Frederick D. Bernson is the Dallas-based BMC Capital's newest vice president and Julia Milloy has come on board as a loan officer. They worked for Lehman Brothers SBF's' New Mexico office in Albuquerque before joining BMC. Lehman Brothers SBF is a wholly owned subsidiary of Lehman Brothers Holdings Inc. of New York City, which couldn't be reached for comment prior to deadline.
Bernson's background and longevity in the industry were two reasons why he appealed to BMC's management. "He's one of the best-known participants in that market," says Jonathan Morris, president of BMC Capital. "He was a senior person at Lehman Brothers. He ran that market for Lehman." Bernson's background in banking also is an enormous assistance, Morris adds.
Morris tells GlobeSt.com that BMC's decision to open an Albuquerque office was a no-brainer, given the amount of activity in the area. He says there has been a great deal of demand to finance deals ranging from $500,000 to $10 million, which is where BMC's expertise lies. BMC provides financing for multifamily, commercial and hospitality investments and developments.
"Before the Albuquerque office opened, loans in that area were handled by scattered offices around our system," Morris explains. "But when local staff visits the property, it helps us make more loans and leads to better lending decisions. It's great to have someone there full time to develop that market." Morris says the Albuquerque office at 4801 Lang Ave. has just opened, but Bernson and Milloy already have five pending deals.
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