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THE GREAT DE-LEVERAGING: ACCESSING CAPITAL IN THE NEW REAL ESTATE LENDING PARADIGM
Constrained access to loans is profoundly affecting commercial real estate. The landscape has changed dramatically and a new paradigm is emerging–leverage is out, conservative underwriting and structuring are in for the foreseeable future. Lenders are once again required to hold a portion of the risk in deals they originate, ensuring an alignment of interests. This panel will explore this new paradigm, with a focus on the future of securitization, the increasingly important role of private equity and specialty finance groups, and the impact that bank consolidations will have on commercial bank lending.
MODERATOR
Drew Flowers, Partner
Gibson, Dunn & Crutcher LLP
Drew Flowers is a partner in the law firm of Gibson, Dunn & Crutcher LLP. Mr. Flowers practices in the firm's real estate department. His real estate practice experience includes extensive representation of real estate lenders in connection with workouts, loan enforcement, the purchase and sale of secured loans, and loan origination. MORE>
PANELISTS
Patrick Crandall, Managing Director
CIBC World Markets
Patrick Crandall is head of West Coast originations for CIBC, a Canadian bank that provides senior commercial real estate financing throughout the U.S. He has more than 20 years of real estate experience, most recently with iStar Financial and Fremont Investment & Loan, having overseen more than $3 billion in originations as regional manager of Fremont’s New York office.
Jeff Friedman, Principal
Mesa West Capital
Jeff Friedman cofounded Mesa West Capital (Mesa West) in 2004. Mesa West is an active Los Angeles-based commercial real estate finance company that has placed more than $1.5 billion of capital since inception. Mesa West’s primary business is non-recourse bridge lending for value-added or transitional properties and mezzanine financing in select situations, ranging from $10 million to $100 million in the western United States. MORE>
Robert Verrone, Partner
Scoggin Capital Real Estate
Robert Verrone is a partner at Scoggin Capital Real Estate and has 18 years of experience in commercial real estate. Most recently, Mr. Verrone co-headed the Commercial Real Estate Group for Wachovia Securities where he oversaw a portfolio of debt valued in excess of $80 billion and had management responsibility for approximately 600 employees.
Return to Breakout Sessions Listing>
Constrained access to loans is profoundly affecting commercial real estate. The landscape has changed dramatically and a new paradigm is emerging–leverage is out, conservative underwriting and structuring are in for the foreseeable future. Lenders are once again required to hold a portion of the risk in deals they originate, ensuring an alignment of interests. This panel will explore this new paradigm, with a focus on the future of securitization, the increasingly important role of private equity and specialty finance groups, and the impact that bank consolidations will have on commercial bank lending.
MODERATOR
Drew Flowers, Partner
Gibson, Dunn & Crutcher LLP
Drew Flowers is a partner in the law firm of Gibson, Dunn & Crutcher LLP. Mr. Flowers practices in the firm's real estate department. His real estate practice experience includes extensive representation of real estate lenders in connection with workouts, loan enforcement, the purchase and sale of secured loans, and loan origination. MORE> PANELISTS
Patrick Crandall, Managing Director
CIBC World Markets
Patrick Crandall is head of West Coast originations for CIBC, a Canadian bank that provides senior commercial real estate financing throughout the U.S. He has more than 20 years of real estate experience, most recently with iStar Financial and Fremont Investment & Loan, having overseen more than $3 billion in originations as regional manager of Fremont’s New York office.Jeff Friedman, Principal
Mesa West Capital
Jeff Friedman cofounded Mesa West Capital (Mesa West) in 2004. Mesa West is an active Los Angeles-based commercial real estate finance company that has placed more than $1.5 billion of capital since inception. Mesa West’s primary business is non-recourse bridge lending for value-added or transitional properties and mezzanine financing in select situations, ranging from $10 million to $100 million in the western United States. MORE> Robert Verrone, Partner
Scoggin Capital Real Estate
Robert Verrone is a partner at Scoggin Capital Real Estate and has 18 years of experience in commercial real estate. Most recently, Mr. Verrone co-headed the Commercial Real Estate Group for Wachovia Securities where he oversaw a portfolio of debt valued in excess of $80 billion and had management responsibility for approximately 600 employees.Return to Breakout Sessions Listing>