The Real Estate Investment Advisory Council (“REIAC”) was established as a nonprofit trade association to provide a forum for the exchange of ideas, concerns and experiences among senior executives who conduct commercial real estate transactions.

We are an exclusive national fellowship of top real estate executives that offer superior educational events, networking opportunities and community service. Our institutional quality programs are presented in a social environment where our members can share experiences and knowledge with their peers. Our events encourage members to broaden horizons and develop personal relationships that further their success within the industry.

Our organization differs from others by limiting our membership to senior level executives at companies, who act as principals, whose function is to develop, acquire, sell, manage and/or finance commercial investment real estate. Our meetings and conferences provide an environment for relaxed communication within an intimate and upscale setting. We honor our relationships with each other by sharing rather than selling. As a result, REIAC is known throughout the national investment community as one of its premier associations.

History
REIAC was founded in Los Angeles in 1990. It became a national organization in 1994 with the founding of an Eastern US Chapter in Atlanta. It has grown steadily to include regional chapters in Atlanta, Boston, Chicago, Los Angeles, Phoenix and San Francisco. Each region has its own President and Board of Directors who are responsible for the meetings and activities within their geographic area, yet all regions share a common Purpose and Philosophy and abide by certain Policies and Procedures. To provide continuity among the different regions, there is a National Board of Directors, consisting of the Presidents of the various regions. REIAC now has approximately 1,000 members nationwide.

Community Service
To date, REIAC has raised over $1 million for various charities, including: Children’s Healthcare Network of Atlanta, Habitat for Humanity, The National Veteran’s Foundation and organizations serving underprivileged children and the homeless. Other community activities include: the authorship of publications addressing timely industry issues; helping women and minorities network within the group to promote their careers; and working with centers of higher learning (such the University of Southern California, Georgia State University’s Real Estate Department at the J. Mack Robinson College of Business and GSU’s Real Estate Alumni Group) to induct industry icons into the national archives at the USC Lusk Center Real Estate Hall of Fame and the REIAC/GSU Hall of Distinction. REIAC also has several ongoing partnered events and initiatives in place that provide postgraduate student education and scholarship funding.

Membership Summary
REIAC membership standards are proprietary and determined by its directors. In general, membership is by invitation only and limited to individuals who are at senior management levels of well-established real estate investment entities. These entities must be acting as principals in the areas of acquisitions, dispositions, asset management and finance.

Potential members must demonstrate the requisite experience, competence and ethics within their respective fields and have a desire to utilize their skills in a manner that will improve the community and the profession. Active regional members may participate in the activities of any regional chapter. For example, someone based on the East Coast may be responsible for West Coast operations and may therefore choose to be a member of the Los Angeles Regional Chapter.

Purpose & Philosophy
The underlying philosophy of REIAC is that communication and the candid sharing of insights and experiences builds foundations for wiser and more prudent investing, thereby allowing its members to better serve their own operations, financial intermediaries, private investors and pension fund clients. This ultimately promotes healthier competition and a more stable investment environment, which, in turn, leads to a healthier real estate economy on the whole.

Overall, REIAC seeks to improve the investment management arena through an increased awareness of the following (partial list): • Areas of investment opportunities • National and local economic conditions and market trends • Financing trends and design • Risks and rewards associated with specific property types and structures • Techniques to improve the cost-efficiency of operations • Optimal staffing and technical support • Risk assessment and appropriate underwriting

REIAC Guidelines & Policies

• All members are entitled to full participation in all REIAC meetings, discussions and activities.
• All ideas and information exchanged is public. No confidential disclosures are to be made.
• No agreements are to be entered into between REIAC members regarding price fixing, group boycotts, or plans to collectively act in a manner that could impair fair market competition.
• Membership is open to all qualified individuals, without discrimination as to employer, affiliation or other grounds prohibited by law.
• Members of one chapter are entitled to attend events of other chapters, subject to any costs that may be customarily assessed.

Becoming a Memeber of REIAC
As a private, nonprofit association, membership is offered through invitation only. Ordinarily, the process is initiated when an existing member invites a prospective new member to one of our conferences or events. Afterwards, if the candidate desires to become a member, he or she applies for membership to the Board of Directors. This requires submitting an application with an attached resume or biography tracking the person's professional experience and education. Prior to the next meeting, officers of REIAC convene to approve candidates for membership, which includes an assessment of whether the prospective candidate meets all of the requisite criteria to become a member. Upon approval, the new member is invoiced for annual dues.

To be a full member, the individual must be directly affiliated with a "principal" entity. This excludes brokers, third-party property management companies, service providers, vendors, accountants and law firms. (The only exception to this is provided below, for select Advisory Committee Members, Affiliate Members and Sponsors.) We define "principals" to include:

• Registered Investment Advisors (RIAs) possessing the discretion to invest on behalf of endowments and pension funds
• Banks, life companies and other financial institutions and intermediaries
• Owners and developers actively involved in significant real estate transactions
• Operators of real estate investment funds
• REITs and other structured public and private entities and partnerships

The entity represented by the individual must be involved in significant real estate investment activity, with a portfolio of acquired assets and/or discretionary capital to invest in the amount of at least $50 million.

The individual's responsibilities should involve real estate transactions in one or more of the following areas:

• Acquisitions
• Dispositions
• The origination, purchase or sale of real estate debt
• National or regional management oversight of an asset portfolio whereby he or she has a vested interest in keeping abreast of the transactional side of the industry
• The advising of public and private pension funds, financial intermediaries and institutions

The individual must have at least 10 years of working experience in the commercial real estate industry and must hold a senior position within his or her respective firm or entity. Typically, this would mean starting at the Vice President or Director level. The reason behind this seniority requirement is that junior associates and analysts are not generally engaged in the same activities as are the more senior members. And, these more junior individuals are eligible for already established organizations more suited to the younger, less experienced professional. It should be noted, however, that REIAC does have active programs in place to encourage and fund the professional development of graduate and postgraduate real estate students at several colleges and universities.

The individual must have a solid reputation in the industry for dealing in good faith and maintaining the highest standards of conduct.

REIAC has an Advisory Committee and a special provision for Affiliate Membership, which may include a few select individuals and Sponsors who do not meet all membership criteria. These individuals, who are voted into the Advisory Committee or are accepted as Affiliate Members by the Board of Directors, provide insight, guidance and financial and/or human resources to REIAC and assist in the maintenance and funding of operations and the development of high-caliber events.

Other REIAC Membership Policies

• Membership is granted on an individual basis; there are no corporate memberships. Each prospective member is admitted solely on his or her own merits.
• Memberships are non-transferable.
• Members may not send alternates to functions.
• Members may invite guests to functions providing: a) the guest meets the criteria for membership set forth above, and b) the conference or meeting planner indicates there is enough space (a fee may be requested by the planner to defer the additional cost).
• REIAC recognizes that the real estate industry is cyclical and mergers, downsizing and restructuring are affecting more and more executives. For those members in good standing, REIAC is dedicated to assisting them in relocating to a new position. REIAC will NOT terminate membership due to layoff.

Maintenance and Termination of Membership

• All members are expected to pay their annual dues in a timely manner, upon receiving invoices. Memberships are terminated when members fail to pay their annual dues.
• Membership will be terminated if a member changes position from that of principal to service provider, vendor or agent (except as indicated above).
• Membership will be terminated if the member flagrantly violates policies surrounding membership and/or membership conduct.
• Once membership has been terminated pursuant to any of the reasons outlined herein, the individual must reapply for membership. His or her application will then be reviewed in accordance with their current position and status in the industry.

Sponsors
Each REIAC chapter has one or more Sponsors, who provide financial and administrative support to the chapter. The Sponsors are selected and approved by the Board of Directors on an ad hoc basis and can be companies of qualified REIAC members, or third-party providers to the industry (with the exception of brokerage companies). In the case of vendors acting as Sponsors, the intent is to allow our Sponsors to build strong friendships with our membership, without the hard sell present in other organizations. Every effort is made by the Board of Directors to choose Sponsors who will enhance the REIAC members’ experience and to avoid duplication of the Sponsor’s type of company within the chapter. See Sponsor section of this website for information on current sponsors.