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Our Nashville office provides investment sales expertise for the acquisition and disposition of multifamily and manufactured housing properties. Call our local office to learn more.

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Northmarq’s opening of Nashville office featured in REBusiness Online

NASHVILLE, TENNESSEE (March 16, 2023) – The official opening of Northmarq’s Nashville office continues to make waves in the CRE industry, with a recent feature story on the news appearing in REBusinessOnline. The new team will serve the Middle Tennessee, Northern Alabama and Kentucky markets and is expecting to grow to upwards of 20 professionals across its debt/equity and investment sales platforms.

Northmarq’s new office comprises, from left to right (back row), Jesse Lemos, William Rhett and David Stollenwerk. On the front row, left to right, is Ben Crawford, Bryan Schellinger, Carter Koontz, Daniel Anderson and Brenden Bercaw.

Bryan Schellinger, managing director of investment sales, is leading Northmarq’s Investment Sales division at the new office. “We’re actively looking to add an industrial investment sales team [in Nashville] given the significant growth in the sector across the Southeast and Tennessee,” said Schellinger. “Northmarq’s Nashville office will soon be able to provide a suite of services for all property owners and lenders.”

Locally based broker David Stollenwerk joined the new Northmarq office after several years with Marcus & Millichap’s Nashville office. On top of being attracted to Northmarq’s capital markets capabilities, Stollenwerk cites the firm’s collaborative nature as being its true differentiator.

“The extremely collaborative culture at Northmarq across the entire platform is the key attraction, which has been very well-received by my clients thus far,” said Stollenwerk.

Read the full story.

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Jesse Lemos lays a new foundation in Northmarq’s Nashville office

NASHVILLE, TENNESSEE (December 8, 2022) — Northmarq’s Jesse Lemos, senior vice president, expanded his territorial reach, as evidenced in his recent move to Northmarq’s Nashville office. In his new homebase, he will collaborate across the Southeast and Midwest sourcing debt and equity opportunities for multifamily, retail, industrial, and office assets for his clients. Lemos joins Nashville’s investment sales team of Bryan Schellinger, David Stollenwerk, and Brenden Bercaw, who officially opened the Nashville office in June.

Formerly located in the Austin, Texas office, Lemos brings 11-years of experience crafting complex capital structures for clientele developing multifamily assets. Lemos specializes in asset acquisition financing, raising institutional equity, arranging land and construction loans for developers, and he helps source sites alongside the investment sales team. In addition, he places the debt needed for borrowers though our agency platform along with life insurance companies, banks, credit unions, debt funds, and CMBS lenders. Prior to Northmarq, Lemos served as a senior loan producer at Texas Realty Capital in Austin for eight years.

“I’m excited to continue servicing my existing clients as well as support my newly established partnerships in the Nashville area,” said Lemos. “This growing office will allow me to collaborate with the investment sales team to further expand our footprint in this high-performing growth market.”

Lemos enters one of the top growth markets in the country that continues to attract high levels of investment, according to Northmarq’s Nashville Q3 Market Insights. The total population in the Nashville area is forecast to expand by more than 500,000 residents by 2040. This rapid population expansion will fuel long-term renter demand and continue to support an active development pipeline. Read the full report.

“Being a full-service capital markets provider, we were eager to identify a top Debt & Equity producer to work in consortium with our investment sales team when we opened the office in June. So we are thrilled to have Jesse with us in Nashville to help expand our capabilities and coverage across the region,” said Schellinger.

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Nashville Q3 Multifamily Market Insights: Long-term growth prospects favorable, despite recent cooling


Nashville Multifamily market report snapshot for Q3 2022
  • The Nashville multifamily market continued to cool during the third quarter, as asking rents ticked lower, and the vacancy rate rose. Despite mixed conditions in recent months, construction activity remains heightened with more than 6,400 units already delivered to this point in the year.
  • After reaching an all-time low one year ago, the vacancy rate has risen in each of the past four quarters. Local vacancy increased 70 basis points during the third quarter to 5. 2 percent; year over year, the rate has advanced 150 basis points.
  • Asking rents fell slightly in the last three months, dropping 2.5 percent to $1,674 per month. Year over year, average rents are up 6.2 percent.
  • The multifamily investment market performed well during the third quarter, as sales activity gained momentum, and per-unit pricing remains well above last year’s figure. The median sales price to this point in the year is $266,000 per unit, a 50 percent increase from the median price in 2021. Cap rates inched higher, averaging 4.4 percent in the third quarter.

Read the report

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Nashville Q2 Multifamily Market Insights: Rapid economic growth supporting investment market


Nashville Multifamily market report snapshot for Q2 2022
  • The first half of 2022 brought elevated activity to the Nashville multifamily market. Construction volume and investment transaction velocity were both elevated and rents continued to surge higher. Vacancy rates inched up, but absorption still reached approximately 3,200 units.
  • After a sharp decline in 2021, vacancy has trended higher in recent quarters. Year to date, the rate increased by 50 basis points, including a rise of 20 basis points during the second quarter. Despite the recent uptick, the rate of 4.5 percent is still down 20 basis points year over year.
  • Rent growth remained elevated during the first half with the average asking rent rising 7.6 percent to $1,718 per month. Year over year, apartment rents advanced by 13.9 percent.
  • The momentum in the investment market continued to build after a very active 2021. Multifamily transaction volume in the first half of 2022 was ahead of levels recorded during the same period one year ago. Sales prices continued to push higher with the median sales price surging 50 percent since the end of last year, spiking to $264,900 per unit.

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Northmarq’s expansion into Nashville continues with addition of Brenden Bercaw to investment sales team

NASHVILLE, TENNESSEE (July 26, 2022) — Northmarq’s Nashville office recently bolstered its multifamily investment sales experience with Brenden Bercaw joining the team as associate. Bercaw joins Bryan Schellinger, managing director, in the Nashville location, which officially opened in early June. Bercaw’s addition prefaces Northmarq’s plans to hire at least two debt and equity experts, along with support staff by the end of the year. At the company, Bercaw will work with Schellinger to expand the company’s multifamily footprint across the Southeast, while collaborating with existing offices across the region, offering clients Northmarq’s full-service approach of investment sales, debt/equity, and loan servicing.

“We are very excited to bring Brenden onboard. His astute financial acumen, coupled with his diverse capital market and wealth management experience, provides a unique skillset that will be instrumental in our growth and a great asset for our clients,” said Schellinger.

Prior to joining Northmarq, Bercaw was associate officer at AllianceBernstein and a key member of the finance organization with the firm relocating its global headquarters from New York City to Nashville in 2018. Within Private Wealth, he helped support the sales teams in executing diverse asset allocation strategies for the firm’s high-net-worth investors. He has also held the position of Senior Analyst at Deutsche Bank in Jacksonville, Florida managing large global vendor relationships and contracts exceeding $100 million in annual spend.

Bercaw holds a Bachelor of Science degree in Finance with a focus in International Business from Florida State University.

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Northmarq opens Nashville office

MINNEAPOLIS (June 1, 2022) – Northmarq opens a new office today, bringing experienced leader Bryan Schellinger from Los Angeles to lead the growth.  The Nashville team will collaborate with existing Northmarq offices across the Southeast and Midwest to provide the company’s full range of services, including investment sales, debt, equity, and loan servicing.

“This location is a great bridge from our existing teams in Atlanta, Charlotte, St. Louis, and Kansas City, and is an important growth market for us and many of our clients,” said Trevor Koskovich, president – Investment Sales.

Schellinger, a long-time California resident, decided to relocate to open Northmarq’s Nashville office, seeing a huge opportunity to leverage his diverse transactional experience across all multifamily asset classes and land/development opportunities.

“Tennessee offers a tremendous opportunity to help our clients evaluate core and value-add properties in high-growth submarkets across the state as the region continues to be a magnet, attracting educated and talented young workers and highly skilled professionals across remarkably diverse employment sectors – Nashville is the epicenter of that growth,” Schellinger said.  “The transition also allows me the unique opportunity to leverage my land disposition expertise, which was refined over the years in California, so I am excited to enter a market that does not possess the same regulatory environment yet offers similar, if not better, opportunities for business growth.”

Schellinger, who relocated in May, has hired one associate broker, Brenden Bercaw, to open the office with him. Northmarq anticipates hiring at least two debt and equity experts, along with support staff by the end of 2022. The office is located at 414 Union Street, Suite 1900 #34, Nashville, TN 37219.

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