2017 ANNUAL REPORT · Progress Together Linda McMahon, The Real Estate Council PRESIDENT & CEO Greg Kraus, Invesco Real Estate 2017 TREC CHAIRMAN IT IS BOTH HEARTWARMING AND HUMBLING

2 0 1 7A N N U A L R E P O R T

ProgressTogether

Linda McMahon, The Real Estate Council PRESIDENT & CEO

Greg Kraus, Invesco Real Estate2017 TREC CHAIRMAN

IT IS BOTH HEARTWARMING AND HUMBLING FOR ME TO REFLECT ON ALL THE REAL ESTATE COUNCIL ACCOMPLISHED IN 2017. I am grateful to have led this organization through a year of tremendous change and opportunity, knowing that the progress we made will leave a positive and lasting impact on our city for years to come.

To say that 2017 was a “big year” for The Real Estate Council would be an understatement. Our organization exceeded 2,000 members – with about half comprised of Young Guns – and our educational

programs saw record-breaking attendance. We continued to receive the support of our Legacy Leaders, who during Giving Gala presented a $100,000 grant to Jubilee Park & Community Center for the creation of a program offering South Dallas residents job training in construction and security. TREC Community Fund’s first-ever Shark Tank event yielded $2.1

million toward three projects located within the city’s GrowSouth footprint from a panel of five seasoned commercial real estate investors. TREC Foundation introduced a new fundraising model that led to the creation of the Dallas Catalyst Project, and by year’s end our members voted on the Forest District Revitalization initiative as the recipient for the initial $1 million investment and began scoping out the work needed to bring the project to life.

Those are just some of the highlights. I am perhaps proudest of the fact that all of the successes we enjoyed as an organization last year – successes that have continued into 2018 – could not have been possible without the hard work, dedication and generosity of our members and their companies. In many ways, our work has only just begun, but I am thrilled to see what the future holds and how we’ll continue to Build the City You’ve Imagined.

MY POSITION WITH THE REAL ESTATE COUNCIL GIVES ME IMMENSE JOY because it’s granted me the opportunity to work closely with all of you. You are all amazing individuals whose passion for our community shines in everything you do. We had such a big year in 2017 – and accomplished so much – because of the tireless efforts of our members and leaders.

As chairman, Greg Kraus helped shape TREC’s future amid a year of new and wonderful opportunities. Ran Holman, in his role as TREC Foundation chair, led us through a massive shift in our philanthropic philosophy that led to the creation of Dallas Catalyst Project and our three-year commitment to invest our resources in one neighborhood. The 2017 Associate Leadership Council class exceeded fundraising and project goals at seemingly every turn, renovating the Harmony Community Development Corporation’s food pantry and helping feed countless Dallas residents.

Rod Washington, as chair of TREC Community Fund, supported our growth as we jumped into the deep end of Shark Tank. We had so much fun with Mark Cuban, Dallas Mayor Mike Rawlings, and the five adventurous and committed Sharks who made a major investment in the entrepreneur developers that wanted to GrowSouth with us. Michael Dardick, Craig Hall, Bill Cawley, Frank Mihalopoulos and the GrowSouth Fund’s Tillie Borchers turned an entertaining evening into an opportunity of a lifetime for our three developer finalists.

For the second time in TREC history, a family chaired FightNight. The Billingsley Family did a stellar job and had a lot of fun doing it. The night in Havana was a truly fun evening that helped raise money for our Foundation. We set the sky ablaze with fireworks to Ignite the Night during another big Giving Gala, chaired by Barry Olson of Goldman Sachs. HFF’s Teddy Leatherman chaired an amazing Casino Night as our Young Guns showed their love of our city with their project at the Aberg Center for Literacy.

While it’s true that we know how to throw a party, we also know how to make an impact. Our Public Policy Committee exceeded 100 members who researched and provided recommendations on everything from DART and access to transportation to housing affordability and development improvements. Shawn Todd, our Public Policy chair, led this ever-growing group in our recommendations to make Dallas the best place to do business. Our PAC chairman, Jim Knight, led a contingent to Austin during the State Legislative Session as we made sure our representatives know what economic impact commercial real estate has on the state’s economy.

I would love to list every one of you who has made an imprint on my heart, but there are simply too many of you to name. I am so fortunate to work with a great team of TREC staff and I am more than blessed to work with all of you who not only love this industry but love our region and want to join us to Build the City You’ve Imagined.

To say that 2017 was a “big year” for The Real Estate Council would

be an understatement.Greg Kraus, 2017 TREC CHAIRMAN

You are all amazing individuals whose passion for our community

shines in everything you do.Linda McMahon, TREC PRESIDENT & CEO

2017 Board Members

Chairman Greg Kraus, Invesco Real Estate

Chairman-Elect Ran Holman, Cushman & Wakefield

Treasurer Courtney Naudo, Deloitte.

Secretary Vicky P. Gunning, Locke Lord LLP

ALC Class of 2017 Chair Evan L. Beattie, GFF

ALC Class Representative Tyler Berns, Frank Dale Construction Ltd.

ALC Class of 2018 Chair Rick Perdue, Mill Creek Residential Trust LLC

Leadership Alumni Chair Justin L. Goertz, Marvin F. Poer and Company

FightNight Chair The Billingsley Family

Giving Gala Chair Barry J. Olson, Goldman SachsLeadership Development Chair

Katy Slade, Gables ResidentialMembership Chair

Tom Bakewell, StreetLights Residential

PAC Chair James Knight, Stantec

Program Chair David Evemy, Sarofim Realty Advisors

Public Policy Chair Shawn Todd, Todd Interests

Young Guns Chair Jay Dreiling, Beck Group

Sue Ansel, Gables ResidentialJim Berry, Deloitte.

Diane Butler, Butler AdvisersWill Cureton, CLB Partners

Michael Dardick, Granite PropertiesDavid Deniger, Olympus Real Estate Partners

Tony Dona, Thackeray PartnersRobert Feldman, UCLA School of Law

Mark Gibson, HFFJoe Griffith, JPMorgan

David Gruber, MetroAmerican Developers, LLCChancellor Lee Jackson, University of

North TexasBill Kramer, Republic Title of Texas, Inc.

Holt Lunsford, Holt Lunsford CommercialLinda McMahon, The Real Estate CouncilWill Mundinger II, WM2 Company, LLC

Paul Rowsey, Longbrook CapitalKen Sandstad, The Sandstad Group, LLC

Frank Schubert

John Scovell, Woodbine Development CorporationBill Sechrest

Calhoun, Bhella & Sechrest, LLPJeff Swope, Champion Partners

Ken Townsend, Boulevard BuildersMichele Wheeler, Jackson-Shaw

Todd Williams, Commit!Karl Zavitkovsky

Jim Berry, Deloitte.

Diane Butler, Butler Advisers

Michael Dardick, Granite Properties

Tony Dona, Thackeray Partners

Mark Gibson, HFF

Ran Holman, Cushman & Wakefield

Greg Kraus, Invesco Real Estate

Will Mundinger II, WM2 Company, LLC

Paul Rowsey, Longbrook Capital

Jeff Swope, Champion Partners

Michele Wheeler, Jackson-Shaw

Manny Ybarra, Pillar Commercial

John BartlingJoel Behrens, Trammell Crow Company

Eric Beichler, Mohr PartnersKim Bonfield, KDC

Shane M. Bowen, Bank of America Merrill Lynch

Bill Brokaw, Hillwood UrbanKim Butler, HALL Group

Glenn Callison, Munsch Hardt Kopf & Harr P.C.

David Carroll, JLLDodge Carter, Crow Holdings Capital

Partners L.L.C.John W. Cullins, EY

Jim Curtin, HFFVance Detwiler, Prescott Realty Group

Dan H. Easley, Bank of TexasJeff Erxleben, NorthMarq Capital

Steve Everbach, Colliers InternationalGreg P. Fuller, Granite Properties

Duncan T. Fulton, GFFPaul N. Geyer, PGIM Real Estate Finance

Sam A. Gillespie, Invesco Real EstateGerry Hedgcock, Crow Holdings Capital

Partners, L.L.C.Danny Hertel, KPMG

Sarah Hinkley, Thirty-Four Commercial Inc.

Chris Hipps, CBRETodd C. Howard, th+a Architects, Inc.

Jim Johnson, BMO Harris BankKevin L. Kelley, Gardere Wynne Sewell, LLP

Eric E. Krueger, Balfour Beatty ConstructionDallas Lucas, TIER REIT Inc.

Ramsey March, Stream Realty PartnersFrank Mihalopoulos, Corinth Properties

Kevin W. Murry, Regions BankClark Pulliam, Chicago Title Company/Fidelity

National Financial (FNF)Scott Rohrman, 42 Real Estate LLCAlan Shor, The Retail Connection

Neal D. Sleeper, Cityplace CompanyDrew Steffen, Hines Interests, LP

Kristian Teleki, Matthews SouthwestMichele Wheeler, Jackson-Shaw

Paul Wittorf, Transwestern

Chairman Ran Holman, Cushman & Wakefield

Secretary Vicky P. Gunning, Locke Lord LLP

Assistant Secretary Tobin Swope, Winstead PC

Treasurer Courtney Naudo, Deloitte.

Assistant Treasurer Robin Offutt, Deloitte.

ALC Class of 2017 Chair Evan L. Beattie, GFF

ALC Class of 2018 Chair Rick Perdue, Mill Creek Residential Trust LLC

ALC Class Representative Lauren Goodman, Invesco Real EstateLeadership Alumni Representative

Nathan P. Nash, Steeplechase Ventures, LLCFightNight Chair

The Billingsley Family

Giving Gala Chair Barry J. Olson, Goldman Sachs

Grants Chair Sarah Hipp, Opportunis Advisors

Metrics Chair David A. Owen, Arthur J. Gallagher &

CompanyProfessional Services Chair

Joseph Chu, Thackeray PartnersYoung Guns Vice-Chair

David Eseke, Cushman & WakefieldAllison Austin, ORIX Real Estate AmericasLindsay A. Billingsley, Alliance Residential

CompanyKimberly Byrum, Meyers Research, LLC

Travis C. Ewert, Colliers InternationalMichael Geisler, Venture Commercial Real

Estate, LLCGilbert Gerst, BOK Financial

Patricia L. Gibson, Banner Oak Capital Partners, LP

Nathan Golik, NexCore GroupKim Hogan, StreetLights Residential

Alex John, HKSKim W. Kittle, Bank of Texas

Melissa Labor, Granite PropertiesKris L. Lowe, HFF

Kevin B. Meeks, BB&TWilliam G. Mundinger III, Crow Holdings

IndustrialPatrick Ramsier, LegacyTexas

Mark Roppolo, HFS Capital PartnersNathan Schubert, Crow Holdings Capital

Partners, L.L.C.Courtney Emich Spellicy, Austin Commercial

Deren Wilcox, Alston ConstructionJonathan Wood, GFF

Chairman Rod Washington, Frost Bank

Treasurer Chad Schieber, Beck Group

Vice Chair Troy Daniel, Thackeray Partners

ALC Class of 2017 Representative Clay Pickering, The Retail Connection

Leadership Alumni Representative Dustin Dulin, JLL

Loan Committee Chair Ryan Panariso, Lincoln Capital Management, LLC

Young Gun Representative Jessica Straley, Winstead PC

Kate A. Cavanaugh, Stewart TitleAaron Echols, Frost Bank

Ces Escamilla, BB&TJoseph F. Griffith, JPMorgan

Shery R. Layne, Comerica BankJoel S. Schubert, Miramar Holdings

Matt Siekielski, NexBankYelda D. Tuz, Bank of America Merrill Lynch

Judith Collins, Small Business Development CenterChristian Evans, Goldman Sachs

Paige Flink, The Family PlaceLibbie Lee, Golden SEEDS Foundation

Christopher Lewis, Nokia Networks

Roy Lopez, Federal Reserve Bank of DallasDenise Mason, BBVA Compass

Greg May, Preston Hollow CapitalEmmanuel Obi, The Obi Law Firm

Dora Ramirez, Wells Fargo Bank

Ken Smith, Revitalize South Dallas CoalitionJamie Vasquez, Woodforest Bank

Cynthia Yung, The Boone Family Foundation

Chairman James Knight, Stantec

Vice Chairman Shawn Todd, Todd Interests

Assistant Treasurer Courtney Naudo, Deloitte.

Ex-Officio Greg Kraus, Invesco Real Estate

ALC Class Representative Britton Church, JLB Partners

Leadership Alumni Representative Courtney Emich Spellicy, Austin Commercial

Leadership Alumni Chair Justin L. Goertz, Marvin F. Poer and Company

Young Guns Representative Ryan J. Garcia, Liberty Multifamily

Robert H. Bennett, Thackeray PartnersDonald L. Braun, HALL Group

Kevin Bryant, Crow Holdings Capital Partners, L.L.C.

Glenn Callison, Munsch Hardt Kopf & Harr P.C.John W. Cullins, EY

David W. Gleeson, GRAA Investments, LLC

Suzan Kedron, Jackson Walker L.L.P.Frank Mihalopoulos, Corinth PropertiesJudson L. Pankey, Prescott Realty Group

Mitch Paradise, Paradise Development PartnersDeborah C. Ryan, Squire Patton Boggs LLP

Neal D. Sleeper, Cityplace CompanySean Tate, Wick Phillips, LLP

L E G A C Y L E A D E R S

B O A R D O F A D V I S O R S

T R E C E X E C U T I V E B O A R D

T R E C B O A R D

T R E C F O U N D A T I O N B O A R D

T R E C C O M M U N I T Y F U N D B O A R D

T R E C C O M M U N I T Y F U N D A D V I S O R Y B O A R D

P A C B O A R D

Membership2,040members

620member companies

550new members

936Young Guns members

$1,045,214revenue, a 7 percent increase

above 2016

ProgramsBank of Texas Speaker Series 1,300 ATTENDEES

2017 topics included: the challenges facing Texas cities, the Federal Reserve’s role in the national economy’s recovery and the Dallas Catalyst Project

Industry Insights 700 ATTENDEES

2017 Topics included: High Net Worth & Family Office, Institutional Capital, Capital Markets and Heavy Hitters in Office & Industrial

Power Hour 120 ATTENDEES

2017 innovative development site tours included: Toyota North America’s headquarters, Perot’s Turtle Creek campus, Hilti North America’s test site and Dallas High School

Webinars 120 ATTENDEES

2017 Webinars took an in-depth look at industry topics, including: emerging technologies, public policy, leadership development and market updates

C Circle 30 ATTENDEES

Our two CEO-level programs reflected on leadership and industry trends

Young Guns Programs OVER 650 ATTENDEES

TREC hosted several programs and panels in 2017 aimed at mentoring young professionals and developing the leaders of tomorrow. Young Guns programs included: About Town tours, Rising to the Top, Forum & TREC Breakfast Groups

EducationalIn 2017, we hosted more than 20 educational programs to help our members stay informed on the latest industry, city, and regional development trends. Our Programs Committee also successfully planned the launch of our new podcast series, The TREC Podcast.

DevelopmentLeadership

DEVELOPING THE LEADERS OF TOMORROW

IN 2017, TREC

Welcomed our 22nd Associate Leadership Council (ALC) class Conducted our 2nd Executive Leadership Council (ELC) class Paired our sixth group of mentees for our Mentorship Program Launched the Talent Capital Forum for HR executives within the

commercial real estate industry Rebranded our ALC Alumni to Leadership Alumni to foster collaboration

between ALC and ELC graduates

In August, Leadership Alumni took a hard-hat tour of the Park District construction site.

B. Allison Brooks, B2 Architecture + DesignJosh A. Hedderich, Lexington Realty Trust

Kevin Kramer, DPR Construction, Inc.Karyn Martin, Interprise Design

Scott Rohrman, 42 Real Estate, LLCBeth Zayicek, Invesco Real Estate

Sumner Billingsley, Billingsley CompanyJason Burke, Granite Properties

Lance Buxkemper, Bank of America Merrill LynchAaron T. Capps, Griffith Davison & Shurtleff, P.C.

Heath Cheek, Bell Nunnally & Martin LLPMichael Cosby, HFF

Brandon Davis, KPMGAaron Echols, Frost Bank

Laura Eder, GFFJason Hauck, Trinsic Residential Group

Mark Hayes, Stream Realty PartnersCorinne Hoffman, L&B Realty Advisors

Katy Jane Jenevein, Eastdil SecuredAnna Johnson, Perkins+Will

Andrew Kastanos, StreetLights ResidentialRyan Koch, Pacheco Koch Consulting Engineers, Inc.

Zachary Lamp, HKSHolden Lunsford, Holt Lunsford Commercial

Todd Marchesani, Frontier EquityTaylor Pearce, Harbert Management Corporation

Ross E. Ruschhaupt, RBC Capital MarketsBrian N. Smith, TRT Holdings, Inc.Chelsea Story, Colliers InternationalDrew Tappan, Invesco Real Estate

Caleb Trotter, Munsch Hardt Kopf & Harr P.C.Brian Webster, KWA Construction

Jeff Wood, Peloton Commercial Real EstateTara Worthey, Todd Interests

Zach Wszolek, Goldman SachsChris Young, Comerica Bank

A S S O C I A T E L E A D E R S H I P C O U N C I LC L A S S O F 2 0 1 7

E X E C U T I V E L E A D E R S H I P C O U N C I LC L A S S O F 2 0 1 7

Class of2017

Public PolicyPAC &

Over 100 members served on the Public Policy Committee and hosted over 50 meetings, working group sessions and briefings on:

Dallas’s pension crisis

Development process improvements

Transportation

Affordable housing

Tree mitigation

Park land dedication ordinance

State legislative issues

The PAC interviewed candidates for the Dallas City Council and school board elections and contributed $43,000 to state and local political campaigns.

TREC POLICY VISION AND GUIDING PRINCIPLES:To achieve TREC’s vision of a world-class and livable North Texas region for all, TREC advocates for public policies which promote long-term economic growth and vitality as well as quality of life across the region. We engage in policy issues which impact the commercial real estate industry and the public good in a significant way to Build the City You’ve Imagined.

Fifteen members of our PAC and Public Policy committees traveled to Austin as part of Commercial Real Estate Lobby Day. Our members spent over 50 hours reviewing 100-plus bills impacting the commercial real estate industry.

FundTREC Community

2017 HIGHLIGHTS Hosted two ribbon-cutting events, including a grand opening block party for Recipe

Oak Cliff, a “food security house” Constructed an in-depth marketing and communications strategic plan Volunteers provided 676 development services hours valued at $216,000 Raised approximately $242,000 in grants and secured $600,000 in debt capital

In April, TREC Community Fund

helped celebrate the grand opening of Recipe Oak Cliff with a ribbon-cutting ceremony and

block party.

TREC Community Fund’s inaugural Shark Tank event featured an opening keynote conversation between (from left) WFAA’s Demond Fernandez, Dallas Mayor Mike Rawlings and Dallas Mavericks Owner Mark Cuban.

IN NOVEMBER, TREC COMMUNITY FUND HOSTED THE FIRST TREC SHARK TANK: GROWSOUTH EVENT, a live pitch competition highlighting investment and economic opportunities within Southern Dallas. Development teams were invited to submit commercial real estate project proposals to TREC that were gradually narrowed to three finalists who were mentored by seasoned industry professionals and graduates of our Associate Leadership Council class. Our finalist teams pitched to a panel of commercial real estate investors before an audience of more than 750 guests and each received investment deals totaling more than $2.1 million.

PRESENTING SPONSOR: NexBank | LEAD SHARK SPONSOR: JPMorgan Chase | MEDIA SPONSOR:WFAAEVENT SPONSORS: Matthews Southwest, Purepoint Financial, Civitas Capital

Held at Gilley’s Dallas, the inaugural TREC Shark Tank yielded $2.1 million in investment for three projects seeking to grow economic development opportunities in Southern Dallas.

TREC FoundationBY THE NUMBERS

GRANTS TREC Foundation’s Legacy Leaders

matched a $100,000 grant to Jubilee Park & Community Center

$10,000 to Commit! $25,000 to ScholarShot

PROFESSIONAL SERVICES 100 Volunteers 1,779 hours of professional services valued

at $440,000 Donated hours to over 30 nonprofits

VOLUNTEER PROJECTS Fifty volunteers helped complete the

Young Guns project to renovate the Aberg Center for Literacy and sourced over $60,000 in in-kind donations

Young Guns volunteer projects – 120 participants over four work days

Approximately $200,000 in grants and professional services was donated for the ALC’s class project to renovate the Harmony Community Development Corporation’s food pantry

On October 17, our Young Guns helped cut the ribbon of their Foundation Project: Renovations to the Aberg Center for Literacy.

Dallas

Catalyst ProjectFOLLOWING A STRATEGIC PLAN THAT DELOITTE. FACILITATED WITH THE TREC FOUNDATION BOARD IN EARLY 2017, the Foundation introduced a new philanthropic initiative to focus on a single Dallas neighborhood with collaborating partners seeking to address a specific community challenge. From this plan, the Dallas Catalyst Project was born.

A three-year, $1 million TREC Foundation initiative to Ignite

Positive Community Change 155 partnering organizations submitted 38 applications A member vote in November selected the winning

collaboration

The Forest District Revitalization initiative, with partnering community organizations CitySquare, St. Philip’s School & Community Center and Cornerstone Baptist Church, was selected as the recipient of the inaugural DCP grant. The project includes restorations of the iconic theater and a retail space on Martin Luther King Jr. Boulevard as well as exterior improvements to Cornerstone Baptist Church.

The iconic Forest Theater will be renovated as part of the inaugural Dallas Catalyst Project.

FoundationEvents

WHAT A GREAT YEAR FOR OUR FUNDRAISING EVENTS IN 2017! Each of our events exceeded their fundraising goals thanks to the generosity of our donor members and companies. We could not have accomplished our goals without them and their contributions will help Build The City You’ve Imagined.

$113, 286

$605,000

$1.4 M

EVENT AMOUNT RAISED

Proceeds from our FightNight raffle benefited the Associate Leadership Council class’s Foundation project to renovate the Harmony Community Development Corporation’s food pantry.

Investors2017 Impact

C H A M P I O N ’ S C I R C L E

C H A I R M A N ’ S C I R C L E

P R E S I D E N T ’ S C I R C L E

Bank of America Merrill Lynch/ FoundationBank of Texas

Compatriot CapitalGranite Properties

HFFJPMorganNexBank

Balfour Beatty ConstructionBillingsley Company

CBRECrow Holdings Capital Partners, L.L.C.

Deloitte.EY

Frost BankInvesco Real Estate

Jackson Walker L.L.P.JLL

KDC

KPMGLegacyTexas

Matthews SouthwestMunsch Hardt Kopf & Harr P.C.

Republic Title of Texas, Inc.Stantec

Stewart TitleStreetLights Residential

The Howard Hughes CorporationWinstead PC

42 Real Estate, LLCBank of the Ozarks

BB&TBBVA Compass/Foundation

Chicago Title Company/Fidelity National Financial (FNF)Chief Partners LPComerica Bank

Corgan Associates, IncCushman & Wakefield, Inc.

DPR Construction, Inc.Eastdil Secured

GFF

Goldman SachsHaynes and Boone, LLP

Holt Lunsford CommercialJackson-Shaw

Locke Lord LLPNorthMarq CapitalSpirit Realty Capital

Stream Realty PartnersTexas Capital BankThackeray Partners

Todd InterestsTrammell Crow Company

Carrco PaintingDrywall Interiors, LP

FauxcadesGentzler Electrical Services Inc.

Hilton Anatole Hotel

McKinney Office SupplyParmenter Realty Partners

Premier West BuildersTD Industries

Adolfson & Peterson ConstructionAECOM

AG&E Structural EngenuityAmerican National Bank of Texas

Arch-Con CorporationBank of America Plaza

BBGBeck Group

Berkadia Commercial MortgageBradford Companies

Brasfield & Gorrie, LLCCapital One Bank

Capright, LLCChampion Advisory Partners

Colliers InternationalCommunities Foundation of Texas

Corinth PropertiesCortland Partners

Davidson & Bogel Real EstateDeutsche Bank

EMJ CorporationGables Residential

Gaedeke Group LLCGardere Wynne Sewell LLP

Grant ThorntonHALL Group

Hillwood UrbanHines Interests LP

Hunt Mortgage GroupInvitation Homes

Jones DayJPI

Kane Russell Coleman & Logan PC

KeyBankKimley-Horn and Associates, Inc

Lincoln Property CompanyMohr Partners

MUFG Union Bank OMNIPLAN, Inc.Mark Gibson

Mill Creek Residential Trust LLCMohr Partners

MUFG Union BankOMNIPLAN, Inc.

ORIX Real Estate AmericasPegasusAblon Properties

Peloton Commercial Real EstatePerkins+Will

PGIM Real Estate FinancePlainsCapital BankPM Realty Group

Purepoint FinancialReal Estate Deal Sheet

Regions BankSarofim Realty Advisors

Schwob Building Companyth+a Architects, Inc.

The Retail ConnectionTIER REIT, Inc.

Trammell Crow ResidentialTranswestern

Turner Construction CompanyVinson & Elkins L.L.P.

Walker & DunlopWells Fargo Bank

Westmount Realty Capital, LLC

B E N E F A C T O R ’ S C I R C L E

P A T R O N ’ S C I R C L E

FinancialsThe Real Estate Council Inc.

Year End Actual Year 2017 Budget Revenues Membership Dues $1,045,214 $1,000,120 Membership Development Expenses ($6,037) ($14,100) Leadership Development (Net) ($10,374) ($8,187) Programs (Net) $53,736 $89,702 Public Policy ($17,057) ($70,500) Marketing Sponsorships $0 $6,000 Other Income $304,502 $284,596 Total Net Revenue $1,369,984.06 $1,287,631.00

Expenses Operating $1,199,456 $1,304,839 Total Expenses $1,199,456 $1,304,839

NET SURPLUS/(DEFICIT) $170,528 ($17,208)

TREC Foundation

Year End Actual Year 2017 Budget Revenues Events Proceeds $847,284 $810,859 Projects (Net) ($58,727) ($42,200) Other Income $671,315 $235,000 Total Net Revenue $1,459,873 $1,003,659

Expenses Operating $566,088 $604,533 Program Expenses $795,720 $326,500 Total Expenses $1,361,808 $931,033

NET SURPLUS/(DEFICIT) $98,065 $72,626

TREC Community Fund

Year End Actual Year 2017 Budget Revenues Contributions $309,037 $215,344 Loan Revenue $89,225 $0 Events (Net) $15,000 $0 Programs (Net) ($2,258) ($6,000) Marketing (Net) ($28,681) ($16,375) Total Net Revenue $382,323 $192,969

Expenses Operating $288,430 $192,951 Total Expenses $288,430 $192,951

NET SURPLUS/(DEFICIT) $93,893 $18

TREC Special Events Inc.

Year End Actual Year 2017 Budget Revenues Events (Net) $1,175,380 $1,130,599 Distributions ($981,850) ($941,855) Total Net Revenue $193,530 $188,744

Expenses Operating $182,584 $186,297 Total Expenses $182,584 $186,297

NET SURPLUS/(DEFICIT) $10,947 $2,447

Statement of activities for the period ending December 31, 2017

Linda McMahonPresident & CEO(214) 580-1681

[email protected]

Carla BrandtChief Financial Officer

(214) 692-3603 [email protected]

Holland MorrisVice President - Programs, Leadership & Culture

(214) 580-1680 [email protected]

Marcia Ebaugh-PallánEvents Manager(214) 692-3601

[email protected]

Christina GarciaExecutive Assistant/Board Relations

(214) [email protected]

Kawanise MimsTREC Community Fund Associate

(214) [email protected]

Maggie ParkerDirector of TREC Community Fund

(214) [email protected]

Cale PetersonLeadership & Programs Associate

(214) [email protected]

Bill San AntonioCommunications & Marketing

Coordinator(214) 220-1840

[email protected]

Amy StovallDirector of Membership Development

& Engagement(214) 692-3605

[email protected]

Ashley ThompsonMember Services Associate

(214) [email protected]

Bryan TonyDirector of Public Policy

(214) [email protected]

Nebiat WodereDatabase/Financial Manager

(214) 580-1674 [email protected]

Mekdes YaeAccounting Manager

(214) [email protected]

TREC Staff