Moody's Investors Service
Moody's Investors Service, 7 World Trade Center, 250 Greenwich St, New York, NY 10007, USA

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Event Date Thu Feb 20 EST (almost 2 years ago)
Location Moody's Investors Service
7 World Trade Center, 250 Greenwich St, New York, NY 10007, USA
Region Americas

CMBS and CRE CLOs are important methods of financing commercial real estate in the United States. In this panel discussion, industry leaders will compare and contrast the collateral, structures, performance and issuance of CMBS (including conduit/fusion, SASB and large loan) with that of CRE CLOs. Experts will review the similarities across the two CRE securitization types and also point out key differences. CRE securitization continues to evolve and this panel will also take a look at where we are now and where we might be headed.

Topics that will be covered during the panel include:
• How CMBS and CRE CLO transactions and structures compare to those employed pre-crisis, and how they have evolved in the last couple of years.
• The differences in loan characteristics between those seen in CMBS, CRE CLOs and other areas of the CRE debt markets.
• The differences in deal structure between CMBS and CRE CLO transactions, including static vs. revolving transaction features.
• How these different loan and deal characteristics can result in different types of real estate collateral in CMBS and CRE CLO deals.
• Which types of lenders contribute to CMBS and CRE CLO transactions and the key differences in underwriting and ongoing servicing/transaction management.
• Which types of investors focus on CMBS and CRE CLO deals and the different considerations from a risk/return perspective.
• Whether from a borrower perspective the experience between CMBS and CRE CLO financing differs.
• What the future holds for both CMBS and CRE CLO, and their place within the CRE debt landscape.


2020 Speakers

Blair Coulson
Senior Credit Officer, Moody's Investors Services

Shaishav Agarwal
Managing Director, Deutsche Bank Securities Inc.

Matt Armstrong
Associate, Dechert LLP

Michael Barbieri
Vice President, Goldman, Sachs & Co.

Meena Pursnani
Director, MetLife Investment Management

Jason Ruckman
Managing Director, Head of Capital Markets, TPG Real Estate Finance

Sponsors & Partners

2020 Sponsor

• Moody's Investors Service