Board Member & Head of Investment Committee

Mr. Tibbals is a Board Member and Head of Investment Committee at Black Bear Asset Management (“BBAM”). Mr. Tibbals is responsible for advising on acquisitions, dispositions, financings, re-financings, asset management, development and redevelopment of multifamily, office, retail, hotel, land and other property types.  Mr. Tibbals has over 40 years of experience in the real estate industry and spent most of his career at Citigroup and Salomon Brothers’ investment bank, holding various positions with principal responsibilities in the commercial real estate area.

Mr. Tibbals was hired by Salomon Brothers in the mid 1980’s to develop the securitization market for commercial mortgages, playing the leading role in creating the first generation of CMBS securities where he sourced and structured several billion dollars of new deals issued primarily by life insurance companies. Several years later he was Salomon’s lead banker for the RTC in regard to the sale and securitization of commercial mortgage loan product. After the successful RTC program, he started Salomon’s own commercial mortgage conduit securitization program and over the next 10 years had management responsibility for this program, greatly expanding it by the late 1990’s with the consolidation of Salomon, Smith Barney, and Citibank’s separate conduit lending programs.  During this time, he also started and managed a large proprietary first mortgage lending program for Salomon/Citigroup’s own balance sheet and managed this lending program for 15 years where he oversaw the origination of over $12 billion of loan product.  Over his last five years at Citigroup, Mr. Tibbals focused on managing a large proprietary, commercial real estate related investment book consisting of CMBS, subordinated debt product backed by all types of commercial real estate, distressed commercial mortgage loans, direct acquisitions of commercial real estate equity investments and private equity investments in real estate operating companies.

Mr. Tibbals earned an MBA from NYU, and a BA from Trinity College.