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On-Demand: CRE CLO 101: Part 3- Structure, Evolution, and Key Takeaways

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This final video in the series will discuss how CRE CLOs typically use a “debt-for-tax” structure, as opposed to a “real estate mortgage investment conduit,” or REMIC, tax structure. Details of this type of structure will be reviewed as well as a high-level comparison of the CRE CLO structure to pre-crisis CRE CDOs and CMBS and large-loan floaters. A comparison on static, lightly managed, and managed CRE CLO’s will be reviewed including the basic reinvestment criteria and the evolution of these CRE CLO transaction types post-crisis (2012 to present day). This webinar and series will end on the major key takeaways learners should know on CRE CLO’s. 

Description

This final video in the series will discuss how CRE CLOs typically use a “debt-for-tax” structure, as opposed to a “real estate mortgage investment conduit,” or REMIC, tax structure. Details of this type of structure will be reviewed as well as a high-level comparison of the CRE CLO structure to pre-crisis CRE CDOs and CMBS and large-loan floaters. A comparison on static, lightly managed, and managed CRE CLO’s will be reviewed including the basic reinvestment criteria and the evolution of these CRE CLO transaction types post-crisis (2012 to present day). This webinar and series will end on the major key takeaways learners should know on CRE CLO’s. 

Contributors

  • Stewart McQueen, Partner, Dechert LLP

    Stewart McQueen, a partner in Dechert's global finance practice, focuses his practice on securitization transactions, complex real estate finance and capital markets. His experience includes representing issuers, underwriters, collateral managers, b-piece buyers and investors in connection with securitization transactions, particularly CMBS and CRE CLOs; borrowers and lenders in connection with repurchase facilities, warehouse facilities and revolving credit facilities; and lenders, purchasers and sellers in connection with mortgage and mezzanine financings and loan sales.

    Mr. McQueen is recognized as a leading lawyer by Chambers USA for his work in Real Estate Finance and was recommended in The Legal 500 (U.S.) for structured finance and his work within CMBS.

    He is an active participant in industry trade organizations such as the CRE Finance Council (CREFC) and is also a contributor to Dechert’s finance and real estate blog, Crunched Credit.

June 4, 2020
Thu 11:00 AM EDT

Duration 1H 0M

This live web event has ended.

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