Events

	UCLA Anderson Forecast in conjunction with the UCLA Ziman Center for Real Estate presents the
	JUNE 2009 ECONOMIC OUTLOOK
	Financing Commercial Real Estate in the New Economy
	Ackerman Grand Ballroom Tuesday, June 16, 2009 7:00am - 12:30pm

	Cost of the Event
	Registration Fee: $350 (Update: Forecast book is now available for purchase online)
	VIP Table of 6: $1200 (Includes corporate placard)

	Overview
	Please Join the UCLA Anderson Forecast as we update our economic Forecast for the second half of 2009 with special attention to the effects of the federal stimulus package and the challenges caused by California’s budget crisis. Our special topic will focus on the next big banking challenge: fallout from commercial real estate.
	Agenda
	7:00-8:00am
	Registration and Continental Breakfast
	8:00-12:00pm
	Welcome and Introductions
	Edward Leamer, Director, UCLA Anderson Forecast
	John Tipton, Partner, Allen Matkins Leck Gamble Mallory & Natsis LLP
	I. National, State, Regional Forecasts
	When will the recession end? How high will unemployment go? When the economy rebounds, how strong will the recovery be? When will the California housing market find a bottom? With California experiencing a deeper downturn than the U.S. economy, will budget problems in Sacramento keep it from participating in the rebound?
	Edward Leamer, Director, UCLA Anderson Forecast
	David Shulman, Senior Economist, UCLA Anderson Forecast
	Jerry Nickelsburg, Senior Economist, UCLA Anderson Forecast
	II. Allen Matkins/UCLA Anderson Forecast Mid-Year Commercial Real Estate Survey Results
	Jerry Nickelsburg, Senior Economist, UCLA Anderson Forecast
	Special Topic: Commercial Real Estate
	Commercial real estate has been hit by both demand and supply shocks. As the economic climate deteriorates demand has caused projects to be delayed or cancelled. Those on the supply side still interested in development have been plagued by thinning finance opportunities. At the same time, Commercial real estate prices have declined by about 30% since the mid-2007 peak and the Commercial mortgage Backed Securities (CMBS) market has all but disappeared with new issuance dropping from $250 billion to zero.
	III. Keynote - Commercial Real Estate: Distress and Opportunity
	Mike Kirby, Chairman and Director of Research, Green Street Advisors
	IV. Executive Discussion Panel
	How much further will prices fall? Where will cap rates be in 2010? What is the appropriate leverage for commercial real estate? Will Fannie and Freddie continue to support the apartment market?
	David Rifkind, Principal & Managing Director, George Smith Partners
	Kevin Shannon, Vice Chairman, CBRE
	Kevin Ehrhart, Partner, Allen Matkins Leck Gamble Mallory & Natsis LLP
	Michael W. Croft, CEO, Co-Managing Principal, Commonwealth Partners
	Platinum Sponsor:
	Silver Sponsor:
	For information on Sponsorship Opportunities [Click Here]

	For more information regarding this event please contact: Sherif Hanna Managing Director UCLA Anderson Forecast 323-932-0411 sherif.hanna@anderson.ucla.edu
	For media information regarding this event please contact: Hilary Rehder Media Relations UCLA Anderson School of Management 818-689-5551 hilary.rehder@anderson.ucla.edu
	Check back again for program updates.
	Last updated: May 27, 2009