In 2015, NorthMarq completed its purchase of the
remaining interest in AmeriSphere Multifamily Finance,
a Fannie Mae DUS and FHA MAP lender, from its founding partner Rodrigo Lopez and the investment firm
McCarthy Capital. Prior to that, NorthMarq typically did
about $750 million a year in Fannie Mae transactions,
Donaldson says. After it closed on the acquisition of the
remaining 60% stake in what is now a wholly owned subsidiary called NorthMarq Capital Finance, NorthMarq
grew its Fannie Mae business to reach $1.9 billion in
2018. “Through that, we have continued to maintain a
great portfolio,” Donaldson says.
“Fannie Mae has been incredibly supportive and
extremely pleased to see the growth that we’ve been able
to achieve,” he adds.
As for the bridge loan deal DuMars cites, he was able
to leverage his
25-plus-year relationship with the
counted for much,
as the transaction
was very time-sensi-tive and it was
essential that nothing would get lost
One person who
can attest to the
value of a strong
tionship is Michael
Beidelman, head of originations at Nationwide on the
commercial mortgage loan side. The company main-
tains many ties with intermediaries such as CBRE and
HFF to name just two. NorthMarq, as well, is counted
among this group. “The senior officers NorthMarq has
around the country do a very good job of showing us
deals,” he says, adding that his firm’s relationship with
NorthMarq goes back 20 years. “This is very much a
The relationships flow both ways in this clubby cor-
ner of the economy. John Miller, director of origina-
tions for Värde
Partners, for exam-
ple, used to work at
NorthMarq. “It was a
when I joined Värde
that I knew I could
tap into,” he says.
history between the
two firms speaks to
that: in the past two
years Värde has done
12 deals with
NorthMarq. In one case last year, he received a call from
a NorthMarq producer who had a client that was work-
ing with one of Värde’s competitors on an acquisition. At
the last minute, the lender informed them that it was
unable to close the deal. The producer asked Miller if
the firm could get comfortable with the deal in five busi-
ness days. In part because of Miller’s faith in NorthMarq,
Värde issued a credit-approved term sheet within 12
hours of the phone call. The deal closed on time and
eventually led to a larger transaction for that client.
“In this industry, it all comes down to trust,” Miller says.
“NorthMarq’s clients are the sponsors behind the deal
and their job is to develop trust with those users of capital.
My job is to gain the trust of the people at NorthMarq.”
At the end of the day, certainty of execution is what
is paramount in the mortgage origination, he adds.
ALL THE HAPPY EMPLOYEES
At this point in NorthMarq’s story, it is fair to stop and
wonder why it is that its employees are so dedicated and
why its clients and lenders speak so highly of the company. NorthMarq’s senior executives’ decision to hop
on a flight to Phoenix to meet with Koskovich when he
couldn’t fly to Minneapolis is one illustration why. “Our
fundamental culture is to treat our employees well,
Padilla explains. “In return, we expect ethical behavior
and stellar customer service. But it all starts with our
employees feeling like they’re in the right place.”
NorthMarq increased its Fannie Mae
business to $1.9 billion in 2018.
We’ve maintained a great portfolio,
and Fannie Mae has been incredibly
supportive and pleased to see the
growth we’ve achieved.
President, Fannie Mae DUS & FHA Platform
We felt that our business—the sale
of multifamily assets—was headed to
a more vertically integrated platform.
It was imperative to strategically align
with a national brand that could deliver
a high level of service to our clients.
President, Multifamily Investment Sales