Before joining Sunstone as Director of Capital Markets, Ms. Morehead held positions in both the commercial real estate and banking industries. After starting her banking career in Citicorp's National Real Estate Group, Sheryl moved west and became division manager of commercial real estate industries for Bank of California/Mitsubishi managing a $4B portfolio and ten production offices. As CCO and President of First Los Angeles Bank and later, CEO of First Bancorp, she specialized in transitioning challenged institutions with troubled real estate assets to regulatory compliance and profitability. Prior to earning an MBA at Harvard Business School, Sheryl worked for shopping center developer Lanning Corporation of Boston securing financing, leasing and property management. As EVP of M&M Development Corp., she was involved in every phase of development, financing and property management. Sheryl completed her undergraduate work at Boston University earning a BS in finance. At Sunstone, Ms. Morehead is in charge of raising capital on a direct basis to add to Sunstone's integrated framework. She sits on investment committee and is also responsible for debt placement and bank relations.
The pandemic has created significant problems for certain classes of real estate and while multifamily real estate has fared better than most, the impact of Covid on other sectors has created issues in the debt markets and in household income that has had an impact on all sectors and the economy in general. Defaults and foreclosures leading to discounted pricing have not yet occurred to any significant degree and while additional weakness is anticipated when eviction moratoriums are removed, the multifamily market is expected to remain stable due to pent up demand, agency lending and significant liquidity attracted to the sector.
The reason the fallout from Covid has been limited so far is largely due to actions taken by lenders, asset managers and tenants to work cooperatively in developing payment plans and workout solutions in lieu of taking more extreme measures.
Speakers: Gideon Pfeffer, Chris Loeffler, Sheryl Morehead, and Ana Bozovic
As we finish the 1st quarter of 2021, multifamily has performed well in these dynamic times. Our industry experts will discuss how they are navigating the new market realities concerning occupancy rates, rents, valuations, evictions and cap rates.
Additionally, ApexOne Investment Partners, Sunstone Property Trust and GSH Real Estate will provide insights into the new opportunities and numerous pricing dislocations facing the multifamily sector.
Speakers: Rob Jafek, Ernest Johnson, Gideon Pfeffer, and Sheryl Morehead
No matter what side of a real estate transaction you sit, the impact of US Government intervention in our business seems overwhelming. In some cases, we welcome the help as taxpayer funded liquidity programs has certainly helped to support our fragile economy. Unemployment benefits and PPP loans have enabled many borrowers and tenants to stay current. On the other hand, federal and local governments have imposed eviction and foreclosure moratoriums, and those restrictions have been renewed and remain in full force in a majority of states. Our panel of landlords, lawyers, lenders, and investors will debate their perspectives on the right direction for our country and the economy.
Speakers: Michael D’Onofrio, Bill Bymel, Jack Goldberg, Sheryl Morehead, and Tony Barkan
We are in the middle of one of the most challenging years the real estate market has witnessed in modern times. COVID-19 and civil unrest have ushered in significant uncertainty affecting real estate assets of all kinds. It is truly difficult to predict how asset prices will be evaluated and at what discount deals will begin to get done. There is a significant dispersion between buyer and seller expectations. The Federal bailout packages are replacing lost revenue and putting money directly into the system to delay price discovery. Our panel of experts will provide detailed insights on where and how they are navigating these unchartered waters and where they are placing their bets once for once the dust settles. They will also discuss how to play the court system to find opportunities.
Speakers: Jeremy Christensen, Ernest Johnson, Nate Kline, Sheryl Morehead, and Alberto Siblesz
Sunstone is a fully integrated real estate operator, developer and fund sponsor in business since 2012. After 30 years in the commercial real estate business, the founders of Sunstone chose workforce multifamily housing as a sector because of its solid performance throughout varying economic cycles. Sunstone performs its own architectural design work, construction, asset management and fund management to achieve maximum efficiency, cost containment and investor returns. Its acquisition team sources transactions with proprietary software and a network of local brokers. Capital markets works with investors and lenders to optimize Sunstone's access to debt and equity. Risk is managed through a comprehensive due diligence and underwriting process with investment committee oversight. Hands-on portfolio management is effected from acquisition through disposition. Sunstone's markets include Texas, Florida, California, Arizona and Nevada.