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:

Lea Overby, Managing Director, Morningstar Credit Ratings, LLC

Lea Overby is Managing Director of CMBS Research and Analytics for Morningstar Credit Ratings, LLC. She is responsible for increasing Morningstar’s thought leadership presence across the structured finance community through publishing market driven research, holding investor meetings, and representing the firm in various industry groups. In addition, she serves as a knowledge base for the investor community, as well as for issuers and arrangers, and she works closely with Morningstar’s leaders to support various ratings activities and business initiatives. Before joining Morningstar, she served as head of ABS and CMBS Research in the Americas at Nomura Securities International, the global investment bank. Lea joined Nomura in 2010, from BNY Mellon, where she worked for five years managing a portfolio of CMBS Securities as a Credit Analyst. Previously, she was a CMBS Research Analyst at Banc of America Securities, where she analyzed CMBS data for the modeling and trading teams. Lea holds a BS in Mathematics from the University of North Carolina at Chapel Hill, and a MA in Mathematics from Vanderbilt University.

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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