Commercial Real Estate Seminar
NOVEMBER 9, 2022
Jointly sponsored by Millsaps Executive Education and Rogers & Associates LLC, the Millsaps College Commercial Real Estate Seminar is an intensive, one-day seminar focusing on advanced investment practices in today’s commercial real estate climate. Seminar instructors are nationally recognized industry leaders. Eight hours of elective continuing education credits are available for real estate professionals and certified public accountants.
- When: November 9, 8:00 a.m. to 5:00 p.m.
with a Wine and Cheese Reception to follow
- Cost: $750.00 per attendee, discount for volume
- Lunch speaker: Marshall Loeb, CEO, EastGroup Properties
- Continuing Education Credits: The seminar has been approved for 8 hours of elective continuing education credits for real estate professionals and certified public accountants and 8.25 hours for attorneys.
STEVEN G. ROGERS
Managing Member, Rogers & Associates, LLC
Steve is the founder of Rogers & Associates, which focuses on providing specialized solutions and investments for principals and institutional owners in the real estate industry. He served as president and chief executive officer at Parkway Properties, Inc. for more than 25 years. He currently serves as chairman of the Boards of RREEF America REIT and Net Lease Alliance, and serves on the boards of CEDAR Realty Trust REIT, a NYSE listed REIT, and First Commercial Bank. He graduated from the University of Mississippi, went on the complete 5 years in the U.S. Army infantry attaining the rank of Captain, and received his MBA from Harvard in 1983.
Chief CRE Banking Officer, First Commercial Bank
Jamie Chustz is the Chief Commercial Real Estate Banking officer at First Commercial Bank in Jackson, MS. He has worked in the commercial real estate industry for 25 years. Prior to joining First Commercial, Chustz served as Senior Vice President and Commercial Real Estate Team Leader at BankPlus. He was an Asset Manager with Parkway Properties, a publicly traded Real Estate Investment Trust (REIT) previously based in Jackson.
JAMES M. INGRAM
Founder, Ingram Consulting
Jim most recently worked out of Hertz Investment Group’s Jackson (MS) regional office. As CIO, he was responsible for all acquisition and disposition activity in the company. He supervised the office leasing for approximately seven million square feet of office properties throughout the South. While at HIG, he led the acquisition of 31 office properties, totaling $1.7 billion in investment, and the disposition of 9 properties, totaling 4.7 million square feet and over $500 million.
WILLIAM R. FLATT
Principal, Free Market Ventures
William “Will” Flatt is a twenty-five (25) year real estate veteran and has held positions in nearly all aspects of real estate industry. He is currently a principal of Free Market Ventures, LLC a boutique real estate investing group in Chicago. In addition, he is a founding partner in Oxbow Ventures LLC, a venture capital endeavor with James “Jim” Barksdale, known for his role as CEO of Netscape Communications and other career successes. His prior experiences includes serving as Chief Financial Officer and subsequently Chief Operating Officer of an NYSE listed office REIT and as COO of a landlord focused office brokerage firm. Will is a founding member of the Board of Directors of City Office REIT (NYSE:CIO) where he chairs the audit committee and is member of the investment committee. He has served as a guest lecturer on real estate at the University of Texas McCombs School of Business and University of Chicago Booth School of Business. Will is a former Trustee and adjunct professor of economics at Millsaps College. He earned a Bachelor of Arts in Economics from Millsaps College and a Master in Business Administration from University of Chicago Booth School of Business. He is a current member of the Urban Land Institute (ULI), the Realty Club of Chicago and serves on the Board of City Year Chicago where he is Co-Chair of development committee and the Board of Downtown Evanston.
MARSHALL A. LOEB
President and CEO, EastGroup Properties
Marshall A. Loeb serves the Company as President, CEO. He was with EastGroup from 1991 to 2000, began with the Company as an Asset Manager and rose to Senior Vice President opening EastGroup’s Western Regional Office in Phoenix. Subsequent to EastGroup, Marshall served as the Chief Financial Officer of Parkway Properties, Inc. (2000-2005) and as President and Chief Operating Officer of Glimcher Realty Trust (2005-2015). In March 2015, he returned to EastGroup. Since 2018, he has served on the Board of Directors of Lamar Advertising Company. He received a B.S. degree in Accounting and a Master of Tax Accounting degree from The University of Alabama, then earned an MBA from the Harvard Graduate School of Business.
SCHEDULE OF EVENTS
7:30 – 8:00 am
8:00 – 9:30 am
ECONOMY, RECESSION, INFLATION, AND IMPACT ON COMMERCIAL REAL ESTATE
Steve Rogers presents a broad overview of the current real estate environment. He will also discuss the real estate cycle, offering investment strategies for the various stages of the real estate cycle. He will provide updates on the capital sources available at this stage of the cycle. There will also be some discussion of when is the best time to harvest value through asset sales.
9:45 – 11:00 am
MULTIPLE METRICS, EQUITY, AND DEBT
This session offers a synopsis of the various valuation techniques used by investors to determine and measure the risk and rewards of the investment. Will Flatt will offer insights into which tech- niques work best during differing circumstances and discuss some practical technical aspects of underwriting that can be used to advantage the investor.
11:00 am – 12:15pm
Contracts and Letters of Intent
Jim Ingram offers his considerable expertise on how to find, value and purchase income-producing properties. The real estate purchase process from project identification to closing will be explored in great detail with emphasis on current practice. Topics include the offering process, effective Letters of Intent, real estate purchase contracts, and organization of the closing process.
12:15pm – 1:15 pm
WORKING LUNCH – REITS: HOW THEY FIT INTO AN OVERALL INVESTMENT PORTFOLIO
Marshall Loeb, President and CEO, EastGroup Properties
1:15 – 2:30 pm
REAL ESTATE LENDING CLIMATE AND UNDERWRITING
Jamie Chustz will discuss the various types of debt financing and explain the advantages and disadvantages of each. The difference in recourse and non-recourse financing will be discussed, along with investor and bank views of each type of financing. Participants will learn about the most commonly used financial techniques used by lenders to underwrite loans, including debt service coverage ratio, loan to value, and debt yield.
2:45 – 4:45 pm
EQUITY CASE STUDY: HIGHLAND STEED PROJECT
This session will cover forms of equity ownership and how to raise private equity. It will explore expected rates of return from the various risk profiles of real estate and how to overcome common objections. The concept of risk and reward will be explored from the equity investor’s perspective. A case study of a real time office investment will be examined in small team settings.