The 10th annual CEE GRI2015. Prague 1-2 June Prague Marriott Hotel. Connecting Central & Eastern Europe s Senior Real Estate Leaders.

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1 The 10th annual CEE GRI2015 Prague 1-2 June Prague Marriott Hotel Connecting Central & Eastern Europe s Senior Real Estate Leaders p r e v i o u s l y N e w E u r o p e G R I Programme

2 Timetable 1 June Monday 2 june Tuesday 13:30-14:30 Check In 14:30-17:30 Discussions 17:30-18:30 Drinks Reception 19:00-22:00 Networking Dinner (Invitation only) 08:15-09:00 Check In 09:00-10:00 Keynote 10:00-15:15 Discussions 13:00-14:15 Lunch 15:15-16:00 Farewell Drinks Dress Code: Business casual Prague Marriott Hotel V Celnici 8 Prague, Czech Republic HERE ARE A FEW TIPS HOW TO GET THE MOST OUT OF THE GRI. GRI discussions are NOT panels. They are like after-dinner conversations in one s own living room with good friends, under the guidance of a moderating Chair. usually greeted with pregnant silence. Even so, you are encouraged to comment, question, dissent or otherwise interject. As no one will prompt you, please join the discussion room of your choice in good time. Rooms tend to fill up AFTER a discussion starts and you need not be concerned by a near empty room. This will quickly change. Everyone participates equally, not just the Discussion Chair & Co-Chairs. The job of the moderating Chair is to make EVERYBODY talk and engage. Discussion Co-Chairs Some participants speak so softly as to be unheard by most. SPEAK UP and remind others to do so if you can t hear them. sit scattered about the room and participate no more and no less than anyone else in the room. AVOID monopolising conversation, self-promotion or commercial pitches, as the Moderating Chair has been If connecting with new partners is useful, we encourage urged to cut them off. you to ENGAGE as vocally and actively as you might enjoy. This will enable others to get to know you and vice versa. The GRI format was designed to enable senior industry leaders to share, learn and make friends in a natural, The Moderating Chair will address questions DIRECTLY to participants by name or by gesturing towards them, spontaneous and collegial setting. We welcome your suggestions as to how we can do better. not just to anyone in the room at-large, as that is Media Presence While journalists may sometimes take notes during discussions, they only ever do so after signing a Chatham House confidentiality agreement under which they commit not to quote for attribution to a person or to a company, except with specific consent from the respective parties. In addition, students or other reporters summarize most of the discussions and take notes that are subsequently distributed to all participants. 2

3 WELCOME Seniority of a Boardroom. Intimacy of your living room. Dear Member, To GRI newcomers, welcome to an exclusive real estate club of like-minded peers. To old friends, welcome back. As you may already know, GRI events are different. The discussion groups are participatory affairs, not polite conversations. We encourage you to question, interrupt, disagree and generally let the world know what you think. Our aim is simply to remove the barriers that can often stop senior executives networking effectively; that s why we don t have presentations, why we don t sit in straight lines, and why we don t open the event to everyone. All material throughout this program is subject to change without notice. If Co-Chairing a discussion could be useful to you at any forthcoming GRI event in Europe or further afield I invite you to contact me to discuss. In the meantime; connect, smile, and enjoy the CEE GRI. Because life s too short not to. Robert Marten GRI Global Real Estate Institute Henri Alster Chairman GRI Global Real Estate Institute INQUIRIES AND FURTHER INFORMATION info@globalrealestate.org UK Tel: UK Fax:

4 NOT FINAL at time of press Please check handout update Monday 1 June 2015 Schedule FloorPlan MORIVIA III II I Karlstejn KARLSTEJN MORIVIA I MORIVIA III check in 13:30 Coffee Break & NETWORKING 13:30-14:30 Discussions 14:30-15:45 CZECH REPUBLIC - Flash in the pan or more big deals to come? RESIDENTIAL Are the returns worthwhile? INVESTMENT CONDITIONS - Are CEE markets core, core plus or opportunistic? Radim Passer Doron Klein Radim Rimanek Ramon Spoladore Robert Davies Irena Herbst Bartosz Mysiorski Jorge Perez de Leza Dimitar Savov Piotr Gozdziewicz Dirk Adrianssen Stefan Ausch Yann Guen Marilena Vuiu Michael Tippin Zorana Zdrale Burlic Coffee Break & NETWORKING 15:45-16:15 Discussions 16:15-17:30 OFFICES IN CEE - Where are the best opportunities outside of Warsaw? Edgar Rosenmayr Markus Kuttner Marie Passburg Tibor Tatar Pavel Trenka INDUSTRIAL, LOGISTICS & E-COMMERCE - Will proximity to Europe outweigh wage growth to keep investment in CEE? Ian Worboys Michal Kramarz Raimund Paetzmann Petr Panek Remon Vos INTERNATIONAL CAPITAL What s it chasing? Ben Maudling David Brodersen Gabor Futo Patrick Zehetmayr Christopher Zeuner Drinks reception 17:30-18:30 Networking dinner 19:00 (transport at 18:15) The Networking Dinner at the Oblaca Restaurant is for registered dinner guests only. Please bring your invitation that you received at the registration desk to the restaurant. OBLACA Restaurant Tower Park Prague Mahlerovy sady Praha 3 Czech Republic 4 All material throughout this program is subject to change without notice.

5 Schedule Tuesday 2 june 2015 NOT FINAL at time of press Please check handout update Keynote 09:00-10:00 KEYNOTE CEE to outperform Western Europe? Morivia III Peter Brezinschek Raiffeisen Bank International Austria MORIVIA I MORIVIA III check in 08:15 Keynote session 09:00-10:00 Coffee Break & NETWORKING 10:00-10:30 Discussions 10:30-11:30 SOUTHEASTERN EUROPE - A gap between risk perception and reality? David Hayward Yannis Delikanakis David Hay Claudia Pendred Xavier Scheibli Clemens Schranz Lorenz Tragatschnig Ioannis Xanthopoulos DEBT FINANCING - Who are the most competitive lenders? Martin Schlichting Dorota Filant Lenka Kostrounová Ondrej Plocek Coffee Break & NETWORKING 11:30-12:00 Discussions 12:00-13:00 RETAIL - Where are the potential hotspots? Olivier Gerard-Coester Claudia Austen Fabrice Bansay Rafal Paszkiewicz Andrzej Tokaj Árpád Török INVESTMENT VEHICLES & EXIT STRATEGIES - How to get in, when to get out? Ewa Szafranska Madry Marian Herman Alan Vincent Lunch 13:00-14:15 Discussions 14:15-15:15 OFFICES IN POLAND - Oversupply in Warsaw? Opportunity in the regions? OPPORTUNISTIC & DISTRESSED Where do the yield hunters head next? Prague Marriott Hotel V Celnici 8, Prague, Czech Republic Michael Abel Patrick Delcol Henryk Liszka Mateusz Siejka Maciej Zajdel Wilhelm Hammel Michael Tippin Farewell Drinks 15:15-16:00 (MORIVIA II) CEE GRI2015 All material throughout this program is subject to change without notice. 5

6 Discussions 14:30-15:45 1 June 2015 CZECH REPUBLIC Flash in the pan or more big deals to come? Karlstejn REGIONAL FOCUS Radim Passer Chairman Passerinvest Group Czech Republic Radim Rimanek Member of the Board of Directors HB Reavis Group Slovakia Ramon Spoladore Head of Investments and Asset Management CEE Generali Real Estate Czech Republic Doron Klein, AFI Europe Czech Republic & Germany AFI Czech Republic Radim Passer Ramon Spoladore Radim Rimanek Doron Klein RESIDENTIAL Are the returns worthwhile? Morivia I ASSET CLASSES Robert Davies Arendon Development company Czech Republic Irena Herbst Chairman of the Board Fundacja Centrum PPP Poland Bartosz Mysiorski Chief Specialist In PPP Fundacja Centrum PPP Poland Jorge Perez de Leza Europe Grupo Lar Spain Dimitar Savov BLD Asset Management Bulgaria Robert Davies Irena Herbst Jorge Perez de Leza Bartosz Mysiorski Dimitar Savov INVESTMENT CONDITIONS Are CEE markets core, core plus or opportunistic? Morivia III DEBT & EQUITY Piotr Goździewicz Director, Capital Markets CEE BNP Paribas Real Estate Poland Dirk Adrianssen of Central Europe & Switzerland Redveco Switzerland Stefan Ausch Akron Group Austria Yann Guen Investment & Fund Manager Alba Masterco Real Estates Fund Luxembourg Marilena Vuiu Senior Banker, Property & Tourism EBRD UK Michael Tippin President & Tippin Corporation Canada Zorana Zdrale Burlic Business Development Director Delta Real Estate Serbia Piotr Goździewicz Yann Guen Dirk Adrianssen Marilena Vuiu Stefan Ausch Michael Tippin Zorana Zdrale Burlic 6

7 1 June :15-17:30 Discussions OFFICES IN CEE Where are the best opportunities outside of Warsaw? Karlstejn Edgar Rosenmayr MD/Member of the Board, -MRICS KULCZYK SILVERSTEIN PROPERTIES Poland Markus Kuttner Head of Asset Management CEE CA Immobilien Austria Marie Passburg Skanska Property Czech Republic INDUSTRIAL, LOGISTICS & E-COMMERCE Will proximity to Europe outweigh wage growth to keep investment in CEE? Morivia I Ian Worboys P3 Logistic Parks Czech Republic Michal Kramarz Head of Export Development Google Poland Raimund Paetzmann Director, Real Estate EMEA Amazon EU S.a.r.L. Luxembourg INTERNATIONAL CAPITAL What s it chasing? Morivia III Ben Maudling Palmer Capital Czech Republic David Brodersen Chief Operating Officer Coimpex Poland Gabor Futo Founder Futureal Hungary Tibor Tatar - Commercial Development Futureal Hungary Pavel Trenka Group HB Reavis Group Slovakia Petr Panek Partner White & Case Czech Republic Remon Vos CTP Invest Czech Republic Patrick Zehetmayr Head of Division Erste Group Immorent Austria Christopher Zeuner CEE Acquisitions LaSalle Investment Management Czech Republic Edgar Rosenmayr Ian Worboys Ben Maudling Markus Kuttner Tibor Tatar Michal Kramarz Petr Panek David Brodersen Patrick Zehetmayr Marie Passburg Pavel Trenka Raimund Paetzmann Remon Vos Gabor Futo Christopher Zeuner REGIONAL FOCUS ASSET CLASSES DEBT & EQUITY 7

8 Keynote 09:00-10:00 2 June 2015 KEYNOTE - CEE to outperform Western Europe? Keynote Morivia III Peter Brezinschek, Head of Research Raiffeisen Bank International Austria Discussions 10:30-11:30 2 June 2015 SOUTHEASTERN EUROPE A gap between risk perception and reality? Morivia I ASSET CLASSES / REGIONAL FOCUS David Hayward Managing Partner / Head of Asset Management Adval Asset Management Romania Yannis Delikanakis Partner Bluehouse Capital Luxembourg David Hay AFI Europe Romania Romania Claudia Pendred Director, Property and Tourism EBRD UK Xavier Scheibli Director, NPL Advisory LNR PARTNERS EUROPE Germany Clemens Schranz Soravia Serbia Serbia Lorenz Tragatschnig Soravia Real Estate Development Austria Ioannis Xanthopoulos Head of Asset Management Bluehouse Capital Luxembourg David Hayward Yannis Delikanakis David Hay Claudia Pendred Xavier Scheibli Clemens Schranz Lorenz Tragatschnig Ioannis Xanthopoulos DEBT FINANCING Who are the most competitive lenders? Morivia III DEBT & EQUITY Martin Schlichting Head International Real Estate Clients Erste Group Immorent Austria Dorota Filant Director of Representative Office Warsaw WestImmo Poland Lenka Kostrounová Director of Real Estate CSOB Czech Republic Ondrej Plocek Member of the Board Passerinvest Group Czech Republic Martin Schlichting Dorota Filant Lenka Kostrounová Ondrej Plocek 8

9 2 June :00-13:00 Discussions RETAIL Where are the potential hotspots? Morivia I Olivier Gerard-Coester Board Member Mayland Real Estate Poland Claudia Austen Head of Asset Management CEE, Austria, Swizlerland Pramerica Real Estate Investors Germany Fabrice Bansay Apsys Polska Poland Rafal Paszkiewicz President Pashkiewich & Partners Poland Andrzej Tokaj Senior Partner Warsaw Magnusson Poland Árpád Török TriGranit Development Corporation Hungary Olivier Gerard-Coester Claudia Austen Fabrice Bansay Rafal Paszkiewicz Andrzej Tokaj Árpád Török ASSET CLASSES INVESTMENT VEHICLES & EXIT STRATEGIES How to get in, when to get out? Morivia III Ewa Szafranska Madry CEE Balmain Asset Management Poland Marian Herman Group CFO and Member of the Management Board HB Reavis Group Slovakia OFFICES IN POLAND Oversupply in Warsaw? Opportunity in the regions? Morivia I Michael Abel Principal TPG Capital UK Patrick Delcol, Central & Eastern Europe BNP Paribas Real Estate Poland Henryk Liszka Hochtief Polska Poland OPPORTUNISTIC & DISTRESSED Where do the yield hunters head next? Morivia III Wilhelm Hammel Head of NPL Advisory LNR PARTNERS EUROPE Germany Alan Vincent CONVERGENCE Hungary 2 June :15-15:15 Mateusz Siejka Palmer Capital Poland Poland Maciej Zajdel Member of the Board KULCZYK SILVERSTEIN PROPERTIES Poland Michael Tippin President & Tippin Corporation Canada Ewa Szafranska Madry Marian Herman Alan Vincent Discussions Michael Abel Patrick Delcol Henryk Liszka Mateusz Siejka Maciej Zajdel Wilhelm Hammel Michael Tippin DEBT & EQUITY ASSET CLASSES / REGIONAL FOCUS DEBT & EQUITY 9

10 Bronze Sponsors Michał Siwek Partner Tel: Founded in 2004, Magnusson was established in three countries at the same time, in Poland, Denmark and Sweden. The office in Warsaw has been in operation since 2001 and it is a founding office of Magnusson. Traditionally, the firm s main focus has been on the real estate sector. Today, the Warsaw office is one of two largest Magnusson offices with a total of 28 lawyers including 9 partners. More than one third of the team is dedicated to real estate related projects. The real estate practice is recommended by Chambers Europe 2014 and The Legal 500 EMEA Petr Panek Partner Tel: ppanek@whitecase.com White & Case s real estate groups advise domestic and foreign developers, owners, private and institutional investors, lenders and underwriters on significant domestic and cross-border transactions involving the purchase, sale, financing, construction, development, ownership, management and operation of and investment in all types of real estate asset classes, including office, residential, retail, mixed-use, hotels and resorts, data centres, industrial and undeveloped land.

11 Discussion (Co-)Chairs Michael Abel Principal TPG Capital Dirk Adrianssen of Central Europe & Switzerland Redveco Investor TPG is a leading global private investment firm with $67 billion of capital under management. RE Investor Independent, pan-european REIM company specialised in retail property. The combined portfolio comprises 450 properties in major cities across Europe. Mr. Abel is a Principal at TPG Capital and is responsible for acquisitions across Europe. Prior to joining TPG Capital he worked at Europa Capital, where he led real estate investments in Germany and the CEE region. Mr. Abel started his career in the Private Equity Real Estate divisions of J.P.Morgan and Lehman Brothers, covering all aspects of real estate transactions across Europe. Mr. Abel has completed $2 billion of transactions across various asset classes. Mr. Abel holds a Diplome de Grande Ecole and MSc in Management from ESCP Europe, and speaks German, Spanish, English, Portuguese and French. Dirk Adriaenssen has over 20 years of experience in retail real estate which he gained by working with investors, developers and retailers. He joined Redevco in 2004 and was appointed for Switzerland & Central Europe in 2013, where he manages a 650 m EUR portfolio with 10 dedicated real estate professionals based in Zürich. Stefan Ausch Akron Group Claudia Austen Head of Asset Management CEE, Austria, Swizlerland Pramerica Real Estate Investors Investor/ Investment. Portfolio management and development in CEE. Office, logistic & retail buildings, 200 Mio Euro & institutional investors. Global manager Pramerica Real Estate Investors globally manages 48.3 bn. ( ). Stefan Ausch a PhD-graduate of Vienna law school is Managing Director of AKRON Group with almost 25 years of experience in the real estate investment business. Having been responsible for the group s expansion in CEE as well as Russia and Ukraine, Stefan Ausch has built-up and managed a number of major CEE real estate funds including such well-known assets like Warsaw Trade Tower, Europlex Business Center or Bakhrushina Business Center. The vast contact network which Stefan Ausch has built up during his longstanding career is now extended to Akron Group s expansion in Austria and Germany. Claudia Austen has been at Pramerica Real Estate Investors since 2009 where she is currently the Head of Asset Management CEE, Austria and Switzerland. Before joining Pramerica, Claudia worked in wealth management as an asset and product manager responsible for financial and estate planning and all real-estate-based financial investments. Claudia has a degree in banking and finance and started her career as a Foreign Exchange Trader. Fabrice Bansay Apsys Polska Sp. Z O.O. Peter Brezinschek, Head of Research Raiffeisen Bank International AG Investos/, Investor, Leasing Agent, Project Manager, Property & Asset Manager shopping centers Poland & France. Bank Raiffeisen Bank International AG is a corporate and investment bank with a focus on CEE. Apsys Polska is a part of Apsys Group that operates on French and Polish market. Apsys Polska currently manages 18 shopping centers in 13 biggest cities in Poland, and is developing Łacina Shopping Center, a 99,000 sqm of GLA project located in Poznan. Fabrice Bansay has been working for Apsys Group since He gained his professional experience while working as the Commercial Director in Poland and in France, the Member of the Board in France, the Development Director of Apsys Easter Europe and the General Director of Apsys Russia. Currently Fabrice Bansay holds the position of the Chief Executive Officer of Apsys Polska. Peter is a managing director and head of Raiffeisen Research-Division, responsible for capital market analysis in Raiffeisen Bank International AG and their CEE-Central- and Eastern European network banks. He is member of the Austrian Federal Debt Advisory Council, the asset liability committee (ALCO) for Raiffeisen Bank International AG (parent company of all CEE banking units) and of the Economic Advisory Committee/Institute of International Finance (IIF-Washington). Peter Brezinschek has established research in the CEE-region locally and at Raiffeisen Bank International AG Vienna; Head office function for all CEE research activities within Raiffeisen Bank International AG Group 11

12 CEE 2015 David Brodersen Chief Operating Officer Coimpex Robert Davies Arendon Development company Coimpex specializes in planning and developing residential, office, retail and logistics sites throughout Poland. Arendon is a special purpose vehicle created by its London-based investors to lead the development of the 400M Oaks community near Prague. David has over 30 years of experience acquiring, developing, managing and disposing of property companies and portfolios in Europe and the US. He has been working in CEE since 1994 and residing in the region since David is currently the COO for Coimpex responsible for the development of one of the largest remaining land sites in CEE. Previously, he held the position of SVP at Heitman Financial with portfolio management responsibilities for the Heitman European Property Partner funds. Rob Davies is a global specialist in large, complex mixed-use development who has built in 15 countries around the world. Most recently, Rob acquired Battersea Power Station for Dublin s Treasury Holdings and led the team that developed Ireland s 450million National Conference Centre. He is a UK registered Architect and was a Director at Disney Development Company. Rob developed the successful resort communities at Pont Royal in Provence and Victory Heights in Dubai, and has a reputation for working on projects of the highest quality with world-class architects and designers. The new resort community Rob is now leading in Prague involves such designers as Richard Meier and John Pawson and will be an exemplar of its type in Central Europe. Patrick Delcol, Central & Eastern Europe BNP Paribas Real Estate Yannis Delikanakis Partner Bluehouse Capital Advisors Ltd. REAL ESTATE PROVIDER One of the leading international real estate providers, present in 37 countries with more than 180 offices, offering its clients a comprehensive range of services that span the entire real estate lifecycle. Investor Investment Management - Opportunistic - Emerging Europe - 1bn of real estate assets under management. Patrick Delcol has actively worked in the real estate sector for 20 years. In the course of this career he held managing posts in renowned international organizations operating on the real estate market, which included advisory firms, developers and construction companies. Mr Delcol is one of the founders and the President of the Polish Council of Shopping Centres, the Polish partner of the International Council of Shopping Centres (ICSC). Founding Partner. Bluehouse Capital is a private equity investment management firm with a focus in the property markets of Emerging Europe, including Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania and Serbia, operating through its local offices in the region. Prior to this, Mr. Delikanakis served for five years as the General Manager of real estate for the Technical Olympic Group and as Executive Vice President and Executive Vice Chairman of the NYSElisted homebuilder Technical Olympic USA, Inc. Mr. Delikanakis is a graduate of the Advanced Management Development Program in RE from Harvard University and holds a M.Sc. in project management from the University of Texas at Austin. Dorota Filant Director of Representative Office Warsaw Westdeutsche ImmobilienBank AG Gabor Futo Founder Futureal Commercial RE financing WestImmo finances offices, retail outlets and shopping centres, hotels, logistics facilities, public institutions and housing properties. Development Partner Joint venture partner for retail, office and residential developments and investments in Europe. Dorota Filant has been promoted to director of Representative Office Warsaw. She has been employed in the Bank since July 2008 as associate director. She is a 20-year industry expert responsible for introducing and realising investment transactions and financing for international and institutional clients, all types of commercial real estate assets, incl. hotels and residential developments, portfolios, refinancing existing debts, senior or junior debt, syndications. She worked before for Gerald Eve International (currently CBRE), Rabobank Polska SA, mbank Hipoteczny SA Graduated from Warsaw University and finished the RE Valuation Program at Warsaw University of Technology, holds Property Management license. Gabor Futo is the founder of Futureal Group. Under his leadership Futureal has become one of the leading office and retail developers and investors in the CEE region with 1509 professionals and with project pipeline of over 500,000 sqm of commercial space. Cordia, its residential arm, is the number one residential developer in Hungary and is actively expanding in Poland, Germany and the USA. Futureal has several joint ventures with private and institutional investors as well as tenants, banks and municipalities. We are ready to act as pure financial partners with structured participation (incl. mezz), co-developers or lead developers/investors. 12

13 Discussion (Co-)Chairs Olivier Gerard-Coester Board Member Mayland Real Estate Piotr Goździewicz Director, Capital Markets CEE BNP Paribas Real Estate Shopping Centres MAYLAND is a shopping centre developer and manager in Poland. REAL ESTATE PROVIDER One of the leading international real estate providers, present in 37 countries with more than 180 offices, offering its clients a comprehensive range of services that span the entire real estate lifecycle. Olivier has been active in Real Estate for past 25 years. He joined Maurice Bansay in the newly incorporated Apsys in 1998 and served as Polish branch and group COO. Apsys has become a leading developer & manager of shopping centers in Poland (e.g. Manufaktura, Łodz), and in France (e.g. Beaugrenelle, Paris). Since 2012, Olivier has been serving as advisor to Real Estate Companies (sale of Manufaktura, sale back of Beaugrenelle) and board member of Mayland, Casino Group s real estate branch in Poland. He is now responsible of Casino Group large shopping centres projects (notably France, Brazil, Colombia, Poland). Piotr Goździewicz has around 15 years of work experience. Before joining BNP Paribas Real Estate he worked for ING handling commercial real estate investment and financing deals in Central and Eastern Europe. Prior to ING he worked at Citigroup Corporate and Investment Banking division and in parallel received PhD in Economics at Warsaw School of Economics specializing in Strategy, Mergers & Acquisitions, prior to that he had received Master Degree at Warsaw School of Economics specializing in Finance and Banking. Piotr Goździewicz has an extensive experience working for international financial institutions as well as for consulting companies. Wilhelm Hammel Head of NPL Advisory LNR Partners Europe David Hay AFI Europe Romania NPLs LNR is a leading NPL and Debt Advisory Firm with best-in-class loan servicing capabilities. & Manager AFI Europe is an experienced developer and manager of large scale shopping malls, office parks, residential & mixed use projects across the CEE & SEE. Wilhelm Hammel serves as MD and is Head of the NPL Advisory business based in Frankfurt. He has more than 15 years of RE finance and management experience and is responsible for leading all of LNR s German business activities. Prior to joining LNR in 2012, Mr. Hammel was a Senior Director at Elystan Capital in Munich. From 2006 to 2009, Mr. Hammel served as a Director and Principal at Lehman Brothers RE Private Equity Fund (LBREP) in London, where he closed more than 1 billion in debt and equity transactions. Prior to his time at LBREP, Mr. Hammel worked in loan origination and underwriting at Eurohypo s London office, where he was involved in the origination, underwriting, and closing of more than 2 billion of CRE loans. David has over 20 years of experience in international real estate development in Europe, the US and Africa. David joined AFI Europe in March 2006 as business development manager. In January 2009 David was appointed as of AFI Europe Czech Republic, Germany and Poland. In January 2011 David was appointed as of AFI Europe Romania, Latvia and Hungary David graduated from Buckingham University in the UK with an LLM. David Hayward Managing Partner / Head Of Asset Management Adval Asset Management Irena Herbst Chairman of the Board Fundacja Centrum PPP Investor Portfolio & asset management of Bucharest office and residential properties, development and repositioning of existing assets. Non-profit NGO Centrum PPP is a non-profit NGO with a main aim to promote the idea of public-private partnership in Poland. David Hayward is the founder of the Adval Group, a proprietary investor and real estate manager. The Adval team has been together for more than 7 years and consists of experienced professionals with expertise in Portfolio and Asset Management, Acquisitions and Disposals, Property Management, Corporate Restructuring, Financing, Legal and Accountancy. Before moving to Bucharest in 2007, David was the Head of European Real Estate Controllers at Morgan Stanley London overseeing MSREF and MSRESS real estate and NPL investments in Germany, France, Spain and the UK. David is also a UK Chartered Accountant, having qualified with PricewaterhouseCoopers. Dr Herbst is an economist specializing in financing, investment and construction economics. Her fields of interests include public finance, housing and real estate management and social economy. Irena has held many senior positions, including VP of the Executive Board of Bank Gospodarstwa Krajowego (BGK), VP of the member Executive Board of Batory, advisor to the in the Executive Board of Polish Confederation of Private Employers PKPP, and advisor to the Bank for Social and Economic Initiatives. For many years she was professionally involved in the public sector, most recently occupying the position of Undersecretary of State in the Ministry of Economy. She has authored dozens of publications and numerous legal acts. 13

14 CEE 2015 Marian Herman Group CFO and Member of the Management Board HB Reavis Group Filip Hradec Head of Real Estate Finance Erste Group Immorent & Investor Commercial Real Estate Development and Investment Management. Financial Institution Erste Group Immorent is part of Erste Group and the specialist for Real Estate and Infrastructure financing in CEE and SEE. Marian Herman, Group CFO and Member of the Management Board of HB Reavis Group, is responsible for all of the company s finance-related activities. Marian joined HB Reavis in 2010 as Head of Investment Management & Divestments where he was responsible for the Group s divestment activities across all markets, having successfully concluded over 1bn of commercial real estate deals. He also ran the Group s investment management business set-up in 2010 which raised its first 165m CEE fund in 2011 where he acted as of the fund management entity, HB Reavis Investment Management Luxembourg. Marian has over 18 years of experience in investment management and investment banking. Filip Hradec has been working at the Erste Bank group since Originally, he was involved in the company s corporate banking division at Erste Bank Sparkassen CR, and he continued at Česka spořitelna s SME section after its acquisition by Erste Bank Group. Since 2007, he was responsible for leading its Special Finance Unit, where he focused on renewable energy, M&A, innovation and agricultural energy projects. In September, 2011, he was named the director of České spořitelna s Real Estate division and in the groupwide project Erste Group Immorent, he is responsible for real estate financing in the Czech Republic. Doron Klein, AFI Europe Czech Republic & Germany AFI Europe Lenka Kostrounová Director of Real Estate Ceskoslovenska obchodni banka RE & Manager Manager Shopping Malls Residential projects Logistics Office Buildings. Lender Real estate financing. Mr. Doron Klein is in charge of AFI Europe in the Czech republic, development company focusing on office, logistics, retail and residential projects portfolio. Apart from the Czech office, Mr. Klein is also responsible for company activities in Germany. Doron Klein was born in Israel, where he obtained bachelor s degree in finance from Haifa University and graduated from University of New York in Prague, Czech Republic, where he obtained MBA degree. He has been working in the real estate sector since 2005 and has been at AFI Europe since He speaks Hebrew, Czech and English. Lenka Kostrounova is active in area of real estate financing more than 15 years. Together with her professional team within ČSOB, she is responsible for real estate financing in the Czech Republic. The main task of the division is to offer and finalize the financial service tailoredmade for real estate development and investment clients and others for whom is the ownership, facility management or real estate leasing crucial in their business. During the career, Lenka Kostrounova has successfully structured the financing of dozens real estate projects in volume of several billion EUR. Gunther Kotz Director, Special Servicing LNR PARTNERS EUROPE Michal Kramarz Head of Export Development Google Poland NPLs LNR is a leading NPL and Debt Advisory Firm with best-in-class loan servicing capabilities. Technology company Online industry, connecting online & offline world. Gunther Kotz serves as a Director of Special Servicing and is based in Frankfurt. In this role, he leverages 12 years of expertise in real estate finance to manage the team executing all of the special servicing activities in Germany. During his tenure at LNR, Mr. Kotz has executed on loans with a face value of more than 2 billion and is currently managing the workout of 4 billion of assets. Prior to joining LNR, Mr. Kotz spent five years working as a lawyer on the real estate finance teams of Nordhues & Cie and Nörr in Frankfurt where he advised leading banks on loan origination and workouts in Germany in excess of 1.5 billion. Mr. Kotz began his career as an investment banking analyst at Dresdner Kleinwort Wasserstein s London office. In the Internet industry for over 11 years. In Google Poland since the beginning of its presence in Poland, that is from For several years managed a team of consultants supporting key clients in retail, e-commerce, finance & travel industries. Currently working on retail export development for Polish businesses. Graduate of the International Faculty ofengineering from Technical University of Lodz and Executive MBA from Towson University/University of Maryland. 14

15 Discussion (Co-)Chairs Markus Kuttner Head of Asset Management CEE CA Immo Henryk Liszka Hochtief Polska Office specialist Focus on office properties in Austria, Germany & CEE, property assets 3.6 bn, project development, 8 subsidaries. General contractor HOCHTIEF Polska has specialized in the execution of general building, civil infrastructure projects and projects in the energy segment. The asset management expert started his career at the Bank Austria Creditanstalt Real Invest GmbH, where he was amongst others responsible for Asset Management Germany, CEE and SEE. In 2007, he moved to Raiffeisen Capital Management as Investment Manager for the open ended real estate fund products of RCM. His field of responsibility included property investments in Germany as well as asset management of the logistic portfolio of RCM. Since 2009, Markus Kuttner is responsible for the CA Immo Group s Asset Management in CEE, SEE and CIS. Markus Kuttner has an MBA and MRICS studies. ): Henryk Liszka is a British citizen of Polish origins. He has extensive experience in the construction industry, gained generally in Poland and other CE-countries. He has been of HOCHTIEF Polska since January He is a chartered Engineer and a Fellow of the Institution of Civil Engineers (FICE). From 1977, he worked for British Airports Authority. In 1987, he took over position as project manager at UK-based Wimpey Construction Management. In 1990, he moved to Bovis International, and from 1995 he was in charge of operational and business development activities. In 1998, he was appointed Regional for Eastern Europe. Ben Maudling Palmer Capital Czech Republic s.r.o. Bartosz Mysiorski Chief Specialist in PPP Fundacja Centrum PPP Investor Real Estate Fund Manager western Europe, CEE, Asia AUM EUR 1 Billion. Non-profit NGO PPP, public-private partnership, concession. Ben Maudling, 50, is a and Board Member of Palmer Capital Investments GmbH. He has specific responsibility for the investment and asset management activities of the company in CEE. Currently, Palmer Capital s CEE portfolio comprises over 80 commercial properties (primarily in Czech and Slovak Republics) with a value of EUR 300 million. Ben is a Fellow of the Royal Institution of Chartered Surveyors and has been resident in Prague since In 2000 he sold to CBRE a company which he had established in Prague and then went on to head up the central European investment activities of INVESCO Real Estate before joining Palmer Capital in Bartosz has been working in the Centrum PPP from the very beginning, since it was set up in July Author/co-author of plenty analysis and publications in the area of public-private partnership. Bartosz has carried out plenty PPP trainings and workshops in Poland and abroad (e.g. Azerbaijan, Moldova, Kazakhstan, Ukraine). Moreover, Bartosz has been lecturing at the National School of Public Administration in Poland. Since 2013, the and the Vice Chairman of the Board in the Centrum PPP. Since 2014, Council Member in Poland in the International Project Finance Association (IPFA). Raimund Paetzmann Director, Real Estate EMEA Amazon EU S.a.r.L. Petr Panek Partner White & Case Retailer Amazon.com, Inc. is an American electronic commerce company with headquarters in Seattle. It is the largest Internet-based retailer in the US. Law firm White & Case is a truly global law firm, uniquely positioned to help our clients achieve their ambitions in today s G20 world. Raimund heads the EMEA Real Estate team and leads all expansion projects within Amazon s Fulfillment, Transportation and Customer Service Network. Responsible for driving a Pan European approach, he ensures the Development is aligned and integrated with the Amazon.com global Initiatives. Raimund is involved in the strategic network planning and he and his teams coordinates the search for all new EMEA location (Fulfillment Centers (FCs), transportation hubs and Customer Service Centers) and oversees all necessary negotiations with developers and governmental bodies. Petr is a partner in the Prague office of White & Case and is the head of the CEE Real Estate Group. He concentrates advising international and large domestic investors on real estate transactions, M&A, financial restructurings, fund formation, dispute resolution and regulatory matters regarding collective investments (including investment funds). 15

16 CEE 2015 Marie Passburg Skanska Property Czech Republic, s.r.o. Radim Passer Chairman Passerinvest Group Office Skanska plans and develops long-term sustainable commercial property projects in attractive locations. Residential, office and commercial real estate development in Prague (Czech Republic). Marie Passburg is the of Skanska Property Czech Republic, sustainable office buildings developer, that is part of Skanska Commercial Development Europe. She is responsible for managing the Czech organization, project management, leasing, land acquisition and divestment. She joined Skanska in 2001 and has performed in various roles within company in the Nordic countries, Central Europe and the UK. Marie is also vice president at the Nordic Chamber of Commerce in the Czech Republic. Radim Passer was born in 1963 in the Czech Republic. In 1991, he went into business and set up PASSERINVEST GROUP. As an investor and developer, the company is associated with BB Centrum, one of the largest and most successful business parks in the Czech Republic. Radim Passer is grateful to God for his success in business, having embraced Him after his first-born son died in This decision - in his opinion, the best in his life - has dramatically changed his personal life as well as his entire perspective on life s priorities. He supports a number of missionary and charity projects, and is the founder of the Maranatha Civic Association. Rafal Paszkiewicz President Paszkiewicz & Partners Claudia Pendred Director, Property and Tourism European Bank for Reconstruction and Development Development Retail, office and residential development. Redevelopment of existing retail assets. Lender The EBRD supports private property projects in central Europe, central Asia, southern/ eastern Mediterranean and North Africa. Rafał Paszkiewicz. Manager educated in USA and also Architect educated in Poland who has been working in development market for 20 years. In the last 10 years he has focused on managing large scale 100M+ projects for Atrium (AERE), TriGranit and Immofinanz AG as the board member or manager responsible for strategic planning and execution including business planning, team building, design, budget, pre-leasing, financing, construction, marketing leasing and sales. Initially employed to direct project development for ING RE & Terra Casa, Multikino and McDonald s. Managed budgets of 500M. Delivered over 35 projects of 0,5M sqm of GBA. Claudia Pendred is the EBRD s Director for Property & Tourism. Mrs. Pendred has over 20 years of experience in banking throughout Central and Eastern Europe, South Eastern Europe and Russia. Previously she was the EBRD s Director for Romania and before joining the EBRD, she worked at N.M. Rothschild & Sons, where most recently she was Director of Corporate Finance, focused on Central and Eastern Europe. Earlier on, Mrs. Pendred worked at J. Henry Schroder Wagg & Co and before that she worked with UNICEF and the World Bank. Mrs. Pendred holds an MBA degree from INSEAD Business School, an MA from Harvard University and a BA from the University of Oxford. Jorge Perez de Leza Europe Grupo Lar Ondrej Plocek Member of the Board Passerinvest Group Investor /, Investor, Asset manager, Fund Manager, Residential, Shopping centers, Offices, Property Management. Investor; developer; Office, Residential. Jorge P. de Leza is Europe of Spanish real estate developer and asset manager Grupo Lar. Mr. de Leza is responsible for all Grupo Lar s development and investment activities in Europe, currently with investments in Spain, Poland and Romania, with a gross asset value of 0,8 bill.. Mr. de Leza holds and MS degree in Industrial Engineering and an MBA from the Harvard Business School. Ondřej Plocek Member of the Board, PASSERINVEST GROUP, a.s. Graduated of the University of Economics, Prague, major in finance. After professional experiences with various Prague based companies joined the PASSERINVEST GROUP team in 2002, Member of the Board of Directors since Within PASSERINVEST GROUP, a.s. Ondřej is responsible for project finance, project structuring, debt capital markets and investment sales. 16

17 Discussion (Co-)Chairs Radim Rimanek Member of the Board of Directors HB Reavis Group Edgar Rosenmayr /Member of the Board, -MRICS KULCZYK SILVERSTEIN PROPERTIES Sp. z o.o. CEE, Great Britain and Turkey, office and real estate, assets worth EUR 1.4 billion, EUR 860 million in equity. & investor Real estate investment, development and management firm - office and mixed-use properties - Poland EUR million. Radim Římánek joined HB Reavis in May He is a Board Director of HB Reavis Group with responsibility for the business international office leasing as well as overall real estate development activities in the Czech Republic, Hungary and the United Kingdom. Prior to joining HB Reavis, Radim worked for McKinsey & Company in New York, Prague and the wider CEE region as an Associate Principal. Previously, he held the role of Manager of Corporate Strategy and Business Development at NYSE-listed Dun & Bradstreet. Radim is a Czech national and a graduate of Harvard University. Edgar joined Kulczyk Silverstein Properties in September Previously, Board Member of Immoeast AG and EBRD Director. He held Investment Committee positions in numerous Investment and Advisory Committees of real estate and private equity funds e.g. Europolis Invest and Polonia Property Fund as well as Board seats with renown real estate companies including TriGranit, IRIDE, European Property Group or St. Petersburg Property Development Company. Edgar holds a PhD in Mathematics and a Doctor s Degree in Technical Sciences, from the Technical University in Vienna. He is licensed as Chartered Management Consultant and holds a degree of Academic Management Consultant. He is also a member of the Royal Institute of Chartered Surveyors, MRICS. Dimitar Savov BLD Asset Management Xavier Scheibli Director, NPL Advisory LNR PARTNERS EUROPE / Investor BLD Asset Management actively manages more than 100 million in real estate assets in South East Europe (SEE). NPLs LNR is a leading NPL and Debt Advisory Firm with best-in-class loan servicing capabilities. Dimitar Savov has started his career in AG Capital in He has progressed from an Associate - Financial Analysis and Control to CFO, and later to an Executive Director of Address Group. In 2005 Dimitar Savov became a founder and Chairman of the Board of Directors of Forton International and Address Invest. He has gained first hand experience as of Bulgarian Land Development, responsible for the portfolio of the company, until its delisting in August Currently Mr. Dimitar Savov is a of BLD Asset Management, and a Member of the Board of Directors of AG Capital. Xavier Scheibli serves as Director in the NPL advisory business. He has more than 14 years of experience on both the equity and debt sides of the RE business. In his current role, he is responsible for NPL underwriting activities in continental Europe. Mr. Schebli supervises the underwriting, due diligence, and pricing efforts for clients and structures co-investment opportunities for LNR. Prior to joining LNR in 2013, Mr. Scheibli was a VP at Hudson Advisors and had previous posts in the RE division of UBS Wealth Management where he was involved in fund structuring, acquisitions, and distribution to high net worth individuals and institutional investors. Mr. Scheibli and his team closed on more than 12 billion in transaction volume in Europe. Martin Schlichting Head International Real Estate Clients Erste Group Immorent AG Clemens Schranz Soravia Real Estate Development GmbH Financial Institution Erste Group Immorent is part of Erste Group and the specialist for Real Estate and Infrastructure financing in CEE and SEE. Property developments and project financing structures in the Balkans. Martin is International Real Estate clients director at Erste Group Immorent. He is active in the CEE/SEE real estate markets for 16 years. Clemens is SEE within Soravia Group, focusing on property developments and project financing structures on the Balkans. He is experienced in various asset classes. In recent years he has gained specialist in-depth knowledge in the execution of capital intensive hotel and tourism projects and transactions. His hands-on experience was acquired during assignments with Raiffeisen evolution, a property development arm of Raffeisen bank, as Project Director in Czech Republic, Slovakia, Romania, Bulgaria and Russia. In December 2014 Clemens took into operation the 236 key Radisson Blu Old Mill Hotel Belgrade and an A-class office tower as part of a mixed-use development jointly carried by ERSTE Group Bank, EBRD and Soravia. 17

18 CEE 2015 Mateusz Siejka Palmer Capital Poland Ramon Spoladore Head of Investments and Asset Management CEE Generali Real Estate Czech Republic Fund management Fund and asset management within commercial real estate sector, CEE region. Asset Manager A leading global RE asset manager providing asset, property and project management services through Equity and Debt investments. Mateusz Siejka, Palmer Capital Poland, absolwent Wydziału Prawa na Uniwersytecie Warszawskim, kilku kierunków studiów podyplomowych zarówno w Szkole Głównej Handlowej, jak i na brytyjskich uczelniach Sheffield Hallam/Nottingham Trent University. Jest członkiem Royal Institution of Chartered Surveyors. Posiada ponad dziesięcioletnie doświadczenie w branży nieruchomości. Swoje doświadczenie zdobywał również w takich firmach jak: Bywater Properties, TriGranit Development Polska, Budimex S.A. i Budimex Nieruchomości. Summary Head Investments and Asset Management at Generali Real Estate for CEE Countries Board Member at CP Invest Real Estate Fund (Generali PPF Holding) Investments, Divestments, Acquisitions, Advisory and Fund / Asset Management Specialties: Real Estate in CEE Countries Experience Investments and acquisitions performed in the last 5 years: EUR 400 m Skills & Expertise Investments Real Estate Transactions Commercial Real Estate Corporate Real Estate Property Negotiations Mergers & Acquisitions Asset Management Financial Analysis Asset Management Finance Restructuring Business Planning Valuation Education SDA Bocconi Milano Universita degli Studi di Trieste (Facolta di Economia) Ewa Szafranska Madry CEE Balmain Asset Management Tibor Tatar - Commercial Development Futureal Asset management Balmain is an experienced operating partner, co-investor and multi-disciplined service provider focussed on European retail and leisure assets. Development Partner Joint venture partner for retail, office and residential developments and investments in Europe. Ewa joined Balmain Asset Management in September 2014 as for the company s CEE region. Ewa has over sixteen years of experience in CEE covering property acquisition, finance, asset & fund management, and development & project management. She had worked with such companies as Azora International Management, Apsys Polska, TK Development and Carrefour. Tibor Tatár joined Futureal in 2004 when the group started to focus on strengthening its real estate development activities. He became of Futureal Development Co. in 2005 and he has been responsible for the development activities of commercial and city regeneration projects in Hungary, Romania and Poland ever since. Together with the owners and other board members, Tibor Tatár has a major role in Futureal becoming one of the top 22 developers in Europe. Michael Tippin President & Tippin Corporation Andrzej Tokaj Senior Partner Warsaw Magnusson Investor & developer Tippin Corporation is a Canadian property company, specializing in the profitable preservation of architectural landmarks. Law Firm Magnusson is a full-service independent law firm. Michael founded Tippin Corporation in 1996 as a family owned property company. The firm has completed high profile real estate projects in five countries on two continents. Since 2006 the company has focused on Central & Eastern Europe. Michael has invested over C$1 billion in real estate during his 20 year career. His co-investors include financial institutions, philanthropic and endowment funds. Andrzej Tokaj is a Polish attorney-at-law and a founding partner of the law firm Magnusson. During the past 25 years, he has amassed a wealth of experience within the area of real estate and successfully led Magnusson s team on numerous high-profile real estate transactions. His expertise includes advice on asset management, construction, and planning. He has significant experience with regard to real estate and construction related dispute resolution. Andrzej is ranked by Chambers Europe 2015 for Real Estate in Poland and by Chambers Global 2015 for Corporate and M&A in Poland. 18