CREFC Europe Autumn Conference

Programme
CREFC Europe
Autumn Conference
6 & 7 November 2014
etc.venues, 155 Bishopsgate, London, EC2M 3YD
CREFC Europe
Autumn Conference
6 & 7 November 2014
Thursday 6 November
Speakers’ Dinner to be held
on Tuesday 4 November
Sponsored by
Education Sessions
09:00 – 18:00
Registration Open
09:00 – 09:30
Networking Breakfast
09:30 – 11:00
An Introduction to Property Lending
ation
gistrired
e
r
e
Pr s requ
i
This educational session will focus on the property lending basics including: terminology,
standard lending terms, lending best practices, covenants, security arrangements and methods
of valuations. The speakers will also provide insight into the lessons learnt from the recent
financial crisis and will address: * What went wrong? * How these issues were addressed and
* Which issues are still left outstanding?
Moderator: Mark Nichol, Senior Director, Bank of America Merrill Lynch
Presenters:
Hans Vrensen, Global Head of Research, DTZ
Duncan Batty, Associate Director, M&G Investments
Charles Roberts, Director, Wells Fargo
11:00 – 11:25
Networking break
11:30 – 13:00
Development Finance
tion
stra d
regi
e
Pre- s requir
i
Sponsored by
Educational
Sessions
Complimentary to
CREFC Europe
members and
students
This educational session will develop themes from the Spring Conference and look at
documenting a development financing, the key negotiation points in the documents including
analysis of cost overruns and how they are funded, milestones, financial covenants and the
determination of practical completion, as well as the differences in approach adopted for different
asset classes. There will also be a focus on the security package, collateral warranties and the
use of third party rights, assignments versus charges and guarantees, and the impact that the
procurement route may have on the security.
Sponsored by
Moderator: Ruth Harris, Partner, Ashurst
Presenters:
Luke Hamill, Director, Ares Management Ltd
John Cole, Principal, Cain Hoy Enterprises (U.K.) Limited
David Lebus, Associate Director, JLL Corporate Finance
These educational sessions are aimed at junior market participants and students; they are complimentary for CREFC Europe
members and students with a real estate finance focus.
Non-members are invited to attend at a nominal price of £75 + VAT (bulk discounts available).
All those interested must pre-register, walk-in registration will not be available for the above sessions.
Please note that access to the above sessions is separate to the main CREFC Europe Autumn Conference.
If you are joining the Autumn Conference which begins Thursday afternoon at 13:15, the above sessions are available
at no additional cost.
Programme subject to change
CREFC Europe
Autumn Conference
6 & 7 November 2014
Thursday 6 November
CREFC EUROPE AUTUMN CONFERENCE BEGINS
Refreshments throughout the day
Sponsored by
11:30 – 12:00
Extraordinary General Meeting (EGM) – Invite only, Meeting room: London Wall
12:30 – 14:00
Debt Funds Roundtable Luncheon – Invite only, Meeting room: London Wall
13:00 – 14:00
Student Outreach Networking Lunch – Invite only, Meeting room: Bishopsgate 2
13:00 – 14:00
Networking Lunch
In association with
Sponsored by
CONCURRENT SESSIONS
Track A
14:00 – 14:40
Meeting room: Broadgate 2
Real Estate Investment Opportunities via the
Secondary Loan Portfolio Market
• What is the scale of the market?
• How long will it continue?
• What is the likely impact of the recent AQR and stress tests?
Moderator: Richard Thompson, Partner, PricewaterhouseCoopers
Panellists:
Federico Montero, Partner, Cushman & Wakefield LLP
Shirley Smith, Executive Director, EY
Peter Denton, Head of European Debt,
Starwood Capital Europe Advisers, LLP
Sponsored by
14:50 – 15:00
Welcome
15:00 – 16:00
KEYNOTE SPEAKER – ROGER BOOTLE
Track B
14:00 – 14:40
Meeting room: Broadgate 1
Speaking with the Regulator:
Divided by a common language?
• In Europe, who are the key “Regulators?”
• What are they trying to do?
• How do we get them to listen and what do we say?
• Is the “vision” project a way forward?
Presentation by
Peter Cosmetatos, Chief Executive Officer, CREFC Europe
Jeff Rupp, Director – Public Affairs, INREV
One of the City of London’s best-known economists, Roger Bootle runs the consultancy, Capital
Economics, one of the world’s largest independent economics consultancies, which he founded
in 1999. Roger is also a Specialist Adviser to the House of Commons Treasury Committee
and an Honorary Fellow of the Institute of Actuaries. He was formerly Group Chief Economist
of HSBC and, under the previous Conservative government, he was appointed one of the
Chancellor’s panel of Independent Economic Advisers, the so-called “Wise Men”. In July 2012, it
was announced that Roger and a team from Capital Economics had won the Wolfson Prize, the
second biggest prize in Economics after the Nobel.
For more information in relation to Roger Bootle, please visit www.SpeakersAssociates.com
16:00 – 16:30
Afternoon Tea
Sponsored by
CREFC Europe
Autumn Conference
6 & 7 November 2014
Thursday 6 November
16:30 – 17:15
Spain: Real Estate focus on steroids
Sponsored by
• What’s the attraction? Why has the world descended?
• Distressed debt: Who is selling and why? What is being sold and the pitfalls of acquisition
• Why is owning a servicing business attractive?
• Mirage or Panacea?
Moderator: Michael Madigan, Director, CBRE Real Estate, S.A.
Panellists:
Trish Barrigan, Senior Partner, Benson Elliot Capital Management LLP
Blair Lewis, Chief Executive Officer, Hatfield Philips International
Emilio Miravet, Partner, KPMG Spain
Fabio Longo, Executive Vice President, Sankaty Advisors
17:15 – 19:15
Networking Reception
Programme subject to change
Sponsored by
CREFC Europe
Autumn Conference
6 & 7 November 2014
Friday 7 November
Refreshments throughout the day
Sponsored by
08:45 – 14:30
Registration Open
08:30 – 09:30
Intercreditor Working Group Meeting – Space is limited. Register your interest
at CREFC Europe registration. Meeting room: London Wall
08:45 – 09:40
Networking Breakfast
Sponsored by
09:40 – 10:55
CRE Lending, European Debt Liquidity and Finding Relative Value
Sponsored by
• What are borrowers seeing and what ticks their boxes?
• Borrower preference: What types of loan excite the borrowers? The pros and cons disclosed
• Pan European debt liquidity and availability
• Breadth and depth of the debt market
• Primary versus secondary lenders
• The implications of current debt markets for the equity markets/borrowers
Moderator: Riaz Azadi, Managing Director, Eastdil Secured
Panellists:
Roman Kogan, Director, Deutsche Bank AG London
Andreas Wuermeling, Managing Director, Deutsche Pfandbriefbank
Andrea Bora, Executive Director, Goldman Sachs International
Richard Croft, Chief Executive, M7 Real Estate LLP
11:00 – 11:25
Networking Break
Sponsored by
11:25 – 12:10
Is Mezzanine Lending here to stay?
Sponsored by
• Is mezzanine debt a reinvented private equity opportunity?
• Are current mezzanine lenders here to stay or will a new breed take their place?
• Are mezzanine lenders deploying their capital? If so, where?
• Is mezzanine now preferred equity in disguise?
• Assessing mezzanine through whole loan origination
Moderator: Andrew Petersen, Partner, K&L Gates LLP
Panellists:
Rawle Howard, Director, Blackrock
Cyrus Korat, Partner, DRC Capital LLP
Axel Brinkmann, Director, LaSalle Investment Management
Programme subject to change
CREFC Europe
Autumn Conference
6 & 7 November 2014
Friday 7 November
12:15 – 13:00
The Private Rented Sector (PRS) – A whole new way to invest, lend and profit?
• Scale: How important is size and how long does it take to achieve?
• Buy or build: What strategy offers the best opportunities?
• Debt funding: Can acquisition, development and investment funding be combined?
• What does long term financing look like?
Moderator: Gregor Bamert, Managing Director – Real Estate, Barclays
Panellists:
Andrew Appleyard, Senior Director, Aviva Investors
Laure Duhot, Managing Director, Grainger plc
Bob Crompton, Chief Executive Officer, Knightsbridge Student Housing Ltd
13:00 – 13:45
Networking Lunch
13:45 – 14:30
CMBS: Stuck at the bar while the market’s dancing?
• Do volumes suggest a niche interest or a mainstream funding tool?
• Have issuers learnt past lessons? Are all parties now aligned?
Are the interests of investors and borrowers balanced?
• Who’s buying paper and which jurisdictions are hot?
• Where does the market go from here?
Moderator: James Tarry, Fund Manager, Aviva Investors
Panellists:
Matthias Baltes, Head of Commercial Real Estate Finance Europe, Bank of America Merrill Lynch
Tom Jackivicz, Managing Director, Citigroup
Matthew Richardson, Director of Research, Fidelity International
Julia Kelting-Schaller, Portfolio Manager, PIMCO Ltd
Athy Yogarajah, Director, Wells Fargo
14:35 – 14:55
Identifying the “Real” from the “Hype” and Wrapping Up the Conference, led by Peter Denton,
Head of European Debt, Starwood Capital Europe Advisers, LLP
15:00
Close
Programme subject to change
Sponsored by
CREFC Europe
Autumn Conference
6 & 7 November 2014
Sponsors
PLATINUM
GOLD
SILVER
BRONZE
MEDIA SPONSORS