Northmarq Expands into Investment Management Following Merger with Morrison Street Capital
May 21 2024 - 11:00AM
Business Wire
Leading commercial real estate capital markets firm Northmarq
announced today its merger with Morrison Street Capital, a
22-year-old investment management company headquartered in Lake
Oswego, Ore. (Portland). Upon deal closing, the registered
investment advisor currently known as Morrison Street Capital is
renamed Northmarq Fund Management.
The merger also coincides with the acquisition of NBS Real
Estate Consulting, a boutique business affiliated with Morrison
Street Capital that provides advisory services to real estate
owners and lenders. NBS Real Estate Consulting, also based in Lake
Oswego, Ore., will now operate as Northmarq Advisory Services.
“This merger serves as an important milestone as we continue to
expand our national platform,” said Jeffrey Weidell, chief
executive officer for Northmarq. “Northmarq’s extensive commercial
real estate and capital markets knowledge, supplemented by Morrison
Street Capital’s nimble investment strategies, will allow us to
deliver a new and best-in-class service to our investors, partners
and borrowers. The capital in our new fund will help bridge gaps to
allow our clients to close deals in this challenging market.”
The integration of these companies continues the successful
Morrison Street Fund series, currently including three closed-end
funds and one open-end investment vehicle, which will continue to
be led by founder, President and CEO Rance Gregory. The existing
Morrison Street Capital team will remain based in Lake Oswego and
the company will continue to operate its existing investment
strategies, now with the ability to launch new and expanded
vehicles that access Northmarq’s network for capital relationships,
deal flow, market underwriting and research.
“Aligning Morrison Street Capital and NBS Real Estate Consulting
with Northmarq is an ideal match,” said Gregory. “Investors and
real estate operators can continue accessing our Funds and advisory
services through the same management team they’ve known over the
past 20-plus years. Meanwhile, we can better serve our clients
through the greatly expanded network and nationwide resources
Northmarq has to offer.”
David Elkins, president of NBS Real Estate Consulting, agrees by
adding, “We’re equally excited to join Northmarq and collaborate
with colleagues across the country on ways to enhance and expand
advisory services for our clients.”
Founded in 2002, Morrison Street Capital’s history includes in
excess 180 investments and $750 million of fund capital invested in
over 300 properties with combined transaction value, including
mortgage debt, of nearly $5.4 billion. Morrison Street Fund
investments are diversified throughout the country and include
retail, multifamily, industrial, office, parking and hotels.
About Northmarq
Northmarq is a full-service capital markets resource for
commercial real estate investors, offering seamless collaboration
with top experts in debt, equity, investment sales and loan
servicing. We combine industry-leading capabilities with a flexible
structure, enabling our national team of experienced professionals
to create innovative solutions for clients. Our solid foundation
and entrepreneurial approach have built an annual transaction
volume of more than $37 billion and a loan servicing portfolio of
nearly $77 billion. Through the 2022 acquisition of Stan Johnson
Company, Northmarq introduces clients to expanded opportunities
across all major asset classes. For more information, visit
www.Northmarq.com.
About Morrison Street Capital
Morrison Street Capital, LLC serves as the investment manager of
the Morrison Street Funds. The firm is a trusted source for small
balance equity, mezzanine debt and preferred equity investments. We
pride ourselves on our responsive approach and our commitment to
integrity, flexibility and ingenuity. Since 2002, the firm has
targeted inefficiencies in commercial real estate markets by
investing in public debt, private equity and private debt on behalf
of pension plans, foundations, endowments, family offices and high
net worth individuals and families.
[www.morrisonstreetcapital.com]
About NBS Real Estate Consulting
NBS Real Estate Consulting provides advice to individual and
institutional real estate owners, ranging from expert testimony and
receivership assignments, planning, entitlement, financial
analysis, leasing and operations oversight, development and project
management. Since 2017 NBS Real Estate Consulting has served over
40 clients across the country from offices in Portland and San
Antonio. [www.nbsreconsulting.com]
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Bailie Peterson Allison Worldwide for Northmarq
Bailie.Peterson@allisonworldwide.com 317-625-1038