J.P. Morgan has also hired Kelly von Schmid as a commercial real estate originator. In this role, Schmid will source new lending opportunities on behalf of commingled funds and separate accounts managed by J.P. Morgan Asset Management. Prior to joining the bank, she spent more than a decade at BBVA USA, where she most recently served as CRE relationship manager.
The move is in line with the expansion of J.P. Morgan’s commercial mortgage loan (CML) business, which has doubled its assets under management to $7.6 billion over the past several months. The CML group is on track to reach $10 billion in assets in 2022, according to a release.
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“Our commercial mortgage loan business has grown significantly over the past year, with strong investor demand for these strategies driven by the attractive yield premiums and diversification potential offered relative to investment-grade corporate bonds,” said Jay DeWaltoff, head of commercial mortgage lending at J.P. Global Morgan Alternatives. “J.P. Morgan’s CML team has a unique ability to deliver end-to-end lending solutions to borrowers, allowing us to be nimble in executing deals. The addition of Kelly to the team will further build on our deep origination capabilities, which has delivered strong performance through the COVID pandemic.”