The Execution Process: Ins & Outs of Flipping & Pivoting

Key drivers to get the best ROI, construction strategies & creative financing

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  Fabian Iobbi

  Fabian Iobbi joined Kor in November 2004 and is responsible for overseeing entitlements, design, and construction at Kor. Prior to joining Kor Fabian was a Project Manager for McCarthy Building Companies and Dreyfuss Construction. Fabian has managed all aspects of development, including due diligence, budgeting, procurement, schedule, entitlements, master planning, design and construction, and experience includes over 1,200 residential units (including over 700 adaptive-reuse and new construction units), 550 hotel units, 70,000 SF of office and retail, and 2,700 structured parking stalls. He holds a master's degree in Construction Management from the University of Southern California and a bachelor's degree in Civil Engineering from California State University.

  The Kor Group

  Principal, Development

  Fabian Iobbi

  Principal, Development

  The Kor Group

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  Chris Tourtellotte

  Chris Tourtellotte serves as a Managing Director of LaTerra. Chris is responsible for overseeing the Development group, sourcing and closing new acquisitions, sourcing debt and equity for LaTerra’s projects, and growing LaTerra’s apartment and mixed use development platform, which currently includes over 3,000 apartment units either under construction or in the pipeline. Prior to joining LaTerra, Mr. Tourtellotte spent 7 years at Prudential Global Investment Management (PGIM), a global real estate private equity investment fund manager with over $50 billion of gross assets under management. Most recently at PGIM, Mr. Tourtellotte held the position of Director, overseeing all development activity west of the Mississippi River with over 20 development deals at a total cost basis greater than $1 billion. Prior to Mr. Tourtellotte’s role overseeing West Coast development, he spent 5 years on the West Coast acquisitions team where he worked on closing over $1 billion in acquisitions across all property types (multifamily, office, retail, industrial, and hotels) and all layers of the capital stack (senior debt, subordinate debt, preferred equity and equity). Chris co-founded SnowGlobe Music Festival, which was ultimately acquired by MTV. SnowGlobe is a world-renowned annual music festival (featuring the largest musical acts in the world) drawing over 50,000 attendees over the three day event. Mr. Tourtellotte was responsible for raising the capital, and structuring and negotiating the investment documents prior to the inaugural 2011 festival. Mr. Tourtellotte was selected for Real Estate forum’s 50 under 40 list. Mr. Tourtellotte holds a Bachelors Degree in Business Administration (Cum Laude) with a double concentration (Finance & Accounting) and a minor in Real Property Development from California Polytechnic State University, San Luis Obispo, CA.

  LaTerra Development

  Managing Director

  Chris Tourtellotte

  Managing Director

  LaTerra Development

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  Brett Tanimoto

  Brett is a Partner and Chief Investment Officer at Vivo Investment Group. Prior to Vivo, Brett was an executive at The Muller Company, a Southern California based value-add commercial real estate investment company. During his tenure at The Muller Company, Brett was responsible for deal origination, underwriting, sourcing JV equity, asset management and disposition representing more than $1B of total capitalization. Prior to joining The Muller Company, Brett was an Associate at Westbrook Partners, where he focused on acquisitions and asset management. Prior to Westbrook Partners, Brett was an Analyst at UBS Investment Bank and Houlihan Lokey, where he focused on mergers and acquisitions and capital raise assignments. Brett graduated with a BS in Business Administration with a concentration in Finance from the Marshall School of Business at the University of Southern California in 2008.

  Vivo Investment Group

  Chief Investment Officer

  Brett Tanimoto

  Chief Investment Officer

  Vivo Investment Group

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  Evan Richardson

  President

  Reaume Richardson

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  A.J. Crane

  A.J. Crane is a Regional Director at Sonder, overseeing growth across the Western Region of North America. In that capacity, A.J. leads a team of real estate professionals in the various Sonder markets throughout the region to help source and execute on new master lease opportunities for the company. With over 8,000 live units and 18,000 signed units in roughly 40 markets, Sonder is revolutionizing hospitality through design and technology, making a world of better stays open to all.

  Sonder Hospitality USA Inc.

  Regional Director

  A.J. Crane

  Regional Director

  Sonder Hospitality USA Inc.

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  Sejal Sonani

  Sejal Sonani, AIA is a Principal and Managing Director at HLW, a leading architecture and design firm. Since joining HLW in 2012, Sejal has been instrumental in transforming the firm’s Los Angeles studio into a holistic practice with a strengthened focus on architecture. In the last five years alone, Sejal has overseen more than 1.5 million square feet of office projects in the area, while championing the firm’s adaptive reuse, repositioning, master planning, and ground-up construction expertise along the west coast from Silicon Beach to Silicon Valley. Currently, her team is designing over 500,000 square feet of transit-oriented redevelopment along LA’s Expo Line, aimed at creating vibrant, walkable, and prosperous communities anchored by sustainable mobility. The studio's active work builds on a nearly 30-year legacy of pioneering economic growth through transformative design. In recent years since, the team has continuously evolved to help reshape the city’s built environment, including reimagining the former Macy’s store at Westside Pavilion as a creative office campus, redeveloping abandoned industrial parks into urban institutions, and renovating the city's first historic-designated skyscraper, Union Bank Plaza.

  HLW

  Principal, Managing Director LA

  Moderator

  Sejal Sonani

  Principal, Managing Director LA

  HLW

The How & When: Repositioning at its Finest

Feasibility, permitting, zoning, and mitigating risks

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  Eddie Lorin

  Eddie Lorin is managing member and co-founder of Strategic Realty Holdings. He is a real estate owner, developer and acting principal. Through the course of his career, Eddie has successfully acquired more than 200 properties; 40,000 units contained in over $4.2 billion in real estate. Eddie is one of the original “mission-oriented investors” before impact investments focused on delivering a triple bottom line…financial, environmental and social returns to its investors, residents and its stakeholders. Eddie is a member of the EIG and the Novogradac coalitions for Opportunity Zones. Eddie is also co‐founder of the 501c3 HAPI Foundation with his wife Jane which was developed to promote health and wellness in low-income apartment communities. Earning his bachelor's degree from the University of California, Los Angeles and has been a licensed California real estate broker since 1988. He has two college-age daughters and lives in Westlake Village, CA with his wife.

  Strategic Realty Holdings

  CEO & Founder

  Eddie Lorin

  CEO & Founder

  Strategic Realty Holdings

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  Nick Griffin

  As the Downtown Los Angeles Alliance's Executive Director, Nicholas ‘Nick’ Griffin spearheads the organization’s efforts to attract new businesses, retailers, investors and residents to what has grown to become one of the nation’s most dynamic urban centers. Hailed the “next great American City,” by GQ Magazine, Downtown LA has experienced unprecedented growth over the past 16-years, in large part due to the efforts of the DTLA Alliance's economic development team. Prior to the DTLA Alliance, Nick spent more than 25 years in business development in the real estate, media/entertainment and technology industries. For the previous 10 years, Nick was a leading commercial leasing and sales broker in New York City, where he was responsible for more than $100M in transactions. Prior to his rise in real estate, Nick spent a decade as a marketing and sales executive in the creative media and technology industries. Nick is a graduate of UCLA and holds an MBA from Ohio State University.

  DTLA Alliance

  EVP

  Nick Griffin

  EVP

  DTLA Alliance

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  Mark Oberholzer

  Mark Oberholzer supports clients’ goals with energetic visioning, inspiring design and detail-oriented expertise. Mr. Oberholzer brings a focused, personalized approach to clients, working together to find outstanding solutions that are uniquely tailored to the specifics of each project. With over 20 years of award-winning design work focused on mid and high rise urban, mixed-use projects, Mr. Oberholzer knows what it takes to bring innovative yet practical ideas to reality. Mr. Oberholzer’s ability to both listen and lead allows him to help clients succeed in all aspects of projects. Whether it’s a giving a presentation to a corporate board, navigating a complicated entitlement process, or maintaining design integrity from vision to detail, Mr. Oberholzer helps everyone understand clients’ vision and goals in a way that helps smooth the way for success.

  KTGY

  Principal

  Mark Oberholzer

  Principal

  KTGY

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  Casey McCormick

  Casey McCormick, Founder and CEO of McCormick Compliance Consulting, a Milrose Company, has over 24 years of experience as an entrepreneur and is a leading authority in the USA on municipal approvals processes and construction permitting. Casey has managed over $25B+ in construction projects throughout his career. He has perfected a high-service model to keep projects ahead of schedule and teams updated on projects of all sizes. From tenant improvements to mega-developments, Casey's portfolio speaks for itself. Notable projects include the 17.5-acre One Beverly Hills, an environmentally advanced development featuring the Beverly Hilton, Waldorf Astoria, and Aman Hotel; the $450 million Echelon Studios in Los Angeles, a state-of-the-art film and TV production facility; as well as Halsted Pointe in Chicago, a multi-phase development with 2,650 residential units, office and retail space, and a hotel.

  McCormick Compliance Consulting

  Founder & CEO

  Casey McCormick

  Founder & CEO

  McCormick Compliance Consulting

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  Joshua Loeb

  Joshua Loeb is a Partner in Ervin Cohen & Jessup LLP’s Real Estate Department. Joshua’s practice encompasses a broad cross-section of real estate transactions, including acquisitions and dispositions, capital markets and construction. Joshua’s primary practice areas focus on real estate acquisitions and dispositions of all asset classes, as well as the representation of both borrowers and lenders in connection with a variety of real estate financing transactions, including acquisition financing, construction financing, mezzanine loans, loan modifications and restructurings. He also has substantial experience in the preparation and negotiation of construction agreements (both AIA and custom agreements) on the developer’s side for the construction of commercial, multi-family and high-end residential properties.

  Ervin Cohen & Jessup

  Partner

  Moderator

  Joshua Loeb

  Partner

  Ervin Cohen & Jessup