Continuing its expansion of the multifamily investment sales platform, NorthMarq has hired former high-ranking JLL broker David Martin. He started this month in Denver as a managing director, responsible for building an investment-sales team. He will collaborate with David Link, managing director of debt and equity, to arrange financing for trades.
The Denver office includes eight other capital-markets professionals. Martin spent 15 years at JLL, and in January 2019 was elevated to co-head of the firm’s roughly 15 apartment-brokerage offices. A managing director, he oversaw the West Region, with duties including managing relationships with institutional investors that own large national portfolios. His co-head was Christine Espenshade in Washington, who was responsible for the East Region. Both are among the staffers who have departed JLL since its midyear 2019 acquisition of HFF.
Martin is NorthMarq’s 10th hire this year for the investment-sales platform it’s building alongside its commercial real estate financing business. The firm now employs 50 brokers and transaction staffers in 11 offices, stretching across the U.S. from Florida to Southern California. By year-end 2019, its transaction volume had reached $2 billion.
Jeffrey Weidell, NorthMarq’s chief executive officer, said the company plans to expand the investment-sales operation to 20 offices in the next couple of years.
“We want to cover the nation,” Weidell said. “We have gone coast-to-coast across the southern states and we are now migrating north with Denver, and that is still our plan. Whether it slows in 2020, I don’t think anyone really knows for sure, but it’s our goal to continue and add offices when we find the right people.”
Reprinted with permission from Real Estate Alert.