The market was rife with uncertainty in early 2023. But uncertainty can present opportunities.
“One of the key elements to being a successful real estate investment management firm is finding opportunity in moments of distress,” said Langdon Park Capital (LPC) founder and CEO Malcolm Johnson.
Johnson needed a reliable financial institution to handle his real estate investment management company’s treasury needs. “JPMorgan Chase was a natural answer to that call,” he said.
Leveraging a longstanding relationship
Prior to founding LPC in 2021, Johnson spent nine years as a banker at JPMorgan Chase. So he knew the firm could provide solutions.
“I founded Langdon Park Capital not just to create strong, durable financial returns,” Johnson said. “But to create opportunities for the Black and Latino families who live, work and play in the communities where we own and operate properties.”
“One of our biggest missions at the outset was to be institutional so we can have the largest impact and to operate at scale,” he said. And that meant making the right connections.
Standing out from the competition
When Johnson reached out, there was a sense of urgency. “Johnson was looking for a bank to work with closely and also trust with his assets,” said Anila Ranmal, Treasury Management Officer at JPMorgan Chase. “He wanted to make sure he made the right decision.”
Initially, LPC wanted to add one bank account. But the conversation went further.
“We discussed connectivity leveraging their ERP system with the bank system and managing their accounts payables and accounts receivables,” Ranmal said. The conversation extended to cash management and liquidity options, reporting needs and fraud prevention.
JPMorgan Chase stood out as a treasury management provider for several reasons:
- Financial strength and security: JPMorgan Chase’s financial stability was one of the top factors in LPC’s decision. “The fortress balance sheet gave us and our investors every bit of confidence that we could and would be a fiduciary, and we could and would do the right thing for the people who lived in our communities,” Johnson said.
- Extensive resources: “Our treasury needs are unique,” Johnson said. “We have thousands upon thousands of vendors that our property managers serve on a daily basis. We have multiple accounts in multiple states.” The firm offers commercial real estate-specific tools and advanced treasury management technology to address those needs.
- Dedicated team of industry experts: LPC has its own dedicated team of experts in commercial real estate treasury management that provides ongoing direct support. “The team responded quickly and with every bit of precision, which allowed us to—without missing a beat—continue to serve our clients, the families in our communities,” Johnson said.
- Ability to meet ongoing treasury needs: The team can provide LPC with tools, solutions services to meet the organizations’ current treasury needs and grow in the future. “The breadth and the scope of JPMorgan Chase can meet each of our firm’s needs,” Johnson said.
Langdon Park Capital and JPMorgan Chase by the numbers
12+
accounts with JPMorgan Chase
10
team members focused on LPC’s treasury needs
1
cash-management platform, Chase Connect®
Addressing current and future treasury needs
LPC and the treasury team immediately clicked.
“As soon as we started working with them, the treasury team became family with the Langdon Park Capital team,” Ranmal said. “We have the same goals—and we’re focused on affordable housing and underserved communities.”
Now, the treasury team is helping LPC consolidate its banking relationships. “That way, we can vertically integrate visibility for their property management companies,” Ranmal said. From there, the team aims to further digitize LPC’s rent payment system.
And there are bigger plans ahead, including implementing financial literacy programs at LPC properties.
“This is just the beginning,” Johnson said. “There are opportunities in every corner of JPMorgan Chase for us to continue to grow.”
The JPMorgan Chase treasury team helps solve each business’ unique needs, from liquidity management to real-time payment and API integration.
