Burke Davis
Head of real estate banking at J.P. Morgan
Is it better to be a lender or borrower today?
Lender. It is generally a safer position to be in given the current volatility in the market today.
Has the can been kicked fully down the road when it comes to loan extensions, or is there more leg action to come?
We’ve been proactive with loans that haven’t gone according to plan. However, there may still be more extension/cleanup activity ahead as the market continues to work through reality.
Which property sector is most attractive from a lending perspective today, and which are you most cautious about?
We are focused on being as constructive as possible on housing given supply and demand dynamics. Our American Dream Initiative aims to increase the country’s housing supply and create more homeowners.
What’s your competitive edge in deals today, and who are you competing against most often (banks or non-banks)?
Our edge is the depth of products and services we deliver to our clients. We frequently encounter different lenders depending on the situation.
Do you expect more or fewer loan sales in the year ahead?
I expect more loan sales because of increased rate volatility.
What is the most important thing you’ve done as a lender to protect your loan portfolio over the last year?
We’ve stayed consistent around client selectivity.
Biggest headwind and tailwind to lending activity in 2027?
Headwinds: increasing interest rates. Tailwinds: a more disciplined competitive environment as some lenders pull back.
Lightning Round:
Super Bowl or World Cup? Super Bowl.
If you could train AI to do one new thing, what would it be? Dinner reservations.
Best vacation you ever took? Santorini with my family last summer.
Conversions: “Keep `em comin’ ” or “Sooo 2020 (scoff)”? Keep `em coming.
Sun Belt multifamily or Boston life sciences? As a Bostonian, Boston life sciences.
Book reader or phone scroller/email checker before bed? Email checker.
Describe your portfolio in one word? Granular.
Fitness activity of choice? Running in the morning when the sun comes up.
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