Montgomery County State of the Market

Arne M. Sorenson is President and Chief Executive Officer of Marriott International, Inc., the largest lodging company in the world. Following Marriott’s September 2016 acquisition of Starwood Hotels and Resorts, the company includes nearly 6,000 properties across 30 brands in 120 countries and territories. In fiscal year 2015, Marriott reported revenues of more than $14 billion. Mr. Sorenson joined Marriott in 1996. He became the third CEO in the company’s history in 2012 – and the first without the Marriott surname. Prior to that, he served as Marriott’s President and Chief Operating Officer. He has held a number of positions, including Executive Vice President, Chief Financial Officer and President of Continental European Lodging. He was elected to Marriott’s Board of Directors in 2011. Additionally, Mr. Sorenson serves as Vice Chair of the President’s Export Council. He is the immediate past Board Chair for Brand USA and continues as a member of the board. Other affiliations include: Chair, U.S. Travel Association CEO Roundtable; member of the Luther College Board of Regents; Stewardship Board of the World Economic Forum System Initiative on Shaping the Future of Mobility; and member of the Board of Trustees for The Brookings Institution. Mr. Sorenson’s Influencer blog, which appears on LinkedIn, has more than 400,000 followers. Marriott’s Global Sustainability Council was co-founded by Mr. Sorenson in 2007. The following year, he launched Marriott’s rainforest preservation partnership with the Amazonas Sustainable Foundation in Brazil. Mr. Sorenson chairs Marriott’s Global Diversity and Inclusion Council. The Council, along with the Marriott Board of Directors’ Committee for Excellence, monitors and evaluates Marriott’s strategy to promote a diverse workforce, as well as ownership, customer and vendor communities around the world. Before he joined Marriott, Mr. Sorenson was a partner with the law firm Latham & Watkins in Washington, D.C., where he specialized in mergers and acquisitions litigation. He is a graduate of Luther College in Decorah, Iowa and the University of Minnesota Law School. He and his wife Ruth live in the Washington, D.C. area, where they raised their four children.

Barry Glassman, CFP® is the founder and president of Glassman Wealth Services®, LLC and is a nationally recognized leader in the field of wealth management. At Glassman Wealth, Barry leads a team of financial professionals that manages over $800 million for high-net worth families. Barry has been honored with Top Advisor awards from Barron’s, Washingtonian, Washington Business Journal, Financial Times, and others. Glassman Wealth Services has been named a “best place to work” by Washingtonian and was awarded the #1 Small Company Best Place to Work by the Washington Business Journal in 2015. Barry can be heard weekly as a financial contributor on WTOP and periodically on CNBC as he sits on the CNBC Financial Advisor Council. His thought-leadership is driven by his desire to find innovative ways to educate investors through a refreshing perspective, videos, infographics, and visuals. Barry’s other passion in life is photography, despite being colorblind. Additionally, Barry is past-Chairman of the National Financial Planning Association’s Tax Sub-Committee and past-president and Chairman of the Financial Planning Association’s National Capital Area Chapter. He served on the Board of Directors of the International Association for Financial Planning for a total of six years. Each year, he hosts and underwrites Chef Night, a wine tasting and philanthropy event that has raised over $1 million for the National Brain Tumor Society and Montgomery County Pediatric Hospice..

Mr. Oliver T. Carr, III has been the President and Chief Executive Officer at Carr Properties Holdings LP since 2004. Mr. Carr co-founded Carr Capital Corporation in 1994 and served as its President and Chief Executive Officer until 2005. He was responsible for managing Carr Capital, and led managing major acquisitions and financial transactions at the firm. Mr. Carr served as a Director of WashingtonFirst Bankshares, Inc. and its subsidiary WashingtonFirst Bank from December 2012 to May 17, 2013. He served as an Independent Director of Alliance Bankshares Corporation since July 2007. Mr. Carr served as a Director of Alliance Bank Corporation since August 15, 2007 and Alliance Bankshares Corporation since July 2007. He received Master of Science in Real Estate Development from the Massachusetts Institute of Technology in 1992 and his Bachelor of Arts in Urban Studies, with a concentration in Economics, from Trinity College in 1987.

As Chief Operating Officer at The Tower Companies, Sri guides the 70-year-old DC metro area company that owns, develops, and manages over 5 million SF of office, retail, residential and eco-progressive live-work-play communities. He also serves as Vice President of Development implementing the company’s new urban vision at The Blairs District in Silver Spring, MD. Sri is a 16-year real estate industry expert with extensive residential acquisition and development experience, most notably with Archstone-Smith. Sri has published several papers including “Wall Street to Main Street; Valuation Insights & Perspectives.” He is on the Maryland / DC Leadership Committee of NAIOP, the Commercial Real Estate Development Association; serves on Bethesda Green’s Board of Directors; and is a full member of the Urban Land Institute. Sri earned his BA in Economics from the University of Pennsylvania and MS in Real Estate Development from the Massachusetts Institute of Technology. Sri and his wife Praveena live in Clarksville, MD, with their two young children. Sri enjoys cooking, travel, and golf in his spare time.

Cameron Pratt has more than 15 years of real estate investment and operating experience and has been with Foulger-Pratt since 2004. As CEO, Mr. Pratt establishes the Company’s strategy and vision and has oversight of all Foulger-Pratt operating and investing entities. Prior to joining Foulger-Pratt, Mr. Pratt worked in real estate development in California, as well as real estate investment banking and private equity in New York. Mr. Pratt holds a Bachelor of Science in Civil Engineering from Brigham Young University and a Master of Business Administration from Harvard Business School.

As a Principal with StonebridgeCarras, Kent Marquis focuses on financial strategies relative to acquisitions, asset management, and dispositions. He manages relationships with current and prospective financing partners, directs the underwriting of potential investment properties, manages the firm’s investment assets, and reports on all investments to lenders and investors. He has more than twenty years of experience in the real estate industry with complex joint venture structures spanning a diverse range of property types. Prior to joining StonebridgeCarras, Mr. Marquis worked in public accounting with Reznick Group in audit/compliance. He holds a Bachelor of Science in Finance and Accounting from Husson University and is a Certified Public Accountant. Mr. Marquis served as co-chair of the District of Columbia Building Industry Association Capital Markets Committee from 2014-2016. He is a member of the Urban Land Institute (ULI) and serves as a mentor in the ULI Mentorship Program.

Kristi Smith serves as the Executive Vice President, Development, of JBG SMITH. Ms. Smith has over 15 years of real estate development and investment experience. She oversees a development portfolio consisting of DC and MD office and residential projects and has overseen two large GSA build-to- suit projects in Rockville, MD. Prior to joining JBG SMITH in 2010, Ms. Smith was with CIM Group as an Investments Associate.  She also worked at Clark Realty Capital as a Development Executive. Ms. Smith is a NAIOP DC l MD board member and sits on its Leadership Committee. She is also a board member of DCBIA, Friends of White Flint, and the White Flint Sector Plan Implementation Advisory Committee. Ms. Smith holds a B.S. in Commerce, The McIntire School of Commerce at The University of Virginia and an M.B.A. with Distinction, Kellogg School of Management at Northwestern University.

Mike Smith is Montgomery County’s first liaison to the Real Estate Development and Investment community. Mike is responsible for assisting developers of significant real estate projects through the County review and approval process. Leveraging his experience as a real estate developer, he brings an owner/investor/developer perspective on the effects of proposed zoning changes, new master plans and other County land use initiatives on the real estate investment decision-making process. In his brief tenure, he has rolled up some pretty impressive results, most notably leading the successful effort to retain Marriott International’s 765,000 sf Headquarters in Bethesda, MD and a co-located full service 255 key hotel. Previously Mike was a Senior Vice President with LCOR Inc. where he led significant real estate development projects in Montgomery County and elsewhere in the metropolitan Washington DC region. He also serves on the Board of Directors of the MD/DC Chapter of NAIOP. Mike has a Masters Degree in Real Estate Development from MIT.

C. Robert (“Bob”) Dalrymple is a partner in the Bethesda law firm Selzer Gurvitch Rabin Wertheimer & Polott P.C, heading up the Firm’s Land Use/Zoning practice group. Mr. Dalrymple practices in the areas of land use, real estate, municipal and other areas of administrative law, primarily in Montgomery County and Frederick County and the municipalities within those counties. Mr. Dalrymple has provided extensive services to clients throughout the region who have encountered growth management and increasingly complex legislative and regulatory issues during all phases of the due diligence review, entitlement and development process, including legislative amendments and administrative appeals and litigation related to development approvals and entitlements. In this regard, Mr. Dalrymple has represented, among others, local and national retail, office, residential, industrial/warehouse and mixed-use developers and builders, golf course developers, non-profit institutions and organizations, financial institutions, hospitals and other institutional users, as well as complex development and urban redevelopment projects including public/private partnerships and governmental RFP’s. Selzer Gurvitch specializes in real estate and business transactions, tax and estate planning, commercial litigation and dispute resolution, land use, zoning and administrative law and real estate taxation. Mr. Dalrymple sits on the Selzer Gurvitch Board, and additionally commits substantial time and effort in participating in various community, civic, charitable, business and professional organizations and services.Mr. Dalrymple has served on the firm's Management Committee since 2001. Additionally, Mr. Dalrymple commits substantial time and effort in participating in various community, civic, charitable, business and professional organizations and services.

Born in Baltimore, Maryland, 1950. Attended Calvert Hall College High School, Towson, Maryland; Clemson University; Towson University, B.S. (business administration), 1974. Director of Data Systems, Ernst and Young, 1981-83. Founder and Chief Executive Officer, AMERICOM, 1981-2000. Vice-President for Business Development, Solectron, 2000-03. Chair, Blue Fire Security Technologies, 2006-08. Principal and Chair, Evergreen Advisors, LLC. (board of advisors), 2008-15. Board of Directors, Bio-Health Innovation, Inc., 2015-; Economic Alliance of Greater Baltimore, 2015-; University of Maryland St. Joseph Medical Center. Past chair, Board of Visitors, Towson University. Past member, Board of Trustees, Notre Dame Preparatory. Honorary Doctor of Humane Letters, Towson University, 1996. Distinguished Alumnus Award, Towson University, 2005. Influential Marylander, Daily Record, 2016. Married; three children.

David Kessler serves as Managing Partner of CohnReznick's Real Estate Industry practice. He has over 30 years of experience providing audit, tax, and management advisory services to the real estate and financial services industries, representing clients nationally. David represents developers, private equity funds, institutional investors such as life insurance companies and pension funds, lenders, asset management companies, property management companies, REITs, and loan funds. His clients operate and develop hotels, office, multifamily, industrial, retail, nursing and assisted living, land projects, military housing, and student housing units. David's services for commercial real estate clients involve audit and management advisory services including assisting new and existing private equity funds with structures, compliance, and asset or portfolio due diligence. He works with RIA’s, fund managers, and is proficient with real estate accounting and reporting as well as real estate operations. David frequently works with the Firm’s Advisory Practice. David designed and has taught a real estate accounting graduate-level course at Georgetown University’s School of Continuing Studies and the University of Maryland’s School of Architecture, Planning, and Preservation as part of each university’s graduate degree program in real estate development. He speaks frequently at real estate industry conferences throughout the country. David serves on the Board and is Treasurer of Junior Achievement of Greater Washington and is a Board Member of Barker Adoption Foundation.

Jordan Goldstein, Gensler’s Global Director of Design and a member of the firm’s Board of Director, is an award-winning architect who uses design to help clients unravel complex problems and craft relevant solutions that evolve their businesses and brands. Gensler is widely recognized as the world’s leading collaborative design firm, with 50 locations and more than 5,000 professionals networked across the United States, Latin America, Asia, Europe, Australia, and the Middle East. Throughout his 25-plus-year career, Jordan has been involved in further defining the skyline of global cities with projects like Beijing’s twin 725-foot CP Towers and Bangkok’s 60-story Magnolias Ratchadamri Tower. Jordan has also provided design vision and leadership on projects that range in scale from China’s Duke Kunshan University campus to Marriott’s new global headquarters outside of Washington, DC. Jordan’s projects have won numerous national and local awards from the American Institute of Architects (AIA), International Interior Design Association (IIDA), and NAIOP, among others. His work has also appeared in various periodicals, including Architect, Interior Design, Contract, Fortune, US News & World Report, Washington Business Journal, and The Washington Post. In addition to being recognized for his design skills, Jordan has also been honored for his leadership. In 2017, 2015 and 2013, he was included on the Washington Business Journal’s “Power 100” list of the most influential area business leaders and was recognized as one of the top 25 innovators in the Washington, DC area. Jordan is a Fellow of the American Institute of Architects and the International Interior Design Association. An advocate of helping the next generation of architects prepare for tomorrow, Jordan has taught at the University of Pennsylvania, where he earned his Master in Architecture, and has been the Kea Professor at the University of Maryland, where he earned his Bachelor of Science in Architecture.

As a market president for United Bank, Steve is responsible for the management and operation of all bank offices in the Suburban Maryland area, including client relationships and new business development. Prior to this role, Steve was a commercial lender with United for 13 years, working with international, national and local real estate developers who focus on multifamily development, retail, office, residential homebuilding and industrial properties. He also serves on the board for the Catholic Charities Golf Classic and is involved in the corporate work study program with Don Bosco Cristo Rey high school, which allows students to apply classroom learning to the workplace.