Chris Tokarski is a founder and one of the four Managing Partners of ACORE, with $13+ billion in assets under management in commercial real estate debt strategies. He is also the Chairman of ACORE’s investment committee. Mr. Tokarski has 23 years of experience in the commercial real estate finance industry and capital markets. Prior to ACORE, he was the Chief Credit Officer of Starwood Property Trust, Inc., a public mortgage REIT, from October 2010 to September 2014.
How Loan Restructuring Can Keep Hotels in Business
Event Overview
To date, about $350 billion of debt has been taken out by the industry, held by regional banks, CMBS master/special servicers, and real estate debt funds. These various lenders each have their own particular strengths, weaknesses, and limitations that owners and managers will need to navigate in order to fulfill their debt obligations and ensure that once the pandemic passes, they will still have a hotel and their employees will still have jobs.
This one-hour online moderated session will feature a panel of hotel industry and commercial real estate experts who will examine the various lending options available to hard-pressed hotel owners and operators.
What You'll Learn
- How hotel owners and operators can expedite the lender’s decision-making process and gain respect from the lender’s management committee
- How the expected length of the lending process may vary by lender
- What reasonable and feasible restructuring proposals a borrower can discuss with the various lenders
- The costs that borrowers should expect after reaching a restructuring agreement
- What options borrowers might have if they still face financial hardship at the maturity of their restructuring agreement
Speakers
Daniel Lebret is a senior lecturer in real estate finance at the Cornell Nolan School of Hotel Administration. He has been at Cornell University since he received his Ph.D. in 2008, and his teaching responsibilities have included undergraduate and graduate courses on real estate finance, real estate financial modeling, real estate statistical modeling, urban economics, securitization, and structured finance, along with coaching teams of students for real estate finance case competitions.
Jay Mantz is the President of Rialto Capital Management, LLC. Rialto Capital Management, together with its affiliates, is an integrated real estate investment and asset management company that invests and manages assets throughout the capital structure in real estate properties, loans, and securities. As of June 2019, Rialto has $3.6B of EUM and is the named special servicer on approximately $110B of commercial mortgage loans.
Ray Potter is a founder and Managing Partner of R3 Funding with more than 25 years of experience in commercial lending. Mr. Potter has originated or securitized more than $16B in real estate loans over his career in the United States and Canada. During this time, he has earned the trust and respect of both borrowers and mortgage bankers while working in senior leadership positions within various Wall Street financial institutions.
Chris Tokarski is a founder and one of the four Managing Partners of ACORE, with $13+ billion in assets under management in commercial real estate debt strategies. He is also the Chairman of ACORE’s investment committee. Mr. Tokarski has 23 years of experience in the commercial real estate finance industry and capital markets. Prior to ACORE, he was the Chief Credit Officer of Starwood Property Trust, Inc., a public mortgage REIT, from October 2010 to September 2014.
Daniel Lebret is a senior lecturer in real estate finance at the Cornell Nolan School of Hotel Administration. He has been at Cornell University since he received his Ph.D. in 2008, and his teaching responsibilities have included undergraduate and graduate courses on real estate finance, real estate financial modeling, real estate statistical modeling, urban economics, securitization, and structured finance, along with coaching teams of students for real estate finance case competitions.
Jay Mantz is the President of Rialto Capital Management, LLC. Rialto Capital Management, together with its affiliates, is an integrated real estate investment and asset management company that invests and manages assets throughout the capital structure in real estate properties, loans, and securities. As of June 2019, Rialto has $3.6B of EUM and is the named special servicer on approximately $110B of commercial mortgage loans.
Ray Potter is a founder and Managing Partner of R3 Funding with more than 25 years of experience in commercial lending. Mr. Potter has originated or securitized more than $16B in real estate loans over his career in the United States and Canada. During this time, he has earned the trust and respect of both borrowers and mortgage bankers while working in senior leadership positions within various Wall Street financial institutions.
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