Black Bear Capital Partners (BBCP), a real estate financial advisory firm and subsidiary of Black Bear Asset Management (BBAM), expanded its Chicago office with the addition of seasoned real estate finance advisor Raymond Zanca, who joins as Senior Managing Director. Sam Koziol also joins the Chicago office as an analyst.

Immediately after joining the Chicago team, Zanca arranged a $ 16 million bridge loan on condominium inventory on behalf of Ascend Real Estate Group. The 18 month non-recourse financing which is used to repay existing mezzanine debt and cover remaining project costs and associated closing costs for Superior House Condos, a 34 unit residential property at 366 West Superior in the River North neighborhood. Before Capital is the lender.

“The addition of Raymond and Sam is part of a strategic initiative to expand our Chicago office, providing Midwestern clients with the highest quality representation,” said BBCP COO Bryan Manz. “Their impact was immediate and we plan to make several additional new hires at the top level in the coming months. “

Zanca joins the new Chicago office which also includes Eric Trombly, Matthew Stearns, Scott Modelski and Zach Fitzgerald. In her new role at BBCP, Zanca is primarily responsible for researching and executing structured debt and equity transactions. Zanca was previously senior vice president at Alpha Capital CRE, director of acquisitions and divestitures for various private equity real estate groups and started his career in Chicago at CBRE.

As an Analyst in the Chicago office, Koziol is responsible for the analysis and underwriting of advisory transactions, assistance with debt and equity placement, facilitation of related transactions and support for overall company operations.

Prior to joining BBCP, Koziol was an analyst at HKS Holdings, where he worked closely with the company’s asset management team, supporting the company’s $ 400 million multi-family and hotel portfolio. Prior to joining HKS, Koziol was a commercial real estate loan analyst for BMO Harris Bank, where he was responsible for underwriting and monitoring commercial loans ranging from $ 10M to $ 150M.

BBCP, which handles transactions on all types of properties, has entered into numerous complex refinancing programs over $ 1 billion since the start of the year, with an additional $ 500 million in the pipeline.