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CATCHING THE WAVE: BUYING AND SELLING DISTRESSED DEBT
Major declines in asset values and unprecedented de-leveraging will cause a massive inflow of debt onto the global market. During the 1991–1994 market shakeout, savvy investors achieved outstanding returns from their purchase of distressed debt, including the bulk purchase of loans out of Resolution Trust Corporation (RTC) portfolios. Once again we find the market presenting extraordinary opportunities. This panel will discuss the current state of commercial real estate debt. In particular, the panel will review the main players actively engaged in doing deals, the types of deals that are being made in the distressed debt arena, and the most effective strategies for making investments in such debt.
MODERATOR
Sarah Spyksma, Partner
Sidley Austin LLP
Sarah Spyksma, a partner in Sidley Austin LLP’s Real Estate Group, represents developers, financial institutions, non-institutional investors, and opportunity funds in a broad spectrum of real estate-related transactions, including joint ventures, preferred equity investments, financings, syndications, loan restructurings, and property dispositions. MORE>
PANELISTS
Jonathan Firestone, Managing Director
Eastdil Secured, LLC
Jonathan Firestone, managing director for Eastdil Secured, LLC, is responsible for the structuring, marketing, and transaction execution of commercial mortgage, mezzanine, and preferred equity financings for all asset classes. In addition, Mr. Firestone focuses on structured finance transactions, secondary mortgages, and subordinate debt sales.
Jonathan Klein, Managing Director
Fortress Investment Group LLC
Jonathan Klein is a managing director of Fortress Investment Group LLC and co-heads the Real Estate Group for Fortress’s “Drawbridge” funds. Prior to Fortress, Mr. Klein was a principal for two New York-based real estate investment firms where he was involved in more than $3 billion of debt originations, distressed acquisitions, and equity investments.
Jonathan Roth, Principal
Canyon Capital Realty Advisors LLC
Jonathan Roth is a principal of Canyon Capital Realty Advisors LLC, a diverse real estate investment platform. Since 1991, Canyon has invested in more than 225 commercial real estate and mortgage assets with a total value in excess of $8.7 billion. Mr. Roth leads Canyon’s real estate debt and distressed investment platforms. Prior to joining Canyon in 1997, Mr. Roth was a partner in Loeb & Loeb’s Real Estate Group. MORE>
Return to Breakout Sessions Listing>
Major declines in asset values and unprecedented de-leveraging will cause a massive inflow of debt onto the global market. During the 1991–1994 market shakeout, savvy investors achieved outstanding returns from their purchase of distressed debt, including the bulk purchase of loans out of Resolution Trust Corporation (RTC) portfolios. Once again we find the market presenting extraordinary opportunities. This panel will discuss the current state of commercial real estate debt. In particular, the panel will review the main players actively engaged in doing deals, the types of deals that are being made in the distressed debt arena, and the most effective strategies for making investments in such debt.
MODERATOR
Sarah Spyksma, Partner
Sidley Austin LLP
Sarah Spyksma, a partner in Sidley Austin LLP’s Real Estate Group, represents developers, financial institutions, non-institutional investors, and opportunity funds in a broad spectrum of real estate-related transactions, including joint ventures, preferred equity investments, financings, syndications, loan restructurings, and property dispositions. MORE> PANELISTS
Jonathan Firestone, Managing Director
Eastdil Secured, LLC
Jonathan Firestone, managing director for Eastdil Secured, LLC, is responsible for the structuring, marketing, and transaction execution of commercial mortgage, mezzanine, and preferred equity financings for all asset classes. In addition, Mr. Firestone focuses on structured finance transactions, secondary mortgages, and subordinate debt sales.Jonathan Klein, Managing Director
Fortress Investment Group LLC
Jonathan Klein is a managing director of Fortress Investment Group LLC and co-heads the Real Estate Group for Fortress’s “Drawbridge” funds. Prior to Fortress, Mr. Klein was a principal for two New York-based real estate investment firms where he was involved in more than $3 billion of debt originations, distressed acquisitions, and equity investments.Jonathan Roth, Principal
Canyon Capital Realty Advisors LLC
Jonathan Roth is a principal of Canyon Capital Realty Advisors LLC, a diverse real estate investment platform. Since 1991, Canyon has invested in more than 225 commercial real estate and mortgage assets with a total value in excess of $8.7 billion. Mr. Roth leads Canyon’s real estate debt and distressed investment platforms. Prior to joining Canyon in 1997, Mr. Roth was a partner in Loeb & Loeb’s Real Estate Group. MORE> Return to Breakout Sessions Listing>