MINNEAPOLIS, MINNESOTA (July 1, 2021) — NorthMarq continues its growth in multifamily investment sales, adding a new Affordable Housing group in Southern California. John L. Nguyen joins the company as managing director – Affordable Housing, bringing over 20 years of experience in this important sector to NorthMarq’s growing national platform.
With more than $1 billion in closed transactions, Nguyen is considered a leader in the Affordable Housing industry, working on sales for Section 8, state-agency financed, and value-add subsidized properties across the country. He will be joined by Jesse Elsanhuty, senior vice president, who has worked in affordable housing sales for more than ten years. Nguyen and Elsanhuty, who came to NorthMarq from Colliers, will collaborate with NorthMarq’s affordable housing financing experts across the country to identify the best financing structure for clients.
“Given the highly complex nature of these affordable transactions, the specialization from both John and Jesse will help NorthMarq expand our overall offering,” said Trevor Koskovich, president – Investment Sales. “In addition, NorthMarq’s debt and equity experts can bring additional value to their clients who are buying or refinancing.”
Working across the country to preserve affordable housing, the team has a long history of successfully navigating through the maze of encumbrances, regulatory restrictions, and tenant income covenants to complete transactions in a timely and effective way, bringing substantial value for clients. They also have deep relationships with a network of attorneys, underwriter analysts, and other industry experts to ensure the best acquisition/disposition strategy for each sale.
“We are attracted to NorthMarq’s strong platform of lenders, especially the Fannie, Freddie, and FHA/HUD options, because those lenders bring a vast supply of new options for the capital structures for our clients,” said Nguyen. “NorthMarq is big enough to have many sources of debt and equity across the country, but boutique enough to make sure my clients feel valued.”
Before joining Colliers, Nguyen spent 15 years with Marcus & Millichap specializing in affordable and market-rate properties. He is a graduate of California State –Fullerton with a degree in Real Estate Finance.
Elsanhuty worked for Colliers for five years following graduation from California State – Long Beach. He is a member of the Institute for Responsible Housing Preservation (IRHP), as well as the National Leased Housing Association (NLHA), National Housing and Rehabilitation Association (NH&RA), and National Multi-Housing Council (NMHC).
The team will be based in NorthMarq’s Newport Beach office.