Articles

2011 Annual Summit was a Great Success

by Kieran Donohue (Director, Communications and Education)

Nearly 100 apartment investors and guests attended the 2011 37^th Parallel Investor Summit held on October 15^th at the Concord Hilton in Concord, CA. The Summit featured a wide array of information for the current and prospective multifamily investor.

Chad Doty, CEO and co-founder of 37^th Parallel Properties, kicked off the day by reviewing the state of the Commercial Real Estate market and the compelling fundamentals of apartment investing.

Following his opening remarks, a breakout session was held for prospective investors while Dan Chamberlain, Vice President & COO, led a detailed performance review of each asset under management with current investors.

This year’s Summit also featured several new items on the agenda. The Investor Hot Seat Session allowed attendees the opportunity to ask a panel of current investors any question they had about their 37^th Parallel experience. Caren Briggs-Walker, Dennis Bethel and Roger Stumbo fielded multiple questions from the audience, and many guests remarked that the Hot Seat Session was the most informative and effective hour of the day.

37^th Parallel was also thrilled to introduce Ray Alcorn, noted real estate investor, educator and author of the highly regarded DealMakers Guide. Ray spent more than an hour going through his 2012-2013 Commercial Real Estate forecast. His fact-driven and entertaining presentation was a definite audience favorite, and we look forward to inviting Ray back to our Summit for years to come.

In response to feedback from the 2010 Summit, Ed Barriskill, President and Co-Founder, took the stage and walked through the concept of Lazy Assets –those investments that are not generating tax advantaged cash flow. Many in the audience later remarked that Ed’s presentation provided them with the most valuable information of the entire Summit and prompted them to revisit their entire investment strategy.

Chad followed Ed with a thorough discussion of Self-Directed IRA’s and the various ways this vehicle can be used to invest in a Multifamily investment project. Chad wrapped up the Summit by previewing the year ahead for 37^th Parallel and the exciting opportunities in the multifamily space for the next 12 months.

Several prizes were also given out at the end of the day. Gary Agopian and Heather Metcalf each won a share in an upcoming multifamily investment, and Rose Greenlees won the coveted iPad2.

The 37^th Parallel Team is reviewing all of the feedback provided by our attendees and has already begun planning for the 2012 Summit. We would like to thank all those that attended and look forward to making our next Summit the best one yet.