Palm Beach County State of the Market

Bruce Toll, who is a resident of Florida, earned a Bachelor of Arts degree from the University of Miami in 1965 and attended graduate school of business at the University of Miami in 1966. In 1967 Bruce Toll co-founded Toll Brothers, Inc. (NYSE: TOL), which went public on the New York Stock Exchange on July 7, 1986 and is today the nation's premier builder of luxury homes. Mr. Toll served as President of the Company from 1967 until 1998, at which time he became Vice Chairman. He resigned as Vice Chairman in March of 2016. Toll Brothers has been honored with numerous awards, including Builder of the Year from Professional Builder Magazine, America's Best Builder from the National Association of Homebuilders and Builder Magazine, and the National Housing Quality Award from the National Association of Homebuilders. In 2017 Mr. Toll was inducted into the Builder Hall of Fame. The Company’s master-planned communities, golf courses, active living communities, and city living properties are located in 51 markets and 20 states across the U.S. and Toll Brothers has sold over 100,000 homes since its beginning in 1967. Mr. Toll co-founded, served on the Board of Directors, and was the largest shareholder of UbiquiTel, Inc., a publicly traded company which provided Sprint PCS digital communication services to mid-size markets in the western and mid-western United States, until it was acquired by Sprint in 2006. He was also the largest investor and served on the Board of Directors of Fifth Street Capital, a business development corporation founded in 2000. In 2006 Philadelphia Media Holdings LLC, of which he was Chairman, acquired the Philadelphia Inquirer. He resigned this position in August of 2009. Mr. Toll was the former Chairman and majority owner of Aquilent, a leading provider of web development and IT services to the federal government. Mr. Toll is the owner of BET Investments, Inc. BET and its affiliates own, develop, and manage over 7 million square feet of shopping centers, 2 million square feet of office properties and over 4,000 apartment units in 12 states. He is also the owner and operator of five automobile agencies, Reedman-Toll Auto World in Langhorne, Pennsylvania, the largest automobile dealer in the country which sells Chrysler/Dodge/Jeep/Ram, Chevrolet, Fiat, and Subaru products; Reedman Toll of Downingtown, Pennsylvania which sells Honda and Subaru products; Reedman Toll of Exton, Pennsylvania which sells Chevrolet products; Reedman Toll of Jenkintown, Pennsylvania, which sells Dodge/Jeep/Ram products; and Reedman Toll of Springfield, Pennsylvania which sells Dodge/Jeep/Ram, and Chevrolet products. He is also the Owner and Chairman of Puresyn Corp., a biotech company located in Malvern, Pennsylvania. In addition, Mr. Toll is the owner of BET Associates which is a mezzanine lender for various types of businesses. Mr. Toll is also the lead investor in many private companies. As a board member of these companies he helps guide strategic development to insure continued growth of shareholder value. Some of Mr. Toll’s current private equity investments include: Premier Kids Care, a provider of specialized pharmacy services pursuant to agreements with biotechnology drug manufacturers relating to the treatment of pediatric growth hormone deficiency; and Colonial Management Group, the second largest chain of outpatient substance abuse treatment centers in the U.S. Colonial uses methadone to help drug-dependent individuals overcome their addiction to heroin, opium and opiate-based prescription medications. Mr. Toll is also the Chairman of Lehigh Natural Resources, the largest anthracite coal mine in Pennsylvania. In addition, Mr. Toll is a partner in Sidney Kimmel Entertainment which produces movies. Mr. Toll served on the Chairman’s Advisory Board of the Ben Franklin Technology Center of Southeastern Pennsylvania; he is a Member and the Treasurer of the Board of Trustees of Abington Memorial Hospital; he is a Member of the Executive Board of the Philadelphia Museum of Art; he is an Honorary Trustee of the Barnes Foundation; and he also served on the Boards of Beth Sholom Synagogue, the University of Miami, and the Jewish Federation of Palm Beach County. Mr. Toll is also the Founder and President of the Abington Township Industrial and Commercial Development Authority. He is a former member of the Young Presidents' Organization and a current member of the World Presidents' Organization and Chief Executives Organization. He is also a former member of the Board of the Pennsylvania Nursing Home Loan Agency, the Board of Directors of Philmont Country Club, the Board of Directors of the Foundation of the Philadelphia Heart Institute, the Fannie Mae Housing Impact Advisory Council, and the Board of the Homebuilders Association of Bucks/Montgomery Counties.

Jeff Greene was born in 1954 in Worcester, Massachusetts. His father ran a business selling used textile machinery and his mother was a religious school teacher.  His parents taught and instilled in him a strong set of moral and economic values that would become the basis of a long and fortuitous career in real estate investment and development. Greene worked his way through The Johns Hopkins University teaching religious school three days per week, checking ID’s outside the Hopkins gym and working winter vacations as a busboy and waiter at the Breakers Hotel in Palm Beach, Florida.   He received a Bachelor of Arts degree in economics and sociology from Johns Hopkins in just two and a half years.  After Johns Hopkins, Greene worked on- the- road as a circus promoter for almost 3 years, accumulating the seed capital for what would become a billion dollar real estate portfolio.  After 3 years of hard work, Greene went back to Harvard Business School where he received his Masters of Business Administration in 1979. While at Harvard, Greene began investing in residential real estate by purchasing a 3-family home not far from the business school, where he would reside while getting his MBA.  He gained a quick understanding of the real estate business and by the time he completed his second year at Harvard Business School, he had accumulated 18 properties and a net worth of over a million dollars.  After business school, Greene moved to Los Angeles where he successfully navigated a roller coaster real estate market through the 80s and 90s.  By 2006, he had accumulated a $1 billion real estate portfolio.  Worried about the possible collapse of the real estate market, he devised a hedge for that portfolio in which he shorted what he determined were enormously overvalued subprime mortgage backed securities.  This investment has been described as the most successful trade in history by an individual on Wall Street. In 2010, Greene felt that the country was heading in the wrong direction and ran for the Democrat nomination for United States Senate in Florida. Greene manages a vast portfolio of financial investments in real estate, hospitality and energy.  He is an active philanthropist supporting a variety of charities and is a signatory to the Buffet-Gates Giving Pledge. The Greene Institute’s Managing the Disruption Conference is an annual event bringing together many of the world’s most respected academics, business leaders and political leaders to discuss the importance of maintaining a skilled middle class. He and his wife, Mei Sze, are the founders of The Greene School, dedicated to empowering high-performing students to be adaptive, confident and productive stewards of an evolving world. Mr. Greene and wife Mei Sze reside in Palm Beach, Florida with their three children.

Since 2013, Jay Parker has been the Chief Executive Officer of Douglas Elliman Florida Brokerage where he has capitalized on his extensive brokerage relationships and realtor contacts to grow Douglas Elliman’s presence in Miami, Miami Beach, Ft. Lauderdale, Aventura, Delray Beach, Boca Raton, Palm Beach and Jupiter. Jay has shown a propensity for leadership throughout his career. His fundamental role in handling over $300 million in mergers and acquisitions at the Law Firm of Gunster Yoakley Valdez Fauli & Stewart in the Miami and Palm Beach Real Estate Departments ultimately led his client to an IPO. Then, as General Counsel for LandTel Communications in New York, he oversaw the implementation of a Pan-European fixed wireless market. In this role, he raised over $375 million from numerous private equity firms and restructured the company’s assets after recognizing a funding gap at a time when the industry was in distress, thereby avoiding bankruptcy. In late 2001, Jay returned to Miami Beach to form Clear Title Group, LLC a boutique real estate title insurance company focused on offering closing services to luxury condominium and home buyers. After strengthening his brokerage roots in South Florida while also representing Titan Capital as the company’s local counsel, Jay sought a joint venture, founding Titan Capital Florida, LLC in 2006. Jay continues to serve as Managing Partner of Titan Capital Florida, a Direct Lender with offices in New York, Connecticut and Miami. In its first year of operations, Titan Capital Florida closed on over $100 million in transactions. In 2010, Jay formed Beloff Parker which grew to Beloff Parker Jacobs, a real estate and transactional law firm based in Miami Beach. Building off Parker and Beloff’s long- standing relationships in the Miami market, Clear Title Group quickly distinguished itself as one of the largest and most successful real estate law firms in the area, representing many of Miami Beach’s most respected developers, landlords and tenants, as well as handling some of their most significant real estate transactions. Jay received a Bachleor of Arts degree from the University of Western Ontario located in London Ontario Canada. During this time, he spent a year studying abroad in Tel Aviv. Jay completed his studies at the University of Miami, School of Law, where he earned his Juris Doctorate in 1998. Today, Jay lives with his twin boys in Miami where he is a member of the Florida Bar Association and serves on the Board of Governors for the Miami Beach Chamber of Commerce. Jay is also President of the Executive Board of Mt. Sinai Medical Center Foundation and sits on the Miami Association of Realtors Leadership Board.

Since 2015, Lisa Neumayer has emerged as a risk management consultant leader within the Gallagher Real Estate and Construction practice. Working closely with specialty team members throughout Gallagher’s global network, she delivers niche expertise, products and services to real estate developers, contractors and property owners/managers. Her specialty provides experience for large Owner and Contractor Controlled Insurance Programs (OCIP/CCIP) Wrap Ups and Builder’s Risk for construction projects and permanent placement risk management programs involving multiple asset classes ranging in values from $50 million to upwards of $500 million+. In less than 4 years, she has provided the risk financing and security for major real estate developments totaling over $1 billion in values, placing nearly $5 million of premium into the global insurance marketplace. Quickly building a reputation in the market as a creative thinker and problem solver, she has worked with a number of clients to tackle their supply chain trade credit risk domestically and abroad and provided alternative risk solutions for unique exposures worldwide.

Pete serves as Vice President of Acquisitions and Dispositions and is responsible for sourcing, underwriting, negotiating, and closing new properties while assisting in the disposition strategy of existing assets. He brings his 12+ years of local and national deal making along with his extensive database of contacts as he is tasked with maintaining a robust transactions pipeline and an overall healthy portfolio. Prior to joining PEBB, he worked as the Vice President and Director of Acquisitions & Dispositions at Noble Properties overseeing their portfolio consisting of thirteen shopping centers in Florida and an excess of eighty single tenant net lease assets throughout twenty-two states. Pete successfully quarterbacked the acquisition and disposition of over $250 million in just over two years - all private equity. Before Noble, he specialized in selling multi-tenant shopping centers in Southeast Florida at Franklin Street in Ft. Lauderdale. Pete graduated with a B.S. in Management from Florida State University College of Business as a four-year Letterman winning the Golden Nole Award during his time there. He is licensed through the state of Florida in both Real Estate & Insurance (2-20 General Lines). Additionally, he is a long-standing member of the International Council of Shopping Centers (ICSC), serves on the ICSC Palm Beach Planning Committee and is a member of the Urban Land Institute (ULI). Pete is currently pursuing his Florida broker's license and is a CCIM candidate.

Mark is a Principal of Avison Young and member of the Florida Capital Markets team primarily focused on the sale of office and industrial properties in South Florida. For over 25 years, Mark has successfully worked with clients to meet their real estate needs. Whether buying, selling, leasing or financing real estate assets, Mark is consultative and client-centric, creatively structuring transactions and strategies to meet his client’s investment objectives. With involvement in over $2.5 billion of transactions across all asset classes, Mark works with investors of all types including institutional investors, high net worth private clients, developers and financial institutions in South Florida. Mark has been quoted in numerous articles and has been recognized by the South Florida Business Journal as a Heavy Hitter in Commercial Real Estate and by CoStar as a Power Broker.

Michele Pellico, RPA, FMA has been in the commercial real estate industry for twenty years. Michele currently is the Regional Manager of Florida for Property Group Partners, overseeing the management and supervision of all management operations, tenant services, contract services, engineering/maintenance and administrative activities for Property Group Partners. Property Group Partners is an established, full service real estate company that specializes in the development, acquisition and management of Class A Assets in major markets, including New York City, Washington DC, London and South Florida. Working for multiple companies through the years, Michele has led her teams to win TOBY Awards through BOMA: (4) Office Building of the Year and (1) Renovated of the Year through BOMA Ft. Lauderdale/Palm Beaches and (1) Southern Region of US, TOBY for the renovated category. Her past clients included: Cornerstone Real Estate Advisors, CBRE Global Investors, JP Morgan, ING Clarion, Berwind Property Group, Gaedeke Landers, Trizec. Michele currently serves on the Board of Directors for BOMA Fort Lauderdale/Palm Beaches, where she will be appointed as Vice President for the 2019 term. She has served as President of CREW Palm Beach/Treasure Coast in 2016 as well as Secretary /Treasurer from 2013-2015.

Anthony Librizzi joined Cushman and Wakefield’s South Florida team as Managing Director of Commercial Brokerage in our West Palm Beach office in May 2017 and leads the office leasing group of Mark Pateman and Tara England. Before joining Cushman & Wakefield, Mr. Librizzi spent ten years at CBRE where he served as Senior Vice President, assisting both office tenants and landlords in West Palm Beach, North Palm Beach and along the Treasure Coast. His prior brokerage experience includes two years at Applefield Waxman Commercial Real Estate. Mr. Librizzi has built strong relationships with some of South Florida’s largest investors and landlords, such as New York Life, Alchemy-ABR Partners, CBRE Global Investors, AEW Capital, Lexington Realty Trust, Breakers Capital, Tower Realty Partners, and Praedium Group. He has also represented some of the most prominent tenants in the region, including American Express, AT&T, FPL, Merrill Lynch, Lighthouse Partners and TD Bank. Mr. Librizzi has led leasing efforts for a portfolio of more than 1.75 million square feet of office space throughout Palm Beach County. This portfolio includes some of Palm Beach County’s most recognizable office assets, such as Congress Corporate Park, Esperanté Corporate Center, Tower 1555, Corporate Center at the Gardens, 1700 Palm Beach Lakes Boulevard, Gardens Medical Pavilion, Centrepark and Financial Center at the Gardens.

Jessica is an experienced design and construction Executive with a demonstrated history of working in the design and construction industry. Skilled in project planning, budgeting & value engineering, design management, construction management, and project completion. Strong project Executive Management professional with 2 years of architecture experience, 9 years of commercial construction experience at one of the country's largest construction firms, and 3 years of project management experience. She holds a degree in Architecture (B.Arch.) graduating magna cum laude.

Michael Ferry is Chief Operating Officer of DDG. In his role, Mr. Ferry is responsible for overseeing day-to-day operations of the company. Mr. Ferry joined DDG in 2011 as Vice President. Since then, Mr. Ferry has led or assisted the firm’s residential developments in New York, which include the award- winning 41 Bond in NoHo and the celebrated 345meatpacking in the Meatpacking District; Brooklyn; and Florida. Prior to joining DDG, Mr. Ferry worked at global real estate investment firm Hines. Mr. Ferry graduated from Bates College with a BA in Art History and received is MBA from Columbia Business School.

Mr. David Warne oversees Penn-Florida’s project debt and equity requirements, as well as institutional investor communications. Mr. Warne has over 30 years of experience in real estate finance, and has directed project funding for over $20 billion in real estate value across all property classes on behalf of such notable companies as Wachovia Bank, Ocwen Asset Corporation and SunTrust Banks. Most recently, Mr. Warne was the Senior Real Estate Banking Executive for Wachovia in the South Florida market – managing a 12 person lending team and a $2.75 billion property portfolio. Mr. Warne graduated from the University of Pittsburgh with a degree in Economics and received his Master of Business Administration degree in Finance from the University of Miami

As a highly accomplished top producing broker at Douglas Elliman, Chris is known by clients and colleagues alike for his grasp of national, international and regional markets. Maintaining a hyper-local focus in Palm Beach County, Chris has been featured on multiple news platforms including Fox Business News, CNBC, Bloomberg TV & Radio, The Wall Street Journal, Mansion Global, Business Insider, Robb Report and Modern Luxury Palm Beach as an expert source providing knowledgeable insight on the South Florida real estate market.

Judith Schumacher, Owner/Partner of Schumacher Companies, a South Florida construc;on firm, manages client development and pre-construc;on services. Schumacher Companies delivers commercial general construc;on services. Ground-up projects as well as interior build-outs and renova;ons, are within the scope of services they provide. With over 25-years of experience in the construc;on industry, Judi understands the importance of building trusted client and consultant rela;onships. She focuses on project requirements before the actual construc;on begins. Communica;on and coordina;on with the client, other consultants, and subcontractors ensures that the project results will truly be the client’s vision. Her personal involvement during pre-construc;on is what sets Schumacher Companies apart from other general contractors. Judi ac;vely par;cipates in numerous business-related and philanthropic organiza;ons, including Families First of Palm Beach County, where she sits on the Board, Economic Forum of Palm Beach County, and Business to Business for Women, to name a few. She is a graduate of Leadership Central Palm Beach, Leadership Collier, and Leadership South Florida. Judith is a Founding Member of CREW Palm Beach/Treasure Coast and a Past- President of the Chapter. She is also a Founding Board Member of AEC TrendseTers, an organiza;on specific to the architectural, engineering and construc;on professions.

Mr. Booher works with Fidelity National Title Group in their National Commercial Services operations. He is responsible for overseeing the delivery of title, escrow, underwriting and closing services for national customers in Florida and throughout the Southeast. Prior to this position, he served as National Underwriting Development Counsel, recruiting, hiring and assisting with the development of underwriting counsel in all U.S. markets in which Fidelity is operating. As the Chief Claims Counsel and Claims Center Manager for Fidelity’s Jacksonville Claims Center, Mr. Booher managed approximately 95 attorneys and 70 administrative and support personnel, who were responsible for administering the majority of lenders and owners claims on title policies issued by the Fidelity family of companies for the Eastern half of the United States and Latin America. After graduating from the University of Florida, Mr. Booher practiced commercial litigation and real estate law for 11 years, handling numerous legal issues including commercial and real estate transactions and litigation, construction litigation, and business negotiations and disputes. He spent 7 years with The St. Joe Company, a Florida real estate operating company, becoming experienced in nearly all aspects of real estate development and operations, including land and building acquisitions, title, construction, financing, leasing, management, marketing and disposition of commercial, retail and residential properties, and serving as Assistant General Counsel, responsible for managing the company’s litigation. Prior to joining Fidelity, Mr. Booher served as the U.S. Counsel for a Brazilian conglomerate, focusing on the North American expansion and legal management of the company’s cement, concrete, and construction related operations.