Senior Leadership
Arthur D. Bellini
Senior Managing Partner &
Chief Executive Officer
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Arthur D. Bellini
SENIOR MANAGING PARTNER & CHIEF EXECUTIVE OFFICER
Office: (917) 810-8801
Mobile: (917) 733-3087
Mr. Bellini is a Senior Managing Partner, Chief Executive Officer, and Co-Founder of Black Bear Capital Partners (“BBCP”) and Black Bear Asset Management (“BBAM”). Mr. Bellini is responsible for the strategic direction of the company, overall management of the firm, investment activities, and financing activities across all business platforms. Mr. Bellini has broad real estate experience in acquisitions, portfolio management, and asset dispositions, participating in both equity and debt investments. His experience also includes portfolio valuations and sale assignments, public and private market capital transactions, tenant representation, direct lending, distressed real estate principal investment, and asset securitization transactions. Mr. Bellini has been responsible for the oversight of underwriting, structuring, and credit analysis of real estate investments at various financial institutions. He has supervised over $17B in real estate transactions. Notable transactions include the Citigroup Special Situations Group acquisition of Red Roof Inn, the Westmont acquisition of InTown Suites, and boutique hotel financings for multiple prominent NYC operators.
Prior to starting BBCP and BBAM, Mr. Bellini was a Managing Director in the Real Estate Finance Group at Bear Stearns Companies, Inc., now JP Morgan Securities, Inc. While at Bear Stearns, he was involved in the acquisition and management of firm assets and coordinated some of the firm’s more complex workout and restructuring situations. He also coordinated real estate banking relationships with the commercial mortgage desk. Prior to Bear Stearns, Mr. Bellini was a Vice President at Dime Savings Bank of New York, now JP Morgan Chase & Co., and at Republic National Bank, now HSBC, where his primary responsibilities were ORE and workouts and restructuring of real estate debt. Prior to Republic National Bank, Mr. Bellini was a senior accountant at Richard Eisner and Company. During his tenure at Richard Eisner and Company, Mr. Bellini was responsible for real estate audit and tax engagements as well as real estate workout, securitization, and valuation engagements.
Mr. Bellini is a CPA and holds a B.S. from Bernard M. Baruch College.
William Fung
Senior Managing
Partner & Chairman
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William Fung
SENIOR MANAGING PARTNER
Mr. Fung is a Senior Managing Partner and Co-Founder of Black Bear Capital Partners (“BBCP”) and Black Bear Asset Management (“BBAM”). Mr. Fung is responsible for ensuring the firm’s adherence to its core investment philosophy, communicating with clients concerning products and strategies, and managing the firm. His real estate career encompasses a broad range of experience including acquisitions, dispositions, joint ventures, financing, development, and lending.
Mr. Fung began his real estate career after military service when he joined Heng Sang Realty Corp. (“HSR”), a New York-based real estate company that focuses on the acquisition, development, and management of prime real estate assets. As a member of HSR’s team, Mr. Fung focused on the office, retail, and multi-family sectors. At HSR, Mr. Fung’s primary responsibilities included evaluating new investments, leasing, construction, and asset management within the company’s portfolio. Mr. Fung is a consummate expert in New York City-based properties, specializing in the submarkets of SoHo, Nolita, Bowery/NoHo and Midtown.
Bryan J. Manz
Managing Partner &
Chief Operating Officer
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Bryan J. Manz
MANAGING PARTNER & CHIEF OPERATING OFFICER
Office: (917) 810-8802
Mobile: (518) 573-0455
Bryan J. Manz is a Managing Partner & Chief Operating Officer at Black Bear Capital Partners (“BBCP”). As Managing Partner & Chief Operating Officer, Mr. Manz sources, evaluates, and advises on principal equity investments as well as an array of real estate financing alternatives including first mortgages, mezzanine debt, B-notes, and preferred equity. Mr. Manz is also responsible for oversight of the company’s operations. Mr. Manz’s experience spans both the debt and equity real estate markets, having worked in CMBS in both loan origination and securitization. On the equity side, he has provided advisory services on the deployment of investor capital into both physical real estate assets and real estate debt investments.
Prior to joining BBCP, Mr. Manz was an Associate at Cantor Commercial Real Estate (“CCRE”). While at CCRE, he worked on over $2.5B in securitizations and loan originations. Prior to joining CCRE, Mr. Manz was an Analyst at Bear Stearns Companies, Inc., now JP Morgan Securities, Inc. While working at Bear Stearns, he contributed to the origination and underwriting of over $2B of loans. Mr. Manz is also a licensed real estate broker in New York State.
Mr. Manz holds a B.S. in Applied Economics and Management (AEM) from Cornell University and graduated with Magna Cum Laude Honors.
Advisory Team
Emil A. DePasquale
Senior Managing
Partner
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Emil A. DePasquale
SENIOR MANAGING PARTNER
Office: (908) 308-4901
- Mobile: (732) 754-0109
Mr. DePasquale is a Senior Managing Partner at Black Bear Capital Partners (“BBCP”). As Senior Managing Partner, Mr. DePasquale sources, evaluates, and advises on principal equity investments, as well as an array of real estate financing alternatives, including first mortgages, mezzanine debt, B-notes, and preferred equity.
Mr. DePasquale is a seasoned professional in the real estate industry with over 20 years of experience. Prior to joining BBCP, Mr. DePasquale held various positions at Meridian Capital Group where he advised clients for over 14 years, most recently as a Senior Vice President. Throughout his career, Mr. DePasquale has focused on structured debt and equity advisory, specializing in ground-up construction planning and financing. Mr. DePasquale has successfully underwritten, negotiated, and placed several billion in commercial real estate transactions.
Mr. DePasquale holds a B.S. in finance and business administration from Johnson & Wales University.
Brandon R. Harris
Managing Partner &
Head of Northeast Region
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Brandon R. Harris
MANAGING PARTNER & HEAD OF NORTHEAST REGION
Office: (908) 308-4902
- Mobile: (908) 507-9096
Mr. Harris is a Managing Partner and Head of the Northeast Region of Black Bear Capital Partners (“BBCP”) based out of the firm’s New Jersey office. Mr. Harris is responsible for the strategic direction of the company and the overall management of the firm.
Mr. Harris has deep roots in the real estate industry, coming from a real estate family with over 60 years of hands-on development, management, and operating experience. Prior to co-founding BBCP, Mr. Harris was a Senior Vice President at Meridian Capital Group. Mr. Harris has focused on structured debt advisory on a national scale, closing deals in more than 25 states with a wide variety of lenders ranging from local, regional, and national banks, life insurance companies, private debt funds, agencies, and CMBS lenders. Mr. Harris has played an instrumental role in successfully originating, underwriting, and placing over $1B in commercial real estate transactions.
Mr. Harris is a Seton Hall Prep Alumnus, holds a B.S. in finance and business administration from The College of New Jersey, and is a licensed Real Estate Salesperson in the State of New Jersey.
Matthew Stearns
Senior Managing Director
& Head of Originations
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Matthew Stearns
SENIOR MANAGING DIRECTOR & HEAD OF ORIGINATIONS
- Office: (312) 545-8005
Mr. Stearns is a Senior Managing Director and Head of Originations at Black Bear Capital Partners (“BBCP”) based out of the firm’s Chicago office. Mr. Stearns has over 15 years of commercial real estate capital markets experience including JV equity, preferred equity, bridge financing, construction financing, DPOs, note purchases, CMBS, life company debt, and agency financing. Over the course of his CRE capital markets advisory career, Mr. Stearns has been involved in over $2B of equity and debt transactions across all asset classes nationwide.
Prior to BBCP, Mr. Stearns was a Senior Vice President at Alpha Capital CRE and had a successful nine-year tenure with the firm. At Alpha, Mr. Stearns was responsible for Equity and Debt advisory and placement. He was a vital part of growing the company’s market presence and deal volume, not only in Chicago but also nationwide. Prior to Alpha, Mr. Stearns was an Executive Vice President for six years at Hanover Equity Group, a private real estate investment firm focusing on the acquisition, development, financing, management, and disposition of over $400M of residential and multifamily real estate.
Mr. Stearns received his BBA in finance from St. Norbert College and is involved in their real estate alumni association. He also played four years of DIII college hockey. Mr. Stearns is an active member of NMHC, NAOIP, and REIA in Chicago, IL.
Eric S. Trombly
Senior Managing Director
& Head of Southeast Region
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Eric S. Trombly
SENIOR MANAGING DIRECTOR & HEAD OF SOUTHEAST REGION
- Office: (401) 862-1837
Mr. Trombly is a Senior Managing Director and Head of Southeast Region of Black Bear Capital Partners (“BBCP”) based out of the firm’s Florida office. Mr. Trombly is responsible for the strategic direction and management of the firm’s southeast operations as well as overseeing business development nationally.
Prior to joining BBCP, Mr. Trombly spent several years with Meridian Capital Group. Over the course of his career, Mr. Trombly has focused on structured debt advisory and has contributed to the origination, processing, and execution of over $1B in commercial real estate transactions nationally across all major asset classes.
Mr. Trombly holds a B.A. in communication management from Saint Leo University and is an active member of ICSC and NHMC.
Suraj Desai
Senior Managing Director, Head of Hospitality, & Head of Capital Markets
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Suraj Desai
SENIOR MANAGING DIRECTOR, HEAD OF HOSPITALITY & HEAD OF CAPITAL MARKETS
- Office: (773) 314-7659
Mr. Desai is a Senior Managing Director, Head of Hospitality, and Head of Capital Markets at Black Bear Capital Partners (“BBCP”) based out of the firm’s Tampa office. Mr. Desai is primarily responsible for business development as well as the sourcing and execution of structured debt and equity transactions.
Mr. Desai has over 10 years of experience within the commercial real estate industry and has developed an expertise within the hospitality space. Prior to joining Black Bear Capital Partners, Mr. Desai held senior positions at Alpha Capital CRE and Mag Mile Capital where he originated over $250M in debt and equity transactions. Prior to his experience in capital advisory, Mr. Desai spent five years at a family office in New Jersey where he helped manage a portfolio of over $40M in commercial real estate assets.
Mr. Desai holds a B.S. in biology from Rutgers University and a Master of Education from DePaul University.
Zach Lutwak-Fitzgerald
Managing Director &
Head of Midwest Region
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Zach Lutwak-Fitzgerald
MANAGING DIRECTOR & HEAD OF MIDWEST REGION
- Office: (847) 507-0015
Mr. Fitzgerald is a Managing Director and Head of Midwest Region at Black Bear Capital Partners (“BBCP”) based out of the firm’s Chicago office. Mr. Fitzgerald is primarily responsible for business development as well as the sourcing and execution of structured debt and equity transactions.
Prior to joining BBCP, Mr. Fitzgerald was a Director at Alpha Capital CRE, where his primary responsibilities included supporting senior producers in various capacities, as well as the sourcing of new debt and equity transactions. Prior to Alpha, Mr. Fitzgerald spent three years at Berkadia Commercial Mortgage as a member of the firm’s Mortgage Banking origination team. While at Berkadia, Mr. Fitzgerald focused primarily on Chicago Urban assets with an additional focus on multifamily, retail, and office asset classes within secondary and tertiary markets.
Mr. Fitzgerald holds a B.S. from DePaul University and an M.B.A. from the Kellstadt Graduate School of Business at DePaul University with concentrations in real estate finance, investing and economics. Additionally, Mr. Fitzgerald works closely with the National MS Society and various animal shelters through his family charity, Home At Last, aiding in fundraising efforts as well as adoption and training.
Michael Bernstein
Managing Director & Head of Equity Advisory
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Michael Bernstein
MANAGING DIRECTOR & HEAD OF EQUITY ADVISORY
- Office: (520) 330-1002
Mr. Bernstein is a Managing Director & Head of Equity Advisory at Black Bear Capital Partners (“BBCP”) based out of the firm’s Chicago office. Mr. Bernstein is primarily responsible for capital outreach as well as overall strategy for structured debt and equity transactions.
Mr. Bernstein has nearly 15 years of commercial real estate and private equity experience, during which he has participated in several billions of dollars of transaction activity spanning the real estate and private placement spectrum. Over the course of Mr. Bernstein’s career, he’s been involved in the acquisition of over 13,000 MFR units, primarily spending his time in senior acquisition and partner roles with owner/operator/developers of multifamily. Most recently, Mr. Bernstein served as a Senior Managing Director and CFO for a family office in Atlanta, GA, where he was part of the leadership team on a portfolio of approximately 1,500 MFR Units. He is excited to be back home in Chicago and is eager to bring his experience to the team and clients at Black Bear Capital Partners.
Mr. Bernstein holds a B.S.B.A from Eller College of Management at the University of Arizona, where he graduated Summa Cum Laude with Honors, as well as received the prestigious Finance Department Head’s Award for Academic Distinction, given to the top finance student of the graduating class. He has been a longtime supporter of the Cystic Fibrosis Foundation and multiple affordable housing and place-based nonprofits. Mr. Bernstein spends his free time advising nonprofits like Grove Park Renewal and UPLIFT GA as well as mentoring the youth in impoverished neighborhoods like Westside Atlanta.
David E. Michalski
Director
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David E. Michalski
DIRECTOR
- Office: (908) 308-4903
- Mobile: (732) 710-1491
Mr. Michalski is a Director at Black Bear Capital Partners (“BBCP”) based out of the firm’s New Jersey office. As a Director, Mr. Michalski is responsible for implementing and overseeing the firm’s client relationship management platform. In addition, Mr. Michalski assists in the placement of debt, underwrites and facilitates related transactions, and provides support to the firm’s overall operations.
Prior to joining BBCP, Mr. Michalski was an Intern Research Analyst at Meridian Capital Group. While at Meridian, Mr. Michalski worked in the research department maintaining a proprietary client relationship platform. He also provided operational support to the advisors by assisting with the solicitation and processing of potential deals.
Mr. Michalski holds a B.A. in physics from Rutgers University.
Jennifer Enamakel
Associate
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Jennifer Enamakel
ASSOCIATE
Ms. Enamakel is an Associate at Black Bear Capital Partners (“BBCP”). As an Associate, Ms. Enamakel is responsible for analyzing and underwriting advisory transactions, assisting in the placement of debt and equity, facilitating related transactions, and providing support with respect to the firm’s overall operations.
Prior to joining BBCP, Ms. Enamakel was a Senior Analyst at Barclays Bank. While at Barclays, Ms. Enamakel was responsible for underwriting conduit property loans across various asset classes and was also a part of their warehouse financing team. She was responsible for sourcing and updating data from various databases, which were critical for the underwriting analysis.
Ms. Enamakel holds a Masters in Management Studies – Finance from Xavier Institute of Management and Research.
Mac McGovern
Associate Director
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Mac McGovern
ASSOCIATE DIRECTOR
- Office: (917) 810-8803
- Mobile: (914) 417-1495
Mr. McGovern is an Associate Director at Black Bear Capital Partners. As an Associate Director, Mr. McGovern is responsible for evaluating and underwriting investments in accordance with the firm’s investment criteria, assisting in the placement of debt and equity, facilitating related transactions, and providing support with respect to the firm’s overall operations.
Mr. McGovern holds a B.S. in economics from Southern Methodist University (SMU) with a concentration in finance. Prior to SMU, he attended Rye High School, where he played varsity hockey and lacrosse. In his free time, he enjoys skiing, golf, and hockey.
Vincent Mattaliano
Analyst
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Vincent Mattaliano
ANALYST
Mr. Mattaliano is an Analyst at Black Bear Capital Partners. As an Analyst, Mr. Mattaliano is responsible for evaluating and underwriting investments in accordance with the firm’s investment criteria, assisting in the placement of debt and equity, facilitating related transactions, and providing support with respect to the firm’s overall operations.
Mr. Mattaliano holds a B.S. in Finance from Rutgers University. Prior to Rutgers, he attended Watchung Hills High School, where he was a varsity wrestler. In his free time, he enjoys golfing, cooking, and playing chess.
Juhi Kamra
Analyst
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Juhi Kamra
ANALYST
Office: (917) 810-8805
Mobile: (212) 300-6405
Ms. Kamra is an Analyst at Black Bear Capital Partners (“BBCP”). As an analyst, Ms. Kamra is responsible for analyzing and underwriting advisory transactions, assisting in the placement of debt and equity, facilitating related transactions, and providing support with respect to the firm’s overall operations.
Prior to joining BBCP, Ms. Kamra was an architect in India. As an architect, she was responsible for planning and execution of high-value projects, such as the Birla Niyara luxury residential development in Mumbai. Her responsibilities included overseeing financial analysis and due diligence for commercial and residential developments as well as managing approval drawings.
Ms. Kamra holds a Masters in Real Estate Development and Masters in Advanced Architectural Design from Columbia University, New York.
