Troutman Sanders invites you to attend our 2nd annual event for lenders and real estate industry professionals, to be held at the University Club, 1 West 54th Street, New York, New York, on November 9th, 2016 from 12:30 pm until 6:00 pm, to be followed by a cocktail reception. The 2016 conference will focus on recent trends in and issues relating to real estate finance, with our expert multi-disciplinary legal teams and industry leaders delivering trending topics and best practices on the following hot lending topics:
12:30 p.m. – 1:00 p.m.
Lunch
Opening Remarks
Martin W. Taylor, Partner, Troutman Sanders LLP
1:15 p.m.– 2:15 p.m.
Opening Session
Navigating the Credit Maze: Structuring a Transaction in Today's Credit Craze
Moderator: Ashley Story, Partner, Troutman Sanders LLP
Speakers:
Simon Cices, Partner, Troutman Sanders LLP
Kathy Donovan, Managing Director, UBS
Eli Hattem, Managing Director, CIBC World Markets
Our opening panel will focus on how to structure a real estate finance transaction prior to the execution of a term sheet or commitment letter. We will discuss issues to consider when assessing risk and how to anticipate and manage structural issues before they become an issue for your credit committee.
2:15 p.m. – 2:30 p.m.
Coffee Break, Sponsored by First Nationwide Title
2:30 p.m. – 3:30 p.m.
Breakout Session #1a
Negotiating Intercreditor Agreements and the Relationships Among Lenders
Speakers:
Robert L. Bourguignon, Partner, Troutman Sanders LLP
Margaret Ann Brown, Partner, Troutman Sanders LLP
Jonathan Forstot, Partner, Troutman Sanders LLP
Michael A. Karpen, Partner, Troutman Sanders LLP
As mezzanine financings return to credit structures, negotiating the intercreditor agreement has become an increasingly important and contentious part of the deal documentation. This session will cover common disputes between first lien and second lien lenders and discuss recent marketplace trends in the documentation of intercreditor agreements, including second lien mortgages, subordination and priority of payments, cure rights, cross collateralization and cross default issues, as well as how to structure your agreement to minimize bankruptcy and litigation risk.
2:30 p.m. – 3:30 p.m.
Breakout Session #1b
Environmental Issues in Commercial Real Estate Lending: What the Environmental Professionals Have to Say
Moderator:
Andrew J. Perel, Partner, Troutman Sanders LLP
Speakers:
Gene Belli, Executive Vice President, AEI Consultants
Peter Biolchini, Director, CBRE
Thomas Martin, President, Martin Environmental Solutions
Nolan Previte, President, EBI Consulting
Charles Tallinger, Principal, Partner Engineering and Science
This session will present the inherent dilemmas that today’s increased scrutiny over environmental conditions and properties presents to both securitized lending and balance sheet portfolios. The speakers will flag major issues and concerns and discuss how those issues affect a lending transaction and what potential liabilities may lie in wait. Issues to be discussed include:
The new ASTM guidelines;
- What issues are “real” and which are not;
- What lenses should the Environmental Professional be looking through; and
- When is mitigation a factor – Phase II anyone?
3:30 p.m. – 3:45 p.m.
Coffee Break, Sponsored by Martin Environmental Solutions Inc.
3:45 p.m. – 4:45 p.m.
Breakout Session #2a
Bankruptcy Alchemy: Can You Really Bankruptcy-Proof a Borrower?
Moderator:
Hugh M. McDonald, Partner, Troutman Sanders LLP
Speakers:
Louis A. Curcio, Partner, Troutman Sanders LLP
Patrick Fitzmaurice, Partner, Troutman Sanders LLP
Kevin Clancy, Partner, CohnReznick, Advisory Group, Restructuring and Litigation Advisory - National Director
Lenders have tried to create various impediments to a borrower filing for bankruptcy, but courts frequently poke holes in attempts to insulate a borrower. In the wake of the General Growth case and its progeny, this session will examine the merits of efforts to create a bankruptcy remote structure, from independent and blocking directors to golden shares. With the decisions this summer by the Delaware bankruptcy court in Intervention Energy Holdings and the Northern District of Illinois in the Lake Michigan Beach Pottawattamie Resort cases, we will discuss whether there are any other ways for a lender to obtain a blocking position to prevent a bankruptcy filing.
3:45 p.m. – 4:45 p.m.
Breakout Session #2b
Regulatory Issues Facing Real Estate Lenders: Flood Insurance and HVCRE
Moderator:
Ronald A. Kaplan, Northeast Leader of Commercial Real Estate Industry Practice, CohnReznick
Speakers:
Martin W. Taylor, Partner, Troutman Sanders LLP
Keith A. Mrochek, Partner, Troutman Sanders LLP
This session will discuss flood insurance and flood certifications and an in-house perspective on how to manage the new regulations promulgated in 2015, as well as Basel III requirements for High Volatility Commercial Real Estate (HVCRE) loans and the HVCRE exemption criteria, as well as bank regulator guidance on a number of issues regarding borrower contributed capital, maximum LTV ratio and conversion to permanent financing. The program will also discuss how lenders are revising covenants in loan documentation in response to these new regulations and the uncertainties facing borrowers.
4:45 p.m. – 5:00 p.m.
Coffee Break, Sponsored by Beazley Group
5:00 p.m. – 6:00 p.m.
The Crystal Ball: Economic Forecasting for 2017
Moderator:
Michael Leichtling, Partner, Troutman Sanders LLP
Speakers:
Kenneth Cohen, Global Head of Commercial Real Estate, Bank of America
Brad Cohen, Chief Credit Officer, Square Mile Capital
Christopher La Bianca, Managing Director, UBS Real Estate Finance
Gary Romaniello, Former Managing Director, Societe Generale and Annaly Capital
Our closing session, to be held the day after the U.S. Presidential Election, features some of the industry’s thought leaders giving their thoughts on where the U.S. economy will go in 2017, what effect the new President and
Congress will have on real estate lending markets, and predictions on what to expect in the New York and U.S. real estate markets in the coming year.
6:00 p.m. – 7:30 p.m.
Cocktail Reception
Join us for hors d’oeuvres and cocktails to wrap up the afternoon.
Up to 4 hours of New York State, New Jersey, and Connecticut CLE Credits (pending approval.)
Partial credit given for attending portions of the program.
**The University Club Dress Code:
Please be advised of The University Club’s dress code which is in effect at all times. Male members and guests are required to wear jackets, dress shirts and ties. Female members and guests are required to wear clothing meeting
similar standards: tailored clothing that otherwise conforms to this rule including suits, dresses and skirts or tailored trousers with dress shirts, blouses or sweaters. Jeans, shorts, capris, sneakers, flip flops and other such
casual sportswear are not considered appropriate attire.