The BSC Group LLC, a commercial real estate mortgage brokerage and advisory firm specializing in the self-storage industry, has hired Adam Karnes as a senior credit analyst at the company’s Chicago headquarters. Karnes will be responsible for assessing and preparing debt and equity financing requests on behalf of the company’s clients. He specializes in the self-storage asset class and has experience in all commercial property types. Additionally, Karnes conducts daily market research to continually enhance the firm’s competitive position by staying current on all relevant market movements, according to a press release.
“Adam brings a highly quantitative focus to the firm, and his strong background in real estate made him a natural fit,” said Shawn Hill, principal.
Previously, Karnes worked as a financial analyst at Toronto-based credit-rating agency DBRS (originally known as Dominion Bond Rating Service) within its CMBS (commercial mortgage-backed securities) group that covers commercial real estate in Canada, Europe and the United States. While at DBRS, Karnes underwrote nearly $1.5 billion of combined traditional conduit and non-stabilized loans across all property types, the release stated. He also helped develop and test quantitative models used to assess credit worthiness for multi-loan pooled transactions as well as single-borrower transactions.
“Adam’s educational background and experience in commercial real estate have given him a knowledge of financial markets that will have an immediate impact on the firm and its clients,” said Devin Huber, principal at BSC. “We are delighted to have him on board.”
Karnes earned bachelor’s degrees in real estate and finance from the University of Wisconsin (UW) at Madison, with a core emphasis on commercial real estate finance. He was also a member of the UW–Madison Real Estate Club and is an active member in the UW Alumni Association and Mortgage Bankers Association.
Formed in 2009, BSC provides financial and loan advisory, mortgage brokerage, and loan-workout solutions to commercial real estate owners and investors, with a special emphasis on the self-storage market. Through its capital source network, the company provides access to debt and equity financing for commercial real estate investments nationwide.
