Breakout Session: Construction Lending: What is Today's Steady Stack?
A deep dive into construction lending, the capital stack, and rising interest rates. Many projects, both new construction and rehab, are facing unique difficulties due to rising costs, high interest rates, and regulatory issues. Join CRE construction experts as they discuss creative grants, financing, federal and local funding options and other creative solutions in today's market.
Lonnie Hendry, CRE, SVP, Head of CRE & Advisory at Trepp, Inc, specializes in valuation, appraisals, analytics, modeling, and financial analysis. With a background spanning 20 years in the commercial real estate industry, he is charged with enhancing Trepp’s client relationships across all business lines and product verticals. Lonnie and his team assist Trepp clients with accomplishing their strategic goals through a variety of Trepp products, customized advisory services and client solutions. Lonnie earned a MS degree in Real Estate from the University of Texas at Arlington where he also received a Graduate Certificate in Real Estate Development. He is a member of the Counselors of Real Estate, an adjunct professor, and serves on Fordham’s Real Estate Institute Executive Advisory Council.
Patrick Crandall is an Executive Vice President in the National Lending division of Pacific Western Bank, a $41 billion financial institution headquartered in Beverly Hills. He is responsible for the origination of commercial real estate financing nationwide, with specific oversight responsibility for the Eastern US. He has over 35 years of experience in real estate, with expertise in bridge, construction and permanent financing, credit risk management, acquisitions, brokerage, appraisal and asset/portfolio management. Prior to joining Pacific Western Bank, Crandall has held executive positions with Sabal Financial Group, Cushman and Wakefield, CIBC, iStar, Fremont Investment and Loan and JE Robert Companies. He has been involved in more than $14 Billion in transactions in the US and abroad, including small and large balance bridge and construction financing, loan portfolio acquisitions, and opportunistic commercial real estate acquisitions. Mr. Crandall is a full member of the Urban Land Institute (member of Urban Development and Mixed-Use Council for six years, currently on Placemaking Council and ULI LA Capital Markets Council), the Mortgage Bankers Association (member of Bank Senior Executive Roundtable), CREFC (Commercial Real Estate Finance Council), NMHC (National Multi Housing Council), ICSC (formerly International Council of Shopping Centers), and has volunteered or served on boards of a number of non-profit organizations in LA County. He is a Southern California native and received a Bachelor of Arts from California State University, Fullerton.
Tommy Nance is a Vice President with PGIM Real Estate. In this role, he works with the Chief Operating Officer and Head of Production of PGIM Real Estate’s Agency Lending businesses to execute the business strategy of the FHA platform and oversee operations. Tommy joined PGIM Real Estate in 2010 and has over 20 years’ experience in the commercial real estate industry across the development, construction and lending sectors.
Chris has been in the C-PACE industry for 10 years. Prior to C-PACE, Chris held executive positions in a number of finance and real estate-related companies. This includes six years as a principal of Appian Capital, a private commercial real estate investment company, where he led the firm’s capital strategy, business development and origination efforts. Chris’ passion for the healthcare industry extends to philanthropic activities, and he currently serves on the executive committee of the Northern California Real Estate and Development Council for City of Hope. He also serves on the Redevelopment and Reuse Council of ULI Americas and on the board of PACENation. Chris earned his B.A. from Trinity College in Hartford, Conn.
Kimberly Taynton is a MAP-approved Underwriter with more than 20 years of HUD Multifamily experience. She has primarily focused on HUD-insured financing throughout her career including a prior position at the U.S. Department of HUD where she was the Supervisory Project Manager for Multifamily Development in Arizona. She began her multifamily development career in 1999 working for an apartment developer, specializing in land entitlement through construction and operations, using HUD-insured 221(d)(4) financing for all of the apartment projects. Kim is regularly asked to present on multifamily topics at conferences and has been a panelist or presenter on topics such as affordable housing finance, environmental due diligence, HUD loan programs, regulatory requirements and loan closing.