On Thursday, November 19, 2020, Berkadia and Baker Botts hosted Conversations with the C-Suite: Post-Election Outlook, a discussion about the current state of the multifamily market and the impacts of the 2020 election on the commercial real estate industry.
To view a recording of the webinar, click here.
On November 17, the Federal Housing Finance Agency (FHFA) shared their 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac. Following the announcement, Berkadia CEO Justin Wheeler shared his thoughts, explaining why he is still bullish on multifamily and remains optimistic as we look ahead to 2021.
As always, we’re committed to sharing the latest insights, data and thought leadership with our clients and partners. As we navigate this ever-changing landscape together, that commitment has never been more important, so we hope this webinar and report will serve as valuable resources to you and your team.
Featured Speakers:
Justin Wheeler – CEO – Berkadia: Justin Wheeler is Chief Executive Officer and a member of Berkadia’s Management Committee.
Prior to joining Berkadia, Mr. Wheeler was the Chief Operating Officer of Leucadia National Corporation and was appointed Vice President of Leucadia in 2006. As part of his prior role, Mr. Wheeler was responsible for M&A activities, operating portfolio performance, cash management and investment, as well as various administrative functions. Previously, he served as President and Chief Executive Officer of American Investment Bank, N.A., a wholly owned subsidiary of Leucadia.
Ernest Katai – EVP, Head of Production – Berkadia: Ernest Katai is Executive Vice President, Head of Production and a member of Berkadia’s Management Committee. In this role, Mr. Katai oversees approximately 240 experienced mortgage bankers and investment sales advisors. Under his leadership, the company’s mortgage banking division has grown by 90 percent, while investment sales have increased by 103 percent. In 2019, Berkadia’s combined production volume of loan origination, investment sales and JV equity placements exceeded $36 billion.
Mr. Katai has been with Berkadia and its predecessors’ companies for more than 25 years, working as a leading mortgage banker throughout his tenure. Prior to his current position, Mr. Katai led the Detroit Office to the top originating office in the State of Michigan. The office now regularly produces mortgage banking and investment sales volume of approximately $2 billion annually. Mr. Katai has an extensive background in loan origination that includes construction lending, interim loans, structured loans, tax free financing, joint ventures and equity investments. Mr. Katai has originated transactions with more than 50 capital sources including multiple life companies, credit companies, banks, conduits, and pension funds. Previously, Mr. Katai did construction lending for Comerica Bank and real estate structured credit financing for Ford Motor Credit.
Hilary Provinse – EVP, Head of Mortgage Banking – Berkadia: Hilary Provinse is Executive Vice President, Head of Mortgage Banking and a member of Berkadia’s Management Committee. In this role, Ms. Provinse oversees more than 148 experienced mortgage bankers and their teams located in 40 offices across the country. These bankers serve clients across all multifamily and commercial real estate channels, including specialized teams with expertise in seniors housing and healthcare, hotels and hospitality, student housing, affordable housing and manufactured housing. Ms. Provinse ensures that clients benefit from our market leadership and deep relationships with diverse capital sources, including Berkadia’s 48 Life Company’s correspondents, banks, CMBS, Debt Funds, Fannie Mae, Freddie Mac and HUD.
In 2019, Berkadia’s combined production volume of loan origination, investment sales and JV equity placements exceeded $36 billion, of which $27 billion is attributed to the company’s mortgage banking division. Berkadia was also ranked as Freddie Mac’s number one conventional Optigo lender.
Previously, Ms. Provinse was Senior Vice President and Head of Customer Engagement at Fannie Mae, where she managed the team who was responsible for all of Fannie Mae’s production activities and customer relationships – overseeing more than $100 billion of production during the course of her tenure. Prior to joining Fannie Mae in 2003, Ms. Provinse spent 10 years on Wall Street in investment banking, working for Goldman Sachs & Co. and Bear Stearns & Co. in New York.
Mark McCool – EVP, President – Berkadia Commercial Real Estate Services: Mark McCool is Executive Vice President of Berkadia and the President of Berkadia Commercial Real Estate Services. He is also a member of Berkadia’s Management Committee. In these roles, Mr. McCool oversees Facilities and all Servicing Operations as well as Strategic Initiatives with management responsibility of Asset & Portfolio Management, Servicing Administration, Offshore Administration, BPO Administration and Banking for a $280 billion CRE Servicing Portfolio.
Berkadia Commercial Mortgage is one of the largest commercial real estate finance companies in the nation. Berkadia, a privately held company in which Berkshire Hathaway Inc. and Jefferies Financial Group each hold a 50 percent ownership interest, acquired the loan origination and servicing businesses of Capmark Financial Group Inc. in December 2009.
Tucker Knight – Senior Managing Director, Mortgage Banking – Berkadia: Tucker Knight is a Senior Managing Director in the Mortgage Banking division of Berkadia with responsibilities in loan origination, equity placement and management of the Texas offices. Under Tucker’s leadership the Houston office ranks at the top of Berkadia’s national network in production annually.
Mr. Knight joined Berkadia in May of 2015 and has more than $23 billion in commercial real estate transactions throughout his career. He specializes in office, industrial and multifamily properties and has extensive experience in arranging and structuring joint venture opportunities with life insurance companies, pension funds and advisors as well as originating debt for commercial real estate throughout the United States. Prior to joining Berkadia, Mr. Knight was a Senior Managing Director for Holliday Fenoglio Fowler, L.P., where he was the top producer nationally for several years. Before that, he was a Mortgage Banker with Allied Mortgage Capital Corporation.
Tucker, a native Houstonian, earned his bachelor’s degree from the University of Mississippi and is a certified commercial investment member (CCIM). He serves on the National Advisory Committee for Freddie Mac and is a Vice Chair of the IOPC Black committee of the Urban Land Institute. Tucker is a member of the Mortgage Bankers Association of America, Texas Real Estate Commission, International Council of Shopping Centers, and Association of Commercial Real Estate Professionals. Mr. Knight serves as Chairman of the Board for the Institute of Stem Cell Research and Education and is a Board Member of the Houston Livestock Show and Rodeo Committee, providing college scholarships for the youth of Texas and surrounding states. He also serves on the Board of Directors for the Culinary Institute Lenotre, Mutual of Omaha Bank, the Texas Wildlife Association, Trinity Oaks, and rides with the Tejas Vaqueros.
Brooke Geren McNabb – Partner, Litigation – Baker Botts: Brooke Geren McNabb has served as lead lawyer in numerous commercial and personal injury matters and has first-chaired multiple trials resulting in favorable jury and bench verdicts. She represents plaintiffs and defendants in state and federal courts and in arbitration in a variety of complex commercial litigation matters, and her cases have involved a broad range of claims, including breach of contract, fraud, breach of fiduciary duty, and other business torts. Ms. McNabb also has extensive experience representing defendants in wrongful death and serious personal injury cases. Ms. McNabb regularly represents and advises clients in the oil and gas, power, petrochemical, and real estate industries.
Ms. McNabb received her law degree with honors from The University of Texas School of Law in 2004, where she was an Associate Editor on the Texas Law Review, Order of the Coif, and a member of the mock trial team. She graduated with honors from the Plan II Honors Program at The University of Texas at Austin in 2000, served as President of the Orange Jackets, the oldest women’s honorary service organization at The University of Texas, and was Phi Beta Kappa and a member of Mortar Board.
Ms. McNabb is an active leader in the community. She serves as the General Counsel for Communities in Schools Houston and also represents Girl Scouts of San Jacinto Council. She is a former Trustee of the Houston Association of Women Attorneys Foundation, an organization dedicated to providing scholarships and fellowships to outstanding women law students at Houston’s law schools, and a past president of the Houston Association of Women Attorneys, an organization devoted to promoting women and the interests of women in Houston’s legal community. Within Baker Botts, Ms. McNabb serves as the Houston Chair of the firm’s Global Women’s Forum.
Paul Landen – Partner, Real Estate – Baker Botts: For over 35 years, Paul Landen‘s practice has covered a wide-range of transactional experience, ranging from commercial real estate to domestic and international joint ventures across a variety of industries, downstream energy, petrochemical and other industrial project development and cross-border mergers and acquisitions. The breadth of his experience has helped Mr. Landen develop to be a seasoned, business-oriented, pragmatic commercial lawyer.
Mr. Landen’s practice currently focuses primarily on all aspects of commercial real estate, with deep experience in real estate joint ventures, development and financings.
Paul Landen became a partner with Baker Botts in 1991, relocating to the London office in 1998 and returning to the Houston office in 2007. His practice focuses on commercial real estate, domestic and international joint ventures, industrial projects, and domestic and cross-border mergers and acquisitions.
Mr. Landen’s clients include an internationally renowned real estate developer, other real estate development companies, a Turkish steel pipe manufacturer, petrochemical and other energy companies, and private equity funds. His wide-ranging transactional experience has helped Mr. Landen develop to be a seasoned, business-oriented, pragmatic commercial lawyer.