Global CMBS & CRE CLO
- What is the credit outlook for European & US property markets?
- What are key credit drivers for European & US CMBS in 2021?
- What will be the composition and credit quality of CRE CLOs in 2021?
- How will delinquency rates and credit of existing CMBS deals be impacted in 2021?
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Keith Banhazl is a Managing Director within the Structured Finance Group and leads the US CMBS and CRE CDO/CLO Surveillance team that includes Conduit/Fusion,Large Loan/Single Borrower, Credit Tenant Lease, Small Balance Commercial, CRECDO, CRE CLO and other structured products at Moody’s Investors Service.In addition, Mr. Banhazl oversees the review of primary US CRE CDO/CLO transactions, including the credit assessment team for commercial real estate assets within CRE CDO’s and CLO’s as well as Structured Credit transactions. He is also Moody’s Global Structured Finance Outreach Coordinator. He has been involved in various research initiatives and outreach activities related to the CRE securitization space, publishing and speaking on Moody’s behalf.
Prior to being appointed to his current position, Mr. Banhazl was a team leader within the CMBS Surveillance group focusing on Conduit/Fusion and Large Loan/Single Borrower transactions. Previously at Moody’s, he rated various fixed and floating-rate Conduit/Fusion and Large Loan CMBS transactions. Mr. Banhazl has a Bachelor of Arts degree from Brown University in Economics and History.
Kevin Fagan is Vice President and Senior Analyst in Moody’s CMBS ratings group, responsible directing CMBS and CRE research endeavors. In this capacity, Mr. Fagan oversees production of CMBS and CRE research publications, methodologies, database and product development, and strategic initiatives for the CMBS group. Prior to joining Moody’s and working in structured finance, Mr. Fagan held CRE research roles at ING Clarion and Jones Lang LaSalle. He was also a professional engineer for eight years, designing commercial buildings in Southern California. Mr. Fagan holds an M.S. in commercial real estate development and finance from the Massachusetts Institute of Technology and a B.S. in architectural engineering from the University of Texas at Austin.
Matthew Halpern is a Vice President, Senior Credit Officer within the Structured Finance Group at Moody’s Investors Service. He is a team leader within the CMBS Surveillance group focusing on U.S. Conduit/Fusion and Large Loan/Single Borrower transactions. In addition, Matthew is involved in managing the surveillance review of credit assessments for commercial real estate assets within CRE CDO’s and CLO’s as well as Structured Credit transactions. Matthew also has experience rating new CMBS and CRE CDO transactions, and is a contributor to various commercial real estate research initiatives. Prior to joining Moody’s, Matthew worked in the Structured Finance group at Ernst &Young. Matthew graduated from the School of Hotel Administration at Cornell University with a Bachelor of Science.
Jocelyn Delifer joined Moody’s Investors Service in 2011 and currently serves as Vice President - Senior Analyst in the CMBS & CRE CDO Surveillance team. He is responsible for new issuance and surveillance of CRE CDO/CLO transactions. In addition, he contributes to CRE and cross-sector research. Prior to joining Moody’s, Jocelyn was a Vice President with Avant Capital Partners, where he oversaw the underwriting and placement of CRE bridge loans. He also served as an analyst for Euro hypo AG in Paris. Jocelyn holds an M.S. in Engineering from École Nationale des Ponts et Chaussées, and an M.S. in Real Estate from New York University Shack Institute of Real Estate.
Sarwesh Paradkar is an Assistant Vice President – Analyst within the Structured Finance Group at Moody’s Investors Service. He is currently a lead analyst in the EMEA CMBS team focusing on ratings of new transactions, monitoring existing transactions and sector/asset class developments. Sarwesh has more than 10 years real estate experience and is one of the point persons for the EMEA CMBS methodology and models.
Prior to Moody’s, Sarwesh worked in the real estate division for Procter & Gamble. Sarwesh holds an MS in Real Estate from Massachusetts Institute of Technology, and both an MTech in Computer Integrated Manufacturing and a BTech in Mechanical Engineering from the Indian Institute of Technology Bombay.
Deryk Meherik joined Moody’s Structured Finance Group in 2003 and is currently a team leader within the CMBS & CRE CDO Surveillance team. He also oversees the review of primary US CRE CDO/CLO transactions. In addition, he contributes to CRE
Deryk has authored or co-authored three global rating methodologies including SF CDOs, SF resecuritizations, and SF interest-only securities. Prior to being appointed to his current position, he was a lead analyst within the CMBS & CRE CDO primary team, where he rated various fixed and floating rate CMBS and CRE CDOs transactions. Additionally, Deryk has rated primary Structured Credit transactions. Prior to joining Moody’s, Deryk was a CRE acquisition and research analyst for a private New York based real estate firm. Deryk holds a dual M.S. in civil engineering and real estate development from the Massachusetts Institute of Technology, and a B.A. from the University of Calgary.