Carol A. Kawell is an innovative and accomplished real estate professional with over 30 years experience in commercial real estate financing and distressed asset portfolio management.   Carol has been successful in resolving complex real estate lending situations both as a mortgage broker and as a senior lender  with major financial institutions; First National Bank Holding Co., Bank of America, and Valley National Bank (now JP Morgan Chase).

In 1994, Carol founded The Madison Group. Carol is the Responsible Individual for the Arizona Commercial Mortgage Brokers License (CMB-0919610) and the Designated Broker for the Arizona Real Estate License for the firm (1984-present).

She has an in-depth knowledge of all types of commercial real estate  and has secured financing for retail, office, industrial, multifamily, hotel/resort, single family subdivisions, land and special purpose. Portfolio management experience includes financing, sales, modification and restructuring of “nonperforming” loans, project analysis, and expert witness testimony.

As Senior Vice President of First National Bank Holding Company she was responsible for originating and placing over $600 million in commercial real estate permanent debt in the CMBS secondary market. Carol’s responsibilities also included the management of real estate loan concentrations between 3 affiliate banks ($4 billion in assets) and over 15 non-affiliate bank relationships. As department manager, her portfolio averaged $775 million of commercial real estate loans.

Loan portfolio management also included oversight of extensive groundwater remediation, complex title issues, and numerous litigation and adversary proceedings with loans requiring extensive negotiations with international borrowing entities and syndicated bank groups. Portfolio resolution included loan restructuring, foreclosure, REO liquidation, and note sales. 

Since 2011 she has been engaged as an expert witness in seven commercial real estate litigation proceedings. Specific areas of expertise include:  Commercial lending underwriting,  Financing feasibility, Credit policy & procedure adherence, Standard of care with loan defaults and foreclosures, Bankruptcy, and Deficiency matters.

Carol earned a Bachelor of Science degree in Business (Marketing) from Western International University.  Throughout her career, Carol has been active in both the real estate industry and charity non-profit boards. She has been a member of AZCREW (Arizona Commercial Real Estate Women) and served as a director and treasurer for several years, and is a member of ULI and NAIOP.

Carol has been a board member of several charities benefiting woman and children and received the National Society of Fund Raising Executives “Spirit of Philanthropy Award” twice. Carol was co-founder and chair of a major charity golf tournament, “Fairways to Hope”, raising proceeds for charities exceeding $400,000.  She currently donates her time and experience to a local non-profit dedicated to providing housing to homeless families managing the non-profit's real estate portfolio.