Webinar: What Will 2019 Late Cycle Investing Look Like? What to Expect for CRE and the Economy

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January 22
1:00 pm - 2:00 pm
Live Online
Online DC United States
Capital Markets and Real Estate


Netforum Event ID. You can find it here: http://netforum.uli.org/eweb//DynamicPage.aspx?site=ULIMC&webcode=ULIEventsSearch&ord=evt_start_date
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This webinar is available to ULI members only. Become a ULI member here. 


Hear the latest economic and market insights and forecasts for 2019 from two real estate experts, Ken Rosen and Roy March. Ken and Roy were the keynote speakers at the 25th ULI/McCoy Symposium in NYC, held in December 2018. We’ll cover the following:

  • Where are we at the start of 2019, and what’s ahead for individual markets and sectors?
  • Has the view of ‘rates are going up’ peaked? Has the view that ‘we are late in the cycle’ become group think?
  • What is the impact on real estate prospects of market volatility and a divided government?
  • Where do the experts agree and disagree?

Questions from listeners are encouraged and will be addressed during the webinar with time permitting.



Ed Walter (moderator), Global CEO, Urban Land Institute

Edward (Ed) Walter, a widely renowned real estate industry leader and most recently the Steers Chair in Real Estate at Georgetown University’s McDonough School of Business, is the Global Chief Executive Officer of ULI. As such, he leads the implementation of ULI’s Global Strategic Plan, which strives to strengthen member engagement and expand member impact in each of the three regions in which ULI has a presence – the Americas, Europe and Asia Pacific.

Walter brings to ULI more than 35 years of management experience in the real estate profession across a variety of disciplines including hotels, multifamily, and land development, with a strong emphasis on capital markets and investments. From 2007 through 2016, he served as Chief Executive Officer, President and Director of Host Hotels and Resorts, Inc., where he led a $19 billion-plus global lodging real estate investment trust (REIT) with a high-performing portfolio of more than 110 hotels around the world. Walter’s service at Host overlapped with his four-year tenure at Georgetown, where he created and taught the Real Estate Public Equity course, which is designed to explore multiple aspects of REITs.

Walter’s industry volunteer leadership experience is equally expansive, including roles at the Real Estate Roundtable (he currently co-chairs RER’s Research Committee); National Association of Real Estate Investment Trusts (he chaired NAREIT from 2012-2013); and the American Hotel and Lodging Association. He is an active member and current chairman of the Federal City Council, and a Board member at Avalon Bay Communities and Ameriprise Financial.


Roy March, Chief Executive Officer, Eastdil Secured
ULI Member Since: 1982

Roy March is the chief executive officer of Eastdil Secured, L.L.C., the leading real estate investment banking company in the United States.

He has more than 40 years of real estate experience at Eastdil Secured across financing, sales, acquisition, and capital markets activities in the United States, Europe, and East Asia.

Founded in 1967, Eastdil was the first real estate investment banking firm in the United States.  Eastdil Secured is a wholly owned subsidiary of Wells Fargo Bank, one of the largest financial service companies in the world and the largest commercial real estate lender in the U.S.  In 2009, as a result of the Wells Wachovia merger, the real estate investment banking division of Wachovia was moved to Eastdil Secured forming the first comprehensive end to end real estate banking investment platform in the industry.  The New York based firm was involved in over $1.9 trillion in transactions from 2007.

Roy serves on various industry, corporate and community boards, is a Trustee of the Urban Land Institute, is past Chairman of the Advisory Board of the Samuel Zell and Robert Lurie Real Estate Center at The Wharton School at The University of Pennsylvania, the Board of Directors of Real Estate Roundtable and was on the Board of Directors for Pension Real Estate Association (PREA).  He is also a member of NAREIT – the National Association of Real Estate Investment Trusts, and the International Council of Shopping Centers.  He was past president of the Friends of Malibu Urgent Care, serves on the board of The Painted Turtle, a summer camp for children with chronic or life-threatening illnesses.  He is on the Executive Campaign Committee for Union Rescue Mission in Los Angeles, an organization to end homelessness and serves the homeless population in Los Angeles, and is co-founder of March to the Top-Africa.


Ken Rosen, Chairman, Rosen Consulting Group
Chairman, Fisher Center for Real Estate and Urban Economics, UC Berkeley
ULI Member Since: 1983

Ken Rosen is Chairman of Rosen Consulting Group, a real estate market research firm, Chairman of the Fisher Center for Real Estate and Urban Economics and Professor Emeritus at the Haas School of Business at the University of California, Berkeley. Mr. Rosen has been a trustee of the Urban Land Institute and is a member of the board of directors of several non-profit and for-profit entities that deal with real estate finance and development. He has authored over 100 articles and four books on real estate and real estate finance.

He was formerly the Chairman and founder of Rosen Real Estate Securities LLC (RRES), and Chairman, founder and portfolio manager of Lend Lease Rosen Securities, both REIT money management firms. Also, Ken served as the special real estate advisor to The Davos World Economic Forum, and from 1985-1990 he was Consultant/Managing Director of Salomon Brothers’ Real Estate Research Department.

Mr. Rosen received his Ph.D. in Economics from the Massachusetts Institute of Technology, and a B.A. with highest honors from the University of Connecticut in 1970. He was a Professor of Economics at Princeton University.