CRE CLOs
New York, NY
October 21, 2021

Description

IMN is delighted to announce the return of the 3rd Annual Investors’ Conference on CRE CLOs to our physical event calendar on October 21 in New York, NY. The conference will explore the booming CRE CLO market in a post-pandemic environment as 3.0 products continue to present strategic opportunities for issuers, investors, deal structurers, brokers and various service providers.

Issuers looking to market their latest offerings and investors seeking yield will have ample opportunity to connect pre-, during and post-conference, as well as access to dedicated public and private sponsor-hosted meeting spaces. Complemented by a half day agenda featuring expert practitioners speaking on a timely set of topics, delegates and sponsors alike will enjoy cutting edge insight into this dynamic corner of the CLO market.

We look forward to welcoming you back to this must-attend meeting of the CRE CLO sector this Fall.

Who Should Attend
  • Commercial Real Estate Lenders 
  • CRE CLO Issuers
  • CRE CLO Structurers and Bankers
  • Legal and Financial Advisors
  • Investors
  • Rating Agencies
  • Commercial Real Estate Servicers 
  • Other Financial Service Providers

Investors & Issuers 65

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Conference Highlights

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My Agenda

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Agenda

    Thursday, October 21st, 2021

      12:30 PM
      Conference Opens & Registration



      1:00 PM
      The Big Bang: Expanding the Momentum for CRE CLOs

        • What are 2021’s CRE CLO issuance volumes, and how does this compare with 2020 and recent prior years?
          • Will the increases in market volume lead to greater efficiencies in CRE CLO establishment and refinancing?
          • What will be the scale of the CRE CLO market in 2 to 5 years?
        • What are the key factors driving CRE CLO issuance, and what factors will most affect CRE CLO market activity over the coming year? E.g. LIBOR Transition, Relative Value to other asset classes, macro real estate markets etc.
        • To what degree will the CRE CLO replace other types of traditional financings, such as CMBS pooled floaters?
        • How has COVID affected the CRE CLO market currently? For the longer term?


        • Steven T. Kolyer, Partner (Sidley Austin LLP)
        • Kunal Singh, Managing Director (J.P. Morgan)

      1:50 PM
      Structural Deep Dive: Static Vs. Managed, and other Key Trends

        • What has caused a shift towards more managed issuance? How do spreads compare as compressed over time?
        • What types of further structural adjustments are possible that will be sponsor-friendly while being credit-neutral? And how does the CRE CLO structure reflect ongoing sponsor commitment?
        • What are the reporting, transparency and asset management challenges for these structures?
          • Is the level of disclosure in CRE CLOs satisfactory in the primary offering stage? In ongoing reporting? 
        • How is the CRE CLO distinguishable from other types of loan securitizations – CRE and non-CRE? 
        • How is the LIBOR transition affecting motivations behind issuing Static vs. Managed? Do reinvestment periods and additional new assets help spread premiums and pricing?


        • Greg Renick, Vice President (Goldman Sachs)
        • Pramit Mukherjee, Senior Investment Manager (Legal & General America)
        • Stewart McQueen, Partner (Dechert LLP)
        • Eno Usoro, Senior Associate (Sidley Austin LLP)

      2:40 PM
      Transaction Case Study



      3:00 PM
      Refreshment Break



      3:20 PM
      Keynote Address



      3:55 PM
      Pushing the Envelope: Issuer Perspectives Roundtable

        • How do CRE CLOs compare with alternative sources of financing?
        • Issuance and underlying loan assets evaluation over recent years (2019, 20, 21). What has changed and why?
          • What types of bridge loans and collateral are going into CRE CLOs? Structural features, liquidity and secondary market exposure.
        • Are there signs of a maturing market or is there still room for external growth? What models exist for new entrants, and how much more flexibility do managed structures provide?
        • How do broadened loan asset modification rights facilitate management and servicing while protecting investors?
        • How is the financing and documentation of this product expected to evolve? i.e. construction & mezzanine loans, and limits on document modification in managed deals.


        • Steven T. Kolyer, Partner (Sidley Austin LLP)
        • Ross Gusler, Senior Vice President (Greystone)
        • Melissa Band, Director - Capital Markets (Värde Partners, Inc.)

      4:45 PM
      “The Price is Right!” Investor Perspectives Roundtable

      • Hosted by the Fixed Income Investor Network (FIIN)

        • Investor views across the capital stack; from AAA through riskier tranches, and equity. How are different types of investors evaluating their credit exposures and strategies post-pandemic?
        • How is the Investor base evolving and what is likely to be seen over the next 6-12 months? How is this affecting liquidity and spread levels compared to other CLOs? Will a greater volume of Investors impact structures?
        • How are investors viewing relative value for CRE CLOs across the product spectrum, activity between the primary and secondary market? What asset types are favourable to investors?
        • How comfortable are investors with CRE CLOs with the current offerings and structures? Do managed transactions provide more flexibility for investors? How are investors evaluating underlying collateral, and taking advantage of fixed vs floating rate terms?
        • Will LIBOR benchmark replacements interfere with investment activity in CRE CLOs?


        • Avinash Sharma, Managing Director, Head of Primary CMBS Trading in North America (J.P. Morgan)
        • Manish Rajguru, Portfolio Manager - CMBS (OFS Capital Management)
        • Jeehae Lee, Deputy Chief Investment Officer (Bridge Investment Group)
        • Rishi Bansal, Chief Investment Officer (BankUnited)
        • Abhishek Sachdev, Portfolio Manager (JPMorgan Chase)

      5:30 PM
      Networking Reception, Co-Hosted by FIIN, the Fixed Income Investor Network

      • Join us for an exclusive 2-Hour Networking and Cocktail Reception with the CRE and broader Fixed Income Investor Community, to kick off the Autumn IN PERSON networking season!



Sponsors

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  • Investor Rate - $895
  • Issuer Rate - $1,195
  • CLO Manager Rate - $1,195
  • Early Bird Rate - $1,795
  • Standard Rate - $1,895
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Venue

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Speakers


1120 Avenue of the Americas, 6th Floor, New York, NY 10036
Tel: +1(212)901-0506 Fax: +1(212)768-2484
Email: mail@imn.org


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