CREF Market Intelligence Symposium

NYU Global Center - NYU School of Professional Studies, Schack Institute of Real Estate, New York, NY

Register Now Draft Agenda

Early Cutoff:

  Before Regular After
Member Price $750.00 $750.00 $750.00
Non-Member Price $1,300.00 $1,300.00 $1,300.00

Description

MBA's new CREF Market Intelligence Symposium cuts through the talking-head clutter to provide hard facts about the state of commercial real estate markets - and what we do and don't know. The nation's leading CRE analysts present data-driven insights about where markets are, and where they are likely to go from here. Experts will go beyond opinions to present the latest data and leading models to help attendees understand where we are in the real estate cycle, how to think about property prices in a low rate environment, what the drivers are of demand for and supply of debt, how to identify whether underwriting is tight or loose, what drives loan performance, how investors gauge success in their commercial real estate debt portfolios and more. MBA's CREF Market Intelligence Symposium, offered in association with the NYU School of Professional Studies Schack Institute of Real Estate, is designed to be the event you will be talking about all year.

DRAFT AGENDA

Wednesday July 10, 2019

1:00 - 1:15 - Welcome

1:15 ‐ 1:45 - Setting the Stage: The Economy, Rates & CRE
Slowing growth, tight labor markets, international uncertainty, growing government debt and deficits, a long‐in‐the‐tooth CRE cycle. This conversation will set the stage for later discussions by laying out where we are, and the major influences on where we are going.
Seth Carpenter, Chief US Economist, UBS

1:45 ‐ 3:00 - Property Insights
Each property type is being driven by a different set of fundamental shifts in the economy. This session will dig into how demographics, the changing nature of how we work, ecommerce and other trends are shaping what properties will and will not prosper in the years ahead.
Lynn Fisher, Co-director of the Center on Housing Markets and Finance , AEI -- demographics and coming housing demand
William Pattison, Research & Analytics - Real Estate, MetLife - Industrial dynamics
Richard Hill, Managing Director - Research, Morgan Stanley - Retail 

More speakers to be announced

Group discussion

BREAK

3:15 - 4:00 - Risk, Return and Regulation
Regulation responds to - and alters - the choices lenders make in their lending. Recent studies by the Federal Reserve, FHFA and others have quantified risks associated with different types of lending, and are having impacts on capital and other regulatory governors of commercial real estate finance.  Speakers will provide information on their findings and discuss the implications.
Robert Kurtzman, Senior Economist, Banking and Financial Analysis, Division of Monetary Affairs, Board of Governors of the Federal Reserve System ‐‐ Impacts of Differences in Lending
Policies Across Capital Sources
Luis Mejia, Supervisory Financial Analyst, FHFA ‐‐ What GSE Capital Rules Say About Multifamily Mortgage Risk

Group discussion

4:00 - 4:45 - How are Investor‐Driven Lenders Changing the Game?
Mortgage REITs, debt funds and other investor‐driven lenders are a driving force in today's market. What makes them tick, and - aside from as competition - how are they changing the market? Hear from experts in and around the space.
Erin Stafford, Managing Director, Head of North American CMBS, DBRS ‐‐ CLOs and What they Tell Us

More speakers to be announced

Group discussion

4:45 - 5:30: Black Swans
Ending the first day on a dark note, speakers will discuss how they think about black swan events and what some potential risks might be.
Smriti Popenoe, EVP & Co‐Chief Investment Officers, Dynex Capital
Sam Chandan, Associate Dean, NYUSPS Schack Institute of Real Estate

Group discussion

5:30 - 6:30 - RECEPTION

Thursday July 11, 2019
8:30 ‐ 9:00 ‐ Big Data and AI in Asset/Risk Management
There's lots of talk about big data and AI, but is it having an impact on CRE finance yet? This discussion will highlight ways AI and big data are starting to be put to use, and implications for CRE asset and risk management.
Andrea Jang, JLL Spark

Group discussion

9:00 ‐ 10:00: CECL and Other CRE Loan Modeling
CECL is bringing portfolio modeling to the bottom line. As firms work through the details, many small decisions may cascade to have big impacts on how firms recognize income from their lending activities.  This discussion will present key information on CECL implementation, how companies are working through issues, and the degree to which companies are using the learnings to improve their businesses.
Speakers to be announced

Group discussion

10:00 ‐ 10:30: Opportunity Zones and Other Incentive Programs
A series of government programs tilt the scales on commercial real estate investment, and thus tilt the markets. With opportunity zones drawing investment capital to new markets, this session will explore what we know about the impact these programs have on markets and pricing.
Robert K. Jenkins Jr., Renaissance Equity Partners 

Discussion

BREAK

10:45 ‐ 11:30: LIBOR - Nuisance or risk?
LIBOR is (probably) going away. SOFR is (probably) taking its place. How those things happen could be a nuisance, or a risk to participants throughout the industry. This session will work through the known‐ knowns, the known‐unknowns, and... you get it.
Richard Jones, Partner, Dechert 

Group Discussion

11:30 ‐ 12:00: ROUNDTABLE DISCUSSION: Risk & Reward - Where are we today?
Taking advantage of the collective wisdom of the group, this discussion will explore where attendees see today's CRE finance markets, and where some of the greatest opportunities and challenges lie for commercial real estate finance companies.
Everyone

Notes

MBA does not have a hotel room block for this event. Hotel reservations must be made by registrant.
SUBSTITUTIONS
Send requests in writing to the attention of "Registration Substitutions" at mcrable@mba.org. A $50 processing fee will apply. In order to guarantee that subsituted attendee will appear on the final registration list, your substitution request must be received on or before July 4, 2019.

CANCELLATIONS AND REFUNDS
Send requests in writing to "MBA Cancellations" at meetings@mba.org. See below for the refund schedule. Received on or before June 18, 2019: Full refund minus $50 processing fee. Received June 19- June 28, 2019: Refund of 50 percent of the registration fee. June 29, 2019: No refunds on or after this date.