Exploring the Current Market Dynamics & Issues in Commercial Real Estate Investment
Join us for an insightful exploration into commercial real estate capital and investment. This session will delve into the intricacies of current market dynamics, focusing on key areas such as JV equity, preferred equity, and mortgage and mezzanine loan debt. Our comprehensive discussion aims to shed light on the complexities and evolving trends in commercial real estate, providing valuable knowledge for investors, professionals, and enthusiasts alike.
- Detailed examination of JV equity vs. preferred equity.
- Analysis of current equity market waterfalls & fees.
- A comprehensive overview of senior mortgage debt and market trends.
- Structure and implications of mezzanine debt
- A thorough examination of sponsor/investor risk allocation.
- Chair, Real Estate Private Equity (New York) @
Thomas Maira advises real estate private equity funds, investors, buyers, developers, borrowers, sellers, and lenders in connection with joint venture and preferred equity investments, acquisitions, development, mortgage and mezzanine loans, workouts and dispositions in connection with various asset classes (including multifamily, industrial, office, and retail) nationally.
Thomas previously led, in a general counsel role, a large multinational investment company’s commercial real estate legal group, including involvement with legal and business strategy, as well as transaction origination, structuring, negotiation and execution.
Real Estate Private Equity Funds: Represented many real estate private equity and investment vehicles as the capital partner, preferred equity investor, or mortgage or mezzanine lender in many asset classes (stabilized and development) and on a national basis.
Real Estate Joint Ventures: Represented many real estate operators and developers as the operating partner in real estate joint ventures in many asset classes (stabilized and development) and on a national basis.
Multifamily and Student Housing: Represented various national investors and developers in the acquisition, joint venture, financing, development, refinancing, workout and sale of Multifamily and Student Housing assets.
Real Estate General Counsel: Implemented and executed legal aspects of acquisitions, joint ventures, financings, workouts, restructurings, and dispositions of a $3 billion portfolio of real estate assets, loans and operating companies, including retail mall, shopping center and multifamily property portfolios and operating companies, self-storage property portfolios, mixed-use and retail land development properties, mezzanine loan origination and purchase, industrial properties, and a parking operating company.
- Chief Investment Officer @
- Waterway Family Funds LLC
Mr. Pemberton is the Chief Investment Officer of Waterway Family Funds. Mr. Pemberton brings a wealth of knowledge and wide breadth of experience to this role with his over 25 years of experience in global real estate transactions, totaling over $10 billion in acquisitions and average returns of 15% over the last 10 years. Prior to joining Waterway Capital in March 2022, Mr. Pemberton served from 2012 to 2022 as the Chief Acquisitions Officer for Waypoint Residential, leading multifamily, student housing, and senior living acquisitions. Mr. Pemberton also previously served as President and Chief Executive Officer of Avatas Capital, which completed $3.4 billion in retail and commercial office transactions. He also worked as the Managing Director and Co-Head of Real Estate, Americas for Babcock & Brown, and was responsible for overseeing a $5 billion diversified real estate portfolio as well as raising $2 billion in equity.
Mr. Pemberton holds bachelor’s degrees in accounting, economics, and finance, and a Masters in Business Administration from the University of Findlay, Ohio.
- President High Yield Investments and Special Servicing @
Mr. Russell leads Greystone’s investment in CMBS B-pieces in both the primary and secondary markets. Prior to this appointment, Mr. Russell launched Greystone’s CMBS business. Mr. Russell has over 25 years experience in real estate lending and investments including senior positions at Nomura, Credit Suisse and Guggenheim Partners. Mr. Russell was a founding officer of Pillar Multifamily serving as Chief Production Officer.
- Founder @
- Lone Star Capital
Rob Beardsley, as founder of Lone Star Capital, oversees acquisitions and capital markets and has acquired over $500M of multifamily real estate. Rob has sold over 20,000 copies of his two books on multifamily underwriting and structuring and raising debt and equity. He has written over 50 articles about underwriting, deal structures, and capital markets and hosts the Capital Spotlight podcast.
A full-service, national firm with lawyers and professional business staff coast to coast, we assemble a hand-crafted team for every client to get to the right answer, achieve the ideal resolution, and deliver the best experience for you. From geography to practice specialty and industry knowledge, versatility is a core trait for Akerman. Our inclusive culture impacts the way we see the world and deliver results to you. The diversity of experience and background of our attorneys mean that the right match is always there for you.
Recognized by Financial Times as among the most forward-thinking firms in the industry, we combine a culture of innovation and creativity with a century of enterprise stability. We are Akerman and we are fiercely loyal, thoughtful, and committed to delivering you an exceptional client experience.
Founded in 1988, Greystone is a private commercial real estate finance and investment company with unmatched experience in debt, equity, investment sales and loan servicing solutions. The firm is the #1* ranked Federal Housing Administration multifamily and healthcare lender by firm commitments, and a top 10 Fannie Mae and Freddie Mac multifamily real estate lender.
In 2022, Greystone produced $16 billion in CRE transaction volume and currently manages a combined primary and special loan servicing portfolio of over $89 billion across a wide variety of commercial property types. In addition, last year Greystone entered into a strategic joint venture with Cushman & Wakefield, the number two ranked brokerage in the nation as reported by Commercial Property Executive. Together, the partners provide full-service investment sales, advisory and lending services.
Lone Star Capital
Since 2018, Lone Star Capital has acquired over $500 million in acquisitions and delivered 30%+ returns through tax-advantaged multifamily investment opportunities with robust monthly cash flow and strong upside potential. Our exclusive focus on workforce housing in Dallas, Houston, and San Antonio submarkets with favorable growth enables us to pinpoint exceptional opportunities with superior risk-adjusted returns.
Waterway Family Funds LLC
Waterway Capital provides unique debt solutions for commercial real estate investors, owners and developers. We have shaped the commercial real estate industry for more than two decades. We pioneered the credit tenant loan (CTL) market and have expanded over the years to become a leader in lease-backed structured finance.