Ten years ago, JPMorgan Chase acquired Washington Mutual and along with it, $30 billion of mortgages on apartment buildings, which had earned strong returns despite how the economy was doing. Fast forward to today, JPMorgan Chase has more than doubled its balance sheet and is one of the biggest multifamily US lenders. GlobeSt.com exclusively caught up with Al Brooks, JPMorgan Chase's head of commercial real estate, to talk about how the company is making strides in innovating and improving the business for real estate investors since the acquisition, what the current lending landscape looks like and the 2019 outlook.
GlobeSt.com: How has JPMorgan Chase grown the CRE business since the 2008 acquisition?
Al Brooks: When I joined JPMorgan Chase, I was blown away by the solutions the firm offers its clients and its impressive fortress balance sheet. In every single market we serve across our three commercial real estate businesses—commercial term lending, real estate banking and community development banking—we've made strategic investments, developed a strong team and work with great clients enabling us to grow the business. Today, we're the fastest organically growing CRE business in banking and the No. 1 multifamily lender in the US. It's a testament to our commitment to our clients, deep industry knowledge and ability to provide real estate investors, developers and property owners with a full suite of financial solutions—including cash management, investment banking and private banking, among other solutions.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
