Emerging Asset Advisory Receivership and Loan Modification Strategies

Tuesday, April 13th, 2010* | Omni Hotel, San Francisco

*Please note new schedule

$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 join us for an in-depth discussion on the current-and-near-future of how troubled properties are trickling out of lenders’ hands, and the type of advisory work and opportunity-buying they present. With a panel of experts engaged in actual advisory work and receivership, the discussion will illuminate opportunities for developers, investors, and real estate consultants as properties make their way to re-marketing, turnaround, REO or outright sale. How these trickle-out property deals are being handled? How securitized CMBS workout strategies differ from balance sheet lenders? How to extend and modify when your loan documents don’t provide these rights? Who to contact when and what to tell them?

MODERATOR

Stephen Duffy | Managing Director, Moss Adams Capital

Stephen J. Duffy is a Managing Director and the leader of the real estate consulting and investment banking business in Moss Adams Capital. He has over 27 years of real estate consulting and capital markets experience.  Mr. Duffy has been a partner at both Kenneth Leventhal & Company and Ernst & Young LLP.  In addition, he has operating executive experience as a chief operating officer, principal and managing principal in the multi-family industry and the institutional real estate private equity sector.  Mr. Duffy has worked with a wide variety of the leading private and public real estate operating companies across product types, the capital stack (equity investors and lenders), and domestic and international markets.  He has significant experience in restructuring, capital markets and strategic planning and he has been involved in numerous capital transactions as well as mergers and acquisitions within the industry over a number of real estate cycles.  He has spoken on these topics in a variety of industry forums over his career.   A full member of the Urban Land Institute, he has a B.S. in Economics as well as an MBA from the Graduate School of Business of Fordham University.

PANELISTS

Tony Theophilos | of-counsel,  Starr Finley, LLP

Tony Theophilos, of-counsel with San Francisco-based Starr Finley LLP, has a 35-year, multi-disciplinary career as a real estate attorney, CEO of Bay Area companies, real estate investor/developer and receiver, most recently handling the receivership of 250 Montgomery Street. Tony has been a law partner at global firms Morrison & Foerster and Coudert Brothers, as well as the former Crosby Heafey Roach & May of Oakland. His practice included domestic and international acquisition, disposition, structuring and workouts of large properties on behalf of U.S. and offshore entities. Tony has also served on the board of directors of troubled Bay Area companies and/or been appointed acting CEO, including a real estate syndication firm,  mortgage-banking and a retailer, all of which were successfully managed to maximize assets and resolve complex situations. As a developer/investor for his own account, Tony most recently assembled and permitted parcels on Van Ness Ave. which were acquired by a builder/developer. A member of the California Bar, Tony is rated “AV” by Martindale Hubbell and has been named a “Super Lawyer” by California Lawyer Magazine. A member of the International Council of Shopping Centers and Lambda Alpha, he graduated from American University in Washington, D.C. in 1971 and from its Washington College of Law in 1973.

Joseph Heil | Partner, Dechert, LLC

Joseph B. Heil, co-chair of Dechert’s finance and real estate practice and managing partner of Dechert’s San Francisco office, focuses his practice on securitized lending, workouts, restructurings, commercial mortgage servicing, debt funds, mezzanine debt, preferred equity, and private equity transactions. Early in his career, Mr. Heil helped develop the criteria used in rating CMBS transactions. In 1998, Mr. Heil left Dechert to become the chief legal officer of Capital America/Nomura Asset Capital Corporation. Upon his return to Dechert, he has substantially grown the San Francisco office to include real estate professionals of the highest caliber who are dedicated solely to high-end real estate capital markets finance. Mr. Heil has served on a variety of committees for the Commercial Mortgage Securities Association and is a member of the Mortgage Bankers Association of America and the American Bar Association. He holds a BA with honors from the University of Notre Dame, an M.A. from UC Berkeley and his JD from UCLA.

Chris Hunter | Principal, Morgan Miller Blair

Chris Hunter is a Principal in the law firm, Morgan Miller Blair, and is the Chairman of the firm’s Real Estate Practice Group. Chris began his legal career working for a San Francisco law firm that was general counsel to a major bank.  He represented the bank and other financial institutions in a wide variety of real estate lending matters, including loan workouts, foreclosures, bankruptcies, receiverships and the management and disposition of REO properties.  Since joining Morgan Miller Blair in 1999, Chris has negotiated billions of dollars in acquisitions, loans and leases.  In addition, Chris has substantial experience with distressed assets, and represents lenders, borrowers and opportunistic inventors in transactions involving a broad spectrum of real estate matters and was recently named counsel to the receiver on one of the West Coast’s largest properties to go into default, the $750M Sunnyvale Town Center.