Multifamily Lending: Freddie Mac, Fannie Mae, & FHA

Tuesday, November 9th, 2010 | Omni Hotel, San Francisco

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$65 for members $75 for guests and walk-ins
Special: $50 for members age 35 and under

6:00 to 6:45 pm – Cocktail Reception
6:45 to 8:30 pm – Dinner & Program

If you sell it, want to sell it or sell against it, you should not miss this opportunity to sit down with representatives of Freddie Mac, Fannie Mae, and FHA to discuss the state of multifamily lending, their current products, and speculation on the future of the industry.

As life companies, CMBS, and banks are slowly returning to lending, the GSEs still dominate with a disproportionate market share in the multifamily lending world. Despite their troubles in their single family portfolios, both Freddie and Fannie have maintained a multifamily delinquency rate below 1.00% while continuing to provide liquidity throughout the credit crisis; still making up to 70% of all multifamily loans today. With typical leverage of 80% and rates at nearly 4%, come hear how they are doing it, what deals are getting done and how to most effectively tap into these attractive financing options.

MODERATOR

Michael Jameson | Managing Director, Prudential Mortgage Capital Company

Mike Jameson is a managing director with Prudential Mortgage Capital Company. In this role he is responsible for managing the firm’s third-party commercial mortgage asset management business. Prior to joining Prudential in 1990, Mike acted as the assistant to the president for the Shorenstein Company and as a retail leasing agent for Norris, Beggs & Simpson, a regional commercial brokerage firm. Between 2001 and 2007, Jameson was responsible for loan originations for all capital sources in Northern California, the Pacific Northwest, Utah, Nevada, and Arizona. Mike was also responsible for the pricing of General Account loans in his territory. During 1999 and 2000, Jameson was involved in Prudential Mortgage Capital’s acquisition of the WMF Group, Ltd., a publicly traded mortgage banking firm headquartered in Vienna, Virginia. Prior to this assignment, he was responsible for originating commercial mortgage loans in the Western U.S. and selling commercial properties for Prudential’s general account. Mike graduated with honors from the University of California, Davis in 1985 with a degree in economics. He also received an M.B.A. from the Haas School of Business at the University of California, Berkeley.

PANELISTS

Brian Bowis | Senior Producer, Freddie Mac Multifamily

Brian Bowis has been a Senior Producer with Freddie Mac for over two years. He is one of three originators for all Freddie Mac Multifamily financing in the Western U.S. In that role he has originated and closed over $2 Billion in total volume, with over 120 transactions, and several thousand residential units. Mr. Bowis is responsible for structuring and pricing conventional cash mortgages in the Western Region through a team of Program Plus Seller/Servicers. Mr. Bowis works closely with the Capital Markets group, and all phases of credit and underwriting. He has consistently been a Top Producer for Freddie Mac on a National level. Previously, he worked with Meridian Capital financing multifamily projects with Fannie Mae. Mr. Bowis received his Bachelor of Arts degree from The University in Vermont. He holds a California Real Estate license, and professional affiliations include Urban Land Institute & Mortgage Bankers Association.

Chip Hudson | Senior Vice President/Chief Credit Officer, Greystone Servicing Corporation, Inc.

Chip Hudson is Senior Vice President/Chief Credit Officer for Greystone Servicing Corporation’s Fannie Mae DUS™ platform. His responsibilities include credit decision oversight, process management, assurance of compliance with Fannie Mae origination guidelines, new product development, and the documentation and development of credit policy and procedures. He is also chairman of Greystone’s new loan origination loan committee and sits on the firm’s special asset management committee. Prior to joining Greystone in 2003, he helped Nationwide Life build its capital markets lending platform. His duties included pricing loans, modeling pools, loan structuring and underwriting commercial and multifamily loans. Mr. Hudson holds a Bachelor of Arts degree from Rhodes. Greystone Servicing Corporation is a top Fannie Mae DUS™ originator with 2009 recognition as the Top Affordable Housing Producer and Outstanding Small Loan Production.

Mary McDonald | First Vice President, CBRE Capital Markets, Inc.

Mary brings more than 25 years’ experience in the underwriting and structuring of debt and equity for all property types to CBRE’s HUD FHA group. Prior to joining the HUD FHA, Mary was a senior member of the San Francisco CBRE Capital Markets team, having joined Coldwell Banker Commercial in 1989. Mary has financed more than $2.5 billion in permanent loans, joint ventures, construction loans, bridge and mezzanine loans, land and development loans, and various equity formats. She has also performed collateral reviews of loan portfolios for CBRE’s correspondent lenders. Her particular focus has been multifamily financing.

Trends in Bay Area Hotel Markets and Hotel Finance

Tuesday, October 12th, 2010 | Omni Hotel, San Francisco

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6:00 to 6:45 pm – Cocktail Reception
6:45 to 8:30 pm – Dinner & Program

Please join us for a lively and in-depth discussion with leading local hotel experts on the state of the hotel markets. March 2010 saw the first month in which fundamentals began to improve and provided a catalyst for investors who had been raising capital and waiting on the sidelines. The last 3 months alone have seen over $150 million of hospitality trades occur in San Francisco alone, and our panelists have been involved in these high profile transactions and will provide us with in-depth insight in how these deals got done and were financed.

PANELISTS

Robert Rubano | Director, Eastdil Secured

Robert Rubano is responsible for the structuring and placement of commercial mortgage financings as well as secondary loan sales. Mr. Rubano has extensive experience working throughout various parts of the capital stack; including first mortgages, B-notes, mezzanine financings and preferred equity.  Since joining Eastdil Secured in 2006, Mr. Rubano has directly worked on transactions totaling over $25 billion.  In 2010 alone, he has closed over $150,000,000 of hotel financings, including the $80,000,000 refinancing of the Intercontinental Hotel at Moscone and the $42,500,000 refinancing of the JW Marriott in New Orleans and is currently marketing over $1.5 billion of hotel debt. He holds an MBA from UCLA’s Anderson School of Management and a Bachelor of Science in Mechanical Engineering from Virginia Tech.

Richard Ehmer | President, The Ehmer Group

Richard Ehmer is the Founder and President of The Ehmer Group. Prior to recently setting up The Ehmer Group, Richard was a First Vice President and a Senior Director of the National Hospitality & Gaming Group at Marcus & Millichap. He started at Marcus & Millichap in 1986 and has closed over $2,000,000,000 in commercial transactions, which has consisted of over $1,500,000,000 in hospitality transactions. Prior to joining Marcus & Millichap he worked in the construction industry using his Civil and Heavy Construction Engineering Degree to build hotels and other commercial buildings in the major New York Metropolitan Area.

During his career he has worked extensively with key hotel and gaming executives and principals in marketing their assets and negotiating successful transactions on their behalf. He has represented owners that include hospitality REITS, public hotel companies, gaming companies, insurance companies, hotel management companies, offshore investors, and multiple-to-single asset owners. His experience covers resorts, major full service hotels, limited service hotels, casinos and leasehold transactions. He also has expertise in negotiating franchise and hotel management contracts for his clients.

Mr. Ehmer also currently owns and operates several hospitality assets in the San Francisco Bay Area, including the newly branded Crescent Hotel in Union Square (formerly the Allison Hotel). He has also developed, renovated and repositioned hotels in his career.

Mark McDermott | Senior Managing Director, PKF Capital

Mark brings over 18 years of lodging industry experience to Colliers, and has represented public and private entities on transactions in California, Hawaii, Utah, Colorado, Texas, Arkansas, Louisiana, and Tennessee. He is responsible for hotel and leisure property transactions in California, Hawaii, and the Western States, and continues to be instrumental in building the San Francisco headquarters while overseeing a professional team of brokers, analysts and administrative personnel. Mark began his career with Colliers in Dallas. Prior to that, he worked in the development and acquisitions department with Wyndham Hotels and Resorts. In the last few months Mark was involved in the sale of the famed 416 room Silverado Resort and Spa in Napa and represented the seller’s of the 170 room Sheraton Pleasanton.

Mark received his undergraduate degree in Finance from Texas Christian University, and holds both an MBA and an MHM (Master of Hospitality Management) from the University of Houston.