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Family Promise of Morris County receives 2020 Community Involvement Grant from NorthMarq’s New Jersey office

MINNEAPOLIS, MINNESOTA (December 21, 2020) — NorthMarq’s New Jersey office selected Family Promise of Morris County, as its recipient of a 2020 Community Involvement Grant. The organization is a New Jersey-based, non-sectarian, not-for-profit organization dedicated to mobilizing community resources and people to end the crisis of homelessness faced by Morris County families and individuals by providing a continuum of services leading to self-sufficiency through their Outreach, Shelter and Housing Programs.

Family Promise boasts a 97 percent success rate of individuals & families maintaining housing once obtained. Programs include Emergency Shelter, Housing, and Outreach which includes the Our Promise Drop-In Center located in Morristown and the Navigating Hope Mobile Unit.

Gary Cohen, managing director – NorthMarq’s New Jersey office, nominated the organization based upon his personal involvement with them for several years.

“NorthMarq’s donation will support our efforts to mitigate homelessness and help our community connect with much-needed resources, referrals, and linkages. It is imperative now, more than ever, that we make full use of our outreach capacities in order to rapidly house those who are most at-risk and prevent as many instances of homelessness as possible. We are honored to be awarded the Community Involvement Grant that will help support services to our community during the current health and housing crisis.,” said Chief Executive Officer, Joann Bjornson, LSW.

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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NorthMarq Capital promotes two senior vice presidents to managing director in New Jersey and Las Vegas offices

MINNEAPOLIS (February 15, 2017) – NorthMarq Capital Presidents Jeff Weidell and William Ross announced two promotions in the company’s regional offices. Scott Monroe, senior vice president-Las Vegas, and Gary Cohen, senior vice president-New Jersey, were promoted to the position of managing director.

Both Monroe and Cohen will retain their local production roles but will add more oversight of their respective offices, primarily in achieving hiring, development, and production goals.

Prior to joining NorthMarq Capital, Monroe was a senior vice president at Johnson Capital Production, where he financed debt and equity for commercial projects. Before that he worked at Q10|Bonneville Realty Capital from 1996-2010 and was a top producer, averaging over $155 million in production per year. From 1996-2007 he funded over $1.5 billion. He worked at John Burnham Company from 1983-1996 as a top producing mortgage banker. At John Burnham Company, he was recognized as investment officer of the year in 19984, 1985, 1987, 1990, 1992 and 1994.

“We are very pleased that Scott is now managing director of our Las Vegas office. Scott has been with the company since mid-2013 and has been in our Million Dollar club consistently,” said Jeff Weidell, president. “He is in the process of building his office, which includes a new associate producer, vice president and an experienced analyst.”

Monroe is an active member of the Urban Land Institute (ULI), Southern Nevada NAIOP and the International Council of Shopping Centers. He received a Bachelor of Science degree from California State University in San Diego, where he majored in accounting and was named to the Dean’s list. Monroe was a Lieutenant in the Marines from 1974-1977.

Prior to joining NorthMarq Capital in 2011, Cohen ran the New Jersey office of Centerline Capital Group which focused primarily on FHLMC and FNMA debt originations. Cohen is a graduate of the University of Maryland and has been active in various charities and coaching youth sports.

“I am pleased to announce Gary Cohen’s promotion to managing director of our New Jersey office,” said William Ross, president. “Gary joined NorthMarq Capital in 2011 and is a 20+ year veteran of commercial mortgage banking. We look forward to Gary leveraging his extensive experience and know-how to the benefit of the New Jersey team.”

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 nationwide. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, and has maintained a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit northmarqcap.wpengine.com.

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Gary Cohen delivers Freddie Mac update in NorthMarq’s Market News

Click image to download PDF

Click image to download PDF

Conditions in Northeast Favorable for Strong Freddie Mac Deal Flow

Freddie Mac continues to view the Northeast as positive. While there is a lot of construction in the metros, absorption is strong. The majority of the Northeast metros are expected to perform in-line with or better than the national average. Effective rent grew by 4.7 percent in 2015, the strongest since 2007, and vacancy rates increased slightly to 3.8 percent, only 20 basis points over the past year, according to REIS. Job growth has not been as strong as other areas in the country, but has seen steady growth the past several years of around 1.4 percent.

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