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Real Estate Sectors in Transition

Global trade and consumer patterns are changing, impacting both retail and logistics assets. Over the past decade, industrial warehouses have been established as an institutional asset class approaching 15 percent of the IPD index. Traditional bricks and mortar retail remains the second largest real estate sector, and both sectors are affected by e-commerce and changing end-user preferences.

We have invited two key investors and decision-makers to share their experience and thinking on two sectors in transition.

Norges Bank Investment Management

Programme

08.00 Registration, breakfast and coffee

08.30 Introduction

            Lars Dahl – CRO, Norges Bank Real Estate Management

08.35 Ahead of What’s Next: The Future of Logistics Real Estate

            Hamid Moghadam – CEO, Prologis

09.00 Retail for the 21st Century

            David Simon –CEO, Simon Property Group

09.25 Discussion

            Hamid Moghadam – CEO, Prologis

            David Simon –CEO, Simon Property Group

            Karsten Kallevig – CEO, Norges Bank Real Estate Management

10.00 Seminar ends

Speakers

Hamid Moghadam – Chairman and CEO, Prologis

Hamid Moghadam is Chairman and CEO of Prologis (NYSE:PLD), a world leader in logistics real estate. In 1983, Mr. Moghadam co-founded the company's predecessor, AMB Property Corporation, and led it through its initial public offering in 1997, as well as its merger with Prologis in 2011. He has been a board member since the company’s inception and serves on the board’s executive committee.

Mr. Moghadam has served as a trustee of Stanford University. He remains active with Stanford, currently serving on the board of the Stanford Management Company, where he was formerly chair. He also serves on Stanford’s FSI Council (Freeman Spogli Institute for International Studies) and the Stanford Graduate School of Business’ Advisory Council. Previously, he served as a trustee and as a member on the board’s executive committee for the Urban Land Institute, chairman of NAREIT and REITPAC, and as a member of several other philanthropic, community, and corporate boards.

Mr. Moghadam received the 2013 Ernst & Young National Entrepreneur of the Year Overall Award and is a recipient of the Ellis Island Medal of Honor. He has been named CEO of the Year and received multiple lifetime achievement awards from leading publications and industry organizations.

Mr. Moghadam received an MBA from the Stanford Graduate School of Business and a Bachelor and Master of Science in engineering from Massachusetts Institute of Technology.

David Simon – Chairman and CEO, Simon Property Group

David E. Simon is chairman of the board and chief executive officer of Simon (NYSE:SPG), a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company. Simon's properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

Mr. Simon joined the organization in 1990. In 1993 he led the efforts to take Simon Property Group public with a nearly $1 billion initial public offering that, at the time, was the largest real estate stock offering. Mr. Simon became CEO in 1995. Since that time, he has orchestrated more than $40 billion in strategic acquisitions that, together with ground-up development, have allowed the company to assemble a portfolio of top-tier shopping centers that serve as home to virtually every top retailer.

Before joining the organization, Mr. Simon was a vice president of Wasserstein Perella & Co., a Wall Street firm specializing in mergers and acquisitions and leveraged buyouts.

Mr. Simon is a member and former chairman of the National Association of Real Estate Investment Trusts (NAREIT) board of governors and is a former trustee of the International Council of Shopping Centers (ICSC). He has received numerous industry honors, and in 2000, he was inducted into the Indiana University Kelley School of Business Academy of Alumni Fellows. He has been named the top CEO in the real estate industry by Institutional Investor magazine every year from 2009 - 2017 and in 2014 was named by both buy and sell-side analysts as the top performing CEO in the REIT industry and as such became a member of Institutional Investor's 2014 All-America Executive Team. In 2010, 2013, 2014, 2016 then again in 2017, the Harvard Business Review recognized him as one of the world's best­performing CEO's. In March 2012, Mr. Simon was appointed to the position of Chairman of Klépierre's Supervisory Board. Klépierre is a public retail real estate company, headquartered in Paris that focuses on the ownership, management and development of high-quality shopping centers across Continental Europe. In March 2013, he was recognized as one of the World's Best CEO's by Barron's magazine. Commercial Property Executive named him Retail Property Executive of the Year in December 2015.

Mr. Simon holds a B.S. degree from Indiana University and an MBA from Columbia University's Graduate School of Business.

Karsten Kallevig – CEO, Norges Bank Real Estate Management

Karsten Kallevig joined Norges Bank Investment Management in September 2010 to lead its real estate efforts. Since January 2016, he has served as Chief Executive Officer of Norges Bank Real Estate Management.

Mr Kallevig has a Bachelor of Science (Materials Science and Engineering) from Massachusetts Institute of Technology.

Lars Dahl – CRO, Norges Bank Real Estate Management

Lars Dahl was appointed Chief Risk Officer in Norges Bank Real Estate Management in January 2015.

Mr Dahl has a Ph.D. in mathematical finance from the Norwegian University of Science & Technology (NTNU).