News Release 4/ 7/ 2020

NorthMarq expands multifamily investment sales team in Central and South Florida

MINNEAPOLIS, MINNESOTA (April 7, 2020) — NorthMarq announces the expansion of its investment sales capabilities in Florida with the addition of Errol Blumer, an experienced multifamily, land and joint-venture equity adviser, and Justin Hofford, a commercial real estate veteran with experience in multifamily dispositions and CRE valuation. Both brokers join Luis Elorza, managing director – Investment Sales to provide acquisition, disposition, and advisory services to owners of multifamily investment properties across Central and South Florida and across the southeast U.S.

NorthMarq has grown its investment sales capabilities into ten existing debt and equity offices in the last 18 months, with the Central/South Florida team the most recent addition. Elorza, Blumer, and Hofford will advise clients in collaboration with the company’s debt and equity professionals in Jacksonville, Miami, Orlando, and Tampa, and partner with Jason Nettles, managing director – Investment Sales, and Megan Thompson, senior vice president – investment sales, who joined the company’s Atlanta office; together, both teams offer expertise for the southeast U.S.

“We’ve seen great success when we partner the right investment sales people with our existing debt and equity colleagues. This team combined with our other Investment Sales colleages have created a powerful platform to serve clients across the country,” said Trevor Koskovich, president-Investment Sales.

In his new role as senior vice president – Investment Sales, Blumer will be responsible for managing the disposition of multihousing properties and land for development throughout South Florida, while also arranging and sourcing Joint Venture Equity and Capital for acquisition and development projects. Throughout his more than 10-year career, he has been involved in the transaction of almost $2 billion of multifamily and commercial assets —including land for development and other capital markets activities such as joint-venture equity raises and debt financing.

Prior to joining NorthMarq, Blumer spent almost three years as a member of the South Florida Institutional Multifamily Capital Markets team with Cushman & Wakefield, and has also served at Avison Young and ARA Newmark (formerly ARA), where he contributed and assisted in capital markets activities related to multihousing and commercial asset dispositions. He has also worked on the acquisitons’ teams at privately-held SunCap Opportunity fund and GreenSprings Properties.

Hofford, senior investment sales associate, will focus on multifamily dispositions and acquisitions in Tampa and Southwest Florida. With a twenty-year career in the commercial real estate industry, he was most recently engaged in multifamily dispositions, valuation and market analysis at JBM Multifamily Institutional Advisors. Previously, he was with Cushman & Wakefield’s Valuation and Advisory group, where he consistently ranked as a top producer in Florida.