IMN’s Borrower & Investor Forum on Real Estate Mezzanine Financing & Subordinated Debt
New York, NY
Stroock will be sponsoring and Stroock partner William Campbell will be speaking at IMN’s Borrower & Investor Forum on Real Estate Mezzanine Financing & Subordinated Debt. The event will take place November 10, 2015 in New York, NY.
William Campbell will participate in the panel discussion "Documentation & Deal Structuring Today to Offer Greater Protection in Workouts Tomorrow." The panel will examine: Deal structuring and documentation: Recent noteworthy trends * Inter-creditor agreements: What are the key points in structuring them today? How to better protect your interests in the case of a default? What are the common mistakes to avoid? * Under what circumstances are control rights more or less important? Cure rights? * Multi-tranche/multi-lender deals – How to structure? * Are the dynamics of negotiations changing? Are there situations in which mezz/sub-debt lenders have the advantage?
Another panel discussion is titled "Preferred Equity/Mezzanine/Bridge Finance for Land Acquisition, Pre-Development & Construction Deals: Borrower & Lender Perspectives." The panel will examine:
* Raw land acquisition vs. pre-development costs vs. new construction: What financing is available and from what types of capital provider? What types of development/construction are being favored? In what locations? * Are underwriting standards getting too loose in certain markets? With so much capital hungry for deals, is it closer to being a borrowers market? * What are typical deal terms/conditions today? Timeframes to close? * How about secondary and tertiary market financing? What types of development/geographies are still not getting financed? * From the borrower perspective how does preferred equity compare to mezzanine/bridge financing in a land/pre-development/ construction deal? Are there particular deals or situations where preferred equity makes more sense than mezzanine/bridge financing for lenders or borrowers? * What do borrowers need to do to attract financing for raw land? For pre-development? For construction? * Pre-Leasing: What do lenders expect? * Risks associated with liens * Deals going bad mid-construction: What are the workout considerations for land and construction deals for borrowers and lenders? What are the inter-creditor issues for construction loans? What is the latest in protection in the case of a default? *
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