SPECIAL SPEAKER SERIES
The Special Speaker Seminar Series was developed in 2000 by Fereydoon Ghaffari, past president of the LAI Los Angeles chapter and Dr. Donald Bliech, CSUN Professor and Director of the Center for Real Estate. Seminars focused on a variety of real estate topics, aimed at linking both organizations to the community, and are open to the real estate community, CSUN real estate majors and faculty, and Lambda International members. They fulfilled three objectives; to supplement the business curriculum at CSUN, to provide a link between the world of land use and land development and the classroom, and to provide an opportunity for distinguished members of LAI to share their insights with the community.
For further information, please contact Fereydoon Ghaffari at FG@GhaffariAssociates.com,
visit www.csun.edu/cre or call 818-677-2459 begin_of_the_skype_highlighting 818-677-2459 end_of_the_skype_highlighting.
RECENT SPEAKER EVENT
Wednesday, February 24, 2009, 7:00pm,
College of Business and Economics, Cal State Northridge, Northridge
How Entitled Are You?
The Los Angeles Chapter, in collaboration with the California State University Northridge’s Real Estate program held its latest Speakers’ Series, Wednesday, February 24, 2010. Our panelists included our very own Fereydoon Ghaffari, President of Ghaffari Associates, Paige Serden, Senior V.P., City National Bank, and guest panelist Brad Rosenheim, President of Rosenheim & Associates. Debi Kroman, V.P., North American Title, introduced the panel and provided a brief description of the evening’s topic: “Real Estate Development from Planning to Completion”.
Fereydoon Ghaffari began the discussion with a hand-out detailing a proposed hypothetical mixed use project which was comprised of 88 apartments with 14,000 square feet of street level retail and subterranean parking. Mr. Ghaffari went on to describe the scope of the project, which included the physical program and a breakdown of construction costs/construction loan, permanent financing and projected operational income and expenses, with anticipated returns on investment.
Brad Rosenheim shed light on the entitlement process of the project. His extensive background in land-use, strategic planning and project management gave the students insight into dealing with city planners, city council and neighborhood organizations. From his viewpoint, the entitlement process is, overall, a politically charged one. He also noted that, in the interest of reducing traffic the city’s new additions to its zoning ordinance, such as creation of a Mixed Use Zone, provides incentives to developers to create higher density projects near rapid transit stations.
Paige Serden drew from her 15+ years of construction lending to indentify the various stages of financing this type of project. She shared that lenders analyze a project from a variety of angles. Ms. Serden further noted that although, based on the proforma presented, the project appears to be an acceptable candidate for financing, the bank would be looking for the developer’s background, experience and its financial solidarity before committing the financing. The hand out included two pages of required information for processing of Construction and Bridge or Term loans requests.
Judging from the numerous questions from the students and ensuing dialogue, the LAI-LA Chapter Speakers’ Series, once again, met its goal of enhancing the educational experience for the next generation of land economics leaders.
Monday, November 23, 2009, 7:00pm,
College of Business and Economics, Cal State Northridge, Northridge
"Hollywood Improvement District - Planning and Accomplishments"
The Los Angeles Chapter, in collaboration with the California State University, Northridge’s Real Estate program (in the College of Business and Economics) held its latest Speakers’ Series Monday, November 23, 2009 to a packed auditorium classroom. Guest panelists were Leron Gubler, President & CEO of the Hollywood Chamber of Commerce, and Jeff Kreshek, Principal, Leasing at CIM Group. Jeff and Leron represent the caliber of public-private collaboration that has succeeded in rejuvenating real estate hubs such as the Hollywood District.
Professor Don Bleich moderated the panel, while LAI-LA Chapter’s Elizabeth Ghaffari pinch-hit for a flu-decked Fereydoon Ghaffari, co-founder of the LAI-LA Speakers’ Series.
Leron has over three decades of chamber management experience, most recently since 1992 as head of the Hollywood Chamber. When he took over, Hollywood was on its heels, the Chamber’s membership dwindling and its coffers near bankruptcy. He led the Chamber’s return to financial solvency (today with a $2 million/year budget). His presentation described the incremental collaborative steps he, the Chamber, public officials, and business owners took to lobby on behalf of major civic improvements, area development projects, while fostering community support. Leron described the challenges business and the community faced in building the core Hollywood Business Improvement District (BID) and the new BID for East Hollywood.
Jeff has an equally extensive track record as a real estate developer, leasing, and management professional. In 1999, he joined CIM Group Inc., a premier real estate fund manager that makes private equity and/or debt investments in urban communities throughout North America. Jeff presented the private-sector bookend to Leron’s chamber story, describing the challenges of leasing space block by block along the primary Hollywood core retail and commercial areas. His discussion gave the students insight into how private equity/debt investors take on the risks over time and turn them into quality leases with solid revenue streams. His words of encouragement, drawn from his own experience of selling at the bottom or earlier recessions, gave the students perspective on surviving the current downturn.
The collaboration represented by these two panelists epitomizes how well the LAI-LA Chapter Speakers’ Series meets its goal of providing a quality inter-disciplinary educational experience for the next generation of land economics leaders.
