Day One - 6/5Thursday, 5 June 2025 - PT (Pacific Time, GMT-08:00)

• How has your allocation to Real Estate changed in the past 12 months and how do you view it for the next 12-24 months?
• FO Investing with current market and new administration, any shift in trends/cause and effect?
• Is the current high interest rate environment influencing your RE investment strategy in terms of structure?
• What are the pros and cons to each of these investment models?
• How do you approach GP/LP joint ventures vs. co-investing with other family offices? Do you have a preference?
• How can fund managers make their offerings more attractive to family offices in this high interest rate environment?
• Do you allocate to emerging and/or small-medium sized funds?
• What does it take to get on your radar? Then what is the process of getting a deal over the line?
• Are there specific criteria you are looking for in deals and partners?
• Impeding issues with funds ability to call capital?
• Difficulties raising capital during impeding recession.
• Have you changed your position in the capital stack (preferred equity, mezzanine financing, debt, common equity)?
• How has your investment criteria changed?
• Requirements from operators: Have you asked to see the balance sheet of your operating partners? Have you asked for financials from your business partner to gauge liquidity and/or desperation to do deals or garner deal-level fees?

• What are your views on the future of office space? Which office property types are attractive investments?
• How are your underwriting assumptions changing?
• How has lending changed in office space? In terms of LTV, spreads, and term.
• How are you thinking about the types of tenants your property is best suited for and what the occupancy rates will be like for such tenants?
• Distressed opportunities?
• New market segments: (ex. last-mile industrial) Are local municipalities on board?
• Increased demand for land development: What are the drivers?
• Discussion about investments? How much scale and operational expertise required?

Impact on land prices and other supply-chain conflicts. Family office or institutional focus? Where does the investment come from?

• Best strategies to investing in mixed use
• High demand? Low demand?
• Retail Market Update and Investments
• What do deals look like now? How are you approaching valuations for retail properties?
• Is retail back?
• Impact of new construction and construction costs
• Discussion of financing and cap rates. Anything changed? Where do we go from here? What do you think of construction and value add? Alternative residential assets?
• Attractive opportunities in CMBS market to buy distressed retail assets?
• Retail conversion opportunities?
• How are retail landlords passing on inflation?
• Where are today’s opportunities in retail? Malls, lifestyle, grocery-anchored, power, community/strip, outlets, mixed-use, etc.
• Property value decline vs. good management
• Tax Benefits & Cash Flow
• Case Studies
• Pros and cons of mixed use

• Advantages of Value-Add Multifamily Investing
• Purchasing and Refinancing Options
• Discussion of financing and cap rates. Anything changed? Where do we go from here? What do you think of construction and value add? Alternative residential assets?
• Increasing Cash Flow?
• Value-add Loans
• Discussion of financing and cap rates. Anything changed? Where do we go from here? What do you think of alternative residential assets?
• Impact of new construction and construction costs
• Highlighting the structural of its appeal of various formats to family offices

• How much capital is still actively being raised for QOZ funds and how much has been deployed?
• QOZ funds & initiatives with new administration
• What kind of capital is being invested? Are LPs now more comfortable with QOZ investing? How to determine if a fund manager has the sufficient experience?
• What are QOZ funds investing in and where? How are fund managers underwriting deals? What are their due diligence processes?
• How do QOZ tax incentives compare to other forms of alternative financing, e.g. affordable housing tax incentives, foreign mezzanine finance and EB-5?
• How are lenders viewing such investments? What are typical terms/conditions?
• Are there distressed QOZ plays? What’s going on across property types in the current climate
• Which markets are primed to bounce back quickest and strongest? Why?
• With many people moving out of cities due to the pandemic, what opportunities are there to be found in urban areas? Distressed?
• Do QOZ actually provide benefits to the community? How are you gauging this impact?

• Alternatives assets include parking, co-working, self-storage, vaccine cold storage, cannabis real estate, large equipment storage, conservation. Are these the main alternative assets for family office? Which are more prevalent for FOs ?
• Is there any interest in manufactured housing, ADUs, student housing, senior housing, self storage, data centers, cold storage?
• More niche alternative asset classes
• Fractional ownership in single family homes as an alternative asset class
• How and where are you souring alternative asset deal flow?
• How do you go about investing? Passively vs Actively
• When investing in alternative asset classes, are you looking for cash flow or overall return?
• Which sectors have the most upside coming out of a tumultuous year?
• How important is portfolio diversification as a form of risk management?
• Are their banks/institutions lending on these asset classes? If so, what are the terms?
• What risks need to be considered when investing in niche opportunities, themselves?
• Do these alternatives lend themselves better to short or long term investments?

• Why are data centers relevant to family offices, the future of AI, and general industry trends?
• What does your investment in data centers look like? Which markets are appealing?
• Investment partnerships for data centers, who and what do you look for in a partnership to ensure ROI?
• Funds and technology companies to watch for in this space
• Challenges in investing in this asset class
• Disaster-prone areas/supply chain management
• Non-primary markets for data centers
• Will quantum computing be the next generation? How can you prepare?

• Where do you source deal opportunities? How does your real estate deal flow compare with other sectors?
• What’s been your focus over the last couple of years and does that look different as 2025 progresses? Are you planning any exits?
• How are you viewing specialized/niche investment strategies? Please give an example of a niche investment that you have made over the past 12mo or are looking to do.
• Any recent shifts in your CRE investment strategy/allocation? Debt/private equity? What is causing you to shift your position in the capital stack? If debt/preferred equity, what performance clauses or covenants are you putting in place to protect your downside?
• What resources are you using to mitigate risk? Any special clauses/covenants? Any special requirements from operators? (skin-in-the-game %, control rights, liquidity requirements)
• How do you deal with family generational/leadership issues?
• Is it possible to produce one comprehensive succession plan that services multiple generations?
• How can differences in views between generations be reconciled? With whom does the responsibility lie?

• What opportunities exist in the high yield debt/mezzanine loan market? What risks do these products carry, especially late in the cycle?
• Definition of high yield debt , lack of debt capital?
• Mezzanine loan, preferred equity , high-yield bridge debt: alternative products available?
• Cost of capital across real estate asset classes: what’s in and what’s out
• Family offices as investor or borrower?
• Hard Money alternatives
• What yields are investors getting on bridge and mezz loans for different property types? What new covenants and or performance clauses are you seeing?
• What’s the appetite of family offices for secured debt?
• How are private investors using hard money loans to structure deals?
• Will senior debt funds help newcomers enter the real estate lending market? Has anyone seen any liquidity issues with debt funds?
• Should you invest in real property, or the notes underlying the asset?
• Are you gravitating more to fixed- or floating-rate debt If fixed, how are you mitigating costs of defeasance/prepayment penalties?
• How attractive is C-PACE and other alternative financing?
• CMBS Issuances