Media Teleconference to Examine the Future of Real Estate Industry Distress

Issue:

Distress in the real estate industry continues to be felt around the world. The liquidity that was once available for residential and commercial real estate projects and financing just a few months ago has evaporated, foreclosures continue to increase and the financial institutions that held the debt associated with the housing boom continue to buckle under the financial strain. A panel of experts specializing in real estate company bankruptcies will discuss the latest problems in this sector, as well as the outlook for the real estate industry.

Who:

Speakers for the program include experts in the field of restructuring distressed real estate companies:

• Rebecca Roof is a managing director at AlixPartners (New York).
• Harold Bordwin is a managing director and co-group head of the real estate services team at KPMG Corporate Finance/Keen Consulting (New York).
• Greg Apter is a Principal and President of Hilco Real Estate (Chicago).

Background:

The U.S. real estate sector continues to weather the market correction that started with the subprime mortgage downturn in 2006. Government efforts this year, such as the $300 billion housing rescue package and the $200 billion takeover of housing finance firms Fannie Mae and Freddie Mac, have not pulled the housing sector out of its tailspin. Faced with increased foreclosures as adjustable-rate mortgages continue to reset, a greater supply of housing on the market, increased vacancy rates for commercial properties and tighter access to credit, the real estate sector faces significant challenges.

The teleconference will feature top experts who have worked with financially distressed real estate companies and lenders discussing the current situation of the real estate industry, as well as their views on future trends and prospects for improvement in the sector.