NorthMarq Capital is making its first foray into the investment sales business.
Minnesota-based NorthMarq, long a debt broker and servicer for commercial real estate, hired the Phoenix-based apartment sales team headed by Trevor Koskovich at Colliers International last week. The six-person brokerage team making the move includes two sales pros based in Albuquerque, NM, and together the two offices will cover the Southwest region. Koskovich’s team, formerly known as HSK, specializes in apartment sales assignments of properties with 100 units or more, worth between $10 million and $50 million.
For NorthMarq, the hires are the beginning of a new service line.
Jeff Weidell, president of NorthMarq, said the entry into investment sales was a natural progression.
“Multifamily was already half of our business,” he said. “And we’ve been very active with Fannie and Freddie. We’ve been eyeing it (investment sales) for a while, but hadn’t been able to find the right fit until now.”
Weidell says the firm doesn’t have a concrete timetable for how quickly they want to build out the investment sales practice. But with offices in Denver, Southern California, recruiting teams in those markets first seems like a natural next step, he said.
Along with Koskovich brokers Bill Hahn, Jesse Hudson, Cynthia Meister, Thomas Olivetti and Don Vedeen. Meister and Olivetti are based in the New Mexico office.
Brokers Brad and Cindy Cooke, whose team handles Colliers’ Phoenix multi-family sales assignments for institutional clients, are staying with Colliers.
Weidell says NorthMarq decided to start with multi-family brokers because the asset class’ sales pros seems less segmented. He found office brokers often specialized in niche listings: medical office buildings, downtown properties, etc.
Its servicing portfolio has grown to 6,000 NorthMarq closes on about 1,000 transactions annually and clocked $13 billion in production last year. loans with a total value of $53 billion.
