Commercial Observer’s inaugural Women’s Executive Leadership Reception on March 5 at RXR’s 590 Madison Avenue brought together leaders in the commercial real estate industry for an evening of networking, discussion and impact all focused on advancing women in real estate.
“This is the first time we’re hosting this special event,” CO Executive Editor Cathy Cunningham, the evening’s emcee, said as she kicked off the night. “In honor of Women’s History Month, we wanted to convene women who are working to transform our industry and who are building legacies within their firms, the broader industry and the communities it serves.”
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Whitney Arcaro, chief revenue officer and executive vice president for residential at owner and developer RXR, offered welcoming remarks at the event — a sparkling evening filled with wine, nibbles and good conversation — which was hosted in the amenities space at 590 Madison. She was followed by Kate Davis, managing director and senior portfolio manager of Harrison Street Real Estate Capital, who discussed the Goldie Initiative, a nonprofit focused on advancing the careers of women in real estate.
“Since its founding in 2007, the organization has supported over 200 graduate-level women at over 30 universities nationally through a combination of merit-based scholarships, mentorship, leadership, development and access to a powerful network nationally of industry leaders,” Davis said. “Goldie scholars don’t just get financial support. They get mentors, hands-on leadership training and meaningful connections that help accelerate their careers and strengthen the talent pipeline for our entire industry.”
The pinnacle of the evening was a conversation between Nina Roket, co-managing partner as well as co-chair of the real estate law practice and chair of the commercial leasing practice at Olshan Frome Wolosky, and Lauren Hochfelder, CEO of Morgan Stanley Real Estate Investing.
Roket and Hochfelder discussed their outlook on the real estate industry, what they’ve been seeing across the different sectors, as well as the impact of geopolitical concerns on real estate, global capital, institution positioning and leadership.
“As we all sit here tonight, real estate capital is being deployed at a moment where risk is real, it’s geopolitical, it’s macroeconomic and it’s structural,” Roket said. “And, against that backdrop, global platforms aren’t just reacting to the cycle. They’re deciding where to lean in, where to stay patient, and how to position what’s next to come.”
The big question from the discussion was: Where are we in the cycle, geopolitically, and across different sectors and marketplaces? Hochfelder addressed it head-on.
“The world is obviously, as we are reminded daily, extraordinarily volatile from a geopolitical standpoint,” she said. “The macroeconomic cycles, on the one hand, feel longer. On the other hand, it feels shorter. There’s so much going on. But I think if you zoom back to our collective world of real estate, we feel extraordinarily enthusiastic about where we are today. We think we are pretty squarely at a cyclical low.”
She went on to say that the “broader investable universe” is nearing all-time highs, while noting that although real estate feels cheap relative to other asset classes, it doesn’t actually matter.
“When you see prices down, cost of capital down, and construction down, those are really strong leading indicators of a cyclical recovery,” Hochfelder said. “So, in short, I think we feel very good about where we are cyclically.”
Following the one on one, Commercial Observer presented some of the attendees with a few special honors.
Hochfelder was presented with CO’s Investor of the Year award, in recognition of the influence and leadership she has demonstrated within the industry.
Danielle Lesser, partner and chair of business litigation at Morrison Cohen, presented the Mentor of Distinction award to Lauren Golub, senior managing director and chief operating officer at Affinius Capital.
Golub was celebrated for her exceptional dedication to mentorship and support of the next generation of women in real estate.
“I’m deeply humbled to accept this award for mentorship, and I’m reminded of the transformative power that true mentorship holds,” Golub said when accepting her award. “Mentorship is not just about offering instructions or sharing advice. It’s a powerful collaboration and partnership focused on growth, empowerment and unlocking potential. … One of my most valued mentors taught me that falling didn’t equate to failure. It simply meant you had another shot to get it right. That lesson has stayed with me, and it’s a message I try to pass on to those I mentor.”
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
