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CRE Finance Council's Sargent

'Everyone would acknowledge that Washington seems to be the new center of the universe.'

By Paul Bubny | Updated on March 28, 2010

Up until earlier this month, the Commercial Real Estate Finance Council was known by the name it has gone under since 1999, the Commercial Mortgage Securities Association. The association’s new title, and the broader mandate it implies, reflects the dramatic change in the world of real estate finance since the CMSA’s founding under a different name in 1994. Namely, it has grown considerably more complex. Securitization played a key role in that, of course, but at the same time, the CMSA’s membership grew to encompass a variety of financial disciplines.

That greater scope led the CMSA’s board of governors to revamp the association into what it is now. A key component of the CRE Finance Council’s makeup is five “forums”: groups bound by their market constituencies. Within the council, there are forums for securities and loan investors, multifamily lenders, portfolio lenders, servicers and investment-grade bondholders. The intent is to have the membership of each forum interact among themselves—or with members of other forums—to address issues critical to their business sectors.

Patrick Sargent, a Dallas-based partner with Andrews Kurth LLP and president of the CRE Finance Council, believes the new structure will better serve the council’s constituency as it confronts the issues facing the industry, not least of which is the role Washington plays in its future. Sargent recently spoke with GlobeSt.com about this new direction.

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