By Joshua Burd
A real estate financial advisory firm has added two capital markets brokers in New Jersey as part of a newly announced expansion into the state.
The New York-based firm, Black Bear Capital Partners, announced Monday that it has broadened its national platform by launching offices in New Jersey and Chicago. The team of Emil DePasquale and Brandon Harris will lead the New Jersey office, having joined the firm as managing partners of BBCP with plans to hire two to three new senior advisers.
Previously with Meridian Capital Group, DePasquale and Harris will service debt and equity placement across all asset classes on a national basis, with a primary focus on the tristate area, and oversee the national expansion of BBCP.
The company also announced that the veteran capital advisory team of Matthew Stearns, Scott Modelski and Zach Fitzgerald will operate out of BBCP’s newly formed Chicago office. They will focus on commercial real estate debt and equity transactions nationally with a primary focus in the Midwest region.
“These significant new hires are part of a strategic initiative to add senior-level talent to the organization,” said Arthur D. Bellini, the firm’s CEO. “The demands for capital have changed, with investors looking to take advantage of dislocations in the real estate market and the requirement for rescue capital resulting from turmoil initiated by the COVID-19 crisis.”
BBCP will arrange financing packages from outside lenders while also accessing discretionary capital from its parent company, Black Bear Asset Management, for direct lending on a range of debt financing, according to a news release. That includes mezzanine loans, B-Notes, preferred equity and mortgages across a range of asset classes.
“As active owners, BBAM understands the importance of decisions on an expedited basis and flexible financing structures,” Bellini said. “With its fortress balance sheet and diversified revenue stream from various business lines, BBAM is committed to fund the expansion of BBCP into major metropolitan markets.”
BBCP, which services transactions across all property types, closed several complex refinancing packages in the first quarter of 2020 totaling more than $500 million, with another $1.5 billion in the pipeline.
“BBCP has achieved extraordinary growth in the past year,” said Bryan Manz, chief operating officer and New York Office head. “The opening of these new key offices strengthens our robust capital advisory platform, expands our market penetration, and highlights our firm’s ability to attract the industry’s top professionals. We are confident these new teams will continue to expand the growth of our debt and equity placement pipeline while providing personalized, best-in-class and integrated solutions to our clients.”
