Commercial Real Estate Financing 2020

This seminar will bring together many of the most well-known industry leaders in commercial real estate finance to explain the how, what, and where of complex funding transactions, market trends, and lender/borrow considerations within the current legal landscape.

What You Will Learn

• Analyze current market trends
• Understand cross-border issues in loans, e.g. EU bail-in language or inclusion of Pfandbrief
• Discuss funds from all sides of transactions
• How to structure workouts and when to pursue them
• Find out how the courts interpret finance documents and where the courts stand on common disputes
• Learn what the rating agencies are thinking
• Lessons in bankruptcy often overlooked by finance attorneys 
• Identify and avoid potential areas of malpractice

Special Features

• State of the market address from investor perspective
• Hot topics in finance including HVCRE concerns, funding structures, and more
• Rating agency expectations (NYC only)
• 1 hour of ethics

Program Level: Intermediate

Prerequisites: Attendees should have some background in commercial real estate and financing objectives

Intended Audience: Commercial real estate attorneys and other advisors to real property owners, developers, investors, sophisticated lenders and borrowers

Advanced Preparation: None 

Segments with an asterisk (*) are available only with the purchase of the entire program.

• Opening Remarks and Introduction* [00:08:42]
  Joshua Stein
• State of the Financing Market [00:58:18]
  Joshua Stein, Joseph Philip Forte
• New Clauses and Issues in Loan Documents [00:59:42]
  Gary A. Goodman
• Specialized Lending [01:00:20]
  Christopher J. Carolan
• Questions the Ratings Agencies Ask [01:00:00]
  Ellen M. Goodwin, Daniel B. Rubock
• Legal Opinions [01:01:18]
  Gregory P. Pressman
• Real Estate Funds in Real Estate Finance [00:59:26]
  Kahlil T. Yearwood
• Ground Lease Financing [01:00:30]
  Joshua Stein
• Distressed Loans (Excluding Workout Negotiations) [01:02:33]
  Richard S. Fries
• Workout Negotiations [00:58:47]
  Kimberly Brown Blacklow, Diana M. Brummer
• Bankruptcy for Real Estate Finance Lawyers [01:01:27]
  Schuyler G. Carroll
• Recent Cases on Real Estate Finance [00:58:45]
  Emilie Cooper, Janice Mac Avoy
• Legal Ethics & Malpractice Prevention [01:00:11]
  Nancy Ann Connery, Mindy H. Stern

The purchase price of this Web Program includes the following articles from the Course Handbook available online:

• COMPLETE COURSE HANDBOOK
• Sample Loan Agreements Clauses
  Gary A. Goodman
• Gary A. Goodman and Alice F. Yurke, The Death of LIBOR and the Afterlife
  Gary A. Goodman
• FDIC Financial Institution Letters, Regulatory Capital Rules: Revised Definition of a High Volatility Commercial Real Estate (HVCRE) Exposure (November 20, 2019)
  Gary A. Goodman
• Regulatory Capital Treatment for High Volatility Commercial Real Estate (HVCRE) Exposures, 12 CFR Part 3, 217, 324, 84 Fed. Reg. 68019, No. 240 (December 13, 2019)
  Gary A. Goodman
• Practical Law Finance, What’s Market: Increased Costs from the Dodd-Frank Act and Basel III (September 30, 2019)
  Gary A. Goodman
• Practical Law Real Estate, Lender Risks under New Delaware LLC Division Law (November 14, 2018)
  Gary A. Goodman
• DZ HYP, The German Pfandbrief Market 2018/2019— German Pfandbrief under the Influence of Europe (September 2018) [Program Download Only]
• Virginia Allen, et al., The Heavy Price of GDPR (September 30, 2019)
  Gary A. Goodman
• Dentons, GDPR: Much Ado About Nothing? (December 20, 2019)
  Gary A. Goodman
• Official Journal of the European Union, Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014
  Gary A. Goodman
• Michael J. Roth and Lauren M. Mioduszewski, Where Does My Money Go: The Basics of Deposit Accounts and Cash Management in Real Estate Finance Transactions (January 10, 2020)
  Michael J. Roth
• Moody’s Investors Service, Sector Profile, CMBS-US, Sector Update—Q3 2019: Slight Improvements in Credit Metrics Amid Falling Interest Rates (December 5, 2019)
  Daniel B. Rubock
• Leases, Tenants, Estoppels and SNDAs (January 2020)
  Ruth A. Schoenmeyer
• Anatomy of an Opinion
  Gregory P. Pressman
• Mortgage Loan Opinion—Useful Sources and Case Law Precedents
  Gregory P. Pressman
• Precedent Opinions/Useful Materials
  Gregory P. Pressman
• Third Party Real Estate Legal Opinion Practice 2020: Revisiting Selected Third-Party Opinion Letter Practice Issues
  Kenneth M. Jacobson, Illustrative Certificate
• Equity Capital: Preferred and Otherwise (January 4, 2018)
  Daniel G.M. Marre
• Hedge Fund Investments in Real Estate: Legal and Tax Issues (February 6, 2020)
  Ross L. Yustein, Andrew M. Chonoles
• Insurance Circular Letter No. 2a (2019): Insurance Regulation 208, 11 NYCRR Part 228, Department of Financial Services (January 31, 2019)
• The Most Important Issue in Every Ground Lease
  Joshua Stein
• Distressed Commercial Real Estate Loan Enforcement—Today’s Trends and Developments
  Richard S. Fries
• Bates McIntyre Larson and Jordan G. McCarthy, Navigating Foreclosure of Distressed Loans: Planning for Foreclosure, Common Issues and Avoiding Lender Liability (January 6, 2020)
  Bates McIntyre Larson
• Commercial Real Estate Loan Work Outs (January 2020)
  Diana M. Brummer, Kimberly B. Blacklow
• Bankruptcy for Real Estate Finance Transactional Lawyers
  Schuyler G. Carroll, Patrick C. Maxcy, Thomas A. Labuda
• Recent Cases on Real Estate Finance
  Emilie B. Cooper, Janice Mac Avoy
• Courtesy, Professionalism and Ethics: E-Mail, the Internet and Computers
  Nancy Ann Connery

Presentation Material

• Richard Fries and Joshua Stein, How Commercial Real Estate Finance Has Changed in The Last Two Decades, NYLJ (March 13, 2019) [Program Download Only]
• State of the Financing Market_PowerPoint
  Joseph Philip Forte
• Chapter 7: DZ HYP, The German Pfandbrief Market 2018/2019 – German Pfandbrief Under the Influence of Europe (Sept. 2018) [Program Download Only]
• Yield Protection Clauses in Credit Agreements [Program Download Only]
• Specialized Lending_PowerPoint
  Christopher J. Carolan
• Questions the Ratings Agencies Ask_PowerPoint
  Ellen M. Goodwin, Daniel B. Rubock
• Legal Opinions_PowerPoint
  Gregory P. Pressman
• Ground Lease Financing_PowerPoint
  Joshua Stein
• Workout Negotiations_PowerPoint
  Kimberly Brown Blacklow, Diana M. Brummer
• Legal Ethics & Malpractice Prevention_PowerPoint
  Nancy Ann Connery

This seminar will bring together many of the most well-known industry leaders in commercial real estate finance to explain the how, what, and where of complex funding transactions, market trends, and lender/borrow considerations within the current legal landscape.

What You Will Learn

• Analyze current market trends
• Understand cross-border issues in loans, e.g. EU bail-in language or inclusion of Pfandbrief
• Discuss funds from all sides of transactions
• How to structure workouts and when to pursue them
• Find out how the courts interpret finance documents and where the courts stand on common disputes
• Learn what the rating agencies are thinking
• Lessons in bankruptcy often overlooked by finance attorneys 
• Identify and avoid potential areas of malpractice

Special Features

• State of the market address from investor perspective
• Hot topics in finance including HVCRE concerns, funding structures, and more
• Rating agency expectations (NYC only)
• 1 hour of ethics

Program Level: Intermediate

Prerequisites: Attendees should have some background in commercial real estate and financing objectives

Intended Audience: Commercial real estate attorneys and other advisors to real property owners, developers, investors, sophisticated lenders and borrowers

Advanced Preparation: None