12 July 2018

REFI Briefing: Understanding CRE Collateralized Loan Obligations

Commercial real estate CLOs have been rising in popularity among investors and lenders. Find out how they work and what’s driving the trend.



Date: 12 July 2018


Venue: Lambs Club, New York


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Add to Calendar 07/12/2018 08:30 America/New_York REFI Briefing: Understanding CRE Collateralized Loan Obligations Commercial real estate CLOs have been rising in popularity among investors and lenders. Find out how they work and what’s driving the trend. Lambs Club, New York false MM/DD/YYYY
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The CRE Collaterized loan obligations market had a bellwether year in 2017, with 18 deals totaling about $8bn completed, and as much as $12-14bn projected for this year. Discussion points will include:

  • Understanding the CRE collateralized loan obligations structure
  • Using CRE collateralized loan obligations as an alternative to finance loan production
  • The cost of issuance versus warehouse lines or other structures
  • The potential for pricing risk, particularly in a rising rate environment

Speaker Panel:

Nitin Bhasin, CFA, Senior Managing Director, Kroll Bond Rating Agency, Inc

Nitin Bhasin is a senior managing director in the commercial real estate group at Kroll Bond Rating Agency, where he co-manages new issue ratings and surveillance of CMBS, CRE CLO, Small Balance Commercial, and Single Family Rental transactions. During his tenure, the group has rated nearly $400 billion of CRE securitizations, and has been widely recognized as a leader in the space.  Mr. Bhasin was one of the earliest employee at KBRA, and has been instrumental in the company’s early development and its subsequent growth. Previously, among other roles, Mr. Bhasin was at Wells Fargo Securities’ securitization and proprietary investing desks, where he structured and banked CRE CDOs, and made equity and debt principal investments in CRE assets, respectively.

Gene Kilgore, Executive Vice President, Structured Securitization, Arbor Realty Trust

Gene Kilgore joined Arbor in October 2004 and is responsible for overseeing the development, marketing and implementation of Arbor Realty Trust’s collateralized debt obligation (CDO) structures. He has a unique and strategic expertise and brings a wealth of professional experience from his work in the structured finance and real estate industries. Prior to joining Arbor, Mr. Kilgore was a portfolio manager at ZAIS Group LLC with a CDO and real estate focus. Previously, he structured CDOs as a director in the risk finance group at Barclays Capital; rated CDOs and CMBS as a director with Standard & Poor’s; and served as a vice president at Wachovia Bank with positions in commercial real estate and corporate lending.

Joan Sapinsley, Adjunct Instructor, Fordham University Real Estate Institute

Joan Sapinsley is an Adjunct Instructor at Fordham’s Real Estate Institute and will teach Capital Markets in its Masters in Real Estate program in the fall of 2018. Joan  has 35 years of commercial real estate experience. She started her career as a real estate consultant at accounting firm Laventhol & Horwath. She then moved to Cushman & Wakefield, a global commercial real estate company, serving in its Financial Services Group, after which she spent 15 years at Teachers Insurance and Annuity Association (TIAA), purchasing commercial mortgage backed securities (CMBS). She was responsible for all single borrower and single asset CMBS, as well as subordinate CMBS and B-notes. She also directed TIAA’s small balance commercial mortgage loan origination and securitization activities.

 

Joseph Iacono, CEO and Managing Partner, Crescit Captial Strategies

Joseph Iacono is Chief Executive Officer and Managing Partner at Crescit Capital Strategies, a premier, full-service asset management firm that specializes in commercial real estate debt origination and investment. Mr. Iacono also serves as the firm’s Chief Investment Officer. Joseph Iacono’s specialized experience in all aspects of the CRE debt financing market have made him, along with his experienced leadership team, uniquely qualified to provide the market a “one-stop” full-service platform for commercial mortgage debt origination and high yield generation in the CRE space.Before founding Crescit Capital Strategies, Joseph Iacono was a Founder and the Chief Investment Officer at a CRE-focused alternative asset management firm. He has held various senior executive positions within investment and commercial banks, including Nomura Securities and JP Morgan Chase.

Sondra Campanelli, Capital Markets Reporter, Real Estate Finance & Investment

Sondra Campanelli covers the commercial real estate financing market for Real Estate Finance & Investment. She has been with the publication since 2016.

 

 

 

 

Agenda:

8:30am     Registration & networking breakfast
9:10am     Introduction from Real Estate Finance & Investment
9:15am     Panel discussion: Understanding CRE collateralized loan obligations
10:00am  Questions
10:15am  Close

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