Less than 1% of senior-level C-Suite executives are persons of color. Recognizing the need to racially diversify the commercial real estate (CRE) industry, a virtual summit on the subject will take place Saturday, Nov. 14, from 10 a.m. – 4 p.m. The event will feature world class CRE professionals who will share their success stories and demonstrate strategies to help communities of color succeed in commercial real estate, real estate investment, technology, opportunity zones and more.
The Diversity in Commercial Real Estate (DCRE) Virtual Summit, powered by New York City-based Avant-Garde Network, is expecting about 500 participants nationwide. To register, visit diversitycrec.com.
Some of the other subject areas to be covered include real estate acquisitions, financing and other nationwide commercial real estate initiatives and policies.
Speakers will include representatives from a cross section of major cities in the U.S., including Don Peebles, Tammy K. Jones, H. Jerome Russell and Buwa Binitie. The opening conversation will feature Peebles, developer of the first Black-owned resort-style luxury hotel in Miami Beach, the Royal Palm Hotel.
Peebles is trying to raise $500 million for a real estate investment fund directed at women and minority developers, an effort he began in mid-2019. He shared his frustrations about being Black in the real estate industry in a recent WLRN interview on the outlet’s “Sunshine Economy” podcast.
“There shouldn’t be this idea that in order to do business with African Americans, you have to take on a less valuable project or a riskier investment or an inferior product. You should be able to do business with them the same way you do with white investors – look at the deal first.”
Peebles is CEO of New York-based Peebles Corporation, which boasts a multibillion portfolio of properties in New York, Boston, Philadelphia, Miami, Washington, D.C., and Los Angeles.