Adds $900 million of loan servicing in new high-growth market
MINNEAPOLIS (April 2, 2019) — NorthMarq, a leader in commercial real estate capital markets, announces the acquisition of Texas Realty Capital, an Austin, Texas-based commercial mortgage banking firm. The firm’s principals, Jim Lemos, John Morran, and Matt Counts, will join NorthMarq along with all of the firm’s five additional employees. The office becomes the company’s fourth location in Texas and adds a servicing portfolio of $900 million, bringing NorthMarq’s servicing portfolio to more than $56 billion.
Texas Realty Capital, founded in 2006 when its principals left GMAC Commercial Mortgage, has placed more than $3 billion in loans on commercial, multifamily, and hotel properties, working as a life company correspondent with nearly 30 capital sources.
“Austin is an excellent growth market with opportunity for us, and we knew that the culture Jim, John, and Matt have developed with borrowers and lenders would be an ideal fit for NorthMarq,” said Jeffrey Weidell, president-NorthMarq. “As with our previous acquisitions, we are careful to find the right team that will benefit from our growing platform and integrate easily with our business.”
“NorthMarq’s commitment to best-in-class service and putting their client’s interests first aligns seamlessly with the business principles we established when founding TRC,” said Lemos.
Morran, who will be the office’s managing director, said, “We’re excited that the NorthMarq platform will help us deliver even better solutions to our clients and support our team as we continue to grow within the rapidly expanding Central Texas market.”
Lemos started his real estate career at Keystone Mortgage Capital in 1984, and Morran joined him in 1992. Prior to Keystone, Morran was a project manager for development and acquisitions with Cencor Realty Services/The Weitzman Group in Austin, Texas. TRC has been a leader in the Austin community through its Funding the Future initiative with more than $600,000 donated to local organizations such as DELL Medical Center, Women & Their Work, The Trail Foundation, Explore Austin, and many others. In business since 1960, NorthMarq offers debt, equity, investment sales, and loan servicing, and has grown to more than 550 employees through more than 20 acquisitions. During the past 12 months, the company also added six investment sales offices, most recently in San Diego: https://www.northmarq.com/northmarq-adds-multifamily-investment-sales-in-san-diego-california/