THE FUTURE OF CRE LENDING AMIDST COVID-19

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ABOUT THE VIRTUAL EVENT

iGlobal Forum is pleased to introduce the Future of CRE Lending Amidst COVID-19 virtual event, taking place.

Building on iGlobal’s long-standing success of conference and events, across the portfolio and industry this dedicated 1 hour webinar, will be an exclusive opportunity to network and join colleagues in the debate.

This event recording is now available to watch on-demand. 


KEY TOPICS

  • How does the number of lenders in the market differ today from when you did your loan then? Are interest rates higher now as a result of the Pandemic/virus?

  • Has underwriting (by lenders) changed over the last 2-3 months?

  • Are lenders being more conservative now because of uncertainty in the market-place?

  • How will lenders size loans and predict cashflow over the next several years given the unknown trajectory of COVID-19

  • Which property types are likely to hold in best and which are likely to experience limited capital availability

Panelist

Mr. Valger founded DVO Real Estate and is responsible for the overall management, operations and investing activities of the firm.

David Valger

David Valger

Founder & President 
DVO REAL ESTATE

 

Mr. Valger is a seasoned industry veteran with extensive experience in all aspects of real estate investing and finance, including originating, structuring, underwriting and managing real estate and corporate private equity transactions valued at more than $6.3 billion.

Previously, Mr. Valger was a partner with RCG Longview Debt Funds, a New York-based real estate firm offering structured equity and debt products. At RCG, he specialized in multifamily properties and was responsible for originating, structuring and underwriting a variety of real estate mezzanine and preferred equity investments, including more than 25,000 multifamily units. While there, he developed and led the firm’s exclusive Fannie Mae partnership. Prior to RCG Longview, Mr. Valger founded Genesys Holdings, a start-up technology company and was the head of sales & marketing for a multi-national packaged goods marketing firm called NutriPlus.

He is a former member of the Board of Directors and the Executive Committee of the UJA/Federation of New York and a former Board member of The Jewish Community Relations Council of New York.                                                                  
Mr. Valger received a B.A. from Binghamton University with a Major in Art History and a Minor in Biology and an M.B.A in Real Estate & Entrepreneurial Management from the Wharton School at the University of Pennsylvania.

Panelist

Alan Todd is head of U.S. Commercial Mortgage Backed Securities (CMBS) Research.

Alan Todd

Alan Todd, CFA

Managing Director
CMBS Strategy, Global Research
BofA Securities, Inc

In this role, he is responsible for generating high-level, relative value and trade specific research recommendations regarding cash, synthetic and non-CUSIP investments to external and internal clients. He also focuses on providing macro-level overviews and in-depth analysis of the CMBS and commercial real estate markets. Alan brings more than 16 years of CMBS experience to this role and is highly regarded for his recommendations and timely market calls. Alan correctly called the recovery of the CMBS market since the 2009 bottom and the decline of the CMBS market in 2008.

Alan has garnered a top-two ranking among CMBS analysts each year since 2007 according to the Institutional Investor All-America Fixed Income Research team survey and ranked No. 1 for CMBS each year since 2009. Alan joined Bank of America Merrill Lynch in August of 2011 from J.P. Morgan, where he was head of CMBS research since 2005. Prior to that he spent five years at Bear Stearns, also in CMBS Research.

Alan received his Bachelor’s degree in Electrical Engineering from Syracuse University, his Master’s degree in Finance from Vanderbilt University and is a CFA Charter holder.

Panelist

Mr. Rollins is President and co-founder of JCR Capital, LLC (Johnson Capital/Rollins).

Jay Rollins2

Jay Rollins

President
JCR| CAPITAL 
Commercial Real Estate Finance

JCR Capital is a specialty real estate finance company, specializing in providing structured debt and equity capital for value added and opportunistic and value added commercial real estate transactions. 

Prior to forming JCR in May 2006, Mr. Rollins was a Managing Director of GMACCM’s Structured Products Group. In this role Mr. Rollins managed a $500 million balance sheet position that focused on originating bridge loans, mezzanine loans, and participating debt. The platform focused on opportunistic real estate transactions, in particular, multifamily, retail, office, industrial, land and affordable housing asset classes. 

Mr. Rollins started the Structured Products Group (SPG) in 1999, and over that time originated and was repaid on over $1.1 billion of high yield loans, achieving an unleveraged IRR of 9.7%. SPG was recognized nationally by numerous industry periodicals including Mezzanine Lender of the Year honors. 

Prior to GMACCM, Mr. Rollins was the President and Founder of Eastern Realty Corporation, a real estate investment and advisory company. Eastern Realty purchased over $400 million of distressed (primary, land and commercial) assets from the RTC and other distressed financial institutions. The assets were repositioned and resold by Eastern Realty. These repositioning efforts included debt restructuring, land development and construction. Eastern Realty was a joint venture partner with Wall Street investment banks, real estate opportunity fund and private equity firms. 

Prior to forming Eastern Realty, Mr. Rollins was Director of Finance for the public homebuilder, NVR, LP. In this position Mr. Rollins was responsible for capital relationships and structuring debt and equity for land development and construction projects. Mr. Rollins began his career as a commercial real estate lender with regional banks in the Washington, DC area.

Mr. Rollins holds an MBA in Finance from George Washington University and an undergraduate degree in Finance and Marketing from Virginia Tech.

Panelist

Mr. Robert Sonnenblick, Chairman of Sonnenblick Development, LLC, is a graduate of the Wharton School of Finance of the University of Pennsylvania with more than 30 years of experience in various aspects of real estate development and real estate finance.

Bob Sonnenblick

Bob Sonnenblick

Chairman
Sonnenblick Development, LLC

From 1981 to 1991 Mr. Sonnenblick was the driving force and power behind Sonnenblick-Goldman Corporation of California. Mr. Sonnenblick completed over $1.5 Billion of commercial real estate transactions on the West Coast, and as a result is regarded as one of the West Coast's leaders in the field of commercial real estate finance.

Among the more notable projects for which Mr. Sonnenblick personally structured the financing for are The Beaudry Center, Los Angeles, California ($197 million), the Ritz Carlton Hotel, Pasadena, California ($97 million), One Waterfront Plaza, Honolulu, Hawaii ($100 million), and the Los Angeles World Trade Center, Los Angeles, California ($55 million).

Panelist

John W. Randall is a Senior Vice President of PCCP, LLC.

John-Randall

John Randall

Managing Director
PCCP LLC

Mr. Randall joined PCCP in December 2009 and focuses on East Coast debt and equity originations particularly in the Mid-Atlantic area.

Prior to PCCP, Mr. Randall spent six years and invested over $1 billion in real estate debt and preferred equity positions within the Real Estate Private Equity group of Lehman Brothers.

Prior to Lehman Brothers, Mr. Randall was a Vice President with Deutsche Bank, originating and underwriting mezzanine investments for the DB Real Estate Mezzanine Investment Funds.

Mr. Randall's experience also includes work at Daiwa Securities originating and structuring conduit loans for their CMBS group. Mr. Randall started his career with Arthur Andersen and Jones Lang Wootton where he valued over $1 billion of real estate in the U.S. and Latin America.

Mr. Randall has over 14 years of real estate experience and holds a B.A. in Economics from Bowdoin College, magna cum laude, and an M.B.A. from the Wharton School of the University of Pennsylvania.

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