Bruce P. Morrison
Bruce Morrison is Senior Vice President – Chief Credit Officer at LRC Properties.
Bruce, who joined LRC in 2011, has more than 25 years of experience in financing, refinancing, repositioning and managing a broad range of real estate assets.
Prior to joining LRC Properties, Bruce spent more than 40 years in various positions at Deutsche Bank and its predecessor, Bankers Trust Company, serving as Senior Credit Officer for real estate in the U.S., as a senior portfolio manager of problem loans and owned real estate, and as a member of the bank’s equity investment committee, focusing on equity and equity-like real estate investments for the bank’s own account in the U.S. and Asia. Earlier in his career, he was a commercial lender, headed the metals and mining group and played a key role in restructuring and recovering loans to REITs and real estate developers during the early and mid-1980s.
Bruce has successfully overseen the origination of more than $15 billion of commercial loans and advised on the acquisition of more than $10 billion of real estate-related investments. Under his management, he was able to identify several problematic lending relationships within a $5 billion loan portfolio and achieve full repayment before the lenders filed for bankruptcy. Bruce has overseen the management of operations and development of a large year-round resort community, selling the project for a price more than 50% above expectations, and managed condominium projects with diverse stakeholders and problematic financing to successful conclusions.
Bruce served as a consultant to Deutsche Bank’s Community Development Finance Group from 2004 to mid-2014, focusing on lending to financial intermediaries and developers of low- and moderate-income housing in the greater New York City area. He also sat on the board of Conterre Corporation, a real estate company with investments in the southeastern U.S., for 14 years, until 2012, when its parent company went private.
Bruce is a graduate of the Kent School and has a BA in chemistry from Wesleyan University.