Trends and Opportunities in Commercial Real Estate Lending and Investment
Event Chair: Matti von Turk, CFA
CFASF Continuing Education Committee
Join us for this excellent presentation on trends and opportunities in the Commercial Real Estate (CRE) lending and investment business from two market leaders. Ken Miller, President of Guardian Capital Advisors, Inc., a private CRE lender, will review the current, robust, CRE lending market and will focus on the private CRE lending business including an in-depth look at, loan structures, risk and return, opportunities, and outlook for the industry. John Williams, President and Chief Investment Officer of Avanath Capital, a boutique real estate investment firm, will discuss real estate private equity investment within the affordable multifamily housing, urban real estate, and commercial/multifamily mortgage sectors.
About the speakers:
Kenneth A. Miller is President of Guardian Capital Advisors, Inc., a private real estate lender and debt advisory firm. Ken has been advising capital providers on the placement, valuation, structuring, restructuring, and liquidation of mortgage assets for the last decade. As a prominent professional in the commercial real estate industry in the Bay Area, Ken is called on frequently to assess challenges and opportunities tied to commercial real estate loans of all stripes. Whether arranging DIP financing, evaluating complex CMBS interests, valuing straightforward existing bank loans, or navigating the thorny legal issues which often dictate the outcomes of private real estate loan defaults, Ken and his team identify the drivers of value for their clients. Ken’s academic studies include a Masters in Economics from the University of San Francisco and the Chartered Financial Analyst exams. Ken also holds a B.S. in Finance from Arizona State University and California Real Estate Broker’s license.
John R. Williams is President and Chief Investment Officer of Avanath Capital, an investment manager of real estate and real estate-related investments, based in Irvine, California. Avanath focuses on generating attractive risk-adjusted returns through current income and capital appreciation from its investments in the Affordable/Workforce Housing, and Urban Multifamily market sector. Over the past 30 months, Avanath has raised over $300 million of institutional capital, derived primarily from Endowments, Pension Funds, Foundations, Banks and Life Insurance Companies. During this period, Avanath has acquired in excess of $500 million in Affordable/Workforce apartment communities nationwide (26 assets/4,486 units). As President and Chief Investment Officer John R. Williams is responsible for capital formation, investor relations and fund management.
Previous to joining Avanath in 2012, Mr. Williams was Managing Partner, Capital Markets of Carmel Partners, Inc. (“Carmel Partners”), a real estate development and investment firm based in San Francisco, California. At Carmel Partners, Mr. Williams was responsible for capital formation, fund management, investor relations, joint ventures, credit facilities and financing of all Carmel Partners investments. Mr. Williams was also a member of Carmel Partners’ Senior Investment Committee. Under Mr. Williams’ direction, Carmel Partners raised over $4.0 billion of debt and closed four discretionary real estate investment funds with total equity of $2.2 billion. Capital for these funds was provided by some of the nation’s most prestigious university endowments, foundations and high net worth individuals. Prior to joining Carmel Partners in 2000, Mr. Williams was a Partner and Director at Acacia Capital Corporation (“Acacia”). In this capacity, Mr. Williams was responsible for capital formation and the identification, acquisition and financing of multi-family and commercial properties. Acacia managed investment capital totaling $500 million. These funds were raised primarily from university endowments and high net worth individuals. Acacia’s multi-family and commercial portfolio included interests in approximately 9,300 apartment units and 2.3 million square feet of industrial and commercial space, having an asset value of over $700 million.
A native of Philadelphia, Mr. Williams received his BS degree in finance from Duquesne University in 1980 and attended the Executive Education Program at the Harvard University Graduate School of Design. Mr. Williams is a Governor of the Urban Land Institute (“ULI”), Chairman of the ULI Silver Multi-Family Council, a member of the Executive Committee of the National Multi Housing Council (“NMHC”), a Fellow of the Aspen Institute and is on the Board of Directors of the Aspen/Snowmass Jazz Festivals. He is a frequent speaker at national real estate conferences sponsored by the ULI, Harvard Business School, University of California-Berkeley, Stanford Business School, UCLA Real Estate Forum, USC Lusk Graduate School of Real Estate, Duquesne University, the California Bar Association, Pension Real Estate Association (“PREA”), California Association for Economic Development, the California Mortgage Bankers Association and the Lambda Alpha Honorary Real Estate Society.
Moderated by: Joseph Ori, CFA
Executive Managing Editor, Paramount Capital Corporation
Retired & Student Members: $22.50
Price includes buffet lunch.
11:45am until 1:30pm
11:45 Registration and Lunch
12:00 First Presentation
12:30 Second Presentation
1:00 Audience Q&A
The City Club of San Francisco (155 Sansome)
This event qualifies for 1 hour of continuing education credit for CFA Charterholders.
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