Preliminary Agenda Topics

U.S. banks hold about $3 trillion in commercial real estate loans, most of which were originated prior to the 2022 spike in interest rates and now need to be refinanced at much higher rates. This presentation will explain how we got here and what are the likely consequences for the rest of 2026.

• What have the majority of your deals looked like in the past 6 months? What is the outlook for 2026? Which asset classes and markets? What are you most worried about ?
• To what degree have you seen real distressed opportunities in the past few months?
• Election effects on CRE market
• How do you expect volume to change in the coming year? Pricing ? Strategies?
• Regulatory changes coming down the pike and impact on business
• Which specific workout remedies are banks currently employing?
• When forbearance does not suffice, what are next steps to achieving a more complex workout?
• By region and sector, what does the outlook for special assets look like?
• How is demand changing for C&I vs. real estate vs. agricultural vs. auto and other loans? How have you adjusted your definition of “distressed” in each of these categories?
• What role does climate risk play in your portfolio management strategy?
• Which new risks will pose the greatest threats to your balance sheet?
• Are you getting personal guarantees?
• When a simple loan extension does not suffice, what are next steps to achieving a more comprehensive resolution? What was the tipping point issue?
• Underwriting the sponsor – has that become more important in the past year?
• What is your company’s experience related to receivership related to different geographies?

• Which new risks are facing commercial real estate loans and what impact will this have on special servicing?
• How is the relationship changing between borrowers, lenders and servicers?
• To what extent have lenders shifted from forbearance, deferment, etc., to enforcement of remedies through foreclosure or loan sale?
• What creative workout scenarios are borrowers and lenders discussing? What is actually being agreed upon? What happens once the forbearances/seasonality reserves or other reserves run out?
• How does turnaround and workout activity vary by sector and geography? What do distressed asset owners need to know when considering a workout?
• What are your predictions for distressed deal flow and default rates? How is this informing your risk management strategy?
• What impact do federal income tax considerations have on the structure of a workout?

• 2026 & Beyond: Market Projections for CRE Debt – “Surveying the field”
• Bankruptcy vs. Receivership; CHOOSE – “From Rookie to MVP”
• The Games (Borrowers) people play- “Winners and Losers”
• Different Types of Auctions and which one to use in a Receivership-“Play-action”
• Situation-Assessment-Plan (SAP method). – “Game Plan- In the trenches”
• Case Studies- What we learned (Examples) “Playbook”

• Why most distressed exits default to the same few tools
  And how that reflex — while understandable — often leaves recovery upside on the table.
• How to recognize when speed is protecting value versus destroying it
  Not all fast exits are bad — but not all urgency is rational. We’ll show how to tell the difference.
• Which exit paths actually favor secured lenders — and which quietly don’t
  Using the 16 Ways framework, we’ll separate lender-friendly structures from those that shift value away from the bank.
• How to preserve optionality early — before the exit decision is forced
  Why the best recoveries often come from decisions made months before a formal sale process begins.
• When waiting improves recoveries — and when it simply increases risk
  This is not about “hoping things get better,” but about knowing when stabilization creates leverage and when it doesn’t.
• How leading Special Assets teams think differently about exits
  What sophisticated banks do to engineer better outcomes — even in credits that ultimately must be sold or liquidated.

• Traditional sectors like retail, hospitality, and commercial real estate remain under pressure. How are these sectors trending nationally? Florida specific trends?
• New areas of distress include infrastructure debt, renewable energy projects, and logistics real estate, driven by tariff changes and supply chain disruptions. How does this effect your business?

• Identifying Distressed Opportunities: How to spot undervalued or distressed assets across sectors such as commercial real estate, retail, energy, and technology.
• Deal Structuring & Due Diligence: Best practices for evaluating risk, structuring transactions, and navigating complex capital stacks.
• Regulatory & Legal Considerations: Insights into bankruptcy proceedings, liability management, and compliance challenges.
• Post-Reorg Strategy: Managing assets post-acquisition, including operational turnaround, governance, and exit strategies.
• Market Outlook: Predictions for distressed markets in 2026 and beyond, including the impact of interest rates, inflation, and geopolitical shifts.

• Leveraging machine learning to flag at-risk loans and assets before traditional indicators surface.
• Automated Valuation & Underwriting: Using AI to assess distressed asset value and risk profiles in real time.
• Sentiment & Market Analysis: Applying natural language processing to news, filings, and social media for predictive insights.
• AI in Restructuring & Bankruptcy Strategy: Enhancing legal and financial modeling for Chapter 11 scenarios.
• Addressing transparency, bias, and compliance in AI-powered investment decisions.

• How has SBA loan volume been trending in the past year?
• What are the unique challenges associated with SBA loan workouts?
• How are you evaluating loan applicants in today’s market?
• What impact will SBA rules have on your loan portfolios and risk management strategy?
• How may regulatory changes impact the outlook for SBA lending? What new risks are on the horizon?
• In what ways are you integrating and utilizing technology to better serve your borrowers?

• What are the legal requirements for filing an involuntary bankruptcy and pre-filing considerations that need be vetted to properly assess the risks and rewards of this seldom-used strategy?
• What are the lesser-known tactics debtors may use to thwart an involuntary bankruptcy? What reputational issues could arise from a failed attempt, including potential sanctions?
• How can you best manage the creditor process? What methods are most effective at identifying and avoiding unintended consequences while the bankruptcy proceeding is pending?
• How has the outlook changed for receiverships as a workout remedy?
• Which asset classes and markets have been most significantly impacted in the past year?
• What are some of the lesser-known challenges and keys to success in executing receiverships?
• What questions should you be asking your receiver?
• What do all parties need to know about the initial receivership order, powers and authorities and reporting requirements to the court?
• Lessons learned from more complex or less successful receiverships?

• What is deal flow like right now and how are you sourcing deals?
• What asset types are you buying and looking to buy? Which markets are you focused on for hospitality and retail transactions? Florida market ?
• What sectors present the best opportunities for long-term growth, and which are you steering clear of?
• Which risks will have the greatest impact on your buying strategy?
• What kinds of pricing are you seeing for discounted sales?
• How do you negotiate with banks of varying size and reach? What unique challenges and opportunities does each type present?
• Are you partnering with non-bank lenders? Why or why not?
• What is the best deal you have bought into recently? Succes/failure stories?

• How has recent retirements in the workout groups changed the future landscape of the workout industry? Or will it?
• How are the workout groups structured in your institution? Are they specialized specific like C&I and CRE? Are they structured by small business, middle market and large corporate segments?
• How is your institution preparing for succession planning?
• How long does it take to train a young workout officer?
• Why should having workout experience matter to any Bank?
  • What are some of the down sides to not having a “deep bench”?
• How do Banks realize the benefits of spending the money to attract, retain and train experienced workout professionals?
• What does it mean to a consultant or attorney when dealing with a seasoned workout officer vs. someone green?

• What does issuance look like in 2026? CMBS Market Update?
• What percentage of CMBS debt across asset classes and urban markets is in delinquency or special servicing?
• How is forbearance, default and discounted loan sales activity changing?
• In what ways have workout/modification strategies changed in the past year as the pandemic recovery has progressed? Which asset classes have seen most tolerance from lenders to working with borrowers?
• What impact is the remote/hybrid work trend having upon CMBS given office comprises a significant portion of the underlying collateral?
• How are properties with shorter leases being handled, in comparison?
• Which property types are best positioned for future CMBS originations?

• What strategies are investors and lenders employing to find value in the current environment related to office & hotels?
• What is the outlook for distressed activity in the office & hotel sector for the next 6-12 months?
• Which capital sources are most attractive right now for owners?
• How are terms changing for preferred equity, senior and mezzanine debt?
• What has the recovery looked like for different hotel property types in the past year? Independents, brands, luxury, motels, resorts etc.
  Identifying and evaluating value-add opportunities in the hospitality sector
• How will short-term rentals(Airbnb etc.) impact the hotel industry moving forward?
• What strategies are investors and lenders employing to find value in this environment?
• Which capital sources are most attractive right now for owners?
• Which office markets have rebounded, and which are struggling? Florida market ?
• What is occupancy like in primary and secondary markets? Older vs. newer Class A buildings and suburban vs. urban assets?
• What can we expect to see in distressed opportunities in the near future?
• Identifying and evaluating value-add opportunities
• What strategies are investors and lenders employing related to office and hotels?
• What kinds of hotel receivership deals are you encountering now?
• Which hotel asset classes and markets have been most significantly impacted in the past year?

• What are smaller banks and credit unions doing to grow their books of business? Is M&A an appealing alternative in this environment?
• How are they appealing to Millennials/Gen Z? What sort of experience and service do they need to stay competitive?
• Community Banks may have more variety than Credit Unions, but how do they settle on their specialty? Does AI/technology make it easier to remain profitable?
• What legal issues do community banks, regional banks and credit unions face that are not a consideration for larger banks? Recent case studies from bank failures?
• Are community banks still essential?

• What are current credit conditions? What is current attitude of regulators toward C&I loans? Do you see things tightening up or relaxing? What does this indicate for the market as a whole? Pricing?
• What are your new strategies towards C&I ?
• What new risks are facing C&I loans in existing bank portfolios as a result of rising interest rates and compression of borrowers’ operating margins?
• What types of workout and exit strategies are being employed by lenders in regard to non-performing C&I loans, and to what extent do lenders seek to involve third party turnaround professionals in C&I loan workout and exit strategies?
• To what extent are lenders shifting from forbearance to enforcement of remedies and active loan workout in regard to non-performing C&I loans?
• Which new risks are facing C&I Loans in the current environment in your existing portfolio?
• What is the current borrower appetite for non-bank sources of capital? What is liquidity like in the non-bank market?

• How has the volume of litigation changed in the past year? Where are you targeting cases of distress? What deals are closing, what are the obstacles?
• Understanding the costs and time associated with litigation. How much is this going to cost? How long is this going to take? How do I prepare for this? Lessons learned?
• What non-litigious alternatives are available in various situations?
• When might litigation be necessary? What are the best and worst possible outcomes? How do you evaluate your potential litigator? How do you devise a strategy?
• What strategies are lenders using successfully to work creatively with borrowers and avoid foreclosure or notes sales?
• How do in-house counsel work with the Special Assets department to decide which outside counsel to retain?

• Recent Private Credit Trends & Structures
• Fund structure & tax considerations for your portfolio, what to consider?
• Regulatory trends/credit transactions
• How does private credit relate to distressed debt & distressed opportunities?
• Mezzanine, Second Lien Debt and Preferred Equity
• Restructuring situations best practices
• Risk Management
• Acquiring distressed debt & what to do with it
• Traditional bank lending decrease, more private credit in future?