US ‘Multifamily’ Housing Study Tour

September 2019Sunday 29th September to Wednesday 2nd October 2019

San Francisco. Silicon Valley. Los Angelesdwoodward@globalaptadvisors.com

In association with the

▪ Study tours are designed to provide detailed insights to up and

running multifamily/BTR properties and meet with industry

executives, who will share their experiences of the growth and

evolution of the industry.

▪ The properties to be visited include both urban downtown properties

and suburban ‘garden style’ (low rise) developments. In all cases, the

properties are newly built and will demonstrate the latest thinking

and trends for multifamily/BTR developments.

▪ The property visits include a guide around the amenities, showcasing

latest trends and tech but also the back of house operational areas.

▪ The study tours are carefully balanced to give as broad an education

to delegates as possible, while also seeking to deep dive into some of

the operational and revenue considerations and challenges faced by

these properties.

▪ The study tours are overlaid with feedback on demographic trends

and how this is influencing unit mix, design, amenities and services.

Overview

"The GAA tour to New York and Washington was hugely valuable for me. The breadth and variety of property tours was incredibly impressive; and the insight gained from speaking directly with the property operators and staff added a real richness to the tour . The unparalleled access we had to senior industry experts across a number of private lunches and dinners was the highlight as it provided an opportunity to learn from true experts in the field. The cohort on the tour complemented each other well and enabled us to share our experiences from different viewpoints. The organisation from GAA was excellent and I would recommend this tour to anybody looking to learn more about the BTR sector."Jeremy Fletcher. Chief Operating Officer

"It was great to meet everybody on the tour, we were all on the one journey to learn as much as we could about this business. David and Dominic at GAA really laid it on, it was very professional and well executed, including the arranging of the various contributors. Their hard work in preparation for the trip actually hit the sweet spot and we’ll came away with more knowledge on how the rental should be managed from A - Z." Joseph O Reilly. Founder & Executive Chairman. Chartered Land

"The GAA tour to New York and Washington was a valuable and informative experience. It was well organisedand covered a variety of relevant subjects from building types, operational models and discussions with leading industry figures and organisations. I learnt a great deal about the US rental sector and this will enhance my ability to develop relevant solutions for the UK market. Most useful and helpful of all was that the knowledge sharing within the cohort. A masterclass is in the US rental sector and all very relevant to the emerging BTR sector in the UK. Well worth the investment, highly recommended."Brendan Geraghty. Director. Geraghty Taylor

“The 2019 Washington and New York study tour organised by GAA comprised an excellent mix of property professionals, active in the Multi-Family Housing/Build to rent sector who quickly coalesced into a group. Openly sharing our perspectives on the selection of multi-family housing which comprised both high-end and niche boutique buildings, with communities of hundreds or thousands of residents selected by GAA was fascinating. The range of communities aptly demonstrated the complexities of managing different buildings, providing appropriate amenities to attract and retain residents. The group, selection of properties (“communities”), engaging pre-dinner talks in marvellous restaurants made a memorable and informative few days. David and Dominic provided something for everyone and sought to effectively accommodate all requests. Well done guys, it was a triumph.” Roberta Anderson. Executive Director. National Apartment Association

Content & Outputs

Content: The property visits will cover the following items and more;

▪ Staffing: staff quantum for different buildings, training and renumeration

feedback

▪ Amenity Provision: types, demand trends, running costs, challenges

▪ Income Related Feedback: from renewal rates (retention), incentives

(concessions), revenue management, leasing and marketing feedback/tips

(including use of social media)

▪ Operational Related Feedback: from running cost items, repairs and

maintenance, spares held on site, redecoration costs and process, empty unit

turnaround costs and management

▪ Demographic Trends: mix of occupiers from families, to singles, to couples,

to sharers. Millennials. Use of social media.

▪ Community Events: types, trends, challenges

▪ Parcel Management: from best practice, tech, trends, considerations and tips

▪ Tech: wider considerations around tech, from security (& fobs) and building

management systems

Outputs: The tour will generate several outputs for those attending;

▪ Photographic Record/Dropbox: the GAA team will take

photographs of all the properties and collate these for tour

delegates, with photographs broken down not only into folders for

the properties but also sub-folders for the various parts of those

properties

▪ Report / Presentation: GAA will prepare a short report /

summary of the findings and observations from the visit for

delegates

▪ Industry Reports: GAA will collate any industry reports /

research and share

The Emerson – The Building – Los Angeles

The Emerson – Amenities

The Emerson – Units

Aliso – The Building – Los Angeles

Aliso – Amenities

Aliso – Units

Fillmore Centre – The Building – San Francisco

Fillmore Centre – Amenities

Fillmore Centre – Units

Encasa – The Building – Silicon Valley

Encasa – Amenities

Encasa – Units

Sunday 31st March 2019 Time Details Comments

Fly to New York City Take early flights if possible or just meet up with group along the way

Uber or taxi from airport to Hotel

Hotel: The Roosevelt Address: 45 East 45th Street & Madison Ave., New York, NY 10017

12.45 pm

Optional Lunch at Hotel

Reservation in the name of David Woodward

2.15 pm

SUV to the 9/11 Memorial

3.00 pm

9/11 Memorial and Visit Freedom Tower

5.00 pm

Walk through Westfield Mall and The Oculus (designed by world-famous Spanish architect Santiago Calatrava)

Reading material: https://www.dezeen.com/2016/08/29/santiago-calatrava-oculus-world-trade-center-transportation-hub-new-york-photographs-hufton-crow/

5.30 pm

Walk to Brookfield Place (excellent example of placemaking)

0.3 miles ~ 6 min walk

Guest Speaker: Executive from Brookfield

Topics: Brookfield Place and Placemaking

6.15 pm

Walk from Brookfield Place to historic Pier A

0.6 miles ~ 10 mins walk

6.30 pm

Drinks and Dinner Address: Pier A, 22 Battery Place, New York, NY 10004

Private reservation in Commissioners Bar for cocktail hour followed by Private dining in the Liberty Room. Reading material: https://untappedcities.com/2014/12/02/a-rebirth-for-pier-a-in-battery-park-photos-of-new-renovation/

Guest Speaker: Drew

Spitler from The Dermot Company

Topics: History and renovation of Pier A, Dermot Company background as NYC multifamily company

Guest Speaker: David Sorise from Pinnacle

Topics: StuyTown War Stories, NYC multifamily, NYC Rent Control

Time Details Comments 8.30 am

SUV pick up from The Roosevelt hotel to AVA DoBro

Drive-by Chrysler Building, Empire State Building, drive over Brooklyn Bridge

10.00 am

Tour of AvalonBay Communities – “2 Properties in 1” – AVA DoBro and Avalon Willoughby Square

Jade Foster – General Manager Tel: 718-643-1581 Email:jade.foster@avaapartments.com Meet at: AVA DoBro, 100 Willoughby Street, Brooklyn, NY 11201

11.00 am

SUV pick up from AVA DoBro to StuyTown

Note: drive-by 555 Broadway in Brooklyn to see the future site for The Collective, then through historic Williamsburg Brooklyn and across the Williamsburg Bridge to StuyTown

12.00 pm

Tour of Stuyvesant Town Address: 276 1st Avenue Loop, New York, NY 10009

Email: Erika.Fernandez@beamliving.com

Guest Speaker and Tour Guide: Rick Hayduk from Blackstone

1.30 pm

SUV pick up from StuyTown to Eataly

Great example of Placemaking

2.00 pm

Lunch at Serra Elpina by Birreria at Eataly Flatiron: Address: 200 5th Ave., New York, NY 10010

Reservation in the name of David Woodward Escape the freezing streets of Manhattan and step into a warm mountain house at SERRA ALPINA by Birreria, our winter "greenhouse" pop-up on the roof. Let yourself be transported to a cozy lodge nestled in the snow-capped Italian Alps. Sit down at rustic, cozy tables, and share down-to-earth dishes made with simple but quality ingredients from our favorite farmers in Italy and the U.S., all served family-style, just like in the countryside.

3.10 pm

SUV pick up from Eataly to Sky

3.30 pm

Tour of Sky Address: 605 West 42nd Street, between Eleventh Avenue & 43rd Street, New York, NY 10036

Toby Gingold Tel: 917 748 4510 Email: toby@liveatsky.com Meet: main lobby

4.30 pm

SUV pick up from Sky to The Roosevelt Hotel

Refresh for dinner

5.30 pm

Meet in hotel lobby for walk to Bryan Cave Leighton Paisner (‘BCLP’) law firm Address: 1290 6th Ave., New York, NY 10104

Note: walk through Rockerfeller Center 0.6 miles ~ 11 min

6.00 pm

Drinks reception hosted by BCLP.

Guest Speaker: Rob Neiffer, Head of Asset Management from AXA (previously with Invesco)

Topics: Branding in the U.S. multifamily industry with case studies

Time Details Comments 5.30 pm

Meet in hotel lobby for walk to Bryan Cave Leighton Paisner (‘BCLP’) law firm Address: 1290 6th Ave., New York, NY 10104

Note: walk through Rockerfeller Center 0.6 miles ~ 11 min

6.00 pm

Drinks reception hosted by BCLP.

Guest Speaker: Rob Neiffer, Head of Asset Management from AXA (previously with Invesco)

Topics: Branding in the U.S. multifamily industry with case studies

7.00 pm

Walk from BCLP to Columbus Circle

Note: walk down Broadway 0.8 miles ~ 17 min

7.30 pm

Dinner at Asiate Address: 80 Columbus Circle at 60th Street, New York, NY 10023

Views of Central Park

OPTIONAL

Uber from Asiate to The Churchill Tavern

OPTIONAL

Drinks at The Churchill Tavern Address: 45 E 28th Street, New York, NY 10016

Tavern owned by a relative of one of our delegates

Monday 1st April 2019

Previous Study Tour Agenda

Time Details Comments 7.00 am

OPTIONAL

Optional walk along ‘The Highline’ and through Hudson Yards

https://www.thehighline.org/

OPTIONAL

Light breakfast and coffee at The Highline

OPTIONAL

Walk from Hudson Yards to The Eugene

8.30 am

SUV from hotel to The Eugene (for those not joining first thing)

9.00 am

Tour of The Eugene by Brookfield Address: 435 West 31st Street, New York, NY 10001

Antje Eichinger Tel: 646 981 0463 Email: Antje@TheEugeneNYC.com Meet: main lobby

Walk from The Eugene to Penn station

Luggage transferred from hotel to Penn station

11.13 am to-2.13 pm

New York Penn Station to Washington, DC’s historic Union Station

Acela Express 2155 ~ Business Class

SUV from Union Station to hotel

Check-in and leave luggage

Hotel: The Hamilton Hotel Address: 1001 14th Street NW, Washington, DC 20005

SUV from hotel to The Hepburn Apartments

4.00 pm

Tour of The Hepburn Apartments

Meet: main lobby

SUV from The Hepburn Apartments to hotel

Refresh for dinner

6.30 pm

SUV from hotel to dinner Meet in the hotel lobby

7.00 pm

Drinks & Dinner: Historic Occidental Grill

Guest Speaker: Bob Pinnegar, CEO of the National Apartment Association (‘NAA’)

Topics: the role of government in the U.S. multifamily industry

Guest Speaker: Julie Smith, MD of Bozzuto Apartments, prominent East Coast multifamily developer, owner and operator

Topics: the evolution of U.S. multifamily and a glimpse into the future

Time Details Comments 7.00 pm

Drinks & Dinner: Historic Occidental Grill

Guest Speaker: Bob Pinnegar, CEO of the National Apartment Association (‘NAA’)

Topics: the role of government in the U.S. multifamily industry

Guest Speaker: Julie Smith, MD of Bozzuto Apartments, prominent East Coast multifamily developer, owner and operator

Topics: the evolution of U.S. multifamily and a glimpse into the future

SUV from dinner to hotel

OPTIONAL

Optional: after dinner drinks at rooftop bar in W Hotel overlooking the White House

Tuesday 2nd April 2019

Time Details Comments

SUV from The Hamilton to The Apollo Apartments

10.30 am

Tour of The Apollo Apartments

Meet: main lobby

SUV from The Apollo to lunch

12.00 pm

Lunch at National Multifamily Housing Council (‘NMHC’) National Headquarters

Guest Speaker: Kenny Emson from NMHC Address: 1775 St NW #1100, Washington, DC 20006

Topics: The role of trade associations in the U.S. multifamily industry; role of government

SUV from NMHC to Garden Style tour

2.00 pm

Tour of U.S. ‘Garden Style’ Apartments by Lincoln Property Company

Meet: main ‘clubhouse’

Guest Speaker: Duncan Slidell from Lincoln Property Company

Topics: The multifamily development and construction process in the U.S.

3.00 pm

SUV from Garden Style to Washington Dulles Airport for return flights

Wednesday 3rd April 2019

Previous Study Tour Agenda