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Our Newport Beach office provides a complete range of options for all types of commercial real estate financing. We can arrange commercial mortgages for any type of commercial property through our unmatched network of lending partners. In addition, we offer investment sales for multifamily and manufactured housing properties. Call our local office to learn more.

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Inland Empire Q4 Multifamily Market Report: Large Transactions Return in Final Quarter of 2020

Highlights:

Inland Empire Multifamily market report snapshot for Q4 2020
  • The Inland Empire was impacted by the pandemic considerably less than the rest of California, and the local multifamily market outperformed in 2020. While the market recorded significant layoffs, major logistics companies like Amazon continue to expand, providing some support to the employment market.
  • Vacancy rose 40 basis points in 2020, reaching 3.7 percent, but all of the increase occurred in the first half of the year. During the second half, the rate dipped 10 basis points.
  • Apartment rents in the Inland Empire increased 2.6 percent during 2020, reaching $1,467 per month. Rents contracted in nearly all California markets during the year, but the Inland Empire’s healthy absorption totals supported steady rent increases.
  • The multifamily investment market gained momentum in the fourth quarter. The median price rose 9 percent in 2020 to $240,000 per unit, while cap rates averaged 4.8 percent. Late in the year, activity picked up in larger transactions; during the final few months of the year, nearly 65 percent of deals traded for more than $50 million.

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Mike Elmore, Nate Prouty selected as one of Real Estate Forum’s 2020 Rainmakers

In its annual Rainmakers recognition, Real Estate Forum has selected Mike Elmore and Nate Prouty as part of the 2020 class. Elmore was previously selected for the recognition in 2017; this is the first time Prouty has been selected. Real Estate Forum selects the winners based upon their transaction track-record, community involvement, and industry leadership. See the full story.

Given the challenges in 2020, the publication noted that the winners had key traits in common: “As we went through the nominations we were more struck than ever with the grit, expertise, and dedication of the people in this particular slice of the CRE industry. Despite the paralysis, deals did get done, complex structures were put in place and innovation ran amok.”

Mike Elmore’s recognition focused on both his transaction volume over many years and his mentoring and leadership in his office:

With more than 30 years of experience, Michael Elmore has demonstrated acute financial skills to guide and oversee complex financial transactions. As an EVP and managing director at NorthMarq, Elmore structures debt and equity transactions. During his 27-year tenure with the firm, he has closed 600 transactions totaling nearly $13 billion, and he has regularly been named as a top producer. Advanced Real Estate Services is one of Elmore’s longest standing clients. The firm has a 10,000-unit multifamily portfolio, and Elmore has worked with them to secure $2.3 billion in financing transactions, leading to loan servicing of $1.2 billion for the firm. When he isn’t working with clients, Elmore is mentoring new talent, both students and new entrants into the firm. Brendan Golding is a prime example of Elmore’s mentoring. Golding joined the firm two years ago and worked closely with Elmore to develop his book of business, resulting in $40 million in loan volume.

Nate Prouty was recognized for his book of business with institutional investors and his significant transaction volume over the last few years:

In 2016, Nathan Prouty became the youngest managing director at NorthMarq. Based in the San Francisco office, Prouty completes debt and joint venture equity production and works with the firm’s life company correspondent lenders to finance core stabilized assets. He has a notable roster of institutional investors and structured finance lenders on hand for opportunistic transactions, as well as relationships with traditional financing sources, including Freddie Mac, Fannie Mae, institutional equity investors, debt funds, and banks. In 2019, Prouty’s office completed $1.42 billion in financing transactions. Personally, his average annual transaction volume is $700 million. In the last five years, he has closed $3.5 billion in debt and equity deals, and he is consistently ranked in the top five producers at the firm. Prouty has closed several notable multifamily deals, including a $336 million Fannie Mae loan on the 1,000 unit Mansion Grove Apartments and a $75 million cash-out refinance on Mediterranean Village, a garden-style apartment building.

See the full story on GlobeSt.com.
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Mercy House receives 2020 Community Involvement Grant from NorthMarq’s Newport Beach office

MINNEAPOLIS, MINNESOTA (January 11, 2021) — NorthMarq’s Newport Beach office selected Mercy House, which provides housing and comprehensive supportive services for a variety of homeless populations in the Southern California area, as its recipient of a 2020 Community Involvement Grant.

The non-profit Mercy House opened its latest homeless shelter in Huntington Beach, California in Nov. 2020. The 174-bed homeless shelter is the ninth homeless shelter operated by Mercy House, which also operates 16 permanent housing communities in the Southern California area. In addition to physical space, Mercy House offers each client a Housing Navigator upon entry, who works with them to identify needs and barriers upon entering permanent housing. Their clients also receive meals, showers, access to life skills, and additional support all with the focus of permanent housing.

Mike Elmore, managing director – debt & equity of the Newport Beach office, recommended the organization due to his long-time commitment to the Huntington Beach area, where he has been a resident for nearly 50 years and has witnessed the increase and permanency of homelessness in the city.

Mike Elmore (Left) presented NorthMarq’s 2020 Community Involvement Grant to Mercy House Development Director Jacob Mize (Right).

“I’m proud to support this innovative organization that is working hard to tackle such a big problem in southern California. Their efforts to provide a unique system of dignified housing opportunities, programs, and supportive services are definitely making progress in ending homelessness,” said Elmore. His wife, Tina, plans to become a regular volunteer at the Huntington Beach location in 2021.

“Thank you to NorthMarq’s generous donation to Mercy House. We are grateful that you have chosen to join us in supporting the vulnerable men, women, and children who are homeless or at risk of homelessness. We appreciate the donation and will ensure that we are good stewards of this donation, always upholding the dignity of the clients we serve,” said Jacob Mize, Development Director – Mercy House.

In the third year of NorthMarq’s Community Involvement Grant program, the company has awarded grants to 18 non-profits in 16 cities. The program solicits nominations from each local office, and had an increase of 20 percent from 2019, with a total of 18 non-profits focused on affordable housing and reducing homelessness receiving these grants in 2020. NorthMarq’s 2020 grant to New Hope Housing represents its third award under the Community Involvement Grant program.

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SoCal Multifamily Investor Demand and Deal Flow Increasing for 2021

LOS ANGELES, CALIFORNIA (DECEMBER 11, 2020) — 2020 has been the most unique year that I have seen in my 20 years of experience in this business. At the start of 2020, the multifamily market was coming off a very strong 2019 that navigated changes such as the monumental rent control bill known as AB 1482. Investors were poised for another great year until the pandemic began, which inserted widespread uncertainty into the market. Questions began to arise about whether multifamily would be able to sustain its success or if COVID-19 would be as detrimental to the market as it had been to retail and office properties.

As the pandemic erupted and shutdowns were ordered, investor sentiment became wary over a potential shift toward unfavorable market fundamentals. However, for most SoCal owners of multifamily, it proved to weather the storm during this pandemic and more confidence was instilled in the apartment market as one of the top asset classes.

Read more about surprising stability in the market and a recently sold and financed multifamily property in Anaheim.

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NorthMarq welcomes 10-year commercial real estate expert Alex Kane

Kane will work in two Southern California offices – Los Angeles and Newport Beach

LOS ANGELES, CALIFORNIA (December 9, 2020) — Alex Kane has joined NorthMarq as vice president in its Los Angeles office. In his role, he will be responsible for the origination of debt/equity across all major asset classes working from both the Los Angeles and Newport Beach offices. He has more than 10 years of commercial real estate finance experience, successfully closing in excess of $2 billion in commercial real estate transactions.

“Alex is a seasoned producer with a strong client base and will be a part of both the Los Angeles and Newport Beach offices’ growth plans,” said Michael Elmore, executive vice president/managing director of NorthMarq’s Newport Beach office.

Prior to joining NorthMarq, Kane was a director in the Capital Markets Finance Group for JLL’s Los Angeles office. Before this, he was a senior associate in the Los Angeles office of CBRE, part of their Debt and Structured Finance Group. Kane also previously held positions at Jupiter Holdings LLC and Lyon Living, both headquartered in Newport Beach.

“I’m excited to join NorthMarq and help contribute to the ongoing success and growth of the Los Angeles and Newport Beach offices. More importantly, I look forward to continuing to provide my clients with premium service by leveraging NorthMarq’s industry-leading platform,” said Kane.

Kane received his B.A. from the University of Colorado at Boulder. He is a member of the NAIOP, Urban Land Institute and Mortgage Bankers Association.

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Orange County Q3 Multifamily Market Report: Orange County Maintains Tight Vacancy Levels

Highlights:

Orange County Multifamily market report snapshot for Q3 2020
  • The Orange County multifamily market showed signs of weakening in the third quarter for the first time since the pandemic struck. Asking rents recorded a notable pullback, while the vacancy rate held steady.
  • In each of the first three quarters this year, the local vacancy rate has been 3.6 percent. Year over year, vacancy has tightened 30 basis points.
  • Current asking rents are $1,958 per month, down 2 percent from the second quarter. The quarterly retreat shifted year-over-year measurements into negative territory; asking rents in Orange County have declined by 1.2 percent in the past 12 months.
  • Sales velocity in Orange County is typically modest, and COVID-19 has further stalled activity in the investment market. In the few deals that have closed, prices and cap rates have remained relatively steady compared with last year’s numbers.

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Inland Empire Q3 Multifamily Market Report: Operational Strength Spurring Investor Interest

Highlights:

Inland Empire Multifamily market report snapshot for Q3 2020
  • The Inland Empire multifamily market outperformed its California peers in the third quarter. Local rents held steady, while vacancy inched lower.
  • After rising 50 basis points from the final quarter of 2019 to the second quarter this year, multifamily vacancy got back on track. In the third quarter, the vacancy rate dipped 10 basis points to 3.7 percent.
  • Apartment rents ended the third quarter at $1,459 per month, 3.4 percent higher than one year earlier.
  • The multifamily investment market picked up steam in the third quarter. Prices also increased, bringing the year-to-date median to approximately $234,900 per unit.

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Inland Empire Q2 Market Report: Activity Forecast to Gain Momentum in the Second Half

Highlights:

Inland Empire Multifamily market report snapshot for Q2 2020
  • The Inland Empire multifamily market posted healthy levels of absorption and rent growth in the first half of 2020, although an active period of deliveries drove the local vacancy rate higher.
  • Multifamily vacancy rose 20 basis points in the second quarter, reaching 3.8 percent. Year over year, the rate is up 50 basis points.
  • While vacancy has crept higher, the Inland Empire has still recorded some of the healthiest rent growth in the country. Asking rents ended the second quarter at $1,454 per month, 4.4 percent higher than one year earlier.
  • The investment market cooled in the first half, repeating a trend that has occurred in recent years. The median price is up 5 percent from the 2019 figure, reaching approximately $230,200 per unit.

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Navigating challenging conditions, NorthMarq secures over $600 million in financing in the first half of 2020 in LA-area markets

LOS ANGELES, CALIFORNIA (July 22, 2020) – During challenging market conditions due to Covid-19, NorthMarq’s Los Angeles and Newport Beach offices continued to provide real estate financing solutions for their clients by leveraging the company’s national network of buyers, sellers, equity partners, and lending sources. Year-to-date, the Los Angeles and Newport Beach office have secured more than $600 million in financing; lending sources include Fannie Mae, Freddie Mac, correspondent life company lenders, pension funds, banks, CMBS lenders, debt funds, credit unions, and other investment companies.

Joe Giordani, senior vice president/managing director of NorthMarq’s Los Angeles/Newport Beach office noted the diversity of transactions completed by their team.

“During the Covid pandemic, we’ve relied heavily on our national platform of capital sources to secure financing for both private and institutional property owners. A few examples include agency debt on apartments, bridge loans on office and retail properties, and life company lenders financing moderately leveraged stabilized properties,” Giordani said.

“The capital markets are more cumbersome to navigate given the current uncertainty due to the pandemic. NorthMarq’s decades of trusted relationships have been important to our success this year. They’ve been the key to uncovering the right capital partner and closing loans for our clients.” said Scott Botsford, vice president, debt & equity.

A few examples of recent transactions:

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Orange County Q4 Multifamily Market Report: Orange County Closes 2019 on an Upswing

Highlights:

Orange County Q4 2019 market snapshot
  • The fourth quarter was a strong period for the Orange County apartment market, with vacancy tightening and rents rising. Construction has been active as developers bring new units to the market to meet renter demand.
  • Multifamily vacancy in Orange County ended 2019 at 3.7 percent. The rate dropped 20 basis points in the fourth quarter and fell 30 basis points from one year earlier.
  • Asking rents rose 2.9 percent in 2019, ending the year at $2,000 per month. The strongest gains of the year were recorded during the fourth quarter.
  • In 2019, the median price reached $317,500 per unit, while cap rates averaged approximately 4 percent. Prices rose and cap rates compressed during the fourth quarter.

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David Blum and Joe Giordani promoted to managing director of NorthMarq’s Newport Beach office

NEWPORT BEACH, CALIFORNIA (January 29, 2020) – The Newport Beach office of NorthMarq announces the promotion of David Blum and Joe Giordani to the role of managing director. Both producers represent the culmination of NorthMarq’s commitment to training and long-term investment in developing its leadership talent.

“With my long-time co-managing director Ory Schwartz opening a Los Angeles office, a great opportunity has been created for David and Joe to accept expanded leadership roles and to increase awareness of our brand in the market,” said Michael Elmore, managing director of the Newport Beach office.

Blum’s promotion to managing director comes after 18 years with NorthMarq, during which he moved from analyst, to vice president, to senior vice president/managing director, while closing more than $2 billion in debt and structured finance transactions nationwide. He will continue to focus on delivering financing solutions to clients, while taking on more leadership responsibilities of the Newport Beach office.

“David is a long-term employee who started with us in 2002 and has consistently generated strong loan volumes, helped in recruiting new employees in both the analyst and new producer roles, and has been active in networking events promoting us outside of the company,” said Elmore.

Prior to joining NorthMarq, he worked as an environmental engineer/consultant for real estate transactions. Blum is a licensed Real Estate Professional in the state of California. Blum has served multiple terms on the NorthMarq Producer Council and is on the Board of Building Block Foundation Fund, an organization that serves under-privileged kids in the greater Orange County area.

He holds two B.S. degrees from UC Santa Barbara and an MBA from USC in Finance and Operations.

Giordani will join David and Mike to manage NorthMarq’s Newport Beach office. Along with his additional new leadership duties, he will continue to help clients fulfill their commercial and multifamily capital needs by offering debt and equity solutions through NorthMarq’s preferred life insurance correspondents, Fannie Mae, Freddie Mac, HUD, Wall Street conduits, pension funds, debt funds, banks, credit unions and other prominent capital sources.

“Joe has been with us since 2014, and his production volume has been consistently increasing each year. He has been instrumental in recruiting and training our new producers. He participates in various industry organizations and recently joined the young leaders group for the Mortgage Bankers Association, which indicates his industry leadership,” said Elmore.

Giordani joined the Los Angeles office of NorthMarq in 2014 and was selected as the “Rookie of the Year” for NorthMarq in 2015. He was promoted to senior vice president in 2018 and selected to a three-year term as a member of the company’s Producer’s Council in 2019.

Giordani is a graduate of the NAIOP Young Professionals Group and an active member of NAIOP Southern California. He is a licensed Real Estate Broker in the State of California and holds a Bachelor degree in Economics from the University of Colorado at Boulder with a minor in Business.

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Inland Empire Q3 Market Report: Activity Ticks Higher as Year-End Approaches

Highlights

Inland Empire Q3 2019 market snapshot
  • Apartment fundamentals did not change significantly in the Inland Empire during the third quarter. The vacancy rate inched higher and rents ticked up, but the market has been quite consistent throughout 2019. Deliveries should pick up in the fourth quarter, providing some modest supply-side pressure.
  • Multifamily vacancy ended the third quarter at 3.4 percent; the rate is up 20 basis points year over year.
  • Asking rents rose 0.9 percent in the third quarter, reaching $1,405 per month. During the past 12 months, asking rents have advanced 3.7 percent.
  • Investment activity in apartment properties accelerated during the third quarter, and the sales continued into the fourth quarter. The median price in sales thus far in 2019 is approximately $229,000 per unit, and cap rates have averaged 4.9 percent.

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Orange County Q3 Market Report: Vacancy Tightens as Construction Slows

Highlights

Orange County Market Snapshot for Q3 2019
  • The Orange County multifamily market strengthened in the third quarter, with rents rising and vacancy dipping below 4 percent for the first time in more than a year.
  • Vacancy fell 30 basis points from the second quarter to the third quarter, dipping to 3.9 percent. The rate is 10 basis points lower than one year ago.
  • Rent growth has been averaging slightly less than 1 percent per quarter in recent periods, a trend that continued during the third quarter. Year over year, asking rents have increased 2.8 percent, reaching $1,981 per month.
  • Sales activity was consistent from the second quarter to the third quarter, with the bulk of the activity occurring in sales of properties having fewer than 100 units. The median price thus far in 2019 is $307,000 per unit, with cap rates holding steady at approximately 4.2 percent.

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Daniel McCarthy celebrates 20 years with the company

Daniel McCarthy in our Los Angeles office celebrates 20 years with the company this week. Thanks for being part of the team, Daniel!

Congratulations Daniel McCarthy on celebrating 20 years with NorthMarq
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Los Angeles Q2 Multifamily Market Report: Vacancy Low, Rents Rising as Development Gains Momentum

Highlights:

Los Angeles Q2 2019 market snapshot
  • Multifamily properties performed well in Greater Los Angeles during the second quarter. The market benefited from a healthy pace of job growth and a dip in the delivery of new units.
  • Vacancy in Los Angeles County held steady at 3.6 percent during the second quarter; the rate is up just 10 basis points year over year.
  • Local asking rents closed the first half of the year at $2,043 per month, up 5 percent from one year earlier. Some of the strongest growth is being recorded in Downtown Los Angeles.
  • The investment market strengthened in the second quarter with transaction activity ticking up, prices rising, and cap rates compressing. Cap rates have averaged 4.4 percent thus far in 2019, but rates dipped to 4.25 percent during the second quarter.

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Orange County Q2 Market Report: Job Growth Strengthens, but Vacancy Ticks Higher

Highlights:

Orange County Q2 2019 market snapshot
  • The Orange County apartment market posted mixed performance during the second quarter. Vacancy rose and rent growth leveled off even as the employment market recorded healthy gains.
  • Vacancy rose 20 basis points in the second quarter to 4.2 percent, up 30 basis points from one year ago.
  • Rents continued to advance, although the pace of increases was more modest than in recent years. Asking rents in Orange County ended the second quarter at $1,968 per month, 2.5 percent higher than one year ago.
  • Sales activity during the second quarter was a bit lower than levels from the first three months of the year. Prices rose as larger property sales accounted for a more significant share of total activity. Cap rates have averaged 4.5 percent thus far in 2019, up from 2018 levels.

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Inland Empire Q2 Market Report: Prices Push Higher as Transaction Activity Surges

Highlights:

Inland Empire Q2 2019 Market Snapshot
  • The Inland Empire apartment market posted steady performance in the second quarter. Construction was modest, vacancy was flat and rents rose. Looking ahead to the second half of the year, construction is forecast to pick up, which is expected to push the vacancy rate higher.
  • Multifamily vacancy held steady at 3.3 percent during the second quarter. The rate is 10 basis points higher than one year ago.
  • Rents continue to trend higher at a steady pace. Asking rents rose 4 percent year over year, ending the second quarter at $1,393 per month.
  • Sales of multifamily properties gained momentum in the second quarter. The median price has risen to $228,900 per unit, and cap rates have compressed below 5 percent.

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SoCal Apartment Fundamentals Create Opportunities

Shane Shafer featured in Connect California

Southern California continues to be a market that is highly sought after. The first half of the year saw fewer sales than in recent years. This has created an even larger increase in demand from buyer and capital to buy, as investors see Southern California as a market with great fundamentals that continues to improve each quarter. We have seen that those that have a presence in So Cal want to expand their portfolios, others that do not have a presence are aggressively bidding on properties to build scale and have a presence in one of the most sought-after markets in the county.

Investors are attracted to the stability, quality assets and consistent returns they find throughout Southern California. People believe that the region is poised to withstand a correction that could possibly occur down the road better than some other areas of the country, and they also like the renter demand drivers. Job growth remains strong through the region, and people who are attracted to the Southern California quality of life continue to support a robust renter market.

Recent NorthMarq research shows consistently high occupancy levels and rising rents, both of which support continued growth in net operating incomes. Vacancy rates are hovering at 4% in Orange County; 3.6% in Greater Los Angeles and 3.3% in the Inland Empire. Los Angeles, in particular, saw annual rent growth surge to 6.1% in the first half of the year.

Investors looking to buy in Southern California understand that assets come with a pricing premium, due to the highly competitive nature of the market. Cap rates are averaging 4% in Orange County, 4.5% in Los Angeles and the low 5% in the Inland Empire. The low cap rates are a testament to just how well the market is performing, and the further drop in interest rates is likely to put even more downward pressure on cap rates.

The current climate that includes low interest rates, strong fundamentals and a competitive buyer pool are all signs that suggest the second half of the year is shaping up to be a very active investment marketplace.

There continue to be good opportunities for both buyers and sellers. Sellers are enjoying the competitive bid environment. Every assignment that NorthMarq is working on these days is generating multiple bidders.

Buyers like the continued strength they see in fundamentals, which is supporting greater confidence that the market is not at the peak for rents, and there is still opportunity ahead to increase rents and net operating income.

This story appeared on July 25, 2019 in the Orange County section of Connect California. Click here

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Orange County Q1 Multifamily Market Report: Steady Apartment Performance Prevails in Orange County

Q1 2019 Market Indicators for Orange County, California multifamily market

Highlights:

  • The Orange County multifamily market was very steady during the first quarter of 2019. Vacancy was unchanged from the preceding quarter and rents rose. The pace of deliveries slowed, but there are several projects that are slated to be delivered in the coming quarters.
  • Vacancy held steady at 4 percent, matching the rate from both the third and fourth quarters of 2018. The current rate is 30 basis points higher than one year ago.
  • Rent growth in Orange County continues to rise at a consistent pace. Asking rents have advanced 3.4 percent year over year, ending the first quarter at $1,961 per month.
  • Sales activity in the first quarter lagged levels from preceding periods. The median price in the first quarter was approximately $235,800 per unit, while cap rates averaged 4.4 percent.

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Greater Los Angeles Q1 Multifamily Market Report: Steady Renter Demand Fuels Tightening Vacancy and Rising Rents

Q1 2019 multifamily market report for Greater Los Angeles

Highlights:

  • The Greater Los Angeles apartment market benefited from steady renter demand and a slowdown in supply growth during the first quarter. Deliveries slowed, but the development pipeline is quite full, and developers are likely to bring thousands of new units to the market by the end of this year.
  • The vacancy rate in Los Angeles County has remained in a very tight range for the past several years and stability is likely to persist in the coming quarters. The rate fell 10 basis points in the first quarter reaching 3.6 percent. Year over year, vacancy is up 10 basis points.
  • The local multifamily market continues to record rent increases. Asking rents rose 6.1 percent in the 12-month period ending in the first quarter, reaching $2,029 per month.
  • Investment activity slowed to start 2019, following a strong 2018. A drop in the number of Class A property sales was the primary driver of the sales dip. The median price in the first quarter was $225,000 per unit, while cap rates averaged 4.5 percent.

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Inland Empire Q1 Multifamily Market Report: With Fundamentals Strong, Investment Activity Likely to Gain Momentum

Highlights:

Q1 market indicators for Inland Empire multifamily market
  • After a strong close to 2018, the multifamily market in the Inland Empire got off to a slower start during the first quarter of this year. Some of this is attributable to a more modest rate of employment expansion; the pace of job growth is expected to gain momentum going forward.
  • Apartment vacancy ticked up 20 basis points during the first quarter, reaching 3.3 percent. The rate is up just 10 basis points from one year ago.
  • Asking rents ticked up during the first quarter, rising to $1,370 per month; rents are up 3.8 percent year over year.
  • Sales activity to start 2019 was slower than in recent periods and was concentrated in apartment complexes with fewer than 100 units. The median price dipped a modest 3 percent during the first quarter, while cap rates ticked up 20 basis points to the low 5 percent range.

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NorthMarq’s Los Angeles office announces addition of new vice president Scott Botsford

LOS ANGELES, CALIFORNIA (May 2, 2019) – NorthMarq’s Los Angeles office welcomed Scott Botsford to its production team. In his new role as vice president, Botsford will specialize in commercial and multifamily real estate finance and capital advisory services. He has the ability to service his client’s various financing strategies, through NorthMarq’s preferred life insurance correspondents, Wall Street conduits, Fannie Mae, Freddie Mac, HUD, debt funds, banks, credit unions and other prominent lenders.

“We are excited to have Scott as part of the team, he has a proven track record and fully understands real estate finance. Whether meeting the demands of our Orange County clientele or assisting with regional and national-wide financing, he will be a great addition to our office,” said Michael Elmore, executive vice president/managing director.

Botsford has been active in the commercial real estate capital markets industry for more than 10 years. Prior to joining NorthMarq, he worked for a regional mortgage banking company, specializing in structured finance. Before his mortgage banking experience, Botsford served as the Director of Acquisitions & Finance for an institutional real estate investment company.

“Scott’s prior experience makes him a perfect fit for our company and office. With the extensive platform that NorthMarq offers, we are looking forward to Scott growing his business and providing his existing clients and future clients with the full array of financing options,” said Ory Schwartz, senior vice president/managing director of NorthMarq’s Los Angeles office.

He is a licensed Real Estate Broker in the State of California and holds a Bachelor degree in Public Policy, Management and Planning from the University of Southern California.

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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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