Category: Roundtable Annual Meeting

Policymakers and Industry Leaders Address CRE Policy Priorities at Annual Meeting

Posted on by abigail_grenadier

The Real Estate Roundtable’s (RER) 2026 Annual Meeting this week included discussions with policymakers and industry leaders on issues affecting commercial real estate, including housing supply, tax policy, capital and credit markets, energy and grid reliability, federal buildings, data centers, tariffs, foreign capital, and evolving security threats. (RER Policy Priorities | Executive Summary)

Roundtable Leadership

L-R: RER Chair Kathleen McCarthy Baldwin & Immediate Past Chair John Fish
  • RER Chair Kathleen McCarthy Baldwin (Former Global Co-Head of Real Estate, Blackstone) opened the meeting by welcoming members and highlighting the importance of RER’s policy advisory committees to the industry’s advocacy work. (RER Policy Priorities | Executive Summary)
  • Immediate Past Chair John Fish (Chairman & CEO, SUFFOLK) commended McCarthy Baldwin’s service and dedication as Chair of RER.
  • “Kathleen’s impact can be seen in nearly every aspect of The Roundtable today,” Fish said. “She has strengthened our communications, elevated our meetings, and helped ensure RER remains a powerful, respected voice for real estate in Washington.”
  • McCarthy Baldwin thanked the board, membership, and staff, calling it a “huge honor” to chair an organization that is effective in advancing policies that shape the built environment and support the people who live, work, and visit buildings across the country.
  • Owen D. Thomas (Chairman and CEO, BXP) will begin his three-year term as RER Chair on July 1, 2026.
  • During the meeting, RER members approved the nominees for its FY2027 board of directors and policy advisory committees chairs, which were presented by RER Nominating Committee Chair Anthony E. Malkin (Chairman and Chief Executive Officer, Empire State Realty Trust, Inc.; Chair, RER Sustainability Policy Advisory Committee).
RER President and CEO Jeffrey DeBoer
  • Addressing the membership, RER President and CEO Jeffrey DeBoer said the past 12 months were “among the most complex and fast-moving in political history,” requiring smart, coordinated advocacy on housing supply, tax policy, energy, terrorism risk insurance, cyber information sharing, and capital markets. (DeBoer Remarks, June 10)
  • He emphasized that RER’s strength comes from its “big tent” approach, bringing together members, policy advisory committees, and national real estate partners to deliver a unified, data-driven voice in Washington and advance policies that support smart supply, appropriate capital, and business certainty.

Meeting Speakers

  • Sen. Chris Coons (D-DE) (Committees: Appropriations, Foreign Relations, Judiciary, Small Business and Entrepreneurship, and Ethics) connected the housing supply crisis to broader questions of economic growth, affordability, infrastructure, and U.S. competitiveness, emphasizing the need for bipartisan solutions on workforce housing, building conversions, tariffs, grid reliability, data centers, and global instability.
  • Curt Beaulieu (Senior Policy Adviser to House Speaker Mike Johnson) joined RER Tax Policy Advisory Committee (TPAC) Chair Josh Parker (Chairman & CEO, Ancora Group Capital), and Ryan McCormick (Senior Vice President and Counsel, RER) for a policy discussion on the One Big Beautiful Bill Act; the House Leadership’s tax, housing, and affordability agenda; potential legislation in the remainder of 2026; and the role industry leaders play in educating lawmakers.
  • The Honorable Edward Forst (Administrator, General Services Administration; Acting Archivist, The National Archives) outlined GSA’s efforts to consolidate and modernize the federal real estate footprint, improve transparency, and identify opportunities to reuse federal assets in cities across the country.
  • Sen. Peter Welch (D-VT) (Committees: Agriculture, Judiciary, Finance, and Rules & Administration) commented on Energy Star and energy efficiency, artificial intelligence, data centers, and the growing energy demands affecting property development and infrastructure.
  • Rep. Bill Huizenga (R-MI) (Vice Chair, House Financial Services Committee; House Foreign Affairs Committee) highlighted the Financial Services Committee’s work this year on terrorism risk insurance reauthorization, the 21st Century ROAD to Housing Act, and ongoing House-Senate efforts to advance the housing package to the president’s desk.
  • Senate Democratic Leader Charles Schumer (D-NY) outlined the policy and political challenges shaping the housing and economic debate, including tariffs, rising building costs, housing supply constraints, local zoning reform, tax incentives to convert obsolete buildings into housing, the Low-Income Housing Tax Credit, and the need to restore certainty to the economy.
  • Jonathan Martin (Politics Bureau Chief and Senior Political Columnist, Politico) discussed the political forces shaping Washington, the upcoming midterm elections, and the role of technology, media, and political identity in transforming American life.

RER’s 2026 Annual Report will be distributed in July. Next on RER’s FY 2027 meeting calendar is the Fall Meeting, which will take place on Nov. 11-12 and is restricted to Roundtable-level members only.

Inside RER’s Policy Committee Discussions on Capital Markets, Tax Policy, Sustainability, and Homeland Security

Posted on by abigail_grenadier

The Real Estate Roundtable’s (RER) policy advisory committees met this week during the 2026 Annual Meeting for focused discussions on the federal policy issues shaping commercial real estate, from capital formation and housing supply to tax policy, grid reliability, data centers, and security threats.

Joint Real Estate Capital Policy Advisory Committee (RECPAC) and Research Committee

  • The joint Real Estate Capital Policy Advisory Committee (RECPAC) and Research Committee meeting focused on financial regulation, capital markets, housing, terrorism risk insurance, the economic outlook, and market conditions. (RECPAC Research Agenda | RER’s Capital & Credit Policy Priorities)
Rep. Andy Barr (R-KY) 
  • Rep. Andy Barr (R-KY) (Chairman, House Financial Services Subcommittee on Financial Institutions; Member, Committee on Foreign Affairs) discussed the policy issues shaping credit capacity and capital formation for real estate, including the Basel III Endgame, the flow of institutional investment capital into real estate and housing, data centers, and U.S. competitiveness with China on artificial intelligence. He also highlighted the HFSC’s work on the TRIA Program Reauthorization Act of 2026 (H.R. 7128), the 21st Century ROAD to Housing Act, and his hope that the Senate will move the bipartisan housing package forward.
Rep. Andrew Garbarino (R-NY)
  • Rep. Andrew Garbarino (R-NY) (Chairman, House Homeland Security Committee; Vice Chairman, House Financial Services Subcommittee on Capital Markets) briefed members on terrorism risk insurance (TRIA), housing affordability, data centers, foreign capital and the Foreign Investment in Real Property Tax Act (FIRPTA). Rep. Garbarino emphasized the need to renew TRIA by the end of the year, ahead of its 2027 expiration.
  • Kenneth Rosen (Managing Director, Andersen; Chair, Fisher Center for Real Estate and Urban Economics at the Haas School of Business, University of California, Berkeley) presented an overview of real estate markets, the outlook for interest rates and market conditions, and the role of AI and the growth of data center development.  His talk also included the outlook for labor markets, the “K-shaped” economy, and varying conditions across real estate sectors.
  • Spencer Levy (Global Client Strategist & Senior Economic Advisor, CBRE) moderated a market discussion with Sam Chandan (Director, Chao-Hon Chen Institute for Global Real Estate Finance, NYU Stern School of Business); Rich Hill (Senior Managing Director and Global Head of Research & Strategy, Principal Asset Management); Darin Mellott (Head of U.S. Investor Research, CBRE); and Nicholas Seidenberg (Managing Director, Eastdil Secured).
  • The panel discussed real estate credit and capital market conditions, occupancy and sector-specific market trends, the outlook for housing, data center development and financing, and investment trends shaping the industry.

Tax Policy Advisory Committee (TPAC)

  • Tax Policy Advisory Committee (TPAC) Chair Josh Parker (Chairman & CEO, Ancora Group Capital) led discussions on tax legislation and regulatory issues affecting real estate, including reconciliation, the Rental Housing Investment Act, pass-through tax issues, housing investment, foreign investment tax policy, and other tax priorities under consideration in Washington. (TPAC Agenda | RER’s Tax Policy Priorities)
Sen. Lisa Blunt Rochester (D-DE)
  • Sen. Lisa Blunt Rochester (D-DE) (Committees: Banking, Housing, and Urban Affairs; Commerce, Science, and Transportation; Environment and Public Works; and Health, Education, Labor, and Pensions) joined TPAC members to discuss housing affordability and supply, including her legislation, the RER-supported Rental Housing Investment Act, as well as transit-oriented development and bipartisan approaches to expanding rental housing options. (Roundtable Weekly, March 27)
  • Andrew Grossman (Chief Tax Counsel, House Ways and Means Committee Democrats), Michael Gould (Tax Counsel, Senate Finance Committee Republicans), and Bobby Andres (Tax Advisor, Senate Democratic Leader Chuck Schumer) joined TPAC to discuss Congressional tax policy priorities, real estate, and the outlook ahead.
  • Treasury Tax Legislative Counsel Krishna Vallabhaneni provided an update on OBBBA implementation, Treasury regulatory initiative, and tax guidance projects affecting the real estate industry.
  • CJ Aberin (Principal and Co-founder, KBKG); Corey Husak (Director of Tax Policy, Center for American Progress); William McBride (Chief Economist, Tax Foundation); and Gilbert J. Winn (CEO, WinnCompanies) discussed new federal tax incentive proposals aimed at boosting housing supply. (RER’s Housing, Infrastructure and Cities Policy Priorities)

Sustainability Policy Advisory Committee (SPAC)

  • SPAC Chair Anthony E. Malkin (Chairman and Chief Executive Officer, Empire State Realty Trust, Inc.) and Vice Chair Tamara Chernomordik (President of Strategic Projects & Change Management, Kimco Realty) led discussions on state-level energy policy, building performance, federal energy data, electricity prices, grid reliability, large load growth, data centers, and global transition risk. (SPAC Agenda)
  • SPAC special guests presented on an alert from the North American Electric Reliability Corp. (NERC) that may result in data center federal-level registration and reporting; state-level energy policy; energy management across the U.S. military’s real estate portfolio; and the U.S. Department of Energy’s Building Performance Database. (RER’s Energy Policy Priorities)
  • The meeting came as energy, data centers, and permitting reform remained in focus in Washington this week. At the POLITICO Energy Summit, FERC Chair Laura Swett said the commission will soon act on a proposal to accelerate data center interconnections, while top Senate permitting negotiators expressed optimism that Congress could still reach a permitting deal this year. (POLITICO | E&E News, June 11)

Homeland Security Task Force (HSTF)

  • The Homeland Security Task Force (HSTF) Chair Amanda S. Mason (Executive Director, Global Intelligence, Related Companies) led discussions on evolving security threats affecting the commercial facilities sector, including cyber risk, physical security, operational continuity, data center security, and reauthorization of terrorism risk insurance. (RER’s Homeland Security Policy Priorities)
  • HSTF members received briefings from the FBI Counterterrorism Division, Cyber Division, and the FBI DC Field Office on Threats from Iran and its Proxies: Priority International Terrorism Threats; and Cyber and Espionage Threats to Commercial Facilities and Data Centers.
  • To discuss the risk management challenges for real estate in today’s market, Duncan Ellis, Industry Practice Leader for Marsh’s U.S. and Canada Real Estate & Hospitality, provided an update on commercial insurance markets and TRIA reauthorization. 
  • The meeting included a briefing from a representative from the DHS Office of Intelligence and Analysis, who delivered a briefing on lone offender threats associated with the World Cup games

The next in-person policy committee meetings are scheduled for RER’s State of the Industry Meeting, Jan. 28-29, 2027. (Meeting Calendar)

Industry Leaders Discuss Economic Outlook, Policy Priorities, and Geopolitical Challenges at Annual Meeting

Posted on by abigail_grenadier

The Real Estate Roundtable’s (RER) 2025 Annual Meeting this week included discussions with public officials and industry leaders on a range of issues affecting commercial real estate, including market conditions, tax policy, the House’s recent passage of the One Big Beautiful Bill Act, tariffs and trade, affordable housing solutions, energy policy, and evolving security threats.

Roundtable Leadership

  • RER Chair Kathleen McCarthy (Global Co-Head of Blackstone Real Estate, Blackstone) opened the meeting by thanking members for their consistent engagement and highlighting the significance of RER’s collaborative efforts in navigating a rapidly evolving policy landscape. (May 2025 Policy Priorities and Executive Summary)
  • During the meeting, RER members approved the nominees for its FY26 board of directors and policy advisory committee officers, which were announced by RER Nominating Committee Chair Geordy Johnson (CEO, The Johnson Group).
  • Addressing the membership, RER President and CEO Jeffrey DeBoer emphasized RER’s ongoing commitment to enhancing member involvement through RER’s policy advisory committees and underscored the value of strategic partnerships with other national real estate organizations for proactive policy advocacy. (Meeting Agenda)

Meeting Speakers

  • The Honorable Kevin Hassett (Director, National Economic Council) presented the administration’s economic agenda, focusing on housing initiatives, factory expensing, and the outlook for growth.
  • (L-R): Hessam Nadji (President and CEO, Marcus & Millichap), Martha Gimble (Executive Director, The Budget Lab at Yale University), and Jonathan Pollack (President, Starwood Capital Group) provided macroeconomic insights, reviewed current and future CRE market trends, and spoke about challenges amidst tariff-induced uncertainty. (Hessam Nadji Presentation | Martha Gimble Presentation)
  • Anna Palmer (Founder & CEO of Punchbowl News) offered her perspective on legislative developments and negotiations, and the rise of influential figures within both political parties.

Policy Advisory Committee Meetings

  • Each of RER’s policy advisory committees met this week in conjunction with the Annual Meeting for in-depth policy discussions. The committees hosted several congressional staff and regulatory officials.

Sustainability Policy Advisory Committee (SPAC) Meeting

  • SPAC Chair Anthony E. Malkin (Chairman and CEO, Empire State Realty Trust, Inc.), Co-Vice Chairs Ben Myers (Vice President, Sustainability, BXP) and Katie Rothenberg (Vice President, ESG, AvalonBay Communities, Inc.) led discussions on EPA’s ENERGY STAR program, grid reliability, clean energy procurement, and nuclear energy deployment. (Agenda & Speakers)

Tax Policy Advisory Committee (TPAC)

  • TPAC Chair Josh Parker (Chairman & CEO, Ancora Group Capital), Vice Chair David Friedline (Partner, Deloitte Tax LLP), and the Committee discussed the broad range of tax proposals affecting real estate that are working their way through Congress in the budget reconciliation bill. Panelists included senior staff from the offices of the House Speaker, Ways and Means Committee, Senator Tim Scott (R-SC), and Senator Todd Young (R-IN), as well as the Treasury Department. In addition, tax experts from Baker McKenzie, Sullivan & Cromwell, and Brownstein led or moderated discussions concerning potential new taxes on foreign investors, regulatory initiatives, and Opportunity Zones.  (Agenda & Speakers)

Sustainability Policy Advisory Committee (SPAC)

  • SPAC Chair Anthony E. Malkin (Chairman and CEO, Empire State Realty Trust, Inc.) and Vice Chairs Ben Myers (Vice President, Sustainability, BXP) and Katie Rothenberg (VP, ESG, AvalonBay Communities, Inc.) led discussions on (Agenda & Speakers)

Joint Real Estate Capital Policy Advisory Committee (RECPAC) and Research Committee Meeting

  • D. Michael Van Konynenburg (President, Eastdil Secured) provided an overview of conditions in real estate credit and capital markets.
  • Following a national policy update from RER’S Ryan McCormick (SVP & Counsel, RER) and Chip Rodgers (SVP, RER), Research Committee Chair Spencer Levy (Global Chief Client Officer & Senior Economic Advisor, CBRE) and Darin Mellot (Vice President of Capital Markets Research, CBRE) led a discussion on the evolving post Liberation Day impact of tariffs on commercial real estate markets. 
  • Robert Rubano (Executive Vice Chairman, Head of Equity, Debt, & Structured Finance, Cushman & Wakefield) moderated a capital market roundtable with David Bouton (Co-Head of U.S. CMBS, Citigroup), Jack Gay (Senior Managing Director, Global Head of Real Estate Debt, Nuveen Real Estate), Kathryn Ogden, (Head U.S. Corporate Banking and Global Head, Real Estate Capital Partners (RECP), RBC Capital Markets), and Matt Salem (Partner, Head of RE Credit, KKR). (Agenda & Speakers)

Homeland Security Task Force (HSTF) Meeting

  • HSTF Chair Amanda S. Mason (Executive Director, Global Intelligence, Related Companies) facilitated a number of discussions on the current threat picture.  These discussions included a review of the risks to commercial facilities from lithium-ion batteries with John Frank (AXA XL Risk Consulting). The meeting also included a series of briefs from the FBI regarding the threats from terrorist and transnational criminal organizations that are directly threatening U.S. citizens and commercial facilities. These discussions included updates on the role of the cartels in violent crime, the deaths of American citizens from synthetic opioids, and the facilitation of nearly three million illegal migrant arrivals in 2024, putting U.S. communities at risk. Also addressed were the range of cyber and intelligence threats from China, targeting our critical infrastructure. (Agenda & Speakers)

RER’s 2025 Annual Report will be distributed in July. Next on RER’s FY 2025 meeting calendar is the Fall Meeting, which will take place on October 27-28 (restricted to Roundtable-level members only). 

Public Officials and Industry Leaders Discuss National Policy Challenges Affecting CRE

Posted on by Trey Jackson

The Real Estate Roundtable’s 2024 Annual Meeting this week included discussions with key public officials and industry leaders on issues affecting commercial real estate, including market conditions, the upcoming elections, affordable housing solutions, tax policy, sustainability issues, rebuilding cities, and evolving security threats.

Roundtable Leadership

  • During the meeting, Roundtable Chair Emeritus Robert Taubman (Chairman, President & CEO, Taubman Centers, Inc.) presented outgoing Chair John Fish (Chairman & CEO, SUFFOLK) with a gift from The Roundtable Board of Directors and membership, for his outstanding leadership and successful time as Chair.
  • In his outgoing speech as now-Immediate Past Chair, Fish thanked Jeffrey DeBoer, The Roundtable Board of Directors, membership, and staff for their hard work, and reiterated a key lesson from his time as Chair: “What’s good for America is good for our business.”
  • Kathleen McCarthy (Global Co-Head of Blackstone Real Estate) will begin her three-year term as Roundtable Chair on July 1, 2024.

Meeting Speakers

  • (L-R): Kenneth T. Rosen (Chairman of the Fisher Center for Real Estate and Urban Economics at the Haas School of Business at the University of California, Berkeley; Chairman, Rosen Consulting Group) presented and led a panel discussion on the economy and market conditions with Scott Rechler (Chairman & CEO, RXR), Bryan McDonnell (Managing Director, Chair of Global Debt & Agriculture, PGIM Real Estate), and Andrew P. Power (President & CEO, Digital Realty).
  • The Honorable Elliot Doomes (Commissioner, Public Buildings Service, U.S. General Services Administration) discussed public-private partnership opportunities and sustainable building practices.
  • “We urge the Public Buildings Service to accelerate their process to catalogue and sell to the private sector underutilized federal buildings.  The private sector can convert those buildings to much needed housing, reduce unnecessary emissions, and help revitalize communities still struggling to recover from the pandemic,” said Roundtable President & CEO Jeffrey DeBoer.
  • Dr. Frank Luntz (Founder and President, FIL Inc.)
  • Bruce J. Katz (Director, Nowak Metro Finance Lab, Drexel University, former Inaugural Centennial Scholar and Vice President of the Brookings Institution)

Policy Advisory Committee Meetings

Joint Real Estate Capital Policy Advisory Committee (RECPAC) and Research Committee

  • During a joint meeting, Research Co-Chair Spencer Levy (Global Chief Client Officer & Senior Economic Advisor, CBRE) and Darin Mellot (CBRE) briefed members on current real estate market conditions. RECPAC Co-Chair Michael Lowe (Co-CEO, Lowe) led a discussion about real estate credit and capital markets with: Kathleen S. Briscoe (Dermody Properties); Christina Chiu (Empire State Realty Trust); John Kessler (Mitsui Fudosan America); and Rex Rudy (U.S. Bank).  Roundtable Senior Vice President Chip Rodgers moderated a discussion with Terry Haines (Pangea Policy) and Alex Sternhell (Sternhell Group) on key policy issues affecting the industry.  (Agenda & Speakers)

Tax Policy Advisory Committee (TPAC)

  • TPAC Vice Chair David Friedline (Partner, Deloitte Tax LLP) led panels on tax legislation at the forefront of policy debates in Washington, including the Revitalizing Downtowns Act 2.0, the Foreign Investment in Real Property Tax Act (FIRPTA), partnerships, and pass-throughs. (Agenda & Speakers)

Sustainability Policy Advisory Committee (SPAC)

  • SPAC Chair Anthony E. Malkin (Chairman and CEO, Empire State Realty Trust, Inc.) and Vice Chair Ben Myers (Vice President, Sustainability, BXP) led discussions on the recently announced national definition of a Zero Emissions Building (ZEB), the SEC’s climate risk reporting rule, US-EPA ENERGY STAR, and NextGen. (Agenda & Speakers)

Homeland Security Task Force (HSTF)

  • Co-Chairs Amanda S. Mason (Executive Director, Global Intelligence, Related Companies) and Keith Wallace (VP, Global Safety & Security, Marriott International) led a series of discussions on a number of key areas of concerns for the commercial facilities sector. Dr. Todd C. Helmus (Senior Behavioral Scientist, RAND) discussed issues related to the 2024 U.S. election; Dr. Michael Doran (Senior Fellow and Director, Center for Peace and Security in the Middle East at the Hudson Institute) discussed risks posed by Iran; and FBI special agent Matthew Drummond briefed the Task Force on the current threat picture. (Agenda & Speakers)

Next on The Roundtable’s FY 2025 meeting calendar is the Fall Meeting on October 8-9. The Fall Meeting is restricted to Roundtable-level members only. 

CRE Market Conditions, Tax Proposals, and Energy Policy Focus of Roundtable Annual Meeting

Posted on by Trey Jackson

The Real Estate Roundtable’s 2023 Annual Meeting this week included policy discussions with national lawmakers on issues affecting commercial real estate, including market conditions and pressures on the office sector, tax policy, sustainability issues, and evolving security threats. Additionally, a special industry tax panel focused on incentives for property repurposing, community revitalization, and housing.

Speakers & Policy Issues 

Roundtable Chairman John Fish, left, with Roundtable President and CEO Jeffrey DeBoer

Roundtable Chair John Fish (Chairman and CEO, SUFFOLK), left, and Roundtable President and CEO Jeffrey DeBoer, right, launched the meeting, which included the following speakers:

Sen. Kyrsten Sinema (I-AZ)

Sen. Kyrsten Sinema (I-AZ)
Member, Senate Committee on Banking, Housing and Urban Affairs

Sen. Bill Hagerty (R-TN) and Geordy Johnson, CEO, The Johnson Group

Sen. Bill Hagerty (R-TN), left 
Member, Senate Committee on Banking, Housing and Urban Affairs
and Roundtable Board Member Geordy Johnson (CEO, The Johnson Group)

House Ways and Means Committee Chairman Jason Smith (R-MO)

Jason Smith (R-MO), Chairman
House Ways and Means Committee

House Ways and Means Committee Member Brad Schneider (D-IL)

 Brad Schneider (D-IL), Member
House Ways and Means Committee

Rep. Andrew Gabarino (R-NY)

Rep. Andrew Garbarino (R-NY), Chairman
House Homeland Security Subcommittee on Cybersecurity and Infrastructure Protection
 

David Crane and Tony Malkin

David Crane, left, Department of Energy Under Secretary for Infrastructure, and 
Roundtable Board Member Tony Malkin (Chairman, President and Chief Executive Officer, Empire State Realty Trust, Inc.)

Alejandra Nunez

Alejandra Nunez
Environmental Protection Agency (EPA)
Deputy Assistant Administrator, Office of Air and Radiation

Thomas Barthold

Thomas Barthold
 Chief of Staff, Joint Committee on Tax

Moody's Analytics Chief Economist Mark Zandi

Mark Zandi, Chief Economist, Moody’s Analytics  

Roundtable Policy Advisory Committees 

Real Estate Roundtable 2023 Annual Meeting wide shot

The Roundtable’s policy advisory committees also met on June 13-14 to analyze policy issues
with industry experts, policymakers, and their staff, including:

  • Joint RECPAC-Research Committee Meeting 

RECPAC Research panel Annual 2023

The Roundtable’s joint RECPAC and Research Committee meeting included a real estate capital market panel with CRE leaders. [Left to right in photo: panel moderator Mike Lowe (Co-CEO, Lowe); Sarah Hawkins (CEO, East Region, Hines); Christoph Donner (Chief Executive Officer, America, PIMCO Prime Real Estate LLC); David Mei (Vice President, InterContinental Hotels & Resorts); Gregg Gerken (Head of Commercial Real Estate, TD Bank); and Kathy Farrell (Head of Commercial Real Estate, Truist).

A separate presentation on the economy and CRE conditions was given by CBRE’s Christopher R. Ludeman, Global President, Capital Markets and Spencer Levy, Global Client Strategist & Senior Economic Advisor.

  • Tax Policy Advisory Committee (TPAC) 

TPAC panel with Downey speaking

Speakers at the TPAC meeting included key House tax policy leaders (see photos in previous story section) and a panel on “Debt Workouts / Tax Incentives for Property Repurposing, Community Revitalization, and Housing.” [Left to right in photo above: Adam Feuerstein (Real Estate Tax Technical Leader, PwC); David Downey (President & CEO, International Downtown Association); Victoria Honard (Legislative Director, Rep. Suzan DelBene (D-WA); and Phuc Tran (Vice President, Asset Management, Jair Lynch Real Estate Partners)]

An additional panel on the “Tax Legislative Outlook and Agenda with Senior Republican Tax Staff” featured a discussion with Payson Peabody (Tax Counsel, House Ways and Means Committee Majority Staff) and Michael Gould (IRS Detailee, Senate Finance Committee) that was moderated by Russ Sullivan (Brownstein Hyatt Farber Schreck).

  • Sustainability Policy Advisory Committee (SPAC) 

SPAC meeting at 2023 Annual

SPAC members heard from featured speakers David Crane and Alejandra Nunez (see photos in previous section above), along with updates from EPA senior staff on agency projects affecting CRE assets, and a presentation of an online marketplace for Inflation Reduction Act energy tax credits. (SPAC meeting agenda)

  • Homeland Security Task Force (HSTF) 

Roundtable's Homeland Security Task Force

A joint session of The Roundtable’s HSTF and Risk Management Working Group met with Rep. Andrew Garbarino (R-NY) and were briefed by officials from the Department of Homeland Security on efforts to enhance information sharing with the CRE industry. 

Next on The Roundtable’s FY2023 meeting calendar is the Fall Meeting on October 16-17 in Washington, DC. This meeting is restricted to Roundtable-level members only. 

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Policymakers and Industry Leaders to Discuss Economic Pressures on CRE

Posted on by Trey Jackson

All-member Roundtable Meeting wide shot

Real Estate Roundtable members will meet next week to discuss policy issues, market conditions, and the significant economic pressures facing the office sector. In an interview with CNBC’s Squawk Box, Treasury Secretary Janet Yellen acknowledged the increasing stress on the office market this week, including the potential for further problems with banks with exposure to weakening CRE valuations.

Stress on Office Sector

  • On June 7, Treasury Secretary Yellen said, “Well, I do think that there will be issues with respect to commercial real estate. Certainly, the demand for office space since we’ve seen such a big change in attitudes and behavior toward remote work has changed and especially in an environment of higher interest rates.” She added that banking supervisors continue to closely monitor “a range of banks to make sure that they are adequately prepared to deal with it.” (CNBC’s Squawk Box and MarketWatch, June 7)
  • Roundtable Member David O’Reilly (CEO, Howard Hughes Corporation) was interviewed by CNBC’s Power Lunch on June 7 about the distress facing sectors of CRE, noting how capital markets are constraining borrowers from financing real estate projects.
  • The Roundtable continues to emphasize the need for federal regulators to allow more flexibility for lenders and borrowers to restructure a wave of $1.5 trillion in CRE loans maturing in the next three years. Real Estate Roundtable Chair John Fish (Chairman and CEO, SUFFOLK) summarized the industry’s views in a May 9 MarketWatch article.

Policymakers at Next Week’s Roundtable Meeting

TPAC at SOI

  • These compelling industry issues, among others, will be the focus of The Roundtable’s Annual Meeting on June 13-14 in Washington, DC.

The Roundtable will conclude its 2023 fiscal year this month and will release its annual report to the membership in early July.

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