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.