GERMANY FORUM 2015 Register your place by Friday 13 February for early bird savings Hear from industry leaders including: 24-25 March | Kempinski Hotel Gravenbruch, Frankfurt www.recapitalnews.com/germanyforum Jan Peter Annecke, Head of Origination, Münchener Hypothekenbank Barkha Mehmedagic, Head of Group Finance and Treasury, Commerz Real Helmut Mühlhofer, Head of Debt and Capital Markets, Allianz Real Estate Andreas Segal, Member of the Management Board & CFO, Deutshe Wohnen Christian Windfuhr, Chief Executive Officer, Grand City Properties Dr. Patrick Züchner, Chief Investment Officer, CAERUS Debt Investments
Transcript
GERMANY FORUM 2015
Register your place by Friday 13 February for early bird savings
Hear from industry leaders including:
24-25 March | Kempinski Hotel Gravenbruch, Frankfurt
www.recapitalnews.com/germanyforum
Jan Peter Annecke, Head of Origination, MünchenerHypothekenbank
BarkhaMehmedagic, Head of GroupFinance and Treasury,Commerz Real
Helmut Mühlhofer, Head of Debt andCapital Markets, Allianz Real Estate
Andreas Segal, Member of theManagement Board& CFO, Deutshe Wohnen
Christian Windfuhr, Chief ExecutiveOfficer, Grand City Properties
Dr. Patrick Züchner, Chief InvestmentOfficer, CAERUS DebtInvestments
With low interest rates, growing property prices andincreased volume of real estate loans, we will belooking at the risk that is being posed on the Germaneconomy as a whole.
9.45 Opening panel session:
German CRE finance markets: 2015- 2016market outlook• Assessing low growth mode and consequences for
CRE finance• Cost of capital and geographical variance on
refinancing, new acquisitions and development• The role of debt funds and alternative lenders in the
current lending landscape• Opportunities and challenges ahead
PANELLISTS:
Jan Peter Annecke, Head of Origination, Münchener HypothekenbankJuergen Helm, Head of Real Estate Germany, HSBC Jörg Oestreich, Director - Structured Finance,Deutsche Bank
10.30 Coffee & networking
11.15 Panel session:
Investing in real estate debt• Where does it fit within investors’ portfolios?• Fixed income or real estate? Long or short term
commitment?• Are the returns attractive across the debt spectrum?• Importance of governance and dialogue with
Exploring investment opportunities in keyGerman markets• Yield expectations and potential for deals• The level of domestic and foreign competition in
different regions• Performance of secondary and tertiary markets• Emergence of alternative asset classes
PANELLISTS:
Hubertus Bäumer, Co-Head Institutional PropertySolutions, Union InvestmentsTorsten Hollstein, Managing Director, CR InvestmentManagementPeter Jun, Managing Partner, Arminius FundsManagement Michael Ramm, Managing Director, Co Head ofAcquisition, JP Morgan Asset Management
13.00 Lunch
14.15 Roundtable sessions:
A series of interactive roundtable discussions will allowyou to learn and debate with attendees who shareyour interests. Small group discussions will provide theopportunity to get to the heart of the issues affectingthe real estate community, and will provide the perfectenvironment to showcase your expertise in an intimateenvironment.
1. The return and demand for CMBS from investorsand borrowers
2. Market for mezzanine capital in Germany3. German lenders abroad: in search of better
opportunities4. Refinancing terms and conditions
15.30 Coffee and networking
16.00 Panel session:
NPLs - a European perspective• Where in Europe will most NPL sales occur in
2015/2016?• Adding value and managing distressed portfolios• Understanding exit strategies and expected returns• Germany: when will banks be motivated to sell?
PANELLISTS:
Ulrich Ahrens, Partner, Non-Performing Loans, ApolloGlobal ManagementClarence Dixon, COO, Global Head of Loan Servicing,CBRERuprecht Hellauer, Managing Director, AlbulusAdvisors GermanyJose Holgado, Managing Director, Head ofCommercial Real Estate ll, FMS WertmanagementThomas Wiegand, Managing Director, CerberusDeutschland
17.00 REC interview:
As institutional investors are increasingly discoveringreal estate debt as an attractive asset class for theirportfolios, the interview will explore a successfultransition of an LP into a real estate lender.
Borrower perspective - sourcing finance• Banks vs non-banks: what type of financing do you
prefer and why? What is the best financing mix?• How are various types of real estate loans priced and
structured?• Negotiating process: nuances and deal breakers• Development financing/refinancing/acquisition
financing: current requirements for loans
PANELLISTS:
Roberto Carrera, European Head of Financing, LaSalleInvestment ManagementRaimund Frühmorgen, Managing Director, UniCredit BankBarkha Mehmedagic, Head of Group Finance andTreasury, Commerz RealAndreas Segal, Member of the Management Board &CFO, Deutsche Wohnen
9.45 Panel session:
Senior debt lenders - chasing yields amongstcompetition• Have the types of loans that you issue changed
recently? Comparison of pricing with non-bank lenders• Various ways of standing out from other lenders• Risks and “no-go” geographic zones and assets• Structuring single borrower vs multi borrower deals
PANELLIST:
Helmut Mühlhofer, Head of Debt & Capital Markets,Allianz Real Estate
10.30 Coffee & networking
11.00 Panel session:
German real estate - a newfound playground forinternational capital • Who are the new players and what are they after?• Germany vs UK vs France: return expectations and
competition levels• Setting up funds and partners in Germany: challenges
and opportunities• German varied regional markets: looking at Core and
beyond
11.45 Data snapshot
Analysis of macro-economic and real estate dynamics thatmake Germany one of the most active property markets inEurope.
12.00 Panel session:
Residential real estate in Germany - home toEuropean capital?• Attractiveness of the segment for international and
institutional investors• Regulation and rent control: impact on investment
strategy• Most suitable debt vehicles for residential
assets/portfolios• Multifamily financing: will the trend continue?
PANELLISTS:
Assem El Alami, Head of Real Estate Finance, Berlin HypDr. Marcus Eilers, Head of Residential Asset Management,Round Hill CapitalFrank Jeschke, Senior Vice President, Landesbank Baden-WürttembergChristian Windfuhr, Chief Executive Officer, Grand CityProperties
12.45 Lunch & conference close
AGENDA DAY TWO: WEDNESDAY 25 MARCH
This is a provisional agenda and remains subject to change at the discretion of theorganisers. Please visit the website for the latest updates.
VENUE INFORMATION
The Real Estate Capital Germany Forum will be heldat: Kempinski Hotel Gravenbruch Frankfurt
The hotel is easily accessible due to its proximity toFrankfurt International Airport (FRA).
Address: Graf zu Ysenburg und Buedingen Platz 1, Neu-Isenburg 63263, Frankfurt,Germany
Phone: +49 69 389 88 0
Special conference rates available. Once you have registeredyou will receive an email with accommodation details.
DISCOVER WHAT IS DRIVINGTHE GERMAN REAL ESTATEFINANCING MARKETJoin German and internationalexperts including debt investors,lenders and borrowers as theyassess the opportunities andchallenges ahead.
BE PART OF THE DISCUSSIONPut your questions to the speakersduring the interactive on-stagepanels, open roundtables and in-depth interviews. Find out who isinvesting in real estate debt, whatborrowers are looking for andwhether German lenders are readyto take on more risk as they moveinto secondary locations.
DEVELOP YOUR NETWORK INGERMANY Get ahead in a highly competitive realestate market. Find out what your peersare thinking and meet potentialpartners during the networking sessions.
2
3Co-sponsor
Media Partner Host Publication Supporting Publication
LPs from recent real estate events include:
REASONS TO ATTEND
TO DISCUSS A SPONSORSHIP OPPORTUNITY CONTACT: Jane Popova | Senior Conference Producer, Real Estate Events – EMEA T: +44 207 566 5475 E: [email protected]
ADIA Aegon Allianz Allstate InvestmentsAPG Asset Management ATP Real Estate Aviva Investors
Blue Sky Group CAAT Pension Plan CPPIBChurch Pension Fund Commonwealth of Pennsylvania
CNP Assurances Employees Retirement System of Texas
First Swedish National Pension Fund (AP1) Ford Foundation
GIC Real Estate Grafische BedrijfsfondsenHanson Asset Management Harvard Management Company
Hospitals of Ontario Pension Plan ING Insurance Ivanhoe Cambridge
J. Hamer Jr. Pensioen MIT Investment Management Company
Mn Services National Pension Service of Korea
National Treasury Management Agency
New Zealand Superannuation FundNew York State Common Retirement Fund
Company name......................................................................................................................Job Title.......................................................................................................................
Payment can be made by American Express, Visa, MasterCard or by wire transfer. Full payment must be received prior to the event. If registering four weeks or less priorto the event, payment must be made by credit card.
� By Wire Transfer � By Credit Card - American Express/Visa/MasterCard
Name on Card..............................................................................................................................................................................................................................................................
Early bird prices validuntil 13 February 2015Pricing options Save
One delegate £1,295 £600
Discounts apply for extra delegates. Call for more details +44 (0)20 7566 5445.
If you're an institutional investor you may be eligible for a complimentary pass. Email [email protected] for further details.
www.recapitalnews.com/germanyforum
Any cancellation received more than fourteen (14) days prior to the forum will be subjectto a charge of 50% of the fee already paid or the full delegate rate, whichever is thelower. All cancellations must be made in writing (by letter, fax or email - proof of receiptwill be required) to the relevant contact at PEI Media Ltd for that event. We regret that norefunds will be made for cancellations made within 14 days of an event and there will beno exceptions to this policy. Any cancellations received in writing less than fourteen (14)days prior to the date of the forum will receive a 100% credit to be used at another PEI
event for up to 12 months from the date of issuance. Payment policy: Payments can bemade by American Express, Visa, MasterCard or Company Cheque. Full payment mustbe received prior to the event. If registering 4 weeks or less prior to the event, you mustpay by credit card. For more information regarding administrative policies such ascomplaint and refund, please contact customer services on +44(0) 20 7566 5445.
Conference Registration PEI,140 London Wall, London,EC2Y 5DN, UK
