On Thursday, October 8, Berkadia hosted Conversations with the C-Suite: Real Estate Tax Consequences of the 2020 Election, a discussion about the tax implications of the upcoming 2020 election with economic, legal and accounting experts in real estate.
As always, we’re committed to sharing the latest insights, data and thought leadership with our clients and partners. As we navigate this ever-changing landscape together, that commitment has never been more important, so we hope this webinar will be a valuable resource to you and your team.
Berkadia is proud to partner with Marcum LLP, who have offered their expert guidance on the tax positions of both presidential candidates here.
Randy Jenson– CFO – Berkadia: Randall Jenson is Chief Financial Officer and a member of Berkadia’s Management Committee. In this role, Mr. Jenson is responsible for the finance, accounting, treasury, human resources and risk divisions, as well as mergers and acquisitions and general management.
In 2002, Mr. Jenson co-founded Ranch Capital, LLC and served as its President until 2019. Ranch identified the investment in Berkadia and introduced it to Berkshire Hathaway and Leucadia. While at Ranch he also served as Chief Financial Officer of Hawaiian Holdings, Inc., the parent company of Hawaiian Airlines, a Ranch Capital portfolio company.
Prior to co-founding Ranch, he held various positions at Leucadia National Corporation, including business development and president and CEO of Banking and Lending Operations for more than five years.
Hilary Provinse – EVP, Head of Mortgage Banking – Berkadia: Hilary Provinse is Executive Vice President, Head of Mortgage Banking and a member of Berkadia’s Management Committee. In this role, Ms. Provinse oversees more than 148 experienced mortgage bankers and their teams located in 40 offices across the country. These bankers serve clients across all multifamily and commercial real estate channels, including specialized teams with expertise in seniors housing and healthcare, hotels and hospitality, student housing, affordable housing and manufactured housing. Ms. Provinse ensures that clients benefit from our market leadership and deep relationships with diverse capital sources, including Berkadia’s 48 Life Company’s correspondents, banks, CMBS, Debt Funds, Fannie Mae, Freddie Mac and HUD.
In 2019, Berkadia’s combined production volume of loan origination, investment sales and JV equity placements exceeded $36 billion, of which $27 billion is attributed to the company’s mortgage banking division. Berkadia was also ranked as Freddie Mac’s number one conventional Optigo lender.
Previously, Ms. Provinse was Senior Vice President and Head of Customer Engagement at Fannie Mae, where she managed the team who was responsible for all of Fannie Mae’s production activities and customer relationships – overseeing more than $100 billion of production during the course of her tenure. Prior to joining Fannie Mae in 2003, Ms. Provinse spent 10 years on Wall Street in investment banking, working for Goldman Sachs & Co. and Bear Stearns & Co. in New York.
Wendi L. Kotzen– Partner – Ballard Spahr LLP: Wendi L. Kotzen is a Practice Leader of Ballard Spahr’s Tax Group. She advises clients on the taxation of all types of real estate transactions, has an extensive background in Pennsylvania and Philadelphia realty transfer tax planning, and advises clients on mergers and acquisitions. Wendi is also experienced working with REITs; real estate partnerships (both for developers and investors); leasing transactions, including sale-leasebacks; Pennsylvania state tax incentives; and structuring like-kind exchanges (forward, reverse, and TIC exchanges).
Wendi represents clients before federal, state, and local tax agencies contesting proposed adjustments and in connection with obtaining rulings on tax issues. She provides tax advice in labor and other litigation matters and withholding tax issues. She also regularly advises on Pennsylvania state and local tax planning and opportunities. Through 2018, Wendi has focused on the new Qualified Opportunity Zone tax incentive to assist clients to form and structure qualified opportunity funds.
Edward A. Liva, CPA, J.D., LL.M.– Professor of Practice – Villanova University School of Business: Ed is a Professor of Practice at Villanova School of Business where he teaches Partnership Taxation and Advanced Topics in Taxation in the new VSB Master of Taxation and Data Analytics program that began in the 2020 academic year. He also teaches Federal Income Taxes and Accounting for Real Estate Investment in the VSB undergraduate program.
Ed retired from KPMG LLP in 2015 as a partner following a 38-year career in the profession. He began his career with Arthur Andersen in Chicago in 1977 and transferred to its Philadelphia office in 1991. In 2002, Ed joined KPMG and served as their National Tax Industry Leader through his retirement. Ed also served as the Partner in Charge of the KPMG Philadelphia Tax practice from 2005 through 2011 and subsequently transferred to KPMG’s New York office in 2011 to lead their Northeast Real Estate Tax practice.
Throughout most of his professional career, Ed served as an adjunct professor in Villanova’s Graduate Tax Program since 1993. Upon retiring from KPMG, Ed joined the Villanova Law School as Professor of Practice and Director of Villanova’s Graduate Tax Program where he taught and directed the cross-disciplinary tax program designed for lawyers, accountants, and business professionals from 2015 through 2018.
Edward J. Reitmeyer– Mid-Atlantic Regional Partner-in-Charge of Tax Services– Marcum Accountants & Advisors: Edward J. Reitmeyer is Mid-Atlantic regional partner-in-charge of Tax and Business Services at Marcum Accountants & Advisors. Additionally, he chairs the Philadelphia Real Estate Services Group. He has over 30 years of public and private accounting experience in the real estate sector. Mr. Reitmeyer provides integrated tax, transaction and advisory services to owners, builders, lenders and users of real estate.
Mr. Reitmeyer specializes in tax restructuring and compliance, asset management, and capital restructuring. He also is skilled in developing real estate strategies, evaluating acquisitions and modeling, divestiture and development activities and debt financing options.
Prior to joining Marcum, Ed worked for a national and a regional CPA firm in Philadelphia. Mr. Reitmeyer also served as the President of Wynnewood Financial Partners, LLC, a consulting firm to real estate developers and investors of real estate and Chief Financial Officer of Wynnewood Development, Inc., a Bala Cynwyd based real estate development firm.
Mr. Reitmeyer has presented many lectures and seminars for accountants on a variety of tax subjects to groups including partnership taxation, tax compliance for individuals and businesses, estate planning, and medical office building development.