Tuesday, March 4, 2025

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Registration
9:00am - 9:30am              

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Welcome Remarks
9:30am - 9:45am

Lisa Pendergast, President & CEO, CRE Finance Council

Partner Sponsor:
Vivian Arias, Partner, Holland & Knight LLP

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Balancing the Portfolio: Real Estate's Role in the Modern Investment Landscape (Closed to Media)
9:45am - 10:35am

Moderator:
Kevin Fagan, Head of CRE Capital Markets, Moody's

Panelists: 
Ian Glastein, Managing Principal, Co-Head of Real Estate, Monarch Alternative Capital LP
Marshall Glick, Senior Vice President and Senior Analyst—Securitized Asset Management, AllianceBernstein
Christopher Graham, Managing Director, Blue Owl Capital Holdings LP
Lilly Kaufmann, Director, UBS O’Connor
Michael Nagelberg, Senior Managing Director, Blackstone

Discussion Topics: 

• Relative value: Why are asset managers and funds allocating to real estate versus other investments? What are the pros and cons? 
• Fundraising perspective: What is the conversation with fund LPs around why real estate? Has that changed in the last 5 years? How could it change in the next 5 years?
• Diversity of investors: What is the range of players versus a decade ago and what’s driving them to more real estate? 
• Key motivators across investors: How do things like competitive landscape, asset quality, position in the capital stack, financing demand, capital charges, maturity matching, spread to corporates, liquidity, alpha, tax advantages matter most to key investors? What is driving life companies to increase allocations?
• Spotlight on product types: What is the basket of opportunities to maximize returns? 
  • Analyzing the relative value of debt vs. equity, securities vs. direct lending, and the trade-offs between private credit and private equity
  • Exploring key comparisons such as ABS vs. CMBS and CMBS vs. direct lending opportunities
  • What’s the advantage of democratized products like non-traded REITs?
  • What new products allow investors to access institutional type assets and returns?
• Potential upside and downside impact of the new Administration policies and legislative agenda

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Networking Break
10:35am - 10:50am

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Pushing Boundaries: Where Do Alternative Lenders Go Next? (Closed to Media)
10:50am - 11:40am

Moderator: 
Grant Frankel, Managing Director, Eastdil Secured

Panelists: 
Vish Ali, Executive Director, Real Estate, PGIM 
Loren Berger, Co-Head of Origination, Argentic Investment Management
Mary Bogino, Managing Director, Rockwood Capital, LLC
Dan Hartman, Managing Director, Kennedy Wilson
Justin Kollender, Senior Vice President, Capital Markets & Treasury, Brookfield Asset Management 
Hannah McCarty, Principal, Real Estate Debt Strategies, Blackstone

Discussion Topics: 

• How low can you go? 
  • Floating rate coupons have continued to tighten through YTD 2025 
  • What are the best whole loan & subordinate debt quotes you have issued terms on? Have you seen them in the market? 
• Competition vs. Consolidation 
  • Alternative lenders continue to take market share post-COVID / post-interest rate hikes 
  • Who are your biggest competitors? What profile – insurance, money manager, pension, etc.?
  • Have you seen certain lenders fall away / be non-competitive vs. same time last year? 
• Construction financing pipeline slowed down materially in 2024 
  • Have buyers & sellers of land finally re-assessed yield-on-cost (YoC) requirements to attract LP capital? 
  • Will we see an uptick as all-in cost of capital continues to tighten on floating rate financing(s) 
• The bridge lending pipeline improved moderately through YE 2024 
  • Competition in the “lower yielding” & “lighter transition” bridge appears robust – how is competition executing on these deals: levered vs. unlevered?  
  • Outside of multifamily and industrial, what can you lend on today (office, mixed-use, hospitality, self-storage, etc.)?  

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Networking Lunch
11:40am - 12:40pm

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Servicing under Stress: Navigating Complex Loan Structures (Closed to Media)
12:50pm - 1:40pm

Moderator:
Andrew Oshman, Vice President, Goldman, Sachs & Co.

Panelists: 
Amanda Dugat, Senior Director CRE Servicing and Asset Management, SitusAMC 
David Harrison, Chief Operating Officer, PNC Real Estate/Midland Loan Services
Mike Jenkins, Senior Vice President, KeyBank Real Estate Capital
Angela Norris Johnson, Head of Special Servicing, K-Star Asset Management LLC
Brett Mann, Director of Loan Asset Management, LNR 

Discussion Topics: 

• First impressions: Challenges during origination and impact on Borrower experience
• Navigating escalating loan covenant complexities
• Performing loan consents: Fostering efficient and accretive results
• 2025 Maturities: Modification trends for challenging assets

Sponsored by:

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Networking Break
1:40pm - 1:55pm

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Darling to Distress?: The Multifamily Puzzle (Closed to Media)
1:55pm - 2:45pm

Moderator: 
Jan Sternin, Senior Vice President & Managing Director, Berkadia Commercial Mortgage LLC

Panelists: 
Robert Brasfield, Senior Managing Director, Client Services – Americas, Trimont
Sharon Briskman, EVP, Greystone
Richard Carlson, Vice President MF Portfolio Surveillance, Freddie Mac
Matt Jacobs, Managing Director, Head of Underwriting, BMO Capital Markets
Will Sledge, Senior Managing Director, Loan Sales, JLL 

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Networking Break
2:45pm - 3:00pm

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Geography Matters: Addressing Tri-State Default Trends (Closed to Media)
3:00pm - 3:50pm

Moderator:
Keith Brandofino, Partner, Holland & Knight LLP

Panelists: 
Jonathan Horowitz, Managing Director - Head of Loan Workout and High Yield Asset Management, Rialto Capital Advisors 
Janice Mac Avoy, Partner, Fried Frank Harris Shriver & Jacobson LLP
Matthew Mitchell, Managing Partner, SteepRock Capital 
Adam Smith, Director, DWS
Robert Vrchota, Managing Director, CMBS - North America, Fitch Ratings

Discussion Topics: 

• Navigating foreclosure challenges: Exploring the common legal, operational, and market obstacles lenders face when exercising remedies in the tristate area
• Local politics & real estate market dynamics: Lessons from Los Angeles and other regions on how political decisions shape commercial real estate strategies
• The future of office space: Can the push for a Return to Office breathe new life into the struggling office market?
• The cost crunch & rising defaults: Examining how escalating expenses—Local Law 11, construction, operations, and financing—are triggering default risks
• NY Local Law 97 & borrower viability: Assessing the potential impact of carbon emissions regulations on borrowers' ability to meet debt service obligations
• The NYC office market: Bifurcation & recovery prospects 

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Networking Break
3:50pm - 4:05pm

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Market Pulse & Predictions: One-on-One with KKR’s Matt Salem (Closed to Media)
4:05pm - 4:55pm

Moderator:
Eric Feuerstein, Partner and Co-Chair, Real Estate Practice Group, Gibson, Dunn & Crutcher LLP
Featured Speaker: 
Matt Salem, Partner, Head of Real Estate Credit, KKR

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Networking Reception
5:00pm - 6:00pm