CMBS and the Real Estate Lawyer: Lender and Borrower Issues in the Capital Market 2020 | Practising Law Institute (PLI) | 24 January 2020 | Practising Law Institute, 1177 6th Ave, New York, NY 10036, USA

With the volume of CMBS and Commercial Real Estate - Collateralized Loan Obligation (CRE-CLOs) transactions reaching $75 Billion in 2018 and projections for 2019 CMBS and CRE-CLO issuance exceeding 2018, commercial mortgages destined for CMBS and CRE-CLO issuance are once again becoming a significant portion of mortgage loan origination. Today both large Single Asset/Single Borrower (SASB) and conduit loans continue to be originated. The MBA’s First Quarter 2019 Commercial/Multifamily DataBook states that “[t]he momentum seen in 2018's record year of borrowing and lending continued in the first quarter of this year. Volumes were higher for nearly every property type….Low interest rates and strong property values continue to make commercial real estate an attractive market for borrowers. Mortgage debt backed by commercial and multifamily income-producing properties continues to grow at a strong pace.” Find out how these unprecedented levels were driven by the CMBS market from our expert faculty as they discuss key developments in the CMBS market, including the state of the CMBS market, workouts and restructuring, and complex issues faced by CMBS borrowers.

What You Will Learn:
• Short history of CMBS and CRE-CLO markets and an introduction to CMBS/CRE-CLO jargon
• Review the process and structures for commercial mortgage securitization
• How REMIC and other tax rules affect the origination, servicing, workout of loans in CMBS and CRE-CLOs
• How to create the mortgage loan for securitization when representing lenders, borrowers and guarantors in conduit and large loan transactions
• Componentizing the mortgage loan when representing senior and subordinate lenders in the financial capital stack
• How to represent borrowers and guarantors after securitization with CMBS trustees and servicers and CRE-CLO managers
• The differences between mortgage warehouse arrangements, repo lines, and CRE-CLOs

Who Should Attend
• Real estate attorneys; real estate and hotel investment bankers, lenders and brokers; real estate and hotel general counsel and senior business executives; hotel asset managers and acquisition managers, and investment advisers; and other real estate or hotel advisers and consultants will benefit from attending this program.

2020 Speakers

Stacy G. Ackermann
Partner, Charlotte office, Leader, K&L Gates

David W. Forti
Co-Chair, Dechert LLP

Joseph Franzetti
Senior Vice President, Berkadia Commercial Mortgage LLC

Alan Kronovet
Executive Vice President, Head of Wells Fargo Commercial Mortgage Servicing

Ana Rosu Marmann
Director, Citigroup Global Markets Inc.

Jed Miller
Cadwalader Wickersham & Taft LLP

Kurt Pollem
Managing Director, DBRS Morningstar Credit Ratings

Tiffany Putman
Benefit Street Partners LLC, New York, NY, USA

Daniel B. Rubock
Senior Vice President, Moody's Investors Service, Inc.

Brennan P. Woods
Vice President, CMBS Capital Markets

CHAIRPERSONS:

Joseph Philip Forte
General Counsel, AmTrust Title Insurance Company / First Nationwide Title Agency

Meredith J. Kane
Paul, Weiss, Rifkind, Wharton & Garrison LLP