REAL ESTATE CONSIDERATIONS FOR BUSINESS GROWTH AND EXIT PLANNING
Real estate is a critically important component for business owners, particularly when it comes to operations, growth, and exit planning. This panel, hosted by EPI, will explore various considerations and strategies that business owners should be aware of with their owned and leased real estate within the context of both business expansion and succession planning. The discussion will feature real-world examples to compare the merits of leasing versus owning real estate for business operations, financing owner-occupied real estate, and implementing sale-leaseback strategies. Additionally, the panel will address the financial and legal implications associated with these strategies. Attendees can look forward to gaining valuable insights on how business owners can effectively align real estate investments with their long-term financial goals, business objectives, and exit strategies, ultimately ensuring a smooth transition.
Learning Objectives:
- Understand the key considerations and trade-offs for business owners when deciding between leasing or owning real estate for a business’ operations.
- Explore real-world examples of how business owners lease, finance, and structure their real estate holdings to benefit their exit plan.
- Gain insights into the benefits and challenges of implementing sale-leaseback strategies and their role in business exit planning.
- Introduce the financial and legal considerations associated with various real estate strategies and learn how to align them with long-term financial goals and business objectives.
About the Presenters:
Hear from industry experts Esther Hopkins, P.C. Law Offices of Esther Hopkins, Jeff Gould Principal and Founder Lineage Asset Advisors Inc., Loren Witkin President Citadel EHS, Lee Mackay Shareholder Nevers, Palazzo, Packard, Wildermuth & Wynner, and Scott Gilmore Managing Partner Ascen Tax Business Advisors.
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Who Should Attend?
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Attorneys
You have close relationships with clients, and can benefit from being the first advisor to introduce the idea of exit planning.
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Wealth Managers
You’re a skilled relationship person. Being entangled into your clients’ professional lives matters as you build a strategy to manage their wealth upon them harvesting it from their business. Exit planning allows you to build a deeper relationship with your client, expands your COI network, while giving you an early seat at table well before the liquidity event.
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CPAs/Accountants
Owners participating in the State of Owner Readiness research continue to indicate that you are the No. 1 "Most Trusted Advisor." You are a natural fit to lead the exit planning team and deepen your relationship (and retention) of next generation owners.
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Financial Advisors
One of the critical ‘legs of the stool’ is personal financing planning. An owner must have a strong financial plan & contingency plan post-transition to enable them to thrive in the next act of the lives personally and financially. Exit planning brings this future mindset into the present. Exit is now.
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Valuation Analysts
Valuation is both a billable engagement AND an opportunity to provide owners some perspective on how to accelerate value drivers (and deal with value killers). Use exit planning to make that valuation into a longer term value acceleration engagement.
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Investment Bankers
Only 2 of every 10 businesses that come to market actually sell. Learn how exit planning can bring attractive AND ready business to your purview.
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Estate Planners
Exit planning is a natural fit for estate planners who want to operate more holistically with their owner clients.
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Strategic Consultants
One of the most critical roles in exit planning is building transferable value. Strategic consultants have the ability to expand options and drive rapid business value that affect performance today.
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Insurance Professionals
Exit planning addresses the 5 D's. So do you. Approach the risk conversation differently with exit planning.
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Mergers & Acquisition Advisors
Proper exit planning causes less deals to fall through at the last minute. Connect with CEPAs to build your healthy deal flow network.
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Commercial Lenders
One of the best relationships a business owner makes is with their banker. How can you help your corporate clients think about the future and ensure financial continuity? Answer: exit planning.
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Family Business Advisors
More than 50% of lower middle market business owners would prefer to transition to the next generation. Help them succeed with exit planning strategies.
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Other Professional Advisors
Regardless of your unique specialty, there is seat at the exit planning table for you. Learn more at www.EarnCEPA.com.
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Private Business Owners
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Members of Family Business Boards
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Professional Advisors
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Business Consultants
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Other Business Professionals
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Business Owners
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Business Owners & Their Trusted Advisors
EXIT PLANNING IS GOOD BUSINESS STRATEGY
The Exit Planning Institute, provides Financial Advisors, Accountants, Consultants, and other advisors of business owners with the critical education to differentiate themselves and add value to their existing client relationships through a credential, conference, courses, and content. Download the CEPA brochure for more information.
ABOUT THE PRESENTERS
Meet Esther Hopkins, Esq.:
Esther Hopkins, founder and principal of the Law Offices of Esther Hopkins, P.C., provides personalized legal counsel to individuals and families in the areas of estate planning, business succession planning, and probate and trust administration and litigation. She is particularly adept at handling the planning and administration challenges unique to high net worth individuals and families, complex estates and business owners.
Esther spent the first 13 years of her career as a business litigation and transaction attorney. During this time, she saw how lawsuits between family members often tore families apart. She realized that many of these lawsuits could have been prevented with proper planning. As a result, she decided to focus on estate planning and closely related areas. Esther’s experience as a litigator gives her a unique perspective on planning and how to avoid the types of mistakes that can lead to lawsuits and other potential problems.
Meet Jeff Gould:
Jeff Gould is Principal and Founder of Lineage Asset Advisors which is a consulting, asset management and transaction advisory firm based in Los Angeles. Jeff consults with multi-generational families, family offices, and family businesses that own and operate commercial real estate to develop customized plans with their portfolios. Jeff provides strategic guidance on both the property dynamics and the ownership / family dynamics to help these owners transition their portfolios from generation to generation
Jeff has over nineteen years of commercial real estate industry experience having worked with some of the largest private commercial real estate owners in the country to provide guidance and consultation on projects related to; shared asset ownership plans, asset and property management, value-add, redevelopment, transit-oriented, sustainability, and investment properties. Prior to founding Lineage Asset Advisors, Jeff was Vice President at Colliers International.
Jeff also served as Managing Director of the Los Angeles Better Buildings Challenge which is a leadership initiative funded by LADWP and supported by the Mayor’s office. LABBC provides guidance to the largest commercial and multifamily property owners in Los Angeles on modernization strategies through energy and water efficiency initiatives in their buildings.
Jeff is passionate about giving back to the community and currently sits on the Board of Directors for Make-A-Wish Foundation Tri-Counties and is an active volunteer with local philanthropies such as Global Human Services and the Hospice of the Conejo. He currently resides in Westlake Village with his wife and two sons.
Meet Scott Gilmore:
Scott Gilmore has 20 years taxation experience and is a specialist in tax minimization and planning. He provides a variety of financial advice to his clients with a focus on the tax impacts.
Scott has extensive experience in the entire real estate investment cycle but also has clients in the manufacturing, private equity, professional services and family office industry with whom he enjoys working with.
Over the years, Scott has worked with a variety of service providers in several industries, meeting all their tax and accounting needs. His goal is to provide exceptional services to all his clients so they can focus on what they do best, while he takes care of the rest.
He stays up to date on current law changes and opportunities in an ever-changing tax climate so he can provide the most effective service to his clients. Taking great pride in helping his clients navigate their best path to achieve the goals they set for themselves and their families.
Scott is a state licensed CPA, member of AICPA and California Society of CPAs, and has a Master’s Degree of Taxation from the inaugural class CSUN University.
Meet Loren Witkin:
As CEO of Citadel, Loren Witkin is actively involved in all phases of corporate development, administration, and client management. He spearheaded the formation of the firm’s ESOP in 2003 as part of his vision to bring all of its employees into the fold of ownership, further strengthening the employee/client focus. He is known for his ability to manage complex project teams encompassing multiple disciplines, and building the consensus that keeps projects moving forward, on budget, and regulatory compliant.
During his career, Mr. Witkin has taken an active role in the advancement of community awareness of lead poisoning, as a founding member of both the California Medical Association Ad Hoc Committee on Lead and the California Chapter of the National Lead Abatement Council. In the field of sustainability, under Mr. Witkin’s leadership, Citadel developed, one of the first LEED Platinum interiors in the State of California (1 of 10 at the time) for its headquarters), Citadel becoming one of the founding Corporate Partners of UCLA’s Institute for the Environment and Sustainability, was a recipient of the Cal/EPA Climate Award, and a 2022 Achievement Award by the Environmental Business Journal. In addition, he has served as a panel member, speaker, and presenter on various EH&S matters to universities, public agencies, cities, school districts, and industry conferences. Mr. Witkin is the current President of the Downtown Breakfast Club, is on the Advisory Board for the Museum of Earth, and a member of the Urban Land Institute. In 2022, Mr. Witkin was recognized by the UCLA Alumni Association as of the Top 100 Bruin entrepreneurs. Mr. Witkin previously sat on the City of Hope Real Estate Council, AJU’s Real Estate Executive Council, and the Central City Association. Mr. Witkin holds numerous state, federal, and industry accreditations and certifications.
Meet Lee Mackay:
Lee Mackay represents private and institutional clients, including investment funds and family trusts, throughout the United States in a broad range of commercial real estate, financing, development, and investment matters. Focused on all aspects of commercial and residential leasing, acquisitions and dispositions, and management of real property, Lee represents both tenants and landlords connected to such properties as multifamily apartments, strip malls, office buildings, and unimproved land located throughout the United States. Lee works with institutional lenders as credit-enhancers and purchasers of taxable and tax-exempt bonds, and he advises developers in real estate-secured and tax-exempt financing transactions. Lee also has extensive experience advising clients in connection with preferred equity investments in multifamily projects behind Fannie Mae and Freddie Mac financing.
Lee earned his J.D. from The University of California at San Francisco in 2004, where he was a Justice Wiley Manuel Scholarship recipient, and won first place in the Evan A. Evans National Constitutional Law Moot Court Competition. He earned his B.A. in Economics with minors in History and Political Science form The University of California at Los Angeles in 2001. Lee has guest lectured on commercial leasing at Pepperdine University Graziadio School of Business since 2018.
Lee helped start Young Investors Society (“YIS”), a global financial literacy charity, in 2015, which teaches investment fundamentals to high school age youth. He has served on the executive board and general board of YIS since it’s inception.
In his spare time, Lee enjoys spending time with his family and friends freediving and spearfishing at the Channel Islands, as well as up and down the Baja California peninsula. Lee is fluent in Spanish.