THIS MEETING HAS BEEN CANCELLED DUE TO WEATHER AND WILL BE RESCHEDULED.
PLEASE NOTE NEW VENUE:
The Social 320 Washington St., Newton, MA
Networking sponsored by KeyBank
Retail 2018 – Apocalypse, Armageddon or Evolution?
presented by: Ron Pastore, Director, AEW Direct Investment Group
The retail industry has had a spike in store closures in 2017 universally blamed on e-commerce. There are far more powerful longer-term demand-side trends that drove retail in the past, and will continue to drive it in the future, namely: Increasing Income Inequality, the millennial generation poised to “break out” of their apartments and form independent households, and geographic inequality as manufacturing declines and new knowledge based employment is concentrated in fewer, larger metro areas. This trend is further deepened by declining household mobility. Americans move less than ever before.
Members: No Charge Guests: $35.00
Approved for up to 2.4 CTP/CCM recertification credits by the Association for Financial Professionals.
Approved for up to 2.4 FP&A recertification credits by the Association for Financial Professionals.
About the speaker:
Ronald M. Pastore, AEW Direct Investment Group
Ronald M. Pastore is the Senior Retail Portfolio Manager in AEW’s Direct Investment Group. In this capacity he oversees AEW’s retail portfolio with particular emphasis on super regional malls, urban specialty centers and retail-oriented mixed-use projects. Ron brings to his position over 30 years of real estate experience, including extensive experience managing joint ventures, complex redevelopment projects, financings and dispositions at both the asset and portfolio level. Ron served as managing partner for separate ventures that owned historic Union Station in Washington D.C. and Woodfield Mall in Chicago, and currently serves in a similar capacity for Arden Fair Mall in Sacramento, California. He previously served on the partnership committee of the Taubman Realty Group and was a key player in the restructuring of the Taubman UPREIT in 1998. Ron recently advised an AEW client on the redevelopment of a downtown property holding in Salt Lake City into City Creek Center – a 20-acre, open-air mixed use project anchored by Nordstrom and Macy’s, featuring 300,000 square feet of specialty retail and 450 housing units. City Creek Center opened in March 2012 and received the International Property Award for “Best Retail Development, USA”. Ron joined AEW in 1993 from Himmel/MKDG, where he was responsible for retail asset management, development planning and joint venture structuring. Prior to Himmel/MKDG, Ron was a consulting city planner responsible for financing and managing infrastructure improvement and downtown revitalization projects in New England. He is a member of the International Council of Shopping Centers (ICSC). Ron is a graduate of Bowdoin College (B.A.), Harvard University’s Kennedy School of Government (Masters in City and Regional Planning) and MIT’s Sloan School (M.B.A.).