Sessions are scheduled for Tuesday, November 2, 9, and 16 from 6:00-8:00 pm EST.
This three-session module introduces the framework of CRE investment through the lens of distressed situations.
The course meets virtually on a synchronous basis (i.e., the course is taught live) over successive sessions each week and relies on active student participation. Characteristics that trigger distressed situations will be addressed. Participants will be exposed to cases and expert perspectives that surface legal, valuation, and strategic considerations typical in CRE workouts. An interactive pedagogy utilizes case studies of CRE distressed debt situations to provide a framework to analyze underlying characteristics of the collateral, devise valuation techniques for non-stabilized assets, learn how and why mortgage debt trades at a discount to par, and resolve a distressed deal via a live negotiation. The modules provide an understanding of investing in non-par CRE mortgage debt. Participants will analyze, underwrite, and dissect several real-life CRE distressed debt financial case studies. The case studies bring forth legal, valuation, and strategic considerations typical in CRE workouts.
Module participants must attend and actively participate in the entirety of each scheduled class and are required to utilize the camera-on feature in Zoom. Participants are expected to read the case studies and prepare coursework sets in advance of each session. Sessions will not be recorded.
Students who would like to participate can find further details in the weekly real estate club newsletter or by contacting their club leadership.
Session 1 Tuesday November 2, 2021 @ 6:00-8:00pm EST
Case Study: Falcon Park (Part 1)
√ Distressed environment and catalysts
√ Collateral valuation, sensitivity analysis, and impact on restructuring dynamics
Session 2 Tuesday, November 9, 2021 @ 6:00-8:00pm EST
Case Study: Falcon Park (Part 2)
√ Sub-performing mortgage investment valuation
√ Loan document review and mechanics of secondary market trading
Session 3 Tuesday, November 16, 2021 @ 6:00-8:00pm EST
Case Study: The Gardens
√ Operative legal document review for workouts and foreclosures
√ Loan sale process and diligence procedures
Made possible through a generous gift from Brian Ward (PLDA ’18) Trimont Real Estate Advisers
