JP Morgan Builds Commercial Mortgage Loan Team with New Hire

JP Morgan has also hired Kelly von Schmid as the commercial real estate originator. In this role, Schmid will procure new credit opportunities on behalf of mixed funds and separate accounts managed by JP Morgan Asset Management. Before joining the bank, she worked for BBVA USA for more than a decade, most recently as a CRE Relationship Manager.

The move is in line with the expansion of JP Morgan’s commercial mortgage lending (CML) business, which has doubled its assets under management to $ 7.6 billion in the past few months. According to a press release, the CML group is well on its way to reaching $ 10 billion in net worth by 2022.

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“Our commercial mortgage loan business has grown significantly over the past year, with strong investor demand for these strategies being driven by the attractive spreads and diversification potential of investment grade corporate bonds,” said Jay DeWaltoff, Head of Commercial Mortgage Lending at JP Global Morgan Alternatives. “JP Morgan’s CML team has a unique ability to deliver end-to-end loan solutions to borrowers that allow us to execute transactions flexibly. The addition of Kelly to the team will further develop our deep origination capabilities, which have performed strongly during the COVID pandemic. “

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