YMBA LUNCHEON: DEBT IS OPPORTUNITY
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|After the conference, we dropped by the Union Club for the Young Mortgage Bankers Association's spring luncheon, which focused on distressed debt. The speakers, here with YMBA's board, included Eastern Consolidated's David Schechtman (moderator), Weil Gotshal's Robert Lemons, Latus Partners' Howard Glatzer, and Square Mile Capital's Carolyn Pianin. The period of denial is over, they say, and the market is now accepting distress. CMBS onslaught has not come yet, and opportunity is looking at debt, buying at discount.|
|Congrats to Wolff & Samson's Mitchell Berkey, center, with Citi's Stephen Snell and AFC Capital Corp.'s Adam Horowitz, who tells us that he was recently named to NJ guv Jon Corzine's real estate advisory board, which is working with the administration on an economic development strategy for the Garden State. (More photos).|