The challenges of the global marketplace, the worldwide need for affordable housing and artificial intelligence were just three of the topics explored during the 13th annual invitation-only Real Estate Impact Conference, co-hosted by the University of Miami Patti and Allan Herbert Business, the School of Architecture, and the School of Law.
More than 700 attendees, including more than 100 University of Miami students, packed the grand ballroom of the Donna E. Shalala Student Center to hear lively talks by eminent leaders in real estate and finance on the conference theme of “What does the future hold?”
“The way we are investing is changing: more agility, more liquidity, optionality,” said Rana Ghorayeb, executive vice-president and head of real estate, CDPQ/Ivanhoé Cambridge, during a conversation moderated by Alfonso Munk, managing partner, global co-head, investment management. “We have to be strategic.”
Speaking to the panel’s theme of “Global Investment Insights,” Ghorayeb emphasized the importance of teamwork. “Alignment is the most important thing,” said Ghorayeb, who is responsible for the real estate strategy and investments of a firm with more than $77 billion in assets. “We have to have the same vision on what we want to do with an asset.”
As for the future, she pointed to “data centers—the new buzzword.” Of artificial intelligence in general, Ghorayeb said, “I’m mesmerized by it, but it scares me. I can’t see where it’s going.”
The second panel of the afternoon titled “What Does the Future Hold for Cities,” was moderated by Joe Furst, the founder and managing principal of Place Projects and a graduate of the University of Miami Law School who worked with Tony Goldman, on the development of Miami’s Wynwood Art District.
Furst introduced Andy Gloor, CEO of Sterling Bay, who highlighted the importance of authenticity in urban development, pointing to Chicago’s Fulton Market district. While the area has attracted corporate headquarters, tech startups, and retail, he noted a slowdown in the “cool city” movement.
“To lure young employees…,” Gloor said, “we have to get some of these high-value companies going into cities, and they’re just not doing it right now.”
He described the target demographic as “a lot of our younger people who are never going to cook a meal or drive a car. We cater to them.”
Joshua Sirefman, CEO of Michigan Central, added that the walkable, 15-minute city model remains in demand. “People want to live that way,” he said.
In the third panel of the day, “On the Domestic Outlook,” Lauren Hochfelder, co-chief executive officer of Morgan Stanley Real Estate Investing, predicted that 2025 would see the beginning of the recovery from the post-Covid downturn. “I feel really good about where we are, three years into the real estate correction,” she said.
Hochfelder, in a conversation moderated by Jay Mantz, president of Rialto Capital Management, also highlighted data centers as an area of concentration.
“The demand side feels amazing,” she said. “But there are real risks to be mindful of. How to invest in AI? The only thing people talk about is data centers.”
Between panels, students part of the university’s Real Estate Research Initiative presented the results of a commercial real estate sentiment survey that indicated strong demand in the year ahead for industrial, multi-family, retail and hospitality space; showed a clear consensus on the need for more public transportation; and found an 88 percent majority of those surveyed believe immigration has a positive effect on South Florida.
For students and alumni, the forum offered networking options throughout the day.
“The biggest impact for me was seeing people who are in the field, actually doing it, and getting to shake their hands and network with them,” said Ivo Rondinoni, who is scheduled to complete the Master of Real Estate Development + Urbanism program this spring. “I have been to other conferences, but this one is outstanding because of the networking opportunities it offers.”
Josvianny Rosa Alvarado, B.B.A, Real Estate ’23, also praised the opportunities to meet with industry leaders while picking up insights on market trends and investment strategies.
“But what truly set this experience apart was the ability to connect with fellow Canes, the powerful network of alumni, and the dedicated supporters of the real estate programs at Miami Herbert Business School,” added Alvarado. “The energy in the room was unmatched.”
At day’s end, Andrea Heuson, finance professor and academic director of real estate programs at Miami Herbert, called the conference a resounding triumph, made possible through the support of more than 80 sponsors, including presenting sponsors, Douglas Elliman Real Estate, the Kislak Family Foundation, and Witkoff.
Miami Herbert Business School and the School of Architecture both offer master's programs in real estate. Miami Herbert’s Accelerated MBA in Real Estate features a guaranteed paid internship and boasts a 100% job placement rate after graduation. Meanwhile, the School of Architecture offers the Master of Real Estate Development + Urbanism, a one-year interdisciplinary graduate program that combines the strengths of the University of Miami’s Schools of Architecture, Business Administration, and Law to create a program that blends the fundamentals of real estate development with livable community planning and design.
