Black Bear Capital Partners expands Chicago office

Suraj Desai

Black Bear Capital Partners has expanded its Chicago office with the addition of veteran real estate finance advisor Suraj Desai, who joins as a senior managing director. Desai adds to the newly formed Chicago office which also includes Eric Trombly, Matthew Stearns, Raymond Zanca, Scott Modelski, Zach Fitzgerald and Sam Koziol.

In his new role with BBCP, Desai is primarily responsible for the sourcing and execution of structured debt and equity transactions across all geographies and asset classes, with a focus on hospitality.

Desai previously held senior positions at Chicago-based Alpha Capital CRE and Mag Mile Capital, where he originated more than $250 million in debt and equity transactions.

BBCP, which services transactions across all property types, has closed more than $1 billion in numerous complex refinancing packages in the last year alone. The firm also recently expanded its presence with new offices in Chicago and New Jersey, along with plans to add additional new hires at the senior level as part of its strategic initiative to service changing demands for capital resulting from COVID-19 real estate dislocations.

In Chicago, Desai joins a BBCP team that is already off to a strong start in the new year having closed $43.6 million in transactions over the past several weeks.