Multifamily Financing & Workouts
Virtual Panel
June 18, 2020

Agenda

    Thursday, June 18th, 2020

      3:00 PM ()
      Multifamily Financing & Workouts

      • Please scroll down to view the recording.

        Following a year of capital flowing to a tune of $600 billion of issuance and an anticipated 10% increase across lender categories, we find ourselves in a vastly different market.  In this webcast, lenders, operators, and industry experts will examine the market’s new model of financings, deals and workouts.

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      3:00 PM ()
      Debt: What Is The Current Availability, Leverage & Structure During These Times Of Historically Low Rates?

      • • Recent experiences in looking for debt on new acquisitions and construction … What are you finding out there?
        • Did you have any pre-covid deals that blew up due to the debt withdrawing: Were you able to change the terms and get the deal finished?
        • What are you doing about refinancing during a time of falling valuations
        • What kind of leverage is available?
        • What types of products and geography are you currently underwriting?
        • Stabilized product, cash out refinancings and debt service coverage ratios
        • Going from fixed to floating-What is your advice?
        • How are you underwriting rent roll?
        • Financing from CMBS & the agencies… What has changed?
        • Recourse vs. non-recourse
        • Market for bridge loans, mezz and other transitory debt

        • Ed Steffelin, Senior Vice President (George Smith Partners)
        • Sharif Mitchell, Principal (Dantes Community Partners)
        • Jerry Fink, Managing Partner (The Bascom Group)

      3:30 PM ()
      Equity Finance: What Does Post-Covid Pricing Look Like?

      • • What are the equity terms available today?
        • What is your ideal equity/debt ratio? What is available? 
        • Any markets or assets you are backing away from?
        • Joint venture capital in the coronavirus era
        • What does fundraising look like today?
        • Family office vs. institutional money 
        • Buying equity vs. preferred equity interests
        • Where is foreign money available from?
        • What would it take to invest in a construction project? Do you prefer pref equity or a JV?
        • Syndication and the cost of equity

        • Frederick Cooper, SVP, Finance, Int. Dev. & IR (Toll Brothers, Inc.)
        • Greg Freedman, Partner (BH3 Management)
        • Darren Sloniger, President & CIO (Marquette Companies)
        • Dan Byrnes, Managing Director, Conventional Investments (Security Properties)

      4:00 PM ()
      Keeping Your Head Above Water: Rescue Capital, Recaps, Loan Purchases & Distressed Debt Investing

      • • Under what kind of situation would you use rescue capital?
        • Is there a lot of rescue capital available? What is the capital looking like?
        • Using rescue capital vs. walking away
        • What kind of opportunities are currently out there?
        • Pricing non and semi-performers
        • Where do you play in the capital stack?
        • What would it take to get involved in a construction project?
        • What kind of IRR are you looking for?
        • Falling valuations, drops in rent revenue, maturing loans-What kind of scenarios are you seeing out there?

        • Jill Homan, President (Javelin 19)
        • Michael D'Onofrio, Managing Director (Engineered Tax Services Inc)
        • Mark Weinstein, President (MJW Investments)

      What Do You Need To Know About Workouts?

      • • Agency debt, forbearance and what you need to know
        • Capital raising environment
        • Balance sheet bank loan vs. CMBS holders
        • What to do about personal guarantees
        • Equity vs. debt in property
        • Selling equity and preferred equity interests
        • Is an outright sale your best option?
        • Selling equity vs. finding debt: Which do you prefer?
        • Workout fees
        • When to go to the courts
        • Taking advantage of tax-advantaged opportunities including increased loss limitations, new 5yr loss carryback options for immediate tax refunds, cost segregation, bonus depreciation, energy tax credits and opportunity zones

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Content/Audio Files

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  • Thursday, June 18th, 2020
  • 3:00 PM

    Multifamily Financing & Workouts



    *** This session contains audio, but you must have been registered for this conference to be able to play audio files

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