Veteran commercial real estate broker Tere Blanca has joined the board of directors of the newly recapitalized BankUnited, which the FDIC helped restore to profitability as a lender to commercial developers.
Chief executive John Kanas, who on behalf of billionaire Wilbur Ross took over the failing bank, drowning in subprime mortgage debt, in 2009, called the addition “fortunate.”
“Her vast knowledge of the commercial real estate industry and her exemplary leadership within the business community will make a noteworthy contribution to our board,” Kanas said in a release.
Blanca has been in the trenches of South Florida real estate for more than 25 years. Prior to launching Blanca Commercial Real Estate in 2008, she served as senior managing director for Cushman & Wakefield of Florida, Inc., where she led the firm’s regional operations.
After the FDIC picked up $5.9 billion of the bank’s losses, BankUnited has grown to more than $12 billion in assets and nearly 100 locations nationwide, as The Real Deal previously reported. — Emily Schmall