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KBRA Releases CREFC Summit-West: Day 1 Recap

May 8, 2019

NEW YORK--(BUSINESS WIRE)--May 8, 2019--Kroll Bond Rating Agency (KBRA) was among the approximately 240 attendees at the 2019 Commercial Real Estate Finance Summit-West conference held on May 7-8 in Santa Monica, California.

CRE Finance Council (CREFC) Executive Director Lisa Pendergast provided welcome remarks and a regulatory briefing to open the conference. The briefing touched on many topics within the regulatory landscape, including a focus on the Secured Overnight Financing Rate (SOFR), the Treasury’s alternative for LIBOR which is slated to be eliminated by 2021. CREFC has been actively engaged in dialogue with market constituents surrounding the transition to SOFR in structured finance, including dialogues with the Alternative Reference Rates Committee (ARRC), which is sponsored by the Board of Governors of the Federal Reserve System.

Some of the key takeaways from the four panels that took place on May 7 are as follows:

  • No clear consensus as to the timing and depth of the next economic downturn. Panelists agreed, however, that real estate markets are unlikely to be the underlying trigger.
  • Opportunity Zone investment is gaining traction, with large amounts of capital raised. However, there is a lack of regulatory clarity on the deployment of capital.
  • Compared to the typical lending practices on stabilized assets, construction and transitional asset lenders are focused heavily on the experience and track record of the sponsors, developers, and contractors.

KBRA, along with 16 other firms, sponsored the event and our coverage of the conference included live tweets. Follow us on Twitter to see our tweets from the event.

To read the full recap, click here.

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190508005940/en/

CONTACT: Analytical:

Christina Chou, Associate

(646) 731-3387

cchou@kbra.com

Caitlin Parrella, CFA, Associate

(646) 731-3310

cparrella@kbra.com

Nitin Bhasin, Senior Managing Director

(646) 731-2334

nbhasin@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2019.

PUB: 05/08/2019 05:16 PM/DISC: 05/08/2019 05:16 PM

http://www.businesswire.com/news/home/20190508005940/en