This INREV course will address the latest real estate financing issues. It will outline the changing landscape including lending trends, players, pricing and regulation for both senior and junior/subordinated debt from both traditional lenders and emerging sources such as debt funds.
As good relationship between fund manager and lender remains key in today's market, this course will also explore the approach of lenders to risk management and practical steps to identify potential issues in fund portfolios.
Finally we will look at debt as an asset rather than as a liability as it continues to grow as an investment class in its own right - on both a direct and indirect basis.
This course will cover the following topics:
- The latest developments in the real estate lending market
- Relevant trends in European regulation which will impact lending and debt disclosures
- The real estate capital structure - senior and junior debt
- Hedging strategies
- How fund managers manage their relationship with their lending partners
- Debt funds and other alternative lenders as they emerge as viable options for fund managers
- How investors will look at debt as an investment strategy and some of the benefits and drawbacks
The course will be given by leading industry experts with an emphasis on group discussions and case studies to allow participants to share their views.
Who should attend the course?
The course is aimed at experienced professionals within the non-listed real estate industry. It is suitable for middle to senior management which could include CFO/CIO/Finance Directors for funds and/or Portfolio Managers who wish to get update on the current real estate lending market as well as investors interested in debt as an investment strategy.
Upon completion of the course, participants will be able to:
- Understand the latest developments in the real estate lending market
- Have a good overview of current finance regulation and its impact on the non-listed property market
- Understand issues for fund managers when issuing debt
- Have a good overview of the needs of banks and other lenders when financing an acquisition or refinancing existing loans
This course is open to members and non-members and it counts towards the INREV/ Henley Certificate for non-listed real estate investments.