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CRE Finance Council and the CREFC’s High Yield Distressed Realty Assets Forum are pleased to announce the March 2014 High Yield & Distressed Realty Assets Summit. The Summit will take place March 12th – 13th at the New York Athletic Club, located at 180 Central Park South in New York City. This premier day-and-a-half event will focus on opportunities in the distressed debt sector, workout and exit strategies, CMBS and balance sheet lending and more. All topics are presented by leading industry participants.

High Yield Distressed Realty Assets (HYDRA) Forum Leadership:

Nik Chillar, Vice President, Belgravia Capital 
John D’Amico
, Director, Special Asset Management, Trimont Real Estate Advisors, Inc.
Kevin Donahue
, Senior Managing Director, C-III Capital Partners
Greta Guggenheim, Chief Investment Officer, Ladder Capital Finance LLC
Bill O’Connor, Partner, Thompson & Knight, LLP

Tuesday, March 11, 2014


Speakers Dinner
(by invitation only)
6:30-9:00 pm  
10th Floor- President's Room

Sponsored by: Trimont and Bank Asset Point


Wednesday, March 12, 2014

 

Registration and Continental Breakfast
8:30-9:15 am  
9th Floor- Foyer


Welcome
9:15-9:30 am  
9th Floor- Lounge

Stephen M. RennaPresident & CEO, CRE Finance Council  


Market Trends and 2014 Opportunities
9:30-10:30 am  
9th Floor- Lounge

Moderator:  
John D'AmicoDirector, Special Asset Management, Trimont Real Estate Advisors, Inc. 

Panelists:
Dave DorrosVice Chairman, CBRE Capital Markets
Daniel Ostersehlte, Managing Director, Waterfall Asset Management, LLC
Donald SheetsSenior Principal, Square Mile Capital Management 
Darrell WheelerSenior Managing Director, Head of CMBS Strategy, Amherst Securities Group LP

Discussion Topics:

• Who’s lending?  Everyone - banks, insurance companies, CMBS, private debt, GSEs, etc.  Is this the end of non-performing or just a setup for more?
• Distressed realty asset opportunities for 2014 – note sales, REO and targeted acquisitions
• Investor targets vs interest rate creep
• Are the economy and real estate fundamentals improving or are we kidding ourselves? 


Networking Break
10:30-11:00 am
9th Floor- Card Room


Guest Speaker
11:00-12:00 Noon
9th Floor- Lounge

Sam Chandan, PhD, President & Chief Economist, Chandan Economics


Luncheon
12:00-1:00 pm 
10th Floor- Olympic Suites


New Waves of Securitization 
1:00-2:00 pm  
9th Floor- Lounge

Moderator:  
Brian OlasovManaging Director, McKenna Long & Aldridge, LLP

Panelists:
Jackie BradyManaging Director, Canopy Investment Advisors
Daniel Chambers, Managing Director, Fitch Ratings
Kevin McKenzie, Head of Investments, Sabal Financial Group LP
Kevin Riordan, Managing Director, Annaly Commercial Real Estate Group
Timothy Zietara,Chief Investment Officer, Doral Property Finance 

Discussion Topics:

Now that plain vanilla conduit CMBS has returned to mainstream and robust volumes, market participants are exploring more creative structures. This panel explores topics including

• Financing NPL pools: What's state of the art? Is there still adequate volume to support continuing issuance?
• CDOs: What's the myth and reality behind CRE CDOs during the downturn? What role can they play as markets recover?
• CLOs: Along with CMBS, CLO activity has taken off.  How does this generation differ from previous deals?  How hungry is capital to find the right deals?
• Rating agencies: How do the RAs maintain discipline in the market? What risks do unusual deal structures raise?


Non-Bank “Higher Yield” Lenders
2:00-3:00 pm  
9th Floor- Lounge

Moderator:
Greta GuggenheimChief Investment Officer, Ladder Capital Finance LLC

Panelists:
John Bucci, Co-Founder & Co-Managing Partner, SteepRock Capital LLC
Kathleen Corton, Principal, Brickman
Peter Ginsberg, Senior Vice President, Arbor Commercial Mortgage, LLC
Billy Procida, President, Procida Funding and Advisors LLC

Discussion Topics:

Successful strategies to source higher yielding loans in a an uber-competitive market:

• Sell lower coupon senior interests and retain junior position;
• Originate mezzanine loans;
• Small loan balance lending;
• Do land and pre-development deals, yes really.


Networking Break
3:00-3:30 pm  
9th Floor- Card Room


Litigation Risk for CMBS 1.0 and 2.0
3:30-4:30 pm  
9th Floor- Lounge

Moderator:   
Bill O'ConnorPartner, Thompson & Knight, LLP

Panelists:
Merrick L. "Rick"  GrossShareholder, Carleton Fields Jorden Burt
Steve LauerSenior Vice President, Trimont
Jenna UnellSenior Managing Director, C-III Asset Management 
Craig WelinShareholder, Frandzel Robins Bloom & Csato, LC

Discussion Topics:
 
The Hangover: Lessons still being learned from Legacy CMBS
American Hustle: Suing on Breach of Warranties and Representations; puts.
House of Cards: Bad underwriting and  litigated drafting errors in NEW CMBS; Emboldened Borrowers.
Case Study on new CMBS Litigation.


Challenges and Changes in Special Servicing 
4:30-5:30 pm  
9th Floor- Lounge

Moderator:       
Kevin DonahueSenior Managing Director, C-III Capital Partners

Panelists:
Adam Hayden, Senior Director, New York Life Investments
David Iannarone, President, CWCapital Asset Management LLC
Lea Overby, Executive Director, Nomura Securities International
Isaac Pesin, Managing Director, LNR Property
Matt Salem, Managing Director, Rialto Capital Management

Discussion Topics:

• Bulk liquidations – the wave of the future to maximize recoveries or resolution strategy of last resort?
• Are the “changes in control” in legacy CMBS “out of control” and what are the implications to Special Servicer’s and bondholders going forward?
• Special Servicing is not just about defaults and workouts – a discussion of other servicing activities and how that reflects on overall direction of the market.
• New issue Special Servicing – is it a sustainable business model given the structural changes, enhanced responsibilities and revenue limitations imposed by new contracts?
• Panelists predict the way forward given legacy defaults, deterioration in new issue credit quality, possible consolidation and expanded regulatory requirements.


Networking Reception   
5:30-7:30 pm  
9th Floor- Card Room

 

Thursday, March 13, 2014

 

Continental Breakfast
8:30-9:00 am  
9th Floor- Foyer


Equity Participations
9:00-9:45 am  
9th Floor- Lounge

Moderator:       
Ben Herd, Partner, Thompson & Knight LLP 

Panelists:
Michael Bernstein, Principal, Artemis Real Estate Partners
Midge Brogan, Managing Director, Sabal Financial Group 
Dan Coakley, Managing Director, NorthStar Realty Finance Corp.
Seth Weinstein, Principal, Olympic Property Partners  

Discussion Topics:

• What role does equity participation play in a distressed and recovering market?
• What role does it play in a stable market?
• Are there clearly identifiable asset types better positioned for lender equity deals – or is it anything with turn-around potential?
• What’s the developer perspective on equity participation and sharing the upside with the lender?


Single Family Residential Rental Securitization
9:45-10:30 am  
9th Floor- Lounge

Moderator:
Stacey BergerExecutive Vice President, PNC Real Estate/Midland Loan Services

Panelists:
Randal Johnson, Director, Structured Credit, Deutsche Bank Securities Inc.
John Maute, Senior Managing Director, Situs Holdings LLC
Jade Rahmani, Research Analyst, Keefe, Bruyette & Woods
Randy ReiffCEO, FirstKey Lending, LLC
Eric Thompson, Senior Managing Director, Structured Finance Ratings, Kroll Bond Rating Agency, Inc. 

Discussion Topics:

• What are the ratings challenges -- are these deals CMBS or RMBS, both or something else?
• How big is the potential market and where are the opportunities?
• Who are the sponsors and managers?
• What are the servicing and special servicing issues?


Networking Break   
10:30-11:00 am
9th Floor- Card Room


B-Piece Buyers Perspective
11:00-11:45 am 
9th Floor- Lounge

Moderator:
Jeffrey FastovSenior Principal, Credit Strategies, Square Mile Capital Management, LLC

Panelists:
Luke Dann, Managing Director & Chief Credit Officer, LNR Partners LLC
Marshall GlickSenior Vice President & Senior Analyst/Portfolio Manager—Securitized Asset Management, AllianceBernstein L.P. 
Michael KaplanChief Credit Officer/Managing Director, CCRE
Dan Sefcik, Managing Director, BlackRock

Discussion Topics:

• Do ratings and specific rating agencies matter?
• What structural requirements do you have - minimum class size, coupon, CCR?
• Does every loan have a price?


Note Exit Strategies
11:45-12:30 pm 
9th Floor- Lounge

Moderator:
Jonathan SchultzManaging Principal, Onyx Equities, LLC

Panelists:
Kathy BurroughsPartner, Dechert LLP
Scott Callahan, Partner, Roetzel &  Andress LPA
Tom GoodwinExecutive Vice President, DebtX 
Jason HullDirector, Business Development, Sabal Financial Group LP
Salman KhanManaging Principal & CEO, Stabilis Capital Management, LLC

Discussion Topics:

• What does the current portfolio market look like?
• Has there been any change in asset type or geographic distribution in offerings?
• When is a one-off transaction better than widely marketing a note or REO Sale, and for whom?• When a sale of a note is being marketed, how do borrowers or investors access rescue capital and what do such structures look like in the current market?
• Best ways to work with loan sale advisors.
• What is going on in the small balance to middle market for loans?
• What do fund buyers do that makes them more nimble in smaller portfolio and one off transactions?
• What new approaches and products are evolving for community banks and credit unions under increasing regulatory pressure?

 

register

Registration Fees:
CREFC Member Registration: $565.00
Non-member Registration: $665.00

For further information regarding registration, please contact Elizabeth Janicki, 646-884-7577.

***Please note that registrations are nonrefundable. If a registrant is unable to attend the event, a substitute will be accepted at no extra charge***

Hotel Recommendations

The Ritz-Carlton New York, Central Park (3 minute walk)
50 Central Park South
New York, NY 10019‎
(212) 308-9100

The Plaza (7 minute walk)
768 5th Ave, New York, NY
(212) 759-3000

Trump International Hotel & Tower® New York (5 minute walk)
1 Central Park West, New York, NY
(212) 299-1000

JW Marriott Essex House New York (30 second walk)
160 Central Park S, New York, NY
(212) 247-0300

Sponsorship Opportunities are available. Contact Erin Liberatore (202.448.0855), Director of Meetings & Member Services, for more information.

 

Lead Summit Sponsor:

TK


Sponsors:

ballard            

bankassetpoint

 

         
trimont
            Zodiac

 


 

Media          
credirect           sgm           

 

 

The Attendee List is available to registered attendees of the Summit. Registered attendees may click the below link to access the attendee list.

Attendee List

This list is the sole property of the CRE Finance Council. No one has the right to copy, re-use, reproduce or distribute this list or any information included on the list in any form without first receiving written permission from the CRE Finance Council.