RELA marks more than a decade of financial leadership.

In the immortal ending words of Hill Street Blues: "Be careful out there." With the economic slowdown, strategic investments being put on hold, the ongoing war on terrorism, interest rates at an all-time low, vacancy rates rising, retail suffering and buyers on the prowl, we are living in interesting times for New York City real estate.

Whether high market or low, jet-fueled or stagnant, the wheel of real estate fortune is oiled by lenders -- investment banks, commercial banks, savings banks, insurance companies, pension funds, Wall Street conduits and equity providers.

How do they keep pace with the current state of real estate finance? One important way for many is membership in RELA -- Real Estate Lenders Association -- which provides real-time information on the state of the industry. That currency of information is then enhanced by the superb networking opportunities within RELA's exclusive lenders-only membership where any member is a question away from receiving expert advice on anything from structuring a transaction to dissection of the latest market news.

Founded in 1991, as the industry was digging out of an extremely difficult period for real estate lending, RELA filled a much needed gap in New York City where there was, prior to its inception, no organization that focused on the specific needs of lenders. Just over a decade later, the organization has grown from 26 real estate lending professionals who met to explore the viability of its formation, to over 250 professional members representing an impressive roster of more than 100 financial institutions and equity providers.

From an initial membership of commercial banks, savings banks and insurance companies, in the ensuing years, RELA opened its ranks to include Wall Street conduits and then, in 1999, to equity providers. Membership is exclusively limited to the aforementioned categories, the better to focus on sharing indepth information that is specific to the needs and concerns of capital providers and to avoid the dilution of focus that can occur when members or associate members seek to sell goods and services to core membership.

RELA has built a solid reputation for excellence in member benefits and programs, all targeted to covering every aspect of real estate finance. From discussion of the U.S. economic outlook and its impact on the real estate market, to Standard & Poor's market perspectives, Moody's Investor Services' analyses, the effect oft errorism insurance on the market, the REIT equity market and what is really happening in the New York commercial real estate market, RELA's speakers and members have their finger on the financial pulse of one of the world's most real estate-driven cities.

RELA's programs includes breakfasts held at the Sky Club atop the Met Life Building as well as luncheons, all featuring prominent New York City real estate industry speakers. Attendance at these events is open to all real estate lenders and equity providers, not only members of RELA. Other programs include educational seminars and brown bag lunches and well-attended special events. RELA's January New Year's networking party, annual golf outing and fall networking reception (co-hosted with the Mortgage Bankers Association of New York) are open to the real estate industry at large.

This fall, RELA will partner with the Metropolitan New York Chapter of the Appraisal Institute in a high profile event at the Hotel Pierre that includes co-hosting a luncheon with former governor Mario Cuomo as guest speaker, followed by a symposium.

RELA has also recently added a new member service, that of the RELA member job bank easily accessed via the group's website (www.rela.org). Perhaps the most important testimonial to RELA's value comes from its members who value the exclusivity of its membership, saying that the knowledge and key industry relationships acquired through the group are invaluable in their ability to gain in-depth market understanding, acquire knowledge of the players in the industry as well as acquire business, and do it all in an environment that encourages learning and the sharing of ideas and information.