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AGENDA 8:30 AM - 9:15 AM Industry Sector Updates: Industrial Moderator: Cameron Trefry
Tyler Sharp
Regional Vice President, Ware Malcomb
Senior Director Investments, Marcus & Millichap
Brian Quigley
Josh Hearne
Executive Vice President, Conor Commercial Real Estate
Principal, Cawley CRE
Gianni Vissat Acquisitions, Central Region, Realterm
J. D. Salazar Managing Principal, Champion Realty Advisors, LLC
Robin Stolberg Executive Director of Acquisitions, Clear Height Properties
• Market trends and leasing activity. • Investment climate and capital markets. • Industrial development, design and construction update.
4 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Industry Sector Updates: Industrial
Cameron Trefry Regional Vice President Ware Malcomb ctrefry@waremalcomb.com Cameron Trefry is Regional Vice President for Ware Malcomb, an international, award-winning design firm, offering architecture, planning, interior design, branding, civil engineering and building measurement services to corporate and commercial real estate clients. He is responsible for overseeing overall growth in the firm’s Midwest region, including Oak Brook, Chicago, Columbus and Washington, D.C. offices. In addition, Cameron provides extensive Industrial Design and Cold Storage expertise to clients across North America. Cameron began his career at Ware Malcomb in the firm’s Denver office in 2005. The following year he relocated to Chicago, where he was quickly promoted three times and assumed the leadership of the office. Most recently, he was promoted to Principal in 2017. Cameron has extensive experience in all facets of architecture and has worked on a wide variety of projects throughout his career including industrial, warehouse, manufacturing, R&D, office, multifamily and healthcare. As a recognized expert in the commercial real estate industry, he has served as a speaker, panelist and moderator for national conferences such as Chicago Industrial Properties’ Transportation and Logistics Conference, NAIOP I.CON, NAIOP CRE. Converge, and Newmark Grubb Knight Frank’s Industrial Strength Connections Summit, among others.
Industry Sector Updates: Industrial
Brian Quigley Executive Vice President Conor Commercial Real Estate bquigley@conorcommercial.com As Executive Vice President overseeing Conor’s Midwest industrial and office group, Brian is responsible for leading a team of commercial real estate professionals in identifying and securing development opportunities on a local and regional basis. Over the course of his 25+ years in commercial real estate, Brian has developed over 20 million square feet of industrial and commercial product throughout the Chicagoland area and Midwest Region. He applies his proven track record and industry standing to position the firm for continued growth and achievement of its development objectives. In his role, Brian provides strategic direction for the selection and acquisition of single site and multi-parcel land opportunities throughout the Midwest. He also directs and manages the completion of both speculative and build-tosuit developments on behalf of the firm. Prior to joining Conor, Brian worked for Dermody Properties, CenterPoint Properties and Panattoni Development. He is also a Certified Public Accountant and a Licensed Real Estate Broker in the state of Illinois.
6 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Champion specializes in investing and managing transportation related properties and outdoor storage properties in major consumption zones and transportation centers in the United States Champion is now operating under the National Truck Parking Brand (NTP). NATIONAL TRUCK PARKING
Champion seeks to acquire transportation related real estate and outdoor storage properties with the following characteristics: Property: Will purchase stabilized properties, land for ground up construction and, tear-down opportunities; Land Size: 5 acres to 100 acres; Building Size: No building up to 100,000 SF; Floor Area Ratio (FAR): Maximum building to land FAR of 0.25;
Lease Terms: Prefer properties with short term leases or completely vacant; Build-to-Suits: We will enter into forward commitments for build-to-suit and acquire-to-suit opportunities; Acquisition Value: Minimum $5,000,000.
(630) 747.4516 jd@championre.com championre.com 800 W 79th St, Willowbrook, IL 60527
Industry Sector Updates: Industrial
Tyler Sharp Senior Director Investments Marcus & Millichap tyler.sharp@marcusmillichap.com Tyler Sharp of Marcus & Millichap’s Chicago office specializes in the acquisition and disposition of single-tenant and multi-tenant industrial assets across the Midwest. Mr. Sharp’s commitment to clients is working with them to seek opportunities and options that help them achieve the maximum value for their real estate. Sharp utilizes his industrial market expertise and the national Marcus & Millichap reach to assess current challenges or options clients may be facing in regards to their real estate. Mr. Sharp previously worked as an industrial supply distributor for five years in Hampshire and Coal City, Illinois. Sharp chose to work in the industrial real estate sector due to his background in industrial supply sales. He says the experience gave him insight into the different applications industrial space is used in and fueled his curiosity to discover who owns the buildings and how transactions were executed. Mr. Sharp attended Saint Xavier University in Chicago, Illinois and graduated with his Bachelor’s Degree in Finance and Marketing. When he is not maximizing value for clients, he spends his time golfing, hunting, traveling/sightseeing, and spending time with friends and family.
Industry Sector Updates: Industrial
Gianni Vissat Acquisitions, Central Region Realterm gvissat@realterm.com Gianni Vissat is a Vice President of Investments at Realterm and oversees investment activity in the Central Region of the U.S. In this role, Gianni is responsible for sourcing investment opportunities serving the transportation industry including truck terminals, fleet maintenance facilities, and final mile warehouses. Prior to joining Realterm, Gianni Vissat was a Senior Vice President at NW1 Partners where he was responsible for the acquisition and asset management of U.S. Industrial Outdoor Storage investments. Prior to NW1 Partners, Gianni was a Vice President at Terreno Realty Corporation focused on acquisitions and asset management of infill industrial properties in Northern New Jersey, Southern California, and Seattle. Gianni holds a B.A. in Economics from Hamilton College and an M.B.A from Berkeley, Haas School of Business.
8 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
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Industry Sector Updates: Industrial
Robin Stolberg Executive Director of Acquisitions Clear Height Properties rstolberg@clearheight.com Robin leads Clear Height’s acquisitions team with a sharp eye for opportunity and a steady hand in execution. With nearly two decades of experience, he’s a trusted guide in sourcing, underwriting, and closing deals that align with our strategy and values. Before joining Clear Height, Robin spent 18 years at JLL in Chicago, specializing in industrial brokerage, capital markets, and private capital transactions. He’s known for his market insight, collaborative approach, and ability to turn vision into value. Robin earned a BS in economics and finance with a real estate concentration from the University of Illinois. He’s a former board director of AIRE and currently serves on the board of the Children’s Brittle Bone Foundation. Robin brings purpose and perspective to every transaction—and he makes the process enjoyable along the way.
Industry Sector Updates: Industrial
Josh Hearne Principal Cawley CRE jhearne@cawleychicago.com Joshua T. Hearne is a Principal of Cawley Commercial Real Estate and specializes in asset and tenant representation of industrial users and owners. Over the past 15 years, Josh has completed over 350 transactions. Josh has expertise in all areas of industrial real estate in the I-80/55/294 corridors, including lease/contract negotiation, disposition/acquisition, business park development, strategic planning, build-to-suit, site selection, financial modeling and logistics modeling. As a result, Josh has been named the top producer multiple times and is also a partner at the firm. Josh has assisted clients such as DCT Industrial, CenterPoint Properties, Werner Enterprises, ConGlobal Industries, Sperry Equities, Oak Realty, Venture One, PersonalizationMall, Colony Realty, The DeLong Co, Barnett Capital, ML Realty, Hillwood, Liberty Property Trust, Barnhart and Zilber. Josh originated as an intern at Cawley Commercial Real Estate in May 2005 while attending Arizona State University.
10 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
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Industry Sector Updates: Industrial
J. D. Salazar Managing Principal Champion Realty Advisors, LLC jd@championre.com JD Salazar is the Managing Principal of Champion, responsible for the sourcing and acquiring opportunities for the company throughout major consumption zones and transportation centers in the United States. JD founded Champion in 1997, which went on to become one of the most successful 100% Hispanic owned commercial real estate brokerage companies in the US. JD’s career in real estate spans 33 years and includes involvement in over 10 million square feet of industrial lease and sale transactions, and the development of four major Class A business parks in the Chicago Area. JD has extensive experience in sourcing and acquiring transportation related properties and outdoor storage properties. Prior to re-branding Champion into an acquisition, development and management company JD was one of the two founding members of Industrial Outdoor Ventures (IOV). At IOV JD was a member of the Investment Committee and one of five members of the Board of Directors. While at IOV JD sourced over 50% of the company’s acquisitions. JD is a member of the Warehouse Education and Research Council (“WERC”) and the Council of Supply Chain Management Professionals (“CSCMP”).
12 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
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kleighty@oswegoil.org 630-551-2334
8:30 AM - 9:15 AM Industry Sector Updates: Apartment / Multifamily Moderator: Gail Lissner, SRA, CRE
Roger Daniel
Managing Director, Integra Realty Resources
President, Daniel Management Group
Joe Smazal
Maxwell Jacobson
Senior Managing Partner, Interra Realty
Chicago Market Principal, S.R. Jacobson Development Corp.
John Przybyla Managing Director, Horvath & Tremblay
Mark Gross
Samantha Miller Senior Vice President – Mortgage Banker, KeyBank Real Estate Capital
National Account Executive, CSSI Services, LLC
• Investment and capital markets update. • Design, construction, and value add opportunities. • 2026 new development outlook. • Operations and management toolbox.
14 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Industry Sector Updates: Apartment / Multifamily
Gail Lissner, SRA, CRE Managing Director Integra Realty Resources glissner@irr.com Gail Lissner, CRE, SRA is Managing Director for Integra Realty Resources (IRR). Throughout her career, Ms. Lissner has focused on the housing/multi_family market, with a particular interest in condominium development, apartment development, and the condominium conversion/deconversion market. Ms. Lissner is involved in the IRR quarterly surveys of over 150,000 apartments units in the Chicago MSA. This information is used as a baseline for market studies and consulting assignments for new development throughout the region. In Gail’s consulting and valuation work for apartment and condominium developments, the scope of work ranges from site and building plan consultations at project inception to market and feasibility studies along with comprehensive appraisals. Her work includes both urban and suburban properties and also includes townhome and single family residential developments Ms. Lissner received her Bachelor of Arts Degree from Washington University. She has the SRA designation conferred by the Appraisal Institute and the CRE designation from the Counselors of Real Estate. Integra Realty Resources (IRR) is the largest independent commercial real estate valuation services firm in North America, covering more than 60 markets with nearly 600 employees throughout the United States, and the Caribbean.
Industry Sector Updates: Apartment / Multifamily
Joe Smazal Senior Managing Partner Interra Realty jsmazal@interrarealty.com I sell apartment buildings in Chicago. Current and prospective clients will find me to be honest and direct, and I’m proud of my reputation for putting my client’s interests before mine. In 2014, I joined Interra from a large, national firm. Interra’s platform is effective for my clients, and it’s been rewarding to help the firm grow and improve. I have personally sold over 250 properties, comprised of over 5,400 units, for a total consideration of over $1 billion and consistently rank among the most active multifamily brokers in Chicago. In addition to being a broker, I’m a devoted dad (Jack and Will), overachieving husband (Kate), proud Chicago resident (Lincoln Park), multifamily owner/operator (SmazApts.com), podcast host (“Real Estate, Chicago Style”), and homegrown Hawkeye (marketing and entrepreneurship).
Industry Sector Updates: Apartment / Multifamily
John Przybyla Managing Director Horvath & Tremblay jprzybyla@horvathtremblay.com John Przybyla is Managing Director of Horvath & Tremblay in Chicago specializing in the sale of multi-family and retail properties in the Chicago market as well as regionally and nationally. John has been in the commercial real estate industry since 1992 and has been an Agent, Broker, Managing Broker and Director with the firms of Sperry Van Ness (SVN), Marcus & Millichap, and now Horvath & Tremblay. While at these firms he has been involved in over a billion dollars in commercial property sales of multi-family buildings, retail, office, industrial, medical office, NNN single tenant, hotels, seniors housing and mobile home communities.
Industry Sector Updates: Apartment / Multifamily
Mark Gross National Account Executive CSSI Services, LLC mark.gross@cssiservices.com CSSI is the premiere cost segregation firm having completed tens of thousands of studies over the past 20+years. Additional services includes R&D Tax Studies (Research & Development), Section 179D Energy Tax Credits, Green zip tape, etc. Mark has provided cost segregation services for property owners nationwide since 2010. His projects include multi-family apartments, single tenant (NNN), industrial, retail, hotels, office, etc. His previous background is in upper management overseeing supply chain and operations for large manufacturers and a retail chain.
16 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
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Industry Sector Updates: Apartment / Multifamily
Samantha Miller Senior Vice President – Mortgage Banker KeyBank Real Estate Capital samantha_j_miller@keybank.com Samantha is senior vice president and mortgage banker at KeyBank Real Estate Capital, based in Chicago. She focuses on multifamily debt originations, new business development and relationship management for real estate owners, investors and developers. Prior to KeyBank she was a senior producer at Freddie Mac. She specializes in student housing, and manufactured housing. She is chair of mPact, the MBA’s emerging leaders board and is also actively involved in the Wisconsin Real Estate Alumni Association and Real Estate Financial Forum. She earned her BBA in Real Estate & Urban Land Economics and Marketing from University of Wisconsin Madison.
Industry Sector Updates: Apartment / Multifamily
Maxwell Jacobson Chicago Market Principal S.R. Jacobson Development Corp. mjacobson@srj.com As Chicago Market Principal at S.R. Jacobson Development, Maxwell leads land acquisition, underwriting, and capital partnerships. He oversees regional operations, including flagship communities like Orland Ridge, a 294-unit-single-family rental project. He also drives the firm’s expansion by sourcing new development opportunities across the Midwest. Maxwell’s background includes key involvement with projects like Montgomery Place and Village Place Apartments, as well as the disposition of over 600 lots from a large distressed asset portfolio. He holds a Master of Science in Real Estate from DePaul University, contributing a sophisticated financial perspective to the team’s strategy. He serves as a General Partner in five SJR developments, reinforcing his commitment to project outcomes, while his personal portfolio in retail and student housing provides a diverse outlook on market dynamics.
18 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
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Industry Sector Updates: Apartment / Multifamily
Roger Daniel President Daniel Management Group roger@danielmanagement.com Roger Daniel is the founder and President of Daniel Management Group, Inc. He is also President of DMG | Leasing (dmgleasing.com), the leasing division of DMG. In these capacities, Roger is responsible for the day-to-day management and leasing of a portfolio consisting of more than 3,000 units around the broader Midwest. In 2021, Roger co-founded DMG | Capital (dmgcapital.com), a real estate investment firm focused on sourcing, underwriting, and structuring multifamily real estate transactions. Prior to creating DMG, Roger held various positions in multifamily leasing, property management, acquisitions, and brokerage. Roger’s work history includes roles at The Habitat Company, Village Green Companies, Northwestern Mutual Real Estate, and others. Roger earned a Bachelor of Arts degree, with honors, from the University of Wisconsin. He is a licensed Real Estate Managing Broker, a member of the Chicagoland Apartment Association, an NBOA board member, a EUBA board member, and a member of the Chicago Association of Realtors
20 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Legal experience that brings clarity to complexity. Insightful legal counsel for real estate.
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8:30 AM - 9:15 AM Industry Sector Updates: Property Management Moderator: James A. Hochman
Jonathan Swindle
Partner, Schain Banks Kenny & Schwartz
President, Waveland Property Group, Inc.
Jeff Weinberg
Natalie Cico
President, Drexel Properties
SVP, Property Management, Newmark
Kirsten Bowersox
Zinnia Olsson
President, XR Advisors
Client Services, Confirmed Life Safety
Gary Shamasko President, Jamerson & Bauwens
• Management strategies to operate properties effectively and efficiently. • The importance of good management to maximize returns. • Best practices in maintenance, vendor management, cost control, and building marketing.
Industry Sector Updates: Property Management
James A. Hochman Partner Schain Banks Kenny & Schwartz jhochman@schainbanks.com As a Partner and licensed real estate broker at Arnstein & Lehr LLP, I represent many commercial real estate brokerage firms, court appointed receivers, landlords, tenants, and commercial estate investors. I assist in all phases of commercial and residential real estate i.e., real estate related litigation. In addition, I regularly represent real estate licensees in regulatory audits and license law complaints as defense counsel, and I represent court appointed receivers in mortgage foreclosures and other property related litigation in several counties in the Chicago area.
22 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Industry Sector Updates: Property Management
Jonathan Swindle President Waveland Property Group, Inc. jswindle@wavelandprop.com Experienced leader of Waveland Property Group, Chicago’s boutique asset management firm, focused on the best medical and financial facilities. Over 20 years of transactional work focused on leasing, negotiations, conflict resolution, property management and development.
Industry Sector Updates: Property Management
Jeff Weinberg President Drexel Properties jeff@drexelproperties.com Jeff Weinberg is founder and president of Drexel Properties, a real estate investment, development, and property management company. Founded in 2002, Jeff’s company presently manages over 1,000 units across the north side of Chicago and suburbs which includes both his own and third-party properties. With a disciplined approach to service, systems, and accounting, Jeff is responsible for the day-to-day management and leasing of the portfolio as well as the strategic vision and growth for the company. Jeff earned a BS in mathematics and computer science from the University of Illinois at Chicago and holds an MBA in finance and real estate from DePaul University. Jeff is a licensed Real Estate Managing Broker and member of the Chicago Association of Realtor. He is a founding member and co-president of the Northwest Side Building Coalition (chicagonsbc.com), and Executive Board member of the Neighborhood Building Owners Alliance (nboachicago.com). Representing over 75,000 units, both organizations provide advocacy and education for neighborhood property owners and housing providers throughout Chicago and Cook County. In civic matters, Jeff is involved with many philanthropic endeavors with a particular focus on youth mentoring.
Industry Sector Updates: Property Management
Natalie Cico SVP, Property Management Newmark natalie.cico@nmrk.com Natalie Cico serves as the Senior Vice President of Management Services and is responsible for Newmark’s property management, asset management, and receivership business lines in the Chicago region, collaborating closely with Newmark’s diverse range of real estate professionals, including local leasing, investment sales, and distressed asset experts. With over 26 years of experience and a diverse background in real estate and property management, Cico brings a strategic and valuable perspective to her clients. Her leadership in property management and deep expertise in working with property owners prioritize asset management and cross-functional solutions, resulting in best-in-class outcomes. Cico takes a broad and creative approach to property management, going beyond daily operations to uncover hidden value within each asset. Prior to joining Newmark, Cico held the position of Vice President of Property & Asset Management for VEREIT, Inc. In this role, she provided direct operational and financial oversight for a portfolio consisting of 255 assets, totaling 55 million square feet and valued at $3.5 billion. Leading a large team across the country, Cico implemented long-range real estate strategies and solutions to optimize profitability and streamline processes. Cico also held positions with Marcus & Millichap as a commercial real estate investment broker and with Jones Lang LaSalle America’s as the North district area manager.
Industry Sector Updates: Property Management
Gary Shamasko President Jamerson & Bauwens gshamasko@jbelectric.com Gary Shamasko is the President of Jamerson & Bauwens Electrical Contractors. He has a 42- year cross disciplined background in the electrical industry and is an adaptive and solutions-driven leader with experience in Integration, Controls, Construction and Service. Delivering decisive, focused leadership to our divisions, Gary provides a perspective needed to manage a diverse portfolio, while ensuring projects exceed customer expectations and maintain compliance.
24 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Ivy Room (12 EAST OHIO STREET CHICAGO, IL 60611) 1:00pm - 1:30pm Registration & Networking | 1:30pm - 6:00pm Program
Speaking and Sponsorship opportunities available Mark Menzies menzies@rejournals.com 312-933-8559
Ernie Abood eabood@rejournals.com 773-919-8799
Frank Biondo frank.biondo@rejournals.com 248-670-2691
Industry Sector Updates: Property Management
Kirsten Bowersox President XR Advisors kirsten@xroadsadvisors.com Kirsten joined Xroads Advisors (fka Crossroads Partners) in 2013 as Chief Operating Officer and is now a Principal as well, and is responsible for overseeing all operations of the Company. Since that time, the Company’s third-party management portfolio has grown 4-fold and has expanded to offer asset management, brokerage, and a la carte management services such as accounting services only. Kirsten has an extensive background in commercial real estate having worked in various capacities for different financial institutions and private equity firms over her 20+ year career prior to joining Crossroads during which time she administered the servicing, credit and workout of more than $2 billion in commercial real estate. She has worked on the administration of complex financing structures, as well as large construction loans, and developed specialized servicing platforms and policies and procedures as business needs warranted. Immediately before coming to Xroads, Kirsten was Vice President, Manager of Real Estate Dispositions for MB Financial Bank, where she directed the day-to-day operations of the Bank’s Legacy and Loss Share portfolios of Other Real Estate Owned.
Industry Sector Updates: Property Management
Zinnia Olsson Client Services Confirmed Life Safety zinnia@confirmedlifesafety.com Zinnia Olsson is a leader at Confirmed Life Safety, a life-safety documentation and compliance platform for commercial real estate that evolved from an operational need identified at Waveland Property Group. She has been instrumental in the company’s tenfold growth over the past year, leading platform implementation and managing key client relationships across eight states. Zinnia works closely with property managers and building engineers to reduce administrative burden and provide consistent oversight of high-liability life-safety requirements, with the platform supporting office, medical, industrial, educational, and surgical facilities.
26 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
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8:30 AM - 9:15 AM Industry Sector Updates: Economic Development Opportunities Moderator: Kostas Poulakidas
Kevin Kramer, CEcD
Shareholder, Greenberg Traurig LLP
Director of Economic Development, Village of Hoffman Estates
Alyson Grady Deputy Director, Office of Regional Economic Development, Illinois Department of Commerce & Economic Opportunity
Paulina San Millan SVP, Business Development, Illinois Economic Development Corporation.
Kevin Leighty, CEcD
Rick Calinski
Economic Development Director, Village of Oswego
Director of Public Affairs and Economic Development, NIPSCO
• Strategies for Attracting Businesses: Explore the strategies and best practices for attracting new businesses and developments to the region, including leveraging local strengths and providing incentives. • Success Stories: Share recent success stories of corporate relocations and expansions within the region, highlighting the factors that influenced these decisions. • Public-Private Collaboration: Discuss the importance of collaboration between developers, owners, brokers, and economic development agencies in driving regional growth.
28 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Industry Sector Updates: Economic Development Opportunities
Kostas Poulakidas Shareholder Greenberg Traurig LLP kostas.poulakidas@gtlaw.com Kostas Poulakidas focuses on project and public finance, providing legal and strategic guidance to clients involved in complex infrastructure and real estate projects, particularly those utilizing government financing and public-private partnerships. He advises on structuring transactions to maximize value through legal financing arrangements. Kostas has deep project finance experience, advising businesses from startups to Fortune 500 companies, as well as real estate developers, private equity funds, and investors on real estate development, infrastructure projects, public-private partnerships, tax increment financing, and leveraging federal, state, and local incentives. Additionally, with his experience in public finance, Kostas has played key roles in a wide range of projects involving municipal and state tax-exempt and taxable bonds. He has served as bond counsel, bank counsel, underwriter’s counsel, and issuer’s counsel, as well as handled advisory work on tax incentives and economic development structures.
Industry Sector Updates: Economic Development Opportunities
Kevin Kramer, CEcD Director of Economic Development Village of Hoffman Estates kevin.kramer@vohe.org Kevin Kramer is the Director of Economic Development for the Village of Hoffman Estates, Illinois in the northwest suburbs of Chicago. He’s worked in this position since 2013 after working as a planner and economic developer for Barrington, IL. He has facilitated more than $1 billion of development in Hoffman Estates from retail to data center, entertainment to Metroburbs, and industrial to multi-family. He helped found Next Level Northwest, a small business accelerator, and the Greater Chicagoland Advanced Manufacturing Partnership to build a workforce pipeline in the manufacturing industry. He graduated from the University of Illinois with a degree in Urban and Regional Planning. He serves on several committees including the Community Advancement Advisory Committee Chair for ICSC, Chair of the International Economic Development Council’s (IEDC) Excellence Awards Committee, is member of Lambda Alpha International, and is a part of the Chicago Metropolitan Agency for Planning’s Regional Economy Committee. Kevin is a Certified Economic Developer (CEcD). He also serves as a mentor to students through ICSC and IEDC. While he loves all things economic development, he also loves DIY projects around the house, hiking in the mountains, reconnecting with old friends, rough housing with the kids, and reading a book on the deck while enjoying a cold beer, fine bourbon, or sparkling water. Kevin lives in the Chicago suburbs with his wife and six children.
Industry Sector Updates: Economic Development Opportunities
Alyson Grady Deputy Director, Office of Regional Economic Development Illinois Department of Commerce & Economic Opportunity alyson.grady2@illinois.gov Aly Grady is the Deputy Director for the Department of Commerce and Economic Opportunity’s Regional Economic Development Team. With this position, Aly works with local governments, community partners, businesses, and other entities to serve the needs and promote economic development across the state of Illinois. Aly has been working in state government for over 25 years and brings her knowledge and experience into this role to further the mission of DCEO. That mission is to support and maintain a strong economic environment for those served – taxpayers, employers, workers, and communities – by actively recruiting and growing businesses, maintaining a 21st-century workforce, enhancing innovation, and brining jobs and investment to underserved communities throughout Illinois. Aly is a Central Illinois native having grown up in Mattoon and living for over 28 years in the Springfield area.
Industry Sector Updates: Economic Development Opportunities
Kevin Leighty, CEcD Economic Development Director Village of Oswego kleighty@oswegoil.org Kevin Leighty is the Economic Development Director for the Village of Oswego, Illinois located in the western suburbs of Chicago. Kevin has served in the position since May 2022 where he is responsible for strategically advancing economic development through attracting new investment and facilitating business expansion within the community. Prior to his time in Oswego, Kevin worked for the Village of Schaumburg as a key member of the Economic Development team for over 7 years. During his tenure, he served as a key ambassador to Schaumburg’s extensive business community comprised over 5,000 businesses, managed the Cook County Class 6 & 7 Property Tax Incentive program, directed the village’s Business Retention and Expansion (BRE) program, and helped market Schaumburg to prospective businesses and investors. Kevin holds Bachelor of Arts (B.A.) and Master of Public Administration (M.P.A.) degrees both from Northern Illinois University. He also obtained his Certified Economic Development (CEcD) credential from the International Economic Development Council (IEDC) of which he is also a member. In addition to IEDC, Kevin is also an active member of the International Council of Shopping Centers (ICSC), Illinois Economic Development Association (IEDA) and the Northern Illinois Commercial Association of REALTORS (NICAR).
30 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Chicago commercial real estate lending
ational p
00+
oyees
d offices tes
founding
2B
ets
B
00+
yees
2B
ets
3,700+
230+
Employees
240+
Branches and offices across 6 states
ATMs
Premium client service and financial expertise 230+
Branches and offices across 6 states
240+ in Assets
$48.8B
Deposits over
$50.1B 1927
3,700+
Employees Deposits over
$50.1B
230+
Branches and offices across 6 states
240+ ATMs
Deposits over $50.1 billion Proudly serving Chicago for 50 years $62B
Loans over
$48.8B
Deposits over
$50.1B
230+ branches & offices across 6 states
the year of our founding
230+
Deposits over
Loans over
$48.8B $50.1B Loans over $48.8 billion
Valley National Bancorp Loans over NASDAQ
ATMs
$62 billion in assets
ATMs
$62B
240+
in Assets
240+
NASDAQ: VLY – Valley National Bancorp
Branches and offices across 6 states
Valley National Bancorp
ATMs
3,700+ Employees
230+
Branches and offices
240+ ATMs
across 6 states NASDAQ Property types Apartment, industrial, and credit anchored large shopping centers. $48.8B $50.1B Loans over
Deposits over
Loan types Deposits over Loans over 1927 $62B loans. Fixed Permanent or bridge or floating rate loans $48.8B $50.1B the year of our founding in Assets up to 3-7 years. Loan size $10,000,000 to $30,000,0000+
Geography Initial deal will be within a 300-mile radius from Chicago MSA. Treasury solutions Our Treasury Solutions are designed to help manage your cash flow, maximize the availability of funds, and meet your commercial banking needs. Other product sets* Syndications, Capital Call lines to support CRE funds/ sponsors, New Market Tax Credit (NMTC), Derivatives, Purchase Cards, Private Banking, Concierge, Deposit Products, Title Insurance, Insurance Premium Finance & Fund Banking.
Term/Amortization Up to 7-year term and 30-year amortization; subject to underwriting criteria and property types. Indices One Month Term SOFR or US Treasuries. Rates can be locked via Swaps. Loan to value 75% maximum; subject to underwriting criteria. Costs 75 bps of the loan amount + 3rd party costs (appraisal, environmental, legal). Other closing costs may apply.
Let’s connect Jerry Lumpkins, SVP Midwest CRE Division Head 312-371-5039 Glumpkins@valley.com
*Certain products and services are provided by Valley National Bank’s affiliates or subsidiaries. Loan products subject to credit approval. ©2025 Valley National Bank. Member FDIC. Equal Opportunity Lender. All Rights Reserved. VLY10675
Industry Sector Updates: Economic Development Opportunities
Paulina San Millan SVP, Business Development Illinois Economic Development Corporation. paulina.sanmillan@illinoisedc.org Paulina San Millan is the Senior Vice President of Business Development for the Illinois Economic Development Corporation. Paulina leads the business development team and oversees and develops strategies on business attraction. Paulina has 17 years of economic development experience and has focused the last 12 years on business recruitment and attraction. She has worked for the public, private and non-forprofit sectors. She previously worked as a site selection consultant for Newmark, where she advised corporate decision-makers on location strategy. She has also worked at the state of New Mexico’s business recruitment and marketing organization for five years in their business development and research department. Prior to that, Paulina was contracted by the Small Business Development Center to assist companies become export-ready and increase exports. She also worked on commercializing technology at the UNM Rainforest Innovations and at the City of Albuquerque in their economic development department. Paulina earned her MBA from the Anderson School of Management focused on marketing. She also holds a BA degree in economics and a minor in business from the University of New Mexico. She lives in Chicago with her husband and daughter.
Industry Sector Updates: Economic Development Opportunities
Rick Calinski Director of Public Affairs and Economic Development NIPSCO rcalinski@nisource.com Rick Calinski serves as Director of Public Affairs and Economic Development for NIPSCO. In this position, Calinski leads a team that supports external affairs with community, government, business and media leaders throughout NIPSCO’s service territory. As part of this role, he oversees corporate citizenship for the company. Rick’s team also leads economic development efforts for the company. This includes partnering with the state and local governments, real estate and economic development professionals to help attract business investment and growth within the NIPSCO service territory. Rick started with NIPSCO in 2011 as Public Affairs Manager. In 2019 he was promoted to Director of Public Affairs. Prior to joining NIPSCO, he worked in a variety of positions for the City of Hammond including Executive Director of Planning and Economic Development and also served as Chief of Staff to the mayor. In this position, Calinski managed the day-to-day activities, strategic planning, budget and project management for the City of Hammond. Rick graduated from Purdue University with a Bachelor of Science degree in Business Management and a minor in Human Resources. He also received a Master’s Degree in Business Administration (MBA) from Purdue University Northwest.
32 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
PROVEN. PROACTIVE. RESPONSIVE. RELIABLE. C omm erci al M ana g emen t
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CELEBRATING 20 YEARS! www.wavelandprop.com
630-472-9800
9:30 AM - 10:30 AM Navigating Chicago CRE: What’s Moving the Market Sectors Moderator: Marcia K. Owens
Tom Leary
Partner, Honigman LLP
Vice President, ARCO/Murray
Christy Domin
Noel Liston
Senior Vice President, Riverside Investment & Development
Managing Broker / Founder, Core Industrial Realty
Carrie Szarzynski Senior Managing Director & Head of Management Services, Hiffman National
Paul O’Connor Partner, Hamilton Partners
Steven D. Weinstock Senior Managing Director | Market Leader, Marcus & Millichap
• Economic drivers impacting Chicago’s CRE performance • Sector-by-sector update: Office, retail, industrial, multifamily, finance, and construction. • Lessons from past cycles and strategies for today’s challenges • Investment opportunities in emerging trends and sectors
34 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Navigating Chicago CRE: What’s Moving the Market Sectors
Marcia K. Owens Partner Honigman LLP mowens@honigman.com Marcia Owens is a partner who represents clients on a wide-range of real estate matters, from finance and workouts to leasing and development. Marcia has experience in retail, office, industrial, and mixed use transactions, with a particular concentration in retail development and leasing and the restructuring and workout of loans and distressed assets. Marcia has represented clients in numerous transactions involving acquisitions and dispositions (including vacant, improved or income-producing assets), complex debt and equity financing, retail leasing (including the negotiation of leases with national department stores, big box retailers, junior anchors, grocery stores and national small shop tenants), and complex development and reciprocal easement agreements. Marcia not only has the technical experience necessary for a sophisticated real estate transaction, but prides herself on partnering with her clients to implement the strategies necessary to accomplish the client’s goal and get a deal done.
Navigating Chicago CRE: What’s Moving the Market Sectors
Paul O’Connor Partner Hamilton Partners poconnor@hpre.com Paul joined Hamilton Partners shortly after its creation in 1987. He started his commercial real estate career with Trammel Crow in 1984. When Allan Hamilton left Trammel Crow to form his own firm, Paul knew he wanted to pursue his career with Allan and his partners. From 1987 to 2007, Paul worked in the East West Corridor office of Hamilton Partners doing development, leasing and management of the office portfolio there. During this period, the East West Corridor Office planned, developed, leased and managed over 2 million square feet of office space. In 2007, Paul assumed responsibility for leasing Hamilton Partner’s growing portfolio of downtown office properties. By 2008, this portfolio had grown to just over 1.1 million square feet. In 2015 upon sale of Hamilton Partners’ downtown properties, Paul has been involved in all areas of acquisition, re-positioning, and leasing.
Navigating Chicago CRE: What’s Moving the Market Sectors
Tom Leary Vice President ARCO/Murray tleary@arcomurray.com Tom Leary is a Vice President and Principal at ARCO/Murray, a Top 10 U.S. DesignBuilder (ENR). He leads ARCO’s Industrial Tenant Solutions team out of Chicago. Tom uses his engineering background to implement creative solutions throughout the design and construction process that will generate value. He integrates seamlessly with ARCO’s groundup industrial team to offer local and national clients a full turnkey package. He oversees the project management team on everything from estimating and due diligence to design, QC, construction, move-in and warranty. Tom is an active member of AIRE and sponsors their Developing Leaders program, hosting several networking events and programs throughout the year. He was a RE Journals 2023 Emerging Leader of the Year finalist and graduated from Purdue University with a degree in Mechanical Engineering.
Navigating Chicago CRE: What’s Moving the Market Sectors
Steven D. Weinstock Senior Managing Director | Market Leader Marcus & Millichap steven.weinstock@marcusmillichap.com Steven Weinstock is Senior Managing Director | Market Leader of Marcus & Millichap’s Chicago Oak Brook office. He also serves as the National Director of the Self-Storage Division as well as National Director of the Land & Redevelopment Division. Steven began his commercial real estate career in the 1980’s leasing office properties in metro Detroit. Eventually, he opened his own brokerage and property management company and sold it to Trammell Crow Company in 1994. He joined Marcus & Millichap’s Detroit office in April 2001 becoming Vice President of Investments, Director of the National Multi Housing Group, and Member of the National Self-Storage Group. Mr. Weinstock is the recipient of multiple national achievement and sales recognition awards. Steven joined the management team in 2008 when he served as Sales Manager of the Columbus and Cincinnati offices. In 2009, Steven was named Regional Manager of Chicago Oak Brook ultimately earning the title of Senior Vice President in 2023. He became National Director of the Land & Redevelopment Division in 2016 and the SelfStorage Division in 2020. Steven received a Bachelor of Arts in Psychology from the University of Michigan and a Juris Doctor degree from Wayne State University Law School.
36 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Jume 4, 2026
4:00PM COCKTAIL HOUR 6:00PM DINNER & AWARDS PROGRAM
HYATT REGENCY O’HARE CHICAGO 9300 W BRYN MAWR AVE, ROSEMONT, IL Nominate and Submit Your Projects, People and Company Today!
SUBMISSION DEADLINE: January 30, 2026
Navigating Chicago CRE: What’s Moving the Market Sectors
Noel Liston Managing Broker / Founder Core Industrial Realty nliston@coreindrealty.com Mr. Liston began his distinguished career in industrial real estate in 1995 and founded Core Industrial Realty in 2022. Mr. Liston has developed a superior brokerage approach that utilizes his extensive knowledge of the transactional process as well his knowledge of each of his active submarkets. Understanding the limitations of data only, Mr. Liston provides invaluable insight to each of his clients with qualitative analysis tailored to each project. His areas of concentration include landlord and tenant representation, investment sales, and sale/leasebacks, build-to-suit transactions and vacant land dispositions. In addition, Mr. Liston offers thorough investment services by assisting buyers and sellers in the analysis of potential investment sales and acquisitions. Throughout his 30-year distinguished career, Mr. Liston has sold or leased in excess of $3 billion of industrial properties.
Navigating Chicago CRE: What’s Moving the Market Sectors
Christy Domin Senior Vice President Riverside Investment & Development cdomin@riversideid.com Christy joined Riverside as Senior Vice President of Leasing in 2018. She focuses on providing comprehensive leasing and marketing services with an emphasis on creating and implementing marketing strategies for Riverside’s portfolio of office properties. Her extensive leasing experience ranges from the lease-up of new office developments to the repositioning and re-leasing of older assets for diverse owners of real estate. Prior to Riverside, Christy’s tenure included leasing at CBRE, Colliers International, Transwestern, and Lincoln Property Company, executing day-to-day leasing for their various projects. Christy’s work has produced favorable results for clients and top honors in the industry – Greater Chicago Food Depository’s Office Property Representative of the Year award in 2016, Downtown Office Broker Transaction of the Year for NAIOP (2015, 2017), and the Greater Chicago Food Depository (2018). Christy received her BA from the University of Wisconsin – Madison.
38 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Partner with Chicago’s Market Experts Marcus & Millichap brings together in-depth market knowledge, the industry’s leading brokerage platform, and exclusive access to inventory to deliver outstanding results. With specialization in over 12 property types, we guide our clients to the best opportunities to match their unique investment needs. Our financing division, Marcus & Millichap Capital Corporation, provides tailored financial solutions to help our clients build and preserve their real estate wealth.
144 91
Investment Sales Transactions Closed
Investment Sales Agents & Loan Originators
$628M 27
In Closed Volume
Financing Deals with $118 Million in Volume
T12: Chicago MSA data from October 1, 2024 through September 30, 2025
Explore exclusive opportunities with Chicago’s top commercial real estate experts. STEVEN WEINSTOCK Senior Managing Director, Market Leader 630-570-2250 Steven.Weinstock@MarcusMillichap.com
JOE POWERS Managing Director, Market Leader 312-327-5460 Joe.Powers@MarcusMillichap.com
Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2026 Marcus & Millichap. All Rights Reserved.
Navigating Chicago CRE: What’s Moving the Market Sectors
Carrie Szarzynski Senior Managing Director & Head of Management Services Hiffman National cszarzynski@hiffman.com Carrie Szarzynski, Senior Managing Director & Head of Management Services, provides leadership and oversight to the management department and teams, pursues new business and maintains relationships with institutional and private clients. An insightful and experienced commercial real estate veteran, Carrie excels at building effective teams, executing consistent and effective best practices across Hiffman’s management portfolio, and investigating and implementing new technologies and procedures to achieve premium results for clients. Carrie’s business prowess has been recognized through several honors during her tenure at Hiffman. She was awarded the Daily Herald Business Ledger’s Influential Women in Business Award as well as the Connect CRE Women in Real Estate Award for the Chicago and Midwest Region. She was inducted into the commercial real estate Hall of Fame by Midwest RE Journals in 2021. Carrie’s previous facility and property management experience includes roles with JLL, Equity Office Properties, GE Capital, US Equities Asset Management, Inc. and Douglas Elliman-Beitler. Her more than 30-year career in the commercial real estate industry includes experience managing teams, facilitating dayto-day property operations, overseeing capital planning, management and construction projects, and assisting with marketing and leasing efforts.
40 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
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GENERAL CONTRACTOR IN CHICAGO The Real Deal, 2025
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weoneil.com Arizona | California | Illinois | Colorado | Tennessee | Texas
weoneil.com
10:30 AM - 11:30 AM Development Market Update Moderator: Geoffrey Kasselman
Cal Kropke
Co-Founder & CEO, Evoke Partners
Vice President, Trammell Crow Company
Keith Lord
Richard Davey
President and Managing Partner, The Lord Companies
Vice President of Operations, W.E. O’Neil
Steve Schnur Chief Operating Officer, CRG
• Get the inside track on Chicago’s dynamic development scene as leading developers and industry experts share critical updates on projects, pipelines, and market trends shaping the metro area in 2026. • Commercial Property Trends: Examine current trends in commercial property types, such as the shift towards mixed-use developments and the growing demand for flexible workspaces. • Public-Private Partnerships: Explore the role of collaboration between public entities and private developers in driving successful development projects. • Development Challenges: Identify the key challenges developers face today, such as rising construction costs, supply chain issues, and labor shortages, and discuss potential solutions. • Future Development Opportunities: Discuss upcoming development opportunities and areas in Chicago with potential for significant growth and investment.
42 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Development Market Update
Geoffrey Kasselman, SIOR, LEED AP Co-Founder & CEO Evoke Partners geoff@evokepartners.ai Geoffrey Kasselman, SIOR, LEED AP, is Co-Founder & CEO of Evoke Partners, a forward development and investment platform that combines real estate with energy and disruptive technology. He is also the Founder & CEO of Op2mize Energy, a strategic energy procurement company, advocating for clients across North America. Previously, Geoff was Partner & SVP, Workplace Strategy for CRG, a Clayco company, and he was Executive Managing Director at Newmark where he led their North American Industrial Practice and oversaw their O’Hare office. Geoff was also the 2016-2017 SIOR Global President. Additionally, Geoff actively engages in PropTech angel investing and mentoring. He sits on various Boards including RealNex; Otso; BEI.re; InteliGlas; and Smart City Works Venture Studio; and previously served as the founding Midwest Regional Chair for FIBREE (international blockchain organization). He is also a highly acclaimed, innovation-minded business futurist and accomplished global speaker on topics such as AI, digital disruption, exponential technologies, future-proofing, and advanced energy strategies. He has delivered over 100 Keynote speeches in nine different countries around the world. Over the course of his distinguished career, Geoff has been highly decorated with many notable awards and distinctions.
Development Market Update
Keith Lord President and Managing Partner The Lord Companies keith@lordcompanies.com Since 1986, Keith Lord has served as President and General Partner of The Lord Companies, L.L.C., a diversified real estate corporation with consulting, brokerage, and development divisions specializing in urban infill and adaptive re-use brokerage, design, and development. The Companies’ clients range from developers, Fortune 500 corporations, banks, law firms, private individuals, and the City of Chicago. In 2004, Keith Lord, along with Scott Fithian, were named the City of Chicago’s “Top Retail Leasing Owner’s Representation Brokers” by the Commercial Forum Awards. In 2012 he received the Top Producer Gold Sales Award from Chicago Commercial Forum for investment sales. In 2009, Mr. Lord was a founding partner of Lord Financial Advisors, LLC. He is currently the President and Manager. Lord Financial Advisors provides distressed asset consulting and disposition services to financial institutions including banks, credit unions, insurance companies, private equity firms, and state banking associations. The principals of Lord Financial Advisors have over 80 years of combined experience in asset sales, real estate development, lending, and asset management.
Development Market Update
Cal Kropke Vice President Trammell Crow Company ckropke@trammellcrow.com Cal Kropke is a Vice President with Trammell Crow Company’s Midwest office in Chicago. In this role, Cal is responsible for sourcing and overseeing new industrial development opportunities throughout the Midwest. Prior to TCC, Cal worked for JLL, where he quickly progressed from Analyst to Associate to a Director of Industrial Capital Markets. His responsibilities included underwriting, due diligence, marketing, and client management, and he was involved in more than $2.3 billion in closed industrial transactions. Prior to JLL, he also worked in Commercial Lending at Wintrust Financial Corporation and began his real estate career as an intern with TCC in Chicago. Cal earned a Bachelor of Science in Finance from Indiana University.
Development Market Update
Richard Davey Vice President of Operations W.E. O’Neil rdavey@weoneil.com Richard Davey brings nearly 30 years of experience in the commercial construction industry and has spent his entire career with W.E. O’Neil, working in both the Chicago and Los Angeles offices. A proven leader, Richard oversees operations for the Chicago, Texas, and Tennessee regions while driving company strategy and providing executive-level oversight on numerous projects. His expertise spans complex, large-scale developments across multiple industries nationwide. Richard has managed a wide range of delivery methods and building types, including major Chicagoland projects such as the recently completed, awardwinning Wind Creek Chicago Southland Hotel & Casino. He also leads the firm’s Chicagobased self-perform group, which focuses primarily on carpentry, demolition, and concrete. Richard holds a Bachelor of Science in Engineering from the University of Illinois at UrbanaChampaign and an MBA from DePaul University’s Kellstadt Graduate School of Business.
44 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Development Market Update
Steve Schnur Chief Operating Officer CRG schnurs@realcrg.com Steve Schnur joined CRG as Chief Operating Officer in April 2023. In his role, Schnur helps guide the firm’s strategic growth and continued expansion of its real estate development and investment activities across North America. As a key member of the Executive Leadership team, Schnur is at the helm of leveraging CRG’s impressive legacy – one that has seen the development of over $14 billion in assets, 12,500 acres, and 220 million square feet since 1993. He has also been pivotal in driving the firm’s vision of delivering exceptional industrial, multifamily, student housing, and mixed-use projects nationwide. Steve previously served as the Executive Vice President and Chief Operating Officer at Duke Realty. During his nearly 20-year career with Duke Realty, he was heavily involved in the development, leasing, and property management operations of the firm’s 160 million-square-foot logistics portfolio across 19 major markets. Schnur was also responsible for identifying and pursuing new development opportunities, paving the way for over $5 billion in industrial development. In addition to being recognized as an industry leader, Schnur is well-known for going beyond the status quo. Schnur serves on the board of the American Red Cross Indiana Chapter, participates in the Northwestern Athletes’ Mentoring Program, and is a member of SIOR and NAIOP.
11:30 AM - 12:30 PM Capital Markets: New Year, New Opportunities Moderator: Todd Phillips
Jerry Lumpkins
CEO, Legacy Property Trust
Senior Vice President-Midwest CRE Division Head, Valley National Bank
Kristina Lynn Senior Director, Housing & Alternative Investments, Nuveen Real Estate
Zach Yarnoff Managing Director, Cushman & Wakefield
Melissa Furman
Annamarie Bjorklund
Melissa Furman Asset Management, PGIM
Senior Vice President, Debt & Equity, Northmarq
• How are capital markets shaping real estate investment strategies in 2026. Get analysis of the effects of fluctuating interest rates, investor sentiment, and cost management approaches on project financing. • Interest rate update and its impact on projects • Implement cost management and refinancing strategies • Gauge investor sentiment amid ongoing market volatility • Compare sector-specific capital challenges and opportunities • Adapt investment strategies to shifting economic conditions • Anticipate long-term capital markets lending trends
46 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Capital Markets: New Year, New Opportunities
Todd Phillips CEO Legacy Property Trust toddphillipsmail@gmail.com “I make the tax code work for you—not against you.” Real estate investors and business owners overpay millions in taxes every year. I help them keep more of their wealth using advanced tax strategies. Founder of Smarter About Taxes – A free resource to demystify tax planning. CEO of Legacy Property Trust - We built a REIT to provide an off-ramp for low basis properties. CEO of Cornerstone Tax Consultants – Where we turn tax strategy into real savings. Author & Speaker – Breaking down complex tax strategies for investors. YouTube @ SmarterAboutTaxes – Where investors and business owners learn to cut their tax bill. I don’t just teach tax strategy—I help implement it. My clients build a sound path to liquidity, protect their wealth, and legally pay the least amount of tax possible. --> Want to stop overpaying? Start here: SmarterAboutTaxes.com
Capital Markets: New Year, New Opportunities
Kristina Lynn Senior Director, Housing & Alternative Investments Nuveen Real Estate kristina.lynn@nuveen.com Kristina Lynn is a Senior Director, Housing Transactions at Nuveen Real Estate. Based in Chicago, she is responsible for the acquisition and disposition of multifamily assets in the Carolinas, Mid-Atlantic and Northeast. She also heads up Nuveen’s student housing platform. Prior to joining the firm in 2019, Kristina was Vice President, Acquisitions with Redwood Capital Group, a private real estate company based in Chicago, and active throughout the Carolinas, Atlanta, and Florida. During her tenure at Redwood Capital Group, she was instrumental in transactions totaling 3,807 units representing $488 million in multifamily assets from 2014 through 2019. Prior to Redwood Capital Group, Kristina was on the acquisitions team with Henderson Global Investors/TIAA-CREF from 2005 through 2014, which is now Nuveen Real Estate. Throughout her career, Kristina has been directly involved in over $5 billion in acquisitions and dispositions across numerous markets, with a concentration on the East Coast. Kristina graduated with a Bachelor of Business degree in Real Estate from the University of Wisconsin – Madison and a Master of Business in Real Estate and Finance from the Kellogg School of Management at Northwestern University.
Capital Markets: New Year, New Opportunities
Jerry Lumpkins Senior Vice President-Midwest CRE Division Head Valley National Bank glumpkins@valley.com Jerry Lumpkins received his degrees in Political Science and History from Rockford University and his MBA from the University of Phoenix-San Diego. After serving as a commissioned officer in the U.S. Marine Corps for over five years, Lumpkins began his commercial banking career in Southern California. Lumpkins has been in commercial banking for over 25-years and specializes in commercial real estate and affordable housing. Currently, Jerry is a Senior Vice President and Midwest CRE Division Head for Valley Bank and solely focuses on commercial investment real estate transactions. Products include multifamily, retail, office, and industrial properties throughout the Midwest. Jerry was recently inducted into the Real Estate Journal’s 2020 Midwest Commercial Real Estate Hall of Fame. He was recognized by Crain’s Chicago as one of the most notable minorities in commercial banking in 2021 and recognized by Crain’s Chicago as one of the 2021 notable nonprofit board leaders.
Capital Markets: New Year, New Opportunities
Zach Yarnoff Managing Director Cushman & Wakefield zach.yarnoff@cushwake.com Zach Yarnoff is a Managing Director with Cushman & Wakefield’s Equity, Debt & Structured Finance team. Based in Chicago, Zach helps lead the firm’s debt capital markets business across the Midwest. With extensive experience across the capital stack—including first mortgages, B-notes, mezzanine financing, and preferred equity—Zach leverages over 15 years of real estate and capital markets expertise to source transactions and create value for his clients. He has closed over $12 billion in financings on behalf of public and private institutional investors involving many of the country’s most prominent assets. Prior to joining Cushman & Wakefield, Zach held senior positions at Eastdil Secured and KPMG LLP. A native Chicagoan, Zach lives in the northern Chicago suburbs with his wife and two children.
48 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards
Capital Markets: New Year, New Opportunities
Annamarie Bjorklund Senior Vice President, Debt & Equity Northmarq abjorklund@northmarq.com Annamarie Bjorklund (AB) is Senior Vice President of Equity and Debt at Northmarq. She joins Northmarq as part of the National Equity Advisory team along with Joel Heikenfeld and Charlie Rimkus. AB focuses on equity capitalization for developments, acquisitions and special situations for commercial real estate investments across the US. She works extensively with sponsors and equity providers including private equity funds, family offices, pension fund advisors, life companies and international equity groups looking to invest in US real estate. Prior to joining Northmarq, AB served as associate director of acquisitions at Marquette Companies where she lead the firms acquisitions and fundraising efforts for multifamily investments in the sunbelt region. AB also completed all underwriting, analysis and closing for Marquette’s development vertical in Chicago, Nashville and Houston. Prior to Marquette, AB spent four years at Origin Investments, a Chicago-based private equity fund, where she evaluated acquisitions, development, opportunity zone and debt opportunities. AB is the vice president of membership for REFF (Real Estate Finance Forum), Chicago’s leading organization for women in commercial real estate. She attended the University of Wisconsin-Madison and holds degrees in real estate & urban land economics and Spanish.
Capital Markets: New Year, New Opportunities
Melissa Furman Melissa Furman Asset Management PGIM melissa.furman@pgim.com Melissa Furman is a Senior Investment Associate on the Equity Multifamily Asset Management team at PGIM Real Estate, where Melissa oversees assets across the central U.S., including major markets such as Chicago, Minneapolis, Dallas, and Houston. In this role, Melissa is responsible for day-to-day asset management, strategic planning, and leading the disposition process. With 10 years of experience at PGIM Real Estate, Melissa has managed a diverse range of product types, including office, retail, industrial, and selfstorage, and has worked on developments, lease-ups, and repositioning strategies across various East Coast markets. Melissa spent eight years in New York City before relocating to Chicago two years ago, bringing deep expertise in both established and emerging markets. Melissa earned a BBA in Real Estate & Urban Land Economics from the University of Wisconsin–Madison.
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50 • Submit Your Nominations Today • 2026 IREJ Commercial Real Estate Awards • June 4, 2026 • www.rejournals.com/REawards