Deloitte’s 2017 Real Estate Industry UpdateOptimizing opportunity in an ever-changing environment Phoenix, AZSeptember 26, 2017

Welcome to Deloitte’s 2017 Real Estate Industry UpdateThe pace of disruption in our industry continues to increase, influenced by powerful forces including ongoing regulatory change, rapid advancement in technologies, workforce evolution, demographic shifts, and the dynamic influence of global events. Never has it been more important to challenge the way we think about and do business. While some of the problems the pace of change can create are daunting, the opportunities ahead are great.

In our preparation for this year’s Real Estate & Construction Update—which we are again hosting in 12 cities across the United States—we have been mindful of the challenges and opportunities these rapidly changing times can present. We hope the agenda of topics and speakers that we’ve assembled will better prepare you for successfully managing what lies ahead.

Thank you for attending our event. We appreciate your active participation in what promises to be a day of meaningful insights and discussions.

Warm regards,

Jim BerryUS Real Estate & Construction LeaderDeloitte & Touche LLP+1 214 840 7360jiberry@deloitte.com

Robert T. O’BrienGlobal Real Estate & Construction LeaderDeloitte & Touche LLP+1 312 486 2717 robrien@deloitte.com

AgendaTuesday, September 26

8:00–8:30 a.m. | Breakfast and registration8:30–9:35 a.m. | Executive real estate panel 9:35–10:25 a.m. | Tax update 10:25–10:40 a.m. | Break10:40–11:30 a.m. | Accounting and regulatory update11:30–12:05 p.m. | Technology in construction12:05 p.m. | Closing remarks

Panelists

Gavin B. Brandon has served as VEREIT’s chief accounting officer since October 28, 2014. He joined VEREIT—a full-service real estate operating company based in Phoenix—after its merger with Cole Real Estate Investments Inc. Prior to holding this position, Gavin served as the company's chief financial officer and treasurer, Managed Office and Industrial REITs, Private Capital Markets. Before joining VEREIT, Gavin worked as the principal accounting officer of Cole Corporate Income Trust Inc. and Cole Corporate Income Advisors LLC. Gavin previously spent nine years working with Deloitte & Touche LLP, most recently as a senior manager.

Gavin B. BrandonChief Accounting Officer VEREIT

Britt Chapman has served as the chief financial officer of OfferPad Inc.—an innovative tech-enabled real estate company based in Gilbert, Arizona—since January 2016. Prior to taking on his current role, Britt worked as Elevation Solar’s vice president of strategy and business development. Before joining Elevation, he held investment banking associate positions for both Wells Fargo Securities and Morgan Stanley Investment Management. Prior to moving into investment banking in 2008, Britt worked at Deloitte & Touche LLP for three years, most recently in financial advisory services as a senior analyst specializing in business valuations.

Britt ChapmanChief Financial OfficerOfferPad Inc.

Jim leads the US Real Estate & Construction (RE&C) sector for Deloitte. Prior to assuming the US RE&C sector leader role, he served as the head of Deloitte’s Audit practice for the RE&C sector. During his more than 30 years of experience Jim has worked with public and private companies across many segments of the RE&C sector including REITs, construction, and private equity companies. Jim has extensive experience in initial public offerings, private placements, and SEC filings, as well as advising clients in all aspects of mergers, acquisitions, divestitures, and due diligence activities.

Jim is a frequent speaker and instructor on industry and other technical subject matters at the national level with Deloitte. Living in Dallas, Jim has been heavily engaged in several real estate and community organizations including The Real Estate Council and United Way of Metropolitan Dallas.Jim Berry

Partner and Vice Chairman, US Real Estate & Construction Leader  Deloitte & Touche LLPjiberry@deloitte.com

Jordan Rose is the founder of Rose Law Group PC, the largest woman-owned law firm in Arizona history. Rose Law Group is a full-service business and real estate law firm whose clients include private and publicly held corporations, entrepreneurs, elected officials, developers, homebuilders, renewable energy companies, engineers, architects, property owners, farmers, citizen groups, non-profit organizations, and private homeowners. It is the only law firm in Arizona to combine attorneys with an array of urban planners, LEED certified consultants, project managers, energy consultants, and construction managers so that the firm can take a project from due diligence and acquisition, through planning and project management, and on to actual construction. Jordan practices in the areas of business consulting, government relations, municipal issues, land use, zoning, administrative law, and lobbying. She often provides legal commentary on a wide range of legal issues and active cases for local, state, and national news programming.

Jordan RoseFounder and PresidentRose Law Group PC

PresentersJim has more than 23 years of experience advising and serving a variety of clients in the real estate, construction, hospitality, and manufacturing industries. He also serves venture-backed clients within the emerging growth market and private-equity-owned businesses with a variety of complex capital and ownership structures. In addition, Jim serves as Deloitte's deputy real estate industry professional practice director over E&C. His focus in this national role includes identification and enhancements to the services Deloitte delivers to existing and prospective clients, and determination of how future changes in the regulatory and business environment will impact the real estate and construction industry. Jim earned a BS in accounting from the University of Kentucky.

Jim BrantManaging Director, Deputy Industry Professional Practice Director Deloitte & Touche LLP jbrant@deloitte.com

Aaron has more than 19 years of public accounting and industry experience. He primarily serves larger public and private clients in the real estate and for-profit education industries, including extensive experience with acquisitions, SEC transactions, and new client transitions. In addition to serving clients, his leadership roles in the Phoenix office include serving as Deloitte’s local real estate leader, recruiting partner, and leader of Deloitte’s accounting and advisory reporting services. Prior to joining Deloitte in 2006, Aaron served as the assistant controller for Fender Musical Instruments. He received his undergraduate accounting and masters of business administration degrees from Arizona State University.

Aaron CraftPartner Deloitte & Touche LLPacraft@deloitte.com

As one of the leaders of Deloitte Consulting’s Engineering & Construction (E&C) practice, Tom has been delivering technology solutions in the E&C and facilities management industries for over 20 years. He helps clients understand the impact to their business in a constantly changing technology world by applying tech fluency to clients' most pressing business opportunities using the latest in ERP, E&C systems, cloud, mobile, and IoT solutions. Prior to joining Deloitte in 2000, Tom worked in industry with Fluor Daniel GTI and The IT Corporation. He earned a BS in geology from the University of Rhode Island and an MBA from the University of Massachusetts Dartmouth.

Tom PendergastManaging Director Deloitte Consulting LLP tpendergast@deloitte.com

Michelle is a technology principal in Deloitte’s Financial Services and Asset Management and Real Estate practice, specializing in the Oracle Enterprise Solutions service line. Michelle brings more than 24 years of consulting experience with a focus on leading large, often global, finance and digital IT transformation programs by leveraging technology. While she has served clients across many industries, her primary focus has been serving engineering and construction and real estate companies, including leaders such as AECOM, Worley Parsons, Jacobs Engineering, MWH, and CBRE.

Based in Los Angeles, Michelle recently joined Deloitte from PricewaterhouseCoopers (PwC) where she was a managing director. Michelle earned a BA in economics and accounting from UCLA.

Michelle MeiselsPrincipalDeloitte Consulting LLPmmeisels@deloitte.com

David leads Deloitte’s Houston Private Wealth practice. He also oversees the office’s efforts to provide tax services to mid-market companies and leads Deloitte’s Real Estate Industry practice for the state of Texas, where he serves a variety of real estate companies including publicly traded REITs and private operating companies.

David has more than 25 years of experience serving clients in many industries including real estate, consumer products, hospitality, and high net worth individuals. Throughout his career, David has focused on developing leading-edge tax ideas and leading high-performance teams that deliver a broad range of compliance services.

David currently serves as president of the National Association of Real Estate Companies.David SandersPartner Deloitte Tax LLPdasanders@deloitte.com

Dustin is the deputy industry professional practice director (IPPD) for Deloitte’s real estate and construction practice. He is a partner in the Chicago office and has more than 15 years of public accounting experience. In his deputy IPPD role, Dustin consults on real estate accounting and auditing matters for both historical cost and fair value reporters, develops and presents technical updates to clients and staff, and reviews numerous financial statements and disclosures. In addition to his deputy IPPD role, he serves as the lead client service partner for some of the largest real estate companies in the United States.

J. Dustin SchultzPartner, Deputy Industry Professional Practice DirectorDeloitte & Touche LLPduschultz@deloitte.com

Wyndham (Wyn) is a partner in Deloitte & Touche LLP’s national office and serves as the professional practice director for the Real Estate & Construction industry practice. In his role, he assists clients and engagement teams around the country in identifying and resolving real estate and construction-related technical accounting and auditing issues. He also participates in establishing Deloitte’s positions on emerging accounting issues. Wyn has more than 25 years of public accounting and transaction experience in initial public offerings, secondary stock and debt offerings, mergers and acquisitions, and spin-off transactions.

G. Wyndham Smith, Jr.Partner, Real Estate & Construction Industry Professional Practice DirectorDeloitte & Touche LLPgesmith@deloitte.com

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