JP Morgan bolsters its commercial mortgage team with new hires
JP Morgan has also hired Kelly von Schmid as a commercial real estate originator. In this role, Schmid will find new lending opportunities on behalf of combined funds and separate accounts managed by JP Morgan Asset Management. Prior to joining the bank, she spent more than ten years at BBVA USA, where she most recently held the position of CRE Relationship Manager.
The move is part of the expansion of JP Morgan’s commercial mortgage lending (CML) business, which has doubled its assets under management to $7.6 billion in recent months. CML Group is on track to reach $10 billion in assets in 2022, according to a statement.
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“Our commercial mortgage business has grown significantly over the past year, with strong investor demand for these strategies, driven by the attractive yield premiums and potential for diversification offered against higher quality corporate bonds. “said Jay DeWaltoff, head of commercial mortgages at JP Global Morgan Alternatives. “JP Morgan’s CML team has a unique ability to provide end-to-end lending solutions to borrowers, allowing us to be agile in executing transactions. The addition of Kelly to the team s will further leverage our deep origination capabilities, which have delivered strong performance during the COVID pandemic.