About Our Office

Our Dallas office, with average annual production volume of more than 150 transactions, provides a complete range of debt and equity options for all types of commercial real estate financing. We are Freddie Mac and Fannie Mae specialists and correspondents for more than 30 life insurance companies. We routinely arrange equity for both the acquisition of existing properties and for the development of new construction. In addition, we offer investment sales for multifamily and manufactured housing properties. Call our local office to learn more.

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Dallas-Fort Worth Q3 Market Report: Demand Outpacing Supply Growth, Pushing Rents Higher

Highlights

  • Multifamily conditions in Dallas-Fort Worth strengthened during the third quarter. The pace of job growth accelerated, apartment vacancy improved for the second consecutive quarter, and rents rose at a steady rate.
  • Absorption of apartments totaled approximately 9,600 units during the third quarter, and renters have moved into a net of nearly 24,000 units year to date. The strong renter demand drove vacancy down 40 basis points in the third quarter to 4.5 percent, the lowest rate in four years.
  • Asking rents rose 1.6 percent during the third quarter, reaching $1,174 per month. Current rents are up 4.7 percent from one year ago.
  • While sales of apartment properties slowed slightly from the second quarter to the third quarter, activity thus far in 2019 is ahead of last year’s pace. Prices are trending higher, and cap rates have compressed in each of the last two quarters.

Read this report.

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Dallas Q2 Market Report: Job Gains Push Absorption Totals to New Heights

Highlights:

Dallas market Q2 snapshot
  • The Dallas-Fort Worth multifamily market benefitted from robust levels of job growth and a spike in the net absorption of apartment units during the second quarter. The outlook for the remainder of the year remains positive.
  • Net absorption totaled more than 11,600 units in the second quarter, driving the vacancy rate down 90 basis points to 4.9 percent. Year over year, vacancy is down 30 basis points.
  • Rent growth accelerated during the second quarter. Asking rents reached $1,155 per month, rising 4.7 percent from one year ago.
  • Investment activity picked up during the second quarter, while prices rose and cap rates compressed. Through the first half of this year, the average cap rate in transactions where pricing data was available was 5.2 percent, while the median price had risen to $118,800 per unit.

Read the report

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Bobby Weinberg joins InterFace Panel: Dallas industrial market poised to withstand recession

On September 4, Bobby Weinberg of NorthMarq’s Dallas office spoke on the lenders and investors panel at InterFace DFW Industrial.

The panel, titled “Dallas Industrial Market Poised to Withstand Recession,” covered such topics as market evolution, tailwinds from e-commerce and direct-to-consumer models, and lenders’ increased appetite for the industrial properties.

Central to the panel’s discussion as to why the Dallas-Fort Worth (DFW) industrial market is likely to weather severe economic storms was the notion that the metroplex is simply a different market today than it was in the recent past.

“Even as recently as 2010, this was still considered a secondary market,” said Weinberg. “International investors and big pension funds that got crushed buying in Dallas in the ‘80s or ‘90s still view the market similarly, but it’s different. Yields are lower because more investors are targeting this market, but it’s really an exciting time to be positioned where we are in DFW.”

Read the full story here.

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Texas Multifamily Finance Updates: Population growth of 14 percent spurns apartment activity

As regards new construction, what is the biggest point of optimism for the multifamily finance market in major Texas cities right now, and what is the biggest point of concern? 
Demographics and costs. Demographics continue to support the current construction pipeline as people and corporations continue to move to Texas given favorable business environment and low cost of living. Since 2010, the population has grown by 14 percent with the DFW adding over one million people.

Costs are always a concern for developers and the uncertainty from the trade war and tariffs has created a tough environment for general contractors to lock in pricing. However, lumber prices on garden-wrap and podium product has allowed general contractors to keep costs inline minimizing the net effect to developers. On the Chicago Mercantile Exchange, lumber futures contract prices have fallen by nearly 45 percent from highs in the summer of last year to around $350 per thousand board feet. 

What kinds of leverage ratios and terms are we currently seeing with Class A multifamily construction projects, and how that the needle moved on that lately? 
We continue to see efficient capital markets for multifamily construction. Depending on the experience and strength of the developer, lenders continue to provide 65-75 percent of construction costs. Floating rate spreads over Libor are attractive especially considering the market is pricing in an additional 50-75 basis point decrease from the Federal Reserve in 2019 with no increases in the forward curve for the next 10 years. For borrowers, this means that rates will likely decrease during construction and lease up.

Construction loans have been made more viable by the availability of multiple exit scenarios. The sales market has been robust with recently completed projects selling at competitive cap rates. In addition to a sales exit, lenders have been willing to refinance out construction loans during lease-up “Pre-Stabilization” providing developers an avenue to own projects long term and in certain instances return a portion of the equity. Life companies are providing permanent loans for projects in lease up with minimal premium in the rate compared to stabilized projects.

How significant have the effects of Federal Reserve policy in 2019 been on demand for construction financing for multifamily projects?
Very limited effect. The cost of capital remains attractive to borrowers and is not driven by the Fed’s decisions to cut the target rate.

The inversion of the yield curve caused and the dramatic decrease of the 10-year treasury has created a flurry of activity from borrowers and lenders for fixed-rate loans. Given that short-term rates, i.e., the Fed Funds rate, is not directly correlated to the long end of the curve, permanent financing remains very attractive for our clients.

Life companies are providing long-term construction financing in the four’s for 50-65 percent of cost loans with the ability to upsize the loan upon stabilization. 

How much growth have you seen/experienced in demand for construction financing for affordable housing, and how do you see that growing in the future?
It is still a small part of the market. Obviously, there is plenty of demand for the product across the country and the capital markets are extremely efficient on existing work force housing product. Unless a project is significantly subsidized, construction costs do not support the equity returns required to build for affordable renters (80 percent or less AMI).

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Dallas-Fort Worth Q1 Multifamily Market Report: Job Growth Gains Momentum, Fueling Renter Demand

Highlights:

Dallas-Fort Worth Multifamily market indicators Q1 2019
  • Many of the trends in the Dallas-Fort Worth multifamily market that prevailed in 2018 carried over to the first quarter of this year. Employers accelerated their pace of payroll growth, fueling demand for apartments. Construction of new units remained active.
  • Employment growth in Dallas-Fort Worth accelerated in the 12-month period ending in the first quarter, with 105,900 net new jobs added, a 2.9 percent gain.
  • Rents are on the rise, advancing 4.4 percent in the past 12 months to $1,131 per month at the end of the first quarter.
  • Investment activity has been very consistent in recent quarters. Sales activity during the first quarter closely tracked levels from one year earlier. The median price and average cap rates were similar to figures from 2018.

Read the report

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CoStar presents NorthMarq with 2018 Power Broker Awards for Top Sales Broker and Top Sales Firm

CoStar recently announced its 2018 Power Broker Awards, celebrating the top CRE firms and brokers in the United States. NorthMarq’s Shane Shafer, managing director of NorthMarq’s Los Angeles office and Taylor Snoddy, managing director of NorthMarq’s Dallas office were recognized as Top Sales Broker in their markets. NorthMarq’s Phoenix and Dallas offices each earned a place in the ranks of Top Sales Firms in their markets.

Shafer and Snoddy were recognized for achieving high levels of sales transaction volume in their regions. The Top Sales Broker award distinguishes individuals based on the CoStar market in which the individual is located and is calculated using pricing information from closed sales transactions contained in CoStar’s COMPS database.

See Shafer’s listing here.

See Snoddy’s listing here.

The Phoenix and Dallas offices were listed due to their high levels of sales transaction volume in 2018. The Top Sales Firm award is bestowed upon recipients based on the CoStar market in which the company is located and is calculated using pricing information from closed sales transactions contained in CoStar’s COMPS database.

See the Phoenix listing here.

See the Dallas listing here.

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Dallas Q4 Market Report: Expanding Payrolls Fueling Multifamily Market

Highlights:

Dallas 4Q2018 market indicators
  • The Dallas-Fort Worth multifamily market posted a strong year in 2018. Employers in the area were particularly active in expanding payrolls, fueling renter demand for apartments.
  • Rents rose 4 percent in 2018, ending the year at $1,123 per month. Rent growth is being supported in part by the delivery of new, more expensive units to the market.
  • The local investment market has remained very consistent in recent years, and sales velocity was steady throughout 2018. A broad mix of properties have changed hands, and there have been wide ranges in per-unit prices. Cap rates compressed by approximately 30 basis points in 2018, averaging in the low- to mid-5-percent range.
  • Vacancy ended 2018 at 5.5 percent. The rate rose 70 basis points from the third quarter to the fourth quarter, but vacancy is lower than one year ago. Vacancy has remained in a fairly tight range since year-end 2016. Vacancy increased at the end of the year in response to a high number of new deliveries in 2018.

Read the full report

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Steve Ashworth celebrates 20 years with the company

Steve Ashworth in our Dallas office celebrates 20 years with the company this month. Thanks for being part of the team, Steve!

Steve Ashworth in our Dallas office celebrates 20 years with the company

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Ron Reese celebrates 25 years with the company

Ron Reese in our Dallas office celebrates 25 years with the company this month. He’s a fan of the TCU Horned Frogs and an avid golfer, though he’s discovered the slots produce more wins than hitting the links. Thanks for being part of the team and “the best partner ever,” Ron!

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Trends in Dallas Senior Living in 2018

By: Ruth Davis, vice president

With a plethora of new senior living projects popping up all over the Dallas MSA and beyond, those that really stand out are offering something different in addition to top-notch care. As noted in the recently held Bisnow Dallas Senior Living conference, the trend is still for profit luxury products that appeal to more discerning baby-boomer adult children of incoming residents.

Costly amenities from past developments, such as the fountain at the entry, are now designed for better functionality, such as a playground with an adjacent café and cozy outside patios, spas and therapy open to the public, all warmly welcoming family members and friends to encourage better interaction with happy residents. A state-of-the-art development outside of Dallas is incorporating such features, which also serve as a marketing tool. Since the playground, café, salon/spa, and therapy businesses are open to the public, this is designed to promote this community as the best in town and the place to send mom or dad when the time comes.

Another trend involves active adults (empty nesters) who are looking for larger units in central locations, perhaps near universities, culture and arts, golf courses, as well as fine dining choices. These seniors are active and social and demanding. They don’t want to be cooped up in their large suburban homes, but they do want sufficient well-designed space with all the bells and whistles in an entertaining area where they can enjoy the company of other like-minded active seniors. They want a new fun residence that feels like home. The university setting allows for continuing educational experiences where young and old can learn from each other. Older adults are still valuable as guest speakers. Multigenerational consideration will be a continued trend as the baby boomers step into the seniors world.

So is there room to grow for more seniors projects in Dallas? While some areas appear to be oversaturated in locations with low barriers to entry, others are still viable. Those who have thoroughly done their homework on market demand, feasibility, project design, with a best-in-class operator will reap the benefits, as will their residents.

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How to Maximize Green Loan Savings

Green loans can offer big savings to multifamily property owners in Texas, but only if utilized properly

Few trends have had bigger impacts on multifamily financing over the past few years than the movement to reward green upgrades. Both Fannie Mae and Freddie Mac have programs that reward borrowers with interest rate discounts and proceed benefits if they make upgrades that save between 15 to 20 percent in water and/or energy usage. By making these upgrades, borrowers can realize significant savings on interest rates of agency loans, lower utility costs and possibly increase proceeds by an additional 5 percent.

However, many factors make it difficult to wait to make energy and water upgrades until the agency loan has been received. Moreover, in Texas, many municipalities are providing incentives to install new toilets or watersaving features, making it affordable for the current owner to implement such upgrades soon after acquisition.

According to the Federal Reserve Bank of Dallas, between 2005 and 2016 the Dallas-Fort Worth area saw net migration of 838,501 people; Houston saw net migration of 815,799 people during the same period. This heavy population growth has prompted state and local officials to look for new ways to conserve water while meeting demand from new residents. To do this, municipalities are approaching multifamily property owners, particularly owners of Class B and C assets, about using water more efficiently.

Furthermore, as cap rates have tightened and loan proceeds have reached lower leverage points in Texas, bridge loans for multifamily deals have become popular structures for acquisitions. And as more bridge loans are sought for acquisitions of Class B and C properties — which are prone to chronic energy and water issues — the question of when green upgrades should be made becomes integral.

The answer: as part of a refinancing or at the time of sale.

Timing Is Everything
It is crucial to make green upgrades at the right time. The purpose of getting the lower rate and extra proceeds on your Fannie or Freddie loan lies in the idea that the agency loan is the catalyst for making these green upgrades in the first place. You are thus unlikely to be rewarded for green upgrades made prior to the closing of the agency loan, beyond getting the property energy-certified by an approved rating agency.

Waiting can be difficult on bridge loan acquisitions, since a major benefit of bridge loans involves the ability to roll capital expenditure dollars into the loan amount. Often a bridge loan is computed as a percentage of the total cost of the acquisition and the value is determined on an as-stabilized basis. Thus, you can get these proceeds up front for many renovations.

This presents a tough choice: you can get money up front to make renovations, but you may not get rewarded later with your agency exit. The key is to know whether you’re going to refinance later with an agency loan or sell.

If you plan to sell, showcasing available water or energy upgrades from which the buyer can benefit may be a selling point. Traditionally, water upgrades are the least expensive to make, so marketing the absence of low-flow toilets or faucets will appeal to buyers.

In Texas, this appeal has been heightened, with many cities ready to offer incentives for water upgrades. For example, Dallas offers a $90 rebate for each high-efficiency toilet installed on units built before 1994. New Braunfels offers a $350 rebate for a conversion to drought-tolerant landscaping and San Antonio offers free, high-efficiency showerheads and faucet aerators.

These features allow new owners to not only reap the benefits of green programs, but to also recoup the costs of upgrades prior to the end of the loan term, resulting in long-term savings for the buyer.

Going the Certification Route
Should you make both energy and water upgrades prior to selling, you may want to consider getting your property certified for energy efficiency. Getting a certification from a pre-approved company can also yield a lower rate for you and your future buyer.

Usually, the easiest certifications to achieve are Green Globes or Energy Star, both of which require owners to enter energy data into an online assessment, giving an indication of how close the property is to attaining certification. The two programs have different metrics for scoring water and energy upgrades, so it’s good practice to evaluate both.

Many investors recognize the benefits of going green and intentionally target upgrade opportunities on property tours. Should you become certified, your future buyer will qualify for the interest rate reduction, making your property more marketable.

Considering the bigger picture is critical when making green upgrades, and having an experienced mortgage banker by your side can help maximize your returns. Understanding of the programs offered by your municipality can also be a great selling point to a buyer and can reduce the cost of the upgrades needed to qualify for the agency green programs.

A strong acquisition strategy is vital, and knowing how to capitalize on opportunities in the debt markets is equally as important.

In the words of ancient Chinese military strategist Sun Tzu, “Strategy without tactics is the slowest route to victory, and tactics without strategy is the noise before defeat.”

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Phillip Bankhead featured in Texas Real Estate Business

Phillip Bankhead

Phillip Bankhead

Phillip Bankhead, senior vice president/senior director of NorthMarq Capital’s Dallas regional office, was recently featured in an article titled “Urban Dallas Faces Shortage of Retail Space” that appeared in the October edition of Texas Real Estate Business. The story focuses on rising rents/growing volumes of investment sales and capital lending for retail properties in Dallas that are heightening competition for quality space inside the 635 loop. And while many cities are worrying about e-commerce and digital sales platforms, Dallas is facing an old-fashioned  retail dilemma: How to find more locations and sell more product. Read the full story here.

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Shifting Stack: Lender Competition Heats Up Amid Fewer Deals

NorthMarq Capital’s Jeff Erxleben was featured in the Capital Markets Issue of Commercial Property Executive.  The article, titled “Shifting Stack: Lender Competition Heats Up Amid Fewer Deals,”  explained that while investment volume and lending activity are showing signs of a spring rebound,  a “comeback” will be complicated to say the least.

Takeaways from the article included:

  • Lending activity rebounded heading into the second quarter of 2017, with CMBS leading the way.
  • Abundant capital and a shortage of deals have lenders rethinking their strategies to win deals.
  • Borrowers looking for higher leverage are tapping into the mezzanine space to fill the gap.

Read the full story here.

 

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Ample capital drives growth in manufactured housing

As we turn the page on another successful Manufactured Housing Institute National Congress and Expo, several themes are emerging.

From the amount of capital in the market to the changes in the government agencies to continued reforms in financing for chattel, or homes, the industry of manufactured housing heads into the second half of 2017 with substantial momentum, thanks in part to a number of new entrants in the market.

A few statistics shared at the conference reveal the interest in the manufactured housing industry as a whole. First, this conference saw the most attendees for a National Congress and Expo since 2007. Second, the first quarter of this year has already seen a 23 percent increase in housing shipments over last year, with year-over-year increases of around 17 percent.

There are likely a few reasons for this increase. But above all else, capital is plentiful, fueled by heightened interest in the industry in the private equity and REIT space, as well as low interest rates.

With so much capital comes more interest. This interest has led to less ownership by traditional “mom-and-pop” entities and more competition, thus lower cap rates. In some regions, parks trading with sub-5 percent cap rates are seeing multiple offers. For parks with more than 150 pads, the competition is even more fierce, as those have traditionally been targets for REIT and private equity interest.

Also fueling this competition is the very attractive debt offered by both Fannie Mae and Freddie Mac. Around three years ago, Freddie made a big push into financing manufactured housing communities
via its ability to look at 3-star communities.

With this product, Freddie was able to work with community owners who didn’t have a “4 star” or higher rating to qualify for Fannie Mae loans, or those who previously only used CMBS debt for their non-recourse needs.

Likely viewing the success by Freddie in this space and seeing the continued need, Fannie reviewed its standards and dropped requirements to make its loans very competitive from an underwriting standpoint. Changes included removing the need to have 50 percent of the pads be “double-wides,” allowing this product into its small balance loan program and enabling more “3 star” parks to be considered. Now, more park owners have two great options with the agencies.

The biggest barrier to entry made by both agencies continues to be a restriction on the amount of park-owned homes. Fannie now allows the proportion of park-owned homes on acquisitions to be as high as 35 percent. However, the standard for both agencies continues to be around 25 percent.

This limitation on park-owned homes hinders the ability of some communities to take advantage of this financing. Thus, there is still a strong need for CMBS, bank and other capital sources.

Capital sources are plentiful in financing communities, but lack of financing of options for chattel, aka homes, continues to be a drag on the industry. For families looking to finance an individual manufactured home, lending rates continue to climb, leaving fewer options. However, positive trends seem to be emerging to relieve this burden, with both Fannie and Freddie having released their latest duty to serve plans.

At the conference, representatives from both agencies recognized the need for a secondary market to trade in chattel and are looking for ways to best accomplish this feat. Although this is not being done as fast as some would hope, the recognition and movement to establish lending parameters is a good start.

The industry looks strong as we enter the second half of 2017 and beyond.

 

 

This article originally appeared in the July 2017 edition of Texas Real Estate Journal. See it here.

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Steve Whitehead featured in Texas Real Estate Business

Stephen Whitehead, senior vice president/managing director of NorthMarq Capital’s Dallas office, was a featured contributor in a Texas Real Estate Business article titled “Green Loan Market Heats Up.” The story focuses on how the financing programs offered by GSEs reward apartment owners with lower interest rates for reducing water and energy usage. Check out the full article here.

 

The article originally appeared in Texas Real Estate Business, May 2017. ©2017 France Media Inc.

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Ruth Davis joins NorthMarq Capital’s Dallas office as vice president

DALLAS (May 9, 2017) – NorthMarq Capital, a leader in financing commercial real estate throughout the United States, announced today that Ruth Davis has joined its Dallas regional office in the role of vice president.

In her new role at NorthMarq, Davis will focus on sourcing debt and equity opportunities for all product types throughout the country. Davis comes to the Dallas team after three years with Dougherty Mortgage, where she originated loans on a national level for seniors housing and multifamily properties. Prior to Dougherty, Davis specialized in healthcare brokerage at Swearingen, preceded by healthcare and commercial valuation/consulting at Integra Realty Resources. Prior to Integra, Davis was the senior managing director at Landauer/Grubb & Ellis preceded by valuation/consulting services at Cushman & Wakefield.

In the community, Davis is involved with numerous professional organizations, including CCIM Dallas Chapter, REFEA (Real Estate Financial Association), Executive Women’s Healthcare Alliance, NIC (National Investment Center for Senior Housing), ASHA (American Senior Housing Association) as well as Dallas Real Estate Ministries (DREM), Wisconsin Real Estate Alumni & Honorary Member of the Aggie Real Estate Network. Davis is a past president of REFEA and served on the Board of Directors of CREW Dallas.

“We are pleased to have Ruth join the NorthMarq team,” said Jeff Erxleben, executive vice president/regional manager based in NorthMarq’s Dallas office. “Her extensive experience with seniors housing and multifamily coupled with our expanded scope of direct financing options, will allow her to bring creative solutions to our client relationships.”

Davis earned both a Bachelor’s degree in Real Estate and Urban Land Economics and a Master’s degree in Real Estate Appraisal and Investment Analysis from the University of Wisconsin-Madison. She also earned the MAI designation and has an active Texas Real Estate salesperson license.

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Jeff Erxleben interviewed by National Real Estate Journal

NREI“Now is a good time to be a borrower,” said Jeff Erxleben in the recent National Real Estate Investor story “Carpe Diem: Where is Debt Capital Coming From and Going To in 2017?” In the interview, Jeff discusses the current financing environment and the outlook for the rest of 2017. Read the article here.

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NorthMarq Capital announces Steve Whitehead as managing director of its Dallas office

DALLAS (January 10, 2017) – The Dallas-based regional office of NorthMarq Capital is proud to announce the promotion of Steve Whitehead to senior vice president/managing director. In his new role, Whitehead will manage the Dallas office’s production for insurance companies, agency lenders Freddie Mac and Fannie Mae, CMBS lenders, equity investors and other financing sources represented by NorthMarq.

“Steve has consistently earned a reputation as a top member of our Dallas team and is a leading conventional/student housing expert within the company,” said Jeffrey Erxleben, NorthMarq Capital executive vice president/regional manager. “Steve is a great example of homegrown talent rising through the ranks of the company.”

Whitehead has been an integral part of NorthMarq’s most profitable office since joining in 1996 as an investment analyst. During his tenure, he has specialized in providing all of the capital needs of clients, thanks to many years of building trust and relationships with institutional equity investors as well as agency and life company lenders. His focus has been in advising student housing and conventional multifamily owners and developers and providing the entire capital stack needed to close in acquisition or development timelines. For key clients, he has acted as an external finance arm to provide advice early on and has sourced off-market deals. Whitehead has been successful creating joint venture relationships as well as raising preferred equity, mezzanine and sponsor capital.

Whitehead is a graduate of Texas A&M University with a Bachelor of Business Administration in Finance and is a licensed Real Estate Salesperson in the State of Texas.

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A Look Inside the Federal Reserve Bank of Dallas

Bobby Weinberg, vice president of NorthMarq Capital’s Dallas-based regional office, authored a web post for The Real Estate Council (TREC) titled “Inside the Federal Reserve Bank of Dallas.” In the post, featured in the December edition of TREC Wire,  Weinberg discusses a recent tour he took of the Dallas Fed that provided him a refreshing take on the federal reserve system and one of Dallas’ most iconic real estate assets.

Read the full story here.

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Patrick Minea, Jeff Erxleben promoted to Executive Vice President/Regional Manager

MINNEAPOLIS (Dec. 12, 2016) – NorthMarq Capital Presidents Jeff Weidell and William Ross announced today two promotions to the company’s executive team. Patrick Minea, managing director-Minneapolis, and Jeffrey Erxleben, managing director-Dallas, were promoted to the new position of Executive Vice President/Regional Manager, becoming permanent members of the company’s Executive Committee.

Both Patrick and Jeffrey will retain their local production roles but will add more oversight of NorthMarq Capital’s regional offices, primarily in achieving hiring, development, and production goals. Both will join the company’s Executive Committee, which includes Presidents Weidell and Ross; Jay Donaldson, president-Fannie Mae and FHA Platforms; Travis Krueger, chief financial officer; Mike Myers, chief operations officer; and Eduardo Padilla, chief executive officer.

“Both Jeff and Pat have excelled in diversified production experience, working with multiple capital providers, and uphold the NorthMarq values of quality, fairness and teamwork,” said Weidell.

“We are pleased to have such strong leaders to add to the Executive Team as we position our company for continued success,” said Ross.

Pat has been in real estate finance since 1987 and joined NorthMarq Capital in 1992. He is a proven producer who is highly experienced in all areas of debt and equity finance, and has been a Managing Director of the Minneapolis Office since 2000. He is a member of the Minnesota Multi-Housing, Minnesota Shopping Center Association, ULI and the MBA. He served as Treasurer for the NAIOP Minnesota chapter and on the NAIOP Board for three years. He obtained his undergraduate degree from Saint John’s University.

Jeffrey is responsible for managing NorthMarq’s Dallas office and for originating debt and equity transactions throughout the United States. He currently serves on NorthMarq’s DUS/FHA Advisory Board, Freddie Mac’s Seller Servicer Advisory Board and has served on NorthMarq’s Producer Council. He is also vice-chair for the Mortgage Bankers Association’s (MBA) Originations Council, an active member of within National Multifamily Housing Council (NMHC) and active within the Folsom Institute for Real Estate. He joined NorthMarq in 2002 and obtained his bachelor of arts from Southern Methodist University.

About NorthMarq Capital
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks and has a long track record of multi-family loan origination through Freddie Mac Program Plus™, the Fannie Mae DUS program and through FHA, resulting in nearly $13 billion in annual production volume and a loan portfolio of more than $47 billion. For more information please visit northmarqcap.wpengine.com.

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A Look Inside NorthMarq Capital

Jeffrey Erxleben, senior vice president/managing director of NorthMarq Capital’s Dallas-based regional office was recently interviewed by The Real Estate Council (TREC). The article, titled “A Look Inside NorthMarq Capital” appeared in the July 19 edition of the TREC Newswire.

Read the full story below to find out what separates NorthMarq Capital from the competition, as well trends in the Dallas CRE industry.

What sets NorthMarq apart from other companies in investment banking?
NorthMarq is the nation’s largest privately held servicer and provider of commercial real estate debt and equity. As a direct lender, we provide creative financing solutions through Freddie Mac, Fannie Mae, FHA, as well as our correspondent life company relationships. We are known for our deep relationships with our lenders and borrowers, our commitment to the life of the loan and our certainty of execution.

What is something we might not know about NorthMarq?
Our ownership, the Pohlad Companies based in Minneapolis, is a diversified holding company that started with a 60-year focus in banking and finance. The organization now spans several sectors: sports and entertainment, which includes a movie production studio, a radio station and a Major League Baseball team, the Minnesota Twins; commercial real estate, which includes investment and development firm United Properties, commercial mortgage banking firm NorthMarq Capital, and two companies affiliated with Cushman & Wakefield serving Minnesota, Idaho, Nevada, Washington and Utah; and the automotive sector, owning with more than 20 automotive dealerships. The Pohald Companies also has a significant presence in private investing with strategic investments through PFCF (the Pohlad Family Capital Fund) and PFEF (the Pohlad Family Energy Fund). These investments generally range in value from $5 to $40 million.

More than 2,500 professionals are employed in more than 30 companies operating across the United States. Marquette Companies serves as the holding company for many of our operating businesses. In addition to its business interests, the Pohlad family has a long history of community involvement and charitable giving through the Pohlad Family Foundation. Our businesses contribute at the local and community level as well.

What trends are emerging in Dallas for investment banking? Are those trends the same across the country?
Consolidation of investment banking firms is a well-established trend in Dallas. It is most efficient for a borrower to employ a firm with experts that source the entire capital markets on a direct basis. We see that same trend nationally as well.

How has working for NorthMarq benefited your career?
Throughout my career at NorthMarq I’ve been fortunate to be mentored by the leadership within our company. NorthMarq has been focused on growing our company and largely committed to growing organically. Equally as important, NorthMarq’s culture has always emphasized working collectively as a team where all of our knowledge combined is far more effective than any single individual.

NorthMarq employees have been engaged with TREC since 2002 through numerous leadership positions and many are graduates from the ALC program, including yourself. What about TREC not only engages you personally, but also NorthMarq as a company?
In addition to the connections within our industry, TREC provides a way for us all to have a meaningful impact on the lives of others within our city. The work TREC does makes a difference!

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Suzanne Jones recognized by Real Estate Forum as a Woman of Influence

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Suzanne Jones

Suzanne Jones was selected as a Woman of Influence: Southwest by Real Estate Forum magazine. Check out coverage in the November 2015 issue.

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