The 7th Annual Philadelphia State of the Market

Bill Glazer founded Keystone Property Group in 1991. Initially a real estate brokerage firm, Keystone grew into an investment firm in 1993, to a development company in 1997, to a real estate private equity firm in 2003, and to a full-service real estate investment and development operating enterprise in 2014. He has invested and developed over 12 million square feet of properties in billions of dollars of transactions using multiple investment structures, such as Joint Ventures, Individual Syndications, Direct Investments, Real Estate Private Equity Funds and Strategic Partnerships. In addition to his real estate equity investments, Bill served as Chairman of the Board of Hyperion Bank, a Pennsylvania state-chartered commercial bank. Further, he serves as Director on non-profit boards, including the Jewish Federation of Philadelphia. Bill’s professional affiliations include the Young President’s Organization, National Association of Industrial and Office Properties, Urban Land Institute and Wharton School’s Zell/Lurie Real Estate Center. A graduate of the University of Pennsylvania, Bill is the recipient of many awards and honors, including the Pennsylvania Award for Community Excellence, the Chamber of Commerce Award for Excellence, the Philadelphia Business Journal’s 40 Under 40 Award and the Ernst and Young Entrepreneur of the Year Award. An avid endurance athlete who has completed numerous marathons and triathlons, Bill’s long-term training philosophy mirrors his patient investment philosophy.

Mr. Robert E. Buccini is a Co-founder and Principal of The Buccini/Pollin Group, Inc. and serves as its Co-President. He serves as Executive Director of Mid Atlantic Hotel Portfolio Investors LLC. Mr. Buccini leads The Buccini/Pollin Group general non-hotel real estate development activity. Prior to co-founding BPG, Mr. Buccini was an Assistant Vice President for real estate development at the New York City Economic Development Corporation (EDC). While at the EDC, his projects included the Times Square-Disney redevelopment project, Brooklyn’s Metro Tech, the city’s first information technology building, and the New York City Discovery Fund (a $50 million venture fund investing in New York City based technology companies). Prior to that engagement, Mr. Buccini was a Broker and Senior Analyst for Kenneth D. Laub & Company, a commercial real estate brokerage firm based in New York City. Mr. Buccini is Chairman of the Wilmington Housing Partnership, Director of The Rodel Foundation of Delaware, Treasurer of Opera Delaware and Chairman of Delaware State University’s Annual Campaign. Mr. Buccini received his Bachelor of Arts degree from Cornell University.

Dawn Summerville is the Deputy Commerce Director for Business Development for the City of Philadelphia where she is charged with attracting new business to the city while also monitoring retention efforts. With over 17 years of economic development experience, Ms. Summerville understands first -hand the importance of the business community and its impact on the city. Her portfolio of work is expansive as she leads a domestic and international team that focuses its efforts within Life Science, Logistics, Tech, Innovation and the Creative Economy. Prior to joining government Dawn worked in private sector in entertainment/broadcasting and for a national retailer providing guidance on strategic partnerships, brand positioning and development. Ms. Summerville attended West Chester University where she received an MA in Communication Studies in 2005. Ms. Summerville serves on the board of the Reading Terminal Market on the behalf of the city and is a proud member of Alpha Kappa Alpha Sorority, Inc. She lives in the Northwest section of the city and enjoys any opportunity to explore communities and talk to its residents.

As Pennsylvania Market Leader for the Commercial Real Estate Division of Citizens Bank, Ed Terry oversees the project finance and term loan production in Pennsylvania, Delaware, Southern New Jersey, Upstate New York and Ohio. Mr. Terry has over 30 years of commercial real estate finance experience overseeing over $7 billion of loan production during this career. Ed has a diverse career background with experience in Commercial Banking (Shawmut Bank, Fleet Bank), Permanent Lending (American United Life Insurance), Private Equity (Crystal Capital) and Debt Restructuring Advisory (Hilco Real Estate).

With more than 25 years in public accounting, George devotes most of his time serving clients in the Real Estate Industry. These include developers, commercial and residential operators, hotels, property and asset managers, home builders, private equity funds, and individual investors. In 2009, he took on the lead role of the legacy LarsonAllen firm’s Real Estate practice and has brought that experience forward focusing on further developing the firm’s capabilities in advisory, assurance, and tax services available to clients in the real estate and hospitality space. He also is a lead resource in the firm helping clients in real estate workout transactions. Technical experience: • Assists clients in selecting entity status, advises on partnership and LLC formations, helps with modeling IRR calculations and waterfall provisions, and forecasting distributions and allocations under IRC Subchapter K • Provides consulting and expert services related to performance, cash flow, and operations of commercial real estate and hotel operations, including litigation support • Helps clients assess the benefits of cost segregation studies, repair studies, change in accounting methods, as well as help facilitate closely-held business strategic planning initiatives, and design and implementation of succession plans Education/professional involvement: • Bachelor of business in accounting from Temple University, Philadelphia, Pennsylvania • American Institute of Certified Public Accountants • Certified Public Accountant in the state of Pennsylvania Speaking engagements: • Pennsylvania Bar Institute panelist on Distressed Real Estate transactions • Testified in Federal Bankruptcy Court (Trenton, NJ) on feasibility of petitioner’s plan.

Born and raised in Cleveland, Ohio, Dean S. Adler is CEO and Co-Founder of Lubert-Adler Partners, L.P., a real estate equity firm with over $7 billion in equity and $17 billion of assets under management. Dean is Head of the Investment Committee, and is responsible for leading the strategic direction of the team. Lubert-Adler invests on behalf of, among others, 30 major university endowments, state pension funds, and major foundations. Prior to Lubert-Adler, Dean graduated magna cum laude from the Wharton School of the University of Pennsylvania. He also holds a J.D. degree with honors from the University of Pennsylvania Law School and was an instructor at the Wharton School between 1981 and 1983. Subsequently, he worked at Ernst & Young, Baker and Hostetler and CMS. Currently, he is an Executive Committee Member and Research Sponsor for the Zell/Lurie Real Estate Center of The Wharton School and currently serves on the board of directors of Bed Bath & Beyond (NASDAQ: BBBY). He has been a keynote speaker for national real estate organizations such as the Urban Land Institute and the International Council of Shopping Centers. Dean has served on numerous community boards and has served on the City of Philadelphia's Economic Development Summit.

Tom Weitzel is a Managing Director with Jones Lang LaSalle (JLL) in Philadelphia. Tom serves as the Office Brokerage Lead across five branch offices throughout the region. Tom delivers strategy and solutions to tenants, owners, and investors, Tom focuses on helping tenants minimize costs and optimize efficiency in an ever changing workplace and economic environment. He also works with owners, on select assets, with market expertise to maximize their return on investment. Tom served as a Captain in the US Army. His military career progression took him from an enlisted Private to a Commissioned Officer. Tom deployed with the 3rd Armored Calvary Regiment in support of Operation Iraqi Freedom in 2005. During his tour of duty in Southern Baghdad, he led a Tank Platoon and a Scout Platoon before taking over as Troop Executive Officer; second in command of 136 Soldiers. Tom was awarded the Bronze Star Medal for his service in Iraq. Tom and his wife have volunteered their time supporting Susan G. Komen for the Cure and Habitat for Humanity. He participated in the 2016 LEADERSHIP Philadelphia Core Class. Tom graduated summa cum laude from the W.P. Carey School of Arizona State University emphasis in Finance.

Naveen Kakarla is the President and Chief Executive Officer and also on the Board of Directors of HHM, which manages over 120 hotels in the Northeast, Florida, and California. These hotels range from three to five star properties in urban and leisure resort destinations. Naveen is responsible for HHM’s investment and fund management, acquisitions and development, finance and accounting, human resources, and capital projects. He prior led HHM’s New York City region and also oversaw its construction and technical services division. Prior to joining Hersha in 2005, Naveen worked with a private equity firm and its portfolio companies on early stage investments and "roll ups" in various industries. Naveen had been an active real estate investor in the multifamily space prior to joining Hersha. Outside the real estate sector, Naveen was previously a partner specializing in corporate and securities law at the national law firm of Jenkens & Gilchrist, P.C., and was previously associated with Akin, Gump, Strauss, Hauer Feld, LLP in Washington D.C. Naveen earned a Bachelor of Arts from Austin College and a law degree from Cornell Law School.

Mark Morris is the Firmwide Managing Partner of Fox Rothschild, a national law firm with 800+ attorneys and 22 offices coast to coast. Mark has more than 30 years of experience as a real estate practitioner with a practice that centers on significant transactional work, including office buildings, residential developments, industrial parks and shopping malls and centers. His practice has a particular focus on representing clients in the hospitality industry. He takes a lead role in the sale, acquisition, development and management of full-service and limited-service hotels throughout the United States. He is skilled in the negotiation of franchise and management agreements on behalf of his franchisee clients and has worked closely on their behalf in negotiating with major franchisors such as Marriott, Choice and Hilton on transitioning franchisees and resolving disputes. Ranked as a leading Real Estate lawyer in Pennsylvania by Chambers USA, Mark served an extensive term as chair of Fox’s Real Estate Department and as co-chair of the firm’s Hotel Law and Hospitality Practice.

John J. Connors has been Brickstone’s managing partner in Philadelphia since 1985, and brings extensive experience in the fields of commercial and investment banking and finance, and real estate acquisition, development and leasing. He is Brickstone Senior Living’s Vice Chairman. Mr. Connors joined Brickstone to oversee the acquisition and development of Mellon Independence Center in Philadelphia, and since then has guided the expansion of Brickstone’s Philadelphia portfolio to include The Wanamaker Building and 101 Penn Square East. Mr. Connors is responsible for both the direction of these development efforts and the ongoing operations of all Philadelphia projects. Mr. Connors was employed first as a commercial banker with Provident National Bank in Philadelphia, and then as a merchant banker with Merrill Lynch Private Capital, Inc., specializing in the structuring and oversight of real estate investments with many of the country’s largest private developers. Mr. Connors holds a Bachelor of Science degree in Economics from the Wharton School of the University of Pennsylvania. Mr. Connors sits on a number of municipal boards including the Philadelphia Convention and Visitors Bureau and the Market East Improvement Association. Mr. Connors resides in St. Davids, a suburb of Philadelphia.

Mark H. Dambly began his career at Pennrose Properties in 1992 as a Vice President and partner. He became President of the firm in 2004. His vast experience in a variety of real-estate development arenas includes complex multi-funded transactions in both the affordable and market-rate housing markets. He is fully invested in leading the firm’s development teams through every phase of the development process, from initial financing applications and approvals through closings and construction completion. Mr. Dambly directs the firm’s business development efforts, seeking opportunities for future business and establishing and maintaining relationships with municipalities, agencies, and lenders. Under his leadership, Pennrose’s portfolio of real-estate developments has grown to more than 16,000 units. With his many years of experience working in the complex context of today’s real-estate development environment, Mr. Dambly understands the intricacies of residential development and takes a balanced perspective of social necessity and market opportunity. He applies his experience to form sophisticated solutions to the inherent difficulties of creating quality affordable housing in today’s market. He coordinates creative developmental financing across a broad range of sources including: low-income housing tax credits, historic tax credits, tax-exempt bonds, general obligation bonds, and HUD Section 8 Project Based Assistance and HOPE VI grants. He brings a proven financial capability, a record of accomplishment of successful properties planned and built on schedule, and a strong commitment to providing families and seniors with affordable, multifamily and market-rate housing. Among his civic activities, Mr. Dambly serves on the Pennsylvania State University Board of Trustees and on the Board of Directors of Penn State Health. In addition, he is on the Board of Directors for the Riverfront Alliance of Delaware County, Regional Housing Legal Services, Housing Alliance of Pennsylvania, and Pennsylvania Apartment Association – East. Mr. Dambly is a graduate of Pennsylvania State University, where he earned a Bachelor of Science degree in Real Estate and Insurance.

Jonathan Morgan is a Managing Director and President of Morgan Properties JV Management LLC (http://www.morgan-properties.com/), one of the nation’s largest and fastest growing apartment owners. Headquartered in King of Prussia, PA, Morgan Properties owns and operates an existing multifamily portfolio of over 30,000 apartment units located across country in 10 states throughout the Northeast and Mid-Atlantic Region. Morgan Properties primarily targets its Core Markets consisting of Suburban New York, New Jersey, Philadelphia and the Baltimore-DC Corridor. Over the last two years, Mr. Morgan has spearheaded Morgan Properties’ recent acquisitions of over $850 Million and 7,500 units. Mr. Morgan is seasoned real estate investor and entrepreneur with a proven track record in value-enhancement investment opportunities. He is responsible for sourcing, underwriting, negotiating and closing acquisitions, recapitalizations and refinancing all transactions consummated by Morgan Properties. He also sources and establishes all of Morgan Properties’ Joint Venture partnership relationships with institutional investors. Mr. Morgan is an alum from the University of Pennsylvania and Columbia Business School. Mr. Morgan has previously worked at Bear Stearns and Apollo Real Estate Advisors (AREA), where he focused on distressed debt and real estate private equity.

Matthew N. McClure is Team Leader of the firm's Zoning and Land Use Team. He counsels developers, nonprofits, and universities on a full range of real estate matters. His practice heavily emphasizes development, land use, zoning, and historic preservation matters. Mr. McClure has represented developer and institutional clients in significant urban redevelopment efforts, with high profile historic preservation issues, and in successful land use appellate matters. Before joining the firm, Mr. McClure handled media relations for the U.S. Conference of Mayors and worked in the Office of then-Mayor Edward G. Rendell.