Bar Harbor, ME Peter Brockelman has joined Bar Harbor Bank & Trust as senior vice president, middle market relationship manager. Brockelman is a commercial lending professional whose primary focus has been commercial real estate.
Brockelman has 30 years of experience in the banking industry. Most recently, he spent 18 years at TD Bank where he was last head of commercial real estate north division. Earlier in his career, he worked for Forest City Ratner Companies, GMAC/RFC Commercial Mortgage Finance, and U.S. Bancorp.
“I have known Pete for many years, and he represents exactly the type of experienced, thoughtful banker that we are fortunate to attract as we continue to grow our commercial brand and customer base,” said Curtis Simard, Bar Harbor Bank & Trust president and chief executive officer.
Brockelman earned his Bachelor of Arts degree from Connecticut College, a Masters of Business Administration degree from the Yale School of Management, and a Master of Environmental Studies degree from the Yale School of Forestry & Environmental Studies.
Brockelman is involved with the National Association of Industrial and Office Properties; The Real Estate Finance Association-Greater Boston Real Estate Board; National Association of Real Estate Investment Trusts; Real Estate Lenders Association; and The Risk Management Association.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.