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Real Estate Capital Finance Forum: Europe 2016

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Real Estate Capital Finance Forum: Europe 2016

27th September, 2016 - 28th September, 2016



The Real Estate Capital Finance Forum: Europe focuses on the current lending landscape, the impact of macroeconomic events on Europe’s real estate markets and opportunities in non-performing loans.

To keep up to date with all the event developments, white papers and special offers, register your interest today.

Explore who is lending and what types of assets are being financed. We will consider debt pricing, as well as what lenders want to see in loan structures to protect them against the future pitfalls.

Find out what approach European real estate borrowers are taking to leverage, pricing and relationship lending. How they choose which lenders to work with and how much debt to take on.

Learn how investors can get access to the real estate debt and what structures they prefer. We will explore regulatory considerations across jurisdictions and will compare large funds to small ticket lending platforms.

Download the brochure Download our special report
Roland Fuchs
Christian Schmid
Register your interest
Paolo Bortolotti
Anil Khera
Duncan MacPherson
Michael Shields
More speakers

Further information

For further information about the event and sponsorship opportunities, please contact:
Jane Popova | T: +44 207 566 5475 | E: jane.p@peimedia.com

Contact customer services:

London: +44 (0)20 7566 5445 | Hong Kong: +852 2153 3844 | New York: +1 212 633 1073
Email: customerservices@peimedia.com

2016 Sponsors






Associate sponsors:













8.20 Registration & coffee
9.00 REC Welcome

9.10 Opening comments from the Chair
James Wright, Head of Real Estate Finance, Capita

9.20 Keynote address
European economy and its impact on CRE
Neil Blake, Head of EMEA Research, CBRE

9.50 Opening panel session
European finance market: where are we in the real estate cycle?
• Changes in regulation, weighing up risks, possible interest rate hikes: future forecasts for 2017
• Structuring loans against future uncertainties
• Impact of political uncertainty on the finance market
• Global capital flows overview
• The state of the alternative finance market

Michael E. Shields, Managing Director – Head of REF Western Europe, UK, USA, ING Real Estate Finance

Michael Acratopulo, Deputy Head of Commercial Real Estate UK, Wells Fargo
Duncan MacPherson,
Head of Debt Capital Markets, Starwood Capital
Neil Odom-Haslett,
Head of Commercial Real Estate Lending, Standard Life Investments
Christoph Wagner,
Director of Debt Strategies, TH Real Estate

10.35 Coffee & networking

11.05 Panel session
Investors’ portfolio: depth of demand for real estate debt
• How can investors access real estate debt market?
• Is real estate debt a stronger contender to infrastructure, unitranche, corporate/ government bonds?
• How does origin of investors affect preferences in structures, types of debt and its packaging?
• Return expectations, risk profiles and regulatory considerations across jurisdictions

Paul House, Managing Partner, Venn Partners

Arnaud Heck, Head of Real Estate Finance, Natixis Asset Management
Michael Morgenroth, CEO, CAERUS Debt Investments AG
Anthony Shayle,
 ‎MD, Head of Global Real Estate – UK Debt, ‎UBS Global Asset Management

11.50 Panel session
Borrowers’ perspective on sourcing debt in today’s crowded market
• How easy has it been to secure new acquisition financing/refinancing over the past year?
• What do borrowers want from lenders in terms of relationships and structures? Any differences from before? Nuances of working with bank vs non-bank lenders
• Managing leverage, deciding how much debt to take and diversifying funding sources
• Using intermediaries to source debt: how is the new trend impacting the market?
• Considering alternative sources of finance: corporate bonds, corporate finance

Moderator: Edward Daubeney, Director, Cushman & Wakefield

Farrah Brown, Head of Treasury, TH Real Estate
Gadi Jay, Associate, Blackstone
Rob Mills, Partner, Clearbell Capital
Andy Rogers, Group Treasurer, Frogmore
Nick Sanderson, Finance Director, Great Portland Estates

12.50 Lunch

14.00 Presentation
An overview of the commercial real estate investments across Europe
Tom Leahy, Director of Market Analysis – EMEA, RCA

14.30 Panel session
German real estate and the bank lending market

• Availability and cost of debt across Germany
• Overcoming regulatory and other key challenges
• Alternative lenders and non-German banks: what deals do they get involved in?
• The German real estate syndication market  

Norbert Kellner, Head of Debt Capital Markets & Sales Management, Helaba

Dr. Jan Peter Annecke, Head of Origination, Commercial real estate finance, Münchener Hypothekenbank
Dr. Rochus Ebert, Head of Structured Real Estate Finance Germany, SEB
Assem El Alami, 
Head of Real Estate Finance, Berlin Hyp AG

15.15 Keynote Interview:
Cooperation between an institutional investor and lender on a pan-European portfolio transaction
In this keynote interview, Real Estate Capital’s Deputy Editor Daniel Cunningham will sit down with Roland Fuchs and Christian Schmid to offer an insight into their collaboration on the cross border financing.

Daniel Cunningham, Deputy Editor, Real Estate Capital

Roland Fuchs, Head of European Real Estate Finance, Allianz Real Estate
Christian Schmid, Managing Director, Business and Syndication Management, Aareal Bank

15.45 Coffee & Networking

16.10 Presentation
A review of interest rate hedging in real estate

Ivan Harkins, Director, J C Rathbone Associates

16.35 Panel session
Lenders’ perspective on today’s finance market
• Overview of the lending activities across Europe
• Who is lending and on what terms? Current availability of debt and financing for non-core and core assets
• State of the refinancing environment
• Lending against operating assets: underwriting and structural considerations

Simon Marshall, Head of Real Estate Lending, London Branch, LBBW

John Feeney,
Managing Director and Global Head of Commercial Real Estate, Lloyds Bank
Barry Fowler,
Managing Director, Alternative Income Solutions, Aviva Investors Real Estate Finance
Thomas Staats, Head of Origination, International Property Finance, Managing Director, Deutsche Hypothekenbank
Paul Wilson,
Managing Director, Real Estate Investments, Metlife Investments

17.20 Cocktail reception



8.40 Coffee & networking
9.10 Welcome from the Chair
James Wright, Head of Real Estate Finance, Capita

9.20 Panel session
Development finance: still on offer?
• Who is lending on development projects and on what terms?
• Current risk appetite in the UK/ Western Europe and effect on pricing
• Is there new supply coming in and who is doing the deals?
• What do developers need to be able to convince lenders to back them?

Andrew Brentnall
, Residential Capital Markets, Savills

Rod Lockhart,
Managing Director, LendInvest Capital
Benjamin Philips,
Head of Property Lending, Alpha Property Lending
Randeesh Sandhu,
Chief Executive Officer, Urban Exposure

10.05 Focused session
Mezzanine debt: the state of the market
– Who’s providing it and what’s being funded?
– Types of yields/ deals that are being chased
– Risks and reward: getting the balance right
– Whole loans: selling the senior

Peter Cosmetatos, 
Chief Executive Officer, CREFC Europe

Paolo Bortolotti,
Vice President, Private Real Estate Debt, Partners Group
Dale Lattanzio,
Managing Partner, DRC Capital
Daniel Pottorff,
National Director, LaSalle Investment Management

10.35 Coffee & networking

11.00 Panel session
European outlook for non-core and non-performing loan portfolios
• Where does the NPL portfolio market in Europe stand?
• Key issues for buyers and sellers in the non-core space
• NPL transactions: what funding options are available?
• Europe’s bad banks: anticipated supply of NPLs in 2017
• Different ways to wind down a portfolio

Jeffrey Rubinoff, Partner, White & Case

Clarence Dixon, Chief Operating Officer, CBRE
Fabrizio Grena, Managing Director, Goldman Sachs
Giles Horridge,
Managing Director – Head of Legal, Sabal Financial
Federico Montero, 
Managing Director – Head of Real Estate Portfolio Solutions, Evercore

11.45     Panel session
CRE loan syndications: an update
• EMEA loan syndication fall: causes and future projections
• Activity in different markets: Germany, France, UK
• What makes for a good borrower/lender relationship?
• Brexit and syndicated loans

Jean-Maurice Elkouby, Managing Director, ING Bank

Margot Waddup, Head of Syndicated Finance, Wells Fargo
Gregory Clerc,
Managing Director, BAML

12.15 Lunch and Close of conference


2016 speakers include:

Andrew Rogers

Group Treasurer

Andrew Brentnall

Residential Capital Markets

Anthony Shayle

MD, Head of Global Real Estate – UK Debt
UBS Asset Management

Arnaud Heck

Head of Real Estate Finance
Natixis Asset Management

Assem El Alami

Head of Real Estate Finance
Berlin Hyp AG

Barry Fowler

Managing Director, Alternative Income Solutions
Aviva Investors

Benjamin Philips

Head of Property Lending
Alpha Property Lending

Christian Schmid

Managing Director, Business and Syndication Management
Aareal Bank 

Christoph Wagner

Director of Debt Strategies
TH Real Estate

Clarence Dixon

Chief Operating Officer, Head of Global Loan Servicing
CBRE Capital Advisors

Dale Lattanzio

Managing Partner
DRC Capital

Daniel Cunningham

Deputy Editor of Real Estate Capital
PEI Media

Daniel Pottorff

National Director

Dr. Jan Peter Annecke

Head of Origination, Commercial real estate finance
Münchener Hypothekenbank

Dr. Rochus Ebert

Head of Structured Real Estate Finance Germany

Duncan MacPherson

Head of Debt Capital Markets
Starwood Capital

Edward Daubeney

Director, EMEA Structured Finance
Cushman & Wakefield

Fabrizio Grena

Managing Director
Goldman Sachs

Farrah Brown

Head of Treasury
TH Real Estate

Federico Montero

Managing Director – Head of Real Estate Portfolio Solutions

Gadi Jay

Principal, Real Estate

Giles Horridge

Managing Director – Head of Legal
Sabal Financial Europe

Gregory Clerc

Managing Director- Head of Commercial Real Estate Debt Distribution EMEA
Bank of America Merrill Lynch

Ivan Harkins

J C Rathbone Associates

James Wright

Head of Real Estate Finance
Capita Asset Services

Jean-Maurice Elkouby

Managing Director
ING Bank

Jeffrey Rubinoff

White & Case LLP

John Feeney

Managing Director and Global Head of Commercial Real Estate
Lloyds Bank

Margot Waddup

Managing Director, Real Estate Syndicated Finance
Wells Fargo

Michael Acratopulo

Deputy Head of Commercial Real Estate UK 
Wells Fargo

Michael Morgenroth

Chief Executive Officer
CAERUS Debt Investments

Michael Shields

Managing Director - Head of REF Western Europe, UK, USA

Nedal Ramahi

J C Rathbone Associates

Neil Blake

Head of EMEA Research

Neil Odom-Haslett

Head of Commercial Real Estate Debt
Standard Life Investments

Nick Sanderson

Finance Director
Great Portland Estates

Norbert Kellner

Head of Debt Capital Markets & Sales Management

Paolo Bortolotti

Vice President, Private Real Estate Debt
Partners Group

Paul House

Managing Partner
Venn Partners

Paul Wilson

Managing Director, Real Estate Investments
MetLife Investments

Peter Cosmetatos

Chief Executive Officer
Commercial Real Estate Finance Council Europe (CREFC Europe)

Philip Moore

Executive Director

Randeesh Sandhu

Chief Executive Officer
Urban Exposure

Rob Mills

Clearbell Capital 

Rod Lockhart

Managing Director
LendInvest Capital

Roland Fuchs

Head of European Real Estate Finance
Allianz Real Estate

Simon Marshall

Head of Real Estate Lending
London Branch, LBBW

Thomas Staats

Head of Origination, International Property Finance, Managing Director
Deutsche Hypothekenbank

Tom Leahy

Director of Market Analysis, EMEA
Real Capital Analytics


2016 Sponsors





Concise works with many of the world’s leading Private Equity firms on their Annual Meetings, Advisory Board Meetings and Client Conferences. Concise specializes in interactive technology for use at financial conferences and meetings.

Their award-winning Event App integrates more than a dozen features that allow event organizers to manage the audience’s experience in real time. Content can be updated throughout the event, questions and feedback can be submitted in real time and sessions can be brought to life with polls and other interactive features. The entire event experience can be personalized for each attendee. Additionally, Concise’s tablet-based technology enables clients to stage completely secure paperless meetings.

With offices in New York, San Francisco, London, Hong Kong and Singapore, and a multi-lingual team of event experts, Concise offers a truly global service.

To learn more about how Concise can help you get the most out of your conferences and meetings, visit www.concisegroup.com.

Helaba Landesbank Hessen-Thüringen

With a workforce of 6,150 and a balance sheet total of around € 172 billion (2015), Helaba is one of Germany’s leading banks, closely connected to the German savings banks organization. In the field of public sector related business the bank facilitates local economic and infrastructure projects in Germany. As a commercial bank Helaba takes on the competition in Germany and abroad. Headquartered in Frankfurt am Main and Erfurt, the bank also maintains branches in Paris, London and New York.

Helaba’s approach to markets and customers is that of a classic balance sheet lender. The bank’s long-term oriented business model remained unchanged throughout the financial crisis providing reliability for customers and partners.

Real estate lending has always been a core business for Helaba, currently exceeding a business volume of € 35,5 billion (2015). The bank focuses on customers and commercial properties in Germany, selected markets in Europe and in the U.S.

ING Real Estate Finance

ING Real Estate Finance is a global commercial real estate financier. We offer clients flexible, tailor-made real estate financing solutions for their global and local real estate financing needs.

ING REF is in the top five of largest European real estate financiers and has offices in all important commercial real estate markets around the world. We service more than 4,000 real estate investor clients which include institutional investors, private investors and public and private real estate funds. Our primary products and services consist of investment and syndicated loans and mezzanine finance.

We are proud to be chosen number one European lender by the readers of Real Estate Capital Magazine.

For more information please visit us at www.INGREF.com 







Headquartered in Stuttgart, Karlsruhe, Mannheim and Mainz Landesbank Baden-Württemberg has total assets of around EUR 234 billion (as at 31 December 2015) and is guided by the needs of its domestic customers. It’s business model is based on five pillars: corporate customers, private customers, savings banks, real estate financing and financial markets.

LBBW provides commercial real estate financing for both international and domestic investors. We have long-standing experience and an extensive know-how in commercial real estate financing offering tailor-made and innovative financing concepts in major economic centres in Germany, the UK and the US. Our employees are highly qualified specialists with excellent market contacts who stand out in the national and international commercial real estate arena. Based on our experience, we can provide the appropriate financing solutions to meet individual objectives. We offer a comprehensive range of financing products and services to our real estate customers on a property, portfolio or company basis. Thanks to our financial strength we are also a valued partner for portfolio transactions involving larger commercial real estate portfolios. www.lbbw.de/en/






Freedom to innovate

Solutus means ‘unbound’ or ‘free’. Unbound from traditional market thinking we’re free to think differently and to deliver innovative solutions to our clients in the UK and European loan servicing market.

Over the last five years we have grown considerably. Today, we offer a full spectrum of loan servicing solutions and manage projects in excess of €2.5bn for over 30 clients. 

Our independence enables us to adapt quickly to the unique challenges of each transaction, implementing tailored, value driven strategies that deliver our clients’ objectives.

For more information, contact us on 020 3735 1200 or visit www.solutus.co.uk




White & Case LLP

White & Case is a leading global law firm with longstanding offices in the markets that matter today. Our on-the-ground experience, our cross-border integration and our depth of US and English qualified lawyers help our clients work with confidence in any one market or across many.

Our 2,000 lawyers in 39 offices and 25 countries around the world are accustomed to translating creative solutions from one region or market to the realities of other regions or markets.

White & Case is truly a global law firm with global capabilities – almost 95% of our lawyers are based in G20 countries. We work with some of the world’s most respected and well-established banks and businesses, as well as start-up visionaries, governments and state-owned entities. This means we understand, like no other law firm, the challenges facing global organizations doing business in today’s G20 world.

We put our clients first, by taking the time to understand their immediate and long-term needs and closely collaborating to help guide them through difficult issues, bringing our insight and judgment to each situation. Our innovative approaches create original solutions to our clients’ most complex domestic and multi-jurisdictional deals and disputes.




116 Pall Mall, Home of the Institute of Directors

Institute of directors

The London headquarters of the Institute of Directors are housed at 116 Pall Mall. As well as being one of the most popular business venues in the capital with thousands of IoD members and their guests visiting the premises every week, the building is also a landmark of London’s great Georgian Heritage.
The building is still owned by the Crown Estate and is Grade I listed. The IoD is therefore responsible for ensuring that the glory and heritage of the building, its décor and its contents are preserved and maintained for the benefit of members, their guests and future generations.
116 Pall Mall, SW1Y 5ED | Phone: +44 (0)20 7766 8866 | Fax: +44 (0)20 7766 8833 

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27th September, 2016
28th September, 2016



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