About

Black Salmon is a commercial real estate investment firm focused on opportunities within the office, industrial, hospitality and healthcare sectors in the United States. Through the acquisition and management of these assets, the firm’s goal is to transform real estate into profitable, risk adjusted returns for a select group of international investors.

Corporate Culture

We foster a culture of transparency and outperformance. Paired with our innovative strategy, we are focused on disciplined growth while continuing to exceed our investors’ expectations. As fiduciaries, we enforce a proactive risk management approach within our company.

Vision

Black Salmon was founded with the goal of becoming a leading private investment management firm offering a full range of commercial real estate products. The firm is focused on establishing and maintaining long-lasting relationships based on mutual trust between our investors, partners and colleagues.

Mission

With expert knowledge, our team of real estate professionals specializes in the identification, acquisition, and management of investment grade assets in major markets around the United States. While capital preservation is always the company’s top priority, we seek to create value wherever possible through intelligent business planning.

Our values

Commitment

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Commitment

We are dedicated to providing our investors with best-in-class service by actively managing our duties and obligations to them. It is our fiduciary responsibility to act solely in the interest of our investors, with whom our long-term relationships were developed through, and depend upon, the successful exercising of discretion and expertise on their behalf.

Integrity

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Integrity

Our entire team has strong moral and ethical convictions and has developed a reputation for honesty and just action in any circumstance. We promote sincere communication while always behaving professionally and righteously.

Flexibility

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Flexibility

Our team has the willingness and ability to adapt quickly to changing circumstances and expectations. We maintain an unbiased approach and consider multiple viewpoints in order to make the optimal decision.

Our actions are driven by

DISCIPLINE
LOYALTY
RESPONSIBILITY
RELIABILITY
HONESTY
ETHICS
RESPECT
PROFESSIONALISM
MERITOCRACY
OBJECTIVITY
DIVERSITY
ADAPTABILITY

Team Track Record

$2.1 Billion

In Investments

10.4 Million

Sq. Ft. Acquired

20 Years

Institutional Real Estate Experience

30 Cities

Active in

21 States

Active in

75 Years

Real Estate Experience

Figures above represent the combined track record of the management team.

Our People

Leadership

Jorge Escobar

MANAGING PARTNER / CO-CEO

Utilizing his institutional-minded discipline, Jorge founded Black Salmon in 2017. Throughout his career, Jorge has specialized in structuring and overseeing the investment strategies of both corporate and private funds. Prior to Black Salmon and TSG, Jorge held top positions in the banking industry involving global responsibilities for two decades, earning him a proven track record. While working for more than nine years at HSBC Bank N.A., Jorge last served as Global Head of the HSBC Private Bank for the Chilean market (based in the U.S.), where he oversaw more than $1.5B for HNW clients and led the largest transactions for the region’s private bank.

Utilizing his institutional-minded discipline, Jorge founded Black Salmon in 2017. Throughout his career, Jorge has specialized in structuring and overseeing the investment strategies of both corporate and private funds. Prior to Black Salmon and TSG, Jorge held top positions in the banking industry involving global responsibilities for two decades, earning him a proven track record. While working for more than nine years at HSBC Bank N.A., Jorge last served as Global Head of the HSBC Private Bank for the Chilean market (based in the U.S.), where he oversaw more than $1.5B for HNW clients and led the largest transactions for the region’s private bank.

An active participant in the U.S. and European real estate markets since 2012, Jorge has been involved in numerous club deals with Blackstone and HSBC Real Estate Group, as well as in TSG’s transactions.

Jorge also serves as Managing Partner of TSG Group. TSG restructured in 2016 to seamlessly combine its development expertise with Black Salmon’s innovative investment approach and global reach.

Camilo Lopez

MANAGING PARTNER / CO-CEO

Camilo Lopez has 20 years of experience in the structuring, development, and disposition of real estate assets. At Black Salmon, he utilizes his extensive knowledge to identify new trends, areas, and opportunities for growth.

Camilo Lopez has 20 years of experience in the structuring, development, and disposition of real estate assets. At Black Salmon, he utilizes his extensive knowledge to identify new trends, areas, and opportunities for growth.

Camilo founded TSG Group in 2008. In the years following, he was able to arrange the private equity to tactically acquire a total of 4,000 income-producing properties in South Florida.

As an expert and visionary, Camilo has headed the development of TSG Group’s landmark projects, including both prime commercial and residential properties; as well as the acquisition of prime properties in prominent areas of Miami including the Design District, the CBD, the Health District, Wynwood and the Miami River.

Camilo is from Bogota, Colombia and relocated to Miami in 1999. He was recognized in 2019 and 2017 as a Power Leader in Real Estate by the South Florida Business Journal and is a member of the Real Property Development Advisory Board from the University of Miami.

Diego Madotta

MANAGING PARTNER

Diego is a recognized manager with corporate experience in the financial services industry in Latin America. Prior to joining Black Salmon, he served as Commercial Director and VP Asset Management at Capital Markets Argentina for 24 years.

Diego is a recognized manager with corporate experience in the financial services industry in Latin America.

Prior to joining Black Salmon, he served as Commercial Director and VP Asset Management at Capital Markets Argentina for 24 years.

Throughout the last 10 years he has specialized in the structuring of direct real estate investments as well as various other investment vehicles.

In 2009, during the financial crisis in the United States, he began to invest in the real estate market. Taking advantage of his extensive knowledge in investment structures, he participated in the acquisition of numerous properties with a select group of investors who have trusted him ever since.

Since 2012 he has been responsible for fifteen co-investment vehicles that have acquired assets in markets such as Miami, New Jersey, San Francisco, Boston, Denver, North Carolina, Kansas, Oregon, Detroit and Baltimore.

Eduardo Escayol

MANAGING PARTNER

Eduardo has over 20 years of international experience in wealth management and private equity real estate.

Eduardo has over 20 years of international experience in wealth management and private equity real estate.

In addition to his responsibilities at Black Salmon, Eduardo currently leads a team at Capital Markets Argentina that provides financial advice and wealth management. He is also a member of the Board of Directors of AYCO Grupo Inmobiliario of Spain, listed on the Madrid Stock Exchange.

Since 2012 Eduardo has managed a large number of investment vehicles involved in the acquisition of assets in markets such as Miami, New Jersey, San Francisco, Boston, Denver, North Carolina, Kansas, Oregon, Detroit, Baltimore and Madrid.

He started his career at Banco Galicia and HSBC Bank; later actively participated in the purchase of lands and the development of residential and office buildings in Argentina and USA.

Stephen F. Evans

Managing Director

Stephen Evans’ successful real estate career spans 35 years with a broad range of institutional real estate experience including equity capital markets; fund strategy, negotiation and structuring; property sales and leasing; market analysis and business development.

Stephen Evans’ successful real estate career spans 35 years with a broad range of institutional real estate experience including equity capital markets; fund strategy, negotiation and structuring; property sales and leasing; market analysis and business development.

Stephen previously held the position of Managing Director with USAA Real Estate within the Global Investors Group. During Stephen’s tenure at USAA Real Estate, the firm launched its investment management practice which ultimately led to the USAA portfolio growing from approximately $3 Billion to well over $20 Billion of Assets under Management. During this time, Stephen worked directly with many of the largest and most sophisticated domestic and foreign institutional real estate investors including pension funds, insurance companies, and sovereign wealth funds which invested in USAA Real Estate sponsored open and closed ended comingled funds, separate accounts, and direct investment vehicles. These investment entities capitalized transactions within all major property sectors, across the risk spectrum and capital stack.

Stephen also served two, plus years as a Senior Vice President with Stonemont Financial Group, an Atlanta based developer and investment manager with approximately $3 Billion of Assets under Management. In this capacity, Stephen raised institutional capital and advised leadership on institutional real estate investment management and fund formation.

Prior to joining as Managing Director, Stephen joined as an advisor to Black Salmon and TSG in 2019 when he started working closely with the Managing Partners.

Advisors of the Board

Glen H. Waldman

GENERAL COUNSEL

Glen H. Waldman is an attorney with more than 30 years of experience. He has tried both jury and non-jury cases with disputes in a wide variety of areas, including contracts, fraud, fraudulent transfers, business partnerships, land use, wills, construction, real estate, insurance, trademark infringement and banking. Glen currently represents and advises a number of businesses about their contractual relationships, internal controls and procedures, and other legal and strategic decisions.

Ranked by Chambers USA nine times over the past decade and listed in Who’s Who Legal: Litigation, Glen has obtained numerous jury verdict awards in the seven- and eight-figure range in commercial and real-estate matters, and successfully defended claims of equal size. He has had similar success in the area of real estate and land use, and in probate courts. Likewise, he has secured numerous international arbitration awards reaching as high as $50 million.

Glen and his litigation group have received local and national recognition from both their peers and respected media for their work. He is a fellow of the Litigation Counsel of America and a member of the American Board of Trial Advocates, ABOTA.

Michael Baldwin, Mai, Asa

HEALTHCARE PROPERTY CONSULTANT

Michael has specialized in the valuation and market analysis of seniors housing and healthcare properties since 2005. Prior to forming OHC Advisors he held leadership roles in several national healthcare real estate valuation firms. Michael has been a speaker on valuation and market analysis topics at several industry conferences and presented webinars regarding the valuation of healthcare real estate as part of his role as a subcommittee member of the Healthcare Special Interest Group of the American Society of Appraisers.

Mr. Baldwin has served as an expert witness on appraisal and valuation issues in a wide variety of civil and criminal cases, including for seniors housing and healthcare facilities, individuals in business and family disputes, and the U.S. government. Michael studied real estate and finance at Florida State University and holds an MBA from the University of Chicago Booth School of Business. He also served his local community as an appointed Appraiser Special Magistrate in Miami-Dade County where he presided over hundreds of property tax appeals as a neutral judge between property owners and the county assessor's office.

Richard Millard

HOSPITALITY ADVISOR

Richard Millard serves as Chairman & CEO of Trust Hospitality. The self-described “lifetime hotelier” worked for a number of well-known hotel companies, including Hyatt, Sheraton and Hilton before joining Trust, then known as Tecton, in 1987, during the savings and loan crisis. At the time, the firm was managing about 150 hotels for the federal government and private banks.

Eight years later, Millard, a native of the United Kingdom, became the firm’s majority shareholder and president. He launched a boutique hotel division in 2004 and continues to lead the company today, responsible for financing the company’s growth on resort and urban projects throughout the world and developing strategic partnerships.

Trust operates both branded and independent hotels in the United States, the Caribbean, Latin America and the Far East, as well as a collection of independent boutique hotels under the Desires Hotels brand. Trust has regional offices in Miami, Brazil, China, Panama and Portugal/Spain.

Team

Grant Peterson

VICE PRESIDENT, ACQUISITIONS

Grant brings to the company 8 years of experience in institutional commercial real estate acquisitions and asset management.

Most recently with Crocker Partners, one of the region’s premier operating partners, he was responsible for the identification, pursuit and execution of investment grade opportunities throughout the Southeast, working with some of the most sophisticated capital partners in the world and assisting with more than $5B in opportunities evaluated and over $500M in executed transactions.

Prior to his time with Crocker Partners, Grant was with LNR Partners in Miami Beach, where he was deeply involved in the asset management of the company’s Southeastern portfolio of REO properties, valued in excess of $400M, as well as the underwriting of over $1.6B in both performing and non-performing commercial real estate debt across all property types.

Grant is a graduate of the University of Florida’s Master of Science in Real Estate program and holds a Bachelor of Science in Management, also from the University of Florida. During his time at university he was very involved in the Bergstrom Center for Real Estate Studies, served as a Teaching Assistant and was a founding member of the Real Estate Society.

Paul Ketchum

VICE PRESIDENT OF DEVELOPMENT

Paul has eight years of experience in ground-up development and project management.

Most recently with the Related Group, where he served as Development Associate for two years, Paul was involved in the development of major luxury residential-hotel projects as well as multifamily projects in South Florida. He led the team of consultants and general contractors to achieve the construction completion, sell out, closeout, and delivery of over 1,400 units combined.

Paul started his career at Constructora Conconcreto, a major Colombian publicly traded construction company that co-owns one of the largest REITs in the country. As Development Associate for the firm, he coordinated the investment and construction of several residential projects involving more than 8,000 units and valued sales of over $200 million.

Paul is a graduate from the University Rafael Urdaneta (Venezuela) with a bachelor’s in civil engineering and holds a Master of Real Estate Development and Urbanism degree from the University of Miami. He is also a Certified He is also a Certified Project Manager Professional by the Project Management Institute.

Martin Fernandez

ASSOCIATE, ASSET MANAGEMENT

As Associate of Asset Management, Martin oversees the firm’s general partners and service providers’ duties to ensure optimum property performance, monitors the financial status of the portfolio and budget forecasts, and oversees the physical condition of the properties, including maintenance and capital needs of the portfolio.

Martin recently completed his MBA at Georgetown University, where he served as co-president of the Latin American Business Association and as an active member of the Georgetown Real Estate Society. By participating in real estate case competitions and clinics, Martin completed his MBA with over 3M sq. ft. of underwriting experience, along with vast expertise in financial modeling and Argus.

Originally from Santiago, Chile, Martin holds a bachelor’s degree in commercial engineering from Universidad de los Andes. He started his career in the energy and construction industry managing his startup for three years, before merging it and starting his MBA at Georgetown.

Martin joined Black Salmon during the summer of 2018 when he worked in the acquisition department. He joined the firm full-time after completing his MBA in June 2019.

Blanca Lopez

MARKETING DIRECTOR

Blanca is responsible for overseeing the communication, public relations and creative strategies for the company.

She is involved in all the marketing aspects of asset investment and project development including market research and analysis, revising press releases, designing and creating concepts for offering memorandums, project brochures, corporate materials and brand identity collateral, developing web site design concepts, collaborating on advertising campaigns and planning events.

Blanca holds a master’s degree in sales and marketing management from the Universitat de Barcelona and graduated from Universidad Pontificia Comillas ICAI-ICADE in Madrid with a bachelor’s degree in translation and interpreting.

During her three years as a professional linguist, she was rapidly promoted to team coordinator, where she was responsible for quality control, project management and training new translators.

Gabriela Aguero

MARKETING COORDINATOR

Gabriela is responsible for assisting team members with day to day marketing tasks and coordinating marketing projects and activities as requested by the firm’s marketing director.

She supports the in-house marketing and design team by facilitating and assembling content development, production of artwork, and prints, as well as organizing the production of branded items, such as stationery and merchandise. In her role as a marketing coordinator, she analyzes marketing, advertising, and social media campaigns, and collaborates with the asset management team in performing research and market analysis.

Gabriela grew up in Nicaragua and moved to Miami to pursue her career in marketing. She joined the company after completing an internship and graduating with a bachelor’s degree in marketing from Florida International University’s Landon Undergraduate School of Business.

Marbely Meza

FINANCE & COMPLIANCE DIRECTOR

With strong accounting, financial, and tax knowledge, Marbely has over 13 years of experience working at various companies in the United States. As Finance & Compliance Director for Black Salmon, Marbely collaborates with the management team to improve the company’s productivity and profitability. She oversees the operations of the accounting department and all financial transactions to maintain the company’s financial health. She also ensures that the company is conducting its business in full compliance with professional standards and accepted business practices.

Before joining the firm in January 2017, Marbely served as a senior accountant at CPA firm A&E Garcia P.A. for almost seven years, and then as the controller in the US for Grupo Restalia, one of the leading hospitality groups in Spain.

She graduated with a bachelor’s degree in accounting from Universidad Catolica Andres Bello, one of the most prestigious universities in Venezuela.

Rogelio Boscan

SENIOR ACCOUNTANT

Rogelio is a professional accountant with 18 years of comprehensive technical and financial experience.

He started his career in Venezuela at the accounting firm Gómez, García, Medina and Associates where he was Chief Auditor for public administration matters for two years, and then worked as Control Manager at the government of Zulia State for 11 years.

Rogelio worked later as Accounting and Property Manager at IGMC Medical Technology Group for five years, and as a freelance accountant for a group of real estate investment companies for two years.

He holds a bachelor’s degree in business administration with a major in accounting from Universidad Dr. Rafael Belloso Chacin (URBE) in Venezuela, and a Tax Preparation Specialist Certification from the PAZ Accounting Institute of Miami, Florida.

Ilene Vargas

EXECUTIVE ASSISTANT / OFFICE MANAGER

Ilene has 20 years of experience in administration and operations. She started her career at the government of Puerto Rico, where she was responsible for supervising all events, from private meetings to conventions, for the Governor and dignitary visits.

During her five years as Executive Assistant at The Ritz-Carlton San Juan she was awarded numerous recognitions, including the 2007 Employee of the Year.

She was then asked to return to the government as the Special Assistant to the Chief of Staff, where she handled critical responsibilities for the operations of the government.

Ilene also dabbled in the real estate industry as a property manager, handling the administration of a 204-unit condo with 17 buildings. She managed to lower the collections by 85%, cancel existing debt, and maintain balanced budgets for five years.