The Frenetic Pace of Real Estate M&A

KEYNOTE SPEAKER Dr. Peter Linneman Principal Linneman Associates

Combine record M&A volume with the market's voracious appetite for real estate investments, and it's no surprise that REITs enjoyed an average return of 30% in 2006--up significantly from year-ago numbers. While there were several REITs buying up their counterparts, private equity firms also made their presence felt, most notably with Blackstone Group's $39 billion purchase of Equity Office Properties, a deal that currently stands as the largest LBO ever. Meanwhile, LBO firms and other investors are acquiring portfolios of real estate assets, in some cases teaming up with experienced operators.

While some of this activity comes down to simple economics, there are broader, equally important factors fueling real estate M&A, including the growing market for commercial mortgage-backed securities, trends in office space and the housing market and the present and future direction of interest rates. All the while, leading private equity firms in the large and middle markets are expanding their footprint in real estate--both as direct investors and indirectly as they seek to expand their franchises to new classes of alternative investments and companies in real estate-related businesses in pursuit of superior returns.

What's In Store?

Our half-day forum on this topic will feature experts who can speak to the convergence of real estate capital markets and private equity and current trends in the market, and make informed predictions on where things are headed.

Registration opens at 3:00 pm and commences with a cocktail reception ending at 7:00pm, providing the perfect opportunity for highly targeted networking.

Who Should Attend