JFRE Legends & Leaders Program Booklet

Jewish Federation Real Estate

Legends & Leaders October 15, 2021 | Kimmel Center

Who We Are Jewish Federation Real Estate (JFRE) is an affinity group of the Jewish Federation of Greater Philadelphia that brings together the region’s real estate professionals to exchange ideas, network, hear from the brightest minds in the business – and to participate in impactful philanthropy.

Connect, Learn and Lead

Make a Difference

Expand and deepen your network. JFRE members stay at the forefront of the real estate industry through exclusive networking events, educational programs and the annual Legends and Leaders.

Discuss cutting-edge business trends, stay informed about new projects and meet industry leaders in informal settings. And as you advance your own career, you advance the Jewish communities.

Philanthropy is at JFRE’s core. Your $1,000+ annual contribution to the JFRE Fund or the Jewish Community Fund provides critical resources for capital projects in Greater Philadelphia and Israel. In recent years, JFRE has invested more than $3 million to repair homes for low-income older adults and families; support food pantries and safe houses for at-risk youth; upgrade Jewish overnight and day camp facilities; and facilitate other flagship capital projects.

Invest In Yourself, Invest In Your Community JFRE offers its members an invaluable opportunity to engage, connect and invest in themselves and in our Jewish communities.

For more information about JFRE, visit jewishphilly.org/jfre

J E W I S H F E D E R AT I O N R E A L E S TAT E L E G E N D S A N D L E A D E R S

WE SALUTE The Jewish Federation of Greater Philadelphia and its Legends and Leaders for its steadfast commitment to Carry the Light throughout our region.

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800220BANK

Program 7:30 a.m.

In-person Registration, Breakfast and Networking

8:45 a.m.

Welcome Remarks and Program Matthew Pestronk, Immediate Past Chair, JFRE; President, Post Brothers Michael Balaban, President and CEO, Jewish Federation of Greater Philadelphia

Keynote Address David Adelman, CEO, Campus Apartments; Founder, Darco Capital; Co-Founder, FS Investments; Board Co-Chair, Jewish Federation of Greater Philadelphia In conversation with Jonathan Morgan, Chair, JFRE; President and Founder, Morgan Properties JV

In Memoriam, Ronald Rubin Z”L Introduction by Robert A. Zuritsky, JFRE Executive Committee Member

9:25 a.m Panel Discussion: Pandemic Playbook: Coming Out of COVID Stronger Than Ever Matthew Pestronk, Immediate Past Chair, JFRE - Moderator Carl Dranoff, President and CEO, Dranoff Properties William H. Glazer, CEO, Keystone Property Group Mitchell Morgan, Founder and CEO, Morgan Properties

9:55 a.m.

Closing Remarks Jonathan Morgan, Chair, JFRE

Keynote Address David J. Adelman in Conversation with Jonathan Morgan David J. Adelman, Keynote Speaker David J. Adelman is a Philadelphia-based entrepreneur and active private investor.

He is the Co-Founder and Vice Chairman of FS Investments, a leading manager of alternative investment funds with twenty-four billion dollars of assets under management. He is also the CEO of Campus Apartments, a Philadelphia-founded firm that he built into a national leader in student housing development and management, with more than two-billion dollars in assets under management across 17 states. David also runs Darco Capital which has made over 50 investments in the venture capital and private equity spaces across multiple disciplines like fintech; sports & media; life sciences; and consumer-facing brands. He serves as the Lead Director for private aviation disruptor, Wheels Up. Additionally, David serves as Co-Chair for the Jewish Federation of Greater Philadelphia and Vice Chair of University City District Board of Directors, while also serving on the Penn Medicine Board of Trustees and the Board of Councilors of the USC Shoah Foundation. He is a past recipient of the “Entrepreneur of the Year” award from Ernst & Young in the real estate category for Greater Philadelphia and is a member of the Real Estate Roundtable and Young Presidents’ Organization. He received his BA in Political Science from Ohio State University and resides in the Philadelphia suburbs with his wife and two daughters.

Jonathan Morgan, JFRE Chair As President and Founder of Morgan Properties JV, an affiliate of Morgan Properties, Jonathan Morgan handles the day-to-day management and operations of the company’s portfolio and oversees acquisitions and capital markets. Since its inception in 2011, Morgan Properties JV has been one of the most active and fastest-growing multifamily investors in the country. Under Jonathan’s leadership, the company has purchased over $10 billion in acquisition volume and over 75,000 units, asserting its proven track record of creating value for its investors through value-add repositioning, rehabilitation, and professional management expertise.

He was recognized with Real Estate Forum’s 50 Under 40 award two years in a row, Philadelphia Business Journal’s 40 Under 40 recipient, Multifamily Executive’s Rising Star, one of Philadelphia Business Journal’s Most Admired CEOs of 2019 and the Ernst & Young Entrepreneur of the Year 2019 in Greater Philadelphia. Jonathan is currently on the National Multifamily Housing Council’s (NMHC) Board of Directors, Chair of the Jewish Federation Real Estate Group’s (JFRE), Pennsylvania Apartment Association’s (PAA) Executive Board and Children’s Hospital of Philadelphia’s (CHOP) Corporate Counsel. Jonathan is an active member of the Philadelphia Chapter of the Young Presidents Organization (YPO). He currently resides in the Philadelphia suburbs with his wife and their four children.

Getting involved is important.

At M&T Bank, we know how important it is to support those organifiations that make life better in our communities. That’s why we offer our time and resources, and encourage others to do the same. Learn more at mtb.com/community.

M&T Bank is proud to sponsor the Jewish Federation Real Estate's Legends & Leaders.

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Steak 48 is proud to support the Jewish Federation of Greater Philadelphia and the Jewish Federation Real Estate’s 9th Annual Legends and Leaders event.

JFRE is a significant force for good, and Steak 48 is honored to help to “Carry the Light” in Greater Philadelphia.

Legends and Leaders Panelists Pandemic Playbook: Coming Out of COVID Stronger Than Ever Carl Dranoff | President and CEO, Dranoff Properties Urban visionary Carl. E. Dranoff has earned national recognition for his gamechanging approach to residential development in the urban core. As president and CEO of Philadelphia-based Dranoff Properties, Carl has developed over 1.4 million sf of prime real estate valued at $1 billion with projects ranging from ground-up skyscrapers, adaptive reuse, and mixed-use developments.

Developments, built by Dranoff, share a common theme – they are stylish, characterdefining, beautifully designed expressions of modern luxury living. Philadelphia’s most iconic condominium high rises, including One Riverside, 10 Rittenhouse, Two Liberty, Symphony House, and the under-construction Arthaus, are his work.

The uber-luxurious, trend-defying Arthaus is Dranoff ’s latest achievement opening this Spring across from the Kimmel Center. Designed by international A-list architect Kohn, Pedersen Fox, the condominium residences feature expansive skyline and river views and floorplans and finishes worthy of a magazine spread. The resort-style amenities, green spaces, gardens, and white-glove service make every day feel like a vacation.

Over his career, Carl has had a steady stream of development achievements that have raised the bar on luxury living and changed the equation for urban living. His game-changing apartment and condominium developments are credited with turning around many declining Philadelphia neighborhoods, the Camden, NJ’s Waterfront, Newark, NJ’s art district, and the Ardmore PA’s business district.

William H. Glazer | CEO, Keystone Property Group Bill Glazer founded Keystone Property Group in 1991. Initially a real estate brokerage firm, Keystone grew into an investment firm in 1993, to a development company in 1997, to a real estate private equity firm in 2003, and to a full-service real estate investment and development operating enterprise in 2014. He has invested and developed over 12 million square feet of properties in billions of dollars of transactions using multiple investment structures, such as Joint Ventures, Individual Syndications, Direct Investments, Real Estate Private Equity Funds and Strategic Partnerships.

In addition to his real estate equity investments, Bill served as Chairman of the Board of Hyperion Bank, a Pennsylvania state-chartered commercial bank. Further, he serves as Director on non-profit boards, including the Jewish Federation of Philadelphia.

Bill’s professional affiliations include the Young President’s Organization, National Association of Industrial and Office Properties, Urban Land Institute and Wharton School’s Zell/Lurie Real Estate Center.

A graduate of the University of Pennsylvania, Bill is the recipient of many awards and honors, including the Pennsylvania Award for Community Excellence, the Chamber of Commerce Award for Excellence, the Philadelphia Business Journal’s 40 Under 40 Award and the Ernst and Young Entrepreneur of the Year Award.

An avid endurance athlete who has completed numerous marathons and triathlons, Bill’s long-term training philosophy mirrors his patient investment philosophy.

Mitchell L. Morgan | Founder and CEO, Morgan Properties As the Founder and CEO, Mitchell Morgan is responsible for overseeing all business at Morgan Properties, which he founded in 1985. Under his leadership, Morgan Properties has grown to become the second-largest multifamily owner in the country with a portfolio comprised of 340 apartment communities and over 90,000 units in 21 states. Morgan Properties is currently the largest apartment owner in the states of Pennsylvania, Maryland, and New York.

Mitchell earned a Bachelor of Science in Accounting from Temple University in 1976 and a law degree from Temple Law in 1980. He currently serves as the Chairman of the Board of Trustees at Temple University after serving as a longstanding trustee and the Chair of the Facilities Committee. Mitchell also serves on the Board of Trustees at the National Museum of American Jewish History, Federation Housing, and Golden Slipper. In addition, he is a research sponsor at the Samuel Zell and Robert Lurie’s Real Estate Center at the Wharton School. In the past, Mitchell has served as President of the Apartment Association of Greater Philadelphia, a Board member of the Royal Bank of Pennsylvania, and a Trustee of the Penn Medicine Board. Through the Morgan Family Foundation, Mitchell and his family are deeply committed to making a difference in the lives of others, supporting organizations including The National Museum of American Jewish History, the Jewish Federation of Greater Philadelphia, Jewish Family & Children’s Services, Temple University, The Barnes Foundation, The Philadelphia Orchestra, Philadelphia Museum of Art, Institute of Contemporary Art, and the Dana-Farber Cancer Institute.

Matthew A. Pestronk | President, Post Brothers - Moderator Matthew Pestronk is Co-Founder of Post Brothers, a real estate investment, development and management company with singular and unique expertise in urban real estate development. Matthew serves as President of the company, engaged in the sponsorship of Class-A multifamily, mixed-use and retail development projects comprised of over 7,000 units that are operating, under development or disposed plus, over 400,000 sf of commercial space, with a total capitalized cost in excess of $2.5 billion.

Matthew shares strategic leadership of the company with his brother, Michael, and is engaged in asset management, financing, and project and capital formation. Matthew has worked in real estate capital transactions for his entire 20+-year career and was previously a real estate financing executive in New York City prior to forming Post Brothers.

He is also very active in his community and has board service experience for multiple charitable organizations including the Philadelphia Holocaust Remembrance Foundation, Beat the Streets Philadelphia, West Nottingham Academy, Children’s Hospital of Philadelphia and is the Immediate past Chair of Jewish Federation Real Estate.

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Ronald Rubin : In Memoriam z”l

A Legend and a Leader | 1931 - 2021 Ron Rubin was a Philadelphia real estate visionary and a pillar of the local Jewish community. A native of West Philadelphia, Ron was the son of a Ukrainian immigrant.

In the real estate world, Ron was known as the head of Pennsylvania Real Estate Investment Trust (PREIT), the region’s largest mall landlord, and for founding the Center City District in 1991.

Ron was influential in the preservation of some of the city’s most iconic buildings, including the Bellevue Stratford Hotel, which former Mayor Frank Rizzo wanted destroyed in the mid-1970s after an outbreak of Legionnaires’ disease, and the PSFS building, now known as the Loews Philadelphia Hotel. Ron also created many of the city’s signature buildings, including the 54-story BNY Mellon Center.

Ron was PREIT’s CEO from 1997 through 2012 and stepped down as Executive Chairman in 2016 — although he still maintained an office afterward.During his tenure, PREIT bought the Gallery at Market East, which was revamped in recent years as Fashion District Philadelphia. PREIT also renovated the Cherry Hill Mall and counted Willow Grove Park and the Moorestown and Plymouth Meeting Malls among its properties.

Ron was an active leader in the Jewish community, serving as the President of the Jewish Federation’s Board of Trustees from 1978-80 as well as on the board and numerous committees for nearly 50 years. He was also a major proponent and advocate of Jewish Federation Real Estate’s mission, since the group’s inception. Ron was honored at the National Museum of American Jewish History’s Only in America Gala in 2016, which featured a performance by Andrea Bocelli. Ron served as a trustee and co-chairman of the museum and helped see the construction of the Market Street building from the ground up.

I’m certainly a practicing Jew. I don’t want to say I’m holier than thou. I believe in the basics. My business career — my life — is all based on relationships, and ultimately all relationships, if they have any meaning, are based on trust. I try to impart that culture in my business. Building relationships is everything. I don’t know whether that’s a Jewish ethic. But it certainly has driven my life.

Quoted in 2012 Jewish Exponent interview

JFRE COVID-19 Emergency Fund JFRE launched an emergency campaign to provide immediate resources and relief for our community during the COVID-19 pandemic with a focus on food insecurity, totaling $157,016 in pledged and matched contributions to the following initiatives: • Mitzvah Food Program, for those who have recently become food insecure, to offset the cost of food and supplies for an increasing client base • KleinLife’s Meal Delivery Program, home delivery program for older adults • MANNA, to provide medically-tailored meals and nutrition education for people with serious illnesses • Greater Philadelphia Hotel Association’s Hospitality Workers Relief Program, to provide gift cards for local grocery stores and pharmacies to be distributed to hotel employees who have been furloughed, laid off, or lost their jobs

JFRE Projects 2020-2021 We are proud to announce that JFRE awarded a total of $195,788 in grants for 7 capital projects in Greater Philadelphia and Israel.

Local Projects Abrams Hebrew Academy

Center City Eruv

Gan Israel Day Camp

Abrams Hebrew Academy is an independent, co-educational Community Hebrew Day School that embraces Jewish families from all backgrounds. The school is the only Hebrew Day School in Bucks County, and is a center for Jewish life and learning in the immediate and surrounding communities. The JFRE grant will be used to replace a 15-yearold security system with a new Honeywell Vista 250 FBT addressable security system that can integrate with the CCTV and Access control system. Additional enhancements include active shooter pull boxes, technology to identify the alarm origination, and full integration with the Honeywell security equipment.

The Center City Eruv serves about 400 - 500 residents, including about 100 families, and covers the city's major hospitals for visitors and tourists. Maintained by a nonprofit created by volunteers, the Eruv requires regular repairs and maintenance, and occasional expansion projects as the Jewish community in Center City grows.

Constructed 13 years ago, the current structures are extremely vulnerable to damage resulting from poor weather conditions, nearby construction and increased traffic. The JFRE grant will fund work to replace and reconfigure the existing Eruv wires and poles on Poplar Street, from Broad Street to I95.

The Gan Israel Youth Services programming provides support and inspiration through their flagship Summer Day and Overnight Camps, plus year round activities to keep the children connected, such as Winter Day Camp, and weekly Sports Leagues and Clubs. The Creative Arts Center is intended as a space for kids to reconnect with the free spirit of their childhood and reinforce the value of their imagination and creativity, however the structure has fallen into disrepair. The JFRE grant will supplement additional dollars raised to build a refreshed, inviting Creative Arts Center to replace and upgrade the current 30-year-old stage.

Security Upgrade and Enhancements

Capital Improvements

New Creative Arts Center

JEVS Human Services

The Mesivta High School of Greater Philadelphia

Capital Improvements

The Tikvah Residence is a supportive home in Delaware County that strives to improve the quality of Jewish community life for vulnerable adults with serious and persistent mental illness. The residence was built in 1966 and the building has experienced repeated plumbing emergencies during the past year. The JFRE grant will address structural issues, including the replacement of failing pipes that have caused flooding and apartment damage, as well as installing new fire-rated steel entrance doors, frames, and hardware.

Capital Improvements

The Mesivta High School of Greater Philadelphia is an Orthodox Jewish boys’ high school, educating students in grades 9-12 in Torah, Jewish Law, Ethics and secular disciplines. The Mesivta has two sets of boilers, gas and oil, both of which are 30 years old and in need of replacement.

The JFRE grant will replace the oil boiler that handles the heat on the educational side of the school building.

Israel Projects ELI: Israel Association for Child Protection Equipment Upgrade

The Israel Association for Child Protection (ELI) is recognized by the Government of Israel and other human service agencies as the only organization in Israel that deals specifically and exclusively with all of the various aspects of child abuse. Their school-based child abuse prevention and awareness program educates and screens approximately 60,000 children annually for child abuse, which reveals nearly 1,000 disclosures of abuse not previously reported.

The JFRE grant will help replace and upgrade ELI’s scenery and equipment for the program that will be used by therapists and other trained professionals at schools around the country for many years to come.

Israel Emergency Campaign In response to the rocket fire and unrest in the streets of Israel, the Jewish Federation launched an Emergency Campaign to address needs in Israel with a special emphasis on our partnership region of Netivot and Sdot Negev. The JFRE grant will support a number of capital and infrastructure-related work: updates, upgrades and relief supplies for bomb shelters, including air conditioning units, emergency lighting, mattresses, fire-fighting kits, as well as furniture and blankets for soldiers in Iron Dome posts.

Donate to the JFRE Fund: jewishphilly.org/jfrefund J E W I S H F E D E R AT I O N R E A L E S TAT E L E G E N D S A N D L E A D E R S

Thank You to Our Sponsors Presenting Sponsor

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As of October 11, 2021

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JEWISH FEDERATION REAL ESTATE (JFRE)

Executive Committee Jonathan Morgan Chair Matt Pestronk Immediate Past Chair

David Adelman Dan Berger Jeremy B. Fogel Bill Glazer Bradley J. Korman Bradley A. Krouse Michael Markman

Jessica Morgan Jake Reiter Malina Robbins David Waxman Spencer Yablon Robert A. Zuritsky

JEWISH FEDERATION OF GREATER PHILADELPHIA David Adelman Board Co-Chair

Michael Balaban President and CEO

Steven Rosenberg Chief Operating Officer

Gail Norry Board Co-Chair

Melissa Greenberg Executive Vice President and Chief Development Officer

Nikki DiCaro Chief Financial Officer and Chief Data Officer

Sherrie Savett Campaign Chair

Kelly Romirowsky, PsyD Chief Strategy and Impact Officer

The Jewish Federation of Greater Philadelphia mobilizes financial and volunteer resources to address the communities’ most critical priorities locally, in Israel and around the world.

2100 Arch Street, Philadelphia, PA 19103 | 215.832.0500

jewishphilly.org | @JewishPhilly

To ensure as much of the dollars raised as possible are utilized to support these priorities, this brochure was created and printed in-house.