Keynotes and Featured Speakers

Victor MacFarlane
Managing Principal,
MacFarlane Partners

Victor B. MacFarlane is managing principal of MacFarlane Partners, which he founded in 1987 to provide real estate investment management services to institutional inverstors. Under his leadership, MacFarlane Partners has become one of the leading real estate investment management firms in the United States.

Victor has 27 years of real estate experience, and has worked extensively in property development, acquisitions, asset management and portfolio management on behalf of some of the largest pension plans and institution in the U.S. In 1996, he sold the investment management business of MacFarlane Partners to GE Capital and then served for three years as CEO of GE Capital Investment Advisors ("GECIA"). During that, period, he also spearheaded several global strategic initiatives for GE Capital Real Estate, an affiliate of GECIA that managed $20 billion in real estate equity and debt assets worldwide. He oversaw or participated in GE Capital Real Estate's expansion plans in China, Thailand, Vietnam, Singapore, Mexico and Eastern Europe.

At the end of his contractual commitment in April 1999, he resigned from GE Capital and restarted MacFarlane Partners as an entrepreneurial firm focusing on urban properties and other high-yielding real estate investments.

Victor began his real estate career with Aetna Life & Casualty Company, where he was involved in the acquisition and asset management of more than $1 billion in real estate assets. In addition, he has developed and managed award-winning residential and mixed-use properties in California and Colorado.

Victor is recipient of the 2006 National Inner City Leadership Award from the Initiative for a Competitive Inner City (ICIC) and the Trailblazer Achievement Award from the Global Diversity Summit. He sits on the boards of directors of the Real Estate Executive Council (REEC), ICIC, Stanford Hospital & Clinics and The Dignity Fund. He also serves on the policy advisory board of the Fisher Center for Real Estate at the University of California, Berkeley; and is an outside director of Developers Diversified Realty Corporation. He is a member and former trustee of the Urban Land Institue (ULI); a member and former director of the Pension Real Estate Association (PREA); and a member of the International Council of Shopping Centers (ICSC), the Chief Executives Organization and the World Presidents Organization (WPO).

Victor holds a master's degree in business administration from the University of Pittsburgh; a juris doctor degree from the University of California, Los Angeles; and a bachelor's degree in university studies from the University of New Mexico.

Ron Terwilliger
Chairman and CEO,
Trammell Crow Residential

Mr. Terwilliger became Chairman and Chief Executive Officer of Trammell Crow Residential in 1986. Trammell Crow Residential is a national residential real estate company and is the largest developer of multi-family housing in the United States. Mr. Terwilliger is responsible for all residential development and operations conducted by Trammell Crow Residential in 22 offices throughout the United States.

Mr. Terwilliger is an honor graduate of the United States Naval Academy. After serving five years in the Navy, he received his MBA degree with High Distinction from the Harvard Graduate School of Business where he was elected a Baker Scholar. He is past-chairman of the Urban Land Institute where he continues to serve on the Governance Committee. He additionally is Chairman Emeritus of the Wharton Real Estate Center, is past Chairman of the Atlanta Neighborhood Development Partnership and is Vice Chairman of the International Board of Directors of Habitat for Humanity.

He also currently serves as a Director of the Naval Academy Foundation, Subcommittee Chairman of the Naval Academy Athletic Committee and is immediate past Chairman of the National Association of Homebuilders Multifamily Leadership Board. He serves as a member of the Enterprise Foundation Real Estate Advisory Board and has been invited to serve on the Enterprise Board of Trustees in 2007.

Nori Gerardo Lietz
Co-founder and Managing Director,
Pension Consulting Alliance

Ms. Gerardo Lietz co-founded PCA with Mr. Allan Emkin in 1988. As managing director and principal, Ms. Gerardo Lietz's primary focus is real estate and private markets. Ms. Gerardo Lietz has primary responsibility for Oregon Public Employees' Retirement Fund, CalPERS, CalSTRS, among others. She has extensive experience in structuring and analyzing real estate transactions, developing investment products, analyzing manager fees and performance, evaluating manager reporting practices, and supervising and negotiating workouts.

In 1985, Ms. Gerardo Lietz co-founded a highly successful institutional real estate money management firm, Public Storage, Inc., and was actively involved in the deployment of pension capital to acquire real estate assets. Prior to this she was an attorney specializing in SEC and ERISA matters, especially on behalf of pension funds, real estate managers, and real estate pension consultants.

Ms. Gerardo Lietz received her undergraduate degree with honors from Stanford University and her JD from UCLA School of Law, where she was one of the chief editors of the UCLA Law Review. She is a current member of the California State Bar. She is also a former member of the Pension Real Estate Association Board of Directors and the Real Estate Research Institute. Presently she is a guest lecturer at the Harvard Business School. She is also an annual guest lecturer at the Harvard Business School, Wharton Business School, and MIT Center for Real Estate.

William Poorvu
Professor Emeritus,
Harvard Business School

William J. Poorvu. Class of 1961 Adjunct Professor in Entrepreneurship, Harvard Business School. Poorvu has developed the case studies and has been teaching the Real Property Asset Management and Field Studies in Real Property courses at the Harvard Business School since the 1970s. He was Senior Lecturer, Harvard Graduate School of Design (Department of City Planning), July 1968-June 1977. His research deals with the entrepreneurial process in large and small companies, capital formation in real estate, and the growth and operation of real estate companies and family businesses. He is the author of a casebook entitled: The Real Estate Challenge: Capitalizing on Change, published by Regents/Prentice Hall, 1996 as well as Real Estate: A Case Study Approach also published by Prentice Hall in 1993. His most recent book, released in September 1999, is The Real Estate Game: The Intelligent Guide to Decision-Making and Investment, published by The Free Press.

Poorvu was also involved in a television company, Boston Broadcasters, Inc. owner of WCVB-TV, Channel 5, Boston in the various capacities of Treasurer, Vice Chairman, President and Director from the company's founding in 1963 to its sale in 1982. He also has been managing partner in a number of real estate companies and a founder of the Baupost Group, an investment advisory firm of which he was formerly Chairman. He is now Chairman of its Board of Advisors. He is a Trustee/Director of the Massachusetts Financial Services group of mutual funds and a Trustee of CBL & Associates Properties, Inc.

He has consulted for a number of financial and real estate companies and public agencies, published several articles and talked or lectured to numerous groups and universities both nationally and internationally. He is a Life Trustee and former Vice Chairman of the Board and Treasurer of the Boston Symphony Orchestra; a member of the Yale University Council and a former member of its Investment Committee; Trustee and Treasurer of The Gardner Museum; Vice Chairman of the National Public Radio Foundation and on the Investment Committee of the Carnegie Foundation. He has served on the Board of other non-profit and community groups.

He received his B.A. from Yale University in 1956 and his M.B.A. in 1958 from Harvard Business School.

Bryce Blair
Chairman and CEO,
AvalonBay Communities

Bryce Blair is Chairman of the Board and Chief Executive Officer of AvalonBay Communities, Inc. Mr. Blair previously held the positions of Chief Operating Officer and Senior Vice President of Development, Acquisitions and Construction. He has overseen the development, construction, acquisition and management of over $8 billion of multifamily assets.

Prior to the formation of Avalon Properties in 1993, Mr. Blair was a Partner with Trammell Crow Residential (TCR) from 1985 to 1993, overseeing multifamily investments in the New England area.

Mr. Blair received his Masters degree in Business Administration from Harvard Business School. He graduated magna cum laude with an undergraduate degree in Civil Engineering from the University of New Hampshire. Mr. Blair is a member of the Urban Land Institute (ULI) where he serves as chairman of the multi-family council, the National Multi Housing Council (NMHC), Young President's Organization (YPO) and the National Association of Real Estate Investment Trusts (NAREIT), where he is on the Board of Governors.

Peter Aldrich
Founder,
AEW Capital Management

Peter C. Aldrich is a life long entrepreneur and educator. He loves to discover new ideas and build teams to explore the benefits of those musings. His current activities center on seed capital and international capital formation. Mr. Aldrich was a pioneer in the investment of American pension capital into real estate. He was the founder of the Pension Real Estate Association, of The Boston Company Real Estate Counsel, Inc., and with Tom Eastman and Mark Waltch, of Aldrich Eastman Waltch, L.P. (now known as AEW Capital Management), one of the nation's largest property investment advisory firms. He was graduated from the Phillips Exeter Academy (of which he was a longtime Trustee), from Harvard College and from its Business School. (He served on Harvard's Visiting Committee on University Resources). He is a past faculty member of the Yale School of Organization and Management and of the Harvard Business School. He is also a Trustee of Bard College, a Director of the National Bureau of Economic Research, Trustee of Boston's Museum of Fine Arts and of the Massachusetts Eye & Ear Infirmary, and formerly a Governor of the Jerome S. Levy Economics Institute, and a past Trustee of Simon's Rock, ("the Early College"), of the Pro Arte Chamber Orchestra, and of the Shady Hill School.

Mr. Aldrich was founder and chairman of AEGIS, LLC (formerly AEW International), which had affiliate investment companies in Mexico, Russia, Ukraine, Italy, Georgia, Armenia, and Azerbaijan. He was the Co-Chairman of the Sichuan Foreign Investment Advisory Board and was formerly a U.S. Peace Corps Volunteer in the Philippines. More importantly, Peter is retired and enjoys time with his children, swimming, fly-fishing, baseball, motorcycling, water coloring, ancient Greek pottery, golf, American painting, astronomy, model trains and any good book, good company, or good friend.

Roberto Ordorica
CEO,
Prudential Real Estate Investors, Latin America

Mr. Ordorica is Head of PREI-Latin America. In this capacity, Mr. Ordorica's duties include developing and implementing PREI-Latin America's strategy, as well as overseeing PREI-Latin America's operations, including but not limited to property acquisitions, asset management, property sales, portfolio accounting and research.

Mr. Ordorica has extensive experience in providing clients with strategic advisory services (including both mergers and acquisitions as well as asset dispositions) and in assisting clients in raising both private and public debt and equity. Mr. Ordorica has participated in some of the most significant real estate transactions in Latin America. Prior to joining PREI, Mr. Ordorica was head of the Latin America team at JPMorgan's Global Real Estate Investment Banking group. In 1989, Mr. Ordorica served in the administration of Mexican President, Carlos Salinas de Gortari, as an investment associate focusing on infrastructure projects.

Mr. Ordorica graduated from the Massachusetts Institute of Technology, in Cambridge, Massachusetts, with a Bachelor's degree in Planning, a Master's degree in City Planning and a Master's degree in Real Estate. Mr. Ordorica's academic achievements have been recognized by his appointed membership to the Mexican Society for Geography and Statistics. The Society, founded in 1833, is the oldest and one of the most important Mexican academic institutions. Charles Darwin and Alexander von Humboldt were once members of this institution. Membership is exclusive and comes only from internal nomination to the board of directors for notable contributions in the field.

Walt Rakowich
President and COO,
ProLogis

Walt Rakowich is President, Chief Operating Officer, and a member of the Board of ProLogis. Mr. Rakowich also serves on the Executive Committee, responsible for setting the strategic direction of the company and monitoring its implementation and progress. Prior to becoming President and COO in January 2005, Mr. Rakowich served as Managing Director and Chief Financial Officer of ProLogis, positions he held since December 1998. As CFO, Mr. Rakowich was responsible for worldwide corporate finance, including treasury, cash management, financial planning, financial reporting, accounting, information technology and investor relations.

Prior to becoming CFO, Mr. Rakowich held the position of Senior Vice President/Director of the company's Mid-Atlantic region where he was responsible for expanding the reach of ProLogis to the leading logistics markets in the Midwest and Atlantic states.

Prior to joining ProLogis, Mr. Rakowich spent nine years as a Partner with real estate provider Trammell Crow Company where he was a member of the Management Board responsible for commercial and industrial development, leasing and management throughout Southern California. Prior to joining Trammell Crow, Mr. Rakowich was with Price Waterhouse in Pittsburgh, Pennsylvania, for four years as a senior audit and tax consultant.

Mr. Rakowich received his M.B.A. from Harvard Business School and his B.S., with distinction, in Accounting from Pennsylvania State University.