Finance Forecast: Market Downturn, Preparing to Capitalize on 2026 & Potential Risk

How to Navigate the Major Investment Headwinds

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  David Greenburg

  Managing Director

  Affinius Capital

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  Shannon Stotts

  Shannon Stotts is the Head of CRE Credit and Asset Management for Saluda Grade CRE. She has 25+ years in commercial real estate finance with an extensive track record in complex debt and equity transactions. Prior to joining Saluda Grade, she was Chief Credit Officer and Head of Asset Management for Real Estate Credit at Manulife Investment Management. Previously, she had various roles at Island Capital and its affiliates, serving as Chief Credit Officer for Exantas, a publicly traded mortgage REIT, and Managing Director in the Island New York City Recovery Fund. Prior to Island, she led Floating Rate Capital Markets at Natixis Real Estate Finance and had various roles in credit, structuring, and distribution at Lehman Brothers, including as a senior member of the team working out the commercial real estate portfolio post-bankruptcy. Ms. Stotts holds a BS in Economics from the Wharton School of the University of Pennsylvania and an MBA in Quantitative Finance from NYU’s Stern School of Business.

  Saluda Grade

  Head of CRE Credit & Asset Management

  Shannon Stotts

  Head of CRE Credit & Asset Management

  Saluda Grade

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  Yorick Starr

  Yorick Starr is a Managing Director and Investment Officer at Invesco Real Estate. Yorick is responsible for originating senior and mezzanine loans for the commercial real estate credit lines of business a primary focus on the Northeast and Eastern US. Yorick began his investment career in 2002 and joined Invesco Real Estate in 2017. Prior to joining Invesco, he was a senior vice president of the commercial real estate group at Wells Fargo based in New York, where he was responsible for managing a team of relationship managers focused on institutional clients, overseeing originations, portfolio management and day-to-day operations of the office. Yorick spent over 15 years at Wells Fargo in a variety positions, including acquiring and financing sub-performing and performing commercial real estate loan portfolios, managing commercial real estate loan workouts and working within a specialty finance group. Yorick earned a Bachelor of Business Administration from the University of San Diego with minors in accounting and computer science.

  Invesco

  MD

  Yorick Starr

  MD

  Invesco

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  Eugene Poverni

  Mr. Poverni’s expertise encompasses structuring and managing of the development life cycle, from project feasibility studies, to site control, financing, syndication, construction management, asset stabilization and disposition. Mr. Poverni founded the firm in 2011 and continues to be the driving force behinds its growth, and is thankful for the talented people that work at PSG to help make its’ projects and business lines a success day-in and day-out. Mr. Poverni holds a J.D. from the George Washington University, and an M.B.A from the University of Maryland.

  Poverni Sheikh Group

  CEO

  Eugene Poverni

  CEO

  Poverni Sheikh Group

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  Andrew Dansker

  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.

  Dansker Capital Group

  CEO

  Andrew Dansker

  CEO

  Dansker Capital Group

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  Jack Conboy

  Jack Conboy is a Partner with the law firm of Windels Marx Lane & Mittendorf. He represents various financial institutions and real estate operators in connection with acquisitions, sales, financing and refinancing of commercial properties. He also counsels landlords and tenants in the leasing of commercial space. In addition, Mr. Conboy has experience in representing clients in the purchase and sale of residential real estate, including condominiums, cooperative apartments, and single and multi-family homes. Jack has been nominated to The Best Lawyers in America: Ones to Watch in the category of Banking & Finance Law, and has also been named to Super Lawyers - New York Metro Rising Star. He earned a JD from St. John’s University School of Law and a BA from Bucknell University.

  Windels Marx Lane & Mittendorf

  Partner

  Moderator

  Jack Conboy

  Partner

  Windels Marx Lane & Mittendorf

Acquisitions & Opportunities to Buy Distressed Assets

Most In-Demand Asset Classes, Top Geographies and Undervalued Properties

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  David Becker

  David Becker oversees all Equity Department personnel and capital market strategies including institutional equity, strategic joint ventures, family offices, tax exchanges, and a series of investment and debt funds offered throughout the Broker-Dealer financial advisory community to high-net-worth investors. With a distinguished, 25-year career in real estate, Mr. Becker has extensive acquisitions and asset management experience across a variety of asset classes (including residential, industrial, office, retail and student housing), with concentrations in the US, Caribbean, and Western European markets. Mr. Becker sits on a variety of TEl committees that serve to review company policies, evaluate new investment opportunities, develop long-term company strategy and plan for the continuity of TEI's legacy portfolio. Mr. Becker is also a partner in The Becker Organization, a family real estate office run by his brother, Bryan Becker. Mr. Becker graduated from Tulane University's A.B. Freeman School of Business with dual degrees in Finance and Accounting and holds securities licenses 22 and 63 with Time Equities Securities (TES).

  Time Equities

  Senior Managing Director, Head of Equity Strategy

  David Becker

  Senior Managing Director, Head of Equity Strategy

  Time Equities

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  Stuart Milstein

  Founder and Principal

  Drake Street Partners

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  D'Juan O'Donald

  D’Juan O’Donald’s career has spanned Commercial Real Estate, Distressed/Special Situations, Structured Finance, Institutional Investment Management and Capital Markets. D’Juan sits in JPMorgan’s Commercial & Investment Bank and currently spearheads a new platform to manage, and maximize value of, a national portfolio of large-scale, distressed and undervalued properties. Previously, D’Juan was responsible for investment strategy, acquisitions, redevelopments, and dispositions across JPMorgan’s balance sheet-owned real estate & REO portfolio ($20B). Prior to JPMC, he was sourced and executed equity, debt, and structured capital solutions ($2B) in the private market for institutional and middle market investors at Ackman Ziff. Before Ackman Ziff, he was employed by H/2 Capital Partners ($12B AUM international fund manager). While at H/2, D’Juan underwrote, managed, sourced, structured, and acquired CMBS, CDOs, senior mortgages, NPL’s, corporate loans, secondary equity fund LP interests and net-leased real estate, plus participated in investor relations activities. D’Juan began his career at LNR Property Corporation, a subsidiary of Starwood Property Trust, in the Real Estate Investment Management, Finance & Servicing Group, where he amassed a breadth and depth of experience by remaining active in every part of the economic cycle by rotating through each revenue generating business unit. Highlights include directly facilitating the acquisition of subordinate, unrated bonds from CMBS pools ($16B); distressed loan restructures/workouts ($500MM); assisting in the partnership formation with FinTech company Ten-X (f/k/a Auction.com) and evaluating B-Notes, mezzanine loans, REOs, NPLs, RPLs, distressed, special situation and other opportunistic real estate equity and high yield credit investments ($10B). D’Juan holds an M.B.A. from The University of Pennsylvania’s Wharton School (Finance & Management), is a CAIA charterholder and obtained a B.A. in Mathematics from Duke University. On campus, D’Juan competed on the Football and Track & Field teams and was a member of the Duke Investment Club. Subsequently, D’Juan was a professional athlete in the Arena Football League. As an active member of the community, D’Juan serves as a board member of the DowntownDC BID (on the Finance Committee), previously served on the Advisory Board of the Robert F. Kennedy Young Leaders (RFK Human Rights Center) and volunteered with the Duke Alumni Clubs of NY and South Florida.

  J.P. Morgan

  Executive Director, Commercial & Investment Bank

  D'Juan O'Donald

  Executive Director, Commercial & Investment Bank

  J.P. Morgan

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  Brian Flax

  Brian Flax currently serves as the Executive Vice President of Sales at Meridian Capital Group, where his main focus is overseeing broker performance and driving sales growth. His day-to-day responsibilities include managing the current mortgage brokers in Meridian’s New York office, as well as recruiting, onboarding, training, and managing new brokers within the firm. Brian created and continues to supervise the Meridian University sales training program, which has been highlighted by Bisnow and The Commercial Observer. On a daily basis, Brian works closely with the Meridian research and marketing departments to organize, oversee, and constantly improve a proactive approach to servicing existing clients and acquiring new clients. Additionally, he focuses on fostering cohesiveness among Meridian’s three divisions—debt capital markets, investment sales, and retail leasing—to improve client service and drive new business. In addition to his role as a sales manager, Brian helps develop and manage many of the firm’s lender relationships. Prior to joining Meridian in 2012, he spent nine years at Newtek Business Services Inc., a publicly traded consulting firm, where he held titles including Head of Sales, Chief Marketing Officer, and Senior Vice President of Operations.

  Meridian Capital

  Executive Vice President of Sales

  Brian Flax

  Executive Vice President of Sales

  Meridian Capital

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  Matthew Scoville

  Matthew is widely known for closing major deals in New York City and helping clients build real estate portfolios across the United States and beyond. A powerful negotiator who understands the legal and business issues on both sides of a transaction, Matt is respected by his clients, opposing counsel and other parties alike for his result-driven approach. This ability to shepherd complex transactions to a successful conclusion is evidenced by his impressive client list. As a partner in the firm’s capital finance and real estate practice, Matt cuts a wide swath across the real estate industry by advising owners, developers, investors and lenders, among them REITS, private equity funds and family offices, on a variety of transactions. These include construction and real estate finance, acquisitions and dispositions, joint ventures, real estate developments, preferred equity investments, mezzanine loan originations, and secondary market purchases, leasing, and loan workouts and restructurings. Well-connected in the real estate world, Matt looks to generate business for his clients by introducing them to potential partners and new deals. He is active in pro bono work and leads the coordination of the annual NALP/Street Law Legal Diversity Pipeline Program in New York, which brings high school seniors from The Urban Assembly School for Law & Justice into the firm to teach them about the law and legal careers, encourage them to enter the field and support them in their pursuits.

  Hunton Andrews Kurth

  Partner

  Matthew Scoville

  Partner

  Hunton Andrews Kurth

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  Christopher Gorman

  Christopher A. Gorman joined Rosenberg & Estis, P.C. in 2023 and is a Member with the firm’s Litigation Department. Gorman concentrates his practice in all phases of complex commercial litigation in State and Federal Courts. Gorman has litigated cases on behalf of corporations and individuals involving a variety of substantive areas of the law, including breach of contract, commercial and residential mortgage fore- closure actions, construction litigation, landlord-tenant litigation, partnership and shareholder disputes, bankruptcy litigation, estate litigation, employment and restrictive covenant disputes, RICO, trademark litigation, and a wide array of real estate-related litigation. Gorman also serves as outside general counsel to several start-up entities and other corporations providing advice to clients on all general corporate, mergers and acquisitions, contract and employment-related matters. Gorman has been designated as a New York Super Lawyer in Business Litigation since 2021, a distinction earned by only 5% of the lawyers in the NY metro area. Gorman was selected as a “New York Super Lawyers Rising Star” in the area of business litigation for the years 2013 through 2017. In 2016, Gorman was selected by the Long Island Business News as one of Long Island’s “40 Under 40” future business leaders of Long Island. Gorman is frequently called upon to lecture to the Bar on various matters. Recent presentations include a presentation made on behalf of the Nassau County Bar Association entitled “The Anatomy of a Mortgage Foreclosure Action,” a presentation made on behalf of the Construction Law Committee of the Nassau County Bar Association on New York State’s Prompt Payment Act, a presentation made on behalf of the New Jersey Law Journal entitled “Recent Developments in the Law Governing the Preservation of Electron- ically Stored Information,” as well as a program on behalf of the New York State Bar Association entitled “Debt Collection and the Enforcement of Money Judgments,” where Gorman’s presentation focused upon the ethical obligations of lawyers and others collecting consumer debts, including obli- gations imposed by the federal Fair Debt Collection Practices Act. Gorman also regularly publishes articles on matters of interest to the Bar. Articles that Gorman has authored have appeared in, among other publications, the New York Law Journal, Law360, Nassau Lawyer, and the Vermont Law Review. Prior to joining Rosenberg & Estis, Gorman was a Partner with Abrams Fensterman, LLP, where he served as the Director of the Real Estate and Construction Litigation Department.

  Rosenberg & Estis

  Member - Litigation

  Moderator

  Christopher Gorman

  Member - Litigation

  Rosenberg & Estis

Financing Construction Deals: Ground-up Projects, Conversions & Capital Improvements

Hear What Types of Developments are Attracting Capital

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  Russell Young

  EVP, Investment Management Group

  RXR

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  David Friedman

  David Friedman is Arbor’s Executive Vice President, Chief Credit Officer and Head of Non-Agency Production & Syndications. He joined Arbor in February 2022 as Executive Vice President responsible for leading Arbor’s loan-syndicated lending platform tasked with the development of its strategic partnerships for loan origination and establishing access to new sources of capital, as well as managing and growing existing relationships to fund Arbor’s business needs. In May 2024, David was given expanded responsibilities and named as Chief Credit Officer and Head of Non-Agency Production & Syndications. As Chief Credit Officer, David sets go-forward credit policy for all lines of business, excluding Agency, and has day-to-day responsibility, oversight, and decision-making authority over Arbor’s credit function and process for new originations on Structured Finance, Residential Financing (SFR and BTR), and Non-Agency Lending and Investments platforms. As Head of Non-Agency Production & Syndications, David has oversight and responsibility for: Arbor Private Label (APL), Arbor Private Investment (API), Arbor Private Construction (APC), Mezzanine Debt Lending and Preferred Equity Investments. In addition to those responsibilities, David continues to lead the firm’s direction in syndicated and capital markets and mortgage-related fund formation efforts. Bringing over two decades of experience in commercial real estate lending, origination, credit, and directing syndication efforts at institutional groups, David is adept at successfully establishing and managing multiple programs. Prior to Arbor, he held leadership roles at financial powerhouses such as Greystone, TD Bank, Bank of America Merrill Lynch, and PNC Bank. David holds a Master of Science in Real Estate Finance & Investment from NYU Schack Institute of Real Estate, as well as a Bachelor of Science in Business Administration from Babson College.

  Arbor Realty Trust

  EVP, Chief Credit Officer

  David Friedman

  EVP, Chief Credit Officer

  Arbor Realty Trust

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  Aaron Krawitz

  For over 15 years, Aaron Krawitz has overseen a number of the most sophisticated real estate transactions in the nation. Mr. Krawitz is the Founder and Chief Executive Officer of Bravo Capital. He sits on its Management Committee and its Credit Committee. Mr. Krawitz was formerly the President at Dwight Capital and previously held various positions at Gibson Dunn and Skadden Arps. Mr. Krawitz received a BA from the University of Pennsylvania (with honors), and a JD from Michigan Law School (Michigan Law Review).

  Bravo Capital

  Founder & CEO

  Aaron Krawitz

  Founder & CEO

  Bravo Capital

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  Max Herzog

  Executive Managing Director

  IPA

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  Chris Lawton

  Chris Lawton is Managing Director, Head of Originations for Nuveen Green Capital – a leading provider of sustainable commercial real estate finance. With over 20 years of experience in commercial real estate structured finance, Chris leads NGC’s growth and originations strategies – with focus on C-PACE (Commercial Property Assessed Clean Energy) deal structuring and lending. Prior to NGC, Chris was with Bank OZK (formerly Bank of the Ozarks), where he was Managing Director of Northeast Originations for the bank’s Real Estate Specialties Group in New York City. In his time with Bank OZK, Chris closed over $8 billion of construction and bridge facilities, formed the bank’s life-science lending program, and built the bank’s loan portfolio in Boston and Philadelphia. Before joining Bank OZK, Chris was a Director in the New York office of Frankfurt, Germany-based DekaBank, where, in 2009, he helped establish the bank’s first U.S. office. From 2004 to 2009, he was with Hypo Real Estate Capital where he originated, structured, and closed over $4 billion of senior and mezzanine commercial real estate financings. Chris began his real estate career in 2003 as an Analyst with CBRE Capital Markets. Chris graduated with a B.S in Business from Miami University and an M.S. in Real Estate from New York University.

  Nuveen Green Capital

  Managing Director

  Chris Lawton

  Managing Director

  Nuveen Green Capital

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  Ilya Leyvi

  Ilya Leyvi chairs Adler & Stachenfeld’s Real Estate Finance Practice, where he facilitates some of the largest and most complex commercial real estate debt deals in the U.S. and internationally. Recognized as an astute and approachable counsel, Mr. Leyvi represents lenders and borrowers with bridge loans, construction loans, mezzanine loans, commercial mortgage-backed securities loans, and preferred equity investments involving industrial, hotel, multi-family, self-storage, and specialty properties. As a practice leader, he is responsible for structuring and executing complicated commercial real estate debt platforms and arrangements for lenders, as well as borrowers, and identifying growth opportunities for his clients. Mr. Leyvi excels in this regard in part through his collaborative approach by working closely with his clients and their deal counterparts. He ensures that all parties walk away knowing their positions are heard and carefully considered – ultimately enabling him to make highly intricate structured transactions move forward seamlessly.

  Adler & Stachenfeld

  Partner

  Moderator

  Ilya Leyvi

  Partner

  Adler & Stachenfeld

GP & LP Partnerships: Who is Looking for What, Where & Why?

Equity, Debt, GP's & Other Capital Sources

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  Peter Lewis

  Mr. Lewis is Chairman and founder of Wharton Industrial, a fully integrated investor and developer of last mile, urban infill and larger distribution facilities located along the Eastern Seaboard, Florida and the Southeast United States. Wharton Industrial is a platform company of New York-based real estate investment firm, Wharton Equity Partners, which Mr. Lewis founded in 1987. In forming Wharton Industrial in 2017, Mr. Lewis sought to capitalize on the secular change in industrial real estate brought on by the emergence of e-commerce. Since that time, Wharton Industrial has acquired and developed over 4.5 million SF of warehouses. Notable transactions include the development of a 988,000-SF bulk distribution facility in Atlanta, GA which was leased to Phillips van Heusen before completion; the acquisition of a 283,500-SF former subway repair facility in Philadelphia, which was completely renovated into a last-mile distribution center, leased to Amazon and sold in November 2020; and the development of a 617,000-SF bulk distribution warehouse located in Ocala, FL, which was leased to Amazon and sold to a REIT at the highest per-square-foot price ever achieved in the market in June 2020. Wharton Industrial’s growth has been fueled by joint ventures with such firms as Starwood Capital, Carlyle and Walton Street Capital. Wharton Industrial’s market leadership and forward-thinking approach flows from that of its parent company, Wharton Equity Partners. Over the course of the last three decades, Mr. Lewis has been the visionary force behind shaping Wharton Equity’s prowess as an opportunistic investor that has consistently been ahead of the curve in making large bets on emerging real estate trends in industrial, multi-family, self-storage and other asset classes. Over his career, Mr. Lewis has been involved in well over $2 billion of real estate transactions. In addition, Mr. Lewis and Wharton Equity are active venture capital investors with a focus on later-stage growth companies. The firm’s current holdings include positions in Dataminr and Latch. Mr. Lewis received his BS in Economics from the Wharton School at the University of Pennsylvania and his MBA from Columbia University’s Graduate School of Business. He is a sought-after industry speaker and a frequent guest lecturer at Columbia Business School on the topic of “The Future of Real Estate.” Mr. Lewis resides in Old Westbury, Long Island with his wife and three children.

  Wharton Equity Partners

  Chairman & President

  Peter Lewis

  Chairman & President

  Wharton Equity Partners

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  Ron Dalal

  Partner

  Declaration Partners

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  Marion Jones

  Marion Jones is a Principal and Executive Managing Director of U.S. Capital Markets at Avison Young, based in the firm’s Manhattan office. In her role, Marion spearheads the firm’s capital markets strategy, driving strategic growth, expanding market share, and positioning Avison Young for continued success in both domestic and global markets. Through her dynamic leadership, she is committed to deepening the firm’s capital markets footprint across the U.S., enhancing client relationships, and fostering a collaborative environment that ensures client-focused solutions. Marion’s emphasis on cross-functional communication and teamwork empowers her to deliver exceptional results grounded in a comprehensive understanding of market trends, data-driven technology, and industry connectivity. With over 20 years of experience in commercial real estate—spanning debt and equity, sales, market expansion, and team-building—Marion has closed more than $9 billion in transactions. Her strategic expertise is recognized across both middle-market and institutional sectors, where she has earned a reputation as a trusted advisor, known for her ability to drive impactful market positioning and solve complex challenges with innovative, interdisciplinary approaches. Marion’s leadership is characterized by a commitment to advancing our clients’ objectives, as well as championing the growth and development of her team. As a member of Avison Young’s U.S. Executive Committee, Marion works closely with the U.S. Capital Markets Executive Committee to ensure strategic alignment and foster a unified vision for the firm’s success. Her credentials also include licenses as a broker in New York and Connecticut. Marion’s previous leadership experience as Managing Director of Capital Markets at JLL, as well as her roles at Ackman-Ziff, Eastern Consolidated, and CBRE, further solidify her as a highly regarded thought leader and key influencer in the commercial real estate industry. She is an active member of Urban Land Institute and WX (Women Executive in NY Real Estate). She has taught at the graduate level at Fordham University’s Real Estate Institute and been recognized with several industry awards. Marion is deeply involved in her community of Westport CT, serving on the Affordable Housing Advisory Board of Homes with Hope, a local affordable housing non-profit as well as volunteering in her local parish and at the Westport Public Library.

  Avison Young

  Principal and Executive Managing Director

  Marion Jones

  Principal and Executive Managing Director

  Avison Young

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  Tom Lesnick

  Tom Lesnick is a corporate finance, real estate, and capital markets professional with deep expertise in navigating complex transactions and guiding executives through pivotal strategic and investment decisions. His efforts have facilitated the raising of over $25 billion in institutional capital for a diverse real estate clientele, ranging from large, public REITs to private, closely held sponsors across all property types. Before establishing Admiral Real Estate Advisors, Tom served in Truist’s Real Estate Corporate and Investment Banking group, focusing on REIT investment banking and private capital advisory. His prior roles include positions in investment banking and equity research at Baird, D.A. Davidson, and Capital One, where as a Director and Senior Equity Research Analyst he led coverage of Apartment, Industrial, Office, and Student Housing REITs. Tom earned a BBA from Emory University’s Goizueta Business School, graduating with Honors in Finance. Additionally, he holds the Chartered Financial Analyst designation and Series 7, 63, 79, 86, and 87 registrations with FINRA. He currently lives in Atlanta, GA with his wife and two sons.

  Admiral Real Estate Advisors

  Managing Partner

  Tom Lesnick

  Managing Partner

  Admiral Real Estate Advisors

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  Jason Weissman

  Jason S. Weisman was born in Boston, MA. He attended Newton South High School, graduated from Curry College in three years and received an MBA from Babson College. While attending university, Jason began his career in real estate working for a local brokerage company and that is where he fell in love with the built environment and the art of the deal. Mr. Weissman founded Boston Realty Advisors in 2001. At the time, Jason was a pioneer, one of the first in the industry to embrace the live-work-play model, now known as “mixed-use”. He launched the firm with multiple service lines under one roof – created leadership roles for multifamily, office, retail, hospitality and user housing – and became the largest, independent real estate services firm in New England. Mr. Weissman manages the investment sales and capital markets platform, with an owner-aligned philosophy. He represents some of the most distinguished investors on strategic real estate matters, having transacted millions of square feet worth billions of dollars throughout his career. Mr. Weissman is an industry thought leader and enjoys a reputation of being creative and an out-of-the-box thinker. He regularly appears in local and industry publications, is a part of the Forbes Real Estate Council and has been a guest speaker at Harvard, MIT and Suffolk University. Jason advocates to preserve the authenticity of Boston, while also ensuring its growth as a leading city of global innovation. He is the founder of The Broadway Company, a real estate investment company with over 60 investment properties in North America and is an active member of numerous organizations including the International Council of Shopping Centers (ICSC). Mr. Weissman’s advises on the largest transformative projects in Boston; from concept through delivery. His dedication to Boston extends to multiple special cause issues and organizations including Boston Children’s Hospital and Combined Jewish Philanthropies. He is an avid runner and a foreign film buff, including credited as executive producer for multiple films. He and his wife reside in South Boston.

  The Broadway Company

  Founder

  Jason Weissman

  Founder

  The Broadway Company

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  Christopher Terry

  Chris Terry is a partner in the Real Estate Practice Group of Kleinberg Kaplan. He advises a diverse group of clients, including investors, owners, operators, developers, lenders and borrowers, in the areas of real estate and real estate finance law, including joint venture transactions, real estate development, sales and acquisitions, financing, leasing and real estate private equity across the continental United States and Hawaii. He has particular experience in medical office and healthcare development. Chris is a member of the inaugural Rising Leaders Council (“RLC”) of Revista. In his role on the RLC, Chris, alongside other selected leaders across the healthcare real estate industry, acts as a resource to the Revista Advisory Board and Executive Team. As the sole legal advisor on the council, Chris offers a strong and diverse perspective as it relates to investments, best practices and industry trends.

  Kleinberg, Kaplan, Wolff & Cohen, P.C.

  Partner

  Moderator

  Christopher Terry

  Partner

  Kleinberg, Kaplan, Wolff & Cohen, P.C.

Debt: Lending on Deals Amidst Changing Rates & Evolving Lending Sources

Banks, Debt Funds, Other Lending Sources-- Rates, Risk and Assessing Returns

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  Stephanie Wiggins

  Stephanie Wiggins is managing director and head of production for Agency and FHA Lending with PGIM Real Estate. Based in Arlington, Virginia, she leads loan originations for Fannie Mae, Freddie Mac, Affordable and FHA multifamily loans, and focuses on the development of strategic initiatives that serve to expand business opportunities and facilitate growth. Stephanie is a highly accomplished and recognized senior leader, with over 35 years of demonstrable success in commercial real estate financial services, having overseen the origination of thousands of transactions nationwide. In addition, Stephanie is deeply committed to the creation and preservation of affordable housing, as well as the promotion of a more inclusive Commercial Real Estate Finance industry. She is a frequent participant in forums and panels sponsored by industry associations and agencies that focus on these important issues. Prior to joining the company in 2021, Stephanie served as senior vice president and chief production officer for the FHA team at Walker and Dunlop. She also served a 19-year tenure as executive vice president and chief investment officer for AFL-CIO Housing Investment Trust, a socially responsible fixed-income investment fund where she managed multifamily originations and operations with a focus on FHA and Agency executions. Stephanie serves as a board member of the National Housing & Rehabilitation Association, a professional association of affordable housing and multifamily owners, developers, and professionals. She also holds key roles within several industry associations, including memberships in the National Multifamily Housing Council (NMHC) Finance Committee, NMHC’s DEI Subcommittee; Urban Land Institute’s (ULI’s) Public Private Partnership Council, ULI’s Women’s Leadership Initiative; Mortgage Bankers Association’s COMBOG Council, and MBA’s Commercial Council as Chair; Freddie Mac’s Head of Production Council and the Real Estate Executive Council (REEC). Within PGIM, Stephanie serves as a member of the US Debt Executive Council. Stephanie also serves as chair for the board of directors for The Campagna Center, a nonprofit organization that provides educational and social development programs for underserved children, teens and adults in Alexandria, Virginia. Stephanie earned a bachelor’s degree in business administration from American University’s Kogod School of Business, where she studied real estate and urban development.

  PGIM Real Estate

  Head of Production, Agency Lending

  Stephanie Wiggins

  Head of Production, Agency Lending

  PGIM Real Estate

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  David Hochfelder

  As Chief Investment Officer atThe Naftali Group, David oversees the company’s acquisitions group and is responsible for the sourcing, structuring and execution of the firm’s investments. Previously, David was Director of Acquisitions at RFR Holding, where he was instrumental in executing more than $2.5 billion of property acquisitions and credit investments encompassing over 3.5 million square feet of assets across the office, residential, retail and hotel sectors. Prior to RFR David worked at The City Investment Fund, a real estate private equity fund, where he was responsible for underwriting and executing the fund’s acquisitions. David began his career at The Lightstone Group as a financial analyst supporting the firm’s nationwide property and credit investments. David graduated cum laude from the University of Pennsylvania with a B.A. in Philosophy, and completed an MBA at Columbia Business School and an M.S. in Real Estate from New York University.

  Naftali Group

  CIO

  David Hochfelder

  CIO

  Naftali Group

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  Robbie Pinkas

  Robbie Pinkas joined PLG in 2024 as Senior Vice President of Originations. He brings over 15 years of experience to the role, including three years leading transaction execution and program authority relationships at North Bridge, a C-PACE lender. At PLG, Robbie is responsible for loan origination, loan underwriting, and portfolio monitoring. Prior to PLG, he worked in progressively senior roles at Credit Suisse, Google, Douglaston Development, and The Collective, a London-based co-living company. Robbie graduated from Harvard University with an AB in History, cum laude.

  Pace Loan Group

  SVP

  Robbie Pinkas

  SVP

  Pace Loan Group

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  Charles Rigoglioso

  Charles Rigoglioso is a Senior Director in the New York City and New Jersey offices. He has been a commercial real estate finance professional since 2012 and is primarily responsible for the origination and placement of both debt and structured finance transactions for all property types throughout the U.S. Throughout his career, Mr. Rigoglioso has utilized his prior lending experience to provide creative financing structures and capital placements for his clients. He has participated in originating, underwriting, and processing in excess of $10 billion of debt, equity, and mezzanine loan transactions. Prior to joining Berkadia in April of 2018, Charles was Senior Multifamily Policy Analyst at the Federal Housing Financing Agency (FHFA), a Washington D.C. regulator of Fannie Mae and Freddie Mac. Prior to FHFA, Mr. Rigoglioso was a director at Berkely Point Capital (now Newmark), specializing in debt and equity placements. The genesis of Mr. Rigoglioso’ real estate career started at Prudential (PGIM Real Estate), responsible for underwriting and closing structured real estate debt secured by commercial properties.

  Berkadia

  Senior Director

  Charles Rigoglioso

  Senior Director

  Berkadia

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  Edward James (E.J.) Edelman

  E.J. Edelman provides portfolio valuations, real estate appraisals, business valuations, and financial consulting/reporting services related to acquisition, mortgage, estate, ad valorem tax, condemnation, litigation, and other purposes. He leads the national audit valuation group which includes review services for valuations of real estate, complex financial instruments, and businesses.

  CohnReznick

  Partner

  Edward James (E.J.) Edelman

  Partner

  CohnReznick

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  John Rickert

  John’s diverse real estate background includes extensive property management experience with central business district class A office high rise, industrial, office/flex, retail, suburban office, and public facilities management. In addition to his property management background, John has distinguished himself in all aspects of tenant improvement and building construction. John has worked for such industry leaders as Hines Interests, Cabot Industrial Trust (now Cabot Properties) and CB Richard Ellis. John received his Bachelor of Arts in Economics and Political Science at the University of Richmond. John is a graduate of Culver Military Academy and a former United States Army Officer and helicopter pilot. EXPERIENCE: Principal and Founder - Cincinnati, Ohio 2001 to Present RICORE INVESTMENT MANAGEMENT, INC. GENERAL CONTRACTING PARTNERS, LLC. RICORE INVESTMENT MANAGEMENT SPECIAL ASSETS, LLC. Vice President and Midwest/West Regional Director Cabot Industrial Trust Cincinnati, Ohio 1998 –December 2001 Vice President and Director Commercial/CB Richard Ellis Cincinnati, Ohio 1994 – 1998 AFFILIATIONS • Former Chairman, Deerfield, Ohio Township Trustee Advisory Board • Former Board of Zoning Appeals Commissioner, Deerfield Township • Founder & Former President, Cincinnati Chapter – Culver Alumni Association • Member Building Owners and Managers Association (BOMA) • Member Institute of Real Estate Management • Certified Commercial Investment Member (CCIM) EDUCATION • United States Army Flight Training Academy, Fort Rucker, Alabama, 1988 • University of Richmond, Richmond, VA, 1987 - BA, Economics • Culver Military Academy, Culver, Indiana, 1983 - Cum Laude • Active Real Estate Broker’s License, Ohio – 2003 to present • Active Real Estate Broker’s License, Kentucky – 2009 to present

  Lee & Associates | Cincinnati

  Principal & Founder

  Moderator

  John Rickert

  Principal & Founder

  Lee & Associates | Cincinnati

Evolving Capital Stack: How to Structure Deals & Quantify Returns

The Latest on Structuring Deals & What This Means for Payouts and Waterfalls

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  Adam Gibbons

  Co-Head, Chief Investment Officer

  GID Credit

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  Jason Hernandez

  Jason leads the originations platform in the Americas for Nuveen Real Estate and is focused on further expanding the firm’s third-party real estate debt business. Prior to joining the business in 2018, Jason was a managing director at ACORE Capital where he led a team responsible for the sourcing and execution of structured finance investments, including mortgage, mezzanine and preferred equity. As one of the initial employees of ACORE, he helped grow the firm from a start-up, to one of the largest private lenders in the United States, with $9 billion AUM in just under three years. Jason has also held a number of roles at GE Capital Real Estate. Most recently he was a senior director in the strategic capital group focused on whole loan origination with institutional clients. Jason graduated with a B.S. from Illinois State University and an M.B.A. from The Wharton School. He is a graduate of the GE Capital Financial Management Programme with roles including finance, underwriting and M&A and is a member of Commercial Real Estate Finance Council.

  Nuveen Real Estate

  Head of Real Estate Debt, Americas

  Jason Hernandez

  Head of Real Estate Debt, Americas

  Nuveen Real Estate

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  Anthony Ledesma

  Anthony Ledesma is the Founding Partner of DIA Capital Group. With nearly 20 years of experience and a career spanning over $40 billion in commercial real estate transactions, Anthony brings deep industry expertise across both advisory and principal investment roles. Before founding DIA Capital Group, Anthony was a Managing Director and Co-Head at Hodges Ward Elliott (HWE), where he played a key role in expanding the platform beyond New York and into new verticals. Prior to HWE, he served as Managing Director and Co-Head of JLL’s New York Institutional Investment Sales team, where he became the youngest professional ever promoted to MD at that level within the firm. Over the course of his career, Anthony has led landmark transactions, including 550 Madison Avenue / Sony Building (Office – $1.4 billion), 5 Bryant Park (Office – $640 million), Tower 56 (Office Recapitalization – $275 million), The Cole (Multifamily – $130 million), and 156 East 56th Street (Land – $104 million). He began his career at CBRE’s Institutional Properties Group, executing both buy-side and sell-side mandates for institutional clients. On the principal investing side, Anthony has also held senior leadership roles, including Head of Investments at Wolf Realty, where he oversaw an 86-property multifamily portfolio across the tri-state area. He holds a B.S. from the University of Pennsylvania and is a frequent guest lecturer for the David Hirsch Fellows Program at NYU. Anthony lives in New York with his wife, Danielle, and their two children, Isabella and Antonio.

  DIA Capital Group

  Founding Partner

  Anthony Ledesma

  Founding Partner

  DIA Capital Group

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  Drew Fletcher

  Drew Fletcher is head of Greystone Capital Advisors where he oversees a team of professionals responsible for arranging creative debt and equity solutions for institutional and private commercial property owners and developers, and provides strategic advisory services for institutions, investors and borrowers. GCA also focuses on large loan mortgage origination across Greystone’s Fannie Mae, Freddie Mac, FHA, CMBS, Bridge, balance-sheet and special situation lending platforms. Drew has over 20 years of commercial real estate experience, having directly originated and executed on more than $10 billion of financing transactions. Prior to joining Greystone in 2013, Drew was the Chief Financial Officer of Edison Properties LLC, one of the largest private real estate owners in New York City, with a $5 billion diversified portfolio of self-storage, office, multifamily and substantial land holdings throughout the NY Metro Region. Drew received a B.A. in Economics and Communications from Wake Forest University; an M.B.A. in Finance from New York University; and a Master of Accountancy in Taxation from Rutgers University. He volunteers his time as a guest lecturer at the NYU Real Estate Institute and also is an active member of the Real Estate Board of New York and the Urban Land Institute. Drew also was named to the Commercial Observer’s 50 Most Powerful People in Commercial Real Estate Finance in 2018.

  Greystone Capital Advisors

  President

  Drew Fletcher

  President

  Greystone Capital Advisors

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  Brian Murray

  Partner, Head of Americas

  Clifton Blake Asset Management

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  Ryan Moore

  Ryan is a director in Citrin Cooperman’s Business Process Outsourcing (BPO) Practice based out of the New York City office focusing on real estate clients and specializing in providing ongoing finance operations, decision support, and special finance projects to middle-market companies. Ryan’s experience includes many different asset classes including multifamily, mixed-use, office, triple-net, retail, hospitality, and storage facilities. Ryan is the Chair of the firm’s Advisory Growth Committee and a member of the firm’s Real Estate Committee. Ryan joined Citrin Cooperman in September 2021 after working as a director of accounting for a private equity real estate firm based in New York City.

  Citrin Cooperman

  Director

  Moderator

  Ryan Moore

  Director

  Citrin Cooperman