Washington D.C. State of the Market

Douglas Jemal was born in Brooklyn, New York and came to Washington, DC in 1966. Douglas began his career in the retail trade with a small store on 7th Street NW. He soon expanded into the electronics and music business, and by the mid-1980’s had created one of the most successful retail electronics chains in the nation. Douglas branched into real estate in the early 1980’s, purchasing his first parcel at 425 7th Street NW in 1981. Since then he has focused on purchasing and developing distinctive commercial properties in urban areas, such as Wonder Plaza (the former Wonder Bread bakery) near Howard University, Jemal’s Park & Shop (on Connecticut Avenue, the oldest strip shopping center on the east coast), the historic block of 7th Street between G and H in Chinatown and the Historic Woodies Building at Metro Center. He believes in the hands-on approach to development and is actively involved at the design, construction and leasing of all his properties. Douglas is particularly noted for his unprecedented success in preserving historic architecture while transforming properties into viable and successful retail, office or residential sites. His retail background provides him with valuable insight into the needs of the eventual tenant while construction is underway, as well as the proper mix and placement of tenants once leasing commences. In addition to restoring notable buildings and revitalizing historic neighborhoods, Douglas Jemal is an active philanthropist proud to give back to the Washington, DC community. Noteworthy charitable contributions in recent years include donations to the Children’s Hospital, Columbia Lighthouse for the Blind, Cystic Fibrosis Foundation, Shaw Main Street, Animal Rescue Foundation, Manna Inc., and The Studio Theatre Inc., among several others. In recognition of his philanthropic work and historic preservation efforts, Douglas has received various honors and awards, including the 2014 District of Columbia Awards for Excellence in Historic Preservation Lifetime Achievement Award, Washingtonian’s “45 People who Shaped Washington” in 2010; the Mayor’s Award for “Excellence in Rehabilitation and New Construction” in 2009; the Cystic Fibrosis Foundation’s “Hitchcock Humanitarian Award” in 2007; and the Washington Chapter of the American Institute of Architects’ “Merit Award, Historic Resources Category” in 2004 for Historic 7th Street. Additionally, the Downtown BID recognized Douglas as its “Citizen of the Year” in 2010 for his many contributions to the city over the course of his career. He currently serves on the Downtown Developers’ Roundtable, providing expertise and counsel on important economic and development issues within Washington, DC.

Gary is the Chief Investment Officer and a Partner of Meridian. Gary is responsible for acquisitions, capital activities and investor relations.  He also serves as Chair of the Investment Committee. Gary led the fundraising and investing efforts of Meridian Realty Partners I and II, Meridian’s discretionary private equity funds raised in 2012 and 2016. Between these two funds, Gary has completed in excess of $2.5 billion in investments with over $1 billion of equity in 15 transactions. With over 30 years of industry experience, Gary represented Meridian in its first 3 years of investments as a partner at Vinson & Elkins LLP in Washington, DC. He then headed up the Real Estate Fund’s Acquisitions Group as a partner at The Carlyle Group, where he led and completed over $12 billion of investments with $3.4 billion of equity in nearly 200 transactions. These included the acquisition, development, structured financing, and recapitalization of office, hotel, retail, residential, industrial, land, senior living, and mixed-use properties. He also led the firm’s efforts in the formation of Carlyle Realty Partners I, II, III, IV and V – an aggregate of over $5 billion in investor commitments – before joining The Meridian Group in November 2007. Gary received his B.A. from Vanderbilt University and his J.D. from The University of Texas School of Law. Gary is on the Advisory Board for George Washington University Business School's Center for Real Estate and Urban Analysis.

Richard Lake is a founding Principal of Roadside Development. Roadside was formed 20 years ago as a Washington, DC-based development company, focused on the creation of retail and mixeduse environments. Roadside has become one of the leading experts in urban and town center development throughout the metropolitan Washington, DC region. Mr. Lake has been responsible for overall acquisition, entitlement, development, leasing, and property management of more than 25 million SF over the past three decades. Notable recent projects include City Ridge located at 3900 Wisconsin Avenue, NW which occupies 550 feet of frontage along Wisconsin Avenue NW, the site includes approximately 9.71 acres of land that is bound by a residential neighborhood to the south, Glover-Archbold Park to the west, and a private office building to the north; City Market at O & 880P, a million square foot, urban infill project in the heart of the Shaw neighborhood in Washington DC, which spans two city blocks and featuresnearly 90,000 square feet of retail, 550 luxury rental apartments, 90 affordable senior rental units, a 182-room key hotel, a 500-car parking garage, and incorporates the historic preservation of the nationally registered landmark O Street Market; Stonebridge at Potomac Town Center, a 105-acre mixed-use retail town center and residential community in Woodbridge, Virginia; and Cityline at Tenley, which preserved and transformed an abandoned historic Sears building into an award-winning mixed-use project that attracted Washington, DC’s first Best Buy and Container Storeretailers while also incorporating a contemporary addition of 204 luxury condominium units. Mr. Lake’s talent for working with development teams and optimizing a project’s full value potential throughout all stages of the real estate cycle is one of his greatest assets. He has also served as a consultant on several real estate projects throughout the country, with an expertise in place-making, by creating successful retail environments and public spaces that amenitize and enhance residential, commercial, and cultural uses to become vibrant mixed-use communities. Mr. Lake is a native Washingtonian and has been an active member of the business community for over 30 years. Prior to co-founding Roadside Development, he was the founding partner of The Retail Group and led Madison Retail Group, a full-service retail brokerage firm that was the dominant leader in the DC and Mid-Atlantic markets. He began his career in real estate as a broker with Smithy Braedon ONCOR International. He is a graduate of Boston University. Mr. Lake currently serves on the board of directors for several non-profit and economic development organizations, including Co-Chair of the Washington DC Economic Partnership, Iona Senior Services (also previously President of the Board), Executive Committee Member for DCBIA, Prince William County Economic Advisory Board and Trustee of Federal City Council. Mr. Lake is also a member of ULI and ICSC

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.

A Principal at Kohn Pedersen Fox, Doug has more than 25 years of experience in architectural design, contributing to some of the firm’s most respected and well-known projects. He has a reputation for his attention to detail and craft, resulting in award-winning projects built throughout the world. Doug has been active in Washington DC and Virginia; as Design Principal, he lead the design for the soon to be completed 1900 N Street, the recently finished 1775 Tyson’s Boulevard, a mixed-use LEED Platinum project in Tyson’s Corner, as well as the brand new 1000 Maine office building. The office, part of a large master plan to redevelop the waterfront district, has won numerous awards both locally and nationally for its design excellence and craftsmanship. Doug has demonstrated special skill in approaching complex transformation projects that deal with the reordering of spaces. His design for 390 Madison Avenue exemplifies his expertise in this area, carving out sections of existing floor slabs in the existing structure and redistributing the excised floor area elsewhere in the building. His work at the University of Kentucky College of Law exhibits a similar expertise in reshaping spaces through renovation. An advocate for sustainable and resilient architecture, Doug has designed some of the firm’s landmark “green” projects, including 555 Mission Street, the first LEED Gold office building in San Francisco, and the NYCHA Red Hook Houses Sandy Resiliency & Renewal Program, which focuses on decreasing the community’s vulnerability to potential natural disasters in the future. Passionate about his chosen profession, Doug is very active in the architectural community. He has been an adjunct professor and studio instructor for many schools, including the University of Hawaii and the University of North Carolina. As chair of the planning board of a suburban county near New York City, he uses his skills as an architect and designer to help people understand what the implications of development and building are to them, their future, and their families.

Ross Draber is the chief operating officer of United Bank, a subsidiary of United Bankshares, Inc., a $19.3 billion bank holding company. He is responsible for the performance and profitability of the Bank, directing commercial and consumer banking sales and service operations throughout the Washington, D.C. metro area. Draber oversees the region’s market presidents and works alongside them to drive growth and develop business strategy and execution plans. Draber has played an integral role in United Bank’s expansion since assuming the role in 2015. During that time, United Bank has grown to over 70 branches in Maryland, Virginia and Washington, D.C. It has the number one deposit market share among community banks in the Washington, D.C. Metropolitan Statistical Area. Draber is highly involved with the merger and acquisition team and was instrumental in the Bank’s successful acquisitions of Cardinal Financial Corporation and its subsidiaries George Mason Mortgage, LLC and Cardinal Wealth Services, Inc. (2017); Bank of Georgetown (2016); and Virginia Commerce Bank (2014). Draber previously served as a senior vice president of treasury and corporate finance. In this role, he managed the capital adequacy and regulatory risk of United Bankshares, Inc., serving on the Asset Liability Committee (ALCO) and stress test development team. He oversaw the mergers and acquisitions analysis and supervised commercial loan pricing and term sheet structuring within United Bank. Prior to that, Draber held several positions in treasury and credit administration. Draber is a CFA® charterholder and a 2017 Washington Business Journal 40 Under 40 honoree. He graduated from Washington and Lee University with a Bachelor of Science in Accounting and Business Administration.

Gary Franklin, CPA, is a partner in CohnReznick’s Bethesda tax practice. He has 15 years of private accounting experience and more than 15 years of public accounting experience providing client services in the areas of real estate, closely-held business, and high-net-worth individuals. He provides a wide variety of accounting, tax, and consulting services to a diverse client base. With his in-depth knowledge of existing and proposed tax law, Gary provides tax planning and strategy for businesses and individuals. He has helped clients streamline their business operations through changes in their structure. Clients include real estate developers, owners and operators, management companies, a diverse group of closely held businesses, and high-net-worth individuals. Gary’s private accounting experience includes Trizec Properties, a publicly traded REIT located in Chicago, Illinois. Trizec Properties owned and operated class A office buildings in top tier cities throughout the United States. In his role at Trizec Properties as the Director of Maryland Operations, he was responsible for the asset management of 2.7 million square feet of commercial office space located in such Maryland cities as Bethesda, Silver Spring, Rockville, and Baltimore. In addition to Trizec Properties, Gary gained extensive experience as a Group Financial Director with the Rouse Company, a publicly traded REIT located in Columbia, Maryland. The Rouse Company developed, owned, and operated regional malls, mixed-use, urban festival properties, and planned communities.

DOUGLAS J. DONATELLI is a co-founder and Principal of DSC Partners LLC. Prior to forming DSC, Mr. Donatelli was a co-founder of First Potomac Realty Trust (NYSE: FPO) and served as the company’s Chairman and CEO from 1997 until 2015. He led First Potomac’s growth from four properties totaling 800,000 square feet in 1997, through its IPO and listing on the New York Stock Exchange in 2003, to become one of the largest and fastest-growing real estate companies in the Greater Washington region with a portfolio valued in excess of $2.5 billion. Previously, Mr. Donatelli was Executive Vice President of Donatelli & Klein, Inc., a real estate development and investment firm located in Washington, D.C., and President of D&K Broadcasting, which owned Fox network affiliated television stations. Mr. Donatelli is active in numerous charitable and community organizations, including serving as Chair Emeritus of Catholic Charities of the Archdiocese of Washington, having served as Board Chair from 2012 to 2015. He also serves on the board of Higher Achievement, focused on enhancing educational opportunities for inner-city middle schoolers, and is former Vice Chair of the Kennedy Center Corporate Fund Board. He was named Trendlines TrendSetter of the Year in 2011, was named Man of the Year by the Boys and Girls Clubs of Greater Washington, and was a regional finalist for E&Y’s Entrepreneur of the Year. Mr. Donatelli received his Bachelor of Science degree in Business Administration from Wake Forest University.

Mr. Abdo is the CEO and President of Abdo Development, a District of Columbia development and construction company that has built its reputation as a pioneering, innovative developer of award-winning residential, commercial, hospitality and retail development. Founded by Mr. Abdo in 1996, the company has a strong philosophy in smart growth and adaptive reuse. To date, the company has completed over thirty significant development projects, totaling nearly 1B dollars and approximately 2 million square feet, and has received critical acclaim from both the community and the press for its responsible approach to development and is considered a leader in the renewal of Washington’s historic districts. Mr. Abdo currently sits on the board of the Institute of Current World Affairs, and is an Honorary Trustee of Arena Stage. He is also a former board member of The Bank of Georgetown, Fight for Children, DC Building Industry Association, The DC Preservation League, the DC Chamber of Commerce, The College of Wooster Alumni Board and others. A long-time D.C. resident, Mr. Abdo also served as a board member and chair of the Development Committee for the Washington Convention & Sports Authority Board, which was responsible for the development of the $537 million convention center hotel. Mr. Abdo has been the recipient of numerous awards, including Trendsetter of the Year, Washingtonian of the Year, Entrepreneur of the Year, and CEO of the Year.

John Sikaitis is Managing Director of Research, Advisory & Business Development for JLL’s Mid-Atlantic business based out of Washington, DC. In his current role, John leads the region’s Research, Business Development and Advisory teams and serves as the regional Head Strategist, advising our business on day- to-day business pursuits and our clients on real estate strategies. John joined the firm in 2005 as Director of Research for the Mid-Atlantic Region. In 2007, John took on the role of Director of Research for Mid-Atlantic and Southeast platforms. In 2009, John assumed the role Head of Office Research, Americas, leading the firm’s overall analysis, message and outlook for the macro U.S. and Canada office sector in a timely thoughtful, thorough, proactive and consultative approach. John added responsibilities beyond the office role in 2011, also assuming the role of Head of Local Markets Research for the U.S., taking on leadership of all of our U.S.-based local researchers and platforms. John’s focus was to grow and differentiate the local market expertise and quality of the firm’s research across 50+ markets. In that role, he drove a new data and reporting approach, messaging and client strategy and overall enhancements to not only the people aspect of the platform, but also the technology and client outreach platforms. In that role, John more than tripled the size of the local markets team to more than 100+ researchers and rolled out many new initiatives. In 2016, John traded airports and planes for his true passion, the Washington DC marketplace. In that vein, he is the firm’s market expert and strategist around the Washington, DC real estate market and economy. As a result of his experience and extensive real estate knowledge, John has advised local developers, institutional investors and REITs, including completing consulting projects for Brandywine Realty Trust, JBG Smith, Alony Hetz, Carr Properties, EagleBank, Monday Properties, TH Real Estate, Corporate Office Properties Trust, Vornado and Brookfield Properties, among others. John has also completed work for public sector entities such as the DC BID Council, the Golden Triangle BID, the NoMa BID, the Rosslyn BID, the Crystal City BID, Washington, DC Deputy Mayor’s Office of Planning and Economic Development and Montgomery County, among others. John sits on the JLL Americas Research Leadership team and is on the Board of Directors for the Golden Triangle Business Improvement District and the Associate Board of Directors for the Steers Center for Global Real Estate at Georgetown University. John is also involved in local non-profits such as Pathways to Housing DC, Food & Friends and Georgetown Lombardi Comprehensive Cancer Center. Education John received a B.S. from Georgetown University in 2001; a Specialization in Central American Relations from the Universidad de Costa Rica, San Jose, Costa Rica; and a Specialization in Latin American Economics and Development from the Universidad de Buenos Aires, Buenos Aires, Argentina.

Mr. Marquez is Executive Vice President and Chief Lending Officer - Commercial Real Estate of EagleBank and Executive Vice President of Eagle Bancorp, Inc. He joined EagleBank in August 2011. Mr. Marquez has over 35 years of experience in the banking industry. Prior to joining the Company, he established the real estate lending franchise for HSBC for the Washington, DC market. Earlier he was the head of Commercial Real Estate lending at Chevy Chase Bank from 1997 to 2005 and previously held various lending positions at The Riggs National Bank in Washington, DC after starting his career at the Chase Manhattan Bank in New York.

Hilary Allard Goldfarb is Senior Vice President and Regional Development Officer, Mid-Atlantic Region for Rockefeller Group. In this role, Ms. Goldfarb leads the company’s Mid-Atlantic Region, with primary responsibility for growing the company’s development portfolio through the sourcing of office, multifamily and mixed-use projects, adding to the company’s current development pipeline of approximately 17 million square feet. Ms. Goldfarb was previously Senior Vice President, Bozzuto Development Company, where she directed the development process for multifamily and mixed-use projects throughout the Baltimore-Washington region. Prior to joining Bozzuto, Ms. Goldfarb was Development Director at ProMark Real Estate, where she led development services for the company’s commercial portfolio, including negotiating entitlements and financing, securing public approvals and performing due diligence on acquisitions in Washington, D.C. and Maryland. She also spent four years at the Corcoran Gallery of Art in Washington, D.C., during a capital campaign to build a Frank Gehry-designed expansion, and has worked on economic development initiatives. Ms. Goldfarb has a master’s degree in Urban Planning from Harvard’s Graduate School of Design and a bachelor’s degree from Princeton University. About Rockefeller Group Rockefeller Group is a leading real estate developer, owner and investor, known since the development of Rockefeller Center for pioneering large-scale urban mixed-use development. For nearly nine decades the company has been trusted for its financial strength, stability and vision, and today remains committed to the selective acquisition, management and development of innovative, high-quality office, industrial, residential and mixed-use properties in urban centers and strategic distribution markets. The company combines the global perspective and market access of a sophisticated development and investment management platform, through its partnership with Tokyo-based Mitsubishi Estate Co. Ltd., and its strategic investments in independent property fund platforms in the United States and Europe. Visit RockefellerGroup.com.

Christopher Doerr, managing director, joined Walker & Dunlop Investment Sales group in November 2015. Mr. Doerr will be responsible for the origination and execution of investment sales and equity capital raise for multifamily assets in the Mid-Atlantic and will be based out of the Bethesda, Maryland office. Prior to joining Walker & Dunlop, Mr. Doerr served as a senior managing director for five years at Cushman & Wakefield where he worked with the owners of institutional real estate providing disposition services for multifamily properties and land in the Washington, D.C. area as well as joint venture structuring, recapitalization, and equity placement. Before Cushman & Wakefield, Mr. Doerr was vice president of multifamily investments for Grubb & Ellis. Mr. Doerr holds a juris doctorate/MBA from the University of Richmond and a BBA from James Madison University. Beyond the Company, Mr. Doerr is a member of the DC Real Estate Group, Urban Land Institute, National Multi-Housing Council, and the Virginia Bar Association.

Yulia Yaani is the co-founder and CEO of RealAtom, the first online marketplace for commercial real estate debt financing. Prior to RealAtom.com, Yulia managed commercial real estate investments for Amstar Global Partners, a U.S. private equity fund, as well as worked for Related Group in Florida. Yulia’s experience exposed her to the highly fragmented commercial real estate lending industry that lacks transparency and to real estate developers and investors that were wasting time and money in order to secure debt for their projects. As a result, she decided to build RealAtom, a marketplace for commercial real estate loans. RealAtom matches CRE borrowers directly with appropriate lenders, allowing for significantly lower costs of capital and a streamlined origination process. This is Yulia’s third start-up. Yulia received her MBA from Columbia University and holds Series 7 and 63 licenses.

Lynn Stith Bennett is the Executive Vice President for Coakley & Williams Construction where she oversees three Corporate Divisions: Risk Management, Corporate Operations, and the Executive Committee. Recently named a Partner of the firm, Lynn has more than 35 years of experience in construction, beginning her career as a Field Clerk and rising to an executive leadership position. She champions the company's culture to foster innovation and collaboration, providing opportunities for women – and for all employees. Lynn is the 2019 President of CREW DC, commercial real estate’s premier business network focused on the advancement of women. She is Vice Chair of the Board of Directors for ABC Metro Washington, which is comprised of distinguished construction industry leaders advocating for fair and open competition. As part of her role, she provides Executive Committee oversite on Legislative and Political Action matters and is a mentor for ABC’s Leadership Development Program. Her professional certifications include Designated Design-Build Professional™, LEED AP BD+C, and OSHA certifications in both Construction Safety & Health and Occupational Safety & Health. Lynn has been recognized by several industry associations for her leadership, including the Dedication and Commitment Award from Prince George’s County Small Business Initiative (SBI) in 2009, the Willow Award for Career Achievement from ABC Chesapeake in 2010, and the Corporate Leadership Award from CREW DC in 2016.