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Debt & Equity Market Analysis: Who’s Lending, Who’s Buying

Debt Appetite, Equity Selectivity and the Capital Dynamics Shaping Boston's Current Wave of Transactions

Quentin Reynolds

Quentin Reynolds

President and Chief Investment Officer

The Davis Companies

Ryan McDonough

Ryan McDonough

CIO

Marcus Partners

Brian Salyards

Brian Salyards

Executive Director

PGIM Real Estate Finance

Andrew Dansker

Andrew Dansker

CEO

Dansker Capital Group

Mark Zink

Mark Zink

SVP, Senior Commercial Lender

Institution for Savings

Ian Lane
Moderator

Ian Lane

Partner & Chair of Commercial Finance Practice

Sherin & Lodgen

Brian Salyards

Executive Director

PGIM Real Estate Finance

Brian Salyards is a Principal with PGIM Real Estate Finance. In this role, he is responsible for the direct origination of multifamily debt across the United States, through Freddie Mac; Fannie Mae; FHA; the life company portfolio; CMBS executions and the company's proprietary balance sheet/bridge loan programs. Brian is located in Boston.

Brian has more than 25 years of experience in the real estate industry, with considerable experience in commercial real estate finance. Prior to joining the company in 2011, Brian was with Deutsche Bank Berkshire Mortgage (now Berkeley Point Capital), where he served from 2001 to 2011. In that capacity, he originated more than $1.3 billion in multifamily loans. Earlier, he was a senior regional underwriter with Berkshire Mortgage Finance. Brian began his career by forming his own real estate company, J&B Home Realty, which he ran successfully for 10 years. As co-owner, he was involved in the acquisition, investment, sale and leasing of single family and multifamily properties in Massachusetts and New Hampshire.

Brian received a Bachelor of Science degree in business administration from the University of New Hampshire Whittemore School of Business and Economics. He also earned a certificate in real estate finance from Boston University.

Andrew Dansker

CEO

Dansker Capital Group

Andrew Dansker is the CEO and founder of Dansker Capital Group, a national mortgage brokerage firm with six U.S. offices and one international office. He oversees a team of 30 professionals originating commercial mortgage debt across all major asset types, with a particular focus on retail and multifamily properties. The firm primarily arranges bank and credit union financing while also executing agency, CMBS, life company, and bridge loan transactions as appropriate. Since its establishment as an independent company in 2020, Dansker Capital Group has placed well over $3 billion in commercial real estate loans nationwide.

Andrew believes the middle-market debt marketplace is under-served by professional, high-quality national firms and sees a significant opportunity for an enterprising company to fill that gap. His leadership vision is to build an organization that delivers institutional-quality service, execution, and results to the national middle-market debt space.

Andrew is a published industry commentator whose writing on the real estate lending market has appeared in The Commercial Observer, Real Estate Weekly, and New York Real Estate Journal. He is also a frequent industry speaker and contributor at conferences and events organized by Bisnow, GlobeSt, Interface, Commercial Observer, ConnectCRE, and other leading commercial real estate platforms. He has more than 15 years of experience in the real estate industry. Andrew earned a Bachelor of Arts in Political Science from the University of Chicago and a Juris Doctor from New York University School of Law.

Mark Zink

SVP, Senior Commercial Lender

Institution for Savings

Mark Zink manages the Institution for Savings’ commercial lending operations. In that role, he is responsible for loan growth, portfolio performance and the overall lending process, including policy development, loan review, and compliance.

Mark joined the Bank as vice president in June of 2020 and was promoted to senior vice president in January 2022. Previously, he was vice president of commercial lending at Melrose Bank for five years and Radius Bank for seven years.

Since joining the Bank Mark has been an integral part of the Bank’s commercial lending success, which today includes a portfolio of nearly $1 billion in commercial real estate loans, term loans and lines of credit. His keen knowledge of the Massachusetts commercial lending environment is invaluable to the continued growth and expansion of the Bank.

Mark earned a BA degree from Western New England University and an MBA from

Northeastern University. He serves on the board of Citizens Inn and the Horizon Club, volunteers at Lazarus House in Lawrence and is the treasurer of the Topsfield Athletic Association.

Mark is based in the Bank’s Lending Center located at 81 State Street in Newburyport.

Ian Lane

Moderator

Sherin & Lodgen

Ian T. Lane is a trusted legal adviser, helping real estate and lending clients accomplish their business goals.

As a partner in the firm’s Real Estate Department and Chair of the Commercial Finance Practice Group, Ian concentrates his practice on complex financing transactions, including CMBS loans, representing lenders, borrowers, and investors. Clients appreciate his business acumen and understanding of each party’s unique position in complicated financings, having successfully closed loan transactions totaling billions of dollars throughout the United States.

Ian is also experienced in structuring and reviewing large mortgage loans for securitization in the capital markets and in restructuring distressed loans. In addition to his finance experience, Ian represents clients in acquisitions, dispositions, and leasing.

Prior to joining Sherin and Lodgen, Ian was counsel in the Boston office of Seyfarth Shaw and was resident in the Beijing office of a large international law firm. His international practice included the representation of investors in the restructuring and acquisition of non-performing loans and other distressed assets in China.

Ian is a member of the Boston Bar Association, the Real Estate Finance Association (REFA), and was a voting representative of the Commercial Real Estate Finance Council (CREFC), the trade association for the $4.4 trillion commercial real estate finance industry. He is also an alum of the Boston Future Leaders program, a yearlong professional development program run by the Greater Boston Chamber of Commerce in partnership with the Harvard Business School, which activates emerging leaders to confidently lead Boston into the future. While in law school, Ian served as articles editor for the Buffalo Law Review and taught an accounting class in the university’s School of Management.

Distress and Buying Opportunities in a Market Reset

Loan Maturities, Balance Sheet Pressure and the Acquisition Opportunities Emerging

Tod McGrath

Tod McGrath

SVP

BXP

Tod Brainard

Tod Brainard

CIO

Tritower Financial Group

Min Zhou

Min Zhou

Managing Director

Ares Management

Ian Brandon

Ian Brandon

EVP, Chief Commercial Banking Officer

Cambridge Savings Bank

Matt Stayman
Moderator

Matt Stayman

Partner

Goodwin

Ian Brandon

EVP, Chief Commercial Banking Officer

Cambridge Savings Bank

Ian Brandon is the Executive Vice President and Chief Commercial Banking Officer at Cambridge Savings Bank (CSB). Ian leads CSB’s corporate banking operations and strategy, including commercial, specialty lending, and treasury management across diverse industry verticals. With more than 25 years of experience and over $10 billion in completed transactions, Ian is known for delivering client-focused solutions and balancing strategic growth with disciplined credit and risk oversight.

Prior to joining CSB, Ian held senior leadership roles at BankNorth, TD Bank, Emigrant Bank, and American Property Finance. He earned his M.B.A. from Boston University and a B.A. in Political Science and Economics from the University of Massachusetts Amherst.

Ian is also passionate about community involvement and is actively engaged in professional and civic organizations. He is a member of the Real Estate Finance Association, the National Association of Industrial and Office Properties (NAIOP), the Urban Land Institute, and the Real Estate Lenders Association. He also contributes his time and expertise to the Presidents Circle at the Dana-Farber Cancer Institute and serves on the financial advisory committee at the Winchendon School.

Matt Stayman

Moderator

Goodwin

Matthew Stayman is a partner in the firm’s Business Law Department and a member of its Real Estate Industry group. Matthew represents real estate investment funds, REITs and other owners and operators of commercial real estate in a variety of complex real estate transactions across asset classes, including sales and acquisitions (including sales and acquisitions of REIT shares), formation of joint ventures and co-investment vehicles, and preferred equity transactions. Matthew also has extensive experience representing borrowers and lenders in a variety of financing transactions including mezzanine loans, mortgage loans and note-on-note financings. Additionally, Matthew regularly represents institutional investment funds in connection with subscription secured credit facilities.

EXPERIENCE

Matthew’s experience includes representing:

• A publicly traded REIT in connection with the acquisition and refinancing of a $300+ million portfolio of retail properties

• A real estate investment management client in connection with the sale of a $1.5+ billion portfolio of industrial properties

• A nationally recognized commercial real estate company in the $2+ billion sale of a major metropolitan office building

• A real estate investment management client in connection with the $100 million + sale of a portfolio of senior housing facilities and, in connection therewith, negotiation of short-sale agreements with several lenders having loans secured by such facilities

• A real estate investment management client in the formation of a co-investment vehicle with $120+ million of capital commitments for the acquisition and construction of an industrial development

• A real estate investment management client in connection with the $90+ million sale of an office property via the sale of REIT shares

• A debt fund in connection with the origination of mortgage and mezzanine loans aggregating to $95+ million and, in connection therewith, obtaining note-on-note financing secured by the underlying loan

• A real estate investment management client in connection with the formation of a programmatic joint venture to acquire single family rental communities and, in connection therewith, the closing of the venture’s initial acquisition of a $170+ million portfolio of single family rental communities

• A real estate investment management client in connection with obtaining a $145 million financing secured by a portfolio of industrial assets

• A real estate investment management client in connection with obtaining an $80+ million construction loan for the development of a mixed-use project including restaurant, retail and office space

• A real estate investment management client in connection with securing a $300 million subscription-secured credit facility for one of its real estate investment funds

• A real estate investment management client in forming a joint venture to acquire a $140+ million portfolio of hotel properties and securing a $100+ million mortgage loan in connection therewith

Why You Should Attend This 2026 Boston Capital Markets Event

What You'll Learn:

  • How are lenders adjusting underwriting standards, leverage levels, and loan structures for debt lending across different asset classes today?

  • Who is actively deploying equity in Boston, and what risk profiles and return thresholds are driving investment decisions from GPs and limited partners?

  • How are borrowers navigating refinancing challenges as loans mature in a higher-rate environment?

  • Where are valuation gaps most pronounced, and how are market participants bridging pricing expectations?

  • What signals are investors watching to determine whether pricing has fully reset?

  • How are recapitalizations being structured to preserve value while addressing balance sheet pressure?

  • What types of distress are creating real acquisition opportunities versus prolonged workouts?

  • How are capital sources viewing Boston differently than other major markets in the current cycle?

  • What role are private credit, non-bank lenders, and alternative capital playing in filling liquidity gaps?

  • How should sponsors position assets and capital stacks to remain financeable over the next several years?

How You'll Do More Business:  Learn more from Boston's leading deal makers discussing the landscape of commercial real estate debt and equity markets, the role of interest rates on deal activity and how the industry is assessing the overall market. Hear from top owners, investors, lenders, debt providers and brokers.

Who You'll Meet: Investors, developers, owners, lenders, banks, equity raisers, brokers, lawyers, accountants, heads of real estate and consultants.

For questions, recommendations, comments, or press inquiries please email our Northeast Events Producer, Joshua Piquion at Joshua.piquion@bisnow.com

To request disability-related accommodations, please contact Mackenzie.kunkle@bisnow.com no later than seven business days prior to the event.

Current Events Articles

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Agenda

Time Activity
12:30 PM
1:30 PM
Coffee, Breakfast & Networking
1:30 PM
2:15 PM
Debt & Equity Market Analysis: Who’s Lending, Who’s Buying

1.) What equity investors are prioritizing in terms of asset quality, sponsorship, and return expectations.
2.) How Boston compares to other gateway and secondary markets for capital allocation.

2:15 PM
3:00 PM
Distress & Buying Opportunities in a Market Reset

1.) Examine buying opportunities present in the market due to basis resets and how investors are taking advantage.
2.) Explore distress opportunities tied to loan maturities and balance sheet pressure.

3:00 PM
3:30 PM
Post Event Networking

Sponsors

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