IREI : LIVE | Life Sciences

Defining Life Sciences Opportunity Sets

Webinar: Tuesday, May 18, 2021 at 10:00 a.m. – 12:30 p.m. Pacific Time

We will examine the fundamental drivers of the life sciences sector, define opportunity sets and a review of various ways risks can be managed for fund investors. Attendees will also gain new insights about markets as well as emerging trends from this sector.

10:00 a.m.  Welcome & Opening Remarks

Geoffrey Dohrmann, President & CEO, Institutional Real Estate, Inc.

10:00 a.m.  Part I: Life Sciences Opportunity Sets

• Size and Scale: What’s Driving Life Sciences Sector?
  What are the fundamental drivers for this sector? What is the long-term supply/demand dynamics? Are these trends sustainable? How does life sciences compare to other real estate sectors, such as office?
• Attractive Risk-Adjusted Returns: Resiliency in a COVID & Post-COVID World.
  What are the unique attributes of life sciences? How has COVID-19 changed the industry? How do you think it will change the industry going forward?
• Established Markets vs. Emerging Markets
  What are the elements that create dynamic life sciences clusters? Why did San Francisco and Boston become dominant markets? Can smaller markets become the next San Francisco or Boston type market?

Moderator:

Chase McWhorter, Managing Director, Americas, Institutional Real Estate, Inc.

Panelists:

Dan Belldegrun
Chief Executive Officer & Co-Founder
Breakthrough Properties

Jon Gelb
Managing Director & Portfolio Manager
Clarion Partners, LLC

Austin Carmichael
Real Estate Investment Officer
Oregon State Treasury

11:10 a.m.  Virtual Break

11:20 a.m.  Part II: Life Sciences Opportunity Sets

• Buildings: Existing vs. Retrofit vs. New Construction
  What are the challenges and benefits of three different approaches to life sciences buildings? Where do each of these approaches fit into risk/return profiles? What questions should fund investors ask managers to help evaluate different fund strategies and managers?
• Value-add differentiators: Tenant Management
  What do life sciences companies look for in their real estate (location, owner/developer, physical attributes, etc.)? How do you develop a tenant management strategy? What types and credit quality of tenants are optimal?
• Established Markets vs. Emerging Markets
  What are the real estate fundamentals of established vs. emerging markets? We will compare supply/demand metrics, deal flow outlook, vacancy rates and outlook on rental growth of these two types of markets.

Moderator:

Chase McWhorter, Managing Director, Infrastructure, Institutional Real Estate, Inc.

Panelists:

Joe Marconi
Managing Director
Bain Capital Real Estate Partners

Alex Roberto
Vice President, Portfolio Management
L&B Realty Advisors

Maria Surina
Sr. Investment Director, Real Assets Investment Group
Cambridge Associates

12:20 p.m.      Wrap-Up

Geoffrey Dohrmann, President & CEO, Institutional Real   Estate, Inc.

12:30 p.m.     Adjourn

 

IREI Live Webinar Life Sciences Speakers

Geoffrey Dohrmann
President & CEO
Institutional Real Estate, Inc.

Geoffrey Dohrmann, CRE, is the founder and as a director, the president and CEO of Institutional Real Estate, Inc., a San Ramon, Calif.–based publishing and consulting company focused on meeting the information needs of the institutional real estate, infrastructure and private wealth advisory investment communities. In this capacity, he also serves as publisher and editor-in-chief of several leading industry publications, including Institutional Real Estate Americas, Institutional Real Estate Europe, Institutional Real Estate Asia Pacific, FundTracker, Institutional Investing In Infrastructure, Real Assets Adviser and Newsline. Dohrmann also serves as conference producer of IREI’s industry events, including Visions, Insights & Perspectives (VIP) Americas, VIP Europe, Institutional Investing In Infrastructure (I3), IREI CEO Summit and IREI Springboard. Dohrmann consults with many of the leading firms in the real estate investment management industry, and also has lectured on institutional real estate market–related matters at elite U.S. business schools.

Chase McWhorter
Managing Director, Americas
Institutional Real Estate, Inc.

Chase McWhorter serves as Managing Director of Institutional Real Estate Americas for Institutional Real Estate, Inc. (IREI), an industry-leading publication focused on meeting the information needs of the institutional real estate community. In this capacity, he is responsible for global business development and client service focused on publication sponsorships, while also leading the recruitment of top institutional investors who serve on the Editorial Advisory Board of Institutional Real Estate Americas with the publication’s sponsors. McWhorter has more than 10 years’ experience in the real assets investment industry. McWhorter is a graduate of the University of Southern California, receiving a B.S. in Public Policy, Planning and Development, while also winning three Pac-10 Championships and two Rose Bowls as a member of the USC Trojan football team.

Dan Belldegrun
Chief Executive Officer & Co-Founder
Breakthrough Properties

Dan Belldegrun is chief executive officer and co-founder of Breakthrough Properties, in charge of overseeing investment and operational activities. Prior to founding Breakthrough, Belldegrun spent eight years at Tishman Speyer, where he was a senior director, acquisitions and development, in the Bay Area and New York regions. As part of the team, he completed more than $575 millions of transactions and managed the entitlement, design and financing of several large-scale development projects in San Francisco. Having grown up in the Bellco Capital family business with a deep understanding of biotech’s growth potential, Belldegrun envisioned and executed the Breakthrough Partnership.

Austin Carmichael
Real Estate Investment Officer
Oregon State Treasury

Austin Carmichael joined the Oregon State Treasury (OST) as a real estate investment officer in 2014. Carmichael’s primary responsibilities are the oversight and implementation of the real estate portfolio for the Oregon Public Employees’ Retirement Fund (OPERF). OPERF’s approximately $9 billion real estate portfolio consists of both separately managed accounts and commingled vehicles and is diversified across core, value-add and opportunistic risk profiles. Prior to joining OST, Carmichael was a consultant at Pension Consulting Alliance and also previously worked at Partners Group.

Jon Gelb
Managing Director & Portfolio Manager
Clarion Partners, LLC

Jon Gelb is a managing director at Clarion Partners and portfolio manager of the firm’s open-end core fund. Gelb has responsibility for all facets of fund management, including acquisitions and dispositions, asset management and investor communications. He has led a number of large life sciences acquisitions in recent years across markets. Prior to his current role, Gelb worked in Clarion’s Acquisitions Group and helped oversee the firm’s value-add fund. Gelb joined Clarion in 2007.

Joe Marconi
Managing Director
Bain Capital Real Estate Partners

Joe Marconi leads Bain Capital Real Estate’s office sector and is a member of the Investment and Management Committees. He has more than 20 years of experience, participating in more than $5 billion of acquisitions and development projects, across all asset types. Prior to Bain Capital, Marconi was a senior vice president – portfolio manager in Harvard Management Company’s (HMC) Real Estate Group, responsible for oversight of the Direct Investment Portfolio. Prior to HMC, Marconi was an investment officer at Guggenheim Real Estate. He started his career in PwC’s M&A and Real Estate Advisory groups.

Alex Roberto
Vice President, Portfolio Management
L&B Realty Advisors

Alex Roberto joined L&B in 2016 and has 14 years of industry experience. He is responsible for the management of a $3.5 billion nondiscretionary public pension client. His responsibilities include oversight of the acquisition, disposition, financing, asset management, construction management and returns of the portfolio, as well as crafting new investment strategies. Prior to joining L&B, Roberto worked as a vice president at a discretionary value-add retail fund, managing more than $400 million of equity investments and 3 million square feet of retail, as well as helping to institute a formal policies and procedures practice for the asset management group.

Maria Surina
Senior Investment Director, Real Assets Investment Group
Cambridge Associates

Maria Surina is a senior investment director, based in Boston, and a member of the Real Assets Investment Group. Surina is a real estate specialist and focuses on investment idea generation and due diligence primarily in North American real estate markets and across different structures, such as funds, co-investments and direct investments. In addition, Surina works with U.S. pensions and Middle Eastern families. Prior to joining Cambridge Associates in 2018, Surina had roles with Bain Capital Real Estate, DESCO Group and Altus Group. She has experience in portfolio management, direct real estate investment and asset management in the office sector.

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A Virtual Platform

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Gold

Bain Capital Real Estate, LP

Breakthrough Properties

Clarion Partners

L&B Realty Advisors, LLP

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