Distressed Real Estate Summit - California


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Distressed Real Estate Summit - California

  1. 1. Distressed Real Estate SummitCALIFORNIASheraton Los Angeles Downtown | Los Angeles, CA | February 24, 2011
  2. 2. ASSET MANAGEMENT SYMPOSIUM New York’s leading conference on Real Estate Asset and Property Management PRESENTED BY GREENPEARL EVENTS March 24, 2011 | McGraw-Hill Conference Center | New York, New York 20% OFF for DISTRESSED REAL ESTATE SUMMIT CALIFORNIA Attendees Use discount code DRESCA11 Speakers include Asset Managers controlling $150B in real estate assets, including BlackRock, JP Morgan, TIAA-CREF, Prudential Real Estate Investors, and Mack-Cali. Hear themshare their expertise and join over 400 property and asset managers, building owners, brokers, service providers, vendors, and other real estate executives and principals for a full day of programming, exhibits and networking. Registration and Program Information is available at www.greenpearlevents.com/irem For more information, email events@greenpearlevents.com or call +1 646 862 6136
  3. 3. Dear Esteemed Colleague:The distressed real estate landscape may look differentthan it did a year ago, but for investors and industry playerswho know where to look, it’s no less fertile. Transactionsare definitely happening.However, the deluge of great deals never happened, and New Year, New Ideas,it may never come.  For those who are successfully gettingtheir claws in deals, the discounts are not living up to New Contacts…expectations, with rare exceptions. And for many, getting EXPAND YOUR BUSINESS IN 2011access to deal flow has turned out to be much more As GREENPEARL EVENTS continues to grow and bringdifficult than expected. Banks and special servicers education and networking events to real estate professionals,appear to be repeating a similar mantra in unison: “If I we’d like to say thank you to all of our attendees, sponsors,don’t already know you, I don’t want to know you.” and partners for making 2010 a year to remember. The com- bined successes have set the stage for more growth and moreWith that said, how do we get deals at deep discounts that opportunities in 2011.appear to be warranted due to decreased valuations,impaired cash flows and/or distressed sellers? And how HERE ARE SOME OF THE PROGRAMSdo relative newcomers get access to deals from which they YOU CAN LOOK FORWARD TO:are currently excluded without going through the front doorof brokers and over-valued asking prices? These questions COMMERCIAL REAL THE BROOKLYNwill be addressed during today’s conference. ESTATE SUMMIT: REAL ESTATE SUMMIT BEYOND DISTRESS NEW YORK CITYFrom a borrower’s perspective, capital markets are offering MIDWEST June 16incredibly low rates for performing properties, but what do Chicago – May 12you do if you are still struggling with an inverted capital NEW YORK CMBS 2.0 - New York City – September 22stack or under-/non-performing property? Many banks REAL ESTATEhave a “take-it-or-leave it” attitude when it comes to ASSETrelations with distressed borrowers.  IREM NYC ASSET SECURITIZATION MANAGEMENT FORUMSo, what creative strategies are borrowers putting into play SYMPOSIUM NEW YORK CITYto bring lenders and special servicers to the table? Where NEW YORK CITY October 27are borrowers turning for fresh capital? Which investors March 24are leading three-party deals (aka short sales) for commer- MULTIFAMILY SUMMITcial property? How does a borrower get out from under MASSEY KNAKAL CRE INVESTMENT SUMMIT CHICAGOper sonal guarantees and avoid life-devastating September 15consequences? NEW YORK CITY May 19 NEW YORK CITY November 16These questions are core to the agenda.In the room today are investors, borrowers, banks, MORE INFORMATION ABOUT GREENPEARL EVENTSservicers, attorneys, brokers, workout consultants, and Events are continuously added, so please check back tomore.  We hope you will take the opportunity to get to www.greenpearlevents.com for updates and a full list of programs. Early bird and group discounts are available.know your fellow attendees and explore the possibility ofworking with them. Visit www.greenpearlevents.com for pricing and registration deadlines. Register early and you can save up to $300 off the cost of a single event.Thank you for helping to make today successful! Ryan Slack SPONSORSHIP, SPEAKING AND EVENT INQUIRIES Please contact events@greenpearlevents.com orRyan Slack (646) 862-6136 x2.Chief Executive OfficerGreenPearl Events For information on sponsoring, please contact Tammy Jean Weiss at (646) 862-9397 or events@greenpearlevents.com 3
  4. 4. Lone Oak Fund, LLC is a private mortgage fund larger than many banks that makes bridge loans typically ranging from $250K to $10M on properties throughout California. Founded and managed by experienced real estate developers, Lone Oak Fund is the preferred lender for institutional banks, commercial banks, mortgage bankers, mortgage brokers, developers, attorneys, life insurance companies, equity funds, CPAs, financial advisors, estate planners, money managers, and other professionals seeking fast, reliable bridge financing for their clients, while providing an additional profit center. Lone Oak Fund also offers a Line of Credit for buyers of houses from banks and at Trustee Sales, with credit lines from $1.5M to $10M, and loan amounts from 50 to 60 percent of the purchase price at 8.9% interest only. First trust deeds only; interest from 8.9% to 9.9%; no prepayment penalties; funding in less than seven business days; minimal paperwork; creative structuring; broker cooperation. www.loneoakfund.com We are a direct private lender for non-institutional, short-term, CAP helps meet the growing need for a national provider commercial real estate transactions commonly referred to as of general maintenance, preservation, care take, and Private Lending, Hard Money or Bridge Loans. Our focus is to inspection services for abandoned and nearly vacant provide financing for collateral-based, income producing opportunities commercial and industrial real estate. CAP ensures that that require immediate funding and will lend capital up to 65% of estimated value. these properties retain value and don’t further deteriorate, become vandalized, or We have the resources to offer financing options for virtually every product type and receive citations for their physical condition. Services include: boarding/securing, maintain a reputation for speed, integrity, and the ability to fund deals with our own capital. debris/hazard removal, cleaning/janitorial, extermination, winterization, HVAC maintenance, plumbing, electrical, roof maintenance, grounds keeping, parking lot www.bandacp.com maintenance, graffiti removal, environmental hazard testing/remediation, property inspections/evaluations, caretaker services, and more. Bolour Associates, a fully integrated real estate investment, development and syndication firm, is also a well-capitalized www.commercialpreservation.com private lender, making bridge, acquisition and construction loans between $1M to $10M on distressed residential The “Asset Recovery Team” at Sperry Van Ness and commercial properties in California, Arizona, Nevada and Texas. With a (SVNART) has been created to provide any comprehensive infrastructure, a multifaceted executive team and over 30 years client a “single full service source” for the experience covering all areas of real estate, our Distressed Lending Program provides efficient and effective workout and disposition of any real estate related asset including innovative strategies, flexible programs and custom solutions for borrowers loans, portfolios and individual properties of all asset types. In addition to delivering seeking a trusted and strategic capital partner. optimal returns to its clients, SVNART and its strategic partners provide expert guidance www.bolourassociates.com throughout all phases of the real estate market including Broker Opinion of Value, Appraisal, Marketing Proposals, Market Research, Property Management, Asset Preservation, Accelerated Marketing/Auction, Sealed Bid, Investment Brokerage Founded in 1987, GFI provides competitive inter-dealer Services, Leasing Services and Loan Sales. brokerage services in a multitude of global over-the-counter (“OTC”) cash and derivatives markets, including credit www.svn.com derivatives and fixed income, financial derivatives, cash equities and equity derivatives, energy and commodities. GFI is an industry leader in various credit, financial, equity and Trigild is a troubled asset specialist working with financial commodity markets according to recent market surveys published by institutions by combining receivership, consulting, Risk and Energy Risk magazines. management, and disposition services to drive an asset’s www.gfigroup.com upside and maximize its loan recovery. Headquartered in San Diego with regional personnel throughout the country, At CPS Security Solutions®, our success is based on Trigild has more than 30 years of expertise in managing a wide array of commercial real a top management team with experience in Internet estate assets and operating businesses including retail, office, multifamily, industrial, technology, security services marketing, self storage, hotels, resorts, restaurants, and convenience stores, focusing on communications, software development and program turnaround management and repositioning of troubled assets. management. We have a capable, creative team with the vision and energy to effectively www.trigild.com manage a growing company. Headquartered in California, CPS is built on over 20 years of security experience from Construction Protective Services®. Triple Crown Insurance Services prides itself on its stability, www.cpssecurity.com knowledge, professionalism and staying power in today’s changing insurance environment. We treat our clients as The Ernst & Young Global Real Estate partners. We can handle the most challenging business Center brings together a worldwide situations and opportunities imaginable. We develop solutions that take advantage team of professionals to help you of the current insurance markets and provide competitive insurance policies so your achieve your potential – a team with business can be successful. Triple Crown Insurance Services is licensed for property/ deep technical experience in providing assurance, tax, transaction and advisory services. casualty insurance in all 50 states as well as the District of Columbia. Our insurance We work to anticipate market trends, identify the implications, and develop points of clients: Receiverships, Accountants, Lenders with REO and OREO Properties, view on relevant industry issues. It’s how Ernst & Young makes a difference. Asset Managers, Conflict Resolutions Specialists, and Problem Resolutions Specialists. www.ey.com www.triplecrownins.com4 Thank You To Our Summit Sponsors and Partners
  5. 5. WEDNESDAY, FEBRUARY 23Sheraton Los Angeles Downtown Hotel • 711 South Hope Street • Los Angeles, CA 900176:00 – 8:00 pmVIP Reception (By invitation only)A reception for sponsors, partners, speakers and special guests hosted by GreenPearl Events.THURSDAY, JANUARY 27Sheraton Los Angeles Downtown Hotel, 711 South Hope Street, Los Angeles, CA 900177:30AMWorkshop Registration & Coffee8:00AMConcurrent Pre-Conference Workshops (note–separate registration required)Track A - Tax Liens – GFI Tax Receivables: Track B - Working with Receivers:How to Buy and Trade Property Tax Liens Profitably How to Get Access to Deals to Buy and BrokerTom McOsker, Head of Tax Receivables, GFI GROUP Moderator - William Hoffman, President & CEO, TRIGILDHoward Liggett, President, DISTRESSED REAL ESTATE CONSULTING SERVICES, INC. Marc Brooks, Executive Vice President, MARA ESCROW Mark Mersel, Partner, Bryan Cave LLPTax lien investing is entering a new paradigm. The emergence of an institutionalized Phil Seymour, Managing Director, THE SEYMOUR GROUP/ELITE PROPERTIES REALTYsecondary market in this lucrative asset class is allowing for both real estate Robert Smylie, Founder, SMYLIE & ASSOCIATESfocused, and arbitrage focused, managers to participate in this space.For managers seeking yields, tax liens can provide investors with mid-teen Receivers control assets that you want to buy or broker. This workshop helps youreturns, while maintaining an uncorrelated and low risk portfolio. For managers get access, such as: how to get a listing from a receiver; what to do if your listingseeking real estate, tax liens can be an alternative way to acquire real property ends up in receivership; how to get access to acquisition opportunities inwith an extremely low cost basis and superior creditor position. Explore the basics receivership; and the do’s and don’ts of buying and brokering deals in receivership.of traditional tax lien investing in Part I of the workshop, and learn how newactive trading strategies in this century-old asset are creating outsizedreturns for some managers during Part II.8:15AM 10:45AMConference Registration and Coffee in Exhibit Hall Where the Deals Are in 2011: Buying Assets from Banks and Special Servicers9:00AM Moderator - Eric Remensperger, Partner, PROSKAUEROpening Chairperson Remarks Martin Bronstein, Founder & Chairman, THE SITUS COMPANIESRyan Slack, CEO, GREENPEARL EVENTS David Frank, CEO, THE MERRILL COMPANIES Bob Kline, Principal & CEO, RW KLINE COMPANIES9:15AM Keith Hall, Managing Partner, KBS CAPITAL ADVISORSKick Off: Industry Leaders ForumModerator - Brian Shniderson, Managing Director, B & A CAPITAL Lenders and servicers continue to be inundated with properties entering special servicing with little time to answer phone calls or field requests from investors. Be-Marc Benezra, Partner, BAKER & HOSTETLER LLP cause banks and special servicers are holding such a large percentage of troubledSam Freshman, Chairman & CEO, STANDARD MANAGEMENT properties, getting insight into their processes, procedures, and practices is key toStanley Iezman, Chairman & CEO, AMERICAN REALTY ADVISORS understanding the best way to tap into this market.Michael Rosenfeld, Founder & CEO, WOODRIDGE CAPITAL PARTNERS, LLC 11:45AMThese days finding distress in the real estate sector is not the challenge; the realchallenge is finding the best opportunities in the sector that offer the greatest CRE Workouts:value. How does one source an interesting opportunity, narrow the bid-ask spread, Restructuring, Litigation, and Desperate Measuresand ultimately get the transaction structured and closed? Finding those answers Moderator - Barbara Champoux, Partner, CROWELL & MORINGstarts with asking more questions. For example, what is the size of the investor’s Leslie Lundin, Managing Partner, LBG REALTY ADVISORS, LLCcapital base and what does it consist of. Is it long-term capital or is liquidity Mark Mersel, Partner, BRYAN CAVE LLPrequired? Capital sources: Private money, Bridge lenders, which is the best route David Stapleton, Founder, STAPLETON GROUPto take? What are some of the current deals that we’ve seen and how were theyaccomplished? What role do ‘trophy’ properties play in the distressed arena? With a wave of maturities coming due in 2012 (an estimated $500 billion in CRE loans are set to mature) demand for restructuring will continue to increase. In such10:15AM an environment, the resounding question from the owners’ and lenders’ perspec-Refreshment Break in Exhibit Hall tive is: Should we restructure or do we need to sell? Conversely the answer to that question for buyers is definitely, “sell.” This session will explore both viewpoints. Conference Agenda 5
  6. 6. sponsorship & exhibit opportunities Sponsorships and exhibits are excellent opportunities for your company to showcase its products and services to high-level, targeted decision makers attending The Summit. The Summit helps companies like yours achieve important sales, marketing and branding objectives by setting aside a limited number of event sponsorships and exhibit spaces - all of which are tailored to assist your organization in creating a platform to maximize its exposure at the event. COMMERCIAL REAL ESTATE SUMMIT: BEYOND DISTRESS MIDWEST NEW YORK FLORIDA CALIFORNIA Chicago New York City Miami Los Angeles MAY 2011 SEPTEMBER 2011 JANUARY 2012 FEBRUARY 2012 For more information on sponsoring or exhibiting, please contact Tammy Jean Weiss at 646-862-9397 or events@greenpearlevents.com.6 For a complete list of events, please visit greenpearlevents.com
  7. 7. 12:45PM 4:30PMNetworking Lunch & Round Table Discussions “L.A. Residential”: Opportunities in Multifamily, Condo,Luncheon round tables are facilitated by topic experts who lead interactive and Single-family propertiesdiscussions. This maximizes the value of your networking time by giving you the Moderator - Richard Gollis, Co-Founder & Principal, THE CONCORD GROUPopportunity to meet attendees who share your interests. Lunch will be provided Stephan Kachani, Vice President, LOAN OAK FUND LLCduring this session, so please take this opportunity to sit and meet others in your Alan Mark, Founder & President, THE MARK COMPANYarea of interest. Space is limited and each discussion happens simultaneously, Scott McClave, Acquisitions Principal, THE BASCOM GROUPplease choose between one of the topics provided or sit at one of the general Gregor Watson, Principal, MCKINLEY PARTNERSnetworking tables. California is “rich” with foreclosed homes and “broken” residential developments.1:45PM Acquisitions teams are sweeping through, looking for the best deals. At the sameOffice Properties in California and Western U.S. time, multifamily assets are relatively robust and performing as former homeModerator - John McDermott, National Director, owners revert to renting. Consequently, markets are returning to “normal” as Office & Industrial Properties, SPERRY VAN NESS investors and acquisitions professionals increasingly work directly with borrowers and their representatives, and in California, receivers continueTom Bohlinger , Executive Vice President, CB RICHARD ELLIS to be a productive source of deal flow.Mark Laderman, Managing Director, TISHMAN SPEYERKev Zoryan, Managing Director, MORGAN STANLEY 5:15PMOffice properties appear to be moving much more slowly through workout, Closing Chairperson Remarksreceivership, special servicing. Would-be acquirers are stymied by the long Ryan Slack, CEO, GREENPEARL EVENTSprocess. What can be done to move things along faster? Is suburban office(aka smaller deals) the only type of property that can be transacted today? 5:30PMAre note buying strategies working? Who is successful, who is waiting Cocktail Reception in Exhibit Hallto pounce, and who has given up? 6:30PM2:30PM Summit ConcludesHot(el) Pursuit: Distressed Hospitality Properties Enjoy Los Angeles!Moderator - Philippe Phaneuf, Shareholder, GREENBERG TRAURIGRobert Hazard, Vice President of Acquisitions & Development, HERSHA HOSPITALITY TRUSTWilliam Hoffman, President & CEO, TRIGILDRobert Stiles, EVP & Principal, Head of Western Region, CUSHMAN WAKEFIELD THA NK YOU TO OUR MEDIA ARCHIVE SP ONS ORThe hospitality sector is considered by some to be both volatile and trickypresenting distinct challengers to services, lenders and investors alike.Of late, however, some are beginning to ask if these sectors are starting toimprove and, all things considered, if things are “looking up.” As sales andtravel being to tick up, will the distressed opportunities decrease?3:15PMRefreshment Break in Exhibit Hall Photos, presentations, and audio recordings will be available after the event.3:45PMThe Real Estate Capital Markets:Raising Capital for Distressed Acquisitions Please visitModerator - Mark Levinson, Shareholder, GREENBERG TRAURIG greenpearlevents.com/pasteventsMark Omid Bolour, CEO & Principal, BOLOUR ASSOCIATES after March 3, 2011 and click onSteve Fried, Principal, MESA WEST CAPITAL Distressed Real Estate Summit -Raymond Lowe, Senior Vice President, California “Media Archive.” WELLS FARGO REAL ESTATE BANKING GROUPJoel Mayer, Director, Head of Retail, ROCKWOOD CAPITALMark Strauss, Managing Director and Partner, COHEN FINANCIAL And, to continue conversationsThe real estate capital markets continue to play the role of bottleneck in the game with those you have met todayof acquisitions cat-and-mouse. While debt is readily available for performing multi- and past attendees offamily and Class-A office building assets, it gets pricey and more difficult to obtainfor almost all other real estate asset classes. DISTRESSED REAL ESTATE SUMMITS,This session will answer questions such as: How much longer will current deleverag- be sure to join the GreenPearl Eventsing process continue? What is the current outlook for the California market incomparison to the nation? What is the outlook for the foreseeable future? Distressed Real Estate group on LinkedIn.And, what are today’s best ways to take advantage of the current and future waveof distressed real estate assets? Conference Agenda 7