Finance for Property Investment and Development - From whom? For what? On what Terms?

08:30 Breakfast, Registration and Pre-Conference Networking

Enjoy breakfast bites and refreshments and meet your fellow delegates and speakers.

09:00 Chair’s Welcome and Introductory Remarks

Hear from the Chair, who will introduce key themes and learning points for the morning sessions.

Francisca Sepúlveda, Finance Partner, Addleshaw Goddard LLP

09:10 Real Estate Finance: State of the Market

Understanding ‘The Big Picture’: likely trends and the implications for decision-making today. Covering:

• What is happening to the availability and cost of credit.
• How lenders are dealing with stress in their existing loan book.
• Financing construction, transitional assets, and climate transition.
• Regulatory drivers shaping the outlook for lender behaviours and the lending market structure.

Peter Cosmetatos, Chief Executive, CREFC Europe

09:35 Residential Investment and Development I

Covering:

• The best living sector assets to invest in right now.
• The key hallmarks of a good living sector investment.
• Planning and other laws – aligning the public and private interests.
• The influence of ESG metrics on transactions.

Nada Jarnaz, Director, Deal Origination, Maslow Capital

10:00 Residential Investment and Development II

The panel analyses in detail:

• The financing market – who, how, and on what terms.
• The buying market – how far land prices have adjusted to the new reality.
• The development market – exploring the levels of challenge in building and profitability.

Moderator: Arthur Jennings, Managing Director, Cain International

Panellists include:

Lee Francis, Head of Origination, Capital Rise

Katy Warrick, Head of London Residential Development Research, Savills

Uliana Kuzmis, Deputy Managing Director, Development Finance, Hampshire Trust Bank

Louise Wyman, Head of UK Public Sector, CBRE

10:45 Morning Refreshments and Networking

A chance to recharge and network with the speakers and your fellow attendees.

11:05 Commercial Investment and Development I: Offices, Repurposing and Mixed Use

Dexter Moren, Founder and Partner at Studio Moren, addresses “Long Covid” – i.e., the long-term impact of Covid on cities and Office Real Estate – and the nature, extent, and scale of the challenge. An analysis of how the industry is responding to recover, protect and enhance values. Covering:

• The Hospitality Cure: harnessing hospitality options across a raft of alternative uses, including offices, hotels and PBSA.
• Lifestyle cities: “Destination City” and mixed-use initiatives – the opportunities this thinking creates and how to take them.
• Dynamos vs dinosaurs: UK Planning lack of vision, segregation myths, hopes for the future, and what can be done now.
• Embodied carbon and sustainability: the impossibility of demolition and focus on creative re-use – the problems it creates and the opportunities it generates.
• Fit-for-use: physical constraints needing appraisal and solutions that work.
• It’s all been done before: reassuring investors that nothing is ever entirely new, risks are controllable, and the result is well worth the effort.

Dexter Moren, Founder & Partner, Studio Moren

11:30 Commercial Investment and Development II: Industrial and Logistics

Covering:

• The types of debt available in the industrial-logistics sector.
• How debt markets are evolving: what we are seeing now, recent changes and likely future directions.
• Macro factors and trends.
• Variation due to sponsors/borrowers, locations, and scheme sizes (mid box/big box).
• Reconciling short-term and long-term market views.

Nikos Yerolemou-Ennsgraber, Director, Cain International

11:55 Property Politics in an Election Year

A discussion on the impacts of this year’s general election.

• How politics has affected property over the past three years.
• How the property sector is engaging with policymakers ahead of the election.
• What the main parties are saying about property.
• What the property sector can expect from a new government.

Ion Fletcher, Director of Finance and Commercial Policy, British Property Federation

12:20 Lunch Break

Join fellow speakers and attendees for full catering and conversations.

13:35 Afternoon Chair’s Welcome and Remarks

Hear from the Chair, who will introduce key themes and learning points for the afternoon sessions.

Francisca Sepúlveda, Finance Partner, Addleshaw Goddard LLP

13:45 Joint Ventures and Mezzanine Finance: Sources, Terms and Structures

Steven Oliver, COO at Peritus Corporate Finance, analyses transactions in the current market and reviews what’s possible with senior debt, mezzanine and equity. Covering:

• Capital stacks and outline pricing.
• Mezzanine: how it works and what the security looks like.
• Equity: how it works, security explained, hybrid structures (including preferred equity), and alternative capital raising strategies.
• The rise of Stretch Senior and Whole Loans (senior debt and mezzanine in a single structure).
• The impact of interest rate changes.
• The use of mezzanine and equity for re-capitalisation and to address the refinance gap.

Steven Oliver, Chief Operating Officer, Peritus Corporate Finance

14:10 Tax on Property: Risks and Opportunities

Prasam Patel and Steve Smith, Managing Directors at Alvarez & Marsal, analyse how taxes are currently applied to real estate investments, highlighting what to do and why. Covering:

• The evolving tax landscape.
• Interest restrictions – paying tax even when there is no profit.
• Offshore structures.
• Tax on lending.
• Capital allowances.
• Where next?

Prasam Patel, Managing Director, Alvarez & Marsal
Steve Smith, Managing Director – Capital Allowances, Alvarez & Marsal

14:35 Climate Risk and its Influence on Investment and Development in Real Estate

Covering:

• Context and market/regulatory landscape.
• Emerging trends in climate related risk.
• Challenges and opportunities for Real Estate.
• Anticipated developments.

Will Bruce, Global Head, Climate Risk Consulting, AON

15:00 Operational Real Estate

A discussion on lending and finance for hotels, student accommodation, education, healthcare facilities and more. 

Moderator: Neil McGibbon, Partner, Real Estate Finance, Addleshaw Goddard LLP

Panellists include:

Priya Harley, Director of Debt Finance, OakNorth Bank

Svetlana Stankevich-Smith, Valuation, Development, Hotel Lending, Mizrahi Tefahot Bank

Andrew Heath, Senior Vice President - Head of Operator Selection UK & Ireland, JLL

Adam Thompson, Director, Primary Care Surveyors

Rhiannon Klein, Senior Associate, Gerald Eve

15:45 Post-Conference Networking

A final chance to recharge and network with the speakers and your fellow attendees.

16:30 Close of Conference