Skip to main content


Inside Access to Real-Time Industry Advocacy

Virtual IPASummit brought together thought leaders from the IPA community and key members of Congress and their staff to advance critical industry advocacy initiatives on behalf of the industry. The four-day event featured updates from the IPA and our lobbying partners, GrayRobinson (based in Washington, DC), on the current political and regulatory environment, along with interviews with Congressional members.

Watch recaps of our virtual meetings with Members of Congress and Congressional staff on the following priority topics impacting our industry:

1031 Like-Kind Exchanges


COVID Rental Assistance

Retirement Security


MEMBERS ONLY:  All video replays are available to IPA Members only . To request access to all replays, please email us at


MONDAY, MAY 17, 2021

IPASummit 2021 Kick-Off

Watch as we kicked-off our virtual IPASummit with an all-member update, an overview of topics covered with Congressional staff throughout the week and exclusive interviews.


Introduction and Kick-Off

Tony Chereso
President & CEO,

Leon Volchyok, IPA Chair,
Managing Director,

Fireside Chat with Congressman Jason Smith (R-MO)

Congressman Jason Smith (R-MO)
Member, House Ways and Means Committee and the Budget Committee

Keynote Speaker Frank Kelly

Frank Kelly, Head of Government & Public Affairs for North and Latin Americas: Frank manages and coordinates relationships with elected officials and political and legislative bodies globally. Prior to joining Deutsche Bank, Frank held senior executive positions at both Charles Schwab & Co. and Merrill Lynch & Co, Inc. Before joining the private sector, he served at the U.S. Securities and Exchange Commission as Chief Spokesman as well as the US Department of Justice as Assistant to the Director for Policy Development where he focused on international matters including terrorism and war crimes. Prior to these posts, he served in both the George H. W. Bush and, earlier, the Reagan White House where he started as a writer for President Reagan. Frank is a member of the Council on Foreign Relations and the International Institute of Strategic Studies. He serves as a member of the Board of Directors of the Atlantic Council of the United States, the American Council on Germany and the Jerome Lejeune Foundation.


Frank Kelly
Head of Government & Public Affairs for
North and Latin Americas, DWS

Introduction By:
Todd Henderson
Global Head of DWS’s RREEF real estate businesses


TUESDAY, MAY 18, 2021


Stanger Market Update – Q1 2021 Insights

As we wrap up the first quarter of 2021, watch Robert A. Stanger’s Kevin Gannon for a comprehensive overview of the dynamic changes taking place as 2021 unfolds. Kevin provided a comprehensive recap of year-to-date industry performance data. Driving factors behind the latest numbers and take an in-depth look at the continued resiliency of the portfolio diversifying investments industry, while also discussing what is in store for the remainder of 2021.

Kevin Gannon
Chairman and CEO,
Robert A. Stanger & Company, Inc.  

StraightThrough Processing Workshop – Efficiency, Automation, Security

Watch our panel of experts to learn how straight-through processing (STP) solutions automate front, middle and back-office functions to reduce errors, deliver a faster subscription process, and a superior experience for investors and advisors. What once may have taken several days can now be handled in hours. A robust STP infrastructure gives distribution partners more time to focus on growing their business and driving advisor efficiency while improving security and compliance controls. Investors benefit from a simplified, secure, and paperless process. The IPA is excited to introduce our new STP portal, a single location to learn more about subscription automation and the IPA members who are making straight-through-processing a reality.

Todd Lockwood, 
Senior Vice President, Operations & Shareholder Relations, CIM

Christopher Blanchard
Senior Director,
Fidelity Investment

Mark Lancaster
President & Chief Executive Officer,
Great Lakes Fund Solutions, Inc.

Chrissy Lee
President & Chief Operating Officer,
Kalos Financial

Jay Frank
Chief Operating Officer,
Cantor Fitzgerald Investment Management

Bill Robbins
Chief Executive Officer,

Powerful Economic Activity Supported by 1031 LKEs – A Dive into the EY Economic Impact Study

Ernst & Young (“EY”) partnered with the Section 1031 Like-Kind Exchange Coalition (“Coalition”) to estimate the 2021 economic contribution of  the like-kind exchange rules within the US economy. The IPA is proud to have the leading author of the research and two influential Coalition members discuss this important study.

The research demonstrates the powerful contributions of like-kind exchanges to the greater US economy, including employment, wage, consumer spending, and GDP activity.

Tony Chereso

President & CEO, IPA

Suzanne Goldstein Baker
Executive Vice President & General Counsel,
Investment Property Exchange Services, Inc.

Robert Carroll
Principal US National Tax Co-LeaderQuantitative Economic and Statistics, Ernst & Young LLP

Ryan McCormick
Senior Vice President & Counsel,
The Real Estate Roundtable



Wealth Management Benefits of 721 Exchange / UPREIT Transactions

The 721 exchange / UPREIT is a wealth management solution that benefits owners of real estate seeking an exit strategy and the opportunity to diversify their real estate holdings, while deferring capital gains.  Section 721 of the Internal Revenue Code allows real estate owners to convert, tax-deferred, their physical property into units of an operating partnership of a REIT using an Umbrella Partnership Real Estate Investment Trust (UPREIT) structure. The 721 exchange / UPREIT is an alternative solution to a traditional 1031 exchange.

Using a 721 exchange / UPREIT may be a preferred tax mitigation strategy, especially for property owners with a low tax basis where a sale could potentially trigger a substantial capital gain. It also can be used as an estate planning tool that disposes of real estate tax-free to provide equitable liquidity among heirs. 721 exchanges / UPREITs may be an alternative investment management tool to explore. Watch as our panel discussed which types of investors may find this transaction beneficial, how it is structured and different from a 1031 exchange, and why publicly registered non-traded REITs, as perpetual life vehicles, may be particularly helpful to investors who may wish to defer the recognition of a capital gain in perpetuity.


Mike O’Toole
Advisor, DAI Securities

Kevin Shields
Chairman and CEO,
Griffin Capital Company

Jeff Taylor, CFA
Managing Director, Chief Operating Officer,
Black Creek Group

Aaron Wessner
Managing Director,
Cantor Fitzgerald Investment Management

Top 10 Regulatory and Tax Risks for Private Real Estate Funds

Private funds are subject to many regulatory and tax related risks.  The unique characteristics of fund assets must be evaluated when assessing the various risk profiles and tax implications.  Understanding these critical details for any fund manager considering a real estate strategy is paramount.

We take a closer look into three types of funds: “plain vanilla” real estate, QOZ Funds, and DSTs.  We will address the primary pit falls such as faulty securities offers, the inadvertent ways to negate your DST tax status, joint ventures that mistakenly drag the fund into being an investment company, as well as other issues.  Join a panel of legal and real estate subject matter experts as they share insights on what you need to consider when launching and operating a private real estate fund.


Jason Goode
Partner, Alston & Bird LLP

Deborah Froling
Kutak Rock LLP

Daniel Cullen
Baker & McKenzie LLP

Darryl Steinhause
DLA Piper

Steven Meier
Partner & Chair of Seyfarth’s Corporate Department, Seyfarth Shaw LLP


THURSDAY, MAY 20, 2021

IPASummit 2021 Wrap-up: Featuring Guest Speaker Jon Boughtin / Hill Meeting Debriefs

Guest Speaker Jon Boughtin

Jon Boughtin is the executive and political director of the New Democrat Action Fund, the political action committee which supports members of the House New Democrat Coalition. The New Democrat Coalition is a group of moderate, pro-business, pro-growth members of Congress. As the largest grouping of Members in the House majority, the New Democrats are influential and instrumental on any key vote of President Biden’s agenda.

Jon discussed the importance of the mid-term election where Democrats will seek to keep and grow their narrow majority and the impact of redistricting and President Biden’s agenda on key Congressional races throughout the country.


Jon Boughtin
Executive and Political Director
New Democrat Action Fund

Anya Coverman
SVP, Government Affairs & General Counsel,

Hill Meetings Debrief

Hear recaps from GrayRobinson (the IPA’s D.C. lobbying firm) and IPA members of our virtual meetings with Members of Congress and Congressional staff on the following priority topics impacting our industry:

  • 1031 Like-Kind Exchanges: IPA’s 1031 LKE Team discussed the importance of preserving in its current form 1031 like-kind exchanges for real property in any future tax policy legislation.
  • FIRPTA REIT Parity: IPA’s FIRPTA Parity Team will seek cosponsors of new legislation providing the same exception for foreign shareholders of publicly traded REITs to foreign shareholders of public, non-listed REITs.
  • COVID Rental Assistance: IPA’s Rental Assistance Team discussed the importance of ensuring the proper disbursement and allocation of emergency rental assistance for both landlords, tenants and investors.
  • Retirement Security: IPA’s Retirement Team discussed alternative asset strategies in defined contribution and other retirement plans and opportunities for future legislative packages.

Doyle Bartlett
Managing Shareholder,

Christopher McCannell
Senior Government Affairs Consultant,

Gregory Mesack
Senior Government Affairs Consultant,

Closing Remarks

Tony Chereso
President & CEO,

Anne-Marie Vandenberg, IPA Chair-Elect,
President, COO and Director
DWS RREEF Property Trust