Autumn Conference 2016

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1 Programme Autumn etc. Venues 155 Bishopsgate, London EC2M 3YD Co-Chairs: Rob Mills, Partner, Clearbell Dan Smith, Executive Director, Fortwell Capital Limited Madeleine McDougall, Head of Institutional Clients, Lloyds Bank crefceurope.org

2 Monday 14 November Education Sessions Free to CREFC Europe members Speakers Dinner Tuesday 8 November 08:45 Registration Open 10:00-10:05 Welcoming Remarks Ben Herson, Georging Rush, Lloyds Bank 10:10-11:30 Education Session 1 - Brexit implications for CRE lending This session will address negotiation, due diligence, loan agreements and hedging post Brexit Moderator: Emma Matebalavu, Partner, Clifford Chance Presenters: Tina Pristovsek, Director, Bank of America Merrill Lynch International Jamie Macdonald, Director Global Real Estate, Chatham Financial Europe Ltd Klaus Betz-Vais, Director - Commercial Real Estate, Lloyds Bank Commercial Banking 11:30-11:50 Networking Break 11:50-12:55 Education Session 2 - Does credit or capital drive pricing? Economic drivers behind CRE lending Risk and returns, long-term hold and distribution Regulatory capital changes and their impacts across the market Broader reform proposals and implications Presenters: Peter Cosmetatos, CEO, CREFC Europe Clive Bull, Director, Deutsche Bank AG Pascal Richard, Director, Lloyds Bank Commercial Banking These educational sessions are aimed at junior market participants and students; they are free for CREFC Europe members and full time students with a real estate finance focus. Non-members are invited to attend at a price of VAT (bulk discounts available). All those interested must pre-register. Walk-in registration will not be available for the above sessions. Please note that access to the above sessions is separate from the main CREFC Europe Autumn. If you are joining the Autumn which begins Monday afternoon at 12:45 please note that the above sessions are available at no additional cost but you must still register. Contact Rachel at +44 (0) A complimentary invitation-only CREFC Europe workshop in association with RICS Monday 14 November UK CRE debt for Asian investors and lenders In pursuit of CREFC Europe s goal of making European CRE debt more accessible for investors, borrowers and new entrants, we have designed an informative half-day programme specifically for CRE debt investors from Asia. The focus will be on understanding and accessing opportunities in the UK CRE debt market, and will address specific issues relevant to investors from Asia. Attendees are eligible for discounted registration for the. READ ALL ABOUT IT HERE. Contact Carol +44 (0) Click here for highlights from last Autumn

3 Monday 14 November 12:45-14:00 Networking Lunch 13:15-13:45 Annual General Meeting (AGM) Invitation-only 14:00-14:10 Opening Remarks Steve Willingham, Chairman CREFC Europe, Global Co-Head of Event Financing - Infrastructure & Real Estate, HSBC Global Banking & Markets 14:15-15:00 KEYNOTE SPEAKER Kamal Ahmed, Economics Editor, BBC News We are delighted that Kamal is back to give us his view post Brexit vote after his excellent insight at our Spring earlier this year. Kamal Ahmed is the Economics Editor of the BBC, formerly the Business Editor of the BBC, a position he took up in March He leads the BBC s on air economics coverage and makes regular appearances on the Today programme, the BBC News at six/ten O Clock as well as Newsnight and documentary programmes across television and radio. His blog is widely read online. 15:00 15:30 Afternoon Tea 15:30 16:45 Borrowers and lenders sounding out Brexit What do Lenders really really want in the new paradigm? Most popular panel in 2015 Moderator: Dan Smith, Executive Director, Fortwell Capital Limited will be joined by Ian Marcus, Senior Consultant, Eastdil Secured and a selection of Borrowers and Lenders. Borrowers: Sanjay Sethi, Associate Partner & Head of Capital, Brockton Capital Richard Croft, Chief Executive, M7 Catherine Webster, Strategic Finance & Investment Director, Quintain Colin Throssell, Director of Finance EMEA, TH Real Estate Join active Borrowers & Lenders in conversation Lenders: Chris Bennett, Senior Manager, DekaBank Deutsche Girozentrale Roman Kogan, Head of CRE Europe, Deutsche Bank AG London Rob Clayton, Partner, DRC Capital LLP Steve Willingham, Global Co-Head of Event Financing - Infrastructure & Real Estate, HSBC Global Banking & Markets 16:45-17:15 Join Tim Cody, Managing Director, Accenture Products Ireland as he presents: Digital Technologies - hype or fundamentally transforming the way we work and how we live?

Monday 14 November 17:15 19:00 Join the Opening Networking Reception Third edition to be launched at the Reception Limited number of books available on the night Commercial Mortgage

4 Monday 14 November 17:15 19:00 Join the Opening Networking Reception Third edition to be launched at the Reception Limited number of books available on the night Commercial Mortgage Loans and CMBS: Developments in the European Market A must read for anyone seeking an understanding of the shape and direction of today s European commercial real estate (CRE) finance market.

5 Tuesday 15 November 08:00 Registration Open 08:30-09:15 Networking Breakfast 08:00-09:25 Intercreditors Meeting Ongoing Refreshments 09:25-09:40 Welcoming Remarks, Co-Chair 09:45-10:25 GUEST SPEAKER Steve Norris, Non-Executive Chairman, BNP Real Estate UK and Soho Estates Ltd 10:25-11:05 Delving into residential How has BREXIT impacted lending appetite for residential development in the UK? Which BREXIT factors are driving these changes? Given Prime Central London prices appear to be under pressure, do you see capital flowing strongly to regional parts of the U.K. and if so which destinations will benefit the most? What could be done to encourage this? Does the governments clear support of home ownership mean that the PRS sector is likely to remain under supported? What is the biggest barrier you see to stimulating the PRS development? What are the biggest challenges when lending to PRS developments? Do you see residential development financing, outside of the large listed house builders, remaining the domain of the alternative lenders or will the traditional balance sheet lenders return in force to the sector any time soon? Moderator: Justin Fiaz, Co-Founder, Pluto Finance (UK) LLP Panellists: Andrew Fairley, Investment Director, Housing Growth Partnership Ali Imraan, National Director for Debt Investments & Special Situations, LaSalle Dan Batterton, Fund Manager - Legal & General Investment Management Paul House, Managing Partner, Venn Partners 11:10-11:40 Morning Networking Break

6 Tuesday 15 November 11:45-12:25 Capital Flow around the globe Has the political environment now become one of the main drivers of capital flows round the world? Has Brexit in particular caused funds that were assigned to the UK to divert to continental Europe or will London still remain attractive and only the regions suffer? Is the EU without the UK still a stable political block for investing? Has the China stock market volatility caused funds flow to reduce out of Asia or have currency fluctuations meant it s stayed flat? Moderator: Riaz Azadi, Managing Director, Eastdil Secured Panellists: Massy Larizadeh, Director, Deloitte LLP Steve Willingham, Global Co-Head of Event Financing Infrastructure & Real Estate, HSBC Global Banking & Markets Abhishek Shome, Director of Finance, Lodha Developers UK Darrell Wheeler, Head of Structured Finance Research, S&P Global Ratings 12:30-13:00 Residential & Commercial property markets Where are we now? Join Lucian Cook and Mat Oakley from Savills as they examine the current state of the residential and commercial property markets, and how the prospects may have changed following the Brexit referendum result. They will examine the prospects for London and the regions, and highlight the markets and sectors that might offer most and least risk over the next five years. 13:00-14:00 Networking Lunch 14:05-14:45 Do we need to relearn all that we know? How investors and lenders respond to a radically new economic landscape Should Real Estate Investors make a permanent change in their expectations for returns on their investments? In a low or no interest rate environment, what change in approach should the Finance Director make to his or her interest hedging strategy? How do LIBOR floors affect this decision making? In the last financial crisis, many quoted REIT stocks were compelled to raise new equity to avoid breaching Loan to Value covenants. Should they revert to a covenant model which pays greater attention to Debt Yield and Interest Cover to avoid a repeat of this in the future? With other forms of debt more readily available, (Private Placement; Alternative lenders), are banks still relevant to Real Estate finance? Moderator: Max Sinclair, Head of UK Division - Commercial Real Estate, Wells Fargo Bank International Panellists: Soumen Das, Managing Director & Chief Financial Officer, Capco Damian Wisniewski, Finance Director, Derwent London Alison Lambert, Vice President, Finance Director Europe, Oxford Properties Sandy Gumm, Chief Operating Officer, Prestbury Investments LLP

7 Tuesday 15 November 14:50-15:35 What about the rest of Europe? What s going on and where are the opportunities? Opportunities in continental Europe Core and peripheral Europe New lending and existing loan books Banking sector across Europe Moderator: Andreas Wuermeling, Managing Director, Deutsche Pfandbriefbank AG Panellists:- Marco Rampin, Head of Debt & Structured Finance, CBRE Capital Advisors David Belford, Managing Director, Acquisitions, Colony Capital John Bigley, Principal, DRC Arnaud Heck, Head of Real Estate Finance, Natixis Asset Management Peter Denton, Senior Vice President, Head of Debt Europe, Starwood Capital Group 15:35-16:05 Afternoon Tea 16:05-16:35 Votes cast, new president elected - what s the fate of our industry? With the race to the White House exactly one week behind us join Peter Cosmetatos as he interviews CREFC s newly appointed Executive Director - Lisa Pendergast and Deputy Executive Director - Mike Flood to discuss and debate what the US election result will mean for our industry and the behaviour of US organisations and US capital. 16:35-16:55 WRAPPING IT UP... Join the conference co-chairs as they reflect and draw upon the common themes over the past 1 ½ days 17:00 Close Click here for highlights from last Autumn Programme subject to change

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Autumn Conference 2016

Autumn Conference 2016 Programme Outline Autumn etc. Venues 155 Bishopsgate, London EC2M 3YD Co-Chairs: Rob Mills, Partner, Clearbell Dan Smith, Executive Director, Fortwell Capital Limited Madeleine McDougall, Head of Institutional