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Speakers and Panels
From Term Sheet to Topping Out: Converting Capital into Completed Projects
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Justin Levine
President
Levcor
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Michael Johnson
Managing Director
JLL Capital Markets
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Toby Kettle
Commercial Resource Capital
Lee & Associates
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Jeff Samples
Chairman and CEO
IBC Bank Houston
The Capital Crossroads: Navigating Investor Sentiment and Financing Innovation in a Reshaped Market
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Gabe Lerner
EVP
Lincoln Property Company
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Bryan Kallenberg
VP, Capital Markets
BIG V PROPERTY GROUP
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Katherine Griffon
SVP
Cadence Bank
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Glenn Silva
COO
Lone Star Pace
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George Craft
Shareholder
Winstead
Why You Should Attend the Houston Capital Markets & CRE Finance Conference
Why This Matters:
Houston’s commercial real estate market stands at a transformative crossroads, driven by sustained high-interest rates, shifting investor dynamics, and evolving financing landscapes. With traditional lenders tightening standards, investors and developers must now master innovative capital strategies—from creative debt structures and mezzanine financing to joint ventures and assumable loans—to successfully navigate these challenges. Understanding the nuances of alternative financing sources, sector-specific shifts in valuation, and emerging trends like crowdfunding and tokenization is no longer optional; it’s critical to ensuring project viability and securing competitive advantages. This event gathers Houston’s top CRE players to reveal the most effective strategies and actionable insights, empowering attendees to capitalize on opportunities and thrive in an environment marked by complexity, change, and opportunity.
What You Will Learn:
Surge of Alternative Lenders: With banks exercising caution, non-bank capital sources are increasingly vital. Debt capital remains available, but the lender composition is evolving – meaning private equity debt funds, insurance companies, and credit unions are stepping in. How are developers engaging private lenders for bridge and mezzanine loans, albeit at higher interest rates. This shift creates both opportunity and cost: alternative lenders can be more flexible and quick, but their capital is pricier, forcing sponsors to weigh the trade-offs.
Creative Capital Stack Structuring: Dive into mezzanine loans and preferred equity – secondary capital that can boost leverage when senior loans only go to 55-60% Loan-to-Cost. Examine typical terms in today’s market and how sponsors decide between giving up some ownership via pref equity vs. taking on mezzanine debt. Joint ventures are also on the rise: local developers are partnering with institutional investors who provide sizable equity in exchange for a share of ownership and returns. This can effectively replace some debt with equity, lowering project leverage (and risk) in a tight credit market. Hear examples of Houston projects that came together through creative JV structures and how partners are aligned on exits and returns.
Emerging Financing Trends: Panelists will touch on cutting-edge trends like real estate crowdfunding and tokenization – is Houston seeing any impact from online crowdfunding platforms bringing in dozens of smaller investors to fund deals? And what about assumable loans – given the spread between older low-rate loans and today’s rates, we see a growing number of sales where buyers assume the seller’s existing debt to make the numbers work. All these innovative strategies aim at one thing: lowering the weighted average cost of capital and getting deals financed in a tougher environment.
Rising Interest Rates & Financing Costs: Hear how elevated rates have increased mortgage costs, deterring some investments and refinancing. Higher borrowing costs are putting downward pressure on property values, as investors require better yields to justify deals. Lenders have also reacted by tightening credit standards, especially for weaker asset classes like older offices.
Sector Winners & Losers: Which property types are thriving or struggling in Houston’s capital markets? Industrial and multifamily remain favored – fueled by robust demand (e.g. e-commerce logistics needs and housing demand from population growth). In contrast, office properties face valuation challenges, with high vacancy and uncertainty reducing investor appetite. Even retail, while relatively steady, sees cautious underwriting. Explore how investors are pricing these sectors differently and where they see opportunities.
Strategies to Get Deals Done: In a higher-rate environment, dealmakers are finding creative ways to bridge the gap. More equity is being required to meet lender stricter metrics and lower leverage. Hear about tactics like assumable debt, interest rate hedging, and joint ventures to make projects viable. With many hedging bets on a continued gradual decline in rates, “waiting it out” can be costly, so stakeholders are finding ways to transact despite the financing challenges. Expect insights on how deals are being structured in Houston today for success.
Articles You Should Read:
10-Year Treasury Yields Slip To 4% For First Time Since April
Fed Shaves Benchmark Rate As Powell Warns That 'There Are No Risk-Free Paths'
'Fresh Air' Or Just More Smoke? What The Rate Cut Means For CRE
Formerly Niche Asset Classes Emerge As Institutional Favorites In Volatile Market
'You're Going To Need More': New Interest Rates Aren't Cutting It For Houston CRE
Fed's Cut Is No 'Magic Fix,' But It Raises The Curtain On CRE's Next Act
Private Capital Fundraising For CRE On Track For 38% YOY Jump
Why LP Equity Partners Are Hiding From The CRE Capital Stack
The Gap Between CRE's Winners And Losers Keeps Widening
Nontraded REITs Have Erased The Backlog Of Redemptions, With One Exception
Bank Repossessions Of U.S. Real Estate Up 33%
For questions regarding content, speaking and sponsorship opportunities please email our Director of Event Production, Virginia Baker, at virginia.baker@bisnow.com. To request disability-related accommodations, please contact claire.ahrens@bisnow.com no later than seven business days prior to the event.
Venue
Omni Houston
4 Riverway
Houston, TX 77056
Ballroom: Constellation Ballroom, 1st Floor
Valet: $25.00
Self Parking: $15.00
Agenda
| Time | Activity |
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2:00 PM
3:00 PM
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Registration, Networking, & Breakfast
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3:00 PM
3:45 PM
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From Term Sheet to Topping Out: Converting Capital into Completed Projects
Pull back the curtain on how real estate projects in Houston get capitalized, de-risked, and built in a high-interest, low-margin environment. From the initial capital stack structuring to lender negotiations, investor alignment, and final execution, hear from developers, capital advisors, and investors on how deals are actually getting done in 2025. |
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3:45 PM
4:30 PM
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The Capital Crossroads: Navigating Investor Sentiment and Financing Innovation in a Reshaped Market
Capital isn’t gone, it’s just harder to access, more expensive, and far more selective. As Houston’s real estate leaders face a tougher investment climate, they’re leveraging new financing structures to bridge valuation gaps, mitigate risk, and get deals across the finish line. Explore how investor sentiment is shifting, where capital is actually flowing, and how creative financing strategies like C-PACE, mezzanine debt, and preferred equity are redefining what it means to build a financeable deal in 2025. |
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4:30 PM
5:00 PM
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Post-Panel Networking
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Sponsors
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