Distressed Real Estate Summit

CALIFORNIASheraton Los Angeles Downtown | Los Angeles, CA | February 24, 2011

ASSET MANAGEMENT

SYMPOSIUMNew York’s leading conference on

Real Estate Asset and Property Management

March 24, 2011 | McGraw-Hill Conference Center | New York, New York

20% OFF for DISTRESSED REAL ESTATE SUMMIT CALIFORNIA Attendees

Use discount code DRESCA11

P R E S E N T E D B Y G R E E N P E A R L E V E N T S

Speakers include Asset Managers controlling $150B in

real estate assets, including BlackRock, JP Morgan, TIAA-CREF,

Prudential Real Estate Investors, and Mack-Cali. Hear them

share their expertise and join over 400 property and asset managers,

building owners, brokers, service providers, vendors,

and other real estate executives and principals for a full day

of programming, exhibits and networking.

Registration and Program Information is available at www.greenpearlevents.com/iremFor more information, email events@greenpearlevents.com or call +1 646 862 6136

For information on sponsoring, please contact Tammy Jean Weiss at (646) 862-9397 or events@greenpearlevents.com 3

Dear Esteemed Colleague:

The distressed real estate landscape may look differentthan it did a year ago, but for investors and industry playerswho know where to look, it’s no less fertile. Transactionsare definitely happening.

However, the deluge of great deals never happened, andit may never come.  For those who are successfully gettingtheir claws in deals, the discounts are not living up toexpectations, with rare exceptions. And for many, gettingaccess to deal flow has turned out to be much moredifficult than expected. Banks and special servicersappear to be repeating a similar mantra in unison: “If Idon’t already know you, I don’t want to know you.”

With that said, how do we get deals at deep discounts thatappear to be warranted due to decreased valuations,impaired cash flows and/or distressed sellers? And howdo relative newcomers get access to deals from which theyare currently excluded without going through the front doorof brokers and over-valued asking prices? These questionswill be addressed during today’s conference.

From a borrower’s perspective, capital markets are offeringincredibly low rates for performing properties, but what doyou do if you are still struggling with an inverted capitalstack or under-/non-performing property? Many bankshave a “take-it-or-leave it” attitude when it comes torelations with distressed borrowers. 

So, what creative strategies are borrowers putting into playto bring lenders and special servicers to the table? Whereare borrowers turning for fresh capital? Which investorsare leading three-party deals (aka short sales) for commer-cial property? How does a borrower get out from underpersonal guarantees and avoid l i fe -devastat ingconsequences?

These questions are core to the agenda.

In the room today are investors, borrowers, banks,servicers, attorneys, brokers, workout consultants, andmore.  We hope you will take the opportunity to get toknow your fellow attendees and explore the possibility ofworking with them.

Thank you for helping to make today successful!

Ryan SlackChief Executive OfficerGreenPearl Events

Ryan Slack

MORE INFORMATION ABOUT GREENPEARL EVENTS

Events are continuously added, so please check back to www.greenpearlevents.com for updates and a full list of programs. Early bird and group discounts are available.

Visit www.greenpearlevents.com for pricing and registration deadlines. Register early and you can save up to $300 off the cost of a single event.

SPONSORSHIP, SPEAKING AND EVENT INQUIRIES

Please contact events@greenpearlevents.com or (646) 862-6136 x2.

As GREENPEARL EVENTS continues to grow and bring education and networking events to real estate professionals, we’d like to say thank you to all of our attendees, sponsors, and partners for making 2010 a year to remember. The com-bined successes have set the stage for more growth and more opportunities in 2011.

HERE ARE SOME OF THE PROGRAMS YOU CAN LOOK FORWARD TO:

COMMERCIAL REAL ESTATE SUMMIT: BEYOND DISTRESS

MIDWESTChicago – May 12

NEW YORKNew York City – September 22

IREM NYC ASSET MANAGEMENT SYMPOSIUM

NEW YORK CITYMarch 24

MASSEY KNAKAL CRE INVESTMENT SUMMIT

NEW YORK CITYMay 19

THE BROOKLYN REAL ESTATE SUMMIT

NEW YORK CITYJune 16

CMBS 2.0 - REAL ESTATE ASSET SECURITIZATION FORUM

NEW YORK CITYOctober 27

MULTIFAMILY SUMMIT

CHICAGOSeptember 15

NEW YORK CITYNovember 16

New Year, New Ideas, New Contacts… EXPAND YOUR BUSINESS IN 2011

4 Thank You To Our Summit Sponsors and Partners

Lone Oak Fund, LLC is a private mortgage fund larger than many banks that makes bridge loans typically ranging from $250K to $10M on properties throughout California. Founded and managed by experienced real estate developers, Lone Oak Fund is the preferred lender

for institutional banks, commercial banks, mortgage bankers, mortgage brokers, developers, attorneys, life insurance companies, equity funds, CPAs, financial advisors, estate planners, money managers, and other professionals seeking fast, reliable bridge financing for their clients, while providing an additional profit center. Lone Oak Fund also offers a Line of Credit for buyers of houses from banks and at Trustee Sales, with credit lines from $1.5M to $10M, and loan amounts from 50 to 60 percent of the purchase price at 8.9% interest only. First trust deeds only; interest from 8.9% to 9.9%; no prepayment penalties; funding in less than seven business days; minimal paperwork; creative structuring; broker cooperation.

www.loneoakfund.com

We are a direct private lender for non-institutional, short-term, commercial real estate transactions commonly referred to as Private Lending, Hard Money or Bridge Loans. Our focus is to provide financing for collateral-based, income producing opportunities

that require immediate funding and will lend capital up to 65% of estimated value. We have the resources to offer financing options for virtually every product type andmaintain a reputation for speed, integrity, and the ability to fund deals with our own capital.

www.bandacp.com

Bolour Associates, a fully integrated real estate investment,development and syndication firm, is also a well-capitalizedprivate lender, making bridge, acquisition and constructionloans between $1M to $10M on distressed residential

and commercial properties in California, Arizona, Nevada and Texas. With a comprehensive infrastructure, a multifaceted executive team and over 30 years experience covering all areas of real estate, our Distressed Lending Program provides innovative strategies, flexible programs and custom solutions for borrowers seeking a trusted and strategic capital partner.

www.bolourassociates.com

CAP helps meet the growing need for a national provider of general maintenance, preservation, care take, and inspection services for abandoned and nearly vacant commercial and industrial real estate. CAP ensures that

these properties retain value and don’t further deteriorate, become vandalized, or receive citations for their physical condition. Services include: boarding/securing, debris/hazard removal, cleaning/janitorial, extermination, winterization, HVAC maintenance, plumbing, electrical, roof maintenance, grounds keeping, parking lot maintenance, graffiti removal, environmental hazard testing/remediation, property inspections/evaluations, caretaker services, and more.

www.commercialpreservation.com

At CPS Security Solutions®, our success is based on a top management team with experience in Internettechnology, security services marketing, communications, software development and program

management. We have a capable, creative team with the vision and energy to effectivelymanage a growing company. Headquartered in California, CPS is built on over 20 years of security experience from Construction Protective Services®.

www.cpssecurity.com

The Ernst & Young Global Real EstateCenter brings together a worldwideteam of professionals to help youachieve your potential – a team with

deep technical experience in providing assurance, tax, transaction and advisory services.We work to anticipate market trends, identify the implications, and develop points ofview on relevant industry issues. It’s how Ernst & Young makes a difference.

www.ey.com

Founded in 1987, GFI provides competitive inter-dealer brokerage services in a multitude of global over-the-counter(“OTC”) cash and derivatives markets, including credit

derivatives and fixed income, financial derivatives, cash equities and equity derivatives,energy and commodities. GFI is an industry leader in various credit, financial, equity andcommodity markets according to recent market surveys published by Risk and Energy Risk magazines.

www.gfigroup.com

The “Asset Recovery Team” at Sperry Van Ness(SVNART) has been created to provide anyclient a “single full service source” for the

efficient and effective workout and disposition of any real estate related asset includingloans, portfolios and individual properties of all asset types. In addition to delivering optimal returns to its clients, SVNART and its strategic partners provide expert guidancethroughout all phases of the real estate market including Broker Opinion of Value, Appraisal, Marketing Proposals, Market Research, Property Management, Asset Preservation, Accelerated Marketing/Auction, Sealed Bid, Investment BrokerageServices, Leasing Services and Loan Sales.

www.svn.com

Trigild is a troubled asset specialist working with financial institutions by combining receivership, consulting, management, and disposition services to drive an asset’supside and maximize its loan recovery. Headquartered inSan Diego with regional personnel throughout the country,

Trigild has more than 30 years of expertise in managing a wide array of commercial realestate assets and operating businesses including retail, office, multifamily, industrial,self storage, hotels, resorts, restaurants, and convenience stores, focusing on turnaround management and repositioning of troubled assets.

www.trigild.com

Triple Crown Insurance Services prides itself on its stability,knowledge, professionalism and staying power in today’s changing insurance environment. We treat our clients as partners. We can handle the most challenging business

situations and opportunities imaginable. We develop solutions that take advantage of the current insurance markets and provide competitive insurance policies so your business can be successful. Triple Crown Insurance Services is licensed for property/casualty insurance in all 50 states as well as the District of Columbia. Our insuranceclients: Receiverships, Accountants, Lenders with REO and OREO Properties, Asset Managers, Conflict Resolutions Specialists, and Problem Resolutions Specialists.

www.triplecrownins.com

Conference Agenda 5

WEDNESDAY, FEBRUARY 23Sheraton Los Angeles Downtown Hotel • 711 South Hope Street • Los Angeles, CA 90017

8:15AM

Conference Registration and Coffee in Exhibit Hall

9:00AM

Opening Chairperson RemarksRyan Slack, CEO, GREENPEARL EVENTS

9:15AM

Kick Off: Industry Leaders ForumModerator - Brian Shniderson, Managing Director, B & A CAPITAL

Marc Benezra, Partner, BAKER & HOSTETLER LLPSam Freshman, Chairman & CEO, STANDARD MANAGEMENTStanley Iezman, Chairman & CEO, AMERICAN REALTY ADVISORSMichael Rosenfeld, Founder & CEO, WOODRIDGE CAPITAL PARTNERS, LLC

These days finding distress in the real estate sector is not the challenge; the realchallenge is finding the best opportunities in the sector that offer the greatestvalue. How does one source an interesting opportunity, narrow the bid-ask spread,and ultimately get the transaction structured and closed? Finding those answersstarts with asking more questions. For example, what is the size of the investor’scapital base and what does it consist of. Is it long-term capital or is liquidity required? Capital sources: Private money, Bridge lenders, which is the best routeto take? What are some of the current deals that we’ve seen and how were theyaccomplished? What role do ‘trophy’ properties play in the distressed arena?

10:15AM

Refreshment Break in Exhibit Hall

10:45AM

Where the Deals Are in 2011: Buying Assets from Banks and Special ServicersModerator - Eric Remensperger, Partner, PROSKAUER

Martin Bronstein, Founder & Chairman, THE SITUS COMPANIESDavid Frank, CEO, THE MERRILL COMPANIESBob Kline, Principal & CEO, RW KLINE COMPANIESKeith Hall, Managing Partner, KBS CAPITAL ADVISORS

Lenders and servicers continue to be inundated with properties entering specialservicing with little time to answer phone calls or field requests from investors. Be-cause banks and special servicers are holding such a large percentage of troubledproperties, getting insight into their processes, procedures, and practices is key tounderstanding the best way to tap into this market.

11:45AM

CRE Workouts: Restructuring, Litigation, and Desperate MeasuresModerator - Barbara Champoux, Partner, CROWELL & MORING

Leslie Lundin, Managing Partner, LBG REALTY ADVISORS, LLCMark Mersel, Partner, BRYAN CAVE LLPDavid Stapleton, Founder, STAPLETON GROUP

With a wave of maturities coming due in 2012 (an estimated $500 billion in CREloans are set to mature) demand for restructuring will continue to increase. In suchan environment, the resounding question from the owners’ and lenders’ perspec-tive is: Should we restructure or do we need to sell? Conversely the answer to thatquestion for buyers is definitely, “sell.” This session will explore both viewpoints.

7:30AM

Workshop Registration & Coffee

8:00AM

Concurrent Pre-Conference Workshops (note–separate registration required)

THURSDAY, JANUARY 27Sheraton Los Angeles Downtown Hotel, 711 South Hope Street, Los Angeles, CA 90017

6:00 – 8:00 pmVIP Reception (By invitation only)A reception for sponsors, partners, speakers and special guests hosted by GreenPearl Events.

Track A - Tax Liens – GFI Tax Receivables: How to Buy and Trade Property Tax Liens Profitably

Tom McOsker, Head of Tax Receivables, GFI GROUPHoward Liggett, President, DISTRESSED REAL ESTATE CONSULTING SERVICES, INC.

Tax lien investing is entering a new paradigm. The emergence of an institutionalizedsecondary market in this lucrative asset class is allowing for both real estate focused, and arbitrage focused, managers to participate in this space. For managers seeking yields, tax liens can provide investors with mid-teen returns, while maintaining an uncorrelated and low risk portfolio. For managersseeking real estate, tax liens can be an alternative way to acquire real propertywith an extremely low cost basis and superior creditor position. Explore the basicsof traditional tax lien investing in Part I of the workshop, and learn how new active trading strategies in this century-old asset are creating outsized returns for some managers during Part II.

Track B - Working with Receivers: How to Get Access to Deals to Buy and Broker

Moderator - William Hoffman, President & CEO, TRIGILD

Marc Brooks, Executive Vice President, MARA ESCROWMark Mersel, Partner, Bryan Cave LLPPhil Seymour, Managing Director, THE SEYMOUR GROUP/ELITE PROPERTIES REALTYRobert Smylie, Founder, SMYLIE & ASSOCIATES

Receivers control assets that you want to buy or broker. This workshop helps youget access, such as: how to get a listing from a receiver; what to do if your listingends up in receivership; how to get access to acquisition opportunities in receivership; and the do’s and don’ts of buying and brokering deals in receivership.

6 For a complete list of events, please visit greenpearlevents.com

sponsorship & exhibit opportunities

For more information on sponsoring or exhibiting, please contact Tammy Jean Weiss at 646-862-9397 or events@greenpearlevents.com.

COMMERCIAL REAL ESTATE SUMMIT: BEYOND DISTRESSCALIFORNIALos Angeles

FEBRUARY 2012

MIDWESTChicago

MAY 2011

NEW YORKNew York City

SEPTEMBER 2011

Sponsorships and exhibits are excellent opportunities for your

company to showcase its products and services to high-level,

targeted decision makers attending The Summit. The Summit

helps companies like yours achieve important sales, marketing

and branding objectives by setting aside a limited number of

event sponsorships and exhibit spaces - all of which are tailored

to assist your organization in creating a platform to maximize its

exposure at the event.

FLORIDAMiami

JANUARY 2012

Conference Agenda 7

12:45PM

Networking Lunch & Round Table DiscussionsLuncheon round tables are facilitated by topic experts who lead interactive discussions. This maximizes the value of your networking time by giving you the opportunity to meet attendees who share your interests. Lunch will be providedduring this session, so please take this opportunity to sit and meet others in yourarea of interest. Space is limited and each discussion happens simultaneously,please choose between one of the topics provided or sit at one of the general networking tables.

1:45PM

Office Properties in California and Western U.S.Moderator - John McDermott, National Director,

Office & Industrial Properties, SPERRY VAN NESS

Tom Bohlinger , Executive Vice President, CB RICHARD ELLISMark Laderman, Managing Director, TISHMAN SPEYERKev Zoryan, Managing Director, MORGAN STANLEY

Office properties appear to be moving much more slowly through workout, receivership, special servicing. Would-be acquirers are stymied by the longprocess. What can be done to move things along faster? Is suburban office (aka smaller deals) the only type of property that can be transacted today? Are note buying strategies working? Who is successful, who is waiting to pounce, and who has given up?

2:30PM

Hot(el) Pursuit: Distressed Hospitality PropertiesModerator - Philippe Phaneuf, Shareholder, GREENBERG TRAURIG

Robert Hazard, Vice President of Acquisitions & Development, HERSHA HOSPITALITY TRUST

William Hoffman, President & CEO, TRIGILDRobert Stiles, EVP & Principal, Head of Western Region, CUSHMAN WAKEFIELD

The hospitality sector is considered by some to be both volatile and tricky presenting distinct challengers to services, lenders and investors alike. Of late, however, some are beginning to ask if these sectors are starting to improve and, all things considered, if things are “looking up.” As sales and travel being to tick up, will the distressed opportunities decrease?

3:15PM

Refreshment Break in Exhibit Hall

3:45PM

The Real Estate Capital Markets: Raising Capital for Distressed AcquisitionsModerator - Mark Levinson, Shareholder, GREENBERG TRAURIG

Mark Omid Bolour, CEO & Principal, BOLOUR ASSOCIATESSteve Fried, Principal, MESA WEST CAPITALRaymond Lowe, Senior Vice President,

WELLS FARGO REAL ESTATE BANKING GROUPJoel Mayer, Director, Head of Retail, ROCKWOOD CAPITALMark Strauss, Managing Director and Partner, COHEN FINANCIAL

The real estate capital markets continue to play the role of bottleneck in the gameof acquisitions cat-and-mouse. While debt is readily available for performing multi-family and Class-A office building assets, it gets pricey and more difficult to obtainfor almost all other real estate asset classes.

This session will answer questions such as: How much longer will current deleverag-ing process continue? What is the current outlook for the California market in comparison to the nation? What is the outlook for the foreseeable future? And, what are today’s best ways to take advantage of the current and future waveof distressed real estate assets?

4:30PM

“L.A. Residential”: Opportunities in Multifamily, Condo, and Single-family propertiesModerator - Richard Gollis, Co-Founder & Principal, THE CONCORD GROUP

Stephan Kachani, Vice President, LOAN OAK FUND LLCAlan Mark, Founder & President, THE MARK COMPANYScott McClave, Acquisitions Principal, THE BASCOM GROUPGregor Watson, Principal, MCKINLEY PARTNERS

California is “rich” with foreclosed homes and “broken” residential developments.Acquisitions teams are sweeping through, looking for the best deals. At the sametime, multifamily assets are relatively robust and performing as former home owners revert to renting. Consequently, markets are returning to “normal” as investors and acquisitions professionals increasingly work directly with borrowers and their representatives, and in California, receivers continue to be a productive source of deal flow.

5:15PM

Closing Chairperson RemarksRyan Slack, CEO, GREENPEARL EVENTS

5:30PM

Cocktail Reception in Exhibit Hall

6:30PM

Summit Concludes

Enjoy Los Angeles!

THANK YOU TO OUR MEDIA ARCHIVE SPONSOR

Photos, presentations, and audio recordings will be available after the event.

Please visit greenpearlevents.com/pastevents

after March 3, 2011 and click on Distressed Real Estate Summit -

California “Media Archive.”

And, to continue conversations with those you have met today

and past attendees of

DISTRESSED REAL ESTATE SUMMITS,

be sure to join the GreenPearl EventsDistressed Real Estate group on LinkedIn.