Event

On March 15, Day Pitney hosted its annual Palm Beach Family Office Conference. The program provided an in-depth discussion of investment considerations, challenges and opportunities in two diverse and dynamic asset classes in which family offices invest: real estate and art. Scott Beach, Chair of Day Pitney's Corporate and Business Law department and head of its family Office practice served as master of ceremonies for the program, which was held in coordination with the Family Office Association's Annual Investment Forum.

Suzanne Mulvee, Director of Research at CoStar Group, presented an overview of the current commercial real estate market, entitled "Late Cycle Investing," and was followed by a panel discussion, "Real Estate Investing: Challenges and Opportunities in a Rapidly Changing Landscape." The panel, which covered investment opportunities in multiple property types, including multi-family, retail and industrial, was moderated by James Carlon, Day Pitney Partner, and panelists included Pryse Elam, Principal, President of Development & Investment, Foundry Commercial; Christopher Hanley, CFO & COO, Alliance Real Estate; Patrick Harwell, Senior VP Acquisitions / Asset Management, LMS Real Estate Investment Management; and Brian Neltner, CEO, Select Strategies Realty.

The second panel, "Art Investing: Art as an Asset Class," was moderated by Von E. Sanborn, Day Pitney Partner, and panelists included Elizabeth von Habsburg, Managing Director, Winston Art Group, and Darren Wallace, Day Pitney Partner. The panel discussed the state of the art market; due diligence, other considerations and structures when acquiring art; insurance issues, collateral loans and museum exhibitions considerations when owning art; and tax traps, choice of sale venue and local law considerations when selling art.