Hosted by ULI’s Real Estate 101 Young Leader’s Group, on March 13, 2017, many braved inclement weather for a panel discussion on one of commercial real estate’s fundamental questions: How do I get funding for my project? Given that there are two ways to finance a deal – debt and equity – and then the need to get all parties together, Real Estate 101 thought the best combination for this discussion would be a lender, an equity partner, and a broker. Fortunately, a capital dream-team answered the call: Anthony Balestrieri, Director of Equity and JV Investments at MetLife Real Estate Investors, Antonio “Tony” Marquez, Chief Lending Officer – Commercial Real Estate at EagleBank, and Brendan Scanlon, Senior Director of Greysteel offered insights from their experiences, expertise, and outlooks to a crowd of over 100 real estate professionals. Panel discussion topics included capital sources & structuring, differing incentives/priorities for deal partners, the importance of track records & personal relationships, risk assessments, and a host of other inquiries raised from an audience Q&A session.
Those who attended gained a good understanding of what it takes to find the money needed to get their project off the ground. Attendees now know who to talk to, typical capital structures, competition, lender/equity partner portfolio allocation, money they’ll need to pony up on a deal, and other crucial deal details. Whether one comes in with structured debt or a JV partner share in the upside, Capital Stacks 101: A Primer on Debt and Equity certainly provided the framework and ideas needed to move forward in getting a building out of the ground.