s position as a global leader addressing the challenges of advancing climate change and natural resource depletion. Heidi’s most recent accolades include recognition by the World Architecture News (WAN) for the Female Frontiers Award for Social Change in 2022, USGBC-LA’s 2021 Heart of the Chapter Award, as well as elevation to AIA’s College of Fellows in 2021.

Marika Erdely is the founder and CEO of Green Econome, a full-service Energy Consulting and Construction Company with over 12 years of experience in the energy and water efficiency industry. Green EconoME is located in Santa Monica, CA. Green Econome strives to help its clients understand their energy and water usage and implement high value solutions that reduce operating costs and increase property values. Our services also include addressing the “E” in ESG. Prior to founding Green Econome, Marika held the role of CFO/VP at New Millennium Homes, a major home builder and land developer of The Oaks of Calabasas and had previously worked as an accounting professional for nearly thirty years. Marika acquired her Contractors License B (#1001368) in 2007 and C-10 in 2018. Marika is a LEED AP BD+C (Building Design and Construction), a Certified Energy Auditor and a Fitwel Ambassador. Marika holds an MBA from Pepperdine University and a BA in Business Economics from UCSB.

Christian’s primary concentration is the conceptual design of sustainable and energy-efficient heating, ventilation, air conditioning, and building-controls systems. In 20-plus years as a mechanical engineer, he has become an expert at advanced analysis tools, including energy modeling, thermal-comfort modeling, and glazing and envelope analysis. Among other projects, Christian recently applied his conceptual-design skills to the Parkmerced Residential Development in San Francisco and the new LinkedIn campus in Mountain View, California.

Christophe Garnier is the CEO and Co-Founder of Upflex, a powerful workplace platform bringing together people, places, and data to deliver the right spaces for forward-thinking companies and today’s top-tier talent. Under Christophe’s leadership, Upflex recently raised a key $30M Series A, forged a strategic partnership with WeWork, and began the expansion into EMEA to strengthen its global network. A high-tech entrepreneur founding companies from Spark Labs, Totsy, to mSmart and workplace expert building sustainable ventures, Christophe is undoubtedly at the forefront of the future of work. Company Twitter Handle: @Upflex Personal Twitter Handle: @christophenyc