16 - 19 January
St Moritz
PROGRAM
St Moritz
PROGRAM

Welcome
We are delighted to welcome you to the GRI Global Chairmen’s Retreat 2025.
As always, the GRI Chairmen’s Retreat provides a collegial and informal space for conversations between friends.
It is an opportunity to compare ideas, concerns and hopes with the best and brightest of your peers.
We encourage you to actively participate, interject, comment, question, dissent, and openly speak your mind. And to have fun while doing so.
Life is too short for anything else.
Welcome to St Moritz.
As always, the GRI Chairmen’s Retreat provides a collegial and informal space for conversations between friends.
It is an opportunity to compare ideas, concerns and hopes with the best and brightest of your peers.
We encourage you to actively participate, interject, comment, question, dissent, and openly speak your mind. And to have fun while doing so.
Life is too short for anything else.
Welcome to St Moritz.
Opening Plenary
Equity or Debt
What is today’s better strategy?
Moderator
Stephen Plavin
Senior Managing Director and Head of Europe BREDS
Blackstone

Stephen Plavin
Senior Managing Director and Head of Europe BREDSBlackstone
USA
Steve Plavin is a Senior Managing Director based in London and oversees Blackstone’s Real Estate Debt Strategies business in Europe. Previously, from when he joined Blackstone in 2012 until June 2021, Mr. Plavin was the Chief Executive Officer of Blackstone Mortgage Trust, Inc., a NYSE- listed commercial mortgage REIT managed by Blackstone. Prior to joining Blackstone, Mr. Plavin served as CEO of Capital Trust, Inc. (predecessor of Blackstone Mortgage Trust) and CT Investment Management Co., LLC, a commercial real estate debt investment manager and rated special servicer that was wholly owned by Capital Trust and acquired by Blackstone in 2012.
Data Centres
Is there a limit?
Moderator
Lars Meisinger
Chief Executive Officer
Periskop Partners AG
Pradeep Pattem
CEO
Park Street Nordicom

Lars Meisinger
Chief Executive OfficerPeriskop Partners AG
Germany
Lars Meisinger is CEO and Chairman of the Executive Board of DLE Group AG. As CEO of DLE Group AG, Lars is responsible for the strategic direction and overall management of the group, with specific oversight of sales, communications, and human resources departments. Bringing over 25 years of experience in the investment management sector to his role, he has a proven track record of leadership and expertise.

Pradeep Pattem
CEOPark Street Nordicom
Denmark
Hotels
Should they be more expensive?
Moderator
Mauro Savoia
Partner
Three Stars Capital
Ryan Donn
CIO & Head of Europe
Trinity Investments

Mauro Savoia
PartnerThree Stars Capital
Italy
Mr. Savoia has over 20 years of experience in finance and real estate and closed deals for over Euro 8 billion covering capital markets, M&A, real estate and structured debt. He is Chairman and CEO of Three Stars Capital Partners. Mr. Savoia also headed Merrill Lynch Real Estate Finance in Italy. Before then, Mr. Savoia worked at Morgan Stanley, in M&A, Securitization and Real Estate. He also spent 3 years at Dresser Industries in Houston (TX). Mr. Savoia graduated from Università Cattolica Milan and was awarded with Premio Gemelli as “Best Graduate of the 1995 Class”. He also holds an MBA in Finance from HBU in Houston (TX).

Ryan Donn
CIO & Head of EuropeTrinity Investments
United Kingdom
Ryan is CIO and Head of Europe of Trinity Investments. Mr. Donn is responsible for leading Trinity’s transactional activity, including due diligence, acquisitions, dispositions, and financings. Prior to joining Trinity, Mr. Donn worked for Hotel Capital Advisers, Inc., Lehman Brothers, and PricewaterhouseCoopers LLP. He is a former instructor of New York University’s graduate hospitality program.
Trump and property
Good, bad or indifferent?
Moderator
Stefan Zimmermann
Managing Partner
4 Friends Investment
David Stubbs
Senior Investment Strategist
Blackstone
Peter Jun
Founder
ALMEA International

Stefan Zimmermann
Managing Partner4 Friends Investment
Germany
Stefan is a founding partner of 4 Friends Investment Group (4FI) and responsible for the general strategy, acquisition and structuring as well as member of the investment committee. 4FI is a privately held investment manager with a focus in the sectors health & lifestyle and real estate combining both platform and corporate investments. Through different subsidiaries 4FI has acquired real estate in continental Europe in excess of 700mn EUR and has invested into five different platforms. Prior to 4FI, Stefan founded ACREST Property Group, Germany’s largest non captive retail asset manager and worked for companies such as TishmanSpeyer or Tenkhoff Properties. He is an active member of ULI and ZIA.

David Stubbs
Senior Investment StrategistBlackstone
United Kingdom
Dr. David Stubbs is the Senior Investment Strategist for Blackstone. Former Global Head of Thematic Strategy for J.P. Morgan’s Private Bank. Based in the New York office, he was responsible for delivering research-driven insights on the global economy and thematic investing to ultra-high net worth clients. He is a frequent guest on CNBC, Bloomberg, CNN and other major market outlets. David was most recently the Global Head of Market Strategy at the JP Morgan Private Bank and was formerlv member of Asset Management’s Market Insights team, where he was responsible for formulating and communicating the business’s market views to institutional investors and financial advisors across the region and around the world.

Peter Jun
FounderALMEA International
Netherlands
Peter is founder of ALMEA International. Prior to ALMEA, Peter co-founded Arminius in 2006, Arminius organised private equity funds and co-investment vehicles with equity commitments from university endowments, pension funds and family offices and transacted on over €6 billion of transactions exclusively in Germany. Prior to Arminius, Peter was at Lone Star Europe and a partner in Lone Star Fund V. Additionally, Peter served as a Supervisory Board Member of Allgemeine HypothekenBank Rheinboden AG, (Corealcredit Bank AG). Prior to Lone Star, Peter was with The Praedium Group in New York and Lehman Brothers in London.
Plenary Report & Discussion
Global Real Estate
Has-been sector or assets whose time have come?
Living Sectors
A gift that will keep on giving?
Moderator
Wes Fuller
Chief Investment Officer
Greystar
Cristina García-Peri
Senior Partner Head of Strategy and Business Development
Azora

Wes Fuller
Chief Investment OfficerGreystar
USA
Wes Fuller is the Chief Investment Officer and leads the company’s Investment Management business, including Fund Management, Portfolio and Asset Management, the Investor Relations and Client Services teams, and Investment Research & Strategy. Under Wes’ leadership, the Office of the CIO is responsible for managing our key strategic relationships and growing Greystar-managed capital to fund deals across all of our business lines. Wes also maintains management oversight of the company’s Investment Management business, which focuses on investments in rental housing in the United States, Europe, Asia-Pacific, and South America regions through a series of investment vehicles with institutional clients.

Cristina García-Peri
Senior Partner Head of Strategy and Business DevelopmentAzora
Spain
Cristina García-Peri is Senior Partner and Head of Strategy and Corporate Development for the Azora Group. Prior to joining Azora in 2011, she worked for 16 years in the investment- banking sector at both Merrill Lynch (2 years) and JP Morgan (14 years), where she held various positions across M&A and Equity Capital Markets, and for 10 year, she was Managing Director responsible for Corporate Equity Derivatives for EMEA as well as Equity Capital Markets for Spain and Portugal. Cristina holds a bachelor degree in Economics from ICADE (Spain) and an MBA from Harvard Business School (USA). Cristina is Board Member at Bankinter, a Spanish IBEX 35 banking institution, where she Chairs the Nominations and Sustainability Committee.
Offices
Hurry and wait or time to buy?
Moderator
Dennis Selinas
CEO
Globalworth
Dieter Kräuchi
CEO Empira Investment Foundation
Empira Asset Management

Dennis Selinas
CEOGlobalworth
Guernsey
Dennis Selinas is a seasoned business leader with more than two decades of experience in the financial and property sectors. He possesses multidisciplinary expertise in executive management, operational and financial restructuring, mergers and acquisitions advisory, private equity, trading, and derivatives structuring, among other domains. His expertise spans various asset classes, including property, distressed debt, fixed income, and precious metals, across a diverse range of institutions such as listed property companies, private equity funds, investment banks, and hedge funds. Furthermore, he has operated in a range of jurisdictions, including South Eastern Europe, China, Brazil, the Middle East, and Western
Europe.

Dieter Kräuchi
CEO Empira Investment FoundationEmpira Asset Management
Switzerland
Logistics
No Brainer?
Moderator
Christopher Garbe
Managing Partner
GARBE
Mohamad Abouchalbak
CEO
SFO Capital Partners

Christopher Garbe
Managing PartnerGARBE
Germany
Christopher Garbe has a BA in Economics and Business Administration from the University of Hamburg and an MBA in International Management and Marketing gained in Sydney. He worked for the Australian shopping centre developer Westfield as a management executive for several years, before joining Garbe UK in 2006. Christopher Garbe has been a director of the London business since March 2006 and a Managing Director since March 2007. In 2006, he joined the Board of Directors of Garbe Holding AG & Co. KG, where he is responsible for developing the Group’s transactions in the UK and since 2009 also for the Group’s other foreign business. Recently, he has taken on a joint responsibility for the business area Corporate Finance.

Mohamad Abouchalbak
CEOSFO Capital Partners
United Kingdom
Mohamad is the CEO of SFO Capital Partners. He is also a member of SFO’s Board of Directors and its ESG Committee, and chairs the firm’s Executive and Investment Committees. Mohamad has been leading all aspects of the firm’s development since 2013.
With over 18 years of experience, Mohamad has been involved in more than USD15 billion of transactions in both advisory and principal roles across the real estate, hospitality and financial services sectors. Prior to joining SFO, Mohamad held positions at Kingdom Hotel Investments, JLL and Gulf Merger where he advised and acted on behalf of institutional investors and family offices on cross border transactions including mergers and acquisitions, direct investments and asset management.
Inflation Hedge
Did Real Estate fail?
Moderator
Aref Lahham
Founding Partner & Managing Director
Orion Capital Managers
David Stubbs
Senior Investment Strategist
Blackstone
Nikoletta Fouska
President & CIO
Latsco Family Office

Aref Lahham
Founding Partner & Managing DirectorOrion Capital Managers
United Kingdom
Aref Lahham is Founder and Managing Director of Orion. He is located primarily in Orion’s London office and acts as Orion’s Chief Executive Officer, setting the strategy and leading the Orion Fund’s acquisition team. He has been responsible for over €5.0 billion of property acquisitions throughout Europe. Aref has 34 years of real estate investment and development experience in the US and Europe. He has served on the board of French public quoted company Société Foncière Lyonnaise as well as on the investment committee of a Bulgari sponsored private equity fund called Opera. Mr. Lahham has a BSc in Civil Engineering from Purdue University, a Masters of Engineering in Civil Engineering from Cornell University and an MBA from INSEAD.

David Stubbs
Senior Investment StrategistBlackstone
United Kingdom
Dr. David Stubbs is the Senior Investment Strategist for Blackstone. Former Global Head of Thematic Strategy for J.P. Morgan’s Private Bank. Based in the New York office, he was responsible for delivering research-driven insights on the global economy and thematic investing to ultra-high net worth clients. He is a frequent guest on CNBC, Bloomberg, CNN and other major market outlets. David was most recently the Global Head of Market Strategy at the JP Morgan Private Bank and was formerlv member of Asset Management’s Market Insights team, where he was responsible for formulating and communicating the business’s market views to institutional investors and financial advisors across the region and around the world.

Nikoletta Fouska
President & CIOLatsco Family Office
Switzerland
Nikoletta heads investments, across asset classes, for Latsco Family Office, based in Geneva, Switzerland.
LFO is a single family office, which serves the family of Marianna Latsis (Greek shipping family) with offices in Switzerland, UK and Greece.
LFO principals hold interests in Real Estate, Shipping, Energy, Infrastructure, Technology and Entertainment.
LFO invests both in direct property assets, as well as real estate funds and property companies. It is a reference shareholder of GEK TERNA and DIMAND, both listed on the Athens stock exchange.
Nikoletta holds a BSc in Electrical Engineering & Computer Science and a MSc in Operations Research from MIT and an MBA from Harvard Business School. She has lived and worked internationally.
How to win the new world game
Discussions About Life