Time to Step into the Trillion Pound Funding Gap?
Meeting Overview
What does 2024 have in store for real estate capital allocations, credit and debt finance markets? Can we expect the current retrenchment to continue or will the billions of dry powder be finally unleashed?
Spend time with European Lenders, CEOs, Heads of Debt, Secondaries & Special Situations involved in Real Estate transactions and gain personal anecdotes that might help you identify your next debt opportunity.
No press, no formal agendas, no stages, just qualified decision makers with risk in real estate transactions, sitting down together for closed door discussions.
Global Co-Head of Real Estate Research and Strategy
DWS Group
Credit & Debt
No brainer play against inflation or long term change in capital interest?
- Why does the debt market look so different today?
- Institutional Capital In, Senior Debt Out? Navigating the appetite
- Are the returns easy to figure out? What’s the competitor landscape?
- Mismatch between supply and demand - will it scupper transactions?
- Are we worried about interest rates?
Manja Stueck
Debt
The New Asset Class?
- Debt in Real Estate - Is what’s good, also what makes sense?
- Capital Investment Matrix & Opportunity - Do we need to throw the investment playbook out?
- Secondary Deals - Hot stuff or butting heads with fellow buyers?
- Interest Rates vs Transaction Volumes - Anticipating 2024
- How difficult is it to underwrite real estate value, and what are the implications?
George Molesworth
Refinancing
Best to keep originations active or taking over someone else's problem?
- Will expensive debt cause a deleveraging cycle and will this in turn see owners with limited access to capital create liquidity by selling assets?
- Debt Refinancing - Will alternative lenders step up as senior debt declines in 2023?
- Asset classes - Which are in the hot seat and what drives successful market refinancing?
- How to fine-tune your hedging strategy to thrive in the current climate?
- Offices - Problem or opportunity?
Katie O'Neill
The Green, Green Grass of Loans
Benefits and criteria of ESG Lending
- Creating Value & Aligning Investors’ Expectations - How can credit influence deal decisions?What does “green” really mean? Lender, borrower and debt fund perspectives aligned with tenants?
- Key aspects for sustainability - Certificates, energy consumption, EPC, CRREM, taxonomy and ESG ratings
- What are the drivers and benefits of a green loan for its parties?
- Which forms of green loans are available? From straight green or sustainability linked - investment loans, development loans and transition loans
- Loan documentation challenges, ESG Due Diligence and information requirements
Guy Grainger
Senior Debt & Back Leverage
Will the mezz get paid?
- Is Mezz the winner or loser in the current debt climate?
- Credit Underwriting & Inflation Hedging - What are the impacts of high-interest rates on the borrower and the lender?
- How are liquidity and values impacting lending decisions and allocated into what assets?
- Is back leverage all about MTM and recourse, or is the market starting to open up for non recourse or MTM back leverage?
- Beyond Resi -Is back leverage available for spec development outside of living sectors?
- Banks v Debt Funds – Who are they key players today in this space?
- Loan On loan v A/B – Pros and cons of each? Are more and more lenders today focusing on unlevered lending only?
Ashil Sodha
Distress Buying Opportunities
Just around the corner, will debt enter value-add in a big way?
- Will there be distress? What will it look like? It's not the same as the GFC?
- Recaps - Repricing limbo or opportunities up the risk curve?
- Welcome to the New (‘Back to) Normal of Interest rates?
- Rebalancing the attractiveness of credit and equity strategies
- How to Drive ROI Growth? Adding value rather than buy and hold is the best way forward?
Gregoire Millet
Alternatives & Special Situations
Where to get the best RE exposure?
- Origination, Sourcing, Structuring and Diligence Phases - Where are the good sponsors?
- Unprecedented Times - More caution and more funding gaps?
- Hedging - Are interest rate hedging costs providing too much complexity and hampering dealflow?
- Alternatives vs. Traditional Lenders - How to move forward engaging in work-outs and special situations in the current lull?
- Equity vs. Debt - Should equity funds step up their game to compete with debt funds?
Richard Whitfield
Funds of the Next Cycle
Which capital structures, which asset classes will hold their values?
- Europe vs. USA & APAC - Where’s the smart capital?
- What capital structures make sense?
- Which asset classes will nurture value and which regions to maximise?
- Are more flexible long term approaches to debt and equity essential?
Mauro Savoia
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