Key Takeaways
- • CREW Miami convened over 80 commercial real estate professionals on May 13, 2026, to discuss fund structuring, investment strategy, sponsor operations, and capital deployment in an increasingly selective lending environment.
- • Sponsors are shifting toward layered capital structures—including preferred equity and mezzanine financing—as traditional lending conditions tighten, signaling a structural change in how real estate funds access capital.
- • Investor evaluation criteria are hardening around operational expertise, sponsor track record, and long-term asset management capabilities, elevating non-financial factors in deal selection.
- • Panel expertise spanned accounting, legal advisory, investment strategy, and sponsor operations, offering institutional perspectives across the full spectrum of real estate fund operations.
Summary
Commercial Real Estate Women Miami (CREW Miami) hosted a breakfast panel titled "Navigating Real Estate Funds: From Structure to Sponsor Execution" on May 13, 2026, at Hotel Colonnade Coral Gables, drawing more than 80 participants from the commercial real estate sector. The program addressed critical topics including fund structuring, investment strategy, sponsor operations, legal frameworks, and capital deployment strategies within the current market environment.
The moderator, Karla Damas of Cherry Bekaert, led a discussion featuring Silvia Fernandes (Chief Legal and Operating Officer, ARCTRUST), Galina Churchill (Vice President, Investments, Pensam), and Danielle C. Price (Partner and Co-Head Emerging Companies and Venture Capital Practice – South Florida, Holland & Knight LLP). This composition provided institutional perspectives across accounting, legal advisory, investment strategy, and sponsor operations.
Two central themes emerged from the panel discussion. First, panelists highlighted that sponsors are increasingly adopting layered capital structures incorporating preferred equity and mezzanine financing vehicles. This shift reflects tightening conditions in traditional lending markets, forcing fund sponsors to diversify their capital sources and structure offerings to meet investor risk-return preferences. Second, panelists emphasized that investors are placing greater weight on sponsor operational expertise, historical track record, and demonstrated long-term asset management capabilities when evaluating real estate opportunities. This signals a market transition away from leverage-driven underwriting toward sponsor quality and operational execution as primary determinants of investment merit.
The moderator, Karla Damas of Cherry Bekaert, led a discussion featuring Silvia Fernandes (Chief Legal and Operating Officer, ARCTRUST), Galina Churchill (Vice President, Investments, Pensam), and Danielle C. Price (Partner and Co-Head Emerging Companies and Venture Capital Practice – South Florida, Holland & Knight LLP). This composition provided institutional perspectives across accounting, legal advisory, investment strategy, and sponsor operations.
Two central themes emerged from the panel discussion. First, panelists highlighted that sponsors are increasingly adopting layered capital structures incorporating preferred equity and mezzanine financing vehicles. This shift reflects tightening conditions in traditional lending markets, forcing fund sponsors to diversify their capital sources and structure offerings to meet investor risk-return preferences. Second, panelists emphasized that investors are placing greater weight on sponsor operational expertise, historical track record, and demonstrated long-term asset management capabilities when evaluating real estate opportunities. This signals a market transition away from leverage-driven underwriting toward sponsor quality and operational execution as primary determinants of investment merit.
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