Speaker

Ms. Rebekah Tobias

Independance Ventures

Rebekah is founder and MD of Independence Ventures, a consulting firm specializing in real estate advisory for prominent family offices and institutional investors with a focus on operational real estate strategies. She is currently a board member and NED at UndertheDoormat Group, including tech arm Hospiria, board member at proptech firm Hococo, and senior advisor to Loopliv, a later living operator focussed on age restricted build-to-rent in the UK. In addition, she is a consultant and advisor for a number of Heitman portfolio companies, including Bo Coliving in Norway and U Store It in Ireland, and Director of Heitman’s UK REIT. Rebekah was formerly MD at family office and investment firm Marcol, leading new business and portfolio company growth strategies in real estate, venture and private equity. She has been very active in the sourcing and management of asset-backed operating businesses in Europe, such as Space Plus in Germany. Rebekah is an advocate for creating outperformance through diversity and supports mentoring programs such as CREW UK and Mentoring Circle. In addition, she sits on the real estate expert council at Global Family Office Community (GFOC) and is an angel investor and venture partner in First Look, an early-stage VC firm investing in women and minority-led tech companies in finance, health, future of work and real estate. Prior to working with family offices, Rebekah was Divisional Director at pan European fund manager M7 Real Estate now owned by Oxford Properties. Previously, she held various senior roles at CBRE in New York and London and was a Partner at Cushman & Wakefield in the cross border capital markets team advising North American private equity and pension funds investing in European real estate. Rebekah has over 20 years of real estate and investment experience. She holds a BA in English from San Diego State University, during which time she completed a special study in English Literature at the University of Cambridge. Rebekah is a certified real estate appraiser in New York and Member of the Royal Institution of Chartered Surveyors (MRICS).

Speaking at

Tue 11 Jun 5:00 PM — 6:30 PM (GMT+01:00) Amsterdam, Berlin, Bern, Rome, Stockholm, Vienna Via Monte Rosa 91, Via Monte Rosa 91

Operational Real Estate Forum (limited capacity, pre-registration required)

Philipp Braunfels, Jamestown Europe GmbH

Mr. Carl-Johan Collet, Fokus Nordic

Mr. Marcin Juszczyk, Capital Park sp. z o.o.

Mr. Simone Pozzato, Hines Europe Ltd

Valentina Shegoyan, OPREIM

Mr. Jakob Stoumann, LifeX

Ms. Rebekah Tobias, Independance Ventures

Type In-person

ULI Forum: Operational Real Estate

Active real estate asset management is for the foreseeable future the likely driver of real estate returns. Operational properties are a particularly interesting segment of active asset management with returns being more aligned with and dependent on the operation of the business carried out within the building, often resulting in higher rents with some variable component. The operational alignment means that specialist skills are required to manage these real estate assets, often handled by operator-driven real estate platforms, specialized within subsets of real estate and focused on tightly segmented customers categories. A combination of brand, digitally born business models, service along with assets designed for these customer categories means that the customers will pay a higher rent for this space.

To get the correct design for an operational asset requires exceptionally close co-operation with an operator. But after commissioning, these assets can also deliver much higher capital values and rental growth. The high capital values allow net zero capex needed for stranded assets to be delivered with good profitability.??A financially viable project that complies with zero carbon needs efficiency of design (a capital item) as well as efficiency of operation (a revenue item). The latter implies constant re-commissioning, tenant engagement, the development of tenant apps and so on. This explains why the right operator can command a rental premium.

Investment managers will need to consider very carefully whether they wish to become operators themselves and whether they want to start up their own platforms or acquire existing ones.

Speakers:

Valentina Shegoyan, Founding Partner, OPREIM,

Carl-Johan Collet, Chief Investment Officer, Fokus Nordic

Simone Pozzato, Managing Director and Fund Manager, Hines

Marcin Juszczyk, Managing Partner, Capital Park Group

Rebekah Tobias, Founder and MD, Independence Ventures?

Ms. Rebekah Tobias

Independance Ventures

Speaking at

Operational Real Estate Forum (limited capacity, pre-registration required)

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