Thursday, May 23, 2019
Opportunity Zones and Hotel Development
Carpe Diem are the new buzzwords around the nation’s Opportunity Zones and hotel owners, developers and investors are eager to gain as much information as possible about these “hot spots,” their big tax incentives, and potential tax savings, particularly in California, so they can make the best deals. Come learn what options and opportunities are available in your state.
BRUCE BALTIN is a managing director in the Los Angeles office of CBRE Hotels, a part of CBRE Group, Inc., an international real estate services firm of management consultants, industry specialists and appraisers who provide a range of services to the hospitality, real estate and tourism industries. CBRE Hotels consists of three integrated hospitality-focused divisions, including consulting, brokerage and capital markets, and research.
In his more than 45 years with the firm, Baltin has had a wide diversity of experience in the hospitality and tourism industries, including market-demand studies, valuations, economic and operational consulting and dealing with leases, franchises and management contracts. His industry experience includes hotels, resorts, clubs, restaurants, theme parks, and national and state parks.
He has worked extensively with various governmental entities in tourism and hospitality real estate issues. Baltin frequently has been quoted in the national and local press and testified as an expert witness on various industry issues.
Prior to joining CBRE he taught at the University of Nevada, Las Vegas and was corporate operations analyst for the Sheraton Corp. of America. He has taught extensively in the Collins School of Hospitality Management at California Polytechnic Institute, Pomona and is an Adjunct Associate Professor teaching courses in the Masters of Real Estate Development program at the University of Southern California.
KYLE WALKER is founder/CEO of NewGen Worldwide, a commercial real estate company that, in addition to its own property holdings, provides targeted capital and advisory solutions. The company has hospitality holdings in Arizona, Kentucky and Ohio and includes franchises from Choice Hotels International, Hilton and Marriott International.
He also is founder/managing partner of Agora AltX (AAX), a fintech company with patent-pending Pathchain technology that uses blockchain to provide a verifiable funds record. AAX provides bank account and fund administration services to Opportunity Zone Funds and is geared toward helping lower back-office costs, increasing investor transparency and streamlining the transaction process.
Walker is a founding member and chairman of the board of OZAA (Opportunity Zone Association of America), the first Opportunity Zone trade association. He also served on the board of IIUSA, the EB-5 trade association.
Jeff Stephenson is vice president/franchise development U.S. for G6 Hospitality, LLC. He leads the expansion efforts for Motel 6 and Studio 6 throughout the United States. Since joining G6, he has helped grow the brands by more than 650 locations.
Stephenson joined G6 Hospitality in 2015 as managing director of franchise development and has more than 20 years’ of hotel experience, including operations, franchise operations and franchise development. He previously served with Red Roof Inn and Accor.
Headquartered in Carrollton, Texas, G6 Hospitality, LLC owns, operates and franchises more than 1,400 economy lodging locations currently under the Motel 6 and Studio 6 brands in the United States and Canada and the Hotel 6 brand in India. G6 also has plans to franchise the Hotel 6 and Estudio 6 brands in Central America.
J. DANA TSAKANIKAS is executive vice president for Stonehill and responsible for managing the structuring and execution of the direct hospitality lender’s investments, working with the executive team to implement the company’s strategic vision.
Most recently, he was responsible for sourcing, structuring, and executing on joint-venture equity and preferred-equity investments across all Stonehill and Peachtree Hotel Group funds, with a focus on the Qualified Opportunity Zone fund. Tsakanikas has more than 25 years’ of commercial real estate private equity, structured-finance, development and operations experience. He also has significant experience in ground-up development projects as well as in restructuring distressed properties in various commercial real estate asset classes.
Prior to joining Stonehill, Tsakanikas was SVP for Rockbridge, a commercial real estate private equity firm that makes debt and equity investments in value-added hotel transactions. He also previously held various positions with Hanover Financial and Heller International.