We are on the verge of some of the most sweeping changes instituted by the Financial Accounting Standards Board (FASB) in more than 30 years, says David Clark, UGL Services. These changes will have significant impact on the commercial real estate industry.
He says the greatest change, a change that is long overdue, will impact tenants—specifically, publicly traded companies—and how they report their leasehold interests.
“The tenant side has been broken for a long time, because of off-balance sheet activity,” he says, explaining that the measures are all about creating greater transparency in the system.
David Clark is moderating a panel that will go deeper into the mechanics and issues surrounding the proposed FASB changes. The session is part of a three-panel conference, Reviving Commercial Real Estate being hosted on March 23 at the University Club of Chicago. The panel discussion will include providing an up-to-the-minute scorecard of how the new regulations are changing in response to a significant reaction from the business world in general, and, more specifically, the commercial real estate industry.
Other members of Clark’s panel will include Evan Djikas, Colliers International; Douglas Struckman, PriceWaterhouseCoopers; and Scott Riser, Baker Tilly.
The other sessions at the conference include a panel on taxes—business and real estate property—and their impact on commercial real estate and one on strategies for securing financing and refinancing opportunities.
The conference begins at 7 am with networking and registration. The cost to register, which can be done online at www.rejournals.com/conferences, is $39. For more information go to www.rejournals.com/conferences or contact Debbie Dewolf at 312-644-2804 or [email protected].
The panel on taxes will feature Joe Calvanico, Crowe Horwath; Jason S. Vanden Bosch, CBIZ MHM, LLC; Brian Liston, Liston Tsantilis; and Guy Ackermann, Plante & Moran. The final session, covering financing and investing strategies, includes Tom Jarros, Levenfeld Pearlstein; Gary DeClark, Integra; John Przybyla, Marcus & Millichap; and Susan L. Blumberg, Northmarq Capital.