{"id":1004714331,"date":"2024-05-22T02:09:00","date_gmt":"2024-05-22T10:09:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004714331"},"modified":"2024-05-22T11:39:00","modified_gmt":"2024-05-22T19:39:00","slug":"northmarq-merges-with-morrison-street-capital","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/northmarq-merges-with-morrison-street-capital\/","title":{"rendered":"Northmarq Merges With Morrison Street Capital"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004607265\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/northmarq-completes-stan-johnson-co-acquisition\/jeff-weidell\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Jeff-Weidell.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Jeff Weidell\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Jeff Weidell, CEO, Northmarq. Photo courtesy of Northmarq&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Jeff-Weidell.jpg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Jeff-Weidell.jpg?w=1024\" alt=\"Jeff Weidell, CEO, Northmarq\" class=\"wp-image-1004607265\" style=\"width:337px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Jeff-Weidell.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Jeff-Weidell.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Jeff-Weidell.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Jeff-Weidell.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Jeff Weidell, CEO, Northmarq. <em>Photo courtesy of Northmarq<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>In one swift move, Northmarq will be expanding into the investment management and advisory sectors.<\/p>\n\n\n\n<p>Northmarq will merge with investment management company Morrison Street Capital. Upon closing, the Oregon-based firm will be renamed Northmarq Fund Management.<\/p>\n\n\n\n<p>&#8220;We recognize that Morrison Street Capital would be the ideal partner for us to grow Northmarq Fund Management,&#8221; Northmarq chief financial officer Shawn Power told <em>Commercial Property Executive.<\/em> &#8220;The capital in our new fund will help bridge gaps to allow our clients to close deals in this challenging market.&#8221;<\/p>\n\n\n\n<p>As part of the same transaction, Northmarq is acquiring NBS Real Estate Consulting, a boutique business affiliate of Morrison Street Capital. The company will continue to provide real estate advisory services as Northmarq Advisory Services.<\/p>\n\n\n\n<p>&#8220;This is an exciting opportunity for our combined companies to expand and enhance the services we offer to our investors and clients,&#8221; the Power said.<\/p>\n\n\n\n<p>The Morrison Street Fund series, made up of three closed-end funds and one open-end investment vehicle, will continue to run under the same management post-merger. The Morrison Street Capital team will remain in Lake Oswego, Ore.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The companies involved, up close<\/h2>\n\n\n\n<p>Founded in 2002, Morrison Street Capital has $740 million of fund capital invested in more than 300 properties. Morrison Street Fund targets various property types including retail, office, industrial and multifamily. <\/p>\n\n\n\n<p>Commercial real estate capital markets giant Northmarq has a transaction volume of more than $37 billion annually. The company also has a loan servicing portfolio of nearly $77 billion.<\/p>\n\n\n\n<p>Outside of mergers and acquisitions, Northmarq has already had a busy year. It recently arranged a $40 million acquisition loan for a 621,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/centersquare-jv-buys-621-ksf-portfolio-lands-40m-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\">Houston industrial portfolio<\/a>. And earlier in 2024, Northmarq also arranged the $13 million acquisition loan of an <a href=\"https:\/\/www.commercialsearch.com\/news\/first-interstate-properties-sells-cleveland-industrial-campus\/\" target=\"_blank\" rel=\"noreferrer noopener\">industrial campus in Cleveland<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal will expand the company\u2019s offerings to include investment management and advisory services.<\/p>\n","protected":false},"author":3006,"featured_media":1004607265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,23891,21742,28440,15],"tags":[35479,50380],"class_list":["post-1004714331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-national","category-latest","category-portland","category-west","tag-morrison-street-capital","tag-northmarq"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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