Cornell CMBS retrospective to shed light on the industry

Apr 22, 2014

The Center for Real Estate and Finance at the Cornell School of Hotel Administration will present “Commercial Mortgage-Backed Securities (CMBS): A Retrospective” at The Pierre in New York City, April 24, 2014, 8:00-11:30 a.m. The event—which is open to the public and includes a networking breakfast—will feature a panel of real-estate icons who pioneered the CMBS industry. This uniquely qualified panel will provide their broad perspectives on CMBS, its current challenges, and future opportunities. Register here to attend. Regular registration is $100; registration for Cornell alumni is $75.

The CMBS sector is a major source of mortgage funding for commercial real estate. Since it was established, the CMBS sector has undergone substantial changes and endured two major disruptions—during the Russian default in 1998 and the market collapse of 2008. Though many in the industry are cautiously optimistic, there is still considerable uncertainty about CMBS's viability. Everyone in commercial real estate must be ready to adapt to future changes in the CMBS sector.

“Given the market’s maturity, history, and current challenges, the time has never been more appropriate for an analysis of the status and prospects for the CMBS market. We’ve assembled a diverse group of industry icons who were instrumental in creating the CMBS market,” said Dan Quan, professor of real estate and academic director of the Center for Real Estate and Finance. “Attendees will hear unique industry perspectives and learn how they can be ready for future opportunities and risks.”

Our panelists were instrumental in creating the CMBS market—packaging the deals, purchasing the bonds, and rating the securities:

•    Dean Adler, CEO and co-founder,  Lubert-Adler Partners, LP

•    Mark Finerman, president, LoanCore Capital, and CEO, Jefferies LoanCore

•    Joseph Franzetti, senior vice president, Berkadia Commercial Mortgage LLC

•    Ethan Penner, a recognized pioneer in the fields of real estate and finance, specializing in both real estate and mortgage credit and financial markets

•    Mark Snyderman, portfolio manager, Fidelity Management & Research Company

Sawyer Realty Holdings LLC is sponsoring the event. If you have questions or would like to partner with Cornell on this event, contact Melissa Carlisle at mlp1@cornell.edu.