May 4, 2022 | NEW YORK

Agenda- Eastern Standard Time

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8:00 am - Registration & Networking

8:45 am - Chairperson’s welcome and opening remarks

9:00 am - State of the market: analyzing the current US real estate lending landscape

  • How competitive is the real estate financing market today? What is the role of banks, debt funds, insurance companies and ‘new’ alternative lenders in the current lending landscape?
  • Assessing social, political, and economic risk: what level of risk is acceptable in today’s climate? Are lenders becoming more cautious?
  • What do the expected changes to interest rates and inflation mean for real estate debt? 
  • What is happening to pricing across the US? How does the cost of capital vary between refinancing, development, and new acquisition financing?
  • How has the US real estate and mezzanine lending markets changed since the onset of COVID-19 and what are the predictions for 2022 and beyond?

Moderator

Doug Lyons

Managing Principal

Pearlmark

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John Randall

Partner

PCCP

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Mark Fogel

Chief Executive Officer & President

ACRES Capital

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Kimberly B. McKee

Commercial Real Estate Regional Manager

US Bank

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9:45 am - Assessing real estate opportunities: looking for value across sectors, assets, and regions

  • Asset class favorites: with so much capital chasing so few opportunities, which sectors are providing the most upside? 
  • Hunting for yield: how are secondary and tertiary markets performing? What levels of returns can be expected?
  • Are industrial, multifamily, and self-storage priced to perfection?  
  • What is the outlook for office, retail, and hospitality? What is the current appetite for mezzanine lenders to (re-) finance deals in these sectors? 
  • What is the availability of debt finance for niche asset classes?

Moderator

Brad Bloom

Managing Director

Citi

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Drew Fung

Managing Director & Head of Debt Investments

Clarion Partners

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Nitin Jagga

Vice President

Goldman Sachs

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David Eyzenberg

President

Eyzenberg & Company

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10:30 am - Networking Break

11:00 am - Analyzing current mezzanine lending market fundamentals

  • How does mezzanine and high yield debt fit into the capital stack?
  • What is the current appetite for mezzanine debt: who is providing it and what are they financing? 
  • Will deal flow in the mezzanine space start to accelerate as we move out of the pandemic or is preferred equity now the go-to structure for high yield debt?  
  • What are the pros and cons of a senior subordinated structure? Is the market moving to a senior mezzanine structure? 
  • How is the rise in real estate debt funds impacting the mezzanine loan market?

Moderator

Gary Zimmerman

Senior Vice President & Chief Underwriting Counsel

UCC Plus

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Brian Carey

Executive Director

J.P. Morgan

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Tom Rugg

Managing Director

Deutsche Bank Securities

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Nick Hoffman

Partner

Haynes Boone

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Scott Schwartz

Managing Director

PGIM

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Samir Tejpaul

Principal

Square Mile Capital

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11:45 am - Borrowers’ perspective: sourcing debt in today’s crowded market

  • Traditional vs. non-traditional lenders: which do borrowers prefer and why? What are the pros and cons of each what type of financing?
  • Relationship lending: does it really exist or is lending purely transaction driven? What are the key characteristics to look for in a lender?
  • What are the biggest changes that have been seen in terms of sourcing finance since the pandemic? How easy has it been to secure funding over the past year?
  • What types of real estate are you looking to finance with mezzanine debt?

Moderator

Timothy Davis

Partner

White and Williams

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Michael Negari

Sovereign Capital NYC | Real Estate Investments

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Fred Harmeyer

Managing Principal

Rubenstein Mortgage Capital

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Peter Ginsberg

Managing Director

UBS

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Derek Sylvester

Principal

Gulph Creek Hotels

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12:30 pm - Networking Lunch

12:45 pm - Luncheon workshop

Technology’s role in the future of the real estate debt market 

  • Innovative financing platforms, crowdfunding, marketplace lending, digital lending: how will traditional lenders innovate to stay relevant?
  • How are new dynamic financing models being regulated? And what happens in a market downturn? Do new models work through a real estate cycle?
  • How can disruptive technologies make the real estate lending market more efficient?

 

Jeremy Fox

Partner

Fifth Wall

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Roundtable Discussions

2:00pm - 2:45pm

Roundtable 1: Workouts

  • What are the main challenges in structuring workouts? How does this vary between borrowers, mezzanine and senior lenders?
  • Structuring intercreditor agreements
  • Barriers to enforcement actions in a post-pandemic environment.

Roger Yoo

Director

Granite Point Mortgage Trust

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Roundtable Discussions

2:00pm - 2:45pm

Roundtable 2: Structuring in the mezzanine market

  • Best practice: structuring loans to protect against future uncertainties
  • How do mezzanine deal structures vary from preferred equity structures?
  • Multi-lender, multi-tranche deals and the associated considerations for structuring

Rusty Fleming

Partner, Nelson Mullins

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Lee Hart

Partner, Nelson Mullins

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Roundtable Discussions

3:00pm - 3:45pm

Roundtable 3: Accessing high yield commercial real estate debt via the CRE CLO market

  • What is driving the proliferation of the CRE CLO market?
  • What is the right capital structure to invest in CLOs?
  • How does CLO yield and risk compare with mezzanine?

Cary Carpenter

Managing Director, Head of CRE Capital Markets, Trading and Syndication

Starwood Capital

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Roundtable Discussions

3:00pm - 3:45pm

Roundtable 4: The role of sustainability in real estate financing

  • Innovative financing solutions for environmentally sustainable real estate: what does the growth of C-PACE financing mean for the mezzanine market?  
  • ESG integration into debt funds
  • How are ‘Net Zero by 2050’ frameworks being structured? And how are they being financed?

Randall Drain Jr.

Managing Partner

Reeds Bay Investment Group

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David Eyzenberg

President

Eyzenberg & Company

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3:45 pm - Chairperson’s closing remarks

4:00 pm - Cocktail Reception & networking