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CRE Finance World Summer 2015
2
Publisher: Joseph Philip Forte, Esq.
Editor-in-Chief: Nicoletta Kostiansas
Co-Managing Editors: Paul Fiorilla &
Krystyna Blakeslee
Associate Editor: Andrea Rouse
Design: D. Bruce Zahor
Production: Kristin Searing
CRE Finance Council Staff
Stephen M. Renna
President & Chief Executive Officer
Ed DeAngelo
Vice President, Technology & Operations
Nina Fazenbaker
Manager, Conference Programming
Elizabeth Janicki
Accounts Receivable Associate
Kirsten Kvalsten
Executive Assistant & Member Services Manager
Alex Levin
Manager, Industry Standards & Strategic Relations
Michelle Mattingly
Director, Meetings and Sponsorship
Andrea Rouse
Director, Administration; Publication Manager
Martin Schuh
Vice President,
Legislative and Regulatory Policy
Stacy Stathopoulos
Executive Vice President
Sara Thomas
Director, Education Initiatives
Christina Zausner
Vice President,
Industry and Policy
CRE Finance Council Europe
Peter Cosmetatos
CEO, Europe
Hannah Liebing
Events/Finance Coordinator, Europe
Carol Wilkie
Managing Director, Europe
Volume 17, Number 2, Summer 2015
CRE Finance World® is published by the
Commercial Real Estate Finance Council (CREFC ®),
900 7th Street NW, Suite 501, Washington, DC 20001
email: , website:
© 2015 CREFC - Commercial Real Estate Finance Council,
all rights reserved.
Advertising: For information regarding advertising within
CRE Finance World, please contact Andrea Rouse,
phone: 202.448.0856, email:
Editorial: Questions? Comments? Send queries and letters
to Letters to the Editor, Brian P. Lancaster, Editor-in-Chief,
CRE Finance World, email: .
This publication is provided by CREFC for general information
purposes only. CREFC does not intend for this publication to be a
solicitation related to any particular company, nor does it intend to
provide investment advice to investors. Nothing herein should be construed
to be an endorsement by CREFC of any specific company or its products.
We advise you to confer with your securities counsel to determine
whether your distribution of this publication will subject your company
to any securities laws.
CRE Finance World assumes no responsibility for the loss or damage
of unsolicited manuscripts or graphics. We welcome articles of interest
to readers of this magazine. Opinions expressed are those of the author(s)
and not necessarily those of CREFC.
® CRE F IN A NC E W RL D
The Voice of Commercial Real Estate Finance
Timothy B. Gallagher
Chairman
Macquarie Group
Gregory R. Michaud
Chairman-Elect
Voya Investment Management
Keith A. Gollenberg
Immediate Past Chair
Oaktree Capital Management, LP
Mitchell Resnick
Vice Chairman
Freddie Mac
John M. Mulligan
Secretary
White Mountains Advisors LLC
Daniel E. Bober
Treasurer
Wells Fargo Bank
Brian Olasov
Membership Committee Chair
McKenna Long & Aldridge, LLP
Paul T. Vanderslice
Policy Committee Chair
Citigroup Global Markets
Samir Lakhani
Executive Committee Member
BlackRock
David M. Nass
Executive Committee Member
UBS
Nilesh Patel
Executive Committee Member
Prima Capital Advisors
Stephen M. Renna
President & Chief Executive Officer
CRE Finance Council
Jun Han
Editor Emeritus
TIAA-CREF
Nicoletta Kotsianas
Editor-in-Chief
Kroll Bond Ratings
Joseph Philip Forte, Esq
Publisher
DLA Piper LLP
Paul Fiorilla
Co-Managing Editor
Yardi Systems
Krystyna Blakeslee
Co-Managing Editor
Dechert LLP
Andrea Rouse
Publication Manager
CRE Finance Council
Patricia Bach
Genworth Financial
Jeffrey Berenbaum
Citi
Stacey M. Berger
PNC Real Estate/Midland Loan Services
David Brickman
Freddie Mac
Dr. Victor Calanog
Reis, Inc.
Sam Chandan, Ph.D.
Chandan Economics
James Manzi
Standard & Poor’s Rating Services
David Nabwangu
DBRS Inc.
Brian Olasov
McKenna, Long & Aldridge, LLP
Lisa A. Pendergast
Jefferies LLC
Peter Rubinstein
Daniel B. Rubock
Moody’s Investors Service, Inc.
Clay Sublett
KeyBank Real Estate Capital
Eric B. Thompson
Kroll Bond Ratings
Harris Trifon
Western Asset Management
Darrell Wheeler
Amherst Securities Group LP
CRE Finance Council
Officers
CRE Finance World
Editorial Board Roster
CRE Finance Council
900 7th Street NW, Suite 501
Washington, DC 20001
202.448.0850
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