CREFC Annual Conference

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As I’m writing this, I’m getting ready to attend CREFC’s 30th New York City Annual Conference and bacchanal.  Once again, we will enjoy the company of our confreres, we will network, we will get educated (yes, CREFC members do actually attend substantive sessions) and will all enjoy the curious joys of the Marriott Marquis (are…

As many of you know, I am retiring from Dechert LLP but anticipate staying active in our industry in my advisory vehicle, Jackstay Investments, LLC.  The firm has graciously given me the domain name CRUNCHEDCREDIT and hence, I will begin to resume publishing my commentaries in CrunchedCredit on an ongoing basis.  You will also be…

If the wisdom of crowds has any validity (and there’s no real evidence that it’s any worse than the pontifical huffings of the chattering class), then there’s hope for 2023.  Optimism did itself proud at CREFC.  We’ll see if that optimism is recapitulated at SFVegas and at the MBA CREF meeting coming up in the…

CREFC January 2022 – it was supposed to be the comeback conference. Everyone was pumped to spend a few days down south, getting together with their safely vaccinated clients, colleagues and friends. Meetings, mingling and mild mayhem were on the Miami menu. But days before the conference, the dreaded COVID, or more specifically Omicron, continued to rear its ugly head and put a damper on the plans of many. Emails with “Are you still going to CREFC???” were flying as the days counted down to January 9. Although many conference attendees chose to attend virtually, hundreds took a chance and made it down to Miami to enjoy the conference in person. Luckily CREFC is now well-versed in how to put on a virtual show, and those who were unable to attend in person were able to enjoy the panels from their office (or couch…or bed…).
Continue Reading Ahhh… Miami! Sun, Sand and Commercial Real Estate

Last week, over 4,200 of our closest friends met virtually for the annual January conference by the Commercial Real Estate Finance Council, which is usually held in Miami. While we have all learned to go without in the last year, going without seeing the “smart resort wear” of our colleagues was almost too much to bear. Thankfully, CREFC put together an informative and interactive conference – complete with a virtual lobby that played in between sessions featuring a guy on his cell phone walking in circles. Talk about realistic! Best of all, CREFC honored the real reason we attend conferences and provided a “virtual swag bag.” All in all, CREFC did the best they could under the circumstances and we agree that’s all we ask of anyone or thing at this point.
Continue Reading CREFC Annual Conference: The Virtual Edition

With apologies to Mr. Marquez for repurposing the title of his haunting book, it’s conference season here in CRE and ABS securitization-land and therefore a time to reflect (more Marquez) on the risks that the world will become more disorderly, or whether we will progress gently from a perfectly fine 2019 to 2020.  We attended CREFC in Miami, are currently attending MBA CREF in San Diego and SFA in Las Vegas (as mere vendors, we don’t get to go to Beaver Creek, more’s the pity). After having seen thousands of our best friends, we’ll have a pretty good sense of what the market thinks of 2020.  We’ve already published our outlook for the year, but now we test it against the wisdom of the crowd (or perhaps herd is closer to the mark).
Continue Reading Life in the Time of Conferences: CREFC, CREF and SFA

The annual June CREFC conference at the Marriott Marquis in New York City was slightly less well attended than Miami (well, no duh!), but low conference attendance and stormy weather didn’t stop over 400 people from attending Dechert’s annual party at the Knickerbocker. The market outlook from the commercial real estate finance crowd this year – perhaps – was remarkably positive given where we are in the cycle. Were we all trying to convince each other, or ourselves? Any unusual anxiety could, of course, be due to the thick fog and heavy rain but the conference itself felt a bit darker than in prior years because there are reasons for anxiety, right? This year, in addition to the tired sports analogies (how many 9th innings can there be?), there were multiple references to driving a car directly into a wall. That’s dark, man.
Continue Reading CREFC June 2019

Last week, the CREFC Annual Conference was back in its traditional New York venue, which benefitted not only the Manhattan hospitality market’s RevPAR but also provided for an exciting and lively location in Times Square.  Dechert’s bash on Monday evening was extremely well attended and the guests were treated to passed hors d’oeuvres and the…

Washington, DC SkylineCREFC held its Annual Conference last week in Washington D.C. Given the current politically charged climate, 2017 felt like a very appropriate time to move the Annual Conference from its traditional home in New York to Washington. Although attendance was down slightly from last year, over 1000 people attended the conference. Dechert hosted a reception on Monday at The Source restaurant for 250 friends and colleagues, where the excellent food and free flowing drinks lasted well beyond the official closing time.

The conference featured a number of new panels this year, including panels on the state of retail and the New York City real estate market. As usual, Dechert was well-represented in the panels and meetings. Dechert’s Dave Forti participated in a panel on “The Art of the Deal: Large Loan Challenges in 2017”, which discussed the current state of the large loan market and the challenges facing single-asset single-borrower (SASB) securitizations. One highlight of conference was the industry leaders’ round-table, which included Dechert’s Rick Jones and Laura Swihart, who closed out the roundtable in typical satirical, Washington fashion (Covfefe anyone?)
Continue Reading 2017 CREFC Annual Conference: Into the Heart of the Swamp