Real Estate Mezz & Distressed Debt Virtual Forum
Virtual Conference
November 18, 2020

Description

The global Covid-19 pandemic has acted as an unexpected catalyst for change within the commercial real estate lending market and has brought with it considerable challenges for lenders and borrowers alike.  This sudden economic downturn has many cautiously preparing to pounce on distressed debt investment opportunities that may present outsized returns, with the correct strategy in place. 

Although driven by different underlying forces, the industry is looking to lessons learned from the Global Financial Crisis to help weather the storm and hit the ground running in what will likely be a new normal for the industry. 

IMN is delighted to convene the industry virtually at the Real Estate Mezzanine & Distressed Debt Virtual Forum on November 18, as we continue our commitment to foster relationships, engage in lively debate and facilitate the exchange of critical market intelligence. 

Join IMN’s faculty of experts as they discuss the outlook for mezzanine finance; changes to the capital stack; borrower and lender strategies for loan workouts, restructurings and forbearance agreements; refinancing; origination expectations; and potential opportunities for investors in the distressed debt space over the coming months.

Due to the remote nature of this event, we are expecting our largest ever audience of senior level representatives from real estate senior, mezzanine and other subordinate debt lenders, private debt funds, owners, developers, mortgage REITS, private equity, pension funds, and more.   

Built upon a best-in-class, user-friendly platform, the virtual edition of Real Estate Mezzanine & Distressed Debt Forum features a host of capabilities that will ensure you arm yourself with the information and connections you’ve grown to expect from our industry leading live event, including:
 
  • Attendee Networking:  Attendees and sponsors can meet via video or text chat; one-on-one or in groups; to discuss the latest deals, investment opportunities or whatever else is on your mind.
  • Diverse Content:  Hear from over 100 industry leaders through a range of keynote addresses, panel discussions, ‘closed-door meetings’, and roundtables.
  • On-Demand Access:  Can’t make it to the live session? Add it to your personal calendar and enjoy on-demand access whenever the time is right.
  • Speaker Engagement:  Engage directly with the virtual conference speaking faculty during live sessions with Q&A and polling, or take the conversation offline within the networking portal.
  • Unlimited Resources:  Download and save pertinent industry resources throughout the entire platform from panel presentations to exhibitor whitepapers, you will not leave the conference empty-handed!
  • Ease of Access:  Register for the virtual conference and receive access from any device no matter where you are.


My Agenda

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Agenda

    Preliminary Agenda

      Commercial Real Estate Market Fundamentals & Macroeconomic Outlook

        • What has been the impact of the pandemic on various CRE asset classes?  What does the future look like for these sectors?
        • What are the likely impacts of unprecedented monetary and fiscal policy actions?
        • Rethinking the workplace – which markets will be most affected by a potential long term shift to remote working?
        • What is the outlook for capital flow into the high yield debt space?
        • How will previous challenges of construction costs, labor availability, land prices and tenant credit profiles affect different property types?


      Looking Forward: What Next for Mezzanine Debt & Other Types of Gap Capital?

        • Summary of Covid-19 impact on real estate lending market
        • Impact on loan origination decisions
        • How are borrowers and lenders making strategic changes to better weather the storm ahead?
        • How are you approaching your lending strategy to differentiate yourself?
        • To what extent are you revisiting deals that fell through at the start of the crisis?
        • How can smaller lenders survive a crisis that favors scale?


      Evaluating the Market for Distressed Debt

        • What are current default rates and how do you expect these to change in various situations?
        • Near-term outlook for mezz, senior and CMBS debt – is distress inevitable?
        • How are relationships between borrower, lender and servicer playing out right now?  Are breakdowns in communication causing distress?
        • How does this compare to the last couple of financial crises?


      Valuing Distressed Assets: How Has the Model Changed Over the Past Few Cycles?

        • Modeling valuations in an uncertain economic environment
        • Where are valuations now vs pre-coronavirus?
        • How are they trading vs non-distressed assets?
        • Impact of current interest rates on valuations
        • Supply and demand across various asset classes


      Tranched Loan Workouts, Forbearance & Restructuring

        • Best practices in negotiating a workout as a borrower with a tiered lending structure
        • Lender strategies for managing a defaulted loan – forbearance and restructuring
        • Interpreting and enforcing intercreditor and co-lender agreements
        • Understanding payment priorities under tiered lending structures
        • Managing a mezzanine loan foreclosure under the UCC


      Bank vs Non-Bank Lending in a Distressed Environment

        • How are banks and non-traditional, non-bank lenders viewing distressed opportunities?
        • Where in the capital stack are banks re-entering the market?  What should we expect moving forward?
        • How are the roles of non-bank lenders changing and what alternative lending sources are out there right now?
        • What types of projects are looking for mezzanine debt and bridge loans?


      Acquiring Distressed Real Estate: What Do You Look For in an Acquisition?

        • How does this compare to the Global Financial Crisis?
        • What types of real estate are available?  How do you expect this to change over various timeframes?
        • Underwriting distressed deals and due diligence
        • What legal considerations are there acquiring distressed property in today’s environment?


      Financing & Value-Add Strategies for Distressed Properties

        • What financing is available and favorable for distressed deals across different asset classes?
        • How do terms compare to ground-up development deals?
        • Joint venture financing/equity
        • What is happening with sale-leasebacks across asset classes?
        • How are investors and lenders finding value in the current market?


      Distressed Opportunities in the Hospitality Sector

        • What strategies are investors and lenders employing to find value in this environment?
        • Which capital sources are most attractive right now for owners?
        • How are terms changing for preferred equity, senior and mezzanine debt?
        • Identifying and evaluating value-add opportunities in the hospitality sector
        • How will short-term rentals impact the hotel industry moving forward?


      Retail Sector Outlook in the Midst of Economic Uncertainty

        • What sort of activity has there been in this sector in 2020?
        • Impact of high profile retailer bankruptcies on the sector
        • Transforming brownfield sites into industrial and other adaptive reuse strategies
        • What is in store for restaurants, cinemas, malls and other subsectors around the country?
        • How is retail development being financed and refinanced?


      Land Acquisition & Construction Loans in the Era of Covid-19

        • Supply and demand outlook for land deals and construction projects
        • What transactional activity is being observed in recent months?
        • Which asset classes have shown enough resilience for lenders to provide construction loans?
        • Who is providing the financing and how are they modeling risk when underwriting the deals?
        • How do you protect all parties against a default in the current environment?


      Continued Strength & Opportunities in the Multifamily Sector

        • How are economic and market fundamentals impacting the multifamily sector?
        • Which markets are most attractive right now given the uneven impact of Covid-19 across the country?  Conversely, which are you staying away from?
        • Challenges with financing multifamily development in this climate – how to underwrite rents etc?
        • What are terms and quality of borrower looking like today?


      Industrial Plays & Creative Solutions for Financing Adaptive Reuse

        • How is the continued growth of ecommerce fueling the need for industrial property financing?
        • What markets are most attractive for industrial plays at the moment?
        • How are mezzanine and bridge lenders fairing in this asset class?  What deals are being done and what do terms look like?
        • Overview of adaptive reuse converting industrial into multifamily or retail, office into industrial
        • What challenges are there with repositioning a property to serve a different asset class?
        • Creative financing solutions for adaptive reuse


      Best Practices & Turnaround Strategies in Repositioning Distressed Assets

        • What lessons have been learned from the last downturn?
        • Is re-tenanting a realistic option in this environment?
        • How easily can properties be flipped and renovated for new tenants right now?
        • Timeframe necessary for repositioning
        • Adaptive reuse opportunities – which moves make most sense?
        • What issues arise with valuations?


Sponsors

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  • Owner/Developer (Borrower) Registration* - $0
  • Lender/Service Provider Registration - $395
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Venue

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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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