Felsot: “As the world's sixth-largest economy, California comprises many types of diverse and thriving industries generating numerous jobs for a lot of people, fueling the continued need for housing, retail, industrial and office development.”
NEWPORT BEACH, CA—JPMorgan Chase is reinforcing its dedication to California, planning to expand into new locations here and add to its origination team in Orange County, Los Angeles and San Francisco, Matt Felsot tells GlobeSt.com. Felsot was recently promoted to market manager for the firm's California real estate banking business to lead that group's strategic efforts in California, working with top-tier real estate developers, investors and operating companies on their financing needs including term debt, repositioning and construction loans, revolving lines of credit and subscriptions facilities. He will also be responsible for expanding the business and hiring top talent.
Felsot has 19 years of commercial real estate finance experience and has held a variety of positions in the industry, including regional sales manager roles in multifamily lending and head of real estate owned in the Western US. He was recently appointed head of owner-occupied real estate, a joint venture between commercial real estate and the firm's middle-market banking business.
We spoke exclusively with Felsot about his goals in his new position and some of the challenges and opportunities he's noticing n the California real estate financing market.
GlobeSt.com: What are your goals in your new position with JPMorgan Chase?
Felsot: I am really excited about this new role, and it exemplifies our firm's commitment to California. Our goals are to continue to selectively grow by adding to our origination team in Orange County, Los Angeles, and San Francisco and work with experienced developers, property owners and investors that have a long track record of bringing value to our communities. We are also focused on delivering a quality experience and an efficient loan process to our clients as well as offering the breadth of our firm's financial-services capabilities.
GlobeSt.com: What are some of the challenges and opportunities you're noticing in the California real estate financing market?
Felsot: While some view the economic cycle as mature, California has a dynamic and vibrant economy with opportunities available in all phases of the cycle. JPMorgan is well positioned to be there for our clients no matter what inning we're in.
GlobeSt.com: What makes California a unique market for the real estate industry?
Felsot: As the world's sixth-largest economy, California comprises many types of diverse and thriving industries generating numerous jobs for a lot of people, fueling the continued need for housing, retail, industrial and office development. JPMorgan has the incredible opportunity to partner with developers who are literally shaping the future of our cities.
GlobeSt.com: What else should our readers know about your new role at JPMorgan Chase?
Felsot: We are reinforcing our dedication to California and are looking to hire top talent, expand into new locations and most of all, help our clients with their financing needs.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
