4 Real

This year's CREFC Annual Conference drew standing-room-only panels, a sign that the market has given industry leaders plenty to talk about. In this episode of Dechert's 4 Real podcast, host Jon Gaynor and series producer Stewart McQueen sit down with Lisa Pendergast, President and CEO of CREFC, to break down the conference's biggest themes and where she thinks the industry will go from here.

Plus, Lisa shares what she's most proud of building over the last 10 years and the hosts find out who the "green thumbs" of the group are.

What if the insurance program you thought was protecting your deal is actually what's putting it at risk? In this episode of our 4 Real podcast, hosts Jon Gaynor, Sam Gilbert and Kate Mylod sit down with Emily Rasmussen, President and COO of Resilience Insurance Analytics, to break down what lenders, borrowers and attorneys need to know about property insurance in commercial real estate today. The hosts also explore the Basel III endgame re-proposal, and take a turn down memory lane to discuss childhood vehicles and names of their cars.

In this episode of Dechert 4 Real, hosts Jon Gaynor and Sam Gilbert welcome Moody’s Ratings’ SVP and former Dechert lawyer Dan Rubock to the podcast for an in-depth look at his career shaping how the agency evaluates the legal architecture of CMBS deals. They also go extra innings on insurance risk, data centers, Canadian CMBS and AI, and share some favorite sports memories.

Artificial intelligence is everywhere, but aren’t the implications for commercial real estate limited to data centers? In this episode, 4 Real hosts Jon Gaynor and Sam Gilbert sit down with Dechert litigation counsel Wilfred T. Beaye, Jr. for the AI breakdown that every CRE decision-maker needs to hear, including where AI can be most powerful, why governance is lagging behind development, which property classes will be most impacted and how companies can protect themselves from liability.

Which CRE discussions energized the record-breaking and decidedly optimistic attendees at this year’s CREFC Conference in Miami? In this special edition of Dechert’s 4 Real podcast, Matt Armstrong, Jon Gaynor, Sam Gilbert, Stewart McQueen and Kate Mylod dive into the overall mood of the conference – which signaled resilience in the market despite geopolitical risks – as well as property performance, the issuance outlook for 2026, the continued rise of data centers, how private credit is filling gaps where banks and public markets are constrained and more.

In our final episode for 2025, Dechert 4 Real hosts Jon Gaynor and Sam Gilbert are joined by corporate partner Ross MacConnell for an inside look on rated funds and their intersection with commercial real estate. Plus, we get into the 411 on the New York LLC Transparency Act and share our favorite holiday movies.

In our 28th episode, Dechert 4 Real hosts Jon Gaynor and Kate Mylod sit down with Richard Flohr of CrossHarbor Capital Partners for a discussion on all things transitional lending, including construction financing and Richard’s passion for industrial CRE. Plus, Dechert partner Mauricio España stops by with the 411 on recent cases involving Western Alliance and Zions Bank, and the group gets “4 Real” about Thanksgiving day Turkey Trots.

What’s driving the robust and very competitive transitional multifamily real estate market? In this episode of 4 Real, hosts Jon Gaynor and Matt Armstrong highlight changes and emerging opportunities in this market with Russell Avery, Managing Director at Limekiln Real Estate Investment Management and Head of Capital Markets for their MF1 joint venture with Berkshire. The conversation explores the surge in construction-takeout and bridge-to-bridge loans, competitive dynamics between bank warehouses and CRE CLOs, as well as capital market trends like spread compression, term-out facilities at the end of a CLO life and repo financing. Plus, Dechert tax partner Will Cejudo breaks down Pancake REMICs, an innovative tax structuring tool poised to reshape deal execution across CRE finance. 

Show Notes 

• Dechert Develops REMIC Structure for Longer Investment Periods (“Pancake REMIC"), Dechert OnPoint (September 15, 2025)

How does fund finance fit into leading investment firms’ broader lending strategies? In this edition of Dechert’s 4 Real podcast, hosts Jon Gaynor and Stewart McQueen sit down with Missy Dolski and Jim Dunbar of Värde Partners to discuss the launch of Värde’s new fund finance platform, CRE CLO collapses, areas of distress in real estate, issuance trends, opportunities on the horizon and much more. Plus, Jon and Stewart share the 411 on the recent data center boom.

Show Notes

• The Download on Data Centers, U.S. Election Ripple Effects and Disney Vacations, Dechert 4 Real (Oct. 29, 2024) 

What is driving the uptick in real estate M&A activity? Dechert 4 Real hosts Jon Gaynor and Sam Gilbert sit down with global finance partner Justin Gdula to discuss the mechanics of real estate-backed M&A transactions, the factors that led to their resurgence, the challenges lenders and borrowers face in navigating these complex deals and the critical elements that ensure successful closings. Plus, Dechert associate John Ludwig-Eagan gives the 411 on the SEC’s EDGAR system revamp coming in September.

Show Notes:

• EDGAR Next: What Filers Need to Know and How They Can Prepare, Dechert OnPoint (March 11, 2025)
• U.S. SEC EDGAR Next Enrollment FAQ