Bridge Debt: Lending on transitional assets
Tuesday, February 15th, 2011 | Omni Hotel, San Francisco
$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
.
**** Please note: due to the MBA CREF conference in San Diego, this month’s BAMA event will be held on the 3rd Tuesday of the month****
Please join us for a lively discussion with some of the leading capital sources of bridge loans. Portfolios of commercial real estate debt have grown at small and medium-sized banks to extreme levels in recent years. As a result, these financial institutions have significantly tightened their lending standards to shrink their CRE exposure. Additionally, with $1.4 trillion in CRE loans coming due in the U.S. between 2010 and 2014, there is a massive liquidity crunch and a “flight to quality” among lenders. Banks, CMBS, and Life Companies are writing conservative loans on stabilized cash flowing assets but where do you go to finance a lease-up play, value-add deal, or empty building today? Come listen to our panelists discuss the creative structures and opportunistic lending being done to create solutions for fundamentally strong real estate in transition.
MODERATOR
Thomas McKnew | Principal, U.S. Realty Capital
Tom is one of the founders and principals of US Realty Capital and is based in San Francisco. He has worked in various positions in the real estate industry encompassing finance, sales, consulting, and asset management. Tom is a licensed broker in the State of California and has a Masters Degree in Real Estate Development and a Bachelor of Science in Public Administration and Urban Planning from the University of Southern California.
Financing requests for his Clients have included equity, mezzanine, construction, long term debt, and joint venture transactions. Capital sources include credit companies, pension funds, wall street conduits, banks, hedge funds, life insurance companies, private funds, and off shore capital sources. Past product type financed include multi family, industrial, office, hotel, retail, self storage, parking garages, golf courses, master planned communities, and agricultural properties throughout the United States.
Professional real estate organizations that Tom is involved in include NAIOP, ULI, MBA, and is Past President of BAMA (Bay Area Mortgage Association). His past experience combined with his professional education in real estate development make him an important part of the real estate finance team.
PANELISTS
Adam Zoger | Senior Principal/Fund Manager, PCCP, LLC
Adam M. Zoger joined PCCP in May 2001. Mr. Zoger oversees the Bay Area and Nehemiah Sacramento Valley Funds. In addition, Mr. Zoger leads the firm’s discounted debt acquisition efforts and headed the firm’s entrance into the real estate lending syndication and participation market. Prior to joining PCCP, Mr. Zoger was a Senior Vice President at Bankers Mutual/Bay View Bank in San Mateo. Prior to Bankers Mutual, Mr. Zoger was a Vice President of Finance and Loan Workouts at Riverbank Financial Group. Mr. Zoger received a B.A. in Economics from Wesleyan University.
.
Chris Tokarski | Managing Director, Starwood Capital Group
Mr. Tokarski has 16 years of experience in commercial real estate lending. He served as Chief Credit Officer at Countrywide, with responsibility for credit approval and oversight of underwriting, risk and asset management processes. Prior to CCP, from 1995 to 1999 Mr. Tokarski was a Director in the CRE division at Nomura and ran the commercial mortgage underwriting and securitization group. He established credit and underwriting guidelines as well as approved credit and underwriting for all CRE debt and equity. He also coordinated Nomura’s securitization process and interaction with the credit rating agencies for CRE assets, which totaled more than $19 billion. Prior to joining Nomura, Mr. Tokarski worked at Bear Stearns from 1993 to 1995 as an analyst in the CRE division. Mr. Tokarski earned a B.A. degree from Brown University in 1993 with a double concentration in Business Economics and Organizational Behavior and Management
.
Eric Boyd | Principal, Cross Harbor Capital Partners
Eric S. Boyd joined CrossHarbor Capital Partners LLC in 2006 and is currently a Principal responsible for originating, analyzing and structuring equity and debt investment opportunities for the firm’s various investment funds.
.
Prior to joining the firm, Mr. Boyd was an Associate in the Real Estate and Lodging Investment Banking Group of Banc of America Securities LLC based in San Francisco, California. As an investment banker, Mr. Boyd was directly involved in the execution of greater than $4.7 billion in completed transactions for mergers, acquisitions, debt and equity advisory assignments. While part of Banc of America Securities LLC, and formerly Fleet Securities, Mr. Boyd was also in the Real Estate Loan Syndications Group and executed numerous syndicated debt transactions across all major property types for leading real estate developers and operators. Mr. Boyd began his career as a Financial Analyst in the Investment Banking Division of J.P. Morgan Securities in New York City.
Mr. Boyd received a Bachelor of Science Degree, with honors, in Accounting and a Minor in Business Law from Bentley College. Mr. Boyd is an active member of the Real Estate Investment Advisory Council and the Urban Land Institute.
..
.
.
.
.
.
.
.
.
.
.
.
.
