---

Land & Capital Sessions & Agenda
Wednesday, June 19, 2024

ACC North, Second Level, Room 251C

8:30am –12:00pm

The Economic and Housing Outlook
Two of housing’s leading economists will team up to share their short-term and long-run outlook for residential construction. NAHB’s Robert Dietz and Zonda’s Ali Wolf will explore the demand-side and supply-side opportunities and obstacles that will drive housing markets in 2024 and 2025. They’ll also present current data for macroeconomic conditions, including the future of interest rates, Federal Reserve monetary policy, and demographic and geographic factors affecting the what, where and why of home building.

Robert Dietz, Chief Economist, NAHB
Ali Wolf, Chief Economist, Zonda

Land Banking Strategies and Structures
In an inflationary environment, investment capital is increasingly flowing to residential land banking, creating potential a win-win that preserves near-term cash flow and long-term land availability for builders. Hear from key players as they discuss their appetite for investment, terms, returns, risk factors, and other due diligence considerations.

Leigh Austin, Principal, Arroyo Capital, LLC
Sara D’Eathe, SVP Finance and Accounting, Hayden Homes
Joel Kaul, President, Domain Real Estate Partners
Scott Shipley, Senior Vice President, Lennar
Moderator: Erica Bose, Partner, Cox Castle & Nicholson
 

Capital Markets: Securing Debt
Get insights and strategies for navigating debt markets today and going forward. Hear from a range of leading lenders on who’s lending (and who isn’t), what types of deals, what size and terms, and what changes in the debt landscape can be expected on the horizon.

Tony Avila, Founder & CEO, Avila Real Estate Capital
Tom Farrell, Division Manager of Homebuilder Finance, Umpqua Bank
Charles Salas, Sr. Underwriter, Seattle Funding Group of CA
Moderator: Tony Eaton, President, Land Advisors Organization - California

Capital Markets: Raising Equity
This panel of equity providers will answer key questions: Who are the active investors? What are they looking for? How do they find the right deals, and what do those terms look like? What’s worked for them recently, and what’s their outlook moving forward?

Jason Keller, Managing Director, Oaktree Capital Management
Aimee Martin, Senior Director, GTIS Partners
Renee McDonnell, Managing Director, IHP Capital Partners
Moderator: Tim Sullivan, Chief Advisory Officer, Zonda
 

12:15 – 1:15pm

Lunch – boxed lunch provided, or sample the food trucks outdoors in PCBC Plaza


1:15 – 4:00pm

Preparing Your Company (and Yourself) to Sell
At some point, every builder will face the prospect of selling, and the considerations—timing, terms, transition—go beyond the business itself. In this candid, behind-the-curtain session, industry icon Larry Webb will share his own experiences on the inside of multiple homebuilder transactions, what went into the process, what drove the decision-making, what he’d do differently, and advice for any principal navigating (or thinking about navigating) this process.

Larry Webb, Founder, The Webb Group
 

M&A Update: If Not Now, When?
Strong balance sheets and market fundamentals have fueled a flurry of M&A transactions, and the nationwide undersupply of housing suggests the activity won’t be slowing down soon. This panel of M&A insiders will look at the market dynamics for buyers and sellers, giving you a valuable perspective on opportunities, deal structures, and factors that affect your company’s valuation—both qualitative and quantitative.

Steven Friedman, Director, CohnReznick LLP
Corin Korenaga, Partner, Cox, Castle & Nicholson
Luke Klee, Vice President, Whelan Advisory Capital Markets
 

Program Wrap Up: Thoughts and Takeaways
Tying together threads and themes from the day’s agenda, we’ll summarize key ideas from each session—and maybe bring a few of the presenters back to the stage for further questions and exploration.

---

Land & Capital Advisory Committee

---