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Real Estate Outlook
Floris van Dijkum, Compass Point Research and Trading
Ben Miller,Fundrise
Vaibhav Vish, FJ Capital Management
Michael Joyce, Oranswell Realty Partners.

February 28, 2023
Tuesday 06:00 PM
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Washington Association of Money Managers and Fundrise
are pleased to present an in-person program on
Tuesday, February 28th for a panel discussion

"Real Estate Outlook"

Fundrise Headquarters
11 Dupont Circle NW, 9th Floor
Washington, DC 20036

Reception will begin at 6:00 PM EDT
Panel discussion will begin at 6:30 PM EDT

COVID-19 Safety Guidelines: We require all registrants to be vaccinated against COVID-19 prior to attending WAMM events.

After a really bad year on the back of surging interest rates and worries about a recession, the real estate sector is bouncing back. Real estate investment trusts (REITs) gained 10% in January, the best monthly performance since January 2019, according to the FTSE Nareit Equity REITs Index. In addition, after a couple of years of a meteoric rise, home prices seem to be coming down to Earth, albeit slowly. Moreover, builder sentiment in the single-family housing market posted an unexpected gain in January, rising for the first time in 12 straight months, meaning a rebound for home building could be underway later in 2023. Overall, despite the volatility and uncertainty of the real estate market over the past three years, this asset class remains a valuable part of an investor’s portfolio.

We are fortunate to have highly respected industry experts to walk us through the sector outlook for 2023 and beyond. Floris van Dijkum is Managing Director and Senior Research Analyst at Compass Point Research and Trading, Ben Miller is Co-Founder and CEO of Fundrise, Vaibhav Vish serves as Co-Portfolio Manager at FJ Capital Management and Michael Joyce, Managing Partner at Oranswell Realty Partners.

Please note that the Chatham House Rule applies – neither the comments of the speakers nor those of other participants are for attribution.

Please register below by 6:00 PM ET on Tuesday, February 28, 2023. The event is $0 for WAMM members, $55 for non-members, and $25 for student non-members. Please try to register early, as the space is limited!

Ben Miller
Co-Founder and CEO

Ben Miller is Co-Founder and CEO of Fundrise, America's largest direct-to-investor alternatives investment manager. Fundrise’s mission is to use technology to build a better financial system for the individual investor, one that is simpler, lower cost, more reliable and transparent. They build software that enables the company to develop and manage investments uniquely well positioned to grow and preserve their clients’ capital in any economic environment.

Since launching America’s first online real estate investment platform in 2012, Fundrise has now become the largest direct-to-investor alternatives investment manager with more than 1.6 million active users, more than $3.3 billion worth of equity under management, and $7 billion worth of real estate transacted. From private credit to real estate private equity to growth-stage venture capital, Fundrise offers investors exposure to some of the most prized asset classes in the world.

Prior to Fundrise, Ben has decades of experience in real estate and finance. As Managing Partner of WestMill Capital Partners and President of Western Development Corporation, Ben was responsible for acquiring, developing, and financing more than $500 million worth of property.

Floris van Dijkum
Managing Director and Senior Research Analyst
Compass Point Research and Trading, LLC

Floris van Dijkum joined Compass Point Research and Trading, LLC in June 2019, bringing 30+ years of real estate investment, research and banking experience. Prior to joining Compass Point, he started the REIT research effort at Boenning & Scattergood. Before that, he started the global REIT investment platform at BlackRock, where he served as COO and was responsible for a quarter of the U.S. portfolio. Prior to BlackRock, Mr. van Dijkum worked in Europe where he served as Chief Investment Officer for Speymill Property in London, head of real estate banking at NIBC in the Netherlands, partner at Forum Partners, head of Lehman Brothers European real estate banking in London, and Senior European Real Estate Research Analyst at Morgan Stanley in London. Before Europe, Mr. van Dijkum worked at Salomon Brothers in New York covering REITs, helping the team become top ranked. Mr. van Dijkum started his real estate career at LaSalle Partners in Chicago and London. He graduated with a B.A. in history and philosophy from the University of Virginia.

Michael Joyce
Managing Partner
Oranswell Realty Partners

Michael Joyce is Managing Partner at Oranswell Realty Partners, a tightly-held apartment investment and management firm with properties along the East Coast. In this role, Michael oversees the operation and management of approximately 1,500 multifamily units, and actively solicits opportunities to grow the business.

Prior to joining Oranswell, Michael spent more than eight years at American Real Estate Partners (AREP), a value-add focused operator and developer of office properties in the mid-Atlantic, where he was responsible for sourcing, underwriting, diligencing, financing and closing new acquisitions. At AREP, he has closed more than $1.2 billion of acquisitions and dispositions representing 6.9 million square feet in the Mid-Atlantic and Northeastern US. In addition, Michael played a key role in supporting the raising of AREP’s first two discretionary funds.

Michael has also held positions at Aareal Bank in Wiesbaden, Germany, where, as a member of the hotel lending group, he originated $150 million of new mortgages in the United States and was responsible for overseeing a $400 million portfolio of loans throughout Europe; and at Banc of America Securities, where, as an analyst in the Real Estate Investment Banking group, he executed the placement of JV equity in a $750 million office and industrial portfolio as well as the $6.6 billion sale of CNL Hotels and Resorts to Ashford Hospitality Trust and an affiliate of Morgan Stanley Real Estate.

Michael holds a Bachelor of Arts in Classical Languages and Civilizations from Duke University and an MBA from the Tuck School of Business at Dartmouth College. Michael earned the CFA designation in 2012.

Michael enjoys spending time with his wife and five children, reading, and cycling. Michael also serves on the Advisory Board for the Duke University Catholic Center and is a member of the One Loudoun Neighborhood Association.

Vaibhav Vish
Co-Portfolio Manager
FJ Capital Management, LLC

Mr. Vish joined FJ Capital Management in 2021 and serves as Co-Portfolio Manager for the Financial Opportunity Long/Short Fund and Market Neutral Strategy. His responsibilities include portfolio management, investment research, and risk management, with a focus on insurance, as well as specialty finance and traditional real estate.

Previously, Mr. Vish was a Portfolio Manager at Millennium Management leading a team covering North American financials. Prior to this, Mr. Vish was an Analyst at Citadel, specializing in North American insurance companies. He began his career in investment banking at Lazard and subsequently worked at 3i in private equity and at a 3i portfolio company.

Mr. Vish graduated summa cum laude with a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania with a quadruple major in Finance, Real Estate, Legal Studies & Business Ethics, and Entrepreneurship, and a minor in Religious Studies. Mr. Vish also received Beta Gamma Sigma and Theta Alpha Kappa honors and was a Joseph Wharton Scholar, Benjamin Franklin Scholar, and Wharton Research Scholar.